Shiba Inu (SHIB) Teeters on the Edge of Another Decimal Point
The SHIB/USD daily chart reveals a delicate situation for the meme coin, Shiba Inu, as it approaches a critical juncture, potentially dropping below the significant $0.00001 barrier. Beyond being a psychological threshold, this level serves as a technical support that, if breached, could exacerbate the existing bearish trend. After a period of bullish momentum, SHIB is now experiencing a decline that poses a threat to this crucial support level. The chart indicates a gradual descent toward the threshold, signaling the possibility of a further decline in price. Failure to hold this support level may lead to a more substantial decline, heightening bearish sentiments in the market.
MicroStrategy’s Bold Move: Massive Bitcoin Purchase
MicroStrategy, in an announcement on Wednesday, disclosed the acquisition of an additional batch of Bitcoins, amounting to approximately $615.7 million. The purchase, conducted at an average price of around $42,110 per Bitcoin, inclusive of fees and expenses, occurred between Nov. 30 and Dec. 26. This acquisition adds to MicroStrategy’s already substantial Bitcoin holdings, which now stand at about 189,150 Bitcoins. The average purchase price per BTC is approximately $31,168, with an aggregate purchase cost of around $5.895 billion. MicroStrategy’s recent strategic move underscores its continued commitment to Bitcoin as a valuable asset, following its substantial November acquisition totaling about $593.3 million.
Binance Expands Offerings: XRP and Cardano (ADA) Among New Listings
In a significant development, Binance has announced the introduction of trading pairs for XRP and ADA against USDC, the second-largest stablecoin in the crypto market. This expansion, effective from Dec. 28, includes several other notable cryptocurrencies such as Arbitrum (ARB), Avalanche (AVAX), Polkadot (DOT), Polygon (MATIC), Solana (SOL), and more. Binance’s strategic approach is evident in the addition of these popular and sizable assets, many of which have recently witnessed substantial surges in both value and trading volume. The move further solidifies Binance’s position as a leading cryptocurrency exchange, catering to the evolving demands of the crypto community.
