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Factors Driving Crypto Investors' Interest in Ethereum (ETH), Shiba Inu (SHIB), and Furrever Token (FURR) in 2024

Apr 5, 2024

The interest of crypto investors in digital asset projects is influenced by various factors, such as targeted sectors and promising returns. In the midst of a volatile market, Ethereum (ETH) and Shiba Inu (SHIB) are facing significant volatility, aiming to maintain their positions as market dynamics shift. On the other hand, Furrever Token (FURR) is said to have attracted attention and become a new symbol of crypto investor interest, as its presale raised a considerable amount of funds.

Crypto Investor Interest in ETH Amid Market Volatility

Ethereum (ETH) was recently trading around US$3,341, showing a slight 1 percent increase from the previous day. However, its price trend closely follows Bitcoin (BTC), especially dropping below the 50-day SMA on April 2 to around US$3,414. This similarity in trajectory with BTC indicates shared vulnerabilities to market shifts. Ethereum also faces challenges like the potential impact of ETF approval on their market stability. Increased scrutiny by the SEC could affect optimistic forecasts, increase volatility, and potentially cause sharp declines in ETH prices. Technical indicators reveal Ethereum's struggles, with the 20-day EMA declining towards US$3,493 and the Relative Strength Index (RSI) approaching oversold conditions. Failure to recover from Bitcoin could cause Ethereum to fall to US$2,700 if dropping below US$3,056. However, a rise above the 50-day SMA, currently at US$3,679, might trigger a bullish trend, targeting prices between US$3,679 and US$4,000, also reflecting crypto investor interest.

SHIB Price Analysis, Important Levels to Watch

Shiba Inu (SHIB) remains a key indicator of crypto investor interest, especially in the meme coin sector. Its price was observed to remain stable in the market, around US$0.00002684, showing minimal changes. Despite rallying in late March, SHIB struggled to surpass US$0.0000328, facing a 20 percent weekly decline to US$0.0000262 after a broader market correction. Having initially peaked in early March, SHIB has since entered a corrective trend, falling by 42.8 percent in a month and dropping below the 20-day EMA and 50 percent retracement level. Currently, SHIB is seeing a 1.1 percent price decline towards a critical support level, with potential for a 14 percent drop if it breaks below that level. The 4-hour chart indicates a consolidation phase, signaling a pause before a potential rally. The collective market value of meme tokens exceeding US$56 billion reflects their growing significance and changes in crypto investor interest. A breakout from this consolidation could lead to a renewed upward trend for SHIB, challenging previous highs once again.

Furrever Token (FURR) Features Cute Cat Images

Furrever Token (FURR) stands out in the fluctuating market, claiming to attract crypto investor interest by following the trend of meme coins featuring cute and adorable cat images. Recently observed, after completing half of their presale program, this crypto project claims to have raised over US$650,000 in a month, with nearly 4,000 active members.

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