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The Shiba Inu team is drawing attention to the long-term value of BONE, Shibarium’s gas token, despite the recent setbacks it has experienced in the market. Lucie, a Shiba Inu content marketer, sought to reassure investors by comparing BONE with Cardano (ADA) and XRP, two cryptocurrencies that first experienced prolonged periods of stagnation before recording humongous price hikes. Lucie’s statement brings attention to a recurring pattern in crypto markets: Early-stage assets often undergo prolonged periods of minimal price movement before gaining significant traction. Cardano (ADA) entered the market in 2017, debuting with a humble valuation of $600 million and a token value of only $0.02. Its price action was initially slow, but as time passed, Cardano picked up massive adoption. Current market figures now place ADA at $23.43 billion, which is a testament to its long-term growth path. Likewise, XRP joined the crypto market in 2012, initially being traded at about $0.10 per token. The Ripple token, however, went through several lows, with its price even dropping to an all-time low of $0.0028. In spite of the slow beginning, XRP later gained momentum, hitting a market capitalization of $135.71 billion today, with its price at $2.34. These past examples prove that initial stagnation is not a sign of failure. Rather, they underscore the way that patience and embrace can fuel major long-term advantages for cryptocurrencies that have solid fundamentals. Currently, BONE is available at $0.2449 with its market capitalization standing at about $56.32 million. The price of the token in the last 24 hours declined by 9.87% while its performance over the past week indicates a 4.74% loss. The market volatility has become a cause for concern among the investors, yet Lucie holds a positive attitude towards its future prospects. Shibarium, the Layer-2 blockchain with BONE as its gas fee token, is slowly on the rise. While adoption was slower than anticipated, growth can be a driver of future price recovery for BONE. The token’s usage within the Shiba Inu ecosystem is still a strong consideration that may drive higher demand in the long run. It’s important to note that Lucie’s comparison of BONE, Cardano, and XRP brings out an important investment strategy in crypto. It’s recognizing underpriced assets with good fundamentals before they are universally accepted. She emphasizes that though BONE’s performance right now might not look promising, history shows that long-term investors of good projects usually reap significant benefits. As reported earlier, in order to boost BONE use cases, Shiba Inu also launched the WHY combinator. Although opinions on the future of BONE vary, Lucie’s comments affirm that patience in the market has always paid off for investors who have faith in a project’s long-term vision. If BONE is to take a path similar to Cardano or XRP, it might end up being a top asset in the crypto market.

Crypto whales dumped vast amounts of Bitcoin (BTC) after plunging deep into panic mode. Bitcoin’s price slipped below $80K for the first time in months, heightening selloffs. At press time, BTC’s market cap stands at $1.7 trillion, with altcoins gaining ground. Despite declining BTC dominance, altcoins have also faced a bumpy trend in the same period. Whales Are Repositioning Assets On-chain data shows whales dumped over 40,000 BTC as the crypto dip bit harder. This comes on the back of negative sentiments as traders seek to mitigate losses. These movements have lowered the chances of a quick rebound although bulls offer other metrics for a recovery. Traditionally, asset repositioning extends the bear phase, usually salvaged by an influx of institutional investors. Several experts have projected a recovery by April citing on-chain and macro factors. In a Feb 28 report, Matrixport predicted the bear sentiment can extend between March and April before institutional investors pour funds into the market. “Looking ahead, the forward-looking nature of this time series suggests that once this correction runs its course potentially last until March or April. Bitcoin could attempt to rally back toward previous highs. Analyzing macroeconomic trends and central bank policies gives us a clear edge in forecasting Bitcoin’s price trajectory. This type of analysis is only becoming more crucial…” Last year institutional funds pushed Bitcoin to multiple all-time highs, consolidating on gains recorded after the approval of spot ETFs. These products have attracted over $39 billion in inflows since January 2024. Traditional finance players increased their asset exposure after many years of skepticism. Overall, these players are projected to reclaim dominance, pushing the asset to a cycle peak. At the time of writing, BTC exchanged hands for $84,501. Investors Set Gaze on Altcoins While traders offloaded BTC from their holdings, some redirected assets to altcoins to capitalize on the deep. According to Ali Martinez, Solana (SOL) is experiencing major macro shifts after several whales bought the dip. In the last 72 hours, traders also purchased 170 million ADA. ETH bulls also joined the party after the price fell below $2,200. Top meme coins like Dogecoin and Shiba Inu also traded similarly amid investor interest. Most altcoin enthusiasts target spot ETF approval to ignite price leaps. This is expected to usher in the much-anticipated altcoin season.

