Interesting Pi Network (PI) Facts, Bullish Shiba Inu (SHIB) Price Predictions, and More: Bits Recap Dec 13

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As a seasoned researcher with years of experience in the ever-evolving world of cryptocurrencies, I must say that the recent developments in these digital assets have been nothing short of fascinating.

TL;DR

  • Pi Network boasts 1.34 million users in South Korea, outpacing Binance locally, with its open mainnet launch expected once 15 million verifications are completed.
  • Shiba Inu shows bullish potential despite recent volatility, supported by an active burn mechanism and predictions of significant price spikes.
  • XRP’s price surged over 250% in the past month, with analysts forecasting a new all-time high driven by regulatory progress and market momentum.

Pi Network’s Stronghold in South Korea

Regardless of the ongoing debate, the cryptocurrency project Pi Network persists in gaining users. Just recently, the team announced that the app surpassed the significant mark of 100 million downloads.

Pi Network boasts a strong following in Asia, with millions of people joining from countries such as China, Vietnam, Singapore, India, Japan, and others. As CryptoPotato has shared, South Korea is also witnessing a surge in interest for this project.

As per Wu Blockchain’s examination, the user count for the Pi Network has surpassed 1.34 million, making it larger than the local client base of prominent crypto exchanges such as Binance and Coinbase. Notably, only two domestic cryptocurrency-related entities – Upbit (with 4.36 million users) and Bithumb (2.24 million users) – boast a higher number of users.

As the Pi Network community expands worldwide, anticipation builds for the launch of its native token and open mainnet. However, these elements are still pending, as the team has promised action once 15 million user verifications are completed. Recent figures indicate that 14 million users have already followed the rules, leaving just 1 million more to comply.

In the meantime, the Pi Core Team had earlier pledged to reveal their mainnet roadmap, offering a clearer timeline for when users can buy and sell Pi coins. It’s yet to be determined whether the last quarter of 2024 will see substantial progress or if there might be additional postponements.

SHIB’s Next Potential Targets

At the beginning of December, there was a significant resurgence in the second-largest meme coin. Lately, though, it has shown increased volatility, leading to a drop of more than 10% in its price over the past week.

Regardless of the current market turbulence, many experts are hopeful that a new rally might be approaching. For example, user JAVON MARKS asserts that SHIB has shown bullish indications, potentially hinting at “another significant price increase.” The trader continues to predict that the price could surge by nearly 180% and reach approximately $0.000081.

Market analysts such as Zach Humphries and The Crypto Bull anticipate promising times ahead for the meme coin. Specifically, Zach Humphries thinks SHIB could see significant increases if Ethereum experiences a breakthrough. Meanwhile, The Crypto Bull suggests that Shiba Inu’s chart indicates it is about to take off soon.

The increase in the asset’s self-destruct function aligns with the idea that its price could surge. In the last 24 hours, the burn rate has significantly increased by nearly 300%, causing over 11.8 million tokens to be sent to a non-existent address. While the value of these tokens in USD might seem minimal, ongoing efforts in this area could make SHIB harder to find, potentially increasing its worth if demand remains steady or rises over time.

XRP Price Outlook

Ripple‘s XRP is experiencing a decline on a weekly basis, but it’s important to note that its losses are smaller compared to Shiba Inu. Despite this, XRP has been one of the top performers over the past month, with its price soaring by more than 250% and currently trading at around $2.30.

One way to rephrase the given text in a more natural and easy-to-read manner could be:

As a crypto investor, I’ve been noticing some exciting developments in the XRP market recently. Analyst Ali Martinez has pointed out the formation of a bull flag pattern on the asset’s price chart, suggesting a potential new all-time high of $4. However, he cautions that the path to this peak might be turbulent, potentially involving a temporary correction along the way.

Prior to that, he claimed that XRP “looks undervalued after breaking out of this massive multi-year symmetrical triangle.” He set a “conservative target” of $8.40 and an “optimistic” one of a staggering $48.12. 

 

 

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2024-12-13 11:16