Cryptocurrencies Price Prediction: Shiba Inu, Bitcoin & Cosmos – European Wrap 3 May
Shiba Inu price offers two reasons why SHIB will rally 15% this week
Shiba Inu (SHIB) price is getting some support from two different angles as SHIB gears up for a firm rally higher. The first element comes from podcaster David Gokhshtein, who recently became a big fan of PEPE but nonetheless has commented that SHIB will remain his favored position for the long run. Add to that a burn rate of 30,940% or 2,254,093,318 SHIB tokens being burned, and you get less supply. The lower supply meshes nicely with David Gokhshtein’s sign of approval that might trigger a pickup in demand, resulting in a 15% jump.
With Fed's rate hike around the corner, Bitcoin price could rally again
Arthur Hayes, crypto influencer and analyst told his 377,000 followers on Twitter that he is shorting US bank related stocks. The expert’s opinion is that the Central bank needs to cut interest rates to tackle the banking crisis and rate hikes are deepening the brewing financial troubles of banks in the US.
On the backs of banking failure and the decline in US equities, Bitcoin price rallied on Tuesday, climbing above $28,600.
Cosmos Price Prediction: ATOM sets the stage for 20% move
Cosmos price approaches a long-standing support level for the fourth time in the last two months. With each bounce, ATOM has consolidated tighter, signaling that a breakout could catalyze a volatile move.
Cosmos price bounced off the $10.55 support level on May 11 and triggered a 26% rally. Following this, ATOM rallied 22% and 13% on the following two occasions it tagged the aforementioned foothold.
Author
FXStreet Team
FXStreet
