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Shiba Inu Sees 3B Token Burn This Week, What’s Next For SHIB?

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4 months ago

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The renowned dog-themed meme crypto Shiba Inu has again sparked bullish sentiments among traders and investors globally, primarily with its token burn saga. On Saturday, the weekly burn data showed that nearly 3 billion coins were taken from the circulating supply. In turn, market sentiments surrounding the meme coin have turned highly bullish, with traders eyeing an ATH shortly ahead.

Shiba Inu Records 3B Tokens Burnt This Week

According to an X post by the official tracker Shibburn, the Shiba Inu community witnessed 2.83 billion coins incinerated in the past seven days. Notably, the massive destruction of tokens resulted in a 60% uptick in the weekly burn rate.

Meanwhile, the intraday burn data showcased a 400% surge against the backdrop of 267.14 million tokens burnt, Shibburn data showed. Notably, CoinGape reported the 1 CENT DREAM project to have burnt 250 million coins recently, aligning with the intraday surge. As a result of these burning chronicles, the total supply took a hit, reaching 589.25 trillion SHIB to date. The substantial reduction in supply has echoed market optimism for the meme coin, abiding by the law of supply and demand.

Simultaneously, other community advancements have poured additional optimism into the token. CoinGape reported that the token’s lead developer, Shytoshi Kusama, hinted that the TREAT token launch is shortly to come. This much-touted looming endeavor has further ignited investor enthusiasm surrounding the Ethereum-based token.

SHIB Price Eyes Massive Rally Ahead?

At the time of reporting, SHIB price surged 5% intraday and was sitting at $0.00003156. Its 24-hour low and high were $0.00002955 and $0.00003186, respectively. Intriguingly, the broader charts solidified bullishness among investors, as the weekly and monthly gains totaled 16% and 68%, respectively. Overall, this bullish momentum falls in line with the community’s token burn endeavor.

Also, a recent Shiba Inu price analysis by CoinGape indicated that the meme coin eyes an ATH by 2025. This bullish anticipation comes against the backdrop of continued SHIB burns, community advancements, and bullish price patterns. In light of these bullish market dynamics, crypto market enthusiasts are extensively eyeing the token for further upside shifts.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Uniswap Founder Urges Ethereum To Pursue Layer 2 Scaling To Compete With Solana

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55 minutes ago

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April 20, 2025

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As Solana continues its ascent, experts are not writing off Ethereum’s chances to compete favorably in decentralized finance (DeFi). Uniswap founder Hayden Adams wants Ethereum to hone in on Layer 2 scaling to even the odds with Solana.

Uniswap Founder Wants Ethereum To Continue Horizontal Scaling

The calls for Ethereum to focus on Layer 2 scaling are growing louder, with Uniswap founder Hayden Adams joining the train. The Uniswap founder disclosed his stance in an X post, calling for Ethereum to continue its Layer 2 scaling development.

Adams notes that Layer 2 solutions remain Ethereum’s best chance to keep its skin in the DeFi game amid rising competition from Solana. He notes that Solana is better suited to do DeFi on its layer 1, given its roadmap and overall approach compared to Ethereum.

Ethereum, aware of the challenges of its Layer 1, has pivoted to an L2-focused roadmap since 2020. However, a broad ecosystem focus for Layer 2 scaling solutions has left the base layer without major updates for a while, whipping up conversations for a change in approach.

Despite the push for a return to a Layer 1-focused approach, the Uniswap founder wants Ethereum to continue on its existing roadmap. He took swipes at community members pushing for a change in strategy every month, urging them to “pick a lane” and mitigate the attendant risks.

“Ethereum has been working towards an L2-centric/horizontal scaling roadmap for 5+ years,” said Adams. “You want to throw this away at the final stretch because of what reason?”

Ethereum and Solana are going neck and neck with each other with a Coingape analysis weighing whether ETH price will hit $3 before SOL clinches $200.

A Layer 1-centric Approach Is Still Acceptable

The Uniswap founder disclosed in the post that he remains open to the possibility of a pivot to a Layer 1-centric approach. However, the approach has to be explicit and realistic, with Adams recommending key network changes.

“I’m fine with L1-centric scaling approach if it’s explicit and approached realistically,” said the Uniswap founder. “We would have to drop a ton of philosophical stuff like any laptop can run a node.”

He adds that Uniswap’s largest market share comes from Layer 1, making a pivot still a win for his project. However, the approach inflames centralization risks affecting the ability of individuals to run full nodes.

Amid the raging conversations for scaling direction, Ethereum is facing its worst quarterly price performance in nearly a decade. ETH targets a $1600 breakout as prices continue to wallow under $2,000 since slipping below the psychological level.

Tron founder Justin Sun says he is not selling his ETH holdings despite falling prices, pledging to collaborate with Ethereum developers to trigger ecosystem growth.

