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Shiba Inu Investment Strategy: Unlocking the Path to Millionaire Status at $0.001

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Investors who got in early on Shiba Inu (SHIB) witnessed substantial profits, with some making millions of dollars. Those who chose to sell their holdings early often express regret and wish they had held onto them for a longer period. Starting from its inception in August 2020 and peaking at $0.00008616, SHIB’s price experienced a staggering surge of millions of percent.

Despite reaching highs in 2021, the token has been on a downward trend. Nevertheless, numerous Shiba Inu investors and analysts are optimistic about the asset gaining momentum once again in 2024.

Shiba Inu Millionaire Blueprint

At the $0.001 price point, an investor would require 1,000,000,000 (1 billion) SHIB tokens to achieve a portfolio worth $1 million. The current cost of 1 billion SHIB is approximately $8,220. If SHIB were to reach $0.001, it would signify a growth of around 12,000%. Comparatively, since its inception, SHIB has exhibited growth far exceeding the 12,000% mark. Thus, such a price surge is not unprecedented for the project. The pivotal question now revolves around when SHIB might attain the $0.001 milestone.

According to Changelly, the projection is that SHIB won’t hit $0.001 until at least 2032. Telegaon’s analysis suggests a timeframe between 2030 and 2040 for SHIB to potentially touch $0.001. Consequently, investors might need to exercise patience as it could take several years for the popular memecoin to reach its target.

Additionally, achieving the $0.001 target necessitates Shiba Inu (SHIB) to reduce its circulating supply. Currently, the project has around 589 trillion tokens in circulation. Attaining a price of $0.001 per coin would result in an exceedingly large market cap. Nonetheless, the SHIB team has indicated their efforts toward implementing a new burn mechanism. Rumors suggest that the new burn portal could eliminate trillions of SHIB annually, potentially accelerating the timeline for SHIB to reach its $0.001 objective sooner than initially expected.

Coinbase Stock: ARK Invest Offloads $5.2 Million Amidst 18-Month High

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ARK Invest, a firm that has sought approval for a spot in the Bitcoin exchange-traded fund (ETF), has once again opted to take profits on its Coinbase shares amidst a surge in the stock price.

On November 27, ARK executed the sale of 43,956 Coinbase shares from its ARK Fintech Innovation ETF, as per a trade notification observed by Cointelegraph. At the time of the sale, the company’s stock reached $119.7 per share, translating to a transaction value of $5.3 million, according to data from TradingView.

The surge in the company’s stock price came after rival exchange Binance and its former CEO, Changpeng Zhao, pleaded guilty to money laundering and sanctions violations in the United States on November 21, 2023.

Over the past year, Coinbase’s stock has witnessed a 168% increase, surging over 220% since January 2023, according to TradingView data. Despite this impressive growth, the stock is still down approximately 70% from its all-time high of $319 in September 2021, a few months after its trading launch in April 2021.

Coinbase holdings already have the investments of ARK

ARK has been actively divesting its Coinbase holdings throughout 2023. In October, Cathie Wood’s investment firm sold 63,675 Coinbase shares from its ARK Next Generation Internet ETF (ARKW), amounting to $5.1 million.

Before this, ARK had engaged in significant Coinbase stock sales in July 2023, when the stock was trading around $90. According to ARK’s trading data, the firm offloaded over $103 million in Coinbase shares during that period.

In addition to Coinbase, ARK has been divesting Grayscale Bitcoin Trust (GBTC) stock. On November 24, ARKW sold 94,624 GBTC shares for around $3 million, following the sale of nearly 700,000 GBTC shares in the preceding month.

Contrary to speculation, Bloomberg’s ETF analyst Eric Balchunas clarified on X (formerly Twitter) on November 27 that ARK’s sale of GBTC is not indicative of a lack of bullish sentiment toward Bitcoin or an effort to make room for its forthcoming spot Bitcoin ETF with 21Shares. Balchunas emphasized that ARK is likely adjusting its portfolio to maintain desired weightings by selling winners and vice versa.

While divesting from Coinbase and GBTC, ARK has acquired crypto-related stock shares. On November 27, ARKF acquired 252,421 crypto-friendly banking app SoFi shares. ARK has purchased a total of 1.6 million SoFi shares, valued at $11 million at current prices. ARK has also been accumulating shares of the crypto-friendly investment app Robinhood, with a $1.1 million purchase on November 8.

