Shiba Inu Burn Update: 99.44% Daily Burn Crash Could Spell Trouble For Meme Coin
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. Shiba Inu’s price action in the past 24 hours has been characterized by a brief recovery after hitting a low of $0.00001237. This 24-hour price recovery is part of a 15% recovery after Shiba Inu reached a low of $0.00001102 on March 11, which is its lowest point in over a year. In spite of the modest increase in price, a slowdown in a key Shiba Inu metric might threaten this price recovery that’s just beginning. This threat is revealed in the Shiba Inu burn rate, which has taken a massive 99.44% nosedive in the past 24 hours. Related Reading Shiba Inu Burn Rate Plummets 99% In A Day Shiba Inu’s burn mechanism has long been considered a vital factor in its tokenomics, reducing the supply to create scarcity and, in turn, drive up value. However, in the last 24 hours, on-chain data shows that SHIB’s burn rate has dropped by an alarming 99.44%, which is a sharp change to the relatively high burn numbers recorded in previous days. SHIB market cap currently at $7.52 billion. Chart: TradingView.com According to data from the Shiba Inu burn tracker Shibburn, a total of 2,811,819 SHIB tokens have been sent to burn addresses in the past 24 hours. Although this might look like a lot of tokens at first glance, it actually falls short of the volume required to make an impact in the current market conditions. It also marks a 99.44% decline from the over 500 million SHIB tokens burned in the previous 24-hour timeframe. Shiba Inu Burn Crash Could Spell Trouble With Weak Market Sentiment The burn rate’s volatility has often coincided with fluctuations in trading volume and overall market sentiment, and this latest crash raises doubts about whether investors are still committed to the long-term burn initiative. The idea behind the Shiba Inu burn process, where SHIB tokens are sent to any of three dead wallets, is that the available supply diminishes by continuously removing SHIB tokens from circulation. This, in turn, makes the remaining tokens more valuable and helps prevent further price declines during market crashes. Related Reading At the time of writing, Shiba Inu is trading at $0.00001285, up by about 3% in the past 24 hours. A resurgence in the burn rate would be an important factor for Shiba Inu to maintain its recent gains and push for further recovery. A consistent and substantial burn rate would contribute to the notion that Shiba Inu has already established a local bottom at $0.00001102 and pave the way for a stronger uptrend. On the other hand, if the burn rate continues to decline over the next 24 hours, it could weaken this recovery effort and increase the likelihood of a retracement back toward its March 11 low. Featured image from Gemini Imagen, chart from TradingView
Dogecoin Recovery In Sight? Key Metrics Predict A Strong Bounce
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. After months of struggle in gathering momentum, Dogecoin (DOGE) might be about to undergo a dramatic price reversal. Monitoring the movements of the meme coin, analysts believe it has hit a turning point and might thus launch a quick comeback. The question at hand is whether Dogecoin can seize this opportunity and emerge from its decline, as key indicators are currently displaying bullish signals. Related Reading Analysts Spot Signs Of A Bottom Some analysts contend that Dogecoin has already reached its lowest price point, which could potentially lead to a rebound. A prominent crypto analyst, Trader Tardigrade, has observed that DOGE has been adhering to a long-term price channel. The overall pattern indicates that a bottom has likely formed, despite the fact that it has momentarily moved outside the channel’s boundary. #Dogecoin has been following this Macro Channel since its inception 🔥Deviations have occurred at the channel’s edges historically.If $Doge remains within the channel without deviation this time, it has already reached the bottom 🚀 pic.twitter.com/fzDDW4HDqe — Trader Tardigrade (@TATrader_Alan) March 13, 2025 Other analysts noted that the TD Sequential indicator, which is used to predict trend reversals, has sent out a buy signal on Dogecoin’s daily chart. This indication has historically been linked to price gains, suggesting that DOGE might be about to enter an upward trend. Trader Tardigrade’s analysis on X. Crucial Levels To Keep An Eye On Support and resistance levels will be critical in determining Dogecoin’s next moves. At the moment, the $0.16 level is showing signs that a support will emerge. Market observers believe that if the meme coin can keep a solid footing on this level, it could muster enough steam to rally toward much higher price targets. Under ideal conditions, some predictions suggest that Dogecoin may reach $2.74. Compared to its current state, this would represent a significant price hike. However, DOGE needs to surpass a number of resistance zones, including the $0.30 and $0.50 marks, before this can happen. DOGE is currently trading at $0.16. Chart: TradingView Uptick