The cryptocurrency market experienced a whirlwind of action over the week. From Shiba Inu’s burn rate skyrocketing to the influx of Kissinger-themed tokens, the digital currency landscape was anything but dull. Here’s a recap of the top stories:
Shiba Inu Burn Rate Skyrockets – Shiba Inu (CRYPTO: SHIB), the self-proclaimed ‘Dogecoin killer,’ saw its burn rate amplify by an impressive 500% in a single day. An estimated 83 million SHIB tokens disappeared from its supply, indicating a sudden and calculated move by holders to shrink the coin’s supply. An unidentified entity reportedly incinerated 82 million SHIB tokens within a mere half-hour. Read the full article here.
Death Spurs Kissinger Tokens – Following the death of the 100-year-old former U.S. Secretary of State, Henry Kissinger, at least 9 tokens were created in his name. These Kissinger-themed coins attracted over $307,000 in trading volume. A wrapped Ethereum (CRYPTO: ETH) token led the pack, soaring over 5,700% within an hour of its introduction on Uniswap. Read the full article here.
See Also: ‘Dogecoin Killer’ Shiba Inu Burn Rate Skyrockets 10,000% Thanks To This Good Samaritan
Bitcoin ETF Decision Looms – Scott Johnsson, a general partner at Van Buren Capital, has outlined an “official” date range for when regulators might greenlight Spot Bitcoin Exchange-Traded Funds (ETFs). Based on information from Sherry Haywood of the U.S. Securities and Exchange Commission, approval is anticipated between Jan. 5 and Jan. 10, 2024. Read the full article here.
Crypto Market Braces for Shift – A pseudonymous cryptocurrency analyst predicts a gradual decline for several prominent cryptocurrencies, including Solana (CRYPTO: SOL), Chainlink (CRYPTO: LINK), Avalanche (CRYPTO: AVAX) and the decentralized finance (DeFi) token Rune RUNE/USD. The analyst’s focus was on specific technical indicators, particularly the .382 Fibonacci retracement levels and the 200-day Exponential Moving Averages (EMAs) on the four-hour charts. Read the full article here.
Predicting a Bitcoin Boom – Bitcoin (CRYPTO: BTC), Chainlink, Ocean Protocol, and Polkadot could witness significant price movements, analysts suggest. Bitcoin is projected to reach $524,000 over the next four years based on its historical performance during its…
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