Investors Ponder Buying the Dip in Shiba Inu (SHIB) and Filecoin (FIL), Yet an Unexpected Altcoin Hints at Outshining Both

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As we delve into the crypto market this Tuesday, the landscape presents a mixed bag of trends: Bitcoin, the big kahuna of crypto, is holding steady with a slight dip under 1%, while, over in the altcoin corner, Ethereum is playing a bit of a tug-of-war; it’s been flirting with the $2,100 mark, but keeps slipping back to around $2,000, making it a nail-biter for those watching its every move. The broader market isn’t exactly in party mode either, with the global cap hovering just over $1.41 trillion, down a smidge by 0.6% in the last day. And with the fear and greed index chilling at 69, it feels like everyone’s waiting for the other shoe to drop. 

Altcoins like Shiba Inu (SHIB) and Filecoin (FIL) are feeling the heat, too, dipping by nearly 1% each. But here’s where it gets interesting: Step App (FITFI), leading the move-to-earn scene, is turning heads and how! Despite a jarring 12% drop on the day, FITFI has been on a bit of a hot streak, climbing 5% over the last week and a whopping 53% in the last fortnight. It’s like watching a comeback kid in action – in the race against time and trends, the November run of FITFI is stealing the spotlight, outpacing the 1% month-to-date growth of SHIB and nearly neck-and-neck with 18% of FIL. 

With its rock-solid economy, returns that make you do a double-take, a squeaky-clean rep in the market, and some celebs giving it a thumbs up, Step App (FITFI) has got the crypto world buzzing. And with the current retreat of altcoins, whispers in the crypto circles suggest this might just be the golden chance to grab some coins on the cheap before the much-talked-about altseason kicks in.

Imagine a world where your daily run or walk not only boosts your health, but also your virtual wallet. With Step App, your regular jog can net you anywhere from 5$ to 50$ per session! As the first move-to-earn application that empowered fitness with AI-assisted workouts, Step sets a new standard in the FitFi realm. Bolstered by its stable economy and lucrative ROI for users, the project caters to health enthusiasts and crypto fans alike, regardless of their experience with Web3. Injecting a burst of star-studded excitement, Step App basks in the glowing endorsements of legendary athletes like Usain Bolt, propelling its esteemed market reputation to even greater acclaim.

Transform Your Steps into Tangible Rewards with Step App

In Step, managing your earnings is effortless and subscriptions are available to further personalize your in-app experience and amplify rewards. Here, the magic lies in the FITFI and KCAL tokens – central to the app’s vibrant, contest-filled community and its continuous innovation, they hold potential for appreciation over time. Whether it’s upgrading your workout gear with KCAL or unlocking exclusive features with FITFI, these tokens are ready to enhance your fitness journey. In the run-up of 2024, Step is gearing up to unveil even more exciting features and airdrops, ensuring that both the community and the value of its tokens keep thriving.

Source: TradingView

Step App (FITFI) is at a pivotal point in its trading, with the current price nestled between initial support at $0.003168 and resistance at $0.007027. The bullish scenario is hinted at by technical indicators: the 10-day Simple Moving Average (SMA) at $0.007301 suggesting upward momentum, and the 100-day SMA at $0.00455 reinforcing this positive outlook. The MACD level at 0.000757 and the RSI of 54.96 further support this optimism, indicating a growing, but not yet exhausted buying interest. If the ongoing trend continues, FITFI could break through its immediate resistance and potentially test higher levels, with $0.008949 as the next key milestone and $0.012808 as the more ambitious target. This upward trajectory is contingent on the app’s ability to capitalize on its anticipated features and activities slated for 2024, which are expected to spike user engagement and enhance token value.

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Shiba Inu (SHIB), the crypto darling known for its wild swings, is currently walking a tightrope; despite a jaw-dropping 444,000% surge in its token burn rate on November 27, it’s struggling under some bearish clouds. This token burning frenzy, aimed at slashing its massive 589 trillion SHIB supply, is a bold move. It’s like playing a high-stakes game where the prize is boosting the value of Shiba Inu (SHIB), with eyes on the dream of hitting the $1 mark. But here’s the catch: SHIB is currently juggling between the support level at $0.00000685 and the resistance at $0.00000848, making it a hotbed of speculation.

Source: TradingView

Diving into the nitty-gritty of the Shiba Inu (SHIB) technicals gives us a mixed bag: its trading price is hovering above $0.000008, and the moving averages (10-day at $0.007301 and 100-day at $0.00455) hint at a bullish vibe; but the MACD level is barely a blip at 0.00000006, and the RSI, lounging at 49.36, doesn’t exactly scream confidence. The real kicker is the dipping trading volume – a crucial heartbeat of the market. This drop is setting off alarm bells, whispering tales of cooling interest or investor nerves, potentially putting a damper on the big token burn party.

So, what’s next for Shiba Inu (SHIB)? If the bulls take charge and the market buzz picks up, we could see SHIB leapfrogging past the $0.00000848 resistance, eyeing higher playgrounds at $0.00000918 and even $0.00001081. But, if the bearish vibe lingers and the market stays shy, that ambitious token burning could end up like fireworks in the rain, struggling to light up the sky.

Filecoin (FIL) is in the midst of some interesting times, thanks to a bit of drama in the crypto world; the SEC has thrown a curveball at Kraken, accusing it of running an unregistered securities exchange and getting a bit too cozy with customer funds. This legal tussle isn’t just a Kraken thing though – it’s put the spotlight on several cryptos, including FIL, which the SEC is eyeing as potential securities. This mix of legal drama and regulatory rumbles has everyone keeping a close eye on Filecoin (FIL) and its crypto buddies like Cardano, Polygon, and Solana.

Source: TradingView

Technically speaking, FIL has been doing the tango between the support level at $3.3 and the resistance point at $4.518. The numbers are giving off some cautiously optimistic vibes: the 10-day SMA is at a neat $4.58, just teasing above the current price, suggesting things might be looking up. And with the 100-day SMA chilling at $3.67, below our current level, it’s like a little nod saying that we might be onto something good here. The MACD and RSI are sitting at 0.111 and 49.56, respectively, hinting that the market’s in a pretty balanced state with a slight lean towards the bulls.

And what the future holds for Filecoin (FIL)? Well, there’s a bit of a fork in the road. On the sunny side, FIL has got this cool double-bottom pattern shaping up, which has the crypto crowd buzzing about a price jump to the even higher resistance at $5.392 by 2024 – a real treat for those holding onto the altcoin. But, we can’t ignore the clouds on the horizon; the SEC’s hawkish eyes on Filecoin (FIL) could stir up some storms, especially if they slap the ‘security’ label on it. That could mean more hoops to jump through and a bit of market jitters, potentially nudging FIL towards those lower support levels at $2.77 and $1.9.

In the crypto world’s rollercoaster ride, tokens like Step App (FITFI), Shiba Inu (SHIB) and Filecoin (FIL) are making their own waves; Step App (FITFI) is more than just a trendsetter with its move-to-earn concept; it’s showing real grit in a topsy-turvy market – its charts and upcoming features hint at a bright future, marrying fitness with financial gains in an exciting way.

Then there’s Shiba Inu (SHIB), the little token with big ambitions; it’s caught in a tug-of-war between its bold token burning strategy and the market’s moody swings – the big question is whether it can use this strategy to leap over market hurdles. Over at Filecoin (FIL), it’s a dance between promising technicals and the looming shadow of SEC scrutiny; as it sways between highs and lows, the asset’s journey is a reminder of how in the crypto realm, thrill and risk are often two sides of the same coin.

Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.