Cryptocurrencies Price Prediction: Shiba Inu, Gemini & Binance – American Wrap 07 July

FXStreet Team FXStreet

Shiba Inu holders increase a thousandfold after SHIB lead developer hints at Layer-2 Shibarium launch

Shiba Inu (SHIB) holders have increased a thousandfold over the last 24 hours, indicating increased adoption of the meme coin. The surge comes despite the meme coin’s market value dropping in the same timeframe, crossroads that suggest an external driving force to explain the growing interest.

Winklevoss’ Gemini exchange sues DCG Group and Barry Silbert in attempt to recover funds

Winklevoss twins’ Gemini Trust Co has filed a lawsuit against Digital Currency Group (DCG) Inc. and CEO Barry Silbert. Gemini alleges DCG of fraud and deception.

Binance CEO CZ claims the exchange is not FTX, fights FUD among BNB holders

Binance CEO Changpeng Zhao addressed the Fear, Uncertainty and Doubt (FUD) among crypto market participants after news of executives leaving the exchange became public.

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Dogecoin tests a key make-or-break point amid waning retail support

Dogecoin trades below $0.08000 maintaining a steady decline for the seventh straight week, with a 4% drop the previous day. The meme coin is losing its retail strength as DOGE futures Open Interest drops 10% in 24 hours, while institutional demand remains muted with zero inflows so far this week.

Meta CEO Zuckerberg directs development of standalone prediction markets app 'Arena'

Mark Zuckerberg has directed a small team at Meta to develop a new smartphone app focused on prediction markets, according to a Tuesday report by the New York Times. The experimental project, internally known as Arena, would allow users to forecast outcomes across sports, politics, entertainment and current events.

Top 3 Price Prediction: BTC under pressure, ETH loses key support, XRP momentum weakens

Bitcoin, Ethereum, and Ripple remain under pressure on Wednesday after falling slightly the previous day. BTC trades below $63,000, ETH slips below $1,700, while XRP momentum continues to weaken. The deteriorating price action in these top three cryptocurrencies suggests a potential continuation of the near-term correction.

Crypto Market Overview: Bitcoin loses $63,000 amid tech sell-off – WLD, VVV tokens lead losses

Bitcoin (BTC) edges below $63,000 at press time on Wednesday, amid a global sell-off of tech stocks, including AI and chip stocks. The broader crypto market recorded $550 million in total liquidations, primarily driven by long liquidations, suggesting sell-side dominance, with Worldcoin (WLD) and Venice Token (VVV) leading losses.

Bitcoin: Recovery hopes fade after the Fed spoils the party

Bitcoin (BTC) is set to end the week in the red, trading near the 200-Week Simple Moving Average (SMA) at around $62,300 on Friday. Institutional selling persists, capping BTC’s recovery as spot Exchange Traded Funds (ETFs) point to a sixth consecutive week of outflows.