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Crypto news and price analysis for Terra (LUNA), Loom Network (LOOM) and Shiba Inu (SHIB)

Crypto news: what is the price performance of the coins Terra (LUNA), Loom Network (LOOM) and Shiba Inu (SHIB)? See below for an overview of the latest news and some future predictions. 

LUNA crypto price: comparison with LOOM and Shiba Inu 

According to the latest data, the value of crypto Terra (LUNA) is about US$0.409712, with trading volume in the past 24 hours reaching US$17,079,040.64. 

This represents an increase of 0.98% in the last 24 hours and a decrease of 3.92% over seven days. With a circulating supply of 400 million LUNA, Terra’s market capitalization is $164,489,132.

In addition, over the past 24 hours, Terra’s (LUNA) trading volume was $17,078,787, marking a remarkable 125.00% increase over the previous day and indicating a recent increase in market activity.

Recall also that the lowest price recorded for Terra (LUNA) was $0.377574 on 21 September 2023, which was twenty-four days ago. In comparison, the current price is 8.47% higher than the recorded low.

However, Terra (LUNA) has seen a 3.90% decrease in its price over the past seven days, resulting in underperformance compared to the global cryptocurrency market, which has posted a 3.10% decline. 

In addition, Terra is underperforming similar currencies to ‘Alleged SEC Securities,’ which have declined 3.50%.

Finally, we see that the community shows predominantly negative sentiment, with over 60% of users being pessimistic about Terra (LUNA).

Rounding-Bottom pattern of LOOM predicts a possible bullish rally

In the crypto market, where uncertainty is always present, LOOM recently completed a Pattern Rounding-Bottom, which could suggest a potential prolonged bullish trend. 

Since early September, the price of LOOM has experienced a remarkable parabolic rally, rising from a low of $0.037 to $0.35, an increase of 855%. During this surge, the price broke through key resistance related to a long-standing rounded bottom pattern, suggesting further positive prospects for this altcoin.

LOOM Network has demonstrated superior performance compared to many of the major cryptocurrencies in recent months. On 12 October, the price made a decisive break above the neckline resistance at $0.248, a significant event.

This rounded bottom chart pattern is often relevant in market lows and suggests a possible trend reversal. Furthermore, the fact that this pattern has developed for over 900 days emphasizes its potential impact.

Currently, the price of LOOM is trading at about $0.365, with an intraday gain of 5.86%. According to the theory of this pattern, the potential target is the same distance between the bottom resistance and the neckline, measured from the breakout point.

Therefore, with a continued bullish trend, the price could rise 27% further to reach $0.468. 

It is important to note that this fast growth may require a correction, as such aggressive buying often requires pullbacks to consolidate positive momentum

Hence, these pullbacks could retest previous support areas and offer buying opportunities for those who follow the market closely.

Rising profitability for Shiba Inu: price of SHIB reaches crucial level

Recent data provided by IntoTheBlock regarding crypto Shiba Inu reveals a slight increase in its profitability as SHIB’s price settles on a key point.

IntoTheBlock’s on-chain analytics platform evaluates addresses and tokens to provide an overall view of the profitability of a given crypto asset. 

This evaluation ranks addresses based on whether they are making profits (in the money), breaking even (at the money) or incurring losses (out of the money) on their positions at the current price. 

This is done by calculating the average cost of an address based on the weighted average price at which the tokens currently held were acquired.

In this context, Shiba Inu’s profit-making addresses have increased from the 7% achieved during last week’s massive selling period to the current 9%.

Since 11 October, Shiba Inu has been in positive territory for three consecutive days, reaching a peak of $0.00000711 on 14 October. Currently, SHIB is maintaining its gains and is up about 1.04% in the past 24 hours, with a price of about $0.000007.

Supporters of the bullish trend are working hard to maintain the $0.000007 level: if they succeed, SHIB could target the next resistance at $0.0000074, which corresponds to the 50-day moving average.

On the other hand, SHIB could be subject to a retest of the $0.0000067 level if bearish pressure returns.

Meanwhile, the Shiba Inu token burn continues, with steady activity. According to Shibburn, a total of 13,339,085 SHIB tokens have been burned in 23 transactions in the past 24 hours. In the past seven days, 278,909,750 SHIB tokens have been burned in 159 transactions.

Alessia Pannone
Alessia Pannone
Graduated in communication sciences, currently student of the master's degree course in publishing and writing. Writer of articles from an SEO perspective, with care for indexing in search engines.