Despite a recent 11.6% dip in the broader crypto market, Shiba Inu (SHIB) holds steady at $0.00002417, poised for a 30% upswing by April's end. Analyst Maximilian identifies key drivers behind SHIB's resilience, pointing to a surge in trading volume, bolstered investor confidence, and technical indicators hinting at a potential bullish rally.

Meanwhile, in the wake of Bitcoin's halving, savvy investors are eyeing Marathon Digital and Coinbase Global as promising crypto stocks. Both companies showcase impressive growth trajectories and strategic moves to capitalize on the evolving cryptocurrency market.

Surge in Trading Volume and Investor Confidence Boost SHIB Amid Market Fluctuations

Trading volume has also increased significantly. SHIB's trading volume increased by 164% in 24 hours, totaling $1.2 billion, or 8.41% of its market capitalization. In addition, SHIB's derivatives volume has increased by 201% to $369.97 million. This has occurred despite a decrease in open interest to $66 million, per Coinpedia report.

Furthermore, the confidence of Shiba Inu investors has remained high. Over 12,000 addresses contain at least 1 billion SHIB tokens! According to data from IntoTheBlock, 73% of SHIB investors have held their tokens for more than a year, indicating a long-term commitment despite short-term market fluctuations.

SHIB Analysis: Major Wallet Holdings Signal Confidence Amid Technical Challenges and Shibarium Growth

Most addresses hold between 1 billion and 10 billion SHIB, while a smaller number of addresses (around 51) hold between 1 trillion and 100 trillion SHIB tokens. These larger wallets, which hold billions in cumulative balances, clearly demonstrate confidence among major SHIB holders.

From a technical standpoint, SHIB has struggled to reclaim the $0.000028 price level and is currently trading key moving averages such as the 50-day and 200-day EMAs. These indicators and a shift to self-custody methods reduce immediate selling pressure, suggesting a potential bullish rally.

Advancements in SHIB's layer-2 scaling solution, Shibarium, also contribute significantly to the company's potential growth. Shibarium is experiencing increased activity, and the burn rate of SHIB tokens is increasing. This demonstrates that the community's efforts to create SHIB tokens are becoming scarcer over time.

Crypto Market Rebound: Bitcoin ETF Approval and Halving Renew Investor Interest, Spotlight on Marathon Digital and Coinbase

After a decline in 2022, the cryptocurrency market shows signs of recovery. The SEC's approval of Bitcoin ETFs and the upcoming Bitcoin halving are key factors contributing to its revival. These factors have renewed investors' hope and interest in the cryptocurrency market.

As the market evolves, it is prudent to consider investing in promising crypto companies that will grow alongside it. That is why Marathon Digital and Coinbase Global are attractive options right now.

Marathon Digital

Marathon Digital, North America's leading Bitcoin miner, has experienced impressive growth, producing over 12,800 Bitcoins in 2023—a 210% increase from the previous year. Marathon is moving forward despite facing challenges from inclement weather early in 2024.

By relocating some miners to Texas and expanding operations, Marathon hopes to strengthen its position in the Bitcoin mining industry. Analysts predict Marathon's revenue will grow at a steady 35% per year from 2023 to 2026, making it an appealing option for investors looking to capitalize on the cryptocurrency market's growth.

Coinbase Global

Coinbase Global, a major player in the cryptocurrency exchange world, manages an impressive $101 billion in assets and serves as the custodian for some Bitcoin spot price ETFs. Despite a decrease in total trading volume in 2023, Coinbase experienced positive trends in the third and fourth quarters as the cryptocurrency market regained momentum.

To diversify its revenue streams, Coinbase is increasingly relying on stablecoins like Tether, which may reduce its reliance on volatile assets such as Bitcoin and Ethereum. Analysts predict consistent revenue growth for Coinbase, with a 21% annual increase from 2023 to 2026 and a 40% increase in adjusted EBITDA.

Though Coinbase's stock isn't cheap right now, its promising growth potential in the expanding cryptocurrency market makes it a good investment. Notably, Cathie Wood of Ark Invest ranks Coinbase as a top holding in several ETFs, indicating her belief in its future.

As the cryptocurrency market evolves and gains mainstream acceptance, investors are increasingly looking to companies like Marathon Digital and Coinbase Global for exposure to this growing sector.

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