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Bitcoin Fear & Greed Index Reaches Highest Level Since 2021, What To Expect Next

The Bitcoin Fear & Greed Index has risen to its highest level in almost three years, hitting Extreme Greed at rocket speed. Using past performance and indicators, it is possible to deduce where the BTC price is headed next after reaching this new milestone.

Bitcoin Fear & Greed Index At New 2-Year High

The Bitcoin Fear & Greed Index is a measure of investor sentiment and how they are looking at the market. This can help to figure out if investors are currently putting money into the market or if they are taking money out of it.

There are five major categories across the Fear & Greed Index, including Extreme Fear, Fear, Neutral, Greed, and Extreme Greed. The index is ranked on a scale of 0-100, with a range of numbers representing a category of investor sentiment.

Extreme Fear is the lowest on this scale, which ranges from 0 to 25. Then, from 26 to 46, we have the Fear. Both of these categories indicate an unwillingness of investors to enter the market and have often presented as the best time to invest in crypto.

Next on the scale is 47 to 52, which represents the Neutral territory. Then 53 to 75 is Greed when investors are beginning to feel confident in the market. Finally, 76 to 100 is Extreme Greed, which represents peak bullishness. As the Bitcoin Fear & Greed Index currently sits at 79, which is Extreme Greed, it could carry some implications for the market.

BTC price chart from Tradingview.com (Bitcoin Fear & Greed Index)

Extreme Greed Marks The Top?

Just as the Bitcoin Fear & Greed Index can be helpful in determining what is a good time to buy, it can also provide pointers for when a market top might be in. Looking through the historical performance of the crypto market compared to the Fear & Greed Index, we see a persistent correlation between peak euphoria and the market top.

The most recent example of this is November 2021, when the index’s score climbed to as high as 84, just 5 points shy of the current 79 score. At this point, the price of Bitcoin had risen to $69,000 before meeting resistance, which it will eventually succumb to,

In the following days, sentiment would begin turning, as did the price of Bitcoin. A similar pattern was also seen in February and March 2021 when the index hit a high of 94. The next few days saw interest taper off, marking the peak at that particular point.

If the same pattern were to be repeated in this scenario, then Bitcoin could have another few days of runway before it blows off top. Presently, the cryptocurrency is already seeing significant resistance at $57,000, which could suggest that the top is near.

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OG Ethereum ERC-404 Token PANDORA Is Rallying Again, What’s Behind It?

PANDORA, the first token to use the Ethereum ERC-404 token standard, is on the move after slowing down for a few weeks. The token’s price saw a significant surge over the weekend, rising around 50% to clear $24,000 once more. This recovery was triggered by a number of factors, so here they are.

Whales Set Their Sights On PANDORA

The most obvious reason behind the price push recorded for PANDORA over the weekend can be traced back to significant whale activity. On-chain data tracking website Lookonchain, flagged a number of whale transactions that took place in the days leading up to the price surge.

The first whale accumulation was seen on February 20, when Lookonchain reported that a single whale had spent $4.89 million to purchase 244.24 PANDORA tokens. The buying spree took place over a number of days, and by the time the whale was done, they had an average entry price of $20,044.

A couple of days later on February 23, the on-chain tracking platform reported that another whale was making their PANDORA play. This time around, the new whale spent $1.37 million buying 71.45 PANDORA tokens at an average price of $19,268.

Together, these whales scooped up a little over $6 million worth of tokens. When the price eventually hit $24,000, the first whale saw profit margins of almost $1 million, while the second whale was sitting on a profit of over $330,000.

PANDORA price chart from Tradingview.com (Ethereum ERC-404 token)

First Set Of Incentives Land For Holders

Another factor that has helped push the price of PANDORA over the week is incentives in the form of airdrops being announced for PANDORA holders. Monarch, a project also built on the Ethereum ERC-404 token standard, announced earlier in February that it would be awarding tokens to PANDORA investors.

A total of 5% of the token supply was announced to be allocated as an airdrop for PANDORA holders. This incentive, coupled with the fact that PANDORA announced that it is gearing up to release the latest iteration of the ERC-404 token standard, created demand for the token.

PANDORA Token Performance

During the weekend, the PANDORA price went from trending around $16,000 to rising 50% in one day to clear the $24,000 level. However, this high price level could not be sustained for long as a sharp dump would follow on February 23, apparently triggered by whales dumping their holdings.

In the last day, the price of the token has continued to fluctuate between $16,000 and $17,000. As of the time of writing, the altcoin is trading at $17,139, with 5% losses in the last day, according to data from Dexscreener.

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The Polygon Vesting Contract Is Officially Empty, Will This Send MATIC Price To $3?

Like many other crypto projects, the native token of the Polygon network, MATIC, was launched with some portion of the supply vested for the team over a period of time. In the case of Polygon, the vesting was for five years, and since 2019, there have been periodic token unlocks. However, the unlocks, which have often been a deterrent for investors, are now over, as the last batch was just released to the team.

Polygon Last Unlock Goes To Team

On Wednesday, February 21, the Polygon Foundation received the very last portion of their vested tokens from the vesting contract. In total, 273,304,816 million MATIC tokens valued at $260 million were released to the Foundation’s wallet.

This unlock marks the very last unlock that the Foundation will receive, meaning that almost all of the available supply of MATIC is now in circulation. The latest unclog brings the circulating supply of the cryptocurrency to 9,618,318,574 out of its 10,000,000,000 maximum supply. As a result of this, the market cap of Polygon is sitting just above $9.14 billion with a fully diluted valuation (FDV) of approximately $5 billion.

The entirety of the MATIC supply has been unlocked, which means that there will be no more tokens being brought into circulation. This is a huge milestone for the project, whose investors have waited years for the vested tokens to finally run out.

MATIC price chart from Tradingview.com (Polygon)

How Will This Affect The MATIC Price?

The fact that the entirety of the MATIC supply is now in circulation is bullish for the digital asset, especially in the long term. Inflation is a factor that tends to drive investors away and keep them from holding their coins due to the fear of more tokens coming into circulation, causing supply to exceed demand.

Now that the entirety of the supply is now in circulation, it gives the MATIC price a chance to enter into price discovery. However, there is still some concern about when the Polygon Foundation might start selling their coins as the entirety of the unlocked tokens still sit in the Foundation’s wallet.

If they do decide to sell, though, it is likely that the foundation would do so through OTC (over-the-counter) deals to minimize the impact of such a sale on the token price. As a result, the MATIC price might not suffer much.

At the time of writing, the MATIC token is trading at $0.95 with a 24-hour increase of 1.11%. Although its performance has been far from encouraging, the token is sitting only 67% below its 2021 all-time high of $2.92.

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Bitcoin Fisher Transform Reaches Critical Level Not Seen Since 2021, What This Means

The Bitcoin price has had a rocky start to the new week after losing its footing above $52,000 on Tuesday. However, all hope is not lost, as indicators still point to a continuation of this trend. Crypto analyst Tony The Bull has identified an important trend in the Bitcoin chart which could trigger a continuation of the trend back above $52,000.

