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Cryptocurrencies Price Prediction: SEC, Cryptos & Shiba Inu – American Wrap 21 February

SEC agrees in principle to drop case against Coinbase, is Ripple next?

The United States (US) Securities & Exchange Commission (SEC) reached a conclusion "in principle" on Friday to end its legal action against crypto exchange Coinbase, subject to an official vote that may take place next week. As a result, crypto community members now anticipate the agency could also end its case against Ripple.

 

Crypto exchange Bybit hacked for $1.4 billion worth of ETH

Following a security breach on its platform on Friday, crypto exchange Bybit announced that it suffered a hack where an attacker compromised one of its ETH wallets.

 

Shiba Inu gears for recovery as DOGE, PEPE and BONK struggle in meme coin market

Shiba Inu (SHIB), the second-largest meme coin in the crypto ecosystem, made a key announcement on Friday. New and improved liquidity pools on Shib.io are expected to improve the user experience and drive higher adoption among traders in the SHIB ecosystem. 

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Pi Network Price Forecast: PI flashes bearish potential as selling pressure mounts

Pi Network trades above $0.2000 at press time on Thursday, following a nearly 2% decline the previous day. Centralized Exchanges have received 1.90 million PI tokens over the last 24 hours, suggesting risk-off sentiment among holders.

Algorand Price Forecast: ALGO eyes further upside as falling-wedge retest holds

Algorand (ALGO) price steadies around $0.136 on Thursday, nearing a key support level; if it holds, it suggests further upside. Bullish sentiment strengthens as ALGO’s on-chain and derivatives data indicate improving trader sentiment.

Top Crypto Losers: Pump.fun, Story, and Pudgy Penguins test key support levels

Pump.fun (PUMP), Story (IP), and Pudgy Penguins (PENGU) experience intense selling pressure over the last 24 hours. PUMP and IP failed to cross the 50-day Exponential Moving Average, resulting in a pullback on Wednesday, while PENGU is testing its 50-day EMA.

XRP faces selling pressure as key on-chain metric resets and ETF inflows weaken

Ripple (XRP) is trading downward but holding support at $2.22 at the time of writing on Wednesday, as fear spreads across the cryptocurrency market, reversing gains made from the start of the year.

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Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.