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Crypto News Digest by U.Today
Valeria Blokhina
U.Today’s daily news digest keeps you informed of the most important updates in the cryptocurrency industry
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U.Today presents the three main news stories of the past day.
3 key things to expect from Shiba Inu (SHIB) this week
After a worrying decline over the weekend, Shiba Inu managed to record a slight rebound: according to data from CoinMarketCap, at the time of writing this article, the meme coin has grown by 0.96% in the last 24 hours and is trading at $0.00002594. The main goal of Shiba Inu investors remains to break above the $0.00003 price level, and here it is three factors this could cause this to happen. The first catalyst is the burn rate, which serves as a key indicator of interest within the community. According to Shibburn, in the last 24 hours, only 1,825,285 SHIBs were burned; however, this small sum does not negate the impact, i.e. the users’ trust in the project. Secondly, you should pay close attention to retail sentiment this week. If SHIB wants to reach the expected price, its volume must remain high for the entire week. Third, SHIB whale activities are also playing an important role in achieving a multi-week growth record. According to data from IntoTheBlock, SHIB whales are currently in hibernation mode, with their activity dropping by 36.96% during the night.
Is an Ethereum (ETH) rally imminent? The analyst predicts a new all-time high
As recently highlighted by eminent crypto analyst Jelle, Ethereum is showing strong signs of recovery an imminent demonstration. In his X post, Jelle wrote that ETH broke out of the falling wedge and flipped its key areas into support. Now, Jelle continued, Ethereum is pushing for $4,000 before potentially reaching a new all-time high. The asset currently changes hands at $3,900, down 0.56% in the last 24 hours. Ethereum’s recent price rally and optimistic outlook for its future can be attributed to several factors, the main one being the approval of Ethereum spot ETFs by the SEC. The approval of Ethereum spot ETFs is expected to attract substantial institutional investment, opening a new channel for exposure to Ethereum for both institutional and retail investors. As a result of this development, demand and liquidity in the market are expected to increase, supporting the upward price momentum.
Crucial DOGE-Tesla memo issued by an insider
In the wake of frequent cases of scammers spreading misinformation about Tesla, an electric car company, and cryptocurrencies, user @cb_doge an important statement. DogeDesigner remembered the crypto community claims that the only digital asset accepted by Tesla is Dogecoin. DOGE enthusiasts greeted the statement with a wave of positive comments, some of them expressing hope that one day they will be able to purchase not only Tesla products but also an electric car and other “goodies”. Recall that DOGE was first accepted by Tesla in January 2022 as an experiment. Since then, customers have been able to use DOGE to purchase Tesla products from the company’s online store. A few months later, SpaceX began selling its products for DOGE as well. In May this yearDogecoin has been officially added as a payment option on Tesla’s website.
About the author
Valeria Blokhina
Valeria is the community manager of U.Today. She is a cryptocurrency enthusiast and believes that cryptocurrency is the future of finance. Valeria currently covers the latest news in the world of cryptocurrencies and blockchain.