American Wrap 02 July

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Burden of proof still rests on the BTC bulls
Resistance levels under the microscope this week as the cryptocurrency majors stumbled at established barriers.

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Bitcoin price retracted from crucial $35,500 level, Ethereum price stalled at the 50% Fibonacci retracement level at $2,237 and XRP price strength was paralyzed by the 200-day simple moving average (SMA) at $0.733.

The constructive technical developments of last week have not released the momentum to confidently bust through higher resistance levels, putting attempts to disentangle from the recent churn on hold.

VeChain price stuck in tight range, VET will go sideways for the rest of the summer
VeChain price has not been able to go higher after the recovery from $0.04 towards $0.16.

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VET corrected further down and is looking for support from buyers. The area around $0.1 is forming a heavy cap on the possible further upside for Vechain. VeChain price looks to be in a difficult spot with upside potential very limited, but even for sellers, it doesn’t look appealing to go short VET.

Shiba Inu Price Prediction: SHIB investors need their eyes on the prize as 30% rally awaits
Shiba Inu price activated the inverse head-and-shoulders pattern on June 28. Nonetheless,

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the breakout was short-lived, and SHIB has fallen into a consolidation, releasing the overbought conditions on the lower timeframes. If the rookie cryptocurrency can sustain a rally above the declining 50-day SMA, it could rally 33% before striking meaningful resistance.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.

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You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress.

All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

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If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Elon Musk Tweet Sends New Baby Doge Coin Soaring — Meme Token’s Daily Gains Jump 228%

While dogecoin and the ERC20 token shiba inu have surprised the masses with phenomenal gains this year, another dog token has entered the fray. A coin project called “Baby Doge” has risen 228.3% during the last 24 hours and even more so after Tesla’s CEO Elon Musk tweeted about the crypto asset.

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Another Canine Crypto Coin Sees Its Value Surge
Just when you thought there were plenty of dog meme tokens flooding the market, another canine coin has broken free from the kennel. A new token called baby doge (BABYDOGE) has been the talk of the crypto community the last few days, and Elon Musk decided to tweet about the token on Thursday. Musk’s tweet wasn’t very coherent and he simply said:

Baby Doge, doo, doo, doo, doo, doo, Baby Doge, doo, doo, doo, doo, doo, Baby Doge, doo, doo, doo, doo, doo, Baby Doge.

Of course, Musk’s tweet sent the baby doge token skyrocketing as the digital currency has risen 228.3% over the last 24 hours. Seven-day stats against the U.S. dollar show baby doge is up 53% this week, and across the last two weeks the coin has jumped 716.9%.

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Elon Musk Tweet Sends New Baby Doge Coin Soaring — Meme Token’s Daily Gains Jump 228%
Baby doge has a “woof paper,” an audit, and other documentation concerning this coin.
Information about baby doge can be found on the Binance Smart Chain (BSC) token tracker bscscan.com and the crypto asset has a website called babydogecoin.com.

“Baby Doge Coin has learned a few tricks and lessons from his meme father, Doge,” the web portal says. “A new crypto birthed by fans [and] members of the Dogecoin online community. Baby Doge seeks to impress his father by showing his new improved transaction speeds [and] adorableness,” the website adds. Furthermore, the website notes:

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[Baby doge] is Hyper-deflationary with an integrated smart staking system built in to reward you, so more baby doge coins are being automatically added to your wallet each transaction. Simply Love, pet, and watch your baby doge grow.

How Does Baby Doge Compare to the Dogefather and Sibling Shiba Inu?
The dog meme token may be somewhat deflationary by its design as holders of baby doge earn them simply by holding. “Watch the amount of baby doge grow in your wallet as all holders automatically receive a 5% fee from every transaction that happens on the Baby Doge network,” the web portal details.

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However, there is an abundant supply of baby doge as bscscan.com and other coin market cap aggregation sites show there are four hundred twenty quadrillion baby doge. That’s very different from the Bitcoin (BTC) network’s max supply of 21 million.

Elon Musk Tweet Sends New Baby Doge Coin Soaring — Meme Token’s Daily Gains Jump 228%
A chart created by the Baby Doge development team shows the differences between DOGE and SHIB.
The coin trades today for less than a U.S. penny at $0.000000001910 per baby doge. It touched an all-time high (ATH) recently, at $0.000000002014 and it’s only down 5% from the ATH. Similar to the shiba inu (SHIB) coin, it’s got a ways to go before it reaches a U.S. penny in value.

