Shiba Inu Open Interest Suffers 40% Crash, What Does This Mean For Price?

The Shiba Inu open interest has hit a snag after a particularly good run. The open interest had risen quickly alongside the price of the meme coin, which climbed close to its previous all-time high earlier in March. However, the cryptocurrency has been unable to maintain this uptrend, leading to a significant drop in the open interest. Shiba Inu Open Interest Sees Over 40% Decline According to data from Coinglass, the Shiba Inu open interest had hit a new two-year high on March 6 when its price crossed over the…

Shiba Inu Price Soars 10% In Reaction To Explosive 2,367% SHIB Burn Surge

Shiba Inu (SHIB), a prominent Ethereum-based cryptocurrency, witnessed a substantial rally, bolstering the interest of crypto enthusiasts worldwide. The nearly 10% surge in price on Monday has been attributed to a wave of market optimism, coinciding with a significant burn surge revealed by Shibburn, the meme coin’s burn tracker. The recent rally of meme coins can be attributed to various factors. Firstly, the growing market sentiment and excitement surrounding meme coins have attracted investors seeking high-risk, high-reward opportunities. Additionally, the influence of social media platforms, viral marketing, and endorsements from…

Bitcoin Sentiment Cools Off, Price Rebound Soon?

The Bitcoin Fear & Greed Index shows that the sentiment around the asset has cooled off a bit recently, something that could pave the way for a rebound. Bitcoin Fear & Greed Index Has Gone Through Some Decline Recently The “Fear & Greed Index” is an indicator created by Alternative that tells us about the average sentiment present among the investors in the Bitcoin and wider cryptocurrency market To determine the trader mentality, the index takes into consideration for these five factors: volatility, trading volume, social media sentiment, market cap…

SOL Price Crosses $200 Milestone, What’s Next For Solana?

Solana is gaining bullish momentum above $200. SOL price is still showing positive signs, and it could even surpass the $220 resistance in the near term. SOL price gained bullish momentum and cleared the $200 resistance against the US Dollar. The price is now trading above $200 and the 100 simple moving average (4 hours). There is a connecting bullish trend line forming with support at $195 on the 4-hour chart of the SOL/USD pair (data source from Kraken). The pair could continue to rally if it clears the $205…

Ethereum Price Grinds Lower, Why Pullback Is Not Over Yet

Ethereum price started a downside correction below $3,650. ETH traded below $3,500 and is currently attempting a decent recovery wave in the near term. Ethereum started a downside correction below the $3,700 zone. The price is trading below $3,700 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $3,660 on the hourly chart of ETH/USD (data feed via Kraken). The pair could resume its increase if it clears the $3,750 resistance zone. Ethereum Price Dips Ethereum price started a downside correction below…

Bitcoin Price Hits Support But Fresh Rally Faces Many Hurdles

Bitcoin price tested the $65,000 support zone. BTC is now rising and attempting a fresh increase above the $70,000 resistance zone in the near term. Bitcoin price is showing a few positive signs from the $65,000 zone. The price is trading below $70,000 and the 100 hourly Simple moving average. There was a break above a major bearish trend line with resistance at $67,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it clears the $70,000 resistance zone in…

MATIC Price Slumps 10% Amidst Market Downturn

MATIC, the native token of the Polygon network, has witnessed a significant decline in its value. It has fallen by more than 10% in the past week and 8% in less than 24 hours as the general cryptocurrency market continues to grapple with a cloud of negative sentiment. Fortunately, the latest on-chain analysis has revealed the important levels that investors should look out for following the latest decline in the MATIC price. Over 10,900 Addresses Bought 600 Million Polygon Tokens At This Price According to a recent post on X…

XRP Records Massive 80% Surge In Trading Volume, Can Price Reach A New ATH?

XRP continues to show strength despite largely underperforming during the ongoing bull market. Interestingly, the crypto witnessed a surge in activity last week, with trading volume surging in tandem. Particularly, the trading volume saw an increase of over 80% recently.  However, the boost in activity and trading volume has not necessarily translated into continuous price growth, as XRP is currently on a 13% percent correction from the $0.74 price level on Monday. XRP Trading Volume Surges, But Will Price Follow? XRP witnessed a surge earlier in the week which saw…