Unprecedented developments are taking place in the crypto market! What you need to know now

Crypto News – Important developments have taken place in the cryptocurrency market this week and the overall market has been affected by these developments. Especially, the US CPI data had a positive impact on the market and Bitcoin regained the levels it lost at the beginning of the week. The total cryptocurrency market value was close to $3.61 trillion on Monday, but it fell to $3.54 trillion in the following days. Bitcoin had tested the $94,000 levels with the negative news flow, and is currently trading at $101,600. Ethereum has recovered some of the losses it experienced on Tuesday and is fluctuating around $3,890 at the time of writing.

XRP, which marked November, could not regain last week's highs after the recent drop, but is changing hands at $2.4 at the time of writing. Things seem more complicated in the meme coin market. The leading altcoins of the market partially recovered from the value loss they experienced at the beginning of the week. Meme coin assets like Dogecoin and Shiba Inu are trading near the dip levels they tested on Tuesday. Dogecoin is selling for $0.39574 with an 8% weekly decline. Shiba Inu coin, on the other hand, dropped by 11% in the past week and is changing hands at $0.00002736.

In the following sections of this article, we will conduct a detailed review of Bitcoin, Ethereum, and XRP. At the same time, we will discuss why things are not going well in the meme coin market.

Faced with Unprecedented Interest Similar to Ethereum!

According to data published by Santiment, Ethereum is experiencing unprecedented interest lately. According to the post made by the data provider, Ethereum wallet addresses have reached an 8-month high, and in December, 130,200 new wallet addresses were observed on the network every day.

Ethereum is creating new wallets at a record high level of 8 months. With an average of 130,200 new addresses appearing on the network every day so far in December, ETH is experiencing a renewed interest not seen since April.

In addition, there have been significant developments in Ethereum indicators. Ethereum's Total Locked Value (TVL) reached 78 billion dollars. This shows that the rise in Ethereum is based on solid foundations and proves the increasing reliability and popularity of the asset. In addition, Ethereum ETFs witnessed a net inflow of about 2 billion dollars in the last 2 weeks. Recently, Ethereum ETFs seem to attract more attention than Bitcoin. Ethereum ETFs paint a promising picture for the future. As long as there is no negative news flow, Ethereum may have great potential. Also, the price levels at which it is currently trading may present opportunities.

Has Bitcoin Reached Its Peak?

Data provider Santiment shared several key indicators that could also be important for Bitcoin. According to Santiment, trading against the crowd will be profitable as the community begins to lean in both directions for the rest of the year. The chart below shows that Bitcoin rose when the Sell ratio was high. Conversely, it shows that Bitcoin fell when the Buy ratio was high.

"Bitcoin climbed back to 101.5K as crypto week came to a close. Buying calls are quiet on social media. For the next big swing of Bitcoin, this chart will be quite useful for when to buy (when the crowd is in panic) and when to sell (when the crowd is greedy)."

Crypto analyst Ali Martinez made striking statements in this period when questions such as whether Bitcoin has reached its peak or can test new ATHs. The analyst said, 'If Bitcoin follows the patterns of the 2015 and 2018 cycles, it can reach the next market peak in October 2025. However, if BTC reflects the 2011 cycle, it means that the market peak has already been reached!' Many investors, on the other hand, disagreed with the famous analyst's comment and argued that the cycles would lengthen instead of shortening.

If #Bitcoin follows the patterns of the 2015 and 2018 cycles, the next market top could hit in October 2025. But if $BTC mirrors the 2011 cycle, the market top is already in! pic.twitter.com/YSEzKKf95T

— Ali (@ali_charts) December 13, 2024

Expectations for the meme coin market have increased, especially with the recent pre-sale projects. However, popular assets like Dogecoin and Shiba Inu are trading with losses.

Dogecoin is trading around $0.395 and the $0.36 level is of great importance. If a weekly close occurs below $0.36, it may test lower levels. Investors should monitor this level and be prepared for possible declines. Shiba Inu also experienced a significant drop this week, trading at $0.00002747. However, according to data shared by Shibburn, there has been a significant increase in SHIBA burning activity. We will all follow together in the coming days whether this will trigger a price explosion.

HOURLY SHIB UPDATE$SHIB Price: $0.00002865 (1hr 0.00% ▲ | 24hr 3.65% ▲ )
Market Cap: $16,894,735,192 (3.63% ▲)
Total Supply: 589,257,293,677,689

TOKENS BURNT Past 24Hrs: 2,242,442 (-81.06% ▼) Past 7 Days: 87,892,567 (-96.91% ▼)

• Shibburn (@shibburn) December 14, 2024

WEPE Pre-Sale Exceeds $20 Million!

In this period of speculation in the meme coin market, a new presale project is attracting attention. Wall Street Pepe (WEPE) is a meme coin project inspired by the viral PEPE coin and created to deal with whale addresses. The aim of the WEPE token is to create a community equipped with special trading information to eliminate the dominance of whale addresses in the market.

Buy WEPE

Wall Street PEPE (WEPE) has raised over 20 million dollars in a short time in pre-sale. At the time of writing this article, 1 WEPE token is being sold at a price of 0.000364 dollars. Users who want to buy WEPE tokens before the next price increase can easily do so via the official website.

The information in the text is purely for informational purposes. It does not constitute any investment advice. The author and kriptoparahaber.com are not responsible for any profit or loss arising from your investments. Ultimately, investment is based on many factors such as knowledge, experience, research, and personal decisions.

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