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Chainlink (Link) Price Eyes $30 As Traders Watch $27 Breakout
Crypto Trends

Chainlink (LINK) Price Eyes $30 as Traders Watch $27 Breakout

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Chainlink (LINK) seems to be standing out in the crypto space now as its price displays a strong bullish trend. According to the experts on social media platform X, the token is preparing for an incredible push. 

Recently various analysts have shared their own take on the token with some suggesting a price correction while others expect even bigger gains ahead for LINK in the short term.

For instance, CryptoFeras on X, sees $26.6 as a resistance level and explained that if the price breaks the point, LINK could push up to $30.85 in coming days. The same analyst also noted that if the price decides to fall back to $22, the level could act as a strong buying zone which could give investors a chance to re-enter the market.

At the time of writing, Chainlink is trading at $24.98, which shows a 4.27% drop in the past 24 hours, while trading activity has dropped by 19% compared to the previous day. This results in $2.27 billion in trading volume, according to CoinMarketCap.

However, on the technical side, LINK has recently broken out of a bullish flag and pole pattern and is now facing resistance near $27.

Meanwhile, the Relative Strength Index (RSI) stands at 65. This means the token is not yet in overbought territory and still has room for growth. 

LINKUSD Weekly Price Chart | Source: TradingView

In addition to this, data from Ali chart on X shows Chainlink has been adding nearly 3,000 new wallet addresses every day. This is its fastest growth in the past five months. This surge in network participation is a bullish sign because it reflects higher interest from new users entering the LINK ecosystem.

However, on-chain metrics are flashing a different signal. According to Coinglass, LINK’s major liquation points are at $24.29 on the downside and $26.69 on the upside. This is where traders have taken large leverage position 

Data also shows that around $48.53 million in long trades and $13.18 million in short trades are positioned at these levels. One red flag still remains. More than $18 million worth of LINK tokens have recently been transferred onto exchanges, which often mean that some long-term holders might be preparing to sell. 

Despite this, experts and traders remain focused on whether LINK can clear the $27 resistance level and continue its push toward the highly anticipated $30 mark.

Also Read: Shiba Inu Price Prediction: Key Levels to Watch Now



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The Graph enables cross-chain transfer of GRT with Chainlink’s CCIP
Crypto Trends

Can LINK price surge to $50 after the Chainlink Endgame release?

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LINK price continued its strong surge this week, rising to its highest level since January after the developers published the Chainlink Endgame vision and as whales continued accumulating. 

Summary

  • Chainlink published the Endgame document highlighting its vision for the future.
  • Whales have continued the LINK accumulation this year. 
  • LINK was the most bought token by smart money investors in the past 24 hours.

Chainlink (LINK) token jumped to  $28.85, up by 165% from its lowest level this year. Its 24-hour volume jumped to $2.9 billion, while its market capitalization hit $17.5 billion.

Chainlink Endgame launch

The main catalyst for the LINK price surge was the release of the Chainlink Endgame, a lengthy document detailing its vision and position in the blockchain industry. 

At the core of its vision is becoming the industry-standard oracle platform that powers advanced blockchain transactions. It sees itself playing the role that Windows did for the PC industry, iOS for mobile, and AWS for the cloud industry.

Chainlink then hopes to power transactions in the trillions in industries like real estate, debt markets, stocks, and derivatives.

Chainlink also sees its technology helping financial institutions speed cross-border payments and reduce the cost of transactions through tokenization. It highlighted its partnership with UBS and SWIFT, a society that handles trillions of transactions.

The Chainlink Endgame document also highlighted how ANZ Bank and Fidelity used its technology to enable cross-chain settlement of CBDCs, stablecoins, and tokenized assets. 

The document came a few weeks after Chainlink launched the Strategic LINK Reserves. In this, it has started channeling the fees it generates onchain and off-chain to accumulate LINK tokens. It has already bought tokens worth over $2.8 million since its launch. 