In Market Activity Encourages Optimism Another element that is giving Dogecoin a good ounce of lift is the elevated market activity of the meme crypto. For instance, in a 24-hour span, the number of active wallets on the network jumped 270% and totaled 264,000 overall. Usually, an increase in this department indicates rising enthusiasm among consumers and investors. Meanwhile, significant investors, referred to as “whales,” have been acquiring DOGE at an accelerated rate. Whales accumulated 1.7 billion DOGE in their accounts over the past 72 hours. This level of accumulation suggests that significant stakeholders value Dogecoin at its present price. Related Reading Dogecoin Outlook While the signs are promising, Dogecoin still faces uncertainty. Market sentiment, broader crypto trends, and potential regulatory moves—such as a Securities and Exchange Commission-approved Dogecoin ETF—could all impact its price trajectory. Featured image from Gemini Imagen, chart from TradingView
TRUMP Token Takedown—Did Insiders Plan The Crash?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. The official TRUMP token, designed to commemorate US President Donald Trump’s second presidency, was an instant hit upon launch. The token surged from less than $10 on January 18th to a high of $74.59 on January 20th before quickly surrendering some gains within hours. Although the token remained competitive days after the president’s inauguration, by trading above $30, it quickly faded under pressure. TRUMP dipped below $20 on February 2nd, and it’s now trading at $10. Related Reading Observers say that the broader crypto market and TRUMP’s token are crashing. However, TRUMP’s crash is not without controversy—10x Research has disclosed that there was “insider play” before the coin’s massive drop. While most traders lost billions of dollars during its crash, a sizeable number of early investors cashed in for huge profits. Early Investors Cash Out Before Listing In Major Exchanges According to 10x Research, most early investors cashed in just before major exchanges listed the coin, as its value moved past $60 and briefly hit $70. The coin’s rapid surge in price was welcomed by everyone, with the early investors getting the best seats in the house. After its quick rise, TRUMP suffered a massive drop. From the low $20s, it’s now trading at $10, leaving retail and small traders with losses. The $TRUMP Dump: When the Hype Fades, Reality Hits 👇1-4) A clear example is the $TRUMP coin, where insiders and those with early access at the Washington crypto ball could buy in before the public, while exchanges rushed to list the token as it soared past $60. After briefly… pic.twitter.com/PVzLcVbL0m — 10x Research (@10x_Research) March 11, 2025 Losses related to the TRUMP price drop are reminiscent of previous bearish cycles, including the 2021 NFTs boom and bust. With the TRUMP token, the value significantly dropped within the week. By looking at the bigger picture, TRUMP token shed more than 80% since its peak last January. And on-chain data suggests that early investors quickly liquidated their positions, with retail and small traders used as pawns. Solana Chain Takes A Hit The Solana ecosystem is one of the biggest losers in the token’s crash. Aside from TRUMP, a few other Solana-based tokens faced selling pressure, including Raydium’s RAY token, which dropped by 60% in the last month. Even Solana’s native token, SOL, dropped by over 40% over the same period. The drop in value for SOL-based tokens suggests that the interest in meme coins or speculative tokens is waning. TRUMP is currently trading at $10.35. Chart: TradingView Pump.fun Also Sees Dramatic Shift Pump.fun, another leading meme coin platform, has also witnessed a dramatic drop in network activity. Over the past year, this platform processed 8.4 million meme coin launches, peaking days ahead of Trump’s inauguration. Related Reading From Christmas season to early January, up to 1.7 million meme tokens were launched on Pump.fun. However, the daily launches on Pump.fun have dropped. Also, participation rates have fallen on this platform, reflecting declining interest on this asset class. Feature image from Newsweek, chart from TradingView
XRP Set For A ‘Life-Changing’ Month? Expert Sees $27 Incoming
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. XRP is once again the subject of bold forecasts, with market researcher Egrag Crypto anticipating a significant price boom. According to him, a major breakthrough pattern indicates that XRP might reach $27 in the coming months. This prediction has stirred discussions among investors, with some optimistic and others dubious. Related Reading XRP’s Breakout From A 7-Year Triangle Egrag Crypto could not be more upbeat about his projection. He assured investors that one month “will change their lives forever.” He bases this forecast on a critical breakout from a seven-year symmetrical triangle. In November 2024, XRP breached this trend, resulting in a dramatic 283% surge. The breakout has led him to believe that the token is on the verge of another explosive move. #XRP – 1 Month Will Change Your Life Forever ($9.7 – $27) 🔵 The Power of Market Waves & NarrativesWhen @ElonMusk added #BTC to Tesla’s balance sheet last cycle, many thought all companies would follow. They didn’t. Narratives come and go, but markets move in cycles.