![How to Nail First-Party Data Strategy According to a Google Director of Product Management [+ New Data]](https://www.hubspot.com/hubfs/first-party-data-strategy.webp)
Why Shiba Inu Price Could Surge by 40% After Fed Rate Cut
The post Why Shiba Inu Price Could Surge by 40% After Fed Rate Cut appeared on BitcoinEthereumNews.com. Following a prolonged period of correction and consolidation, Shiba Inu (SHIB) may be set for a bullish breakout. This development comes after the Federal Reserve interest rate cut, which has driven crypto prices up. As the meme coin positions for an explosive move, this analysis explores the factors behind the revised prediction and what traders should watch out for. Shiba Inu Offers an Opportunity, Boosts Traders’ Confidence Two weeks ago, SHIB was trading at $0.000012, amid concerns of a potential capitulation. However, the price has since climbed to $0.000014, spurred by the Federal Open Market Committee’s (FOMC) decision to implement a 50 basis point interest rate cut. At the time when SHIB traded at $0.000012, its price-Daily Active Addresses (DAA) divergence showed a negative reading. This on-chain metric is vital for identifying potential entry and exit points in the market. A negative price-DAA divergence signals low user engagement on the blockchain, suggesting that a price rise may not be sustainable due to insufficient network activity to maintain the trend. However, as seen below, Shiba Inu’s price-DAA divergence has turned positive at 15.90%. This indicates that the recent uptrend is backed by rising network activity. Hence, SHIB still offers an opportunity to buy as the price could swing higher than its current level. Read more: Top 9 Safest Crypto Exchanges in 2024 Shiba Inu Price-DAA Divergence. Source: Santiment Speaking of SHIB’s future potential, data from Coinglass reveals a surge in derivatives volume. Previously, both the spot and derivatives markets showed low activity, reflecting limited interest in the token. As volume increased, there was a notable shift in the Funding Rate, which serves as an indicator of trader sentiment. A negative Funding Rate typically signals that most traders hold short positions. However, at press time, the rate has shifted to positive, suggesting that…
The post Why Shiba Inu Price Could Surge by 40% After Fed Rate Cut appeared on BitcoinEthereumNews.com.
Following a prolonged period of correction and consolidation, Shiba Inu (SHIB) may be set for a bullish breakout. This development comes after the Federal Reserve interest rate cut, which has driven crypto prices up. As the meme coin positions for an explosive move, this analysis explores the factors behind the revised prediction and what traders should watch out for. Shiba Inu Offers an Opportunity, Boosts Traders’ Confidence Two weeks ago, SHIB was trading at $0.000012, amid concerns of a potential capitulation. However, the price has since climbed to $0.000014, spurred by the Federal Open Market Committee’s (FOMC) decision to implement a 50 basis point interest rate cut. At the time when SHIB traded at $0.000012, its price-Daily Active Addresses (DAA) divergence showed a negative reading. This on-chain metric is vital for identifying potential entry and exit points in the market. A negative price-DAA divergence signals low user engagement on the blockchain, suggesting that a price rise may not be sustainable due to insufficient network activity to maintain the trend. However, as seen below, Shiba Inu’s price-DAA divergence has turned positive at 15.90%. This indicates that the recent uptrend is backed by rising network activity. Hence, SHIB still offers an opportunity to buy as the price could swing higher than its current level. Read more: Top 9 Safest Crypto Exchanges in 2024 Shiba Inu Price-DAA Divergence. Source: Santiment Speaking of SHIB’s future potential, data from Coinglass reveals a surge in derivatives volume. Previously, both the spot and derivatives markets showed low activity, reflecting limited interest in the token. As volume increased, there was a notable shift in the Funding Rate, which serves as an indicator of trader sentiment. A negative Funding Rate typically signals that most traders hold short positions. However, at press time, the rate has shifted to positive, suggesting that…
What's Your Reaction?
