After 30% rally in 24 hours, can Shiba Inu offer more upside?

After 30% rally in 24 hours, can Shiba Inu offer more upside?

New Delhi: Meme token Shiba Inu was in the spotlight on Wednesday as the token zoomed over 31 per cent in the last 24 hours.

The popular meme coin listed on the trading platform Robinhood apart from Solana, Polygon and Compound. With this, investors can now access 11 cryptos on its platform, including Bitcoin, Ethereum and Dogecoin.

Among the newly listed tokens, Shiba Inu was the most abuzz as it rallied 31 per cent to $0.00002977 from $0.00002272 within 24 hours. However, the token is still 65 per cent below its all-time peak of $0.00008 hit in October 2021.

Volumes of Shiba Inu also witnessed a spectacular jump of 475 per cent as SHIB tokens worth more than $4.36 billion exchanged hands in the last 24 hours.

Ishan Arora, Partner, Tykhe Block Ventures said the Shiba Inu will attract ample eyeballs as it has listed on Robinhood, the largest retail stock trading app.

The users can quickly buy Shiba Inu with just a click without worrying about exchanges or wallets.

The 15th largest crypto token was commanding a market cap close to $16 billion with a total of 549,063.28 billion SHIB tokens in supply, the data from Coinmarketcap suggested.

Anndy Lian, Chairman, BigONE exchange said buzz among retail investors for Shiba Inu is more compared with other coins that got listed on Robinhood at the same time.

Analysts at BigONE still see an upswing of 20-80 per cent gain from the current position. The analysis was released a few days before the Robinhood announcement.

“This spike in price could also help other promising meme coins such as Floki Inu, Kishu Inu, Babydoge or the newer ones on Cronos chain such as Croki gain more traction,” he added.

The spike in Shiba Inu also extended to other tokens. Baby Shiba Inu, Dogey Inu, Banano, SafeMoon Inu, BitShiba, Shiba Girlfriend and Flok Inu rose up to 22 per cent.

However, meme tokens are highly volatile in nature and lack sound fundamental value. Experts suggest that investors should not blindly punt on such joke coins, which are prone to become junk coins.

Arora suggests that investors need to be extra cautious with their investment in the meme tokens, especially in the current volatile market conditions.

Shiba Inu investors are hopeful about SHIB token price reaching 1 cent in 2022. However, SHIB will have to increase 403 times to reach that level this year. In the year 2021, Shiba Inu had risen 60 times in a span of six months.

There has been news of Ethereum whales purchasing Shiba Inu tokens in bulk. If the ETH whales are shifting to Shiba Inu, it is evidence of increasing trust for the Shiba Inu ecosystem. However, the buying from whales could not be verified.

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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STRONG coin price prediction: Can token regain growth?

STRONG coin price prediction: Can token regain growth?

StrongBlock is the first of its kind decentralised platform attempting to make launching nodes, necessary for the smooth running of blockchains, cheaper and easier.

Its native cryptocurrency, STRONG token, has had quite the journey since launching in 2020, enjoying a rather fruitful 2021. Yet since then, the coin started to dramatically fall in the second half of January 2021, unable to reach past heights.

Can STRONG rise back to its October 2021 value and which factors are driving the STRONG/USD forecast?

What is the STRONG coin?

StrongBlock was founded in 2018 by ‘blockchain pioneers’ David Moss, Brian Abramson and Corey Lederer with the goal  to easily add secure, decentralised blockchains to any application.

It had taken the company, however, two years to launch its Blockchain-as-a-Service (BaaS) platform.

By tackling one of the biggest problems new blockchains face, StrongBlock managed to become the first and only blockchain-agnostic protocol that rewards its users for running nodes.

Nodes, which are vital for the existence of any blockchain, keep full copies of blockchain transactions but are hard to create and pricey to operate. This leads many nodes to run outdated software, store incomplete blockchain histories and be intermittently offline.

StrongBlock’s Nodes-as-a-Service (NaaS) function lets cryptocurrency miners create nodes in seconds. In turn, miners are rewarded in the form of the blockchain’s native cryptocurrency, STRONG, for maintaining the node without having to run their device 24/7.

Rewards can be boosted with StrongBlock non-fungible tokens (NFTs) that are available in four categories: bronze, silver, gold and platinum.

Once a node is launched, it can be used by anyone to access the blockchain the node was built for. So far, StrongBlock supports hundreds of nodes built for Polygon, Ethereum and Sentinel. The approximate amount to set up and run a full Ethereum node is $113.11 per month.

Being listed as an eligible node on StrongBlock is free, however, users should expect a mining deposit to amount to 10 STRONG tokens.

STRONG is an ERC-20 cryptocurrency built on the Ethereum network. Its original supply amounted to 10 million, however, after launching the second version of its Decentralised Finance (DeFi) protocol, StrongBlock ended up burning 94% of the original tokens limiting the supply to around 535,000 STRONG coins.

