Shiba Inu (SHIB) price enjoyed an external tailwind that was very much welcomed, seeing the steep decline SHIB underwent. Since mid-April, SHIB nearly traded only one way to the downside, breaking several support levels along the way. With the tailwind, a bullish pop got sparked and might see some more follow-through in the coming days.
Shiba Inu price was long decoupled from the rises and falls of the stock markets as it was trying to break out of its crypto winter. That was until Tuesday evening when earnings from Microsoft and Alphabet, parent of Google, pointed to some strong numbers. What stood out was that Alphabet did not have any sharp declines in its publicity revenues, which is often the first element that companies cut when fearing a recession.
Ethereum network’s successful completion of the Shanghai upgrade fueled optimism in the ETH holder community. The next big upgrade to look forward to is proto-danksharding or Ethereum Improvement Proposal (EIP-4844).
EIP-4844 is the first prototype of proto-danksharding, a concept that boosts the Ethereum blockchain’s scalability by splitting it into smaller pieces. Ethereum network went through a series of changes bundled in the Shanghai and Capella upgrades, together known as “Shapella.” After the successful implementation of Shapella, the Ethereum network is heading towards a scalability upgrade through a concept referred to as “proto-danksharding.”
Litecoin price shows signs of an emerging uptrend on the four-hour chart. While a minor retracement might be likely, the larger trend is bullish for LTC. Additionally, the altcoin will undergo the third halving event on August 5, which will split its block rewards from 25 to 12.5 LTC.
Typically, halving creates a negative supply shock – where the supply declines but the demand either remains the same or increases. The result of this change can be seen in the underlying asset’s price. In LTC’s case, Litecoin price will likely note a stark increase.
