Binance Coin, Shiba Inu & Dogecoin — Asian Wrap 18 Jan

Binance reduces supply of BNB by 1.68 million during 18th quarterly burn

Leading cryptocurrency exchange Binance recently burned over 1.68 million of its BNB tokens worth approximately $800 million. The trading platform carried out its 18th burn and completed the first quarterly BNB Auto-Burn.

Binance introduces BNB Auto-Burn

Since Binance and its exchange token was launched in 2017, the firm has committed to removing 100 million BNB or half of the total supply in circulation through burning. 

Shiba Inu price primed for a 35% rally as SHIB overcomes a significant hurdle

Shiba Inu price has been on a slow downtrend for the last few months. However, things seem to be turning around as SHIB sets a base, indicating that the downtrend is over.

Shiba Inu price to collect liquidity

Shiba Inu price set two swing lows at $0.0000287 on December 4 and December 20, 2021. Unlike the usual triple bottom setup, the third tap on this support level failed to hold and create a swing low at $0.0000254. 

SHIB/USDT 4-hour chart

Dogecoin price to dip lower as DOGE attempts to find support

Dogecoin price rallied more than 50% from last Tuesday to last Friday, moving from the Tuesday open of $0.143 to the Friday high at $0.215. However, bulls could not maintain the gains on Friday as Dogecoin lost the majority of its Friday gains, closing up 7% instead of the 25% increase it had.

Dogecoin price sees sellers continue to push Dogecoin lower, retest fo the falling wedge incoming Dogecoin price action continues to be a source of frustration and disappointment for long-term DOGE hodlers.