Bitcoin 1-Week Fisher Transform At Crucial Point

In an analysis posted on X (formerly Twitter), the crypto analyst shared a chart that showed the Bitcoin Fisher Transform in comparison to price. Most importantly, the chart showed the 1-week Fisher Transform and how it has moved since 2017.

The analysis shows some similarities between the current trend and the trends seen in 2017. A similar trend was also seen in 2019 and 2021, where the Fisher Transform rose rapidly before falling. But the importance of this trend lies in where the Fisher Transform heads next from here.

The current important level is the 1.5 Standard Deviation, which has been a crucial point whenever this trend has occurred. Now, if the Fisher Transform is able to stay above this level, it is bullish for the price. However if it falls below this standard deviation, it is very bearish for the price.

Bitcoin

“This is a pivotal area based on historical price action and its exhibiting 2017-like behavior not seen in 2019 or 2021,” the crypto analyst explains. “Below it tends to incite bearish trends, while holding above gives bulls extra vigor.”

Bitcoin price chart from Tradingview.com

Bears And Bulls Vie For Control Over BTC Price

The interest in the next direction of the Bitcoin price has seen bulls and bears lock horns over which camp will reclaim control of BTC. This has seen the price of the digital asset fluctuate wildly over the last few days, going from $53,000 to below $51,000, before bouncing back up once again in the early hours of Wednesday.

This tug-of-war continues to hold the price of Bitcoin down, but investor sentiment seems to be climbing even through this. According to the Bitcoin Fear & Greed Index, investor sentiment has reached Extreme Greed for the first time in one year.

Historically, the index going into extreme greed has signaled the top of the market, with prices trending downward not too long after. However, Bitcoin is still seeing positive indicators, with its trading volume rising more than 40% in the last 24 hours alone.

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Finance Expert Drops Grim Prediction For US Economy, Says Bitcoin Is The ‘Parachute’

The United States economy and where it might be headed has been a hot topic of debate among finance experts, with some recommending Bitcoin as a safe haven. One of those who has continued to tout BTC as the answer is renowned finance author Robert Kiyosaki, who has made a gloomy prediction for the US economy.

The Economy Is Coming Down

In a post made on X (formerly Twitter), Robert Kiyosaki, who is widely known for his best-selling finance book titled ‘Rich Dad Poor Dad’, warned investors of an impending crash. According to Kiyosaki, a lot of investors would end up losing their money as they do not know what to do with it.

He compared the current situation to flight students in the US Navy being taught how to fly and also how to crash. However, it seems that there is no easy option for investors going forward, as he calls for a “bail out.”

The finance expert warns that banks as well as the US economy will crash, and “We are not going in for a soft landing.” In light of this, he steers investors toward other forms of wealth preservation, which are Gold, Silver, and Bitcoin.

As much as the finance author expects that the crash will be brutal, he believes that by being in the three assets mentioned above, then investors can have “parachutes for your personal soft landing.”

Bitcoin price chart from Tradingview.com

Strong Advocate For Bitcoin

Kiyosaki is not new to pushing Bitcoin as an alternative to traditional cash and investment vehicles. Over the last year, the finance expert has warned that the US economy is headed for doom and as always, pushes the likes of Gold, Silver, and Bitcoin as an answer to the ‘inevitable crash.’

The author has also provided incredibly bullish predictions for the BTC price going forward, which he expects to rise more than 300% from here. According to Kiyosaki, Bitcoin will rise as high as $150,000 post-Spot Bitcoin ETFs approval, and with the price inching toward $50,000 already, it seems Kiyosaki’s prediction may end up playing out.

Kiyosaki has also presented Bitcoin as a safe haven at a time when there is widespread political discontent. He has also publicly declared his dislike for the current President, Joe Biden, who he believes is weak and a terrible president.

In order to fight back, the finance author suggests that investors move their assets into Gold, Silver, and Bitcoin which cannot easily be controlled by the government. He also believes BTC is the “best protection” against hyperinflation, which he expects to happen soon.

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Dogecoin Adoption Explodes In Stunning Move, Can DOGE Chart A Path To $0.2?

The Dogecoin adoption trend has taken the crypto market by surprise after the number of new wallets being created on the network skyrocketed. Last week, new wallet creations were the center of attention as more than 890,000 new DOGE wallets were added in a single week. This time around, a new Dogecoin metric is taking the stage.

New Non-Zero Dogecoin Addresses Rise Rapidly

In a new report, the on-chain data tracking platform Santiment has identified rapid growth in one Dogecoin metric and that is the number of new non-zero addresses. These addresses include those that were created in the last week and are holding more than 0.001 DOGE on their balances.

The report shows that this category of addresses jumped more than 400,000 in the space of two weeks. More specifically, 413,800 new wallets have been added in the last week, with DOGE balances ranging from between 0.001 and 1 DOGE. This earns them the classification of non-zero balances.

Interestingly, this rapid rise in adoption happened at a time when the DOGE price was struggling to hold up in the market. As Santiment notes in its post, the DOGE price is down more than 23%, while network adoption has been on a bullish run.

However, this rise in adoption does not have a positive effect on the DOGE price, suggesting that there isn’t demand among the investors. More than likely, these new non-zero wallets are created by existing users who are looking to take advantage of and trade the newly introduced DRC-20 token standard on the network.

Dogecoin price chart from Tradingview.com

DOGE Comes Under More Selling Pressure

The Dogecoin price could be looking at more struggles ahead as more sell-offs could be looming on the horizon. Whale Alert, a platform that tracks the origin and destination of large crypto transactions, has flagged a large DOGE transaction that has sparked speculation in the community.

According to the report, the whale sent a total of 100 million DOGE coins worth over $7.8 million to the Robinhood exchange. The destination of the transaction is important because usually when investors send coins to centralized exchanges such as Robinhood, the purposes are more than likely to sell. In this case, a $7.8 million sell-off could put further pressure on an already struggling DOGE price.

For the DOGE price to climb as high as $0.2, there would need to be a catalyst, such as Elon Musk announcing Dogecoin payments for X (formerly Twitter). If the entire crypto market continues to perform poorly though, then the DOGE price could fall as low as $0.07 before bouncing back.

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Here’s Why A Bitcoin Bull Run In 2024 Is Inevitable

The expectations of a Bitcoin bull run in the year 2024 continue to drive investment decisions across the space. A number of reasons have been given for the expected bull run, including the approval of Spot Bitcoin ETFs for trading as well as the upcoming BTC halving event. One analyst has echoed the latter, elaborating on why the halving will bring about a bull market.

The Bitcoin Halving Event Will Send Market Higher

Crypto analyst James van Straten took to X (formerly Twitter) to explain why the Bitcoin halving event is bullish for price. Now, the halving is an event that is programmed to take place approximately every four years, cutting the block rewards in half each time it happens.

