SHIB burn spiked 284.3% on Wednesday. Shiba Inu removed 12,546,958 SHIB from circulation. SHIB price has surged over 4% within the last 48 hours. The Shiba Inu community has kept up its effort towards establishing price stability for the dog-themed cryptocurrency SHIB by burning a fresh batch of tokens. Shiba Inu’s latest token burn was significant, showing a 284.3% increase in the token removal mechanism within 24 hours. According to reports, the Shiba Inu community permanently removed 12,546,958 SHIB from circulation. The move sparked optimism among SHIB users and was reflected in the memecoin’s price. SHIB closed Wednesday’s trading session with a 2% profit margin, marking the first time the cryptocurrency ended the session in profit for over one week. Beyond Wednesday’s delivery, the memecoin continued with the bullish momentum on Thursday and aims to retest Wednesday’s high. It’s important to understand that Wednesday’s SHIB burn is a routine operation by the Shiba Inu community. The operation aims to reduce the circulating supply and create scarcity. The community hopes this will drive SHIB’s value higher, leading to price increases. … The post Shiba Inu Hints at Price Reversal After a 284% Spike in SHIB Burns appeared first on Coin Edition .

2025-01-30 23:00

January saw $400 million in swap trading volume on the XRP Ledger Since last year’s launch, DEX has processed over $1 billion in cryptocurrency swaps An amendment to the XRP Ledger, identified as XLS-73d, is set to go live on January 30 For January, Ripple’s XRP Ledger decentralized exchange (DEX) has seen substantial growth, recording approximately $400 million in swap volumes. The news was shared by Ripple’s CEO Brad Garlinghouse during the XRP Community Day. This equates to an average daily transaction volume of over $17 million. Since its launch in 2024, the DEX has processed over $1 billion in cryptocurrency swaps. Ripple had a great last year, and one of the main contributors to the successful past 12 months is the rapid growth of the XRP Ledger DEX. The CEO also noted the promising start of Ripple’s US dollar-pegged stablecoin, RLUSD, and several filings for proposed XRP exchange-traded funds (ETFs). Furthermore, he stated that JPMorgan Chase & Co. projects potential XRP inflows exceeding $8 billion for an XRP ETF, such as those proposed by Bitwise and WisdomTree. Related: XRP Ledger To Vote on Key Amendment: Could RLUSD AMM Pool Boost XRP… The post XRP Ledger DEX Volume Hits $400M in January, Ripple CEO Bullish on Growth appeared first on Coin Edition .

2025-01-30 21:50

Ethereum’s price trend seems to maintain an eight-year-old pattern. February has been predominantly a bullish month for Ethereum since it launched. Analysts think the bullish February pattern will continue for Ethereum. Ethereum, the second-largest cryptocurrency by market capitalization, is on track to maintain a consistent pattern from its historical trends. Since its launch in 2017, Ethereum’s price has ended all but one of the following Februarys with a positive return. This trend is so pronounced that many crypto analysts view February as a bullish month for Ethereum and use it to predict altcoin market behavior for that time of the year. Ethereum’s February Performance Except for February 2018, when Ethereum’s price dropped 24% within the month, the remaining seven Februarys have seen the altcoin close with positive returns. 2017 marked Ethereum’s most profitable February after the cryptocurrency gained 48.09%. The next most profitable February was in 2024 after the crypto market started a bull run following the SEC’s approval of a Bitcoin ETF. This price surge saw Ethereum gain 46.28% during the period, reinforcing the flagship altcoin’s Februa… The post Ethereum’s Bullish February Narrative: Will Continue Forward or Change? appeared first on Coin Edition .

2025-01-30 21:00

$W consolidates at $0.19, eyeing a breakout toward $0.58. $OMNI gains momentum ahead of April token unlock. $OP maintains stability, signaling a potential rally to $3.72. Crypto markets are showing signs of an exciting phase, with $W, $OMNI, and $OP showing promising signals for a rally. Traders and analysts are closely watching these assets as market conditions shift. This bullish divergence on $W , $OMNI and $OP still implies that we'll have a lot of upside to come. Crucial weeks! pic.twitter.com/e3EKuVhh2W — Michaël van de Poppe (@CryptoMichNL) January 29, 2025 Wormhole, a leading interoperability platform, is leading the charge. Its native token $W has been trading near $0.19 for a while, hinting at a potential breakout toward $0.58. Rising trading volumes suggest growing market confidence, making it a strong candidate for significant upward movement. Institutional Integration Boosts $W Demand Observers recommend watching Bitcoin’s dominance to gauge its momentum and identify the optimal entry points as the price progresses. Adding to $W’s outlook, BlackRock, Hamilton Lane, KKR, and other financial giants have integrated Wormhole vi… The post Crucial Weeks Ahead for $W, $OMNI & $OP: Breakouts Imminent? appeared first on Coin Edition .