Chainlink Set to Surge 11.49% By November 28 With 97% Bullish Market Sentiment

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Chainlink (LINK) has experienced a significant retracement since its peak in the second week of November, where it achieved an impressive yearly high. However, analysts are now eyeing a potential resurgence as LINK recently established a higher low at $13, raising speculation about an imminent upward movement.

LINK 7D graph coinmarketcap 9
Source: CoinMarketcap

The weekly timeframe reveals a compelling narrative, as LINK managed to break free from a stubborn 500-day horizontal resistance area in October. This breakthrough triggered a rapid ascent, marked by four consecutive bullish weekly candlesticks, ultimately propelling LINK to a new yearly high of $16.60 just two weeks ago. The remarkable rally amounted to a staggering 130% increase in a mere four weeks.

Despite a temporary setback in the past week, characterized by the creation of the first bearish weekly candlestick since the breakout, LINK has shown resilience with a swift recovery. Technical indicators now signal an overwhelmingly bullish market sentiment, with a remarkable 97% of market participants expressing confidence in Chainlink’s future trajectory. 

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The Fear & Greed Index reinforces this optimism, boasting a score of 73 (Greed). Therefore, the recent price forecast indicates that LINK value will increase by 11.49% and reach $16.59 by November 28.

As of the latest data, LINK is currently trading at $14.69, boasting a 24-hour trading volume of $602 million, reflecting a robust 60% increase. However, in the last 24 hours, LINK has experienced a minor dip of 0.78%.

LINK 1D graph coinmarketcap 14
Source: CoinMarketcap

Chainlink’s Coinbase Boost

Adding fuel to the bullish fire is Coinbase’s recent announcement of its support for Chainlink, along with Cardano, Dogecoin, and Stellar perpetual futures contracts on Coinbase International Exchange and Coinbase Advanced.

This move follows Coinbase’s recent launch of a derivatives exchange targeting international users. The addition of ADA-PERP, LINK-PERP, DOGE-PERP, and XLM-PERP markets is scheduled to commence on or after 10 am UTC on November 30, 2023.

Based on this positive momentum, cryptocurrency experts are optimistic about LINK’s prospects for November. Projections suggest that the cryptocurrency could witness a further surge, with anticipated minimum and maximum prices of $15.25 and $16.59, respectively. This potential uptick could result in a Return on Investment (ROI) of 9.1%, reinforcing the bullish sentiment surrounding Chainlink as the crypto community eagerly awaits the end of the month.

Related Reading | Weekly Crypto Report: Bitcoin & Ethereum Stand Firm, Altcoins Steal the Spotlight

Hong Kong Expedites Crypto Approvals Post-JPEX Rugpull, Focusing On Compliance Boost

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In the wake of the recent JPEX Rugpull incident, OSL, a compliance-focused exchange in Hong Kong, disclosed that the local government had expedited the approval process for cryptocurrency products. This move aims to boost the compliant development of the industry, signaling a proactive stance following the shockwaves caused by the JPEX debacle.

Stricter Monitoring for Crypto Platforms

According to reports from local media, the JPEX incident stirred considerable controversy, prompting licensed virtual asset platform operators to anticipate faster approval timelines for new products. Financial technology solution providers noted that building future tokenized platforms in collaboration with banks could significantly enhance the virtual asset industry’s credibility in the public’s eyes.

BC Technology (0863), a subsidiary of OSL and a licensed virtual asset platform company in Hong Kong, revealed insights on the matter. Hu Zhenbang, the group’s Chief Financial Officer, emphasized that the government has consistently supported the licensed virtual asset industry, maintaining stringent regulatory oversight. Post-JPEX, Zhenbang observed an acceleration in product approvals, indicating a commitment to reinforcing compliance.

He commented:

Non-compliant platforms will face stricter monitoring in the aftermath of the JPEX incident. To avoid legal repercussions, these platforms will no longer be permitted to engage in extensive public promotion at MTR stations, as was common in the past.

Chen Yaowen, Chief Digital Director and Financial Technology Innovation Director of Sifang Innovative Hong Kong, a financial technology solution provider specializing in virtual asset tokenization, expressed optimism. He highlighted the pivotal role that banks could play in fostering the industry’s growth, particularly by integrating with tokenized platforms.

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Source: News.mingpao

Yaowen clarified that with the public’s trust in banks and oversight from the China Securities Regulatory Commission, banks can ensure compliant operations in the crypto industry. It would enable the public to seamlessly trade virtual assets on regulated platforms, with secure withdrawals and deposits, presenting banks with substantial opportunities in tokenized virtual assets and secure custody wallets.

