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Cryptocurrencies Price Prediction: Shiba Inu, Crypto & Tether – European Wrap 12 June

Cryptocurrencies Price Prediction: Shiba Inu, Crypto & Tether – European Wrap 12 June
FXStreet TeamFXStreet TeamFXStreet

Shiba Inu Price Forecast: Correction looms amid whale sell-off and falling supply in profit 

Shiba Inu (SHIB) trades in the red on Thursday, extending the 3.22% drop from the previous day. Facing headwinds at the 50-day EMA, Shiba Inu risks a steeper correction as the large investors trim their SHIB holdings, concurrent with the supply in profit dropping to 23%. 

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Crypto Today: Bitcoin, Ethereum, XRP risk further decline amid softer volumes and profit-taking 

Bitcoin (BTC) failed to hold above $110,000 following the sentiment-fuelled rally earlier this week, which broadly lifted cryptocurrency prices. The largest cryptocurrency by market capitalization has continued to lose strength over the last two days, currently trading at around $107,399 at the time of writing on Thursday.

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Tether acquires 32% stake in Canadian-listed Gold mining company Elemental

Tether Group, the issuer of the world’s largest stablecoin USDT through its affiliate Tether Investments, has completed the acquisition of a 32% stake in Elemental Altus Royalties Corp. (Elemental). The development comes amid an intentional shift by Tether to strengthen its grip on long-term assets such as Gold and Bitcoin and as part of a strategic mission to build a robust and decentralized digital economy infrastructure.

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