In the second version of its tokenomics paper, StrongBlock noted that the token:

  • Is primarily used for rewards.
  • Supports a low-inflation model with rewards mostly generated through node participation that may adjust in accordance to token valuation over time. In addition, deflationary measures will also be used including the burning of STRONG tokens in some transactions.
  • Establishes governance, which will eventually determine how StrongBlock works as a decentralised network.
  • Is helping the project reach a model of long-term, self-sustaining growth.

As of the time of writing (1 April), StrongBlock is rewarding 444,676 nodes.

Over 138,000 coins are currently in circulation, according to data provided by CoinMarketCap at the time of writing. STRONG currently has a market capitalisation surpassing $16m (£12.2m) and is ranked as the 828th largest cryptocurrency.

STRONG price analysis: Bear trend

The STRONG cryptocurrency embarked on quite the journey during its two years in circulation. After reaching a record high of $1,193.31 on 28 October 2021, the StrongBlock coin failed to regain those levels, slumping to the $116 mark, as of 1 April 2022.

After a mini peak of $708.97 on 14 January 2022 the STRONG token started to drastically drop, losing 35.48% of its value in 10 days. Throughout February 2022, the STRONG coin value lost 47% amid broad negative market sentiment as tensions rose on the Russia-Ukraine border.

STRONG/USD price chart, 2020 – 2022

In the most recent STRONG coin news, the project announced that the StrongBlock had reached 270,000 nodes on 27 January 2022.

The number of nodes being activated on StrongBlock drastically increased in February 2022 from 285,000 on 3 February to 350,000 on 27 February. In addition, the token celebrated great success as it debuted third on the top 10 US trending coins for the week chart on CoinGecko on 18 February. This gave investors hope that the token’s price could still resurface.

STRONG’s price continued to decrease in the next couple of weeks, falling to $113.62 on 26 March 2022, its lowest value that month.

Last year STRONG’s price action seemed hopeful as it surged to a record high of $1,193.31 on 28 October 2021 as the blockchain announced the start of its metal NFT lottery where miners would be eligible to qualify to purchase one StrongBlock metal NFT for its original price in STRONG.

In terms of STRONG technical analysis, the short-term sentiment for the token was largely bearish as at the time of writing (1 April).

Relative Strength Index (RSI) reading of 31 was extremely close to the oversold territory. A reading of 30 or below would indicate that the asset has become undervalued and a trend reversal is likely. Meanwhile, the token was trading below its three, five and 10-day moving averages, indicating a bearish trend.

STRONG token price prediction: Key drivers

On 28 February 2022, StrongBlock published its roadmap for 2022 underlining some key goals including:

  • The launch of its new token, STRONGER, which plans to solve a number of problems that followed the success of the NaaS DApp.
  • The release of several new features including two new, different types of nodes, a node marketplace and node transfer.
  • The platform’s intention to build a Layer 1, EVM-compatible blockchain protocol that will be known as StrongChain with the bigger goal in mind of moving its NaaS platform to StrongChain and creating a community-oriented model that will unlock new economic layers, increase sustainability, make STRONG more resilient, and lay a new foundation for growth.

BigONE Exchange chair in Asia, Anndy Lian, told Capital.com that the token’s price could be struggling due to the platform being unable to gain retail investor understanding.

“STRONG brings more decentralisation to the current decentralised space by offering multi chain third party external nodes and other data oracles to build robustness and efficiency,” Lian exclusively told Capital.com.

“They believe the best way to adopt blockchain is through DAO governance and reward the community sufficiently. This idea works well on the paper but may not be well understood by the retail investors as a whole. Things might change when they list in the more major exchanges,” he added.

Thus far, the STRONG token has been listed on ChainSwap and Poloniex Exchange.

In the recent announcement by the project, StrongBlock warned investors to beware of scams, suggesting it has been prone to attacks in the past.

StrongBlock (STRONG) price prediction 2022 – 2025

Despite the latest downward price action, algorithm-based forecasting service WalletInvestor gave a bullish STRONG crypto price prediction at the time of writing (1 April). The site noted that STRONG is “an awesome long-term investment”, adding that it has a long-term earning potential amounting to 1,343.3%.

Based on its analysis of past price performance, Wallet Investor predicted that STRONG could cost $460.507 in 2023 and reach $1,751.200 by 2027.

DigitalCoinPrice supported the positive STRONG/USD forecast but saw a much slower pace of growth in the following years, expecting the token to grow to $167.83 by the end of 2022 and reach $248.68 by the end of 2025.

By the end of 2027, the site predicted that the price of STRONG coin could reach $376.08. Its long-term STRONG token forecast showed the cryptocurrency reaching $553.34 by 2030.