Nevertheless, the collaboration between compliant platforms, government regulators, and established financial institutions is anticipated to drive the region’s ascent in the global virtual asset market.

Related Reading | Weekly Crypto Report: Bitcoin & Ethereum Stand Firm, Altcoins Steal the Spotlight

Tether’s Latest Shuffle: Rally On Horizon?

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Leading stablecoins like Tether [USDT] and USD Coin [USDC] are digital assets tied to the value of traditional fiat currencies like the US dollar. These asset classes often serve as a safe bet for investors during periods of market uncertainty to preserve capital and avoid the volatile nature of other cryptocurrencies. However, the movement of a substantial percentage of these stablecoins to exchanges hinted at a shift in sentiment and a preparation for larger market movements.

The crypto market, known for its volatility, experienced a surge in activity following the transfer of Tether and USDCoin to exchanges. As highlighted by Santiment, this movement served as a prelude to the subsequent rally, which saw a widespread increase in the value of various cryptocurrencies. Bitcoin, Ethereum, and other major players in the market experienced notable price gains, attracting attention from both institutional and retail investors.

Tether
Tether's Latest Shuffle: Rally On Horizon? 6

As the crypto market enters a period of cooldown after the rally, the focus now turns to the potential return of USDT and USDC to exchanges. This movement is expected to be a crucial factor in sustaining the momentum gained during the previous weeks. The return of these stablecoins to exchanges signifies renewed interest and participation in the market, which could translate to increased liquidity and trading activity.

Tether & USDC’s Influence on 2023’s Finale

The final five weeks of 2023 hold the promise of continued market growth, and the reentry of Tether and USD Coin into the exchange ecosystem will likely play a pivotal role in this trajectory. Market analysts are closely monitoring these stablecoin movements, as they could provide insights into the intentions of investors and signal the direction of the broader cryptocurrency market.

In a recent development, Tether Holdings Limited released the assurance opinion for Q3 2023, conducted by the renowned BDO public accounting firm. The document offers a detailed analysis of Tether’s consolidated reserves and assets as of September 30. Notably, the Consolidated Reserves Report [CRR] by the company highlights a noteworthy achievement in the stablecoin landscape, revealing that an unprecedented 85.7% of its reserves are now held in cash and cash equivalents [C&Ceq].

Shiba Inu Soars: Turning $1,000 into $6,000 – The Incredible 500% Profit Proposition!

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Shiba Inu is currently being exchanged at the $0.00000820 mark and aims to eliminate its fifth decimal place on the charts. With SHIB hitting a new monthly low, there’s an opportunity for investors to amass the token at more affordable rates. For just $8.3, investors can now acquire 1,000,000 (1 million) SHIB tokens. The ongoing market downturn is causing the value of this canine-themed cryptocurrency to decline throughout the year.

Shiba Inu
Shiba Inu Soars: Turning $1,000 into $6,000 – The Incredible 500% Profit Proposition! 9

This article will spotlight a price projection anticipating a 500% increase in Shiba Inu’s value in the upcoming years. If this forecast proves accurate, investors stand to gain a remarkable 500%, reaping the rewards offered by this cryptocurrency.

Riding the Shiba Inu Wave

Shiba Inu
Shiba Inu Soars: Turning $1,000 into $6,000 – The Incredible 500% Profit Proposition! 10

A group of experts at Finder anticipates that Shiba Inu may achieve a value of $0.00004930 by the year 2025. According to Finder’s projection, SHIB could experience a significant price surge in 2025, reaching an annual peak of $0.00004930. This marks a remarkable increase of 500% from its current valuation of $0.00000820. Consequently, an investment of $1,000 has the potential to transform into $6,000 in 2025 if Finder’s projections materialize.

Finder suggests a prospective return on investment (ROI) of around 500% over the next two years. However, it is crucial to note that there is no guarantee that SHIB will indeed surge by 500% and attain $0.00004930 in two years, given the highly volatile nature of cryptocurrency markets that can result in substantial losses for investors. Caution is advised, and thorough research is recommended before considering an entry position in SHIB, particularly as the markets continue to grapple with global financial uncertainties.

As of the latest update, Shiba Inu is trading at $0.00000820, reflecting a nearly 1% increase in the 24-hour trading period. Additionally, SHIB has experienced a decline of nearly 91% from its historical peak of $0.00008616, recorded in October 2021.

