The Current State of Bitcoin and Shiba Coin: A Look at Recent Events - Latest cryptocurrency news

The Current State of Bitcoin and Shiba Coin: A Look at Recent Events

As Bitcoin approaches the weekend, it has found buyers around $37,300. After a challenging week filled with events such as the Binance agreement, the Kraken lawsuit, and the release of the Fed minutes, the question on whether the expected rise in Bitcoin price will also benefit Shiba Coin investors is on the agenda. Current charts show that investors are divided at a decision point and there are no clear indications of a specific direction.

Despite expectations that the price of Bitcoin will continue to rise, Samson Mow, CEO of JAN3, expresses that ETF approval is almost certain and even single-digit targets may be low for Bitcoin. The expert suggests that those who approach price increases with caution may be surprised.

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While Shibarium, which has been a major disappointment for Shiba Coin investors, is expected to be an important rally catalyst regardless of price, it is observed that it has not received the expected attention and has been overshadowed by many competitors. It is noted that only 18 new users joined the platform in just one day and the number of active users remains low.

After reaching a peak of $0.0000096, the Shiba Coin price dropped to $0.0000080. It is stated that the price is declining due to profit-taking, indicating that investors do not believe in a true reversal of the coin.

Currently, Shiba Coin is fluctuating between $0.0000076 and $0.0000085. It is predicted that if belief in Bitcoin’s short-term resistance weakens, Shiba Coin may see closings below $0.0000075. It is also mentioned that there is no Shibarium support and no product description to support the price, indicating that this situation has not been taken into account. It is reminded that low volatility may continue until Monday due to the holiday, but unexpected movements can still occur during these periods.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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