Cryptocurrencies Price Prediction: Chainlink, Bitcoin & Shiba Inu – European Wrap 18 September
Chainlink’s supply on exchanges has climbed with 18.75 million tokens hitting centralized exchanges like Binance. This represents $100 million worth o...
- Chainlink's supply on exchanges has increased with 18.75 million tokens being deposited on centralized exchanges like Binance, potentially leading to selling pressure and a decline in price.
- Despite this, the price of LINK has rallied 7% in a day and 9.5% over the past week, with a significant increase in on-chain activity.
- The overall crypto market has gained 3% in the past week, reaching a market capitalization of $1.06 trillion, driven by increased buyer interest and a dip in tech giants.
- There are indications of a potential correction in Bitcoin's price, with recent optimism suggesting a recovery to around $27.5K.
- Shiba Inu, a meme coin, shows signs of price recovery with large volume transfers of 1.52 trillion SHIB tokens in the past 24 hours.
The sentiment in the article is mixed. While there are positive indicators such as the rally in LINK price and increased buyer interest in the crypto market, there are also concerns about selling pressure, potential price decline, and the need for a correction in Bitcoin's price.