Shiba Inu Shows Special Pattern Indicating Potential Uptrend, Controversial XRP Outlook Shared by Top Crypto Trader, Coinbase Lists PEPE Meme Coin: Crypto News Digest by U.Today
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Here are the top three news stories over the past day presented to you by U.Today.
Shiba Inu (SHIB) shows perfect Elliott Wave pattern
Shiba Inu appears to be following a traditional Elliott Wave pattern, suggesting a structured plan for its future movements. According to Elliott Wave Theory, during significant trends, markets frequently exhibit a five-wave pattern, with two waves moving against the primary trend direction (2 and 4) and three waves moving in the primary trend direction (1, 3 and 5). At the moment, SHIB seems to be in the second wave of a correction after an initial rally, with strong potential for significant upward movement in the subsequent third wave. It is crucial for SHIB to maintain support at $0.000020, as it would strengthen the structure for this anticipated third wave growth, potentially pushing the price to resistance levels between $0.000035 and $0.000040. While Elliott Wave Theory has been successfully applied on various markets, the future trajectory of SHIB remains to be seen, as it depends on many factors, including investor sentiment, market news and trading volume.
Gamza KhanzadaevTop crypto trader issues very controversial XRP price outlook
In a recent X post, popular crypto trader "DonAlt" shared his perspective on XRP, as the asset experienced a notable price increase of 14% this week and 47% over the past week, marking its highest value since July 2023. While it may seem to be an encouraging sign for XRP, DonAlt believes that the situation is more complicated than it appears. The trader pointed out that XRP and other long-established cryptos may struggle to keep the interest of investors, suggesting that many former investors might prefer exploring newer, trendier options rather than returning to old-timers like XRP. Nevertheless, DonAlt remains optimistic about a potential price spike for XRP, expressing a "gut feeling" about a strong upward move. However, he doubts that the asset will be able to capture and maintain the attention of newer retail investors.
Coinbase lists PEPE meme coin
Yesterday, Pepe Coin (PEPE) was listed on Coinbase, one of the leading cryptocurrency exchanges in the U.S., following an announcement by Coinbase CLO Paul Grewal. "You've wanted the frog for a long time. Well, you're about to get the frog," Grewal said in a statement on X. Interestingly, this announcement coincided with news of PEPE's listing on Robinhood, another significant U.S. brokerage platform, highlighting the competitive landscape surrounding digital asset listings. Following these developments, the price of PEPE surged by an impressive 47.8% within just one hour, reaching over $0.000019, with a market capitalization exceeding $8 billion. The effect of the Coinbase listing on PEPE's future price remains unclear, but it is expected to increase the cryptocurrency's visibility and draw more attention from investors. At the moment of writing, PEPE is changing hands at $0.00002182, up 14.23% over the past 24 hours, per CoinMarketCap.
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