Altcoin
Shiba Inu Reveals Major Partnership Amid SHIB Burn Rate Surge, What Lies Ahead?
The latest SHIB burn data propelled a massive tide of optimism among crypto traders and investors as it soared over 500% intraday. Following the recent Shiba Inu and UAE partnership announcement, this surge has pushed market watchers to be highly optimistic. Notably, the dog-themed meme coin has recently joined forces with the UAE Ministry of Energy and Infrastructure (MoEI). As an upshot, market watchers are highly bullish as even SHIB price moved upward, defying broader market trends.
SHIB Burn Jumps As Over 18M Coins Taken Out Of Supply
As per data by the tracker Shibburn on X, the SHIB burn rate has blown up by 577% in the past 24 hours. This massive surge is primarily attributed to the elimination of 18.76 million tokens from the asset’s circulating supply.
With the burn rate surge weighing in, the current market supply was evaluated as 589.25 trillion tokens. Further, the weekly burn data flagged a 3551% uptick, riding the back of over 1 billion coins purged from the supply. In turn, market watchers remain bullish on future price action for Shiba Inu, mirroring the law of supply and demand.
Shiba Inu & UAE Partnership: What’s The Scoop?
Meanwhile, the SHIB community announced a groundbreaking partnership with the UAE Ministry of Energy and Infrastructure, capturing noteworthy attention across the industry.
His Excellency Eng Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs at MoEI stated, “We’re delighted to deepen our commitment to cutting-edge digital services. This partnership represents a pivotal moment in our journey toward redefining government services. By embracing emerging technologies, we aim to set a global benchmark for innovation, delivering transformative solutions that benefit both our citizens and the wider community.”
Simultaneously, lead developer Shytoshi Kusama conveyed optimism in light of the partnership, highlighting “Shiba Inu as a cornerstone for next-gen infrastructure. This ‘Partnership’ will redefine how governments, businesses, and citizens collaborate in a transparent, eco-friendly digital framework,” the lead developer added. Coupled with the recent SHIB burn surge, this development set off bullish waves surrounding the meme coin’s price ahead.
Shiba Inu Defies Broader Volatility
At the time of reporting, SHIB price witnessed a 7% pump and is currently sitting at $0.0000163. The coin’s 24-hour low and high were $0.00001524 and $0.00001669, respectively.
Intriguingly, Shiba Inu defied the broader crypto market’s recent volatile trend, trading prominently in the green. This price movement reflects bullishness amid SHIB burn surge and the recent UAE partnership.
Also, a recent SHIB price analysis by CoinGape revealed that further gains loom as the MVRV moves deep into the Opportunity Zone. Notably, this bullish factor could fuel double-digit gains ahead, per the analysis. Market watchers continue to extensively eye the coin for further price action shifts.
Coingape Staff
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.
Cardano founder Charles Hoskinson has provided optimism for the crypto community amid the recent market crash. Hoskinson asserted that 2025 is crypto’s year despite this setback and explained why he holds such a belief.
Cardano Founder Explains Why 2025 Is Crypto’s Year
In an X post, Charles Hoskinson asserted that 2025 is crypto’s year. This came as the crypto founder gave an idea of how big the upcoming bull market will be for crypto.
The Cardano founder noted that the market had just absorbed a downturn that was larger than FTX and Luna’s collapse and has already nearly recovered. He also alluded to the liquidations recorded earlier in the week with $710 billion in losses and 740,000 traders liquidated in 24 hours.
Indeed, billions of dollars were wiped from the crypto market between Sunday and Monday earlier this week as traders offloaded their coins following Donald Trump’s tariffs on Canada, Mexico, and China.
However, as Hoskinson indicated, the crypto market showed strength in how it quickly reversed following the agreement between the US, Canada, and Mexico to halt these tariffs for one month.
The Bitcoin price, which had dropped to as low as $91,000 amid the crash, quickly rebounded and reclaimed $100,000 following the pause on these tariffs. Altcoins also showed strength with the Cardano price, which is one of the cryptos that recorded major gains following the market rebound.
Some Bullish Fundamentals For The Crypto Market
Several bullish