Interesting movements for the crypto SEI, BNB, and Shiba Inu

Although the crypto market is currently literally dominated by Bitcoin and Ethereum, there are others that are recording interesting movements: we are talking about SEI, BNB, and SHIB (Shiba Inu).

Summary

• The trend of crypto SEI, Binance Coin (BNB), and Shiba Inu (SHIB)
• Analysis of Binance Coin (BNB)
• SHIB (Shiba Inu)

The trend of crypto SEI, Binance Coin (BNB), and Shiba Inu (SHIB)

SEI is a cryptocurrency launched only in August of last year.

Due to the fact that it was not present in the markets during the last major bull run, it is currently close to its all-time price highs.

The absolute maximum was recorded last month, at over $0.87, but the current price of $0.83 is not far off.

The interesting thing is that in October, before the mini-bull run of the crypto markets in 2023, it was worth less than 0.1$, so in a few months it recorded an almost +900% increase.

However, this rise ended in January, but by the end of the month it had dropped below $0.6.

So in February it is recording another +40%.

Note that at the time of its launch, its price was $0.18, which was higher than the price from which the bull run started in October. In other words, in the months immediately following its market debut, it had dropped, only to then experience a spectacular boom at the end of the year.

The problem now, however, is that the big boom has already happened. In fact, while Bitcoin, for example, is reaching new yearly highs, SEI has not yet managed to do so in the past few days.

The fact that it experienced a 30% retracement in January after the late 2023 bull run clearly indicates that it is a highly volatile crypto asset, likely still dominated by pure speculation. In these cases, caution is necessary because strong declines often follow such rises.

Analysis of Binance Coin (BNB)

The situation completely changes for BNB, which is Binance coin.

Being the native cryptocurrency of the BSC (Binance Smart Chain) network, it is closely tied to the fate of the world’s largest exchange.

Due to the boom of Solana at the end of 2023, it lost its third position among the cryptocurrencies with the highest market capitalization (excluding stablecoins), in favor of SOL.

For example, while Bitcoin is up +21% since the beginning of the year, and Ethereum is up +20%, BNB is only recording a meager +6%, with Solana at +13%.

In other words, BNB has been struggling a bit compared to other major cryptocurrencies for some time now. It is certainly facing tough competition from SOL.

The current price of BNB, around $330, is in line with the price at the end of June 2022, after the failure of Celsius. However, it is still well below the $400 it had at the end of April of the same year before the implosion of Terra/Luna.

The fact is that BNB’s 2023 has not been particularly good.

Although the lowest point of the recent bear market was reached in June 2022, below $200, even in October 2023, after almost a year and a half, the price was still below $210.

During the last small bull run at the end of 2023, it reached up to $331, since the current price is the highest since May of last year, with a gain of 57% in just over three months.

This is a significantly lower percentage compared to the other major cryptocurrencies in the same period, but what is most surprising is that the current value is lower than last year’s $348.

Currently, there don’t seem to be clear signs of a trend reversal, so it’s possible that BNB will continue to suffer a bit, especially due to the competition from Solana.

SHIB (Shiba Inu)

A different story is the one told by SHIB, the token of the Shiba Inu crypto project.

It has now dropped to 17th in terms of market capitalization, and has exhausted that sensational strength that made it rise to the top 10 in 2021.

The price of SHIB has not been moving much for a few months now. It remains a volatile and speculative asset, but paradoxically it is moving less compared to more serious assets like Bitcoin and Ethereum.

Its current price is about 9.6 millionths of a dollar, but in December 2023 it reached 11.6 millionths.

So even though it has increased from 8.8 to 9.6 millionths in the last week, with a gain of 9%, it is still in loss compared to the peak of December’s last small bull run.

Actually, the current price is not only lower than that of August last year, but it is also much lower than the 14.7 millionths of a dollar in February 2023.

Taking 2022 as a reference, it is discovered that before the Terra/Luna implosion in May, its market value was even higher than 20 millionths of a dollar, so the current value is still less than half.

However, the current value is higher than that of September 2021, and is much lower only than that of the two peaks. These two peaks (May and October 2021) were generated by a huge speculative bubble that, once burst, allowed the price of Shiba Inu to return to values ​​prior to the October bubble and subsequent to the May one.

From these data, it seems to emerge that only in the case of a new major speculative bubble, SHIB may return to registering significant gains comparable to those of the past.

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