Note that predictions about the future of STRONG can be wrong. Forecasts and analyst expectations shouldn’t be used as a substitute for your own research. Always conduct your own due diligence and rely on your own projections, and never invest or trade money you cannot afford to lose.

 

 

Original Source: https://capital.com/strongblock-strong-coin-price-prediction

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Anndy Lian spoke at launch of Alawad Fund “Dubai’s Drive To Be a Global Hub for Crypto Innovation Show Results”

Anndy Lian spoke at launch of Alawad Fund “Dubai’s Drive To Be a Global Hub for Crypto Innovation Show Results”

As regulation hots up in the US following the Executive Order, and with the prospect of new UK government plans to regulate the cryptocurrency market in the coming weeks, it’s clear that countries can no longer sit on the sidelines of the crypto industry. The potential shift in power spurred on by innovation in blockchain and related technologies means playing safe for jurisdictions is no longer an option. The UAE is well positioned to be a regional hub for the crypto industry, with a regulatory structure in place and with more than 350 blockchain companies operating there. UAE also took advantage of the pandemic to attract business with aggressive vaccination while largely keeping its borders open, while retaining business through low taxes and a light touch regulatory mindset – a perfect environment for attracting crypto entrepreneurs in the last two years.

Indeed, some call Dubai the fastest growing hub in the world right now for crypto technology, reflected in the fact that Binance has now set up offices in Dubai. It’s also benefiting from business relationships with the booming Israeli crypto sector based in Tel Aviv, according to a report in the Wall Street Journal following recent peace accords. In addition, it’s reported that the Abu Dhabi-headquartered fund Mubadala, one of the largest sovereign wealth funds with over $243bn AUM, is investing in the blockchain sector. Mubadala’s CEO Khaldoon Al Mubarak told CNBC in December that he was not a skeptic but saw it as real. But he did admit the regulatory format was not there totally, but it needed to be in place in order for the asset class to transition into something new. “We are looking at the ecosystem around crypto and we are investing in that system.”

This global momentum to embrace crypto and blockchain was addressed by the Chairman of BigONE Anndy Lian recently, in a speech to His Highness Awadh Mohamed Al Sh Mogrin Sultan, a top-ranking diplomat, and Honourable Chairman of the Alawad Fund. Lian said he saw similarities with the innovative and supportive crypto environment in Singapore: “I’ve actually seen the same trend in Dubai, I’ve met some good projects that are very serious about what they do, whether it’s looking at web3 or decentralized storage, or DeFi.”

Elaborating on two key trends starting with DeFi Lian said the integration of traditional finance products into DeFi such as bonds meant this was a sustainable sector for a country such as Dubai. He said the second significant trend was the crypto mining business with a very good uptake of new miners. “There are many new investors going into crypto mining, and when I say big investors, we’re talking about at the very least tens of billions of dollars going into the mining space. If you look at the longer term, it is a very lucrative investment.”

Lian remarked that as a partner & LP to several funds, with an AUM (assets under management) of around $500 million and having invested in crypto startups since 2018, he was looking forward to talking to people and brands about working together on the investment front in Dubai. “I want everybody to work together. You know, we should work together, be open, and welcome, good partners; this is the same philosophy that you do as well; this is the place where we will start to build a new story,” added Lian.

Earlier in March His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, approved the first ever law on regulating virtual assets. “Today we are participating in designing the future of virtual assets globally.” Sheikh Mohammed stressed that Dubai possesses all the capabilities to be a key global center in the field of virtual assets, supported with the new legislative environment. “Dubai will provide the most advanced virtual asset ecosystem in terms of organization, governance and security. Approving the virtual asset law and establishing the Dubai Virtual Asset Regulatory Authority is a vital step that establishes the UAE’s position in this sector… a step that aims to help the sector to grow and protect investors,” he confirmed.

The Chainalysis ‘2021 Geography of Cryptocurrency Report’ published in October 2021, found plenty of potential for growth in the Middle East in general and specifically the UAE. The Middle East as a whole is the second-smallest cryptocurrency economy studied by Chainalysis, having received $271.7 billion worth of cryptocurrency between July 2020 and June 2021 (6.6% of global activity). “While that total is low compared to other regions, it represents nearly a 1500% increase over the Middle East’s total activity the previous year, making it one of the fastest-growing markets in the world,” the report’s authors said.

Reflecting the success in promoting crypto businesses in Dubai, it was reported on March 28 that cryptocurrency exchange business Bybit has received in-principle approval to conduct a full spectrum of virtual assets business in Dubai, the firm announced with the UAE Ministry of Economy at the World Government Summit 2022. Bybit also confirmed that it plans to set up its global HQ in Dubai, under the Emirate’s “test-adapt-scale” virtual assets market model.

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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