While experts predicted all-time high crypto prices during the Christmas holidays and through the end of 2024 bearish takeover The opposite situation arose after the Fed’s sharp comments.
Bitcoin’s troubles continued, as prices fell from $99.2K on Boxing Day to $92.52K at press time. Altcoins endured similar trends.
Shiba Inu’s decreased burn rate signals potential struggles as XRP bears threaten the $2 barrier.
Meanwhile, attention has turned to the presale project iDEGEN Ahead of its January official listing.
iDEGEN is an AI-based cryptocurrency project that has caught the attention of investors over the past few weeks with its uniqueness.
It uses artificial intelligence to absorb and learn everything from the crypto community on X, formerly Twitter.
iDEGEN has sold over 1.44 billion tokens, and raised $11.12 million in its fast-paced ICO.
Let’s check out the prevailing price movements of SHIB, XRP and IDEGEN and what to expect in the year ahead.
SHIB’s future uncertain amid decline in burn rate of 90%
The second-largest meme token is trading at $0.00002059 after declines of 3.50% and 8.67% over the past day and week, respectively.
Shiba Inu displays significant bearishness, suggesting further downside before a potential bounce-back.
For example, its burn rate has fluctuated wildly recently, falling 90.70% compared to the previous day.
#Shiba InuIts burn rate has declined recently, forcing people to think about improving its value, especially when the market is all over the place. The burn rate is important for tokens like Shiba Inu because it reflects how fast tokens are being taken out of circulation.…
Token burns are deflationary mechanisms that crypto projects use to increase scarcity by reducing the supply.
However, these events have had limited impact on the price of Shiba Inu.
As 2024 comes to a close, questions will arise about whether token scorch initiatives can drive long-term success or whether overall market sentiment will prevail over burn efforts.
Furthermore, on-chain statistics show that whales’ activities stimulate SHIB’s price movements.
Whale transactions can be a double-edged sword when combined with increasing burn rates, speculative price activities, and increasing corrections.
Such dynamics remain important to shape Shiba Inu’s near-term outlook in the new year.
XRP rises above $2 amid bearish dominance
Dramatic jump in trading volume yesterday XRP could not be moved as the altcoin struggled around the psychological level of $2.
XRP surged more than 230% to a record peak of $2.86 following Trump’s election victory.
Meanwhile, alts have been consolidating since the beginning of December, failing to recover despite bullish developments like the RLUSD launch.
XRP trades at 2.02 with a 24-hour loss of 2.50%. The upcoming trajectory of Altcoins will depend on various factors.
Renewed trading activity in the coming sessions will likely keep XRP afloat until Trump’s inauguration.
After that, investors will focus on Ripple’s IPO, RLUD adoption, and regulations with the XRP ETF as catalysts for strong performance in 2025.
iDEGEN: Trending AI Token
While altcoins like Shiba Inu and XRP display uncertainty, iDEGEN emerges to disrupt the cryptocurrency industry.
The unique approach of the project attracts attention due to the merger of AI and blockchain sectors. Its website highlights that:
Whenever someone tweets on iDEGEN, its AI absorbs the data, uses it to learn, adapt, and then tweets every hour.
This model will likely attract large-scale participation, which will be critical to the long-term success of the asset.
iDEGEN is trading at $0.0314 after gaining 70% over the past seven days.
As a leader in the AI and blockchain revolutions, its market timing positions IDEGEN for strong growth through 2025 and beyond.
You can visit IDEGEN’s official website For more information on this low-cap gem with massive potential.
Post SHIB and XRP struggle amid Santa Claus fall; iDEGEN targets better performance in January first appeared on Invez
