Month: Dezember 2022

• The price of Shiba Inu (SHIB) has fallen by around 65% since the collapse of the Terra ecosystem in May this year.
• Despite its efforts to build a full-fledged ecosystem consisting of blockchain games, NFTs and a metaverse platform, the Shiba Inu coin has struggled to perform well, losing roughly 90% of its all-time high price.
• The most active crypto community on Twitter, on the other hand, remains optimistic about the canine coin’s future.

The Shiba Inu (SHIB) coin has been struggling since the collapse of the Terra ecosystem in May 2021. The crash of the now-bankrupt cryptocurrency exchange FTX had a particularly adverse impact on the Shiba Inu coin, causing it to decline by around 65%. With a market capitalization of $4.7 billion, Shiba Inu is the 17th largest cryptocurrency today and the second-most popular memecoin, only trailing Dogecoin (DOGE).

Despite the coin’s attempts to build a full-fledged ecosystem which consists of blockchain games, NFTs, and a metaverse platform, it has been unable to perform well. In fact, the Shiba Inu coin has lost roughly 90% of its all-time high price. Nevertheless, the most active crypto community on Twitter remains optimistic about Shiba Inu’s future.

Shiba Inu was founded in 2020 by an anonymous techpreneur and has since grown in popularity. Elon Musk and Vitalik Buterin, both tech billionaires, have praised the project. Shiba Inu has been successful in attracting people who missed out on the Dogecoin craze previously. Investors seeking to join the joke have increased the popularity of memecoins, which are not supposed to be taken seriously.

The Shiba Inu project has been known to be a disrupter when it comes to management and operations. The enterprise is managed by a decentralized autonomous organization (DAO) which is made up of Shiba Inu holders. This model allows for the coin to be managed in a completely decentralized manner, free from the influence of a centralized authority.

In addition, Shiba Inu has also been successful in introducing a unique reward structure for its holders. Shiba Inu has implemented a new “Shiba Inu Rewards” program which rewards holders with a percentage of the total supply of SHIB tokens. This reward structure is intended to incentivize SHIB holders to remain loyal to the project and to increase the demand for the coin.

With the end of 2022 on the horizon, investors are still hopeful that the Shiba Inu coin will once again rise in value. This hopeful sentiment is driven by the promising reward structure, the project’s innovative approach to management, and the strong support of influential tech figures. Despite the coin’s struggles, investors remain optimistic that the Shiba Inu coin will eventually reach its all-time high price once again.

•Hedera [HBAR] saw some significant developments in 2022 that may lay the foundation for strong growth ahead.
•Notable developments and partnerships in 2022 included the network’s collaboration with LG Art Lab, aimed at facilitating NFT distribution.
•Hedera’s NFTs saw healthy trade volumes at the start of the year, however, the demand tapered as the market faced external economic pressures.

Hedera [HBAR] saw some major developments in the year 2022 that are likely to propel its growth in the coming years. The most noteworthy of these were the partnerships and developments made in the NFT (Non-Fungible Token) sector. This included the partnership with LG Art Lab, which is focused on facilitating the distribution of NFTs over the Hedera network.

At the beginning of the year, the demand for Hedera’s NFTs was healthy, with high trade volumes. However, as the market was affected by external economic pressures, the demand for these tokens began to slow down. Despite this, the partnership with LG Art Lab was still operational, with the Art Lab committed to building over 150 projects on the Hedera network. This has contributed to a healthy network adoption, despite the unfavorable conditions of the external market.

The partnership with LG Art Lab and the developments made in the NFT sector will give Hedera the platform to become a major player in the mass adoption of NFTs. This is especially true as the market works out the details of FTX’s collapse and the HBAR token experiences volatile movements. Chief Legal Officer of the HBAR Foundation has already issued grants to continue the development of the platform and has made a commitment to the success of Hedera.

It is likely that the developments made in the NFT sector over the last year will set the stage for solid growth in 2023 and 2024. Although HBAR was shy of oversold conditions, a price pivot still may be on the way. As the year 2022 comes to an end, it is important to take a look back at the performance of the top layer 1s and Hedera is definitely one to keep an eye on in the coming years.

• SOL was in a highly bearish structure at press time. Its FUD remained strong, undermining the asset’s performance and causing a 70%+ loss in the past 8 weeks.
• The Relative Strength Index (RSI) on the daily chart was deep in oversold territory, indicating that the buying pressure had diminished greatly and that selling pressure was intensifying.
• If selling pressure continued, a break below $9.43 was possible and bulls may find new support at $8.12 or $5.99. A breakout above $10.74 would invalidate the bearish bias.

Solana [SOL] was facing a bearish structure at press time, with its FUD remaining strong and causing a 70%+ loss in the past 8 weeks. This downward trend was observed in the Relative Strength Index (RSI) on the daily chart, which was deep in oversold territory and indicated that the buying pressure had diminished greatly while the selling pressure was intensifying. If this pressure continued, a break below $9.43 was possible and bulls may find new support at $8.12 or $5.99. However, a breakout above $10.74 would invalidate the bearish bias.

The FUD surrounding SOL was strong at press time, undermining the asset’s performance and causing a significant drop in its price. According to Santiment, this decline could be related to flattening development activity. This was further confirmed when the on-balance volume (OBV) fell sharply, removing the trading volume needed to reinforce buying pressure. Therefore, selling pressure intensified and pushed SOL down.

At the same time, the RSI on the daily chart was deep in oversold territory, indicating that the buying pressure had diminished greatly and that selling pressure was intensifying. This further confirms that SOL was indeed in a bearish structure and could fall below $9.43. Bulls may find new support at $8.12, however, if this level failed to hold, another at $5.99 may suffice. Thus, the levels can serve as short-selling targets, with a stop loss above the 23.6% Fib level of $10.74. A breakout above this level would invalidate the bearish bias.

Overall, Solana [SOL] still needs to overcome the FTX debacle and its FUD remained strong at press time, undermining the once-thriving asset’s performance. The RSI on the daily chart was deep in oversold territory, indicating that the buying pressure had diminished greatly and that selling pressure was intensifying. If selling pressure continued, a break below $9.43 was possible and bulls may find new support at $8.12 or $5.99. However, a breakout above $10.74 would invalidate the bearish bias. Therefore, the future of SOL remains uncertain, and investors should be cautious when entering the market.