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Technical Analysis: SHIB Climbs Half-way Higher as Meme Coin Hits $16 Billillion Market Cap

Technical Analysis: SHIB Climbs 50% Higher, as Meme Coin Hits $16 Billion Market Cap

Shiba inu (SHIB) is up over 50% as of writing, with cryptocurrency markets continuing to gain momentum to start the week. The so-called ‘meme coin’ rally has seen SHIB recapture a $16 billion market capitalization.

Biggest gainers

On Monday, bitcoin (BTC) and ethereum (ETH) both reached multi-week highs, with DOGE and XRP also trading over 10% higher, however, none of these came close to today’s big gainer.

Shiba inu (SHIB) was today’s bull of the day, and was up by 48% as of writing, hitting an intraday high of $0. 00003484 in the process.

In the last 24-hours, shiba Inu has risen by over 70%, following its breakout of resistance at $0.00002332.

Today’s move has led to the 14-day RSI climbing by its most since October 29, when $SHIB traded at a now ATH of $0.00008894.

Technical Analysis: SHIB Climbs 50% Higher, as Meme Coin Hits $16 Billion Market Cap
SHIB/USD – Daily Chart

As you can see, prices are trading marginally above resistance of $0. 00003374, which has been in price for the entirety of 2022 thus far.

Price currently tracks above the overbought threshold, however, many late entrants are sure to still enter the race.

Biggest losers

After almost five days of bullish pressure crypto bears have been somewhat in hiding and that continues on Monday.

Today, LEO was the biggest loser. As of today, it is around 2. 60%, and comes as traders appear to be caching out on last weeks’ profits.

UNUS SED LEO has gained by as much as 40% in value over the last 7-days, and with its 14-day RSI tracking at 69. 44, markets seem to have deemed this as being overbought.

Technical Analysis: SHIB Climbs 50% Higher, as Meme Coin Hits $16 Billion Market Cap
LEO/USD – Daily Chart

Following its rally to a now all-time high of $5. 44, LEO began to consolidate, and now seems to have found a short-term ceiling at $5.22.

Will the profit takers continue to liquidate their positions? We’d love to hear your comments.

eliman@bitcoin.com'

Eliman Dambell

Eliman has a broad perspective on market analysis. He is a former brokerage director, educator in retail trading, and commentator on Crypto, Stocks, and FX markets.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage caused or alleged caused by the use or reliance of any content, goods, or services mentioned in this article.

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Ethereum

Crypto Traders Invest $1.5M in 99Bitcoins Token Presale – Here’s Why It Could Explode

Crypto traders are going wild over a new project on Ethereum – 99Bitcoins Token.

This project has already raised over $1.5 million before its official launch.

With a unique “Learn-to-Earn” model and plans to bridge to the new BRC-20 standard, many believe 99Bitcoins Token (99BTC) could shake up the crypto education space.

99Bitcoins Token Transforms Crypto Education into a Learn-to-Earn Experience

99Bitcoins is one of the go-to platforms for new crypto investors looking to cut through the noise and learn the fundamentals.

Yet the platform is taking things to the next level with the launch of 99BTC.

This ERC-20 token is at the core of 99Bitcoins’ Learn-to-Earn model.

Instead of just passively reading articles, users can interact with courses, quizzes, and other activities.

Doing this will reward them with 99BTC tokens for improving their crypto knowledge.

It can be thought of as a gamified crypto education experience.

For example, a user could complete a module on technical analysis, ace the final quiz, and earn 99BTC as a reward.

Or they could dive into content on the DeFi space, with 99BTC tokens dished out along the way.

The possibilities are endless for turning crypto learning into earning with 99Bitcoins Token.

Their well-established brand is evolving from just simplifying crypto to actively incentivizing an entire community.

And with almost 20,000 Twitter followers, the excitement for this new approach to crypto education is clear.

99BTC Presale Raises $1.5M as Investor Demand Soars

The presale for the 99Bitcoins Token is in full swing, with over $1.5 million in funding already raised.

This level of demand highlights the hype that’s building for 99Bitcoins’ Learn-to-Earn platform.

After the presale ends, the developers will proceed with DEX listings to provide initial liquidity.

But the bigger milestone will be securing listings on major CEXs – which the developers hope will occur in Q4 2024.

One key advantage for those who invest during the 99BTC presale is access to the platform’s staking program.

Presale buyers can stake their 99BTC right away to earn yields as high as 1,125% per year.

As an example, if someone were to 10,000 99BTC tokens, they could earn over 112,000 additional tokens.

Although the yield will decrease as more tokens are staked, it presents a pathway for investors to generate passive income while improving their crypto skills.

This combination of passive income potential and educational value is proving to be attractive for investors.

Huge Airdrop Campaign & BRC-20 Bridge Fuel 99Bitcoins Token’s Growth

So, could 99BTC really explode after hitting the open market?

The signs seem to be pointing to yes.

For one, the development team has added to the buzz by launching an airdrop campaign that will give away $99,999 worth of BTC to early community members.

This shows their commitment to rapidly growing the 99BTC user base.

Even more exciting is the team’s plan to eventually bridge from Ethereum to Bitcoin as a BRC-20 token.

As the first crypto education project to leverage this new token standard, 99Bitcoins Token could position itself as a first mover in the space.

This ties into what might be 99Bitcoins Token’s biggest catalyst – the fact that no project has emerged as the “go-to” educational platform for crypto.

Despite a growing need for quality learning resources, the space still lacks an all-in-one hub for learning.

99Bitcoins could be that hub.

With an established brand, disruptive Learn-to-Earn model, and cross-chain vision, 99Bitcoins is well-positioned to fill the market gap.

And with 99BTC tokens priced at just $0.00106 during the current presale stage, there’s a growing sense that this could be a golden opportunity for investors.

Visit 99Bitcoins Token Presale

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

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Ethereum

PEPE Soars to All-Time High Spurred by Speculation of Spot Ether ETF Approval

The Ethereum-based memecoin Pepe (PEPE) experienced a significant price surge of 40% since Monday to a new all-time high, fueled by the speculation that the U.S. SEC might approve spot ether exchange-traded funds (ETFs). Crypto traders and analysts, observing the movement between ether’s price rise and PEPE’s surge…
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Ethereum

Farcaster Secures $150M in Funding, Reaches $1B Valuation With Backing From Paradigm

Farcaster, a decentralized social media platform leveraging the Ethereum blockchain and Optimism’s Layer two ecosystem, has successfully raised $150 million in a funding round led by Paradigm, bringing its valuation to $1 billion. The funds will be used to sustain the project’s development, focusing on growing its user base and enhancing developer tools…
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