HomeDeFiNews and price analysis for crypto assets Shiba Inu, Ecoterra and Pepe

News and price analysis for crypto assets Shiba Inu, Ecoterra and Pepe

In this article we look at the latest relevant news and a price analysis regarding the crypto assets Shiba Inu (SHIB) Ecoterra (ECOTERRA) and Pepe (PEPE).

What is there to observe in the crypto market today?

All the details below

The latest news for the crypto assets Shiba Inu, Ecoterra and Pepe

Starting with news related to the Shiba Inu crypto, it is interesting to mention the latest developments regarding the Rocket Pond metaverse, which is expected to serve as a central hub for the memecoin community.

In particular, a trailer has been released on the memecoin’s official profile that shows what the virtual world of the shib dog will look like.

The video showcases some of the structures that will be central to the metaverse such as Lake Tahoe, Cape Canaveral, and Heavenly Village.

While the community is abuzz after the trailer was released, the team has not yet announced a date for the actual launch of Shiba Inu’s virtual hub.

As for Ecoterra, a blockchain project that lays its foundation on environmental friendliness, the only relevant news concerns the developments in the presale of the ECOTERRA token, which has been going on for weeks now.

The team has raised more than $4.8 million and is now in the penultimate round of the presale, which will end upon reaching the $6.7 million goal.

Finally speaking of Pepe, there does not seem to be any news to speak of.

However, we can mention the disappointment shown by the crypto meme in a tweet showing the frog bored by the SEC’s accusations against crypto exchanges, particularly Coinbase.

Please Gary Gensler, stop it! even Pepe is tired of your lawsuits.

Price analysis of crypto assets Shiba Inu (SHIB), Ecoterra (ECOTERRA) and Pepe (PEPE)

Let’s now see what the price action is for the 3 cryptocurrencies.

Starting with (SHIB) we can see how the memecoin that resembles the Japanese dog shiba inu is not really doing well at the moment.

Prices are trapped in a bearish channel that has continued undisturbed since mid-April, with no attempts to reverse the trend.

Bearish directionality in the medium term began in detail since February, when the asset registered a double-tap on the RSI with relative divergence in prices.

In the long term, however, the cryptocurrency has been dumping now since November 2021 and has not, with two exceptions, returned above the 10-period moving average on a weekly time frame in a stable manner.

SHIB currently trades at a price of $0.00000793 per token with a capitalization of $5 billion and volume in the last 24 hours of $68 million.

Now that prices have fallen quite a bit in recent months and the RSI is in a dump zone, we might expect a brief recovery, but the directionality is still blatantly short.

Daily price chart of Shiba Inu (SHIB/USDT)

As for Ecoterra, there is not much to say: the crypto that aims to redevelop the environment with its blockchain-based app is still in the presale phase.

What is pretty much a foregone conclusion is that at the time of listing there will most likely be a mega dump, as the cryptocurrency has been on sale for several weeks, so investors are just waiting for the chance to unload their position and draw profits.

ZERO confidence in this shitcoin, at least for the time being.

Finally regarding PEPE, the most beloved crypto meme of 2023, the situation is very uncertain.

After the phenomenal pump that took the cryptocurrency from 0 to more than $1 billion marketcap in just two weeks, a fairly predictable phase of price distribution has begun.

Any such rise is necessarily followed by a long period of physiological decline.

However, PEPE has responded well speculatively to the charges of the SEC against Binance and Coinbase in recent days, recovering from the dump of 6 June.

Moreover, the frog has not been identified by the federal agency as a financial security product, so it may continue to be traded in the US in the coming months.

In the medium term, the odds are still in favor of the downside, however in the short term we could expect some surprises.

At the moment the crypto has a price of $0.00000111 with a capitalization of $438 million and a trading volume of the last 24 hours of $108 million.

Daily graph of the price of Pepe (PEPE/USDC)

Pay attention to these 3 crypto assets

Attention should be drawn to the danger and instability that all 3 crypto assets just mentioned underlie.

PEPE and SHIBA INU are two memecoins with no intrinsic value and with a value that fluctuates only according to the public’s attention paid to these products.

There are no interesting technologies to talk about nor infrastructure useful for anything but solely the brand.

No denying that this asset class is revolutionizing the way memes are understood in the Web3 world and gaining increasing notoriety, but it is critical to understand the risks behind it.

In times of market instability and economic uncertainty, memecoins are the first to be affected speculatively, being classified by investors as risk-on financial products.

Cryptocurrencies in general represent highly speculative assets, but in the case of meme-based cryptocurrencies, we are on astronomical levels of speculation and riskiness.

Not to mention Ecoterra, a cryptocurrency that failed to raise even a banal $6.7 million in so many weeks, demonstrating little public attention.

If this is the project that is supposed to save the environment through the use of blockchain, then good luck.

Much larger resources and much more structured companies are required to aspire to such goals.

For now, Ecoterra looks like yet another crypto created to make the founders rich by plundering the last buyers who execute the buy on listing.

CAUTION folks, be wary of this cryptocurrency.

Much better to concentrate your efforts by going in search of some tokens belonging to already broken ecosystems, which by the time the markets recover, could give us great satisfaction.

In this regard, the most interesting infrastructures of the moment belong to the universe of zk rollups, much discussed in recent months and under development for several years now.

ZkSync, Starknet, Mantle, Optimism and Arbitrum represent just a few of the ecosystems that integrate zero-knowledge cryptographic proofs.

Do your research on the protocols within these chains and explore the interoperability Layer Zero aims to provide between now and the next few months, rather than delving into the danger of shitcoins.

Do your own research (DYOR) traders.

Alessandro Adami
Alessandro Adami
Graduated in "Information, Media and Advertising", for over 4 years interested in the cryptocurrency and blockchain space. Co-Founder of Tokenparty, community active in spreading crypto-enthusiasm. Co-founder of Legal Hackers Civitanova marche. Information technology consultant. Ethereum Fan Boy and supporter of Chainlink oracles, strongly believes that smart contracts will be central in the development of society.