Cryptocurrencies Price Prediction: Arbitrum, Ethereum & Shiba – European Wrap 6 April

Arbitrum revises controversial proposal as the Layer 2 solution matches Ethereum in daily transactions

Arbitrum made headlines over the month of March, first for the launch of its native token ARB and then for AIP-1. The very first governance proposal that the Foundation put out did not sit well with the community resulting in severe backlash. Now the Foundation is attempting to fix its blunder since Arbitrum use has sustained solid growth.

The controversial proposal was criticized for the way it handled the response from the community. Despite noting a majority vote against the transfer of $1 billion worth of 750 million ARB for admin and operations costs, the Foundation went ahead with it anyway.

Ethereum price explodes past $1,900, will ETH climb higher before Shanghai upgrade

Ethereum hit a new yearly high as the price climbed above the $1,900 level for the first time in a year. ETH holders await the Shanghai hard fork scheduled for April 12 and a rally in the altcoin close to the event signals the likelihood of the upgrade being a “sell-the-news” event.

Ethereum, the second-largest altcoin by market capitalization witnessed a spike in its price earlier today. ETH price climbed consistently since mid-December 2022, pushing the altcoin to a new yearly peak of $1,911, based on data from CoinGecko.

Shiba Inu themed meme coin rallies hit roadblock: SHIB, DOGE, FLOKI, ELON

Shiba Inu themed meme coins SHIB, Dogecoin (DOGE), Floki Inu (FLOKI) and Dogelon Mars (ELON) wiped out their recent gains driven partly by Twitter’s logo change. Meme coin price rallies are popular for being typically fleeting.

Historically, meme coin holders engage in profit-taking when the price hits a local top.

Shiba Inu themed meme coins yielded gains for holders in response to the recent logo change of Twitter. DOGE offered double-digit gains to holders overnight while SHIB, FLOKI and ELON followed the lead of the largest meme coin in the ecosystem.