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Cronos to propose governance plan for strategic reserve Ethereum Virtual Machine (EVM) chain Cronos announced via its official blog that it will introduce a governance proposal on March 3 to establish a Cronos Strategic Reserve. The proposal focuses on reissuing 70 billion previously burned CRO tokens under a five-year lock-up period. Voting on the proposal is set to conclude on March 17.

The crypto market has been on a rollercoaster ride, with most cryptocurrencies experiencing major sell-offs. However, Solana (SOL) is defying the trend, surging over 15% in a single day. The reason? Former U.S. President Donald Trump just announced a Crypto Strategic Reserve, featuring Solana as one of the selected coins. This revelation has sparked fresh investor interest, pushing SOL’s price to $160. With bullish momentum building up, the question remains: Is Solana on its way to $300? As the crypto market moves fast, so should you. Open an account with Bitget to easily get started trading cryptos. The crypto market recently suffered a major downturn, with most top coins losing over 20% of their value. However, Trump’s endorsement of certain cryptocurrencies has helped shift market sentiment, leading to a partial recovery. Among the biggest gainers is Solana , which has seen renewed investor confidence as traders speculate on its long-term role in the crypto space. --> Click here to easily trade Solana today <-- SOL is currently trading around $160, marking a 15% increase in the past 24 hours. This sudden price jump was triggered by Trump’s unexpected Crypto Strategic Reserve announcement, which included Solana as one of the key cryptocurrencies. This has fueled speculation about SOL’s future, with many traders now eyeing higher price levels. If momentum continues, $200 could be the next major resistance, setting the stage for even bigger gains. SOL/USDT 1-day chart - Bitget Platform via TradingView Looking ahead, Solana has strong upside potential. If the market continues to recover, SOL is projected to reach $300 in the medium term. A major rally could unfold if Bitcoin hits $100,000, potentially pushing Solana even higher. For now, all eyes are on SOL, as investor sentiment remains bullish after Trump’s unexpected crypto endorsement.

BWEnews AI analyze(No accuracy guaranteed): sentiment: Bullish possible asset mentioned: reason: Donald Trump's advocacy for a U.S. Crypto Reserve via Executive Order suggests potential positive regulatory changes for the crypto industry, especially as it counters perceived adversities from the previous administration. 方程式新闻AI自动分析(不保证准确性): 情绪: 看涨 可能提及的资产: 分析理由: 唐纳德·特朗普通过行政命令倡导美国加密储备，表明对加密行业可能会有积极的监管变革，尤其是作为对前政府不利政策的反制。

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TL;DR According to Ali Martinez, SHIB could find support at as low as $0.0000094. However, a breakout above $0.00001461 could trigger bullish momentum and a 230% price rally. SHIB’s Freefall Could Stop Here The meme coin sector has suffered painful losses following the overall crypto market crash in the past few days. The second-largest asset of that type – Shiba Inu (SHIB) – was among the worst affected, with its price plummeting by 16% weekly and 10% daily. SHIB Price, Source: CoinGecko Its market capitalization plunged below $7.7 billion, meaning the asset is now out of crypto’s top 20 club. As expected, the downtrend has negatively affected SHIB’s investors. According to IntoTheBlock’s data, the share of people sitting at paper losses has surged past 60%. One person touching upon SHIB’s recent performance was Ali Martinez. The analyst assumed that the price of the meme coin could decline to $0.000012 or $0.0000094 before finding support. The second level represents a 30% decline from the current rate. Another industry participant who chipped in on the matter was the X user Rose Premium Signals. They envisioned a bullish momentum if SHIB breaks above $0.00001461. The analyst predicted that reclaiming the target could lead to a price rally to as high as $0.00004401 (a 230% increase from the ongoing valuation). More Pain Ahead? Two important factors signal that SHIB bears might continue to prevail in the short term. The first is the reduced Shibarium activity. At the beginning of the month, Shiba Inu’s layer-2 scaling solution processed multi-million transactions on a daily scale, but in the past few weeks, this figure has shrunk substantially. This suggests decreased interest in the network’s applications, such as decentralized finance (DeFi), NFT projects, or gaming platforms. For its part, this could lower demand for SHIB tokens and reduce the buying pressure. The next factor is Shiba Inu’s burning mechanism. The burn rate has dropped by 16% in the last 24 hours, resulting in around 25 million tokens sent to a null address. The program’s ultimate goal is to reduce the tremendous circulating supply of SHIB, possibly making the asset more valuable via scarcity. However, stalled progress could hinder that mission. The post Shiba Inu (SHIB) Might Plunge by Another 30% Before Finding Support (Analyst) appeared first on CryptoPotato.