Bullish trend suggests Ethereum price recovery
The path has been quite challenging for the bulls since Ethereum reached a new three-year peak in mid-December last year. Since that time, it has fallen by more than 20% as the gains observed in the preceding two weeks were undone in the present week.
Nevertheless, the bulls are still in command as the support level around $3,200 remains resilient. Certainly, a glance at its weekly chart indicates a potential rebound. Initially, Ethereum price persists in trading above the 20 and 50-day EMAs.
Moreover, the emergence of the bullish inverted head and shoulders pattern suggests that ETH/USD may have reached its short-term low. In the short term, the altcoin will probably hover within the range of $3,200 to $3,850 as the bulls accumulate adequate momentum to retest and exceed the psychologically significant threshold of $4,000.
Ethereum price chart : Source: TradingView
iDEGEN: An AI wave that every astute investor should catch
The architects of iDEGEN aimed to create a project that is community-oriented, produced by the community. However, even they couldn’t foresee the magnitude of its influence.
Since its inception in late November 2024, this unique social experiment has depended on degens on Crypto Twitter to learn, evolve, and compose tweets every 60 minutes. It is this dynamic and engaged community that has propelled the project’s virality with over 1.3 billion $IDGN tokens already distributed.
Indeed, no one could have predicted the scale of iDEGEN’s impact less than 7 weeks post-launch. Its growth has been so rapid that X recently prohibited it from the platform citing “violent speech.”
Nevertheless, with the vast active community that has embraced the project as its own, the ban has not stifled this AI evolution. In fact, it has only intensified its virality; allowing the project to amass over $16 million as of this writing.
Astute investors recognize they cannot afford to miss out on this extraordinary profit-making opportunity. In less than 7 weeks, the returns have surpassed 72,000%. This suggests that early adopters are already enjoying significant gains as the token gears up for public release. Furthermore, with AI meme coins like ai16z and Fartcoin paving the way, iDEGEN is poised to flourish into a leading token with a market capitalization exceeding $1 billion. You can acquire the iDEGEN token here.
Shiba Inu facing pressure from emerging meme coins
Over the course of a month, Shiba Inu price has plummeted by approximately 35% as astute investors redirect their attention to emerging meme coins. Additionally, the neutral market sentiment has dampened the Bitcoin-led upturn that propelled the altcoin to a 9-month peak in December 2024.
On one hand, Shiba Inu continues to be one of the premier meme coins with a market cap surpassing $12 billion. However, it still has a considerable way to go in retesting its all-time high reached in October 2021 at $0.00008616.
According to its daily chart, the Bollinger Bands indicate short-term sideways trading within the range of $0.00002000 and $0.00002244. To bolster this analysis, the meme coin is currently trading below the 20 and 50-day EMAs, with the two moving averages having formed a bearish death cross pattern in late December 2024. Furthermore, with an RSI of 43, its price fluctuations may be relatively subdued.
Shiba Inu price chart by TradingView
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