This means that the number of BTC that miners are awarded for mining a block is immediately slashed by 50%, thereby drastically reducing the number of new coins coming into circulation. Currently, the block reward is at 6.25 BTC and the next halving will slash it to 3.125.

Straten points to this reduction, using the monthly issuance as the case study. He explains that over the past month, there have been a total of 61,000 BTC accumulated by miners and exchanges. However, after the halving, the monthly issuance is expected to drop to 13,500 BTC and it is this drop that is most significant.

As Straten points out, if the demand were to stay elevated at the same levels when the halving takes place, it would see demand exceed supply by a factor of four. This will cause a shift in the market, which will have to “find an equilibrium most likely higher.” In other words, prices would have to go up to keep up with the demand.

Bitcoin price chart from Tradingview.com

Targets For BTC Price In 2024

Another bullish factor for the Bitcoin price is that the halving year coincides with the United States presidential elections. As Markus Thielen, Head of Research at Matrixport, pointed out in an analysis, this coincidence has always been bullish for the price.

The report points back to the previous halving and election years, which show the price of Bitcoin ending on a high note. The last three halving years have seen BTC rise 152% in 2012, 121% in 2016, and 302% in 2020, showing a consistent trend.

With the year 2024 being another halving and election year, the research analyst expects that the price of Bitcoin will finish out the year at $70,000. This would mean another 65% rally from the current price levels, and if the trends hold, the start of another bull market.

“Supported by the macro environment, monetary tailwinds, the US election cycle, and gradually increasing demand from TradeFi investors allocating to Bitcoin ETFs, a Bitcoin rally to 70,000 appears plausible,” Thielen said.

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LUNC Price Rally Is Far From Over Following Falling Wedge Breakout, Analyst Says

Over the weekend, the LUNC price saw some of the most bullish price action that sent its price soaring over 20%. This rally eventually brought the price above $0.0001 after struggling around $0.00009 for the last two weeks. However, the tides seem to be completely changing for the altcoin, as one analyst expects the rally to continue.

Prepare For The LUNC Price To Double

The LUNC price, despite having risen so much, is still showing signs of a continuation. This is evident in the Falling Wedge Breakout that was confirmed by crypto analyst Ava Cryptoo on TradingView. This Falling Wedge Breakout is significant as it often precedes some of the most significant rallies in cryptocurrencies, such as LUNC.

The price of the altcoin is currently retesting the significant resistance at $0.000115. Now, this level is significant because rejection from this level had initially stopped the LUNC price breakout on Saturday. Now that the price is starting to retest it again, it shows that the bulls are far from done with this altcoin.

LUNC price chart from Tradingview.com

In a scenario where the LUNC price successfully retests and breaks above this level, then the crypto analyst expects that the price will more than double from its current level. They put the price target for the altcoin as high as $0.00022, and the timeline for this is shown to be a matter of days. However, all of this hinges on the fact that the price makes a “Perfect Retest” and breaks out completely.

LUNC price chart from Tradingview.com

Why Is The Altcoin Rallying Amid Low Market Sentiment?

The LUNC price breaking out during such slow market movements suggests an end to the accumulation that happened below $0.0001. In addition to this, Binance carrying out its scheduled LUNC burn contributed to the rise in price that was seen this weekend.

Binance, the largest crypto exchange in the world, has been committed to burning LUNC tokens realized from fees in an effort to help reduce its vast supply. The latest burn which took place on February 1 saw approximately 2.1 billion tokens performantly removed from circulation.

This is the 18th burn that the crypto exchange has carried out, each time removing hundreds of millions to billions of tokens from circulation. Following this burn, the crypto exchange has helped the LUNC burn figure cross the 51 billion threshold.

A wave of excitement naturally followed the monthly burn as the price started to rise rapidly. The LUNC trading volume reportedly surged more than 700% at the time, at first triggering a 10% increase in price. By the time the weekend was over, the LUNC price had already risen more than 20%, and continues to hold on to the majority of its gains.

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What Is Sei (SEI) Network?

The Sei (SEI) Network is a Cosmos-based layer-1 blockchain that aims to change the world of digital asset trading, especially in the decentralized exchange (DEX) ecosystem. It was specifically designed for the world of trading, featuring various sectors of the cryptocurrency space spanning GameFi, NFTs, and, most especially, decentralized finance (DeFi). Sei is positioned as the “Decentralized NASDAQ,” as it offers a seamless blend of centralized finance (CeFi) trading experiences with decentralized finance tools.

Since its inception, it has established itself as a major player in the cryptocurrency space by providing cutting-edge features and advantages over rivals. With its innovative technology stats and passionate community, it has become one of the fastest-growing Layer 1 blockchains for trading and other purposes.

At its core, the SEI token is designed to optimize and streamline business operations and interactions. It is expected to be not just a cryptocurrency but a comprehensive solution that addresses several challenges in the contemporary blockchain ecosystem. 

SEI Network founders

Who Are The Founders Of Sei Network?

Sei (SEI) network founders and brains behind the SEI are Jayendra Jog, Dan Edlebeck, and Jeffrey Feng. Jayendra Jog was the former lead software engineer at Robinhood, a popular centralized crypto exchange. 

Dan Edlebeck is the co-founder and CEO of Exidio, a decentralized VPN application in the Cosmos ecosystem. Lastly, Jeffrey Feng brought his investment experience from his role at Goldman Sachs.

Investors And Institutions Backing the SEI Token

The Sei network has a lot of credible investors and institutions backing it, such as Coinbase, which is one of the largest centralized exchanges (CEX) in the world; Jump, Muitcoincapital, Layer Zero, GSR, and many more, as shown in the screenshot from the website below.

SEI Investors

What Sei Network Aims To Achieve In The Crypto Space And Beyond 

Sei aims to foster smart, efficient, and sustainable enterprises, and it does so by leveraging the power of blockchain technology to automate processes, reduce costs, and eliminate intermediaries. This makes Sei tokens a frontrunner in the race toward a decentralized future.

Sei token is unique in its approach and functionality as it goes beyond the standard features of cryptocurrencies and offers a sophisticated governance model encouraging active community participation. It takes the decentralization aspect a notch higher by ensuring fair and transparent decision-making.

The token is designed for compatibility and scalability, allowing seamless integration with new and existing business systems. This means whether you are a large corporation like Blackrock, which manages $10 trillion in assets, or a small business startup, the Sei token is designed to fit right into your operations, providing you with the benefits of blockchain without the hassle of overhauling your business system.

How Does Sei (SEI) Work?

One of the major problems with decentralized exchange (DEXs) is that orders are either not processed on-chain or are processed on-chain on a fast blockchain at the expense of decentralization and security. 

Given this bottleneck, the Sei network has implemented several innovative features to resolve the challenges faced by decentralized exchanges (DEXs) by combining off-chain speed with on-chain security. It aggregates orders at the end of the block and executes them all at once rather than executing them one at a time, and in this way, it prevents the persistent problem of front-running in decentralized trading.

