Cryptocurrencies Price Prediction: Luna Classic, Shiba Inu and Chainlink – European Wrap 1 December

FXStreet Team FXStreet

Terra’s Luna Classic price squeeze hints at explosive breakout to $0.000185

Luna Classic price is ready to kick-start a strong move to the upside after nine days of consolidation. This range tightening has squeezed volatility, but if certain conditions are met, a comeback could be on the cards for LUNC.

Shiba Inu burn destroys 666 million SHIB, the meme coin could rally on one condition

Shiba Inu, popularly known as "the Dogecoin-killer", witnessed a spike in burn in November. The community destroyed 666 million SHIB in 149 transactions, pulling these tokens out of circulation permanently. The meme coin is ready to begin its recovery despite the crypto bear market.

Chainlink price could surprise LINK holders, as it prepares for staking on Ethereum

Chainlink is eyeing gains ahead of its staking launch on Ethereum mainnet in December. Staking is a core initiative of Chainlink Economics 2.0, a new program offering LINK holders the opportunity to earn rewards.

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Ripple faces persistent bear risks, shrugging off ETF inflows

Ripple is extending its decline for the second consecutive day, trading at $2.06 at the time of writing on Friday. Sentiment surrounding the cross-border remittance token continues to lag despite steady inflows into XRP spot ETFs.

Luna Classic soars 20% as Do Kwon's sentence hearing looms

Luna Classic surges 20% on Friday, extending its recovery for the fourth consecutive day. Roughly 959 million tokens have been burned in December so far, fueling LUNC's recovery.

Crypto Today: Bitcoin, Ethereum, XRP pare gains despite increasing hopes of upcoming Fed rate cut

Bitcoin (BTC) is steadying above $91,000 at the time of writing on Friday. Resistance at $94,150 capped recovery on Wednesday, but in the meantime, bulls have contained downside risks above $90,000.

Ethereum strengthens against BTC post-Fusaka, targeting $3,200 breakout

Ethereum trades above $3,100 on Friday, with bulls aiming for a breakout above a two-month-old resistance trendline. Ethereum gains strength against Bitcoin as demand for the major altcoin increases after the Fusaka upgrade.

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Bitcoin: BTC steadies as data suggests local bottom

Bitcoin (BTC) hovers around $91,000 at the time of writing on Friday, extending its recovery by 5% so far this week. On the institutional front, a modest outflow from US-listed spot Bitcoin Exchange Traded Funds (ETFs) marks a slowdown from previous weeks and signals a reduction in selling pressure, further supporting BTC’s recovery.

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