Category: Cryptocurrency News

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The problem with account security is that most people will scoff at the effort and measures required as being too difficult and time consuming. I can understand not prioritizing the security of your Neopets account, but when it comes to finance and crypto it's strongly advised to take it seriously. Practicing strong account security can…
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Shiba Inu (SHIB) is in a crucial make-or-break moment. Following a market-wide altcoin slump, SHIB’s price action is being shaped by two opposing chart patterns, both of which could have significant implications for the price’s future. A Tale Of Two Patterns For Shiba Inu The 1-week chart for SHIB reveals a tale of two patterns. On one hand, there’s the bullish triple bottom, suggesting a potential end to SHIB’s two-year downtrend. On the other, a descending triangle, which has been in the making for over 13 months, hints at a bearish outcome. In an analysis on August 30, NewsBTC already warned of this scenario. Related Reading: Shiba Inu Community Sounds Warning Alarm As Scammers Siege Shibarium Yesterday, SHIB’s price dipped to a low of $0.00000697 before rebounding slightly to $0.00000722. This places it precariously above the crucial support line of $0.00000715. For SHIB to steer clear of the bearish implications of the descending triangle and to validate the triple bottom, it’s imperative that it maintains a weekly close above this price. The triple bottom, a bullish chart pattern, is characterized by three roughly equivalent lows bouncing off a support level, culminating in a breakout above resistance. This suggests a shift in momentum from sellers to buyers. For SHIB, the criteria for a triple bottom seem to be in place: an existing downward trend precedes the pattern; the three lows are approximately equal, allowing for a horizontal trend line and a decline in volume throughout the pattern suggests weakening bearish momentum. SHIB’s journey through this pattern began in June 2022 with its first low at $0.00000715. After a brief recovery, it hit its second low in December 2021 at $0.00000781. The third and most recent low was recorded in June 2023 at $0.0000060. The Shadow Of The Descending Triangle However, the triple bottom’s bullish narrative is challenged by the descending triangle’s bearish undertones. If SHIB’s price falls below the $0.00000715 support, it could validate the descending triangle, potentially pushing SHIB towards its year-to-date low of $0.000006. A breach of this level might plunge SHIB into uncharted waters, making a new all-time low a grim possibility. Related Reading: Shiba Inu Tallies 77% Accumulation By Major Investors – Good For SHIB Price? Traders often seek additional confirmation of patterns through other technical indicators. The Relative Strength Index (RSI) is one such tool. SHIB’s weekly RSI currently stands at a neutral 39.8 (neutral). However, a recent dip below the 30-mark (indicating oversold conditions) suggests that the recent price drop might have been the last for SHIB. Should the triple bottom be validated, SHIB could witness a significant rally. An immediate target to watch would be the 23.6% Fibonacci retracement level at $0.00002545, translating to a potential surge of approximately 250% from its current price. In conclusion, SHIB’s future hangs in the balance. The coming days and weeks will be crucial in determining whether it embarks on a bullish rally or succumbs to bearish pressures. Featured image from Trader 2.0, chart from TradingView.com

Bitget managing director Gracy Chen said that if users are not doing illegitimate activities like money laundering, they should be “pretty comfortable” with the KYC process.

Pepe Coin has been on a wild ride in early September, characterized by significant price volatility and a troubling dip in its performance.  The price action of PEPE early this month followed a bearish pennant pattern, marked by two converging trendlines. This pattern typically signals indecision in the market, as buyers and sellers wrestle for control. However, the situation took a turn for the worse as the coin broke below its support trendline, increasing the pressure on the supply side. As of the latest data from CoinGecko, the coin is trading at $0.00000067, showing a 3.9% loss in the past 24 hours and a substantial 14.4% decline over the past week. Most notably, PEPE has tumbled out of the coveted crypto top 100 list on CoinGecko. Related Reading: Filecoin Uphill Battle To $3.5 – What’s Holding It Back? PEPE Selling Pressure Intensifies On September 10, PEPE suffered a bearish breakdown as it breached the support trendline. This development, coupled with a rising supply pressure across the altcoin landscape, resulted in a sharp decline in the value of PEPE. Investors and enthusiasts began to question the coin’s future as it struggled to maintain its position. Source: Coingape Adding to the concerns surrounding PEPE, a tweet from Lookonchain on September 11 drew attention to a peculiar event. Several investors opted to sell their PEPE holdings, swapping them for PNDC (Pandacoin). Three wallets collectively sold a staggering 1.38 trillion PEPE tokens for 600 ETH, equivalent to approximately $965,000. In a surprising twist, they reinvested 600 ETH to purchase 487 billion PNDC tokens. We noticed that 3 wallets changed their $PEPE positions to $PNDC today. They sold a total of 1.38T $PEPE for 600 $ETH($965K) and spent 600 $ETH to buy 487B $PNDC. Address:https://t.co/tPT0P3KvOghttps://t.co/nKOS9H3tbGhttps://t.co/EzkRW2BuPt pic.twitter.com/f7rUHZY2jx — Lookonchain (@lookonchain) September 11, 2023 On-Chain Metrics Paint A Grim Picture A deeper look at PEPE’s on-chain metrics reinforced the growing unease within the crypto community. Buying pressure on the meme-inspired coin remained high, which, paradoxically, contributed to the bearish sentiment. Notably, PEPE’s supply on exchanges experienced a sharp increase over the past few days, indicating a surge in selling activity.  PEPEUSD currently trading at $0.000001 on the daily chart: TradingView.com What Lies Ahead For Pepe Coin? This shift occurred simultaneously with a decrease in PEPE’s supply outside of exchanges, further highlighting the rising selling pressure. Moreover, PEPE’s exchange inflow witnessed a noticeable spike, while the total number of holders declined, painting a gloomy picture for the cryptocurrency. Related Reading: Massive PEPE Token Dump: Whale Unloads 762 Billion At Loss As Price Wobbles PEPE’s early September performance has been nothing short of turbulent. Its journey from a bearish pennant pattern to a breakdown below support has left investors and enthusiasts concerned about its future. The notable wallet activity and on-chain metrics only serve to compound these concerns, leaving the crypto community with more questions than answers about the fate of PEPE in the coming days. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Tallahassee Democrat

Binance said the SEC’s requests are “unduly burdensome” soon after the parties agreed on a joint motion to file confidential information under seal.