The Sei network also makes use of native price oracles that minimize external dependencies while offering trustworthy data feeds. It handles the placement and execution order of a single transaction as opposed to doing so in two (2).

What Makes The Network Unique?

The Sei network stands out from the rest due to its self-executing smart contracts with the terms of the agreement directly written into code lines. The code and the agreement contained therein then exist across a distributed blockchain network.

This means that the transactions are irreversible and trackable, and they do not require a third-party intermediary. This automation process drastically reduces costs and increases efficiency, making transactions smooth and very easy.

Blockchain

Sei tokens also utilize a decentralized infrastructure, which means any single central entity or authority does not control it. Instead, control is spread out amongst many different nodes or computers that participate in the network to ensure that even if one node goes down, the entire network continues running smoothly.

The decentralized nature of the SEI token fosters a sense of community and mutual trust among its users. It boasts a democratic system that encourages active participation and promotes transparency and fairness.

Notable Features Of The Sei (SEI) Network

Twin-Turbo Consensus Mechanism: The Sei network leverages the Cosmos SDK and Tendermint Core to provide decentralized trading apps with speed, security, capital efficiency, and decentralization.

Parallelization: The Sei blockchain divides work into smaller chunks, processing and executing them simultaneously to prevent front-running.

Native Order Matching: The Native Order Matching feature ensures that decentralized exchanges (DEXes) are able to have their own central limit order book (CLOB).

Order Bundling: Sei offers order bundling at the client and chain level to enhance user experience and efficiency.

Price Oracles: It’s integrated into a native system for trustworthy assets with real-time oracles provided by validators, meaning that Sei provides users with an Oracle module that functions as a token price reference.

Lightning Speed Transactions: Sei claims to offer 600 milliseconds in transaction finality, making it highly scalable compared to other crypto projects like Bitcoin, Ethereum, and even Solana.

Fee Structure: At launch, SEI tokens have no chain-level trading fees; however, decentralized exchanges (DEX) may introduce their transaction fees through smart contracts.

Potential Applications Across Various Industries 

Banking and Financial Industry: The Sei blockchain technology is designed to streamline operations, eliminating the need for intermediaries and reducing transaction costs. This will bring a new level of transparency to the banking and financial industry, with every transaction recorded and traceable on the blockchain.

Medical and Healthcare Industry: The Sei network offers an efficient way to manage and share patient data securely. This can help eradicate fraudulent activities, improve patient care, and enhance data interoperability.

Supply Chain (Import and Export) Industry: The Sei blockchain network token can ensure the authenticity and traceability of products, from the raw materials to the end consumers. Every step can be recorded on the blockchain, providing full visibility and reducing the emergence of counterfeit goods and products.

Impact on the Environment: Sei’s eco-friendly consensus mechanism significantly reduces energy consumption compared to traditional cryptocurrency. Its smart contracts can automate carbon credit trading, supporting businesses in their sustainability efforts.

Digital Identities: The Sei network can be employed to develop a secure decentralized solution for managing digital identities and protecting individuals’ privacy and digital data.

The Tokenomics Of SEI Coin

Sei’s native cryptocurrency, SEI, does not have a maximum supply of tokens to be mined. However, it has a total supply of 10 billion coins. This means all of the tokens in circulation have been free-mined on the blockchain, including those that are locked or reserved. The token has a circulating supply of 2.4 billion at the time of publication. 

According to its website, 48% of the supply is in an Ecosystem Reserve, with Private Sale Investors and the Team receiving 20% of the supply, respectively. 9% of the supply went to the Sei Foundation and the Launchpool received 3% of the supply.

SEI Coin tokenomics

Sei token is up 619% since its all-time low of $0.09536 on October 19, 2023, and its latest all-time high of $0.8778 was recorded on January 3, 2024. With a market cap of $1.5 billion, it is currently the 48th-largest cryptocurrency in the industry.

Conclusion

The Sei network aims to solve issues not only in the crypto industry but also in other industries. This includes the likes of the banking and financial industry, where it aims to reduce the costs of transactions by eliminating the use of intermediaries and providing top-notch security measures to protect user privacy and identities.

The blockchain is energy-efficient compared to the likes of Bitcoin as it doesn’t consume as much energy. Its super-fast 600-millisecond transaction finality makes it highly scalable on a scale comparable to Kaspa, whose full confirmation transactions are at an average of 10 seconds.

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How To Create And Mint Your Own NFTs On The Ethereum Network

The allure of creating your own NFTs and BRC-20 tokens is undeniable. For artists, owning and monetizing their digital creations through NFTs offers a new level of control and potential financial reward. Beyond the realm of art, NFTs can foster passionate communities, grant exclusive access to events, and even act as fundraising tools. 

However, stepping into the world of token creation isn’t without its challenges. It demands both a technical understanding of blockchain technology and smart contracts, along with a careful consideration of financial risks and potential regulatory implications. Before diving in, it’s crucial to assess your goals, resources, and risk tolerance. While the possibilities are vast and exciting, responsible and informed action is key to navigating this rapidly evolving landscape.

NFTs, or Non-Fungible Tokens, are digital assets that represent ownership or proof of authenticity for specific items or content. Unlike fungible cryptocurrencies like Bitcoin or Ethereum, NFTs cannot be exchanged on a one-to-one basis due to their unique nature.

NFTs are typically created and traded on blockchain platforms such as Ethereum, Binance Smart Chain, and decentralized marketplaces like OpenSea. These platforms utilize smart contracts to establish ownership and enable transparent and immutable transactions for NFTs.

NFTs can represent a wide range of digital items, including artwork, music, videos, virtual real estate, and collectibles. Each NFT has metadata describing the item it represents and a unique identifier that sets it apart from other NFTs

Creating NFTs On The Ethereum Network

The primary stage in the creation of NFTs involves identifying the content you wish to associate with your NFT. Consider the specific representation you desire for your NFT, whether it be digital artwork, collectibles, virtual real estate, or any other distinct digital item.

In this article, we will use illustrations from OpenSea to guide you on the steps you need to create your own NFTs. OpenSea stands as a leading decentralized marketplace built on the Ethereum blockchain, dedicated to NFTs. It creates a space where users can engage in buying, selling, and discovering an extensive array of digital assets, encompassing artwork, virtual real estate, collectibles, and more.

OpenSea delivers a user-friendly interface, showcasing a vast selection of NFT listings curated from diverse creators and projects. Through OpenSea, users gain the ability to explore the NFT community, partake in auctions, and securely manage their digital assets. With a commitment to fostering the expansion and accessibility of the NFT market, OpenSea ensures a seamless experience for enthusiasts and collectors alike.

This step-by-step guide covers how to create an NFT collection and mint directly to your wallet. 

First, visit the original OpenSea website, and click on the “Login” button at the top to connect your preffered wallet.

