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The overall market sentiment among crypto investors remains positive even as some assets report losses and fluctuations. While the bulls remain in control, Shiba Inu may enter a period of range-bound trading even though brief. On the other hand, Ripple price is set to retest 2018’s high as news over the approval of $RLUSD brings $3 into clear focus.
At the same time, iDEGEN remains on savvy investors’ radar as its unique approach to social engagement and pricing rakes in over $4 million less than a month since its launch. The power of AI, social media, and craze over meme coins has the project ranked as one of the top crypto investments of 2024 even before its launch.
Ripple price bolstered by news on stablecoin’s approval
XRP hit a multi-year high of $2.90 on 3rd December as the bulls sort to gather enough momentum to hit the $3 mark for the first time since 2018. While the profit-taking mood yielded a pull back to $1.91 on Tuesday, it has since parred some of those losses to trade at $2.42 as at the time of writing.
Even with the latest decline, investors remain bullish with prospects of a surge to $3 and beyond being heightened by the recent news on $RLUSD. On 10th Deceber, Ripple’s CEO Brad Garlinghouse announced the approval of Ripple’s US dollar-backed stablecoin from NYDFS. The stablecoin is expected to soon hit exchanges with its adoption set to significantly bolster the demand for XRP.
This just in…we have final approval from @NYDFS for $RLUSD! Exchange and partner listings will be live soon – and reminder: when RLUSD is live, you’ll hear it from @Ripple first.
— Brad Garlinghouse (@bgarlinghouse) December 10, 2024
iDEGEN’s on the list of best meme coins to invest in 2024
iDEGEN; an experiement that is still in its presale phase, has raked in millions in just a few weeks. The project, which was launched on 26th November 2024 has already raised over $4.19 million with over 938 million tokens sold as at the time of writing.
Notably, iDEGEN has adopted an interesting approach that might just place it in the list of the best cryptos of 2024. This potential lies in the unique trifactor of social media, artificial intelligence, and the ongoing wave of meme coins.
As stated on its platform, iDEGEN is “AI Born. Degen Raised”. This concept works by having its AI agent posting on X every hour. Subsequently, it absorbs, learns, and responds to all the info fed to it by the crypto degens.
This AI-powered tactic has yielded the kind of social engagement that gets meme coins skyrocketing. Unlike other meme coins, an AI meme coin like iDEGEN is more responsive to its digital community thus boosting its virality chances. It is no wonder the $IDGN token has had its price rise by over 2500% since its launch less than a month ago.
Besides, iDEGEN operates on a fair pricing model; a tactic that has further attracted investors to the platform. In a typical presale, the coin’s price surges as more investors purchase tokens. At the time of an ICO, a significant number liquidates their holdings to earn easy profits.
In the case of iDEGEN, the token price shifts with demand. If an investor purchases some $IDGN tokens within a period of 5 minutes, its price remains unchanged during the next span of 5 minutes. However, the price surges by 5% if purchases are made during two consecutive 5-minutes intervals. On the other hand, it will drop by 5% if 5 minutes lapse without a single purchase.
On 1st January 2025 when the auction ends, the listing price will be 10% higher than the final price. This means that it will begin trading on crypto exchanges at a price closer to the one anticipated by the current token holders thus lowering the probable decline in value post-ICO. You can buy the iDEGEN token here.
Shiba Inu might just be entering a period of range-bound trading
Shiba Inu, the top cat-themed coin by means of market cap, has seen its price fluctuate in recent sessions even as the overall market sentiment remains positive. According to CoinMarketCap, its price has been down by 2.56% over the past week while rising by 14.13% over the last 24 hours.
Ranked the 12th most valued crypto, it dropped below $0.00002500 on Monday after trading above that support zone for close to two weeks. It has since erased some of its recent losses to trade at $0.00002921 as at the time of writing.
With an RSI of 55 and trading above the 50 and 20-day EMAs, SHIB/USD bears the potential to break the resistance at $0.00003000 and retest last week’s high at $0.00003350. However, lack of enough bullish momentum may yield range-bound trading with $0.00002823 being a support zone worth watching.
This article first appeared at CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison
