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Blockchain News

Crypto Market Update: SHIB, PEPE, and Litecoin

SHIB (Shiba Inu):

  • Shiba Inu is perilously close to a major resistance level of $0.00000804. This point has historically served as both support and resistance.
  • Breaking this level with significant volume might trigger a bullish wave, driving more buying. If SHIB does this, attention will be drawn to recent high peaks.
  • If this level is rejected, SHIB may fall to new lows, indicating bearish momentum.
  • Without a definite move, SHIB may consolidate around this price point, leaving the market in suspense.

PEPE:

 

  • PEPE is now dealing with market trust concerns. A massive 16 trillion token shift from the multisig address, combined with a probable sell-off on a controlled exchange, has sent the token price down to $0.000000874, a 7% drop.
  • This action, and the subsequent market reaction, have raised concerns about PEPE’s near-term direction.

LTC (Litecoin):

  • Litecoin, frequently referred to as the silver to Bitcoin’s gold, has recently been on a rollercoaster ride.
  • It began on July 17 at $92.78, to a monthly high of $94.57 on July 30, then fell to a depressing $74.30 on Aug. 16.
  • Litecoin’s halving events, in which mining rewards are halved, have historically acted as a price increase. However, the fallout from the recent halving was less than ideal. While there was initial euphoria, it quickly faded as prices fell, presumably indicating waning interest in LTC.

The sharp decrease on Aug. 16, along with Litecoin’s inability to maintain post-halving highs, portrays a bleak picture for the cryptocurrency. There are concerns about its future recovery.

To summarize, the Bitcoin market is as volatile as ever. While certain coins, such as SHIB, are on the verge of a breakthrough, others, such as PEPE, are facing credibility issues. Veteran coins, such as Litecoin, are battling to retain their history, raising concerns about their long-term survival. As always, investors and traders are recommended to do their homework and proceed with caution.

 

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.