To figure out the best wallet to use on the Ethereum network, check here.

NFTs

Next,  click on your “Profile Icon” at the top right of your OpenSea interface in order to deploy a smart contract and select “Studio” through the pop-up options.

NFT OpenSea

To initiate the creation of a fresh NFT, simply click the “Create” button located at the top right corner.

OpenSea

When you explore the options, you will find the choice to either Drop a collection or Create/Mint an NFT. Selecting “Create an NFT”. This will enable you to mint an NFT directly into your wallet.

NFTs

Once you proceed, a fresh “Create an NFT” screen will be presented. If you are using OpenSea Studio tools for the first time to create an NFT, select “Create a new collection.” You will be able to add one NFT to this collection initially, with the option to include more NFTs at a later stage.

NFT

After selecting “Create a new collection,” you will be guided through the steps on your screen to deploy a smart contract. This process will enable you to create NFTs for your newly created collection.

To customize your contract, you need to add a logo image, choose a contract name, and designate a token symbol. Additionally, you will need to choose an EVM blockchain. It’s important to note that deploying a smart contract incurs gas fees, and the estimated fees for each blockchain will be displayed. If the fees are higher than anticipated, you can revisit the process at a later time, as they are subject to change based on network activity.

NFTs 

When you are prepared, proceed by clicking on “Continue”. This action will prompt a transaction signature request in your wallet, which will necessitate gas.

NFTs

Once the process is finalized, you will receive a confirmation message. Proceed to the next step by selecting “Create an NFT” as shown below.                                  :

NFT OpenSea

Having successfully created a smart contract, you are now prepared to generate an NFT. It is important to note that once your item is minted, further editing becomes impossible as it permanently resides on the blockchain. In this case, you will be creating an ERC-1155 NFT, which allows for the creation of multiple copies of the same item.

To begin this phase, upload the media for your NFT, which represents the artwork associated with it. Next, choose the collection in which you wish to mint your NFT.

Subsequently, provide a name for your item and set the desired item supply. The item supply determines the number of copies you wish to mint for the NFT. If you choose 1, then the item will be a one-of-one. 

NFT name

Next, click on the “Create” button at the bottom right, as shown in the above image.  A loading message will appear as the item is being minted. To proceed with the minting process, you will need to approve the transaction using your wallet.   

NFTs

Congratulations! You have successfully minted your very first NFT!

NFT OpenSea

Conclusion

Although NFTs and BRC-20 tokens have distinct functions and operate on separate blockchains, they both contribute to the growing realm of blockchain-based digital assets. NFTs have captured widespread interest for their exceptional nature and capacity to represent ownership of digital assets. 

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Dogecoin Adoption Rate Touches New ATH, But Why Is This AI Bearish On DOGE Price?

 

DOGE The Dogecoin network is on a roll after a particularly disappointing performance leading up to the end of January. Usage on the network is beginning to pick up once more after the price made its way above $0.08. New adoption saw the highest spikes, as almost 1 million new DOGE wallets were created in a 7-day period.

890,000 New Dogecoin Wallets In One Week

According to data from the on-chain analytics platform, IntoTheBlock, the number of new addresses created on the Dogecoin network spiked significantly in the last seven days of January. The total number of new addresses created during this one-week period came out to a total of 890,000. However, the most interesting part is the spike that took place between January 28 and 29.

In the screenshot shared by IntoTheBlock on X (formerly Twitter), we can see that the majority of new wallets creation happened in a single day. The daily wallet creation went from an average of 60,000 leading up to January 28, and by January 29, around 240,000 new wallets were created in a single day.

The next day would see a slight decline from these 2024 highs. But by January 31, the numbers picked up once more. During this time, another 200,000 DOGE wallets were created in a single day, accounting for one of the largest spikes in new wallets on the network.

IntoTheBlock offered a possible explanation for the spike in new wallets which could be related to an increased interest in Doginals. Doom, a highly anticipated project, was launched on the Dogecoin blockchain, contributing to the spike. The on-chain tracker also added that “the rumors of Xpayments could be driving new users to Dogecoin.”

Dogecoin price chart from Tradingview.com

Machine Learning Algorithm Not Convinced On DOGE Price

Despite the increased interest in the Dogecoin network over the last week, the outlook for its native DOGE coin is still not favorable, according to the machine learning algorithm at CoinCodex. The algorithm has presented the likely movements of the DOGE price over the next few days to the next month, and they are far from bullish.

For the nearest term, the CoinCodex machine learning algorithm expects that there will be a small increase in price over the next five days, with an expected 1.54% rise. However, looking out in the long term, the algorithm expects a change in this positive momentum.

Over the next month, the AI expects that there will be an around 11.13% drop in price from the current levels. This would put the DOGE price at $0.071, pointing to the current sentiment toward the meme coin being rather bearish for now.

Nevertheless, Dogecoin is still holding on to its small gains of 0.7% over the last day, while maintaining its position as the 10th-largest cryptocurrency in the space with a market cap of $11.37 billion.

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Bitcoin To $5 Million? S2F Model Predicts When This Will Happen

Using historical and future Bitcoin halving events, the Bitcoin Stock to Flow (S2F) live data chart model has pointed toward a BTC surge to unprecedented highs during the 2028 to 2032 halvings. 

Bitcoin To Hit $5 Million After 2028 Halving

Crypto analyst Bit Harington recently shared insights in a post on X (formerly Twitter) about the potential surges in the price of Bitcoin during the next halving stages. Using data from the Bitcoin S2F chart, Harington predicted the price of Bitcoin would reach $500,000 by the fourth halving, which is taking place in April. 

His predictions were based on the distinctive trend observed in BTC’s price, where the first to third halving phases exhibited a consistent 10x price increase for each successive halving. 

Responding to the post, the creator of the S2F model, Plan B, made a bold prediction, suggesting that the average price of Bitcoin during the 2028 and 2032 halving events could potentially reach an impressive $5 million. 

The cryptocurrency has consistently experienced bullish rallies following each halving event, from the first Bitcoin halving in November 2012 to the third in May 2020. Due to this, many investors and crypto analysts foresee a similar surge in BTC’s price during 2024 halving. 

These expectations could be attributed to the events that typically occur during a Bitcoin halving event. In each halving phase, BTC mining rewards are cut in half, and the supply of the token is reduced, thereby inducing scarcity and increasing the token’s value. 

While these price projections about Bitcoin are made to keep investors alert, it’s important to note that they remain speculations, and models like S2F can be subject to wide margins of error. 

Bitcoin price chart from Tradingview.com (BTC)

Analyst Reveals Key Factors To Consider In 2024 Halving

Another crypto analyst, Ali Martinez, has disclosed four crucial factors to keep in mind as the 2024 April Bitcoin halving approaches. Martinez highlighted the significance of the post-halving price corrections in the 2016 and 2020 Bitcoin halving, emphasizing that BTC declined by 30% to 70% within a month after the halving phases. 

