**Shiba Inu Price Faces Pressure as Trading Volume Nears Zero**
Shiba Inu (SHIB) is struggling as trading volumes on major exchanges fall dangerously close to zero, threatening to halt any potential rally. The market appears stagnant, with investor interest in the once-hyped meme token waning alongside its declining volatility. This reduced participation is evident in the drying up of trading activity.
**Market Stagnation**
SHIB has been trapped in a narrow consolidation range near $0.0000102 for weeks, failing to attract significant buying momentum or retail inflows. Following a harsh crash in October, the token is slowly moving along a short-term ascending trendline on the daily chart but continues to face mounting pressure due to low trading volumes.
—
**XRP Network Sees Surge in New Accounts and Transaction Volume**
XRP has experienced a notable surge in new users, signaling potential for market recovery in the coming week.
**On-Chain Growth**
Data reveals that the number of newly activated XRP accounts doubled within a few days, highlighting increased on-chain activity. On October 30 alone, nearly 9,900 new accounts were registered—a significant single-day increase not seen in months.
**Market Implications**
This uptick points to renewed user engagement and potential ecosystem momentum for XRP. While the root cause remains unclear, the spike aligns with higher transactional activity and payment volume across the network. On November 1, payments between accounts exceeded 1 million, with the payment volume surpassing 1.2 billion XRP. This suggests a resurgence of user interest and greater network utilization.
—
**Tom Lee Says Gold Rally Could Boost Bitcoin’s Future Value**
Prominent crypto analyst Tom Lee has shared a bullish outlook for Bitcoin’s long-term price potential, citing gold’s recent all-time high as a key supporting factor.
**Bullish View**
In a recent interview with Anthony Pompliano, Tom Lee, Bitmine Chairman and crypto bull, explained how the gold market influences Bitcoin’s future terminal price. Bitcoin historian Pete Rizzo highlighted this insight, noting Lee’s prediction that Bitcoin could potentially reach $3 million.
**BTC Price Prediction**
Lee estimates Bitcoin’s future price might range between $1.6 million and $2 million per coin. He explained that gold’s recent rally is highly bullish for both Bitcoin and Ethereum, as gold tends to move first, with Bitcoin following suit. When asked about Bitcoin’s fair value if gold were to hit $5,000, Lee responded that dividing gold’s market cap by Bitcoin’s supply yields a price range of $1.6 to $2 million per BTC.
—
*Stay tuned for more updates on these developments across the cryptocurrency market.*
https://bitcoinethereumnews.com/bitcoin/shiba-inu-shib-trading-volume-near-zero-xrp-sees-100-surge-in-user-activity-tom-lee-shares-3-million-bitcoin-btc-prediction-crypto-news-digest/?utm_source=rss&utm_medium=rss&utm_campaign=shiba-inu-shib-trading-volume-near-zero-xrp-sees-100-surge-in-user-activity-tom-lee-shares-3-million-bitcoin-btc-prediction-crypto-news-digest