Smaller Cryptocurrencies Shiba Inu and Pi Network Face Decline, While Remittix Soars, Reaching Over $17 Million in ICO Funding
In the ever-evolving world of cryptocurrencies, several notable developments are shaping the market landscape. Here's a roundup of the latest news and trends:
Shiba Inu Coin
The popular meme-based cryptocurrency, Shiba Inu (SHIB), is making headlines as it breaks out of a descending wedge pattern, currently hovering near $0.0000160. According to technical analysts, this move could signal a bullish trend for SHIB, with potential targets as high as $0.0000943 based on wave counts. Furthermore, technical indicators suggest a bullish divergence, which may strengthen the case for a continued upward trajectory. However, it's crucial for SHIB to hold above the wedge support to maintain the bullish case intact.
Remittix
Remittix, a relatively new player in the cryptocurrency scene, is gaining traction among freelancers, international traders, and even analyst watchlists. The Remittix Wallet beta launch is scheduled for September 15, offering full crypto wallet functionality. Remittix has already raised over $17 million and sold over 565 million tokens at $0.0842 each. Despite the lack of information about the people or group behind the project and the amount of money they have raised so far, Remittix is trending on social platforms and showing promising potential.
BlockDAG
BlockDAG, another rising star in the crypto world, is outpacing Ethereum's rally and Toncoin's momentum. The platform, which boasts over 3 million miners and 300 dApps, has reached nearly $410 million in its presale. This impressive growth has not gone unnoticed, as the SEC has recently approved new standards for digital asset ETF listings, potentially paving the way for BlockDAG's entry into the ETF market.
Other Developments
In the United States, discussions are underway regarding the potential inclusion of Bitcoin reserves and funding options. Meanwhile, the Federal Reserve, led by Jerome Powell, has reiterated its dual mandate as rate strategy. Elsewhere, Cardano is facing resistance, while Tron is currently priced at $0.33. Pi Network, another cryptocurrency, has dipped 2% and is testing the $0.4371 support level.
As always, it's essential to approach the cryptocurrency market with caution and conduct thorough research before making any investment decisions. Stay tuned for more updates as the world of cryptocurrencies continues to evolve.
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