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Cryptocurrency News Articles
Shiba Inu (SHIB) Monthly Gains of 18% Hint at a Pump as Burn Rates and Technical Indicators Align
Oct 25, 2024 at 07:44 pm
SHIB/USD saw its burn rate jump by 65,529.7% since burning 2.7 million SHIB in the past 24 hours, according to Shibburn data.
Shiba Inu's (CRYPTO: SHIB) burn rate surged 65,529.7% as 2.7 million SHIB were burned in the last 24 hours, according to Shibburn data.
Shibarium data showed daily transactions, which had remained steady over the last 30 days, surged from 3.2 million to 4.8 million on Oct. 24.
The large transaction volume dropped by 23%, while daily active addresses increased by 1.9%, IntoTheBlock data showed. Large holders still held 73% of the SHIB in circulation, indicating confidence among big investors.
Shiba Inu's recent 18% monthly gains came amid a broader bullish move in Bitcoin prices, which lifted many altcoins.
Benzinga technical analysis showed SHIB's relative strength index at 57.1 as of Oct. 24, indicating moderate buying pressure and suggesting a mildly bullish outlook.
The 50-day Simple Moving Average (SMA) crossed above the 100-day SMA, indicating bullish short-term momentum since the short-term price momentum exceeds the long-term trend.
The influence of meme coins will be extensively covered at Benzinga's upcoming Future of Digital Assets event on Nov. 19.
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- Arbitrum (ARB), Polygon (MATIC), and MultiversX (EGLD): Is There Hope for a Comeback in 2025?
- Oct 26, 2024 at 12:20 am
- 2024 has been a challenging year for many cryptocurrencies, with some tokens experiencing major declines. Among the hardest hit are Arbitrum (ARB), Polygon (MATIC), and MultiversX (EGLD), each among the worst performing cryptocurrencies of 2024, shedding over 64% of their value year-to-date (YTD).
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- BRICS Summit Winds Down With Calls for Independent Payment Systems Free From Western Influence
- Oct 26, 2024 at 12:20 am
- The annual BRICS Summit in Kazan is winding down. While the much-touted BRICS digital currency did not materialize, some members expressed grievances with the Western world and called for alternative payment systems between member states.
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- The Rise of Spot Bitcoin (BTC) and Ethereum (ETH) Exchange-Traded Funds (ETFs): A Transformative Era in Cryptocurrency Investment
- Oct 26, 2024 at 12:20 am
- The launch and approval of spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) have significantly reshaped the landscape of cryptocurrency investment.
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- Bitcoin Maximalist Max Keiser Renews Scathing Attack on Altcoins, Claims Ethereum, Solana, and XRP Destined to Lose All Value
- Oct 26, 2024 at 12:20 am
- Popular Bitcoin maximalist Max Keiser has once again launched a scathing attack on altcoins, claiming that major cryptocurrencies like Ethereum (ETH), Solana (SOL), and XRP are destined to lose all value in comparison to Bitcoin (BTC).