Crypto News Digest by U.Today By U.Today


U.Today – Here are the three most important news stories from the past weekend, presented by U.Today

Is this bull market over? This ominous indicator suggests so

In a recent X post on Sunday, April 14, prominent trader Josh Olszewicz explained that Bitcoin may be headed for another bearish reversal. Olszewicz has included a 1D Bitcoin chart with five different lines, two of which form a cloud (which can be either red or green). The blue line is called the “conversion line” or “Tenkan” line and shows the average of the last nine periods. The red line is called the “baseline” or “Kijun line” and shows the average price of the last 26 periods. If Bitcoin price falls below the Kijun line, it indicates a bearish trend. Olszewicz noted that Bitcoin experienced its first Kijun tap since breaking out in early June. Although BTC price could still recover from here, the trader claims that the previous “triple top” structure actually points to a bearish reversal. At the time of writing, Bitcoin is changing hands at $64,328, according to CoinMarketCap.

's Shibarium is experiencing epic growth in key metrics

Data provided by the Shibariumscan website shows that Shibarium, Shiba Inu's Layer 2 solution, saw an incredible increase in activity, with daily transactions increasing from 288,690 to 347,460 on Saturday, April 13th. At the time of writing, this key metric is still growing at 419,520, indicating a significant change in the dynamics of the Shiba Inu network and encouraging optimism within the community. Interestingly, the increase in transaction activity was accompanied by a significant increase in the number of accounts interacting with the network. From April 12 to 13, the number of active accounts increased to 14,321, an increase of 218.33%. Likewise, the influx of new accounts increased by a remarkable 173% to 9,439.

324 million changed hands anonymously as DOGE plummeted by 19.4%

According to data from Whale Alert, Robinhood (NASDAQ:) recorded a withdrawal of several hundred million Dogecoin on Saturday, April 13th. This coincided with DOGE’s price dropping by 19%, leading market watchers to believe that anonymous whales were buying up the decline. Whale Alert reported three large transactions totaling 150,000,000; 100,000,000 and 74,024,901 DOGE. The smallest amount of DOGE was deposited into Robinhood, while the first two huge amounts of meme coins were removed from it. The 74 million DOGE transferred to Robinhood was intended for either long-term storage or sale. At the time these transactions were made, the 324 million Dogecoin block had a fiat monetary value of $49.9 million.

This article was originally published on U.Today


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