Analysis Crypto by Thebittimes.Com

Shiba Inu was launched in August 2020 at a modest price of $0.000000000972241 (nine ‘zeroes’). The token slumped the same year adding an extra ‘zero’ in the indices and traded with 10 decimals by December 2020. However, the first half of 2021 was a game changer for SHIB as the token entered a ‘zero’ deleting spree . Early investors reaped heaps of profits as Shiba Inu skyrocketed in price by jumping more than 23,102,549% (23 million). The token delivered unbelievable gains as early investors made millions in a short time. SHIB entered the mainstream news cycles in May 2021 and attracted an unending sea of fan following. It’s been nearly 18 months now and Shiba Inu has steadily remained the talk of the town in the crypto sphere. Also Read: Shiba Inu: November 2022 Price Prediction Here’s How Many ‘Zeroes’ Shiba Inu Knocked Out From November 2021 to 2022 Source: Wallpaperflare.com Shiba Inu entered November 2021 af...

With Halloween 2022 almost coming to end, Elon Musk—the current sole director of social media giant Twitter—tweeted a picture of a Shiba Inu dog and a pumpkin. Both the focal subjects in the frame had one thing in common—the Twitter logo. The former wore apparel featuring the blue ‘freed’ bird, while the latter depicted a luminescent version of the same. 😉 pic.twitter.com/eaIYaDRBnu — Elon Musk (@elonmusk) November 1, 2022 It is a known fact that Elon Musk is fond of cryptos like Dogecoin and Shiba Inu. In fact, he has already given himself the title of “DogeFather” in the past. As expected, the prices of tokens belonging to the meme basket started rallying right after the tweet was posted. Dogecoin’s reaction was outright. As illustrated below, the trend was quite monotonous on the minute chart. However, the same minute the tweet was out, DOGE registered an unconventionally long green candle. It continued risi...

The summer 2022 crypto market crash was one the worst in the history of the industry. The markets lost over a trillion US Dollars in market capitalization . According to Finbold, in just the first three quarters of 2022, the number of Bitcoin (BTC) millionaires fell by 70.23%. The data showed that the number of BTC addresses with over $1 million in holdings reached a low of 29,497 as of September 28, 2022. According to data from BitInfoCharts.com, at the end of Q3 2022, 25,395 unique addresses had over $1 million worth of BTC. Meanwhile 4,102 additional addresses had a combined balance of at least $10 million. To put into perspective, at the beginning of Q1 2022, 99,092 Bitcoin (BTC) addresses held $1 million or more. On October 28, 2021, 116,139 Bitcoin addresses were verified as millionaires. Bitcoin rich list hit the hardest? After hitting an all-time high in November 2021, the value of Bitcoin (BTC) has been steadily decreasing. And with the value, so has ...

Ethereum rallied in the indices this week and jumped from the $1,200 level to $1,570 in less than four days. ETH attracted heavy bullish sentiments for the first time in 40 days after the successful transition from proof-of-work to proof-of-stake in September. The second largest crypto is up nearly 20% this week generating decent returns for investors. Now that Ethereum has a foothold on the $1.5K level, the crypto is aiming to reach its next leg of $1,800. Also Read: Here’s the Top 3 Most Profitable Cryptos of October 2022 Will Ethereum Reach $1,800 This Week? Source: Shutterstock The crypto markets stayed in the green for four consecutive days this week but are backtracking in price on Friday. The markets have a history of heading south during the weekends and attracting glimpses of green on the weekdays. Bitcoin is in the red today and the top 10 cryptos are also slipping in the indices. Ethereum is down nearly 3.6% but is holding on firmly to the $1,500 level. If th...

Source: Unsplash The stablecoin issuer Tether has finally eliminated its exposure to commercial papers, replacing them with much more liquid and secure US Treasury Bills. According to an announcement from Tether, the move to eliminate its commercial paper holdings and replace it with US Treasuries is part of a push to increase transparency and confidence among users of the popular USDT stablecoin. “Reducing commercial papers to zero demonstrates Tether’s commitment to backing its tokens with the most secure reserves in the market. This is a step towards even greater transparency and trust, not only for Tether but for the entire stablecoin industry,” Tether said in the announcement. Source: Tether.to Members of the crypto community welcomed the news from Tether on Thursday, with for instance VanEck strategy advisor Gabor Gurbacs writing on Twitter that USDT’s backing “looks less risky to me than most bank balance sheets.” Tether...

Chainlink has been hovering around the $7 mark since September 2022 and the digital asset has not climbed above its resistance level of $8. LINK was at $9 in June this year but consistent corrections had led to a reduced value at press time. The crypto has been trading sideways in October with little to no spike in price this month. However, crypto analyst Altcoin Sherpa believed that Chainlink could jump up in price and reach its monthly high. The analyst predicted that Chainlink is in the “accumulation range” currently and is gearing up for a short-term rally. LINK could catapult to new monthly highs once the accumulation range is completed, he predicted. Also Read: Cardano: Should You Invest In ADA in October 2022? “LINK: Although I still see this as a stablecoin for now. I think it looks pretty reasonable on high time frame charts as an investment/longer-term trade. I think it’s in an accumulation range and we’ll eventually see this do reall...

Shiba Inu’s ShibaSwap team has published a blog announcing that the team will take over the Shib burn portal from Ryoshi Vision. According to the announcement, the lack of communication from the Ryoshi Vision team drove the decision for ShibaSwap to take control of the portal. Although the Shibburn portal has been instrumental in reducing SHIB’s circulating supply, there have been issues with missing rewards. The ShibaSwap and Ryoshi Vision team had a meeting to discuss how to fix the issue of pending rewards. Nonetheless, the announcement alleges that when the ShibaSwap team attempted to get in touch with Ryoshi Vision again, there was “complete silence.” One developer promised to work on things, but to no avail. The said developer never got back in touch with the ShibaSwap team. The Ryoshi Vision internal moderation team contacted the ShibaSwap team announcing the creation of a new team, to make up for the actions of the now-absent development unit. Ryo...

The crypto market is barely swinging upward in October 2022 and Bitcoin, Ethereum and the rest of the cryptos are in the red. October was usually named ‘Uptober’ as BTC and ETH usually rallied this month generating good returns for investors. However, ‘Uptober’ is non-existent in 2022 as leading cryptos are moving backward than forward. The markets are spiraling down for 10 months straight and the majority of investors are currently underwater. Also Read: 3 Cryptos Showing Signs of Accumulation In October 2022 Is October 2022 The Right Time To Invest In Bitcoin & Cryptos? Source: Wallpaperflare.com Bitcoin is hovering around the $19,100 mark on Wednesday and briefly slipped toward $18,900 in the day’s trade. Ethereum is also at the $1,200 level and both the leading cryptos are being rejected at $21,000 and $1,400 respectively. The markets are showing no signs of a short-term bull run as the bears are comfortably in control. The altcoin and...