fxs_header_sponsor_anchor

Cryptocurrencies Price Prediction: Shiba, Bitcoin & Binance – European Wrap 12 April

Shiba Inu might escape Dogecoin’s shadow as it makes efforts to become a real crypto ecosystem

Shiba Inu falling under the category of a “meme coin” certainly began as a mere joke, but the decision to develop it into an ecosystem is giving it an edge over other meme coins. While others continue to see influence from Dogecoin, Shiba Inu seems to be separating itself from that narrative.

Shiba Inu has been deemed the Dogecoin killer, and in some ways, its emergence has given DOGE quite the competition. Over the last year, on multiple occasions, the hype surrounding the Decentralized Finance (DeFi) capabilities of Shiba Inu and its entry into the Metaverse resulted in the SHIB flipping DOGE in terms of market capitalization.

Bitcoin price rally likely to continue with open-interest hitting five-month peak

Bitcoin open interest across derivatives exchanges climbed above the $9.7 billion level based on data from crypto intelligence firm Coinalyze. Rising open interest coupled with the recent rally in the asset’s price indicates that the asset’s gains are likely sustainable.

Open Interest in Bitcoin hit a five-month peak, moving past $9.7 billion for the first time since the FTX exchange collapse. On derivatives exchanges, Open Interest is the total number of outstanding derivatives contracts, options or futures that have not been settled yet. Analysts keep track of all open positions in an asset through this metric.

Binance Coin Price Forecast: BNB could rally 30% if this level holds

Binance Coin price is attempting to explore a high-timeframe range as it nears the extremes of a smaller zone inside. Sidelined buyers can take advantage of this opportunity to accumulate before BNB kick-starts its next move.

Binance Coin price has been hovering inside the $218.8 to $338.8 range for nearly a year after suffering a 67% crash in November 2021 and May 2022. As BNB approaches the upper limit of a smaller range, investors need to explore a breakout scenario.

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. 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.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.