He also mentioned BTC’s post-halving rallies, where the cryptocurrency experienced significant surges to 700%, 2,850%, and 11,000%, respectively, during the 2012, 2016, and 2020 halving events. The crypto analyst delved into bull market durations after each halving, which lasted about a year or more.

He concluded his analysis by predicting that the next Bitcoin market top would occur around April or October 2025. At the time of writing, the price of BTC was $42,110, according to CoinMarketCap. 

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Bitcoin Whales Go On Buying Spree As Price Dips, Here’s How Much They Bought

A recent development shows that Bitcoin whales have refused to be deterred by the recent price action of the flagship cryptocurrency. Instead, they have chosen to see it as an opportunity to accumulate more BTC. This move could turn out to be really profitable based on a recent analysis by crypto analyst Ali Martinez. 

An Increase In Bitcoin Whales

Ali Martinez stated in an X (formerly Twitter) post that 46 new entities now hold 1,000 BTC or more, which represents a 3% increase in just two weeks. Data from BitInfoCharts further shows that there are now 1,898 wallet addresses holding this amount of Bitcoin or more. This is significant as it suggests that more people have become bullish on the crypto token despite the recent market correction. 

These whales no doubt have enough reason to be bullish on BTC, as Martinez’s recent Bitcoin analysis suggests that the tide could turn soon enough. The analyst highlighted in an X post how, historically, price corrections for Bitcoin have “consistently been followed by further upside gains” in bull markets. 

As such, he noted that dips like this might offer “strategic buying opportunities for those looking to capitalize on Bitcoin’s potential growth.”

Meanwhile, the Spot Bitcoin ETF issuers have helped contribute to the increase in this figure, considering they have had to accumulate BTC for their respective funds. Data from on-chain analytics firm Arkham Intelligence shows that the world’s asset manager, BlackRock, currently holds over 44,000 BTC for their Bitcoin ETF. 

Bitcoin price chart from Tradingview.com (BTC whales)

BTC Still Has More Bullish Momentum 

While many in the crypto community continue to speculate whether the bull market is back, there is reason to believe that BTC’s bullish momentum is not fading anytime soon. In his most recent X post, Ali shared how the next market peak could land around 2025 if Bitcoin is to mirror past bull runs. Going by this projection, Bitcoin is said to have 600 days of bullish momentum still ahead. 

In the meantime, Bitcoin bulls will have to overcome the selling pressure from Bitcoin whales like Grayscale. The asset manager had to offload a significant portion of its BTC holdings due to the amount of outflows it keeps recording from its Spot Bitcoin ETF. GBTC investors like FTX are reported to be taking profits, considering that the fund had traded at a significant discount to Bitcoin’s price before now.  

At the time of writing, Bitcoin is trading at around $39,000, up in the last 24 hours, according to data from CoinMarketCap. 

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Bitcoin Fear & Greed Index Reaches Lowest Level In Three Months, Is The Bleed Over?

Amid the current market turmoil, the Bitcoin Fear & Greed Index has continued on a sharp decline. This decline has seen the index fall to its lowest level in over three months as crypto investors become more fearful and hold their investments from the market.

Bitcoin Fear & Greed Index Takes A Nosedive

In the months leading up to the end of the year 2023, the Bitcoin Fear & Greed Index climbed steadily until it reached high greed levels. Now, this index takes a number of factors into consideration to place investor sentiment across a number of categories ranging from Extreme Fear, Fear, Neutral, Greed, and Extreme Greed.

The Fear & Greed Index represents investor sentiment using scores between 1 and 100, with the lower end of the score representing fear levels and the higher ends representing greed. A score between 1 and 25 puts investor sentiment in Extreme Fear, 26-46 is Fear, 47-52 is Neutral, 53-75 is Greed, and 76-100 is Extreme Greed.

In 2023, the score climbed as high as 74 as Bitcoin rallied toward $50,000. However, as the market has retraced, so has investor sentiment, which is currently trending toward fear. At the time of writing, the Bitcoin Fear & Greed Index is showing a score of 58, which puts it in Neutral territory. It is also two scores down from the previous day’s figures of 50 which means that investor sentiment is trending more toward fear than greed.

Bitcoin Fear & Greed Index

The current figure is the lowest that the index has been since October 2023. The last time the Bitcoin Fear & Greed Index fell below 48 was on October 17 2023. In cases like these, it shows that investors are less inclined to put money into the market. This causes demand to fall, and as a result, prices of assets across the space suffer for it.

Bitcoin price chart from Tradingview.com (Fear & Greed Index)

When Will The Bleed Stop?

So far, the decline in the Bitcoin price has been triggered by massive outflows from the Grayscale Bitcoin Trust (GBTC) as investors redeemed their shares. Over $2 billion in BTC has flowed out from the fund, and this has put a lot of selling pressure on the asset.

However, as the week progresses, the outflows are expected to slow down as investors stop selling. In such a case, the demand would be all to catch up with the supply being dumped on the market, thereby giving Bitcoin and other assets a chance to recover.

At the time of writing, the Bitcoin price is still trending around $40,000 after a bounce back from a dip to $38,500. The price is up 2.6% in the last week, according to data from Coinmarketcap.

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Why Did The Bitcoin Price Fall Below $41,000?

Bitcoin dropped below $41,000 in the last 24 hours before making a recovery to rise above that level once again. This has become the current reality of the flagship crypto token’s price, which has continued to decline since the Spot Bitcoin ETFs were approved. This is surprising considering that these funds were projected to help boost Bitcoin’s price upon launch. 

Why Bitcoin’s Price Could Be Dipping

Bloomberg analyst James Seyffart provided insight into what could be the reason for Bitcoin’s declining price as he revealed that Grayscale’s GBTC has experienced an outflow of $2.2 billion since its conversion to a Spot Bitcoin ETF. Crypto analytics platform Arkham Intelligence also revealed that Grayscale had moved 9000 BTC from their wallets to Coinbase, suggesting an imminent sale. 

A sell pressure of such magnitude would no doubt affect Bitcoin’s price, and that seems to be a plausible explanation for why Bitcoin’s price has declined as of late. The CEO of Jan3 and Bitcoiner, Samson Mow, also echoed similar sentiments as he mentioned that the GBTC sell pressure was pushing prices down. 

However, Mow believes that this trend “won’t be a long drawn out process,” as he predicts that many of GBTC’s investors won’t be able to offload their stocks because the “tax hit is too big.” JP Morgan will, however, beg to differ as a research report by the bank estimates that up to $3 billion could exit from the GBTC fund with many investors looking to take profit. 

Crypto analyst Ash Crypto also recently elaborated on how profit-taking is one of the reasons that GBTC is seeing this significant amount of outflows. He explained that a lot of GBTC investors bought shares in the fund when it was trading at a 40% discount from Bitcoin, and now they are exiting their positions since that discount is now at 0%. 

