Home Latest News Cryptocurrencies Price Prediction: Shiba Inu, Crypto.com and SafeMoon – European Wrap 13...

Cryptocurrencies Price Prediction: Shiba Inu, Crypto.com and SafeMoon – European Wrap 13 May – FXStreet


FXStreet Team FXStreet Team

Shiba Inu (SHIB) price is recovering a bit after it incurred massive losses and instead looked like a wounded deer that has its life hanging by a thread. It is not just the dollar strength and the correction in the stock market but also the weak point in cryptocurrencies that have been exposed in total, with Tether and Stablecoins questioning their credibility. An existential crisis is not yet in the making, but once SHIB price dips below $0.00000655, a total liquidation could be at hand.
SHIB/USD daily chart
Crypto.com price has been on a steep corrective move for more than five months. This correction sped up after the FOMC meeting on May 4 and took a nosedive on May 5. Since then CRO has shattered plenty of significant support levels and the primary driver of markets has been the UST-LUNA fiasco.
SafeMoon price has shown no restraint in heading south since 2022. This downswing has caused the altcoin to lose the majority of its value, but one silver lining is that it may now be so oversold, Safemoon price could be ready to trigger a minor rally.
SAFFEMOON/USDT 1-day chart

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Arthur Hayes, the former CEO of BitMEX, believes forced Bitcoin liquidations have increased the selling pressure on the asset and explained the impact on BTC price. The bloodbath in crypto triggered a slew of liquidations by crypto lenders, forcing Bitcoin selling to push BTC lower. 
Shiba Inu ecosystem’s governance token BONE is set to become the gas of layer-2 solution Shibarium protocol. This is a milestone upgrade for ShibArmy and the community of Shiba Inu coin holders voted on a key upgrade in BONE.
According to Korean media outlet JTBC News, prosecutors in the nation have imposed travel restrictions on Terra developers and former developers as investigations into Terra's LUNA and UST death spiral continue.
In the latest twist-and-turn of the SEC vs. Ripple case, the US Securities and Exchange Commission has hit back at Ripple, objecting to the payment giants attempts to redact certain information it deems ‘sensitive and confidential’.
Bitcoin price has gone through turbulent times over the last few months. From reaching a new all-time high to hitting yearly lows and revisiting levels since 2020, the crypto markets have been extremely volatile.
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She has spent the past eight years playing the role of an infrastructure consultant, and has now joined Inferse.com as a full time blogger. Her current profession is a result of her deep interest in computer gadgets, laptops, gaming accessories and other tech happenings.