Top Three News Stories of the Day

Shiba Inu (SHIB) Exemplifies Elliott Wave Pattern

Shiba Inu (SHIB) exhibits a classic Elliott Wave pattern, indicating a structured path for its price movements. As per Elliott Wave Theory, markets typically demonstrate a five-wave pattern during major trends, with two waves (2 and 4) opposing the primary trend and three (1, 3, and 5) aligning with it.

Currently, SHIB appears to be undergoing the second wave of a corrective phase following an initial rally. A compelling third wave surge is anticipated, suggesting significant potential for upward growth. SHIB must maintain support at $0.000020 to bolster the foundation for this anticipated third wave, potentially propelling its price to resistance levels between $0.000035 and $0.000040.

While Elliott Wave Theory has been applied successfully across various markets, SHIB's future trajectory remains uncertain. Factors such as investor sentiment, market news, and trading volume will shape its path.

Renowned Crypto Trader Predicts Contradictory XRP Outlook

Popular crypto trader "DonAlt" recently shared his controversial views on XRP, which has experienced a notable 14% price hike this week and a 47% gain over the past week, reaching its highest value since July 2023.

Despite the apparent bullishness, DonAlt suggests a more nuanced outlook. He believes XRP and other established cryptos may face challenges in sustaining investor interest, with traders potentially favoring newer, trendier assets.

Nonetheless, DonAlt expresses optimism about a potential price surge for XRP, hinting at a "gut feeling" of a significant upward move. However, he questions the asset's ability to captivate and retain the attention of new retail investors.

Coinbase Adds PEPE Meme Coin to Its Platform

On , Coinbase, one of the leading U.S. cryptocurrency exchanges, listed Pepe Coin (PEPE) as announced by Coinbase's Chief Legal Officer, Paul Grewal. "You've wanted the frog for a long time. Well, you're about to get the frog," Grewal said.

Notably, this announcement coincided with news of PEPE's listing on Robinhood, another prominent U.S. brokerage platform, intensifying the competitive landscape for digital asset listings.

Following these developments, PEPE's price skyrocketed by an impressive 47.8% within an hour, reaching over $0.000019 with a market capitalization exceeding $8 billion. The long-term impact of Coinbase's listing on PEPE's price remains uncertain, but it is expected to enhance the cryptocurrency's visibility and attract investor attention.