Polygon Price Prediction: With MATIC Coin's Upward Swing, Shibie Coin Could Be Your Next Big Win

Polygon Price Prediction: With MATIC Coin’s Upward Swing, Shibie Coin Could Be Your Next Big Win

Updated: 11 August 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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The price of Polygon (MATIC) dropped after Binance’s announcement to delist the MATIC perpetual contracts.

MATIC contracts are not the only ones removed, as Binance did the same to ADA perpetual contracts.

The world’s largest crypto exchange by volume noted that the move comes in light of regulatory actions related to the US SEC’s classification of MATIC and ADA as securities.

With many ADABUSD and MATICBUSD positions still open, Binance will leave them for a few more days. However, the works will automatically conclude on August 17 at 9:00 UTC.

The classification of Polygon and Cardano as securities sparked action against numerous significant exchanges. Binance and Coinbase both took steps to avoid issues with the regulator.

Both Cardano and Polygon responded to the allegations, firmly denying their status as securities. However, no one wants to be targeted by the SEC, hence the strategic decisions.

The MATIC Price Drops Following the Sharp Rise

On August 7, the MATIC price saw a sudden surge that took it from $0.65 to $0.70. The level at $0.7 started acting as a strong resistance that MATIC attempted to breach several times this week.

Unfortunately, the price got rejected each time. The final rejection came yesterday, August 10, following the decision to delist MATIC and ADA perpetual contracts.

MATIC reacted by dropping to $0.682. The price is still not as low as at the start of the week, before the surge.

However, its future performance has been brought into question. Some analysts believe that MATIC buyers will not give up.

They seem to be trying to break through the local trend and strong liquidity zone above.

Polygon has a New Governance Model that could Push the MATIC Price

Polygon recently launched a new governance model, increasing the MATIC demand.

The new model was inspired by the achievements of Ethereum, and its structure includes the ecosystem council.

The council will form the bedrock of the project’s decision-making process. The model will allow the community to govern upgrades and improvements to the Polygon network.

As a result, developers can shape the platform together through collaboration.

Bitstamp Suspends All MATIC-Related Trading Activities

Similarly to Binance, Bitstamp also reacted to the SEC’s decision to categorize MATIC as a security.

The exchange suspended all MATIC-related trading on the platform until further notice. However, it is worth noting that this is only the case in the territory of the US.

Traders outside the country can continue to trade MATIC and any other coin or token already available with no disruptions.

The SEC’s new classification even robbed the US market of yet another cryptocurrency. Furthermore, it likely will not discourage US traders from trading MATIC; it will only discourage doing so safely.

Shibie Presale Raises More than Half of its Soft Cap

A newly emerging meme coin, known as Shibie (SHIBIE), attracted great interest following the premiere of the highly successful Barbie movie.

The project combines Barbie with Shiba Inu, a popular dog breed that became the mascot of the crypto industry’s meme coin sector.

More than that, Shibie has an attitude, and it aims to be

The Bombshell Bitch of the Crypto World.

Its token sale has seen significant interest and demand, selling 64% of the available tokens. With a low soft cap of $500,000, SHIBIE has already raised $322k.

Each SHIBIE sells for $0.000167, and you can buy them with ETH, BNB, or USDT.

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