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Quick market read from this story
Shiba Inu price testing historic $0.0000050 support zone, last seen in June 2023
SHIB trading at $0.00000559, up 5.63% in 24 hours after testing yearly low
Macro uncertainty and geopolitical tensions are weighing on broader crypto market sentiment
Bitcoin shows relative strength, trading around $71,649, potentially supporting altcoin recovery.
Deep Dive
Shiba Inu is currently testing a significant historical support zone around $0.0000050, a level that has previously triggered major recoveries for the meme coin. The token reached an intraday low of $0.00000526 on Binance, nearing its 2025 yearly floor of $0.00000507 established on February 6.
The $0.0000050 price range holds historical importance for SHIB. This zone was last tested in June 2023, which was followed by a sustained period of bullish price action. Before that, this level served as a floor during earlier bear market cycles. Having been tested only twice in three years, the current retest is considered notable.
Despite experiencing six consecutive red daily candles, SHIB has shown resilience at its intraday lows. At the time of reporting, Shiba Inu is trading at approximately $0.00000559, marking a 5.63% increase over the past 24 hours. Analysts generally consider a close above this level as a necessary condition for any significant upward movement.
Broader market uncertainty continues to be a major factor, with geopolitical tensions, including the impact of the Israel-Iran conflict on global oil production, affecting risk assets. Reduced output from Iraq's Rumaila oil field has added pressure to global economic forecasts, dampening sentiment across cryptocurrency markets.
Bitcoin has demonstrated relative strength amidst these conditions, reclaiming the $68,000 level without setting new lows, indicating that demand remains stable at current prices. Historically, Bitcoin's stabilization often acts as a catalyst for altcoin recovery, including SHIB.
Bitcoin is currently trading around $71,649, up 7.69% in the last 24 hours.
Source, catalyst, and sector overlap from the latest feed.
Dubai stock market fell 5% on Wednesday after a two-day closure. Banks, property, and energy sectors led the declines. Regional volatility and geopolitical tensions are impacting UAE markets. Market cap of Abu Dhabi and Dubai exchanges lost billions in value.
SpaceX valuation reaches $1.75 trillion driven by Starlink expansion and launch dominance. Routine Starlink satellite launches reinforce SpaceX's position in the space-internet market. Reusability of Falcon 9 boosters significantly reduces marginal launch costs. Risks include regulatory scrutiny, competition, and capital intensity for future Starship development.
Dogecoin trades at $0.09227 amid bearish pressure. But MACD is shifting, and a Morning Doji Star pattern hints at a potential DOGE reversal toward $0.80.
Iranians moved $10.3M in Bitcoin from exchanges to self-custody wallets amid geopolitical stress. Bitcoin price surged nearly 7% in 24 hours and 9% in 7 days, outperforming traditional markets. Spot Bitcoin ETFs saw $1.45B in net inflows over five trading days ending March 2, with another $225M on March 3. Taker Buy Sell Ratio on Binance reached 1.18, indicating stronger buy-side pressure in derivatives markets.
Sanae Token on Solana surged to $27.7M market cap before crashing to $7M. Japanese FSA is reviewing the Sanae Token case for potential regulatory violations. Prime Minister Sanae Takaichi publicly denied any connection to the token.
River price shows a 31% surge, attempting to break key resistance at $20. Pippin price has crashed 38% and faces potential further 50% decline towards $0.12. Liquidity is rotating from large-cap assets to smaller tokens, with rapid rotation within the low-cap segment. River needs to hold above $20 to target $25, while Pippin's bearish technicals suggest further downside.
SANAE token, a Solana-based meme coin, experienced a significant price drop of 75%. The decline followed a denial of any connection by Japan's Prime Minister, Sanae Takaichi. The token's market cap fell from nearly $30 million to $6 million. The meme coin was launched by a political YouTube channel aiming to modernize democracy with Web3 technology.
Strategy Inc. acquired an additional 3,015 BTC for $204 million, increasing its total holdings to 720,737 BTC. 470 million XRP were deposited on Binance in the past week, raising concerns of potential sell-offs. Dogecoin ETFs have recorded zero net inflows since February 3rd, indicating a lack of investor demand.
Shiba Inu open interest increased by 15.74% to $61.62 million in 24 hours. Futures volume surged 36% to $179 million, indicating heightened trader activity. Spot volume rose 73.94% to $36.89 million, with a slight sell-side imbalance. SHIB price is trading sideways at $0.00000550, down 2.66% in the last 24 hours.
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XRP price shows potential breakout from symmetrical triangle targeting $1.95. Spot XRP ETFs recorded $7.53 million in net inflows on Tuesday, marking five consecutive days of net inflows. Cumulative XRP ETF inflows reach nearly $1.25 billion with AUM at $1 billion. Analysts suggest a weekly close above the 200-week EMA and $1.55 could shift momentum.
