Sushiswap price under siege of bearish coup with 20% implosion at risk
Sushiswap (SUSHI) price is seeing traders run for the hills on Friday as Bitcoin is sliding further away sub-$30,000 as the recovery rally is losing steam. To make matters worse, this altcoin season looks to be one of the worst seasons in terms of performance. With several crucial elements being broken by forceful bears, at least another 20% pain is in the cards.
Sushiswap price has been tanking sharply since this week started with already a 15% loss from Wednesday. The domino effect could be one of the main reasons why these sharp and heavy headwinds are suddenly emerging for altcoins. With a very mixed earnings season in US equities, indices have been selling off, triggering some US Dollar strength and, in its turn, pushing gold and Bitcoin lower.
Shiba Inu suffers damage in the PEPE-Dogecoin battle; market cap slips below Litecoin
Shiba Inu, at one point, was considered the Dogecoin killer. Despite its relatively strong fundamentals, the cryptocurrency is being sidelined at the moment. This lack of interest is all thanks to the emergence of PEPE, which once again proves that meme coins can always be replaced at any time.
Shiba Inu and Dogecoin were all that meme coin enthusiasts would talk about, with a few mentions of other shitcoins every now and then. However, the market is filled with discussions of just PEPE and Dogecoin presently.
Axie Infinity price wavers as investors wait out the $175 million token unlock
Axie Infinity price (AXS) has wobbled ahead of the upcoming token unlock event scheduled for April 23, causing the token to drop by a significant margin while it gives traders a chance to buy the dip. Standing among the top players in the GameFi and non-fungible token (NFT) spaces, Axie Infinity allows platform users to play games and be rewarded for their achievements. Notably, player rewards come in the form of the Smooth Love Potion (SLP) token and sometimes even AXS tokens.
The Axie Infinity token unlock event scheduled for April 23 is among the top news in the crypto scene this week and next week, with data showing that the network’s developers will unleash more than 18 million AXS tokens. Based on current rates, this translates to at least $175 million. This represents about 7% of its total market capitalization, based on CoinMarketCap data.
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. 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.
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.
Recommended Content
Editors’ Picks
US presidential election outcome could shape the future of crypto
US citizens will go to the polls to elect a new president on November 5, and their choice could be key for the future of the crypto industry and thus the price outlook for Bitcoin (BTC).
Bitcoin ETFs beat Gold ETFs with 65% gain since launch
Bitcoin ETFs have reshaped the digital asset investment landscape since their approval in January. Their total assets under management climbed over $70 billion during the weekend, placing them ahead of other investment products, including gold.
XRP eyes 10% rally amid relisting across crypto exchanges and growing institutional demand
Ripple's XRP is trading at $0.5050 up slightly by 0.2% in the past 24 hours as it struggles to sustain a move above a key symmetry triangle resistance. Meanwhile, in its recently released Q3 report, Ripple noted the rising listing and relisting of XRP across crypto exchanges and global platforms.
Ethereum Price Forecast: ETH struggles below $2,500 amid State of Michigan pension fund investment in ETH ETF
Ethereum is trading near $2,420, down about 1% on Monday, but could bounce off a key descending trendline close to the $2,258 historically high demand zone. Meanwhile, the State of Michigan pension fund revealed an investment of $11 million in ETH exchange-traded funds.
Bitcoin: New all-time high at $78,900 looks feasible
Bitcoin price declines over 2% this week, but the bounce from a key technical level on the weekly chart signals chances of hitting a new all-time high in the short term. US spot Bitcoin ETFs posted $596 million in inflows until Thursday despite the increased profit-taking activity.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.