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A New Era in Crypto Regulation: SEC and CFTC Hand in Hand
The world of cryptocurrency is entering a new regulatory phase in the U.S. The SEC and CFTC are joining forces to regulate digital assets more clearly. With Brian Quintenz becoming the Chairman of the CFTC and Paul Atkins potentially leading the SEC, a crypto-friendly approach is on the horizon. The two agencies plan to revive the Joint Advisory Committee, dormant since 2014, aiming for a common roadmap in classifying and regulating cryptocurrencies. These new leaderships target a regulatory environment focused more on policymaking, fostering innovation in the sector. These steps are part of the promises to make the U.S. a hub for cryptocurrencies. The SEC's Crypto Task Force and the CFTC's shift in regulatory approach signal a safer and clearer future for the crypto market.
Will Pepe Coin Drop Below $0.00001? Whale Sale Starts Fear
The U.S. Fed's 25 Bps rate drop sparked a second-half December cryptocurrency market slump. Meme currencies are volatile and susceptible to speculative trading, therefore negative momentum affected them more. Whale selling and bearish pattern building might cause a $0.00001 Pepe coin price meltdown.
According to CoinMarketcap , the meme market value is $105 billion and the 24-hour trading volume is $28 billion.
Key Highlights:
Double-top patterns might cause protracted corrections below $0.00001.
Crypto investors look for pullback support between $0.000017 and $0.0000128, the 100- and 200-day exponential moving averages.
Bearish Relative Strength Index divergence suggests Pepe coin price weakness.
PEPE Coin Price Decline May Follow Whale Exit
A notable whale shifted 150 billion PEPE tokens, worth $2.72 million, into Binance to avoid losses during a market drop. This follows the whale's November 28 withdrawal of 150 billion PEPE ($2.94 million) and 60 billion SHIB ($1.52 million) from Binance.
Lookonchain data shows the whale has unrealized losses of $219,000 on PEPE and $136,000 on SHIB. If PEPE keeps falling, the whale may sell more. Whale exits have often accompanied market declines and gloomy sentiment.
Bitcoin fell below $100k after Powell's hardline speech, intensifying the altcoin market downturn. In the previous 48 hours, the frog-themed Pepe dropped 22% from $0.000022 to $0.0000174.
A daily chart study of this correction indicates a double top reversal pattern. The chart pattern has two big reversals from the common resistance zone, forming a ‘M’.
A lower-high RSI indicator as the price peaks indicates a bearish divergence, indicating a loss of bullish power.
This position might cause the Pepe coin price to break the neckline support of $0.0000172, increasing market selling pressure. The asset may plunge 55% to $0.0000077 after the breakup.
Shiba Inu Coin (SHIB): Current Landscape and Future Prospects
Shiba Inu Coin, popularly known as ShibaCoin or SHIB, is an Ethereum-based cryptocurrency created in 2020 by an anonymous developer, known as "Ryoshi." Initially launched as a "meme coin" and often referred to as the "DogeCoin killer," SHIB quickly gained popularity and created a strong community. Here’s an overview of SHIB’s present landscape and what might be in store for the future. 1. Current Landscape of ShibaCoin SHIB is part of a larger ecosystem that includes other tokens like LEASH and BONE, which are intended to support the ecosystem’s decentralized exchange, ShibaSwap. Here’s a closer look at the coin’s current status: Market Performance: SHIB has shown high volatility, which is common among meme coins. While it had significant price surges in 2021, the price has fluctuated considerably due to market trends and speculative trading. Community and Social Impact: The Shiba Inu community has a strong online presence, with millions of followers and contributors. This has given SHIB a reputation for being community-driven, leading to increased attention and a wider base of support. Utility and Ecosystem: Unlike Dogecoin, Shiba Inu has built an ecosystem with ShibaSwap, NFTs, and staking options, adding some utility. However, it still lacks the robust functionality seen in larger blockchain projects.