The post What’s Next? Bitcoin (BTC) Delivers Hidden Signal, Toncoin (TON) Next to Skyrocket? appeared on BitcoinEthereumNews.com.

Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Investor optimism was sparked by Shiba Inu’s recent successful breakout from its consolidation phase. Despite this, there has not been a noticeable acceleration in price movement, suggesting that the rally has stalled. Examining market dynamics and on-chain data helps identify possible causes for this slowdown.  A crucial measure of Shiba Inu market activity is the quantity of significant transactions and the general activity of the network. Transaction volume has decreased recently when compared to previous peaks. Although the number of large transactions has increased, it is still far below the levels observed during its major bull runs, indicating that whales are not as active in driving up prices. SHIB/USDT Chart by TradingView Additionally, there is conflicting sentiment in the profitability data for SHIB holders. Although the majority of addresses holding SHIB are in the money, it is possible that the remaining sizable group of holders at higher price points are selling their holdings during this rally, which would increase market pressure to sell. The general state of the market may also be to blame for Shiba Inu’s poor performance. Bitcoin, Ethereum and XRP are among the assets that have been making headlines and drawing interest from investors. Altcoins like SHIB have less opportunity to shine because of the significant inflows and market interest currently seen in these…

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Filed under: News - @ November 26, 2024 3:27 am