Bitcoin price chart from Tradingview.com

Spot Bitcoin ETFs Are Actually Living Up To Hype

While Grayscale’s GBTC continues to bleed, other Spot ETFs look to be living up to the hype, with there being an impressive demand for these funds. Nate Geraci, the President of the ETF Store, revealed that two (IBIT and FBTC) out of the nine Spot ETFs (excluding GBTC) already hit $1 billion in assets under management (AUM) just after five trading days. 

Specifically, BlackRock’s IBIT (iShares Bitcoin Trust) was the first to achieve this milestone in just four trading days. Commenting on how impressive this was, Bloomberg analyst Eric Balchunas noted that only two other ETFs ($GLD and $BITO) had done this before now, and none of those funds faced such competition as IBIT did on launch day.  

The demand for Spot ETFs is evidently there, seeing that two spot Bitcoin ETFs have already achieved a record that was held by only two other ETFs before now.

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Valkyrie Exec Expects SEC To Approve XRP ETF, Can This Push Price To $100?

With the advent of Spot Bitcoin ETFs which were approved by the United States Securities and Exchange Commission (SEC) on Wednesday, crypto investors have quickly turned their attention to the next big thing which might be XRP ETFs. This is picking up steam as Steve McClurg, Chief Investment Officer (CIO) for Valkyrie, has lent his voice to the cause.

Valkyrie Exec Says XRP ETF Could Be Next

In an interview with Bloomberg, McClurg reveals that with the approval of Spot Bitcoin ETFs, the expectation is that altcoins will soon follow the same path. He explains that attention could be turned to Ethereum, which is currently the second-largest cryptocurrency in the space. McClurg figures that a lot of filings are going to be submitted for Ethereum ETFs after this.

Beyond the expected ETF filings for Ethereum, the Valkyrie CIO mentions that the likes of Ripple’s XRP could be the next in line to get approved for an ETF. “It wouldn’t surprise me if we saw Ripple or Ethereum spot ETFs out there,” McClurg said during the interview.

Although McClurg showed optimism regarding a possible XRP ETF, he revealed that there was no indication of whether Valkyrie was going to get involved in it or not. Valkyrie, who has been heavily involved in Bitcoin and Ethereum ETFs, has not shown any interest in the altcoin so far.

However, the CIO explained that crypto can be incredibly unpredictable. Given this, it is impossible to know where the market will end up swinging and what asset managers will take an interest in next.

XRP price chart from Tradingview.com (XRP ETF)

ETF Talks For Altcoins Heat Up

The discussions for a possible XRP ETF are not new, especially as the arguments for Bitcoin Spot ETFs heated up. As a result, crypto researcher, ABS, who is part of the 3T Warrior Academy gave a rundown of what the impact of a possible XRP ETF would be.

ABS explains that this could give rise to more interest from institutional investors as they could easily gain exposure to the asset with an ETF. Additionally, it would also propel XRP into the mainstream as marketing would take off. This would obviously increase interest around the world, and finally, XRP ETF would give the crypto a liquidity life-off.

The effect that an ETF would have on the price of the asset can be gauged by what happened in November when rumors emerged that BlackRock had applied for an XRP ETF. As the rumor spread, the XRP price surged rapidly, before correcting back downward once the rumors were dispelled.

Nevertheless, this performance from the altcoin showed the readiness of the market for an XRP ETF. In the case of the altcoin’s price reaching as high as $100, it is likely not happening in the next few years. However, there is no doubt that the approval of an XRP spot ETF would help propel it faster toward this goal.

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Coinbase Expects A Repeat Of 2018-2022 Bitcoin Cycle, What This Means For Crypto

Crypto exchange Coinbase, one of the largest exchanges in the world, has released its latest report on Bitcoin and the crypto market, highlighting its expectations for the Industry. The 44-page report launched by Coinbase Institutional in conjunction with Glassnode predicts a repeat of one of the most explosive bull markets in recorded crypto history; the 2018-2022 market cycle.

Coinbase Says Bitcoin Will Repeat 2018-2022 Cycle

In the report, Coinbase and Glassnode analysts take into account a number of indicators and metrics, such as total supply in profit, among others, to figure out which trend the next bull market is expected to follow. Now, after consideration and comparison to all of the previous bull cycles, the analysts settle on the 2018-2022 cycle being the most likely to be emulated this time around.

So far, Bitcoin and Ethereum are the cryptocurrencies that have shown the most correlation at the start of the 2018-2022 cycles, suggesting that a similar breakout could be in the cards. However, looking at the chart, it shows a sharp deviation from the previous cycles, especially as the bull market looks to be starting earlier than it did in 2020.

When it comes to the level of risk associated with assets such as Bitcoin and Ethereum, the report highlights the fact that crypto has deviated from traditional assets once again. This comes after the correlation between crypto and traditional finance markets rose to new all-time highs back in 2022. But as Coinbase explains, “2023 saw a reversion to historical norms, indicating that crypto can be a source of idiosyncratic risk.”

As another Bitcoin halving event draws near, Bitcoin has also seen a resumption in its surge, spurred forward by expectations of a Spot Bitcoin ETF. Coinbase notes that “As crypto has matured as an asset class and institutional participation has increased, volatility has trended steadily lower.”

Bitcoin price chart from Tradingview.com

What Happens If BTC Price Repeats 2018-2022 Cycle?

Looking back at the last bull cycle shows us what to expect if Bitcoin and the crypto market at large were to repeat the same trend. In this case, expectations would be that the BTC price would rise at least 3x higher than its previous all-time high price of $69,000.

In this case, Bitcoin would be looking at a value of at least $200,000 by the time the next bull market is in full swing. Following the 3.6x move that Bitcoin did to reach its new 2021 all-time high versus its 2018 all-time high, the BTC price would be looking at a cycle peak of almost $250,000.

As for Ethereum, following the same trend and doing a 3.2x from its previous all-time high to its new all-time high, it would put the ETH price above $15,000. In the same vein, the crypto market would also rise more than $10 trillion.

However, all of this is speculation as the crypto market has been known to deviate from expectations. Like the previous bull markets, the next one is expected to be novel, especially given the fact that institutional investors have fully come out to play. This could mean hundreds of billions of dollars in liquidity injections that could drive prices higher than expected.

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Crypto Analyst Identifies XRP Bear Flag To Trigger A Massive Crash To $0.07

XRP, like the rest of the crypto market, is seeing an active retrace that has sent prices back toward levels not seen since last year. As anticipation around a potential Bitcoin Spot ETF approval builds up for this week, expectations are that this retrace will be short-lived. However, not everyone is bullish on a potential recovery as one crypto analyst expects the price of the altcoin to see a massive crash going forward.

XRP Massive Bear Flag Appears

Crypto analyst Bitgolder took to TradingView to share an extremely bearish analysis of the XRP price. This analysis identifies the presence of a bear flag, one of the worst ones seen in the altcoin’s chart in recent times.

As Bitgolder explains, the XRP price chart looks very bad, leading to the obvious bear flag. Some of the reasons for the formation of this bear flag are the fact that there has been a volume drop over the last week, as well as a decline in interest from investors as the altcoin has failed to live up to expectations following Judge Analisa Torres’s ruling that programmatic XRP sales do not qualify as securities.

The crypto analyst explained that the recent price bounce that the coin’s price saw over the last few weeks was in fact not bullish. Rather, it “was just an extended bounce for wave B of this correction from XRP top.” The analyst is also convinced of the weakness being exhibited by XRP, especially given the fact that the altcoin has failed to make a new all-time high in the last bull market while other coins were rallying.

Bitgolder warns investors of a slow bleed that is coming for the XRP price despite how bullish the community seems to be. “It’s going to take a while to bleed out because of how many bag holders there are and how much silly YouTubers keep pumping this thing,” Bitgolder warned. “It’s unfortunate that many are going to lose their shirts on this thing.”

XRP price chart from Tradingview.com

Price Crash To ‘Single Digit Pennies’

Following the slow bleed-out predicted by Bitgolder, the analyst also expects a further dump that will take the price even lower, even down into the single-digit pennies. The chart shared in the analysis shows an initial decline to $0.39. But then a further dump puts the XRP price as low as $0.07.

XRP price chart from Tradingview.com

The reason behind this dump, according to the analyst, will be the fact that the United States Securities and Exchange Commission (SEC) will eventually win out over Ripple in court. Bitgolder believes that XRP will eventually be considered an unregistered security. Either that or the US SEC will file another lawsuit against the crypto firm, which will lead to investors eventually losing faith and dumping their coins.

I used to think that maybe XRP could do some amazing things but after doing more research and looking into on chain metrics I am now convinced this was the biggest pump and dump in history.

However, the analyst also points out that it may not be a straight dump as XRP could still shoot back up to the $0.7 territory once more, which is the top of the bear flag. But Bitgolder refers to this surge as a takeout that would see the rug pulled from under investors once more. “It is hitting some really strong resistance right now so I’m not sure if it can actually break through this,” the analyst concluded.

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Crypto Analyst Predicts 100% Surge For Shiba Inu, But There’s A Roadblock

Through the rips and dips of the crypto market, the Shiba Inu price has been able to maintain a rather consistent bullish momentum, something that cannot be said for a lot of cryptocurrencies. Given this sustained bullish sentiment, the meme coin is primed to be one of the assets to see a massive rally as the market inches toward another bear market. In the short term alone, pseudonymous crypto analyst MMBTtrader is predicting that the price will mount a 2x rally.

Shiba Inu Price Ready To Rise 100%

In a recent analysis, crypto analyst MMBTtrader reveals why they believe that the Shiba Inu price is set to double.  As the chart shows, there has been a steady uptrend in the Shiba Inu price over the last few months, and even when the uptrend seemed to have come to an end, the SHIB price maintained a relatively high price compared to its October lows.

This outperformance has continued into the new year as SHIB was able to still maintain the $0.00001 level despite dips rocking the crypto market. This suggests that bulls have been able to successfully turn $0.00001 into support. In this scenario, it could easily become a launchpad for the price.

Shiba Inu price chart from Tradingview.com

The crypto analyst’s prediction suggests that it could begin to range at its current price. However, once this ranging ends and accumulation is complete, this is where the real fun begins for the SHIB price when the rally is expected to begin.

A bounce from here would see SHIB easily clear the $0.000014 level with no hassle. However, the first roadblock lies just above here. In the event that Shiba Inu is quickly able to surmount the resistance at $0.0000143, another pump is expected that could lead up to $0.000018.

Since there is no such thing as a single continuous upward movement, resistance is expected just below $0.000018. Nevertheless, this is the last resistance and if Shiba Inu climbs above this level, then it is expected to shoot above $0.00002, completing a 100% move from its current price.

Shiba Inu price chart from Tradingview.com (SHIB 100% rally)

SHIB Sways Amid Market Uncertainty

In the weeks leading up to January, confidence around the potential approval of a Spot Bitcoin ETF was at an all-time high, with experts giving it a 95% chance of approval. However, this sentiment has begun to sway especially as BlackRock revealed it will be delaying its $10 million BTC purchase.

As a result, the price of cryptocurrencies across the space declined rapidly and the Shiba Inu price was not left out. SHIB finally lost its footing at $0.00001 for the first time in over two weeks, falling to the $0.000009 region once again.

However, this is not out of the ordinary and could lead to the SHIB ranging and accumulation that the crypto analyst outlines. In such a case, this could present a setup for a bigger price rally as expectations for a bull market grow high.

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3 Under The Radar Altcoins Expected To Hit $100 Before The Bitcoin Halving

With the Bitcoin halving expected to happen today, crypto enthusiasts are already starting to take positions in various altcoins. Among these, there are a number of coins that have shown a lot of promise when it comes to reaching the $100 price mark and this report takes a look at three.

MoonRiver (MOVR) Tops Lists Of Altcoins To Reach $100

The MoonRiver (MOVR) token has been one that has flown under the radar for quite a while now. This has to do with the fact that the price of the altcoin fell from its all-time high of $485 to as low as $5 earlier in 2023. However, this has not eradicated the bullish narrative for the asset.

So far, as the crypto market has recovered, the MOVR token has seen one of the most significant rallies. In the days leading up to Christmas, the price would go from around $6 to as high as $44 in a couple of days, notching 700% gains during this time.

Since then, the price has since retraced and fallen around 50%. But with the price still holding above $20, it shows a lot of promise for the coin. Given its low supply of around 11 million coins and a tendency to rise quickly in a short time, MoonRiver is one of the coins poised to break the $100 mark.

MoonRiver (MOVR) price chart from Tradingview.com (Altcoins $100)

Litecoin (LTC) Slow Movement Coming To An End

The Litecoin price rallied tremendously in 2023 leading up to its halving and was among some of the best-performing altcoins. However, once the halving was completed, the LTC price would crumble and fall into a slow and steady decline. However, this has changed as the coin’s price has begun to pick up steam once again.

With the Bitcoin reversal, the Litecoin price is on the up once again, briefly crossing $75 in the early house of Tuesday. The altcoin, which is often referred to as the digital silver, could be poised to see firmer rallies, especially as the Bitcoin halving draws closer, which is often a catalyst for the bull market. If this continues, then LTC could easily cross $100.

Avalanche (AVAX) Sees An Awakening

Just like Solana (SOL), the Avalanche network has undergone an awakening that has brought investors back to the chain. As a result, the AVAX price has rallied, going from its 2023 low of around $9 to as high as $47 in December 2023.

As the new year rolled around, the Avalanche network has continued to enjoy attention from crypto investors and this has helped it maintain its bullish momentum. Just like MoonRiver (MOVR) and Litceoin (LTC), Avalanche (AVAX) is another token expected to cross the $100 mark.