As a seasoned crypto analyst with over a decade of experience navigating the volatile world of digital assets, I find myself intrigued by the recent developments in the market. Shibarium’s increasing activity and the potential bull run for XRP are two trends that have caught my eye lately.
TL;DR
- Shibarium, Shiba Inu’s layer-2 solution, shows increased activity, approaching a 90-day peak in deployed contracts.
Analysts predict a possible bull run for XRP, driven by tightening Bollinger Bands and historical patterns.
Ethereum (ETH) sees increased wallet creation, suggesting rising network utility and potential for further price gains.
What’s New Around SHIB?
The scaling solution for Shiba Inu within the cryptocurrency sector continues to create ripples. Recently, LUCIE – an influential figure within the SHIB community – announced that the protocol had reached a three-month peak in contract deployments, indicating robust development activity.
On a day-to-day basis, Shibarium saw a significant surge of 91%, raising the number of daily transactions it handled from 2,840 (on September 10) to 5,430 the next day.
As an analyst, I’m excited to share that the network we launched last summer is tailored to nurture the Shiba Inu ecosystem. Our goal is to elevate user experience, boost scalability, minimize transaction costs, and empower developers to construct decentralized applications. Keep an eye on our Shibarium news for the latest updates within this thriving community.
Some believe that SHIB‘s future advancements could potentially boost its price. At the moment, this meme coin is trading at approximately $0.00001339 according to CoinGecko’s data, but it has been struggling over the past two weeks, continuing to trade in the negative. In the last 24 hours, however, SHIB has experienced a 1.6% increase.
XRP Bull Run Incoming?
Over the last fortnight, the value of Ripple’s original currency has dropped significantly, yet certain experts predict it could surge to unprecedented highs in the near future.
As a crypto investor, I’ve been thinking that XRP might recreate the surge it experienced during late 2017 and early 2018. In that period, its value skyrocketed by an astounding 1,250%, peaking at $3.40. If such a growth spurt were to happen today, we’re looking at a potential new high of around $7.20 for the asset.
The XRPA community, keep strong! The approaching exhilarating period is referred to as the XRP GIANT BOOST. Prepare yourselves, the trader advised.
Other market players anticipated promising times due to the tightening Bollinger Bands, with The Great Mattsby even predicting that this trend might trigger a massive bullish rally for XRP.
The Bollinger Bands is a technical tool used by traders to determine if an asset might be overbought or oversold, thereby identifying possible reversal points. When the bands become tighter, it usually signifies a prolonged period of low price volatility that could potentially lead to a significant rally (or correction). Over time, this pattern has often resulted in an upward price movement.
How’s ETH Doing?
As an analyst, I’ve noticed that the second-largest cryptocurrency by market capitalization has been drawing attention recently. Over the past week, it experienced significant price fluctuations, dipping below $2,200 and subsequently rising above $2,400, only to settle at its current value of $2,360.
The value could potentially increase significantly due to one significant factor. As revealed by the crypto analytics platform Santiment, an unusually high number of 126,200 Ethereum wallets were created on September 8, a figure last seen at such a level four months ago. This development, according to the entity, suggests increased network usage and might precede price surges exceeding the $2,000-$2,300 range.
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2024-09-12 11:30