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SHIB, on the other hand, is much closer than baby doge, at $0.00000839 per SHIB token. The circulating supply of SHIB is a lot less too, with only four hundred ninety-seven trillion SHIB in circulation today.

The one thing baby doge (BABY DOGE) has that outshines its father dogecoin (DOGE) and its sibling shiba inu (SHIB) is lower transaction fees. SHIB, for example, is an ERC20 token and is forced to deal with fees associated with Ethereum, while dogecoin costs over 2 DOGE to send as the average transaction fee on Thursday is around $0.491 per transaction.

Transacting with BSC and baby doge gives users fees as low as 1 gwei (an Ethereum gas measurement), or around 0.000000001 BNB. There’s no fee data on the baby doge token, but a transaction should cost less than a U.S. penny.

Shiba Inu price might ride Bitcoin adoption wave and rally 45% soon

Shiba Inu price has shown a massive performance since June 8.
Although SHIB rides hype waves, it has reacted well to Bitcoin news and might continue to do so.

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A 45% upswing might follow a minor retracement toward critical support levels to $0.0000107.
Shiba Inu price saw a massive downtrend between May 24 and June 12, which shattered the May 19 and May 23 lows to set up new ones. Despite a vast drawdown, the recovery for SHIB has been quite spectacular.

More importantly, Shiba Inu price is reacting to significant developments in the cryptocurrency space as well as celebrity endorsements, which has boded well for the meme coin.

Bitcoin’s increasing influence on meme coin community
El Salvador accepting Bitcoin as legal tender was crucial to the cryptocurrency ecosystem, and BTC price reacted accordingly. Interestingly, this news led Shiba Inu price to form a bottom due to the announcement and also rallied 22% as a result.

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Soon thereafter, Coinbase announced that it would list Shiba Inu, which pushed the market value of the dog-themed crypto by a whopping 50% in less than 16 hours.

A similar uptrend was noticed after Elon Musk tweeted about Shiba Inu on June 25.

While these events have already occurred, payments giant NCR’s decision to offer bitcoin purchases to its 24 million customers is the next big wave of adoption, which might positively sway Shiba Inu price.

On June 30, Atlanta-based NCR made a deal with NYDIG, a digital asset management firm, to offer Bitcoin purchases to its customers spread across 650 banks in the US. This decision comes as NCR plans to ride the cryptocurrency hype wave, which is becoming apparent recently.

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NCR will skirt the complications of holding cryptocurrencies by leveraging NYDIG’s well-known digital asset custody services.

Regardless, this is a huge step forward for the adoption of Bitcoin and cryptocurrencies in general. Therefore, investors can expect a positive trend for BTC, Shiba Inu and other altcoins in the second half of this week.

Shiba Inu price might retrace before blasting off
Shiba Inu price is currently retracing after tagging the 62% Fibonacci retracement level at $0.00000954 for the fourth time over the past month.

The pullback is likely to continue until SHIB finds support at $0.00000811 or $0.00000739. At either of these two demand barriers, investors can expect the resurgence of buyers that might catapult Shiba Inu price forward.

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If this were to occur, SHIB is likely to slice through the 62% Fibonacci retracement level at $0.00000954, followed by a retest of the 70.5% Fibonacci retracement level at 0.0000104, a 45% upswing from the support level at $0.00000739.

In a highly bullish case, the meme coin can be expected to produce a decisive 4-hour candlestick close above the 79% Fibonacci retracement level at $0.0000122.

If the buying pressure continues after this development, Shiba Inu price might redefine the upper range.

SHIB/USDT 4-hour chart

SHIB/USDT 4-hour chart

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On the flip side, if SHIB fails to slice through $0.0000122 and stay above it, it will indicate that investors are more interested in short-term profits, which might result in a downswing to $0.0000101 or if the market participants continue to book profits, $0.00000954.

This move would not be a bearish indication but suggests that Shiba Inu price might take another jab at retesting the upper range.

However, if the meme coin breaks down the support barrier at $0.00000625, the chances of an upswing would be reduced dramatically. In such a case, Shiba Inu might drop to the range low at $0.00000517.

