Here is a condensed summary of the main points from the text:
Shiba Inu has experienced a mini short squeeze, with a 7% price increase over the past hour. This move happened while the overall crypto market was flat. Analysis shows shorts were getting liquidated, contributing to the price surge.
The narrator points out that while 7% seems small compared to previous 30-50% daily swings for Shiba Inu, it's significant given the market didn't move with it this time. Additionally, Shiba Inu had the highest amount of liquidations in the last hour according to data, showing the power of the short squeeze.
The narrator believes meme coins like Shiba Inu have greater upside potential this market cycle than larger market cap layer 1 blockchain projects. This is because new layer 1s are launching with huge market caps already, limiting their growth potential.
If Shiba Inu can break key resistance levels at $0.000027 and $0.000036, it could spark further upside. The narrator is watching to see if the meme coin can close above levels it hasn't touched since early 2021.
Here is a condensed summary of the main points from the text:
Shiba Inu price is down 4.79% on the day to $0.42624 after a 10-11% drop, but has bounced off support at $0.02560 and risen since then. The broader crypto market sold off but Bitcoin was relatively flat. Some major gainers like Pepe, Bon, and Floky pulled back alongside Shiba Inu.
This consolidation and reaccumulation phase will likely continue to see ups and downs day-to-day as day traders take profits. Bybit offers up to 100x leverage trading with no KYC for those interested.
In major news, both President Biden and former President Trump's campaigns are embracing crypto, marking the first "Bitcoin election." This brings positive attention to the industry from both sides of the political aisle.
Gemini exchange returned $2.2 billion to users after an 18-month withdrawal freeze. As we enter a likely parabolic bull market, exchanges going bust could recur like previous cycles, but hopefully there is better regulation to prevent loss of funds.
Be very careful of celebrity token projects, which have a history of turning out to be rug pulls despite the hype. Only invest what you can afford to lose.
Shiba Inu coin is currently priced at $0.0004277, up 3.66% on the day. The narrator notes there was some volatility in the crypto market over the past 24 hours. Shiba Inu briefly reached a new high in the morning before falling back down. The narrator warns that 99% of day traders are unsuccessful long-term.
The narrator calculates there are still 92.24 quadrillion Shiba Inu tokens held by investors who bought between $0.00003 and $0.000036. This represents about 1/6 of the total supply. The narrator speculates that if the price reaches this level again, those holders may buy more coins, further driving up demand.
The narrator shares an SEC statement warning investors about cryptocurrency pump and dump schemes, especially around "meme coins." The SEC states promoters may hype up coins on social media to bump up prices before dumping their holdings. The narrator notes an influx of influencers promoting obscure coins for payment and warns viewers to be cautious of recommendations tied to financial incentives.
Here is a condensed summary of the main points from the text:
Shiba Inu coin is up 3.7% after a recent 34% dip. It is showing signs of strength compared to other major cryptocurrencies like Bitcoin which are struggling to recover recent losses.
Brett coin has seen massive growth recently, jumping into the top 100 cryptocurrencies by market cap after influencer promotion.
Bitcoin is still struggling to break past $71,500 resistance. Historical data suggests the major breakout and parabolic growth phase is still a few weeks away.
BlackRock's funds have disclosed billions in exposure to Bitcoin ETFs, showing confidence in crypto. They aim to surpass Grayscale as the largest holder.
Mastercard launched a new crypto service allowing users to send and receive crypto using a username instead of a complex wallet address. This makes crypto easier for mainstream adoption and could enable widespread use as an everyday currency rather than just an investment.
The narrator believes crypto may become commonly used as a currency for gifts or small payments within the next 5-10 years as prices stabilize, but widespread spending of large sums may take 15-20 years due to fears of missing out on future growth.
The narrator discusses recent developments related to Shiba Inu and the crypto market. Key points:
Shiba Inu price is up 3% and reached a resistance level before pulling back. There are indications it may break out above the $0.00003 level soon.
BlackRock's Bitcoin ETF has surpassed Grayscale Bitcoin Trust to become the world's largest.
The SEC was fined $1.8 million for overreach against a crypto company.
Donald Trump's crypto holdings top $10 million, mainly in TrumpCoin.
The narrator speculates lower market cap "meme coins" could rally strongly in the next crypto bull market.