Shiba Inu On Fire: SHIB Community Braces for Epic Zero Deletion Event!

Published 5 days ago3 minute read
David Isong
David Isong
Shiba Inu On Fire: SHIB Community Braces for Epic Zero Deletion Event!

The cryptocurrency market begins a new week with a mixed pattern where capital flows and price movements often diverge, and major assets appear to operate on separate cycles. While Bitcoin maintains its late-November base and Ethereum shows signs of recovery, XRP has taken a price hit despite significant institutional inflows. Meanwhile, Shiba Inu is forming a clean low-range structure, prompting speculation about its next major move. This complex interplay defines the current market landscape.

Institutional interest in XRP has surged sharply, with CoinShares reporting $244.7 million in new inflows into XRP-focused investment products—far outpacing Ethereum's $39.1 million. This represents a 625% spread, signaling a clear preference among allocators even as XRP’s price fell nearly 4.8%, while ETH gained about 3.8%. Such decouplings between flows and price rarely persist, suggesting an eventual market adjustment, especially given XRP’s history of sudden, aggressive rebounds.

Adding to the momentum, Bitwise’s XRP ETF is now available to Vanguard clients, an important development considering Vanguard’s long-standing conservative stance and prior refusal to offer crypto products. Technically, XRP is defending a crucial $2.00–$2.10 support zone, with sellers losing steam and the asset positioned for a potential bounce. Immediate resistance lies between $2.16 and $2.20, followed by the 50-day moving average at $2.28, and a mid-channel target around $2.40–$2.45 if bullish momentum strengthens.

Bitcoin has seen robust inflows totaling $352 million, accompanied by $18.7 million in outflows from short Bitcoin positions, indicating reduced bearish exposure. MicroStrategy CEO Phong Le reaffirmed the company’s long-term strategy of not selling any Bitcoin until 2065, emphasizing the firm’s position as a leveraged Bitcoin proxy with 650,000 BTC held at an average cost of $74,431. Le added that MicroStrategy maintains ample liquidity to support its strategy.

Bitcoin’s price has reclaimed the mid-range, trading around $92,000 after solid support at the $89,000 level. However, veteran trader Peter Brandt warned of a possible deeper correction, comparing the current cycle to previous phases that preceded parabolic rallies toward $200,000–$250,000. For now, BTC’s upside trigger sits near $94,300, while breakdown confirmation is positioned around $84,400.

Ethereum, despite a late-week recovery, recently faced a significant network outage. A bug in the Prysm consensus client caused approximately 23% of the Ethereum network to go offline, prompting the Ethereum Foundation to advise Prysm users to reconfigure their consensus-layer nodes. Other clients remained unaffected, and Prysm quickly identified the bug and released a workaround.

Post-selloff, Ethereum appears to be stabilizing, having formed a durable local floor around $2,800. Bearish momentum has eased, with ETH pressing against its 20-day moving average while consolidating just below $3,100. Trading volume has normalized, and the RSI hovering in the mid-40s suggests a shift from breakdown conditions to stabilization and a cautious early-stage recovery.

Shiba Inu (SHIB) recently broke free from an exhaustion pattern, posting an unexpected 11% gain over the past 10 days in December, despite a market sentiment characterized by broad caution and reduced risk appetite, indicating that SHIB may be building strength for a more decisive move as liquidity returns to the meme-coin sector.

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