The cryptocurrency market presented a mixed picture following a significant development: NYSE Arca, associated with the New York Stock Exchange, submitted a filing to the SEC to list a Bitwise Dogecoin ETF. While this exchange-traded fund could potentially offer both institutional and retail investors regulated access to Dogecoin, the immediate market reaction was unexpectedly negative. This juxtaposition of events is noteworthy. The ETF filing indicates a continuing interest in memecoins, even considering the inherent market volatility. Also, this filing aligns with a broader trend of financial institutions pursuing regulatory authorization for crypto-related investment products. Nevertheless, Dogecoin’s price experienced a downturn, contrasting with the anticipated bullish sentiment. NYSE Arca filed a 19b-4 form with the SEC on March 3, seeking approval to list and trade shares of the Bitwise Dogecoin ETF. The significance of this action lies in the potential for investors to gain exposure to Dogecoin through a regulated investment vehicle, without direct management of the underlying cryptocurrency. The ETF structure is based on cash creation and redemption, circumventing direct Dogecoin transactions. Coinbase will serve as the fund’s custodian for Dogecoin, while the Bank of New York Mellon will manage cash custody, transfer agency, and administrative functions. Related: Meme Coin Mania: Pepe (PEPE) Outperforms Dogecoin and Shiba Inu Moreover, Bitwise had already submitted an S-1 registration form in January, signaling its intent to launch the ETF. Consequently, approval of this ETF could mark a significant step toward mainstream adoption of memecoins in financial markets. In spite of the ETF filing, Dogecoin’s price dropped over 12%, falling to $0.193588 . This decline erased gains made following Donald Trump’s crypto reserve announcement on March 2. The overall cryptocurrency market also witnessed a decline, contributing to Dogecoin’s subdued performance. Additionally, the SEC is reviewing a separate Grayscale Dogecoin Trust application, with a potential decision expected by mid-October. Institutional interest in Dogecoin has increased, but market sentiment remains volatile. According to Coincodex analysis , Dogecoin is expected to trade between $0.253801 and $0.314466 by year-end. This projection suggests a 43.62% price appreciation from current levels, predicated on an average December price of $0.276116. Based on these forecasts, DOGE investors could potentially realize profits of 63.57%. The Bitwise Dogecoin ETF is part of a wider trend where issuers are seeking approval for various altcoin-based funds. On March 3, the Nasdaq filed a proposal with the SEC to list and trade shares of the Grayscale Hedera Trust, which will track the price of HBAR. Besides, Nasdaq previously submitted an application for a similar Hedera-based product from Canary Capital. Several other issuers have filed for ETFs tracking Cardano, Solana, Polkadot, Litecoin, and XRP. Related: Dogecoin ETF: Why Bitwise’s Matt Hougan Believes This Meme Coin Deserves a Spot This surge in applications follows a shift in regulatory stance, as authorities appear more open to crypto-based financial products. However, the SEC’s final decisions on these ETFs will significantly influence the market’s direction in the coming months. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Recent token burn activities resulted in another increase in Shiba Inu (SHIB) circulating supply. Shiba Inu (SHIB) has seen notable price fluctuations.At the time of writing,SHIB was trading at $0.00001373. The price has surged by 1.43% today and a decline of 28.5% since the start of the month. The market cap stands at $8,041,569,961, down 2.21%, indicating a market-wide decrease in valuation. This suggests that despite minor hourly fluctuations, the overall trend remains bearish. The total supply of all SHIB tokens stands at 589.25 trillion yet the burn rate represents a critical factor for observation. The SHIB network burned 17,190,578 tokens during the past 24 hours which represented a 22.29% rise above the daily burn record. The burn volume for SHIB decreased by 26.36% across the last 7 days showing signs that long-term deflationary forces might be weakening. HOURLY SHIB UPDATE $SHIB Price: $0.00001365 (1hr 0.04% ▲ | 24hr -2.22% ▼ ) Market Cap: $8,041,569,961 (-2.21% ▼) Total Supply: 589,255,293,146,698 TOKENS BURNT Past 24Hrs: 17,190,578 (22.29% ▲) Past 7 Days: 114,986,988 (-26.36% ▼) SHIB’s price movement indicates consolidation, with short-term fluctuations but a downward overall trend. If bullish sentiment increases and trading volume picks up, SHIB could test $0.00001380 – $0.00001400 as an upside target. However, if selling pressure persists, SHIB might drop towards $0.00001340 – $0.00001320, testing new support levels. The MACD analysis shows bearish trends because the MACD line sits at -0.00000001 beneath the signal line at -0.00000100 thus indicating low buying activity and minimal bullish momentum. The current RSI position near 34.50 marks the start of oversold territory although SHIB hasn’t entered a reversal stage. The sustained selling activity could drive SHIB prices toward $0.00001340 – $0.00001350 support areas.Thus, a resurgence in burn activity and strong buying pressure will be needed for a price rebound. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Big news for all memecoin holders! Under U.S. federal law SEC announced all memecoins like Dogecoin, Shiba Inu, and others will not follow traditional financial regulations like stocks or bonds. This decision was made as the U.S. does not consider memecoins to have real-life value in the market, apart from entertainment. Similarly, there was a ban on memecoins in Thailand in 2021. With clear guidelines and lighter regulations, the U.S. is trying to make the crypto exchange market more accessible and investor-friendly. Ultimately, this makes memecoins SEC-free, allowing them to be freely bought and sold. Aureal One is another emerging cryptocurrency that is hassle-free, secure, and offers rewarding programs in the crypto space. What Makes Aureal One the Best Cryptocurrency to Invest in Today? Aureal One is the best cryptocurrency to invest in, designed for gamers, developers, and investors—where they can trade, play, invest, and earn high-yielding returns with a safe and secure channel. Powered by next-gen AI blockchain, Aureal One processes thousands of transactions per second. With games like Clash of Tiles and DarkLume, every investor and gamer becomes part of a one-of-a-kind ecosystem. In Aureal One, their native token DLUME has real-life utility, which many crypto projects struggle to achieve. Join the best of metaverse gaming and cryptocurrency with Aureal One. Be part of the revolutionary crypto movement! NOTE: Investors must conduct comprehensive research and analyze the market conditions before making decisions. They must examine market volatility, assess risk tolerance, and proceed accordingly.