Bitcoin Services Resumes On HTX Post-$30M Hack

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Bitcoin deposits and withdrawals have been successfully resumed following a significant setback on November 22, when the HTX crypto exchange fell victim to a $30 million exploit. The exchange shared this positive development in a blog post dated November 26, stating that deposit and withdrawal functions are now operational for various currencies besides Bitcoin. The official statement reads:

We are pleased to announce that HTX has resumed withdrawal services for certain cryptos via the ERC20 blockchain, including ETH, MATIC, PEPE, FLOKI, SHIB, etc. The resumption of deposit and withdrawal services for more cryptos on the platform will be implemented gradually. Please stay tuned for further announcements.

Expressing gratitude for the continued support and trust of its users, HTX has also introduced a special token airdrop event as a gesture of appreciation. This event will utilize a snapshot of users’ Rockets, with Rocket values determined by the 30-day average balance measured in USDT. Each USDT will equal one Rocket, and users holding assets such as HT, TRON [TRX], Bitcoin, and Ethereum will have their Rocket values multiplied.

The tokens for the airdrop will be sourced from a premium asset set to be listed on HTX, with specific details of the event to be unveiled in early December. In addition to the official announcement, TRON founder Justin Sun shared in a post that HTX has plans to gradually restore functionality to the remaining cryptocurrencies, anticipating completion “by next week.” HTX, previously known as Huobi, underwent an international rebranding under the guidance of Justin Sun.

Bitcoin Profitability Shoots Up

The exchange gained notoriety when an anonymous hacker illicitly accessed its hot wallets, resulting in an initial loss of approximately $13 million. On the same day, another venture led by Sun suffered an $85 million loss, adding to the challenges faced by the crypto industry, TronWeekly reported.

Meanwhile, the Bitcoin market has recorded a spike in the profitability metric, with the volume of Bitcoin supply reaching levels last seen two years ago. The Glassnode report showed that over 83% of the Bitcoin coin supply is currently held in profit, marking the highest level since November 2021, near the all-time high [ATH] of that period.

Crypto Bargains: Invest Wisely in These 3 Coins Under $0.10 for a Potential 2X Growth in 2024

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The cryptocurrency market is preparing for an upcoming bullish phase, expected by analysts around 2024. Analysts point to potential catalysts such as the introduction of a Bitcoin (BTC) Exchange Traded Fund (ETF) and the upcoming BTC halving event in the coming year. This anticipation of a bullish market trend might attract a wave of new investors to the cryptocurrency space.

For those entering the market for the first time, beginning with smaller investments that offer the potential for significant returns could be a strategic approach. Let’s explore the top three cryptocurrency projects priced under $0.10 that have the potential to experience a 2X rally in 2024.

3 Cryptos Under $0.10 for a Potential 2024 Doubling Effect

Shiba Inu (SHIB):

Shiba Inu (SHIB) has emerged as a highly favored cryptocurrency token in recent times. Despite facing challenges in 2023, analysts are optimistic about SHIB gaining substantial momentum in 2024. The token has experienced a nearly 90% decline from its previous all-time high (ATH) reached in 2021. There is widespread belief that SHIB has the potential to not only recover to its ATH during the upcoming bullish phase but potentially surpass it. Moreover, SHIB is recognized as one of the most affordably priced cryptocurrencies currently on the market.

Dogecoin (DOGE):

Dogecoin (DOGE) stands out as one of the most widely recognized cryptocurrency assets and is notably the pioneer in the meme coin category. Similar to SHIB, DOGE has faced challenges throughout much of 2023. Nevertheless, there is widespread anticipation that the canine-themed cryptocurrency will experience a significant surge in value during the upcoming bullish market. Additionally, there are speculations suggesting that DOGE might be included in the new payment feature of X (formerly known as Twitter). Participation in X’s payment feature has the potential to trigger an increase in global adoption for DOGE and consequently drive up its price.

VeChain (VET):

VeChain (VET) is a well-liked cryptocurrency available for less than $0.10. Functioning as a supply-chain-oriented project, VET actively engages in various environmental and climate change endeavors. Furthermore, the project has established partnerships with numerous prominent global corporations. Despite reaching its all-time high (ATH) in April 2021, VET has experienced a decline of more than 90% in its value.

OKX Launches Cutting-Edge Exchange In Brazil

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OKX, the second-largest offshore exchange globally, has officially introduced its cryptocurrency exchange and Web3 wallet platform in Brazil, aiming to provide a secure and trustworthy gateway for Brazilian users to access decentralized finance [DeFi] and engage in cryptocurrency trading. The platform’s launch also includes the incorporation of Brazilian Real fiat-on ramp capabilities for users.

