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The price of Shiba Inu is under pressure as the trading volume is close to zero
SHIB he doesn’t do it so well, and the volumes are close to hitting values close to zero, which can essentially stop the demonstration.
- Market stagnation. SHIB continues to struggle as trading activity on major exchanges dries up
With trading activity drying up on the major exchanges and volume levels falling dangerously close to zero, Shiba Inu is still under increasing pressure. The interest of investors in the once hyped meme token seems to decrease at the same time the volatility itself, as evidenced by the decreasing participation.
- Technical perspective. The meme token remains trapped in a tight consolidation range near $0.0000102
SHIB has been trapped in a narrow consolidation range for weeks, failing to attract significant buying power or selling flow. It is currently trading near $0.0000102. After a vicious October crash, the token is slowly moving along the short-term uptrend line on the daily chart.
The XRP network is seeing growth in new accounts and transaction volume
XRP saw a surge in the new users on the network, which allows the potential for a recovery in the coming week on the market.
- Growth on the chain. The XRP network has seen a sharp increase in user activity.
The data indicates that the number of newly activated accounts doubled in a matter of days, indicating a dramatic growth in the chain in new user activity on the XRP network. Almost 9,900 new accounts were registered by XRP on October 30, which was one of the largest one-day increases in months.
- Market implication. The uptick signals renewed user engagement and potential ecosystem momentum for XRP.
Although the underlying cause is still unknown, this spike is consistent with an increase in transaction activity and payment volume across the network, suggesting a resurgence of user interest. Data on the chain shows that on November 1, the number of payments between accounts exceeded 1 million, and the volume of payments increased to more than 1.2 billion XRP.
Tom Lee says the gold rally could increase the future value of Bitcoin
Crypto bull Tom Lee he revealed a mega Bitcoin prediction.
- Bullish view. Tom Lee stated that gold’s recent all-time highs support Bitcoin’s long-term price potential.
In a recent interview with Anthony Pompliano, the president of the crypto bull and Bitmine, Tom Lee, explains how gold helps the future price of the Bitcoin terminal. Bitcoin historian Pete Rizzo shared an insight from the discussion as he predicted that Bitcoin could reach $3 million.
- BTC price forecast. Lee estimated a potential range of $1.6 million to $2 million per BTC.
The president of Bitmine explains that the recent rally in gold, which saw it reach a new all-time high, remains very bullish for Bitcoin and Ethereum as gold moves first and then Bitcoin catches up. Lee added that he thinks gold is actually helping the future price of the Bitcoin terminal.
When asked what the fair value of Bitcoin could be if gold reaches $5,000, Lee replied that if the gold market cap is divided by the number of Bitcoins, that gives $1.6 to $2 million per coin.
