In this article we will see what interesting things the crypto sector has in store for us, reporting the latest relevant news for the Cardano, Luna, and Shiba Inu projects.
Regarding prices, the recent Bitcoin rally has pushed many cryptocurrencies to significantly increase their value, but often with worse performance than the king of the crypto market.
How are ADA, LUNA, and SHIB performing graphically against BTC?
Let’s see all the details below.
Summary
The latest crypto news for Cardano, Luna, and Shiba Inu
Starting from the most interesting crypto news for Cardano, we can report the initiative with which the Foundation of the project has called the entire cryptographic community to vote to establish how the entire ecosystem should behave in the face of the presentation of the latest “Cardano Improvement Proposal” (CIP-1694).
The famous layer-1 blockchain entered the “Voltaire” era just a month ago, as established by the roadmap, and is preparing to become a fully self-sufficient system.
The goal of becoming a fully decentralized entity requires the introduction of an on-chain voting system feasible by users.
That is precisely why the Cardano community will be able to express their opinion in the coming days regarding what the Foundation has proposed in the CIP-1694 “Shaping Cardano’s Future: The Cardano Foundation’s Governance Commitment“.
All users who held a balance in ADA in a non-custodial wallet on November 21st at 21:44 UTC (snapshot date) will be able to participate in the voting process to shape the future of Cardano.
It seems highly likely that all token holders will vote in favor of this new milestone for the entire infrastructure.
As for Terra/Luna, the project is trying in every way to rebuild its reputation after the UST crash and the entire crypto ecosystem in May of last year.
Among the latest improvements made to the decentralized structure, we find the addition of the DYDX token within a liquidity pool on the URA DEX with an initial liquidity of 450,000 dollars.
This step is aimed at providing new token pairs in the DeFi of Luna, trying to offer day after day a more efficient and complete space, on which users can operate smoothly, without having to leave their boundaries to use other blockchains.
With the addition of DYDX, it has been announced in parallel that active support from the “Terra Station” wallet will be available, with the possibility of using the aggregator IBC to perform swaps with other cryptocurrencies.
Also worth mentioning is the latest news from the Bitget exchange, which has recently allowed its customers to purchase LUNA tokens directly with debit/credit card and WITHOUT FEES.
Finally, on the Shiba Inu front, we can only present the latest idea of the project, which aims to give more value to the community by offering successful products and services and interesting content within its own blog.
On this last aspect, we find it interesting to present the latest article published in “Shib Magazine” where 10 interesting stories from the crypto world that have happened from 2010 until today are listed.
Although the editorial efforts led by the Shiba Inu team do not immediately serve to attract hype and push the price of the crypto higher, they represent an extremely valuable asset because they contribute to elevate their own community.
For a memecoin like Shiba, relying on the strength of its action group is the only feasible solution for long-term mass adoption.
Trend of crypto ADA, LUNA, and SHIB against BTC
Now let’s move on to a purely speculative context and let’s observe how Cardano (ADA), Luna (LUNA), and Shiba Inu (SHIB) are performing graphically in the midst of the latest Bitcoin pump that has recently surpassed the psychological threshold of $40,000.
In these moments where the king of the crypto market takes a position and shows its muscles, if you want to analyze the altcoins, it is essential to observe their behavior in trading pairs against BTC and not against the US dollar and other FIAT currencies.
The ADA/BTC chart gives a good idea of how Cardano is moving in relation to the first cryptocurrency by market capitalization, with the currency of Charles Hoskinson that after a long bearish winter seems to want to return to dictate the law.
Yesterday, the crypto gained a great +4.76% while most other competitors recorded negative trends.
ADA has recently regained the 0.00001 sat level and could rise by a further 15/20% before a significant retracement occurs.
A situation like this where Bitcoin shows a lot of strength and Cardano follows with even better performance can only be a great sign for the cryptocurrency.
Next goal: overcome with determination the resistance at 0.0000105 sat and continue towards the main resistance at 0.000012 sat.
The LUNA/BTC chart also shows a noteworthy recovery for the former currency of Do Kwon.
Starting from mid-November, the crypto has recovered a lot of ground lost during the downturns of 2023, reaching two days ago the level of 0.00003 sat that hadn’t been touched since June.
The price increases are accompanied by good volumes, which give greater consistency to the movement and also pave the way for subsequent small rallies.
At the moment, the only thing that worries is a too extensive graphic condition for LUNA, with an RSI that indicates an overbought zone on a daily time frame.
In addition, we need to report the presence of a bearish divergence in which the RSI has reached three equal highs, but the price chart has marked a higher last high than the previous two.
Usually these situations tend to break downwards: this does not mean that LUNA will lose value against the dollar, and indeed, it could easily gain value, but it will probably offer worse performance compared to Bitcoin.
Finally, taking a look at the SHIB/BTC chart, we can easily understand how the trend is completely opposite compared to that of Cardano and Luna.
Shiba Inu compared to the most important cryptocurrency in the sector is offering a clearly bearish price action, with continuous appreciations since the beginning of the year.
Ignoring a brief period in February when the currency experienced strong pumps, for the rest of the time bears have taken control of the situation.
Currently, SHIB has a value of 0.00000000022 sat and despite a good recovery in volumes, the situation is expected to continue downwards for at least another 2-3 months.
Only when the dominance of Bitcoin will experience a significant collapse, we could celebrate a recovery of the entire altcoin sector, including SHIB.
For now, however, there is only the king to command.
In case of a sudden bullish impulse, the major resistance to be faced by SHIB is at 0.00000000036 sat.
