Thursday, May 30, 2024

SHIB Price Takes U-Turn as Shytoshi Kusama Unveils Epic Teaser

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SHIB price takes U-turn after epic Shiba Inu teaser is unveiled
Yesterday, on June 29, Shiba Inu token’s price demonstrated a rebound of 1.5% after dropping by almost 5% the day before. The reason behind SHIB’s recovery lies in a teaser video posted by Shiba Inu lead Shytoshi Kusama on his official Twitter handle. Kusama captivated the attention of the SHIB community by accompanying the video release with a cryptic statement: “Wen is so last year. The real question is… Where?” Following the publication, the Shiba Inu token showcased intriguing price action. At the moment of writing, the meme token is changing hands at $0.000007388, per CoinMarketCap.


360 million XRP bought by whales ahead of major price move
According to a recent tweet by crypto analyst Ali Martinez, XRP whales have been spotted buying the dip as they added 360 million XRP to their bags after the token’s price dropped by 12% from June 22 to June 28. The worth of XRP purchased by whales is estimated at $170 million. On June 22, XRP jumped to $0.52, but this turned out to be a trap for long positions as the XRP price reversed subsequently. The token then plunged below the $0.486 level, representing the daily MA 50. On June 28, the moment came for XRP dip buyers as the price dipped to lows of $0.464. Before continuing further upward, XRP must confirm the daily MA 50 barrier at $0.486 as support. In this situation, XRP might retest highs near $0.52.

$4 trillion giant Fidelity refiles for spot Bitcoin ETF
As recently reported by Eric Balchunas, senior ETF analyst for Bloomberg, Fidelity has officially refiled for a spot Bitcoin ETF under the “Wise Origin Bitcoin Trust” name. This move is the most recent evidence of how traditional finance is embracing cryptocurrencies. Balchunas notes that the filing looks similar to those of investment titans BlackRock and Ark Invest. The Surveillance Sharing Agreement (SSA) wording resembles the SSA language in ARK’s filings and also appears to be present in BlackRock’s submission. This suggests a coalescing of strategies by these large institutional players around a set template that may be more likely to win approval from the SEC.

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Also read: Cryptocurrency : Bitcoin Remains Above $30,000 Mark

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