Shiba Inu Asian Wrap 1 July

XLM Price Prediction: Stellar might drop 15% as lackluster performance continues
XLM price has been on a massive downtrend since mid-May and shows that the buyers are nowhere to be found. As a result, Stellar has been trading near the lower range and attempts to revert to the mean has been foiled.

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XLM price slid below the May 23 swing low at $0.272 on June 21 to form a bottom at $0.198. Lack of buying pressure has led to a slow recovery of the remittance token. Although Stellar has sliced through the crucial barrier at $0.272, it is currently being retested.

XLM/USDT 4-hour chart

SafeMoon Price Forecast: SAFEMOON appears decisive, readies for a 20% rally
SafeMoon price has been engaged in a bottoming process that has twisted investors with various buy signals that eventually failed or never triggered. Currently, SAFEMOON appears to be framing a new bottoming pattern that could offer a timely opportunity to capture a 20% return.

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SafeMoon price rallied almost 80% from the June 22 low of $0.00000230, surpassing the 50 two-hour SMA and logging the first overbought condition on the two-hour RSI since early May, demonstrating an impulsive bid and decisiveness for the rookie cryptocurrency.

SAFEMOON/USD 2-hour chart

Shiba Inu Price Analysis: SHIB requires patience, but offers a compelling opportunity
Shiba Inu price has been engaged in a lengthy bottoming process that appears to be finally resolving to the upside after SHIB triggered the neckline of an inverse head-and-shoulders pattern on June 29. If the digital asset can overcome the declining 50-day SMA, it may rally 30% before identifying relevant resistance and interested sellers.

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Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.

You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature.

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Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

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FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Shiba Inu Price Analysis: SHIB requires patience, but offers a compelling opportunity

Shiba Inu price triggers inverse head-and-shoulders pattern on June 28, setting the stage for further gains.
50 twelve-hour simple moving average (SMA) has turned higher again, offering relevant support as the altcoin makes the turn.

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SHIB is at striking resistance of the now visible 50-day SMA at $0.00000939.
Shiba Inu price has been engaged in a lengthy bottoming process that appears to be finally resolving to the upside after SHIB triggered the neckline of an inverse head-and-shoulders pattern on June 29. If the digital asset can overcome the declining 50-day SMA, it may rally 30% before identifying relevant resistance and interested sellers.

Shiba Inu price enters July with a bounce in its step
SHIB investors have been patiently waiting for some clarity in the price structure since the rapid decline in May. Shiba Inu price hinted at a few turning points, but the weight of the cryptocurrency market volatility kept the meme token from defining a precise turning point. However, this changed on June 29 as SHIB triggered an inverse head-and-shoulders pattern’s neckline before falling back into the base.

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The 70% advance from the June 22 low did push the twelve-hour Relative Strength Index (RSI) near an overbought condition, so investors should not label the pullback into the base as a failure but a necessary pause in the evolution of the pattern. Nevertheless, it is essential to note that the 50-day SMA at $0.00000939 lingers just above the neckline, suggesting the pause may endure a few days.

The measured move target of the inverse head-and-shoulders pattern is 80%, projecting a Shiba Inu price of $0.00001680, which is just below the 38.2% Fibonacci retracement level of May’s crash at $0.00001754.

It is a bold forecast, but a more realistic target is the May 24 high of $0.00001204 or the May 20 high of $0.00001214, yielding a 30% gain for SHIB investors.

Interestingly, other cryptocurrencies like XRP and ZIL formed inverse head-and-shoulder patterns before delivering significant returns, albeit from a larger footprint on the charts.

SHIB/USD 12-hour chart

SHIB/USD 12-hour chart

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For now, Shiba Inu price action is constructive, but if the pause evolves into a deeper pullback, SHIB needs to hold the 50 twelve-hour SMA at $0.00000744 or risk revisiting the May 19 low or even a sweep of the right shoulder low of $0.00000560. Of course, this scenario gains precedence if the cryptocurrency complex reverts to heavy selling.

The SHIB 30-day MVRV ratio, currently at 13.75%, is indicating a mildly overvalued condition. More specifically, it reveals that the average gain of all addresses that have acquired SHIB in the past 30 days is 13.75%. It is a period that covers the majority of the bottoming process since the May crash.

