Cryptocurrencies Price Prediction: Shiba Inu, Terra & Safemoon – American Wrap 01 June – FXStreet

Wealthlandnews June 3, 2022
Updated 2022/06/03 at 2:59 PM

FXStreet Team FXStreet Team

Shiba Inu price is still trading with bearish undertones as the bulls display sparse strength at the $0.00001200 levels compared to the bearish selloffs. The current $0.00001000 level is still within a relatively common range for smart money to negotiate for the SHIB price. If the technicals are correct, there could be one more capitulation event in the future for investors to catch a discount.

LUNA 2.0 price on different cryptocurrency exchange platforms has hit extreme volatility since its debut. The new token’s price swung between $30 and $4.8; experts believe a lack of liquidity is driving LUNA 2.0’s extreme volatility.
Mirror Protocol is being exploited again as we speak, and the devs are completely MIA. So far, the attacker has drained over $2m and counting – the attack will get worse when markets open tomorrow unless the dev team steps in and fixes the price oracle. @mirror_protocol (1/4)
Safemoon price shows reason for traders who partook in the 80% rally in May to close their positions. Safemoon bulls have been in profit now for well over two weeks. Last week, the price displayed the first bearish signal, which was a breach of the ascending trend channel. Now the bears appear to be building their short entries, which could be early evidence of a strong decline in the near future.

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Shiba Inu has witnessed explosive growth in its utility. The meme coin can now be used to book supercars, travel bookings, and flights, in addition to being accepted at fast-food restaurant chains. Analysts are bullish on Shiba Inu’s recovery after the recent slump.
Solana price attempted a recovery rally after days of consolidation between a support and resistance level. This move was supposed to be the hail mary of bulls, but the buying pressure exhausted, leading to a lower high and correction that could exacerbate SOL’s condition.
Safemoon price is undergoing a correction after its impressive rally seen between April 18 and May 26. This healthy pullback will be key in allowing buyers to regroup and recuperate for the next run-up.
Despite LUNA 2.0 price drop, some investors in the crypto community remain bullish on Terra’s new token. Other experts raised concerns about a potential colossal crash of LUNA 2.0, similar to what happened with the LUNA Classic and UST.
Bitcoin price consolidates above a weekly support level after the LUNA-induced crash on May 12. This coiling price action could cause BTC to trigger a move to the downside, further deepening the woes of investors.
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