This week, the cryptocurrency market is showing negative dynamics with several major tokens facing setbacks. Special attention is drawn to the situation surrounding Shiba Inu (SHIB) and XRP, as well as the growing interest in Cold Wallet.
SHIB Drops 9% Amid Price Decline
Shiba Inu (SHIB) has fallen by 9% this week, reaching a low of $0.00001276, its lowest price since July 10. This drop occurred even after a massive burn of 600 million tokens, pushing the burn rate up by 16,710%. Despite this, no strong recovery followed, and SHIB is now stuck between $0.000013184 resistance and $0.000012663 support, with no clear direction.
XRP Prepares for Breakout
XRP continues to trade in a tight band between $3.04 and $3.17, with a market cap of $185.2 billion and $5.3 billion in daily volume as of July 31. It attempted to break through the $3.179 mark but was rejected, which could indicate consolidation. A bounce back to $3.13 suggests easing selling pressure, but the XRP price outlook remains unclear.
Cold Wallet: Presale Success and Whale Interest
Cold Wallet, currently in Stage 16, has attracted significant investor attention, raising over $5.7 million. This unique wallet rewards users for active activities, making it appealing amid high transactional costs. The recent acquisition of Plus Wallet adds 2 million users, further highlighting the growing interest in the platform.
The situation in the cryptocurrency market remains tense, with SHIB continuing to lose ground despite recent burn measures. XRP faces a crucial resistance level, while Cold Wallet's success in attracting whales demonstrates that there are positive precedents, even in the current environment.