… pic.twitter.com/dtGFQjeUE2 — EGRAG CRYPTO (@egragcrypto) March 7, 2025 Many traders use these trend lines to spot possible pricing patterns. The case is that earlier breakouts have caused significant price movements and history often repeats itself. Still, other observers think that legal obstacles and macroeconomic variables could pose a challenge to XRP’s development. Key Levels To Track There is not a straight line to $27. Egrag Crypto exposes the major hurdle XRP has to overcome. The token must first break through $2.62 then cruise to $3.00 and $3.40. Historically, these price points have been key obstacles, stopping XRP from rising. Should XRP effectively get rid of these obstacles, the next aim is roughly $6. Egrag projected back in December 2024 that by the end of the month this level will be attained. His latest outlook suggests that a push beyond $6 could lead to a full rally toward $27. XRP market cap currently at $127 billion. Chart: TradingView.com Comparisons To The 2017 Bull Run Some of the excitement around this prediction comes from historical trends. Egrag Crypto and others have drawn comparisons between XRP’s current trajectory and its performance in 2017. Back then, XRP experienced a massive rally that took its price from a few cents to an all-time high of $3.40. If the token follows a similar path, a rally of over 700% could be in play. That would mean XRP jumping from its current levels to $27. While such a move isn’t impossible in the crypto market, skeptics warn that past performance doesn’t guarantee future results. Related Reading Skepticism And Investor Caution Not everybody is persuaded. The continuing legal dispute between Ripple and the SEC is one of the regulatory problems that XRP has faced. These legal questions worry some traders since they could stop any meaningful price movement. Additionally, broader market conditions, such as interest rate decisions and Bitcoin’s price action, could influence whether XRP sees another massive rally or remains range-bound. Despite these doubts, Egrag Crypto is still sure about his estimate. Whether XRP reaches $27 or not, the next major movement in the next months will be vital in deciding it. Investors will be watching closely to see if this bold projection comes true. At the time of writing, XRP was trading at $2.19, down 1.60% and 17.53% in the daily and weekly frames. Featured image from Gemini Imagen, chart from TradingView
Could Cardano Be The Next Big Crypto Winner? Analyst Points To $2 Target
They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley! So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better. Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
XRP Outshines 92% Of Altcoins, Analysis Shows—Here’s Why
They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley! So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better. Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
Shiba Inu Market Struggles Might Just Be The Calm Before A 400% Storm
They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley! So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better. Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
Technical Indicator Shows Ongoing Rally For Dogecoin Despite Bearish Developments
Este artículo también está disponible en español. Dogecoin is holding firm above major support at $0.22 despite repeated threats to break below in the just concluded week. Amidst these fluctuations, an interesting technical indicator suggests that Dogecoin’s long-term rally is still intact. This technical indicator’s outlook was pointed out by crypto analyst Trader Tardigrade, who used the Gaussian Channel, a popular momentum tool, as evidence that Dogecoin’s bullish momentum is still in play despite the current selling pressures. Related Reading Gaussian Channel Shows Continued Bullish Strength For Dogecoin Dogecoin’s price trajectory has been highlighted by a decline since mid-January. This decline has seen Dogecoin fall by as high as 47% from a lower high of $0.4159 on January 18. The price correction is even more pronounced when considering its multi-year high of $0.475, which it achieved on December 9, 2024, from which Dogecoin has now corrected by approximately 54%. This notable correction has also seen the development of a few bearish signals on the Dogecoin price chart. One such bearish development is the rejection at a macro resistance and the failure to reclaim the macro golden pocket in the recent week. However, despite the notable correction in the Dogecoin price, the meme coin seems to be still trading in an uptrend in the longer term. This long-term outlook is revealed through the analysis of Dogecoin on the weekly candlestick timeframe using the Gaussian Channel. The Gaussian Channel is a lesser-known technical analysis tool that helps