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Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Expert Reveals Why Consensus 2025 Will Be Pivotal For Pi Network

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4 hours ago

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April 20, 2025

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As Consensus 2025 inches closer, a buzz is swelling in the Pi Network ecosystem over potential growth opportunities. Ahead of the event, a cryptocurrency analyst wants the Pi Core Team (PCT) to wrap up two critical matters to reap the rewards of Consensus 2025.

Consensus 2025 Offers A Huge Opportunity For Pi Network

Cryptocurrency expert Dr Altcoin has described the incoming Consensus 2025 as a pivotal moment for the Pi Network. According to an X post, Dr Altcoin noted that the event will provide a raft of promotional benefits for Pi Network, urging the PCT to seize the moment.

“Consensus 2025 Summit is a huge opportunity to promote Pi Network – and one of the best so far!” wrote Dr Altcoin.

Pi Network founder Nicolas Kokkalis joins an exclusive list of industry players tapped to speak at the premier cryptocurrency summit. Kokkalis’ inclusion sent ripples across the Pi ecosystem with community members lapping up the reports.

The event, described as “the Super Bowl of Blockchain” and the “World Cup of Web 3,” will have over 20,000 individuals in attendance from over 100 countries. Scheduled for May 14-16 in Toronto, the Summit will feature industry heavyweights with a combined assets under management exceeding $4 trillion.

Kokkalis will share the stage with Bo Hines and Eric Trump in a golden opportunity to promote the Pi Network. Kokkalis has previously come under criticism for failing to make public appearances, unlike other blockchain founders.

Details of Kokkalis’ speech are under wraps, but there is growing belief that it will revolve around decentralized growth and the network’s adoption strategy. Pi Network has unveiled further details around its tokenomics, earmarking 65 billion Pi for community mining rewards.

Dr Altcoin Urges PCT To Put Its House In Order Ahead Of The Summit

While Consensus 2025 is poised to offer Pi a raft of benefits, Dr Altcoin notes that the Pi Core Team has to tick a few boxes. For starters, Dr Altcoin is pushing for the PCT to approve all KYB applications ahead of Consensus 2025.

Secondly, the cryptocurrency expert wants the PCT to officially deploy decentralized applications (DApps) on the Pi Network.

The PCT has less than a month to approve the KYB applications and give the green light for DApps. Pi Network has received criticism for the slow pace of processing KYB applications, leading to PiDaoSwap launching NFTs on BNB Chain.

Pi is trading at $0.6477 with Pi Coin tapped to reach highs of $30 if major banks adopt Pi Network. However, investors are bracing themselves for short-term volatility after suspicious account activity on Banxa.

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Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Ripple Expands In Asia With Debut XRP Investment Tool

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7 hours ago

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April 20, 2025

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

Payments company Ripple has partnered with HashKey Capital to launch Asia’s first XRP tracker fund. The new fund will track the price of XRP cryptocurrency, as per statements from both firms.

Ripple Steps In As Anchor Investor

Crypto community figure Crypto Eri first highlighted the partnership, noting that the San Francisco payments firm will invest in the new HashKey XRP Tracker Fund.

The fund is a major step towards extending institutional access to XRP in Asian markets. As HashKey reports, this is the first of potentially several such investment products in the region following the price performance of XRP.

Image: Kraken Blog

How The Fund Works For Investors

Investors of the fund may have flexible involvement options. The investors may give their contributions through conventional fiat monies or pay in kind. The structure of the fund grants the subscribers liberty to purchase or redeem shares per month.

HashKey’s Liquid Fund partner Vivien Wong identified XRP’s increasing relevance in the crypto space. She indicated that XRP has interested global companies that utilize it for different things, including tokenization of assets and as a store of value.

XRP is currently trading at $2.08. Chart: TradingView

Ripple Sees Growing Demand In Asia-Pacific

Fiona Murray, the Managing Director of Ripple for Asia-Pacific, underlined the heightened demand for digital asset products within regulated frameworks for professional investors across the region.

The firms are not only focusing on the tracker fund. According to reports, they intend to seek other opportunities as well, such as introducing a money market fund on the XRP Ledger (XRPL).

Broader Context Of XRP Investment Growth

HashKey Capital has become a leading player in the cryptocurrency industry. The firm already provides investment products linked to Bitcoin and Ethereum, with both the Bosera HashKey Bitcoin Spot ETF and the Bosera HashKey Ethereum Spot ETF listed on the Hong Kong Stock Exchange.

The new XRP tracker fund is HashKey’s third cryptocurrency-tracking investment product. The company says it will convert the XRP product into an exchange-traded fund within two years, subject to required regulatory approvals.

This follows increased institutional demand for XRP. In the US, over 11 institutions have submitted applications to the US Securities and Exchange Commission to list spot-based XRP ETFs.

Featured image from Medium, chart from TradingView

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