{"id":7307,"date":"2025-01-13T08:33:02","date_gmt":"2025-01-13T08:33:02","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=7307"},"modified":"2025-01-13T08:33:02","modified_gmt":"2025-01-13T08:33:02","slug":"ethereum-bulls-eye-20k-despite-recent-slump-and-supply-inflation","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=7307","title":{"rendered":"Ethereum Bulls Eye $20K Despite Recent Slump and Supply Inflation"},"content":{"rendered":"<div>\n<p>Ethereum prices are back in the doldrums after slumping more than 11% over the past week. The network is also facing inflationary pressures as the ETH supply returns to pre-merge levels due to low demand.<\/p>\n<p>Nevertheless, the Ether bulls remained upbeat and confident that this year will see a <a href=\"https:\/\/cryptopotato.com\/ethereum-to-outperform-bitcoin-in-face-melting-rally-in-q1-analysts\/\" data-wpel-link=\"internal\">new all-time high<\/a> for the asset.<\/p>\n<p>In a post on X on Jan. 12, crypto trader \u2018Mister Crypto\u2019 said he was accumulating because \u201cEthereum is about to send hard.\u201d The analyst posted a chart from the previous year with uncannily similar patterns which preceded a large move upwards.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Ethereum is about to send hard.<\/p>\n<p>I\u2019m accumulating. <a href=\"https:\/\/t.co\/GoWjHp4rVS\" data-wpel-link=\"external\" target=\"_blank\">pic.twitter.com\/GoWjHp4rVS<\/a><\/p>\n<p>\u2014 Mister Crypto (@misterrcrypto) <a href=\"https:\/\/twitter.com\/misterrcrypto\/status\/1878497671553691734?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">January 12, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Deflationary Supply to End<\/h2>\n<p>Meanwhile, popular crypto commentator \u2018CRYPTO\u20bfIRB\u2019 posted a similar chart asking their 698,000 X followers, \u201cWould you be surprised if ETH hit $20,000 this cycle?\u201d which got mixed reactions.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Would you be surprised if <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">$ETH<\/a> hit $20,000 this cycle? <a href=\"https:\/\/t.co\/6s9yZRVLLh\" data-wpel-link=\"external\" target=\"_blank\">pic.twitter.com\/6s9yZRVLLh<\/a><\/p>\n<p>\u2014 CRYPTO\u20bfIRB (@crypto_birb) <a href=\"https:\/\/twitter.com\/crypto_birb\/status\/1878639607006581116?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">January 13, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On Jan. 12, YouTuber \u2018Crypto Rover\u2019\u00a0<a href=\"https:\/\/x.com\/rovercrc\/status\/1878458413245411733\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">said,<\/a>\u00a0\u201cThis breakout will teleport Ethereum to $8,000,\u201d while analyst \u2018Crypto Caesar\u2019\u00a0<a href=\"https:\/\/x.com\/CryptoCaesarTA\/status\/1878426648992735544\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">said<\/a> it was time for the ETH\/BTC ratio to bounce, renewing calls for altseason.<\/p>\n<p>The ratio, which measures the price of ETH in terms of BTC, is at a three-year low of 0.034, <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHBTC\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">according<\/a> to Tradingview.<\/p>\n<p>Another concern is the network returning to an inflationary supply, which has been the case since April 2024. Over the past nine months, the Ethereum supply has increased by 0.35% and is currently 120.4 million, <a href=\"https:\/\/ultrasound.money\/?timeFrame=since_merge\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">according<\/a> to Ultrasound.Money.<\/p>\n<blockquote>\n<p>\u201cThe supply of ETH will likely reach the pre-merge supply within the next few weeks,\u201d observed ITC founder Benjamin Cowen on Jan. 13.<\/p>\n<p>\u201cIt is currently increasing by about 45k ETH\/month, but the supply is only 32k ETH away from the pre-merge supply.\u201d<\/p>\n<p>\u201cUp until this point, though, demand has remained so low that the supply of ETH has been inflationary for about the last 10 months,\u201d he <a href=\"https:\/\/x.com\/intocryptoverse\/status\/1878659316128887050\" data-wpel-link=\"external\" target=\"_blank\">added<\/a>.<\/p>\n<\/blockquote>\n<p>The narrative at the time of the Merge in late 2022 was that Ethereum fee burning through EIP-1559 would outpace production, and that was the case until April 2024, when supply had shrunk by almost 0.4%.<\/p>\n<h2>ETH Price Outlook<\/h2>\n<p>Ethereum has remained flat over the weekend but dropped alongside the rest of the market early on Monday to under $3,200.<\/p>\n<p>The asset has tanked almost 15% since its 2024 high of just over $3,700 around a week ago.<\/p>\n<p>ETH has been consolidating at current levels for the past five days and needs to hold them to prevent a larger <a href=\"https:\/\/cryptopotato.com\/ethereum-price-analysis\/\" data-wpel-link=\"internal\">price<\/a> collapse below $3,000.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">$ETH<\/a> might dump all the way to $2,800 under this bearish scenario! In that case, it would be a golden opportunity to BUY more <a href=\"https:\/\/twitter.com\/hashtag\/ETH?src=hash&amp;ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">#ETH<\/a> for the long term!<\/p>\n<p>Trade <a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">#Ethereum<\/a> on Bybit \u2013 <a href=\"https:\/\/t.co\/TsSnqpda67\" data-wpel-link=\"external\" target=\"_blank\">https:\/\/t.co\/TsSnqpda67<\/a> <a href=\"https:\/\/t.co\/yZ0aSYEpyl\" data-wpel-link=\"external\" target=\"_blank\">pic.twitter.com\/yZ0aSYEpyl<\/a><\/p>\n<p>\u2014 The Moon Show (@TheMoonCarl) <a href=\"https:\/\/twitter.com\/TheMoonCarl\/status\/1878369283765399858?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">January 12, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The post <a href=\"https:\/\/cryptopotato.com\/ethereum-bulls-eye-20k-despite-recent-slump-and-supply-inflation\/\" rel=\"nofollow\">Ethereum Bulls Eye $20K Despite Recent Slump and Supply Inflation<\/a> appeared first on <a href=\"https:\/\/cryptopotato.com\/\" rel=\"nofollow\">CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum prices are back in the doldrums after slumping more than 11% over the past week. The network is also facing inflationary pressures as the ETH supply returns to pre-merge levels due to low demand. Nevertheless, the Ether bulls remained upbeat and confident that this year will see a new all-time high for the asset. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-7307","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/7307","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7307"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/7307\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7307"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}