identify trends and cycles in price movements by highlighting green and red zones in different market cycles. The green zones represent periods of upward momentum, where the price is expected to keep growing. On the other hand, red zones indicate periods of correction or consolidation, during which the market pauses before resuming its upward trajectory. DOGE is currently trading at $0.24. Chart: TradingView According to a Dogecoin price chart shared by crypto analyst Trader Tardigrade on social media platform X, Dogecoin entered into its most recent green zone on the Gaussian Channel in 2024. However, despite the recent correction, it has remained in this green zone, indicating that Dogecoin’s uptrend is still active in the long term. Image From X: Trader Tardigrade Long-Term Price Target For DOGE With the Gaussian Channel still indicating the green zone for Dogecoin, the rally could resume anytime soon. According to Trader Tardigrade’s projection, this rally will be enough to push DOGE above multiple resistance levels at $0.3, $0.4, and the recent multi-year high of $0.475. If momentum builds and buying pressure increases, Dogecoin may even retest its all-time high of $0.7316, which has remained unchallenged since the peak of the 2021 bull run. Related Reading Beyond these immediate targets, Tardigrade’s analysis suggests that the meme coin’s long-term trajectory could extend well beyond the $1 mark. The forecast envisions an even more aggressive rally that could see Dogecoin climbing as high as $4.1. At the time of writing, Dogecoin is trading at $0.247, up by 1.5% in the past 24 hours but down by 25% since the beginning of February. Featured image from TheStreet, chart from TradingView
Panic Or Opportunity? Dogecoin Whales Liquidate 100 Million Coins
The crypto market is paying attention to a massive Dogecoin (DOGE) transaction. A whale transferred 100 million DOGE, or about $25.42 million, to Binance. The move has raised questions about whether a sell-off is about to happen or if this is just another typical shift in holdings. Whale Activity Sparks Concerns When a major cryptocurrency holder moves a sizable amount of their holdings to an exchange, it usually means they want to sell. The price of DOGE may drop as a result, which would cause smaller investors to react. However, cryptocurrency expert Ali Martinez noted a decline in whale activity overall, suggesting that major investors are not acting aggressively for the time being. Whale activity on the #Dogecoin $DOGE network has declined by nearly 88% since mid-November! pic.twitter.com/6X4CIH3mf8 — Ali (@ali_charts) February 17, 2025 DOGE’s present market performance points to vagueness. As of the time of writing, the price is $0.255622; an intraday high is $0.257605 and a low is $0.250725. These swings imply a rather limited trading range; but, if more significant holders decide to sell their shares, volatility might increase. Market Sentiment Remains Divided According to certain traders, the whale transfer is a bearish signal, while others believe that its influence may be negligible unless an influx of additional coins occurs. Dogecoin has a history of reacting sharply to whale movements; however, the aggregate selling pressure appears to be subdued this time. The ongoing discussion regarding a potential DOGE exchange-traded fund (ETF) is another significant factor that affects sentiment. If an ETF acquires momentum, it may attract institutional investors, potentially counteracting any selling pressure from whales. Nevertheless, the market is currently in a state of supposition, as no official approvals or timelines have been announced. The Road Ahead For Dogecoin Despite the whale move, the price of DOGE continues to remain steady, but if market sentiment shifts, there could be a further drop. Further dumping may occur if the price of DOGE drops below $0.25, which might further lower the price. On the other hand, strong purchasing activity may act as a barrier to further decrease. Investors’ Options The whale movement reminds us of the speed with which retail trade’s market dynamics could shift. Some people might decide to keep their positions since they hope that possible catalysts like the ETF will raise prices, while others take a more cautious approach, looking for signs of increased whale activity before deciding on what to do next. Featured image from Medium, chart from TradingView
Solana Faces Double Trouble: 55% Network Drop And Price Woes
