As SHIB and PEPE Holders Seek Stability, RCO Finance Emerges as a Hedge

SHIB's price is slipping amid market uncertainty, while PEPE whales are cashing out, triggering sharp declines

Shiba Inu (CRYPTO: SHIB) and PEPE traders are in a tough spot as both coins experience price troubles. SHIB continues to decline amid a broader market downturn, while PEPE is facing a major whale sell-off.

Shiba Inu (CRYPTO: SHIB) and PEPE traders are in a tough spot as both coins experience price troubles. SHIB continues to decline amid a broader market downturn, while PEPE is facing a major whale sell-off.

As meme coin investors navigate volatility, many are turning their attention to a promising newcomer—RCO Finance (RCOF). Unlike hype-driven assets, RCOF offers an AI-powered investment ecosystem with ultra-low fees and a privacy-first DeFi model.

As meme coin investors navigate volatility, many are turning their attention to a promising newcomer—RCO Finance (RCOF). Unlike hype-driven assets, RCOF offers an AI-powered investment ecosystem with ultra-low fees and a privacy-first DeFi model.

As traders seek stability and high-growth potential, could RCOF be the smarter bet?

Shiba Inu Price Drops 1.53% As Market Mood Sours

Shiba Inu's latest price drop comes amid a broader trend of market uncertainty. After reaching a high of $0.00001567 on March 26, SHIB has seen a decline, erasing its weekly gains.

Shiba Inu's latest price drop comes amid a broader trend of market uncertainty. After reaching a high of $0.00001567 on March 26, SHIB has seen a decline, erasing its weekly gains.

A wave of profit-taking and macroeconomic concerns, including the potential for a return of inflation, have dampened investor sentiment.

To complete the picture, a new phishing scam targeting Shiba Inu holders has emerged, instilling fear among the community. The fraudulent messages, disguised as Binance security alerts, claim that user accounts are being compromised and SHIB holdings are in danger.

To complete the picture, a new phishing scam targeting Shiba Inu holders has emerged, instilling fear among the community. The fraudulent messages, disguised as Binance security alerts, claim that user accounts are being compromised and SHIB holdings are in danger.

These messages, which are being sent via Telegram, are a scam designed to steal users' login credentials and cryptocurrency.

Shiba Inu price action over the last 5 days.

The scam messages read:

"Attention Binance users! Due to recent phishing attacks, we are implementing new security measures. Please update your account to avoid having your funds stolen and ensure the safety of your crypto assets."

The messages then include a link that appears to take users to a Binance login page. However, the page is fake and designed to steal users' login credentials and any remaining cryptocurrency from their accounts.

The messages conclude with a warning that "any delay in updating your account may result in the suspension of your Binance account."

This scam is particularly concerning given the recent increase in cryptocurrency phishing attacks. Earlier this month, a group of hackers stole $7.8 million in cryptocurrency from over 300 users of the DeFi protocol, Anyswap.

The hackers used a phishing scam to trick users into connecting their cryptocurrency wallets to a malicious website, where the hackers were able to steal their funds.

World Bank Warns Of Looming Inflation As US Consumer Prices Rise More Than Expected

The world's macroeconomic outlook remains bleak, according to the latest report by the World Bank on Tuesday. In its Global Economic Prospects summary, the bank downgraded its 2024 growth outlook and warned of a "looming threat" of sticky inflation.

The report highlights how the global economy is facing a confluence of challenges, including the war in Ukraine, tighter monetary policy in major economies, and the lingering effects of the COVID-19 pandemic.

These factors are combining to weigh on economic activity and keep inflation elevated.

The report also notes that the U.S. Federal Reserve's rapid interest rate hikes, part of its efforts to curb inflation, have already begun to impact the global economy.

While the World Bank economists do acknowledge a "modest recovery" in 2024, they caution that this will likely be short-lived. They predict that global output will expand by 2.4% in 2024 and 3.0% in 2025.

The report also includes a new country-level analysis, which finds that emerging market and developing economies are expected to contribute an increasing share of global growth in the coming years.

The report concludes by warning that the risks to the macroeconomic outlook are "skewed to the downside."

The U.S. Bureau of Labor Statistics reported on Wednesday that the Consumer Price Index increased by 0.2% in May, following no change in April. Economists polled by Reuters had expected a rise of 0.1%.

The CPI, which measures the prices of a basket of goods and services used by consumers, rose 3.8% year-over-year, in line with economists' expectations.

The report also showed that the core CPI, which excludes volatile food and energy prices, increased 0.3% month-over-month, in line with economists' expectations.

The core CPI rose 4.7% year-over-year, following April's reading of 4.6%.

The small rise in the CPI and the sticky core inflation will likely keep the Federal Reserve on track to raise interest rates later this year as it tries to cool the red-hot economy and bring inflation to its 2% goal.

The report showed that the index for food and beverages decreased 0.4%, while the index for energy increased 0.5%.

The shelter index increased 0.6%, following April's increase of 0.4%.