Cryptocurrencies Price Prediction: Polygon, Shiba Inu & Pepe — Asian Wrap 11 September

FXStreet Team FXStreet

MATIC price declines, on-chain activity fails to catalyze recovery in Polygon’s token

Polygon’s MATIC token witnessed a spike in user activity since Thursday, September 7. There has been a steady increase in metrics that measure user activity: Daily active addresses, volume, whale transfers greater than $100,000 and $1 million.

Shiba Inu price lags behind despite massive spike in Shibarium transactions and SHIB token burn

Shiba Inu price is struggling to wipe out its losses from the past week. SHIB price declined 3.42% in the past seven days. The meme coin’s Layer 2 chain Shibarium noted a spike in activity, however the development failed to act as a catalyst for SHIB price.

PEPE price recovery fazed by split in the meme coin’s team and Telegram account hack

PEPE, a frog-themed meme coin, that recently made headlines for differences between the founding team members and the theft of nearly $15 million worth of tokens. Early on Saturday, the official X account of the meme coin informed the community that the Telegram account was compromised.

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Aave Price Forecast: Bearish RSI divergence risks a 20% drop despite steady DeFi deposits

Aave (AAVE) extends a mild near-term recovery, holding above its 50-day Exponential Moving Average at $90.80. Aave protocol’s V3 deployment on Monad blockchain recorded over $500 million in deposits over the last month, reflecting increased user adoption.

Dogecoin Price Forecast: Bullish divergence hints at DOGE recovery

Dogecoin (DOGE) steadies near $0.070 after falling 3.5% last week. While the broader trend remains bearish, improving derivatives metrics and bullish divergences in momentum indicators suggest that selling pressure may be easing, hinting at a potential recovery. Derivatives data shows bullish sentiment among Dogecoin traders.

Top Altcoins Price Forecast: Ripple nears triangle breakout while Cardano, Hyperliquid rebound

Ripple trades above $1.00, approaching the apex of a symmetrical triangle pattern. Cardano and Hyperliquid hold steady, sustaining gains from the recent rebound. The technical outlook for XRP is mixed while ADA and HYPE maintain a bullish bias. XRP maintains a mixed tone on the daily chart, trapped between two converging trendlines forming a symmetrical triangle pattern.

Ripple and Stellar outlook: XRP and XLM steady as derivatives data points to easing downside pressure

Ripple (XRP) and Stellar (XLM) show mixed price action on Tuesday, with XRP holding above the key $1 support zone while XLM faces rejection at $0.173. Meanwhile, improving derivatives metrics alongside fading bearish momentum suggest that the downside pressure may be easing for both altcoins. Derivatives data shows mild bullish sentiment among traders.

Bitcoin: Bulls hold the line

Bitcoin (BTC) edges slightly lower, trading at $64,300 at the time of writing on Friday but holding firmly above a key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) support BTC as they continued to attract institutional flows through Thursday, pointing to the fourth consecutive week of net inflows.