CFTC eyes April approval for bringing true perpetual futures onshore to the US. Potential approval could shift significant derivatives volume from offshore to US-regulated venues. Onshore perps aim to improve US price discovery, risk management, and reduce counterparty concentration. Broader scenario suggests US derivatives volume could reach $8.5-12.8 billion daily if scalability is achieved.
Key Takeaways Ripple CEO Brad Garlinghouse puts 90% odds on the CLARITY Act passing by end of April 2026 The […] The post Ripple CEO Brad Garlinghouse: Banks Are Holding Crypto Regulation Hostage – And the White House Is Done Waiting appeared first on Coindoo.
Kraken's banking unit secured Federal Reserve master account access. This grants direct access to the Fed's core payment systems. The account has limitations, similar to the Fed's 'skinny' master account proposal. This move improves fiat deposit and withdrawal efficiency for digital asset markets.
XRP Ledger payment volume decreased by 70% after a 400% surge. The decline is attributed to normalization after a spike in large internal transfers, not network weakness. XRP price is consolidating around $1.40, showing cautious stabilization. Recovery above $1.45-$1.50 resistance is key for further upside.
Kraken Financial is the first crypto firm to obtain a Federal Reserve master account. Direct access to Fedwire allows for dollar settlements without intermediary banks. This integration enhances Kraken's institutional credibility and transaction efficiency. The development signifies a step towards integrating digital assets with traditional finance.
Bitcoin reached a one-month high, surpassing $71,000, driven by geopolitical stability hopes and potential US regulatory clarity. The Clarity Act, aimed at legalizing stablecoins, is speculated to be nearing passage, potentially benefiting altcoins. Bitcoin's oversold condition prior to recent geopolitical events has likely revived investor interest, including institutional inflows into spot ETFs. Traders anticipate continued volatility, especially if the Strait of Hormuz remains disrupted, impacting oil prices.
Kraken is the first crypto firm to gain direct access to Federal Reserve payment rails. This integration allows for direct fiat settlement, reducing reliance on intermediary banks. The move signifies a structural shift towards deeper integration between crypto and traditional finance. This precedent could influence regulatory approaches and pave the way for other crypto platforms.
NEAR Protocol price has risen 18% in 24 hours, completing the cup formation of a cup and handle pattern. A breakout above $1.44 could trigger a 75% rally towards $2.11-$2.53, but shorts are increasing. Derivatives data shows open interest surged to $174 million with a negative funding rate, indicating bearish sentiment among leverage traders. Hidden bearish divergence on RSI suggests potential weakness or a pullback, contrasting with the bullish chart pattern.
Morgan Stanley filed a prospectus for a proposed Bitcoin Trust ETF. BNY Mellon and Coinbase Custody will provide custody services for the ETF. The ETF will directly hold Bitcoin and use CoinDesk Bitcoin Benchmark for NAV calculation. Custody insurance exists but may not cover all potential losses.
Bitcoin price jumped over 5% to around $72,000 on Wednesday. Technical analysis suggests a symmetrical triangle breakout could target $80,000 in March. An unfilled CME futures gap exists between $79,660 and $81,210, acting as a potential magnet. Polymarket odds show increased conviction for Bitcoin reaching $80,000 in March.
Bitcoin surpassed $71,000, triggering $433 million in liquidations. Rally driven by positioning resets, lower post-halving supply elasticity, and improving liquidity expectations. Geopolitical escalation could reverse gains; containment may fuel further upside. Analysts suggest sustainability hinges on liquidity and geopolitical risks, with mixed outlooks on continued upside.
Tether Investments made a $1.5 billion investment in Eight Sleep. The investment aims to advance AI-driven health technology and sleep optimization. Tether's QVAC architecture will be integrated into Eight Sleep products.
Kraken Financial is the first crypto company to receive a master account from the US Federal Reserve. This grants Kraken direct access to the Fed's payment systems, moving money on the same rails as banks. The approval signifies a potentially softer regulatory tone from the Fed towards the crypto industry. Kraken's banking unit does not receive full banking privileges like interest on reserves.
Bitcoin reached a one-month high of $71,800, approaching previous resistance near $72,000. Rally driven by increased demand for haven assets amid escalating Middle East conflict. Gold and silver also saw significant gains, indicating a broader risk-off sentiment shift. Altcoins, particularly lower-market-cap tokens like KITE, AERO, and TAO, outperformed majors with double-digit gains.
Nobitex, Iran's largest crypto exchange, showed no signs of user-driven capital flight post-strike. TRM Labs attributes spike in Nobitex wallet activity to routine liquidity management, not panic withdrawals. Chainalysis reported $10.3 million in digital assets left Iranian exchanges between Feb. 28 and March 2. Hourly outflows from Iranian exchanges briefly surged over 873% higher than the 2026 average.
Signal context only. Validate with price action, liquidity, and risk limits before taking a position.
