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Crypto Market Update: BONK and SHIB Price Analysis, Oracle Extractable Value Solution, and More

Crypto Market Update: BONK and SHIB Price Analysis, Oracle Extractable Value Solution, and More thumbnail
Arjun Verma's Avatar
Arjun Verma 1:30 AM 10 Jul 2024

Crypto Market Update: BONK and SHIB Price Analysis, Oracle Extractable Value Solution, and More

Welcome to our latest crypto market update! In this edition, we will be discussing the recent price movements of BONK and SHIB, as well as the introduction of a solution for oracle extractable value. Let's dive in and explore the exciting developments in the crypto world.

BONK Price Analysis

BONK, the popular meme coin, has been showing strong momentum in its uptrend. Currently trading at $0.00002624, BONK is expected to continue its upward trajectory. Technical analysis suggests that the coin could potentially reach $0.00003006, which is the 50% Fibonacci retracement level. This level is calculated based on the coin's drop from its March 4 peak of $0.000048 to the April 13 low of $0.000012.

The Relative Strength Index (RSI), a momentum indicator, stands at 55.46, indicating positive momentum in BONK's uptrend. This suggests that there is room for further gains in the coin's price.

SHIB Takes Flight in the Travel Industry

Exciting news for SHIB holders! Block Travel, a global travel agency, has announced that it now accepts SHIB as a form of payment for flights, hotels, and more. This development opens up new opportunities for SHIB holders to use their tokens for real-world transactions. If you're a SHIB investor, let us know in the comments where your dream Shiba travel destination would be!

Solution for Oracle Extractable Value

Introducing the solution to oracle extractable value (OEV) - the OEV Network. This network is now live and integrated with the API3 Oracle Stack, providing every lending protocol on supported chains with a built-in solution to recapture protocol MEV (miner extractable value).

This development is crucial for lending protocols, as it allows them to upgrade their oracles and mitigate the risks associated with MEV. With OEV Network, lending protocols can now operate more efficiently and securely, enhancing the overall ecosystem's stability.

Nodle Network's DePIN Infrastructure

Nodle Network has introduced its dePIN infrastructure, aimed at combating misinformation across the Elastic Chain. This infrastructure enables other ZK Chains to cryptographically verify digital content using ClickDeepReals. With this technology, Nodle Network is taking a significant step towards ensuring the integrity and authenticity of digital information.

These recent developments in the crypto market highlight the ongoing innovation and growth within the industry. As always, it is essential to conduct thorough research and due diligence before making any investment decisions.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. Investing in cryptocurrencies involves risk, and it is essential to do your own research before making any investment decisions. FXStreet and the author do not provide personalized recommendations, and all opinions expressed are solely those of the author.


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