According to Bloomberg Intelligence, BlackRock Bitcoin ETF has risen up the ranks to join the five ETFs in terms of inflows. Meanwhile, top analysts have forecasted bullish gains for the two altcoins, KangaMoon and Shiba Inu.
BlackRock Bitcoin ETF Among the Top 5 in Terms of Inflows
According to Bloomberg Intelligence data, the BlackRock iShares Bitcoin Trust (IBIT) has made significant moves in 2024. It has become one of the top exchange-traded funds (ETFs) by attracting inflows, making it among the top five ETFs.
This ETF has outperformed other funds, recording over $3.19 billion in inflows. Only broad index funds like those following the Vanguard Total Stock Market ETF and S&P 500 are above it.
In addition, Eric Balchunas, a senior ETF analyst at Bloomberg, tweeted more positive news lately. Eric Balchunas stated that the BlackRock ETF now ranks in the top 0.16% of the 3,109 ETFs available in the US.
Currently, Bitcoin prices fluctuate between $41,971.37 and $43,654.52. The coin’s price has seen price pumps of 0.7% and 7.8% on the 7-day and 14-day price charts.
Shiba Inu (SHIB) Price Prediction
Shiba Inu (SHIB), the second-largest meme coin and one of the top 20 cryptos by market cap, has been trading between a low of $0.00000846 and a high of $0.00001049 in the past month.
The DeFi coin has been battling with bears at higher price levels with little effort from bulls. Meanwhile, the bearish sentiment in the general crypto market has also contributed to the continuous price drops.
According to CoinMarketCap, Shiba Inu coin has dropped 1.1% and 2.0% on the 30-day and 7-day price charts, respectively. Still, the DeFi coin remained above the 200-Day SMA ($0.000008382).
Also, it has recorded 16 green days out of 30, which is more than average. As a result, analysts believe bulls still have the upper hand and predict a rise above the 50-day SMA ($0.000009600) in the coming weeks.
KangaMoon (KANG): Analyst Predicts 50x Price Surge
KangaMoon (KANG) has drawn the attention of both analysts and investors with its upcoming token presale. The presale for its native token, KANG, will begin at just $0.005, one of the cheapest in the market.
This positions it as the best crypto investment for those looking to get in early on a top project. Analysts are also optimistic about KangaMoon and predict a 50x increase in KANG’s price.
This projection is fuelled by KangaMoon’s strategy to integrate Social-Fi and Play-to-Earn (P2E) features on one platform, aiming to create an immersive and rewarding experience. The platform will build a dynamic community centered around meme coin culture.
Another area where KangaMoon shines is its improved tokenomics. Unlike Shiba Inu, which has a supply of trillions of tokens, KangaMoon has just 1 billion tokens. That makes it a scarce token that will see high demand. Currently, 60% of KANG tokens are available during the presale phase. As a result, investors are advised to join the project early and enjoy gains from the best crypto investment.
Conclusion
Bitcoin ETF has seen massive inflows in the past month thanks to huge adoption from institutional investors. If this adoption continues, the price of Bitcoin could soar in the coming weeks, affecting altcoins like Shiba Inu and KangaMoon.
However, investors should pay more attention to KangaMoon. It is currently priced at $0.005 in the presale stage and will launch in the next quarter.
Discover the Exciting Opportunities of the Kangamoon (KANG) Presale Today!
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Source: https://www.thecoinrepublic.com/2024/02/08/blackrock-bitcoin-etf-join-top-5-shiba-inu-and-kangamoon-price-prediction/