In accordance with the press release, the OKX Exchange in Brazil stands out by offering a robust platform that enables users to trade hundreds of cryptocurrencies. It goes beyond basic trading functionalities, featuring advanced options such as staking rewards and seamless integration with the decentralized finance ecosystem.

OKX
OKX Launches Cutting-Edge Exchange In Brazil 12

Alongside the exchange, OKX has unveiled the OKX Wallet on the platform. This Web3 wallet serves as a secure self-custody portal, allowing users to access and manage various DeFi products, trade non-fungible tokens [NFTs], utilize decentralized applications [dApps], and more. The wallet boasts being the first of its kind, incorporating both Multi-Party Computation [MPC] technology and Account Abstraction [AA] features. This unique combination opens the door for broader adoption, particularly among users who may be less technically inclined.

OKX President Hong Fang expressed enthusiasm about the official launch of the localized platform and services in Brazil, highlighting the country’s position as the largest cryptocurrency market in Latin America. The platform now provides Brazilian traders with access to BRL rails, deep liquidity, security tools, and transparency, addressing the specific needs of the local market. The OKX Wallet, with its simplified access to DeFi, NFTs, dApps, and more, is positioned to contribute to the innovation and growth of the Web3 and crypto economies as the Brazilian market matures.

OKX Brings Cryptopedia To All Devices

Simultaneously, the cryptocurrency exchange has expanded its endorsement for Cryptopedia to encompass the desktop iteration of the OKX Wallet, in addition to the existing app version. The inclusion of Cryptopedia support on the web rendition of the OKX Wallet now enables users to avail themselves of the learn-to-earn platform on various devices, allowing them to engage in the ongoing seasons of Cryptopedia through the web version.

In addition, the trading platform teamed up with custody provider Komainu and asset manager CoinShares. The recently formed partnership seeks to enable round-the-clock trading of segregated assets while addressing counterparty risks that have been identified as a significant hurdle for institutional traders.

Binance CEO Teases Grand Prix Partnership

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In the wake of assuming the role of Binance’s new CEO, Richard Teng has swiftly sprung into action, echoing the proactive approach of his predecessor. Teng, currently in Abu Dhabi for the Formula 1 Grand Prix, has shared a photo featuring himself alongside mixed martial arts champion Khabib Nurmagomedov and football icon Ronaldo “Fenomeno.” This rendezvous has sparked speculation about potential collaborations on the horizon.

Binance has seized the opportunity presented by the Formula 1 Grand Prix in Abu Dhabi to make a grand entrance showcasing a colossal helmet balloon lifted by two helicopters on either side. Crafted by fans exclusively for French racer Pierre Gasly at the Grand Prix, the helmet is inspired by Binance’s distinctive colors and the Abu Dhabi night race ambiance. It incorporates Pierre’s preferred colors and intricate Arabic script, embodying the fusion of cultural aesthetics.

The exchange has formed such high-profile collaborations in the past. Under the leadership of the previous CEO, Changpeng Zhao, Binance partnered with soccer legend Cristiano Ronaldo, resulting in the creation of exclusive NFT collections. These collaborations extended beyond the digital realm, offering fans unprecedented experiences such as training sessions with the renowned soccer star.

Now, the exchange’s new face Richard Teng, soon after assuming leadership emphasized the continued robustness of the firm’s fundamentals. Despite facing the most significant regulatory actions by US authorities, Binance maintains its position as the world’s largest crypto exchange by volume. Teng highlighted the debt-free capital structure, modest expenses, and resilient revenues and profits, even with the user-friendly fee structure.

Binance: The Show Goes On

The transition of leadership at Binance occurred against the backdrop of substantial regulatory scrutiny. The former founder and CEO, Changpeng Zhao, stepped down after pleading guilty to violating US Anti-Money Laundering requirements in a settlement with the Department of Justice. Zhao was released under a $175 million bond, with a requirement to return to the US 14 days before the scheduled sentencing date on Feb. 24, 2024.

Binance
Image Credit: Business Insider

The intriguing aspect now is whether the recent interaction between Binance’s new CEO and sports legends points toward another significant partnership at the intersection of cryptocurrency and sports. The true nature of this unexpected meeting amid the spectacle of the Grand Prix remains a mystery, leaving the crypto community in anticipation until time unveils the details.