Bears will be punished by XRP and SHIB, and BTC may reach $50,000. By the end of the year, the SHIB Burn Rate had increased by 3,808%

Santiment releases secret sauce, XRP and Shiba Inu (SHIB) plan to punish bears

The XRP token is presently experiencing a surge in social dominance, according to the Santiment crypto intelligence portal, marking the greatest level in this metric since May. Analysts at Santiment stressed the need of increasing conversation in the midst of a greening price, noting that this tendency frequently results in a higher likelihood of price escalation. Aside from XRP, the crypto community is buzzing about Bitcoin (BTC) and Shiba Inu (SHIB). While it is evident why Bitcoin remains the center of attention (it is still the most popular cryptocurrency in terms of popularity), the reason for lively Shiba Inu discussions can be ascribed to the much-anticipated release date of Shibarium, the native Layer 2 protocol for Shiba Inu.

Bitcoin (BTC) might reach $50,000 by the end of the year and $120,000 by 2025: Standard Chartered Bank

According to Reuters, Standard Chartered, a large international British bank, just released their Bitcoin price forecast. According to forecasts, the king cryptocurrency might reach $50,000 by the end of this year. Analysts at the bank also anticipated that greater heights of $120,000 might be achieved by the end of next year, 2024. Standard Chartered predicts that if the price of Bitcoin rises, miners will begin stockpiling more of the coins they create. Overall, Bitcoin’s price has climbed by 83% since the beginning of the year, exceeding the growth of the Nasdaq Composite index.

Shiba Inu (SHIB) burn rate has increased by 3,808%; here are the possibilities for the coming week.

According to Shibburn data, the burn rate of the Shiba Inu coin increased by 3,808% yesterday. This occurred as a result of the SHIB army distributing 508,958,446 SHIB tokens to inactive wallets. The comeback of the burn rate indicates that transactions in the Shiba Inu ecosystem are increasing at an irregular rate, as assessed by Shibarium user count. The pace and rate of burning are projected to continue as the new week begins. One of the promising forecasts for the week is that the SHIB token, as well as all other related tokens, will return to a positive trading price. When combined with increased demand, the burn rate produces scarcity, which may aid in driving up the asset’s value.

Key Notes:

• XRP token is seeing a surge in social dominance, and Shiba Inu is also experiencing notable conversations, with excitement building around the upcoming release of Shibarium.
• Santiment predicts potential bullish runs for XRP and Shiba Inu, with increasing address activity and declining trading volumes indicating a potential upward price movement for both cryptocurrencies.
• The potential for China to drive the next bull market in the cryptocurrency industry has focused attention on Shiba Inu, XRP, and Tradecurve. XRP is seeing increased trading volumes and strong technical indicators, making the target of reaching $1 by Q4 an ambitious one, though possible if optimism generated by China’s influence continues.

Risk disclaimer:

Please note that this article does not offer any instructions or suggestions regarding investment decisions. It is important for you to conduct your own research or seek professional advice from a qualified professional before conducting an investment decision.