John Bollinger Issues Positive Litecoin Price Prediction, Samson Mow Slams ETH Ahead of Ethereum ETF Launch, SHIB Burn Rate Spikes 482%: Crypto News Digest by U.Today

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As a seasoned researcher with a background in cryptocurrencies and financial markets, I find these top three stories from U.Today particularly intriguing. Let me share my perspective based on my personal experiences and knowledge.

Check out the top three news stories over the past day presented to you by U.Today.

Legendary trader John Bollinger issues blockbuster Litecoin (LTC) price prediction

John Bollinger, a well-known trading authority and inventor of Bollinger Bands, has expressed optimism regarding Litecoin (LTC) prices. This prediction stemmed from a query by an X user about Bollinger’s perspective on LTC’s monthly chart. In response, Bollinger suggested adjusting the chart by lowering the Y-axis slightly compared to the price low while retaining the log scale. With these modifications, the Litecoin price chart displayed narrowed Bollinger Bands, reflecting reduced market volatility – a condition typically preceding substantial price shifts. Bollinger remarked that it looked “overdue for LTC to become active.”

Samson Mow slams ETH ahead of Ethereum ETF launch

Samson Mow, the CEO of JAN3 and a well-known Bitcoin advocate, voiced his concerns about Ethereum’s disappointing price behavior in a recent post. This critique came as the long-awaited spot Ethereum Exchange-Traded Funds (ETFs) were finally set to debut in the market. Mow noted that Ethereum had been underperforming significantly, with minimal or no appreciable price increase following the announcement of the upcoming ETF trading launch. In contrast, Bitcoin’s price experienced a substantial surge when similar spot Bitcoin ETFs were approved by the SEC back in January 2021, before actual trading even began.

Shiba Inu (SHIB) stays ahead with 482% burn rate surge

As a researcher studying the cryptocurrency market, I’ve observed that while the Ethereum ETF launch news took center stage, Shiba Inu has persisted in its upward trend with regard to the burn rate metric. Although it remains uncertain whether this surge is due to recent transactions or transfers from earlier this week, the remarkable 482% increase within a day has rekindled latent enthusiasm for the meme coin. According to Shibburn’s data, approximately 60,380,203 SHIB tokens were sent to dead-end wallets during that period. Over the past week, the amount of burnt tokens has amounted to an impressive 135,026,217 SHIB. Notably, this most recent burning event showed significant activity from at least five distinct wallet addresses. Each of these wallets transferred over 9,999,999 SHIB into dead wallets, as reported by Shibburn.

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2024-07-24 19:08