Meanwhile, LINK was the most bought token by smart money investors in the last 24 hours. Nansen data shows that these investors bought tokens worth over $1.5 million in this period.

Whale investors have increased their LINK holdings by 66% in the last 30 days to 5.49 million, a sign that they expect it to keep rising. 

Another potential catalyst is that at least one company may decide to file for a spot LINK ETF with the Securities and Securities and Exchange Commission. 

LINK price chart analysis points to a surge ahead

Chainlink price chart | Source: crypto.news

The daily timeframe chart shows that the LINK price has been in a strong uptrend in the past few months. It has now moved to the third phase of the Elliott Wave pattern, which is normally the most bullish. Chainlink is also slowly forming a cup-and-handle pattern whose depth is 67%. As such, measuring the same distance from its upper side points to more gains to $52.



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Shiba Inu
GameFi Guides

Shiba Inu Integration With Chainlink Introduces A New Way To Burn SHIB

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Shiba Inu (SHIB) has taken a significant step toward strengthening its ecosystem through its integration with Chainlink (LINK). The update introduces a new way to burn SHIB directly on Ethereum with every cross-chain transaction. This ensures that the cryptocurrency remains true to its ETH-native roots while expanding its presence across various blockchains. 

Chainlink CCIP Introduces New SHIB Burn Method 

Chainlink’s Cross-Chain Interoperability Protocol (CCIP) is now part of the Shiba Inu ecosystem, marking a major move to boost its connectivity and expand utility across multiple networks. This integration not only reinforces SHIB’s position as an Ethereum-native asset but also creates an entirely new mechanism for burning tokens across multiple chains. 

Shiba Inu developer Kaal Dhairya emphasized in an X social media post on August 16 that SHIB’s foundation will always remain on Ethereum, with every move developed and audited in collaboration with the Chainlink team. He also noted that new pathways now exist for builders who want to deploy Shiba Inu on other chains such as Base, XX, or Solana. 

Moreover, through the Chainlink CCIP version of SHIB, developers can seamlessly move tokens across different blockchains while triggering burns that feed directly back into Ethereum. This ensures that every cross-chain transfer contributes to reducing Shiba Inu’s considerable circulating supply. 

Dhairya also revealed that this new system was designed not just for SHIB but also for the ecosystem’s tokens, including BONE, LEASH, and TREAT, delivering a comprehensive burn mechanism that benefits all corners of the crypto network. Beyond token burns, Shiba Inu’s official partnership with Chainlink in 2024 has also brought additional technological advancements. 

Ecosystem tokens like SHIB, BONE, and LEASH have already adopted Chainlink’s Cross-Chain Token (CCT) standard, while ShibariumNet has integrated CCiP as its canonical cross-chain infrastructure. Collectively, these innovations demonstrate that Shiba Inu is not only focused on community-driven token burns but also on building a scalable infrastructure that can compete with leading decentralized networks.

For the Shiba Inu community, the new burn mechanism marks a fresh era of growth and connectivity. Token burns have always been an integral part of Shiba Inu’s long-term value proposition, and the new Chainlink CCIP model streamlines this process, making it more efficient and scalable across multiple networks. 

Shiba Inu Records Massive Weekly Burn

In a different X post, the Shibburn tracker announced that the past seven days have witnessed a staggering 158.7 million SHIB destroyed, reflecting a surge of over 1,047% compared to the prior week. This rise in burn rate indicates renewed enthusiasm in the community and heightened activity from individuals and projects committed to reducing supply. 

In the last 24 hours, Shibburn also reported that more than 29.3 million SHIB tokens were burned, representing a 4.14% increase in daily destruction rates. CoinMarketCap data shows that SHIB’s price dropped over 4.5% in a single day, yet these burn figures demonstrate the community’s continued commitment to reducing excess supply.

SHIB trading at $0.000012 on the 1D chart | Source: SHIBUSDT on Tradingview.com

Featured image from Getty Images, chart from Tradingview.com

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