2025-01-30 20:15

A wallet Ripple co-founder Chris Larsen activated transferred over $109 million in XRP this month. Pump.fun moved another 98,000 SOL to Kraken, totaling 880,877 SOL transferred in January. These large transfers come amid market volatility. A wallet activated by Ripple co-founder Chris Larsen has transferred over $109 million worth of XRP to major cryptocurrency exchanges, including Coinbase, Bitstamp, and Bybit. On-chain investigator ZachXBT flagged the transactions, noting that the funds originated from the XRP wallet address “rhREXVH…Etjna.” While there is no statement from Ripple or Larsen regarding the transfers, large movements of XRP by wallets linked to Ripple’s founders have attracted market attention. Some suggest such transfers could be for liquidity management, while others speculate on potential sell-offs. Pump.fun’s Large SOL Transfers Continue: 880K to Kraken Meanwhile, Solana-based meme coin platform Pump.fun has continued offloading SOL tokens. Today January 30, another 98,000 SOL was transferred to Kraken, bringing the total amount moved this month to 880,877 SOL. At Solana’s price of $241 per token, the total offloaded figure is wo… The post Ripple Founder Liquidates $109M in XRP, While Solana Pump.fun Dumps $212M in SOL appeared first on Coin Edition .

2025-01-30 19:29

El Salvador makes Bitcoin adoption voluntary after IMF pressure on private sector use. Local Bitcoin usage remains low, with only 7.5% of the population using it for transactions. El Salvador continues to buy Bitcoin, holding over 6,000 BTC worth $636 million. El Salvador has amended its Bitcoin law to make cryptocurrency adoption optional, bowing to pressure from the International Monetary Fund (IMF). The country’s Congress passed the new law on Wednesday, following a request from President Nayib Bukele. El Salvador passed a law in 2021 recognizing Bitcoin as legal tender alongside the U.S. dollar , a move that Bukele issued into law and described as a move toward financial inclusion and economic growth. However, the expected boom in Bitcoin adoption never materialized. Local adoption, however, remains dismal, with only 7.5% of the local population using the asset daily, according to a report by Reuters. A government-run Chivo wallet that was supposed to be the primary mechanism for handling Bitcoin transactions overwhelmed the market. However, the IMF, which agreed to lend El Salvador $1.4 billion in December 2024, recommended that Bitcoin be volun… The post El Salvador’s Bitcoin Law Amended: It’s No Longer a Must-Use appeared first on Coin Edition .

2025-01-30 18:45

Dogecoin’s future depends on breaking resistance at $0.3350 for further gains. Shiba Inu’s recovery hinges on holding support at $0.00001840 or higher. Pepe and Bonk show bullish potential, but critical support levels remain key. Memecoins, which were once popular among investors, have taken a hit lately, with some coins plummeting as much as 75% in value. This price slump has notably affected major assets like Dogecoin ($DOGE), Shiba Inu ($SHIB), and others, casting a shadow on their future. Dogecoin’s Price Trend and Market Outlook Dogecoin ($DOGE) has shown some resilience, trading at $0.3321 , up by 1.39% over the past 24 hours. The coin’s price action demonstrates strong market activity, marked by frequent dips and recoveries. However, the price is fighting to maintain upward momentum amidst market volatility. The immediate resistance for DOGE stands at $0.3350, where selling pressure has been noticeable during recent upswings. If it breaks through this resistance, DOGE might test the next level at $0.3400. Source: CoinMarketCap On the downside, the current support level at $0.3270 has offered some stability, although a drop below this … The post Meme Coins Crash: Index Sinks 75%—What’s Next for $DOGE, $SHIB & More? appeared first on Coin Edition .

2025-01-30 18:00

February has been one of the best months for Bitcoin in terms of returns. Bitcoin’s price has been moving within a key range in the last few days. The positive seasonality of February, combined with favorable price patterns could be beneficial for the market. As we start February, Bitcoin’s price has been active, recently rising from around $100k to $105k. This comes after Federal Reserve Chair Jerome Powell confirmed that U.S. banks can offer services to cryptocurrency customers. This news has caused a lot of excitement, especially in the Bitcoin market. With February here, a month often known for strong Bitcoin performance, Powell’s statement could be a positive boost for the market. Right now, Bitcoin is facing key price levels: the $106k mark is an important resistance level, while the $101k-102k price range is a key support. If Bitcoin can stay above these levels, there’s a good chance it could keep moving up through the month. Typically, February brings solid returns , with Bitcoin averaging 15.66% gains in this month, and even higher returns in some years like 2017 and 2021. As analyzed by an expert, Bitcoin tends to experience its monthly lo… The post Bitcoin Eyes February Gains: Powell Comments a Plus? appeared first on Coin Edition .

2025-01-30 17:15

Bitcoin has confirmed a breakout from a large cup and handle pattern. The measured move target for the breakout is $125,000. After a brief consolidation, analysts expect another upward move. Bitcoin (BTC) has broken out of a long-term cup and handle formation, a technical pattern that suggests a strong bullish continuation. According to crypto analyst Mags on X, the measured target for this breakout stands at $125,000. The price pattern, which began forming in 2021, saw BTC recover from a deep correction, forming a rounded bottom before recently breaking through resistance. Mags suggested this classic technical setup historically indicates further upside as buyers regain control after a period of accumulation. The breakout occurred as BTC surged past its previous resistance level of around $70,000, confirming the pattern’s validity. Following the breakout, a brief period of consolidation has kept prices around the $100,000 mark. Now, analysts like Mags project a continuation to the lofty $125K price point. Bitcoin Jumps to $105,000 as Fed News Calms Markets As of this press time, Bitcoin surged to $105,066 following the Federal Reserve’s decis… The post Bitcoin Breaks Out of Long-Term Cup and Handle Formation, Targeting $125,000 appeared first on Coin Edition .

2025-01-30 16:26