Generally, the higher the MVRV ratio, the greater the unclaimed profits, thus the higher the risk that SHIB holders will begin to sell and lower their exposure. This is why it is believed that extremely high MVRV ratios indicate overvalued conditions and a reason to sell. In contrast, very low MVRV ratios indicate undervalued conditions and may offer a timely opportunity to accumulate.

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The SHIB 30-day MVRV ratio is now positive, but it does not confirm a large reservoir of selling pressure that could enter the market at current prices. However, investors may aim to capture profits around the $0.00001204-$0.00001214 range after the lengthy bottoming process.

The 30-day MVRV ratio would still be well below the April and May highs, but that price range would represent a gain of over 100% from the right shoulder low of $0.00000560, representing a notable overvalued condition and a reason to sell.

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SHIB 30-day MVRV ratio – Santiment

SHIB 30-day MVRV ratio – Santiment

Shiba Inu price is at an inflection point on a micro-scale as it navigates the neckline and the approaching 50-day SMA, but SHIB is far from an overvalued level that would spur heavy selling. For now, it is a technical story until buying pressure can unhook the resistance and release Shiba Inu price to better outcomes.

Shiba Inu will probably hit $0.000010 resistance

Shiba Inu (SHIB) is on the rise, and in recent times the cryptocurrency managed to get above the resistance at $0.000008. It continues to move higher while major other altcoins are tumbling in the crypto market.

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SHIB has gathered colossal attention and has emerged as one of the favoured choices of investors.

The Dogecoin Killer hit its all-time high in May and has plummeted and remained on almost the same level since then. This altcoin did well in May; investors believe it would be the next Doge.

Bitcoin is currently trying to settle above $35,000; its resistance level has already been tested multiple times in recent trading sessions and proved its strength.

Dogecoin also failed to settle below the $0.25 level, which is another bullish development for Shiba Inu.

The earlier resistance at $0.000008 will serve as the first support level for Shiba Inu on the support side. If SHIB declines below the said level, it will head towards $0.000007 -the next support which eventually will push Shiba Inu towards the support at $0.0000063.

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At 08:15 pm, Shiba Inu (SHIB) was trading at $0.000008321 USD with market cap of $3,320,765,155 and trading volume of $807,292,316 USD. SHIBA INU is up 8.72 per cent in the last 24 hours.

These three cryptos could soon recover and reach new all-time highs
From a technical perspective, Solana price has set up four higher highs and four higher lows since May 18. Connecting trend lines from these swing points shows that SOL is consolidating in a symmetrical triangle pattern.

SOL/USD 1-day chart

Shiba Inu price to retest crucial support before SHIB bulls set up next advanc
Shiba Inu price has recently broken out of a bearish formation, introducing the potential for a new rally. SHIB escaped above a critical resistance trend line that has acted as a possible turning point for the meme coin’s disappointing returns since the May crypto market crash.

SHIBA INU USDT

Chainlink adoption continues to scale as LINK price contemplates 51% upswing
Chainlink price is setting the stage for a massive bull rally that will shift the trend from bearish and choppy to bullish.

SHIB Price Prediction: Shiba Inu ready to pop to $0.00001 by the end of this week

Shiba Inu is set to jump higher in a technical push towards $0.00001. Thanks to Bitcoin, SHIB is in the slipstream of the positive news in the major cryptocurrencies. Overall risk-on sentiment in the markets, with specifically Nasdaq higher, helps to lift SHIB.

Shiba Inu is set for a run higher towards $0.0000093 as the first point of resistance in the rally. After that, the $0.00001 level is in sight.

Why MATIC could enter a new bear market

MATIC price had been a relative strength leader in the cryptocurrency complex. Still, lately, the failure to hold key technical levels has raised the probability of a weaker price in the medium term. The overhang of key points of resistance coupled with a bearish pattern suggests that Polygon investors will not be rewarded with better profit outcomes

Uniswap Price Analysis: UNI strengthens, but still not time to fasten the seatbelts
Uniswap price has climbed almost 40% from the June 22 low and seized the opportunity of an oversold reading on the twelve-hour

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Relative Strength Index (RSI) to slingshot above a longstanding trend line beginning on May 14. If UNI can close above the trend line on a daily basis, there is a potential for the altcoin to charge higher, but there is still more to prove.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.

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You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature.

Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

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If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.