Este artículo también está disponible en español. SOL, the native token of the Solana network, is one of the worst-performing cryptos in recent days. Once the darling of the meme coin crowd, the popular blockchain is facing its toughest test yet with its massive price drop and dip in network activity. SOL is currently trading at $173, but it’s down nearly 10% from last week’s price and 15% from two weeks ago. If we zoom out on its price history, the token is down 27.5% from last month’s price. Related Reading Last Tuesday, Solana shed 10% in 24 hours, triggering concerns among holders and long-term investors. According to on-chain data, the token drop was partly driven by the embarrassing launch of LIBRA, which is currently under investigation. LIBRA’s dump after its launch caused panic among meme coin holders, with SOL as one of its most prominent victims. Network Activity Drops 55% With Low Volume Solana’s current woes go beyond the recent price action. According to data shared by crypto analyst Ali Martinez, the chain’s activities are slowing down. A Twitter/X post shared on February 17th noted that the number of active addresses on the network dropped to 8.4 million today from 18.5 million in November 2024. This data reflects a 55% drop, an alarming sign that developers are leaving the platform in droves. Also, the total volume transferred to the network dropped from $2 billion in November to just $26 million this week. This 99% drop reflects the project’s loss of momentum. The total volume transferred on the #Solana $SOL network has dropped from $2 billion in November to just $26 million today! pic.twitter.com/qgCOmjd2It — Ali (@ali_charts) February 17, 2025 More Challenges Up Ahead For SOL Crypto analysts are bracing for the worst for SOL in the next few weeks. Over the next three months, around 15 million SOL tokens valued at $7 billion will be unlocked. And putting the 4.715% inflation rate in the equation, the increased supply of SOL tokens in the market will create selling pressure. SOL is currently up, but its price is way below its peak. The token is down 27.5% from last month’s price and boasts a market capitalization of around $84 billion. Now, insiders and investors hope the spot SOL ETFs will be approved in the short term. Are SOL Meme Coins Next? The SOL price action benefitted from the surge of newly minted meme coins on the platform. However, the number of tokens minted on the platform has decreased considerably in the last few months. Solana was the platform of choice for degens and developers then, thanks primarily to its fast transactions and low cost. SOL is now trading at $174. Chart: TradingView However, recent events affected the platform’s reputation, particularly the launch of SOL-based meme coins like MELANIA and LIBRA. Related Reading For example, LIBRA was launched with much fanfare, with Argentine President Javier Milei sharing a post and recommending the project. However, minutes after making his post public and pushing the new token past $5, it immediately crashed, leading many to say it was a classic “rug-pull.” MELANIA is also linked to LIBRA; some analysts say they share the same development team. Featured image from Shutterstock, chart from TradingView
Solana’s Market Woes Continue With A 32% Monthly Drop—Details
Este artículo también está disponible en español. Solana’s recent price behavior has sparked anxiety in the the digital currency market. The once-soaring blockchain has fallen significantly as a result of a widespread slump. Solana native token (SOL) has been down 32% in the last four weeks, trailing Bitcoin’s 10% decline and Ethereum’s 15% dip. As the network suffers with the fallout from a meme currency frenzy that left investors reeling, a sudden sell-off occurs. Related Reading Meme Coin Mania Turns Into Disaster Solana has been the epicenter of an explosive meme coin growth. Although this initially stimulated trading volume and interest, it has since led to severe negative repercussions. Rug pulls and failed initiatives on the network have reportedly resulted in a loss of more than $26 million. Many developers abandoned projects immediately after raising funds, leaving investors with tokens that were of no value. The issue has escalated at an alarming rate. In the span of 30 days, the Solana ecosystem has lost at least 12 meme coin initiatives. The token’s price has declined as a result of this surge of failures, which has also negatively impacted investor sentiment. It’s over for Solana Worse than the FTX collapse$LIBRA, #MELANIA changed everything 🧵: Here’s what went down and what’s next… pic.twitter.com/mo6TMBpift — Xremlin (@0x_gremlin) February 17, 2025 Is Solana In Trouble? Crypto trader Xremlin recently declared on X that “it’s over for Solana,” comparing its decline to the FTX collapse—only worse. He pointed out that Solana’s recent surge in popularity was driven by speculation and the rise of meme coins. Much of this activity stemmed from low transaction fees, attracting traders to platforms like Pump.fun. However, many of these tokens are seen as pump-and-dump schemes, adding to the negative sentiment around Solana’s ecosystem. Ray Of Hope? Meanwhile, Glassnode data indicates that Solana surpassed Ethereum on 23 of 49 days since the beginning of the year. Nonetheless, Solana has demonstrated greater susceptibility to market declines. Since the beginning of the year, #Solana outperformed #Ethereum for 23 out of 49 days. However, $SOL has been more sensitive to recent drawdowns, with 30D price change clocking in at -32% as of Feb 17 (#ETH: -17%, #BTC: -8%) https://t.co/7p1xFARDLD pic.twitter.com/GE7WaV4hBi — glassnode (@glassnode) February 18, 2025 Negative Impact On