Shiba

Ethereum

bullish

Bitcoin

Coin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-plummets-while-shiba-coin-and-ethereum-face-market-challenges/" data-wpel-link="internal">Bitcoin Price Plummets While Shiba Coin and Ethereum Face Market Challenges</a> 
Bitcoin (BTC) has returned to $62,500, causing altcoins to see red. Increased volatility in cryptocurrencies is anticipated. Upcoming Fed minutes, inflation data, and other developments may influence risk market sentiment positively or negatively. What do recent predictions indicate for <a href="https://en.coin-turk.com/shiba-inu-leader-kusama-responds-to-coinbases-campaign/" data-wpel-link="internal">Shiba</a> Coin and Ethereum ? 
<h2 style="text-align: justify" id="shiba-coin-insights">Shiba Coin Insights</h2> 
As the second-largest meme coin by market capitalization, Shiba Coin made waves in the <a href="https://en.coin-turk.com/bitcoin-and-altcoins-price-movements-and-market-trends/" data-wpel-link="internal">cryptocurrency</a> world in 2021. Throughout the year, it rewarded its community by consistently eliminating zeros from its price, and it has made strides in various hype areas to build its ecosystem. However, insufficient interest in areas such as the Metaverse, NFT, DeFi, and layer 2 solutions has led to further deterioration for Shiba Coin during bear markets. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-395355 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/10/SHIBUSDT_2024-10-08_14-52-36.png" alt="" width="1814" height="836"> 
The developer aspect of Shiba Coin offers a chance to rejuvenate the community through new products and services. Due to the current weakness in Bitcoin prices, recent attempts at upward movement for SHIB have failed. Closing above $0.00001915 could lead to targeting the support level at $0.00002078. 
The current objective hinges on rising BTC prices and the resistance levels above. However, if BTC sales accelerate, testing the support levels of $0.00001528 and $0.00001314 may occur. 
<h2 style="text-align: justify" id="ethereum-eth-assessment">Ethereum (ETH) Assessment</h2> 
Since the Merge, annual inflation has decreased to -0.37%, but it has risen to -0.058%. This deflation narrative has not been favorable for bullish markets. In just the last 30 days, 45,407 new Ether have entered circulation, leading to increased supply amid waning demand. Thus, ETH prices hovering around $2,400 seem reasonable as the anticipated wave of demand has not yet begun. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-395356 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/10/ETHUSDT_2024-10-08_14-56-47.png" alt="" width="1814" height="836"> 
While closing above $2,330 appears positive, without $2,474 converting to support, testing $2,720 seems challenging. As the largest <a href="https://en.coin-turk.com/shiba-inus-market-position-amidst-recent-developments-and-trend-reversals/" data-wpel-link="internal">altcoin</a> by market cap, Ethereum’s performance is also closely tied to altcoin gains against BTC. Current weaknesses in the market are further supporting losses across altcoins. 
Assuming the anticipated rally in the upcoming weeks materializes for the fourth quarter, a significant move from ETH is expected, converting $3,556 into support. 
The post <a href="https://en.coin-turk.com/bitcoin-price-plummets-while-shiba-coin-and-ethereum-face-market-challenges/" data-wpel-link="internal">Bitcoin Price Plummets While Shiba Coin and Ethereum Face Market Challenges</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Bitcoin Price Plummets While Shiba Coin and Ethereum Face Market Challenges

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