According to preliminary data, Shiba Inu’s (SHIB) game Shiba Eternity received a huge positive response. Also, SHIB holders have reached a new milestone. Uniswap Labs recently successfully completed its funding round. According to the analyst, $7 is possible for UNI. Professor Jeremy Siegel of the University of Pennsylvania predicts bullish for Bitcoin (BTC).
Shiba Eternity has reached a major milestone
Last week, the Shiba Inu team released the Shiba Eternity game on Android and iOS platforms. After the initial testing phase in Vietnam and Australia, the Shiba Inu launched the game worldwide. Initial test reports show that the Shiba Eternity Collectible card game has received a huge response.
On Android, Shiba Eternity has been downloaded more than 100,000 times worldwide. The game received a score of 4.6 out of 11,500 reviews from users. According to the Shiba Inu team, Shiba Ethernity is one of the most complex collectible card games ever released. The game allows users to choose from 10,000 Shiboshi heroes and 500 collectible cards among many other things.
The Shiba Eternity game was already available on iOS since September 6 before it came out on Android. The game managed to make a sound among Apple users there, too. In a very short time, Shiba Eternity entered the list of 20 most downloaded games on the Apple App Store.
SHIB holder count hits all-time high
While the Shiba Eternity game continues to gain some traction, another service called CryptEye reports that SHIB holders have reached a new milestone. In the last month of September 2022, the Shiba Inu added over 100,000 new SHIB holders. As of now, a total of 2,203,375 users hold the SHIB meme coin.
Since the launch of the Shiba Eternity collectible card game, another 10,000 users have joined the Shiba Inu ecosystem. On the day Shiba Eternity was released, there were more than 2,200 user logins. Over the past month, the Shiba Inu (SHIB) cryptocurrency has been under selling pressure. Because of this, it lost more than 10% of its price.
Uniswap Labs completes successful funding round
cryptocoin.comAs you follow, Uniswap Labs has recently successfully completed its funding round. Perhaps it will be a key driver for the predicted bull rally for the cryptocurrency. Motivated by its goal of expanding its offerings, Uniswap Labs pulled all the strings it could. Thus, it raised $165 million at the Series B fundraising event.
The funding round pushed the firm’s valuation to $1.6 billion. The round was led by Polychain Capital, while loyal supporters such as a16z crypto, SV Angel, Variant, and Paradigm attended.
Uniswap (UNI) going for $7?
Crypto analyst Christian Encila looks at the altcoin’s technical picture and shares the following analysis. Uniswap is not looking good right now. UNI needs to gather enough energy to gain momentum and hit its target. Uniswap’s key support levels are at $5.7 and $5.2. It is possible for the UNI price to go up to $7. In fact, an increase of $8 is quite possible.
However, a breakdown below the support mark is still possible to start a long downtrend. At press time, the coin is trading at $6.20. It is currently declining in intraday, weekly and monthly periods. The daily time chart shows the altcoin incorporating itself into an inverted head and shoulders pattern. This means that it puts itself in a good position to start a bullish rally.
Traders need to keep their eyes open for two key support levels for Uniswap, $5.7 and $5.2, as these are key points for buyers to initiate and sustain a price recovery. Due to the nature of the current price model, a 10.6% jump is possible for UNI. Thus, it is likely to eventually reach the $7 level.
There is an even better scenario for Uniswap. Because if the buyers are successful in attempting to maintain the $5.66 support level and move to the $7 mark, it is possible for UNI to see an accelerated rise to $8. Still need to be careful. Because a drop below the $5.2 support destroys all hope for the aforementioned price rally. Thus begins the prolonged downtrend for Uniswap.
Will Bitcoin (BTC) increase by 30%?
Professor Jeremy Siegel of the University of Pennsylvania believes the stock market is currently undervalued and will rise between 20-30% next year. He also says the Federal Reserve has dampened market enthusiasm. The crypto market is strongly correlated with the overall stock market. Bitcoin in particular has a strong correlation with the tech-focused NASDAQ-100. According to Coinbase Research, the beta of crypto assets in relation to the overall stock market is 2. In simpler words, crypto will have twice as much price action than the broader market. In this way, Bitcoin reacts similarly to tech stocks or oil.
Coinbase research highlights that the crypto winter is more about the macroeconomic outlook than the crypto industry. The Fed’s hawkish stance and raising interest rates caused a massive sell-off in the crypto market. However, this stance of the Fed brought with it the risk of recession. According to Siegel, the risk of recession outweighs the cost of inflation in the economy.
He also emphasizes that if the Fed follows long-term trends, the Fed will soon change direction. According to him, it takes time for a central bank rate hike to work. Siegel has always been bullish on the stock market. But he is not the only one who believes that the crypto market will skyrocket in the long run. According to Siegel, Bitcoin will rise if the Fed stops interest rate hikes or pivots. He also notes that the Fed will soon change direction. However, his view contradicts that of the central bank.
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