Network Solana’s appeal as a low-cost, high-speed blockchain has attracted traders who are interested in leveraging speculative ventures. The proliferation of meme coins that resemble scams has, however, prompted grave apprehensions. Currently, numerous analysts are cautioning that Solana is at risk of becoming a breeding ground for pump-and-dump schemes, rather than an ecosystem that fosters sustainable development. SOL market cap currently at $84 billion. Chart: TradingView.com Congestion issues on the network is also another big issue. Because meme currencies are so popular, the system has seen a drop in transaction speeds and occasional spikes in fees. This has caused some users to be frustrated and has made many wonder if Solana can sustain spikes in activity without slowing down. Related Reading Bitcoin And Ethereum Exhibit Resilience Bitcoin and Ethsereum have weathered the latest slump with comparatively little damage, while Solana is having trouble. Bitcoin has fallen by 10% in the last month, whereas Solana has fallen by 33%. Even while it is still in a better position than before, Ethereum, which has also been under selling pressure, has seen a 17% drop. During periods of uncertainty, investors are progressively gravitating toward established assets. Bitcoin and Ethereum have been able to maintain a higher level of market confidence by primarily avoiding the chaos that has been caused by meme coin implosions, in contrast to Solana. Featured image from Gemini Imagen, chart from TradingView
Dogecoin Vs. Bitcoin: Popular Investor Says Memecoin More Superior With ‘World’s Best Chart’
Este artículo también está disponible en español. A known crypto investor made a bold claim that Dogecoin is the king of all cryptocurrencies, stirring a debate and discussion among members of the cryptocurrency community. Global Macro Investor founder and CEO Raoul Pal believes that the popular meme coin is capable of becoming “the hardest money ever created,” citing how Dogecoin has outperformed Bitcoin historically. Related Reading ‘Greatest Chart Of All Time’ Pal asserted the superiority of the prominent meme coin to Bitcoin, saying that its dominance could make it the “hardest” currency ever created. The top executive’s recent statement made ripples in the crypto community by making a strong argument that Dogecoin is better than the firstborn cryptocurrency, Bitcoin. One of the most WILD things in all of crypto is that $DOGE has proven to be harder money than $BTC and has outperformed by 550% since launch (10 years!) and looks like it might even to continue to outperform over time!🤣 What a time to be alive… pic.twitter.com/3EXQFEzPsb — Raoul Pal (@RaoulGMI) November 24, 2024 In a recent broadcast on his X account, the Global Macro Investor CEO showed the chart of Dogecoin, which he described as super-bullish, branding it as the “greatest chart of all time.” Pal is known to be a staunch supporter of Dogecoin and previously revealed that the popular meme coin is among his favorite assets. The advisory publication executive has disclosed in previous interviews that he owns a large concentration of Dogecoin in his portfolio. Join me for Drinks… https://t.co/yl7VSaYeHt — Raoul Pal (@RaoulGMI) February 11, 2025 Dogecoin Superiority Theory The former hedge fund manager believes that the meme coin is “the king of all cryptocurrencies”, saying that Dogecoin trumping Bitcoin is a possibility that could happen in the future. Pal considers the popular token as superior to Bitcoin, rooting his claim on Dogecoin outperforming Bitcoin historically. He further supported his Dogecoin superiority theory by noting that the meme coin has outdone the largest cryptocurrency in terms of market capitalization, outperforming Bitcoin’s by an astounding 500% since it was created. DOGE market cap currently at $40 billion. Chart: TradingView.com CEO Foresees Dogecoin Extending Its Gains Data shows that Pal’s assumption is accurate since the numbers do not lie. Statistics indicate that Dogecoin has outperformed the flagship cryptocurrency since its debut in 2013. When it was launched, DOGE’s price was $0.00056 per coin but now that price has skyrocketed by 461,407%. In comparison, during Dogecoin’s launching, the Bitcoin price was pegged at $1,210 per coin. Now, the crypto is being traded at $96,340, a 7,862% increase since then. Related Reading On The Verge Of A Breakout Pal predicted that Dogecoin could potentially experience a breakout, a situation that would further stamp its superiority against Bitcoin. As of writing, DOGE is being traded at $0.269 per token with a market cap of $39 billion. Pal argued that once Dogecoin scores a breakout against Bitcoin, it will earn the title of the hardest money in the world, claiming DOGE will become the new standard and dethrone Bitcoin as the cryptocurrency top dog. Meanwhile, some analysts take the prediction with a grain of salt. They say that Pal’s predictions might be too ambitious, considering the gap in quality between the two digital assets. Featured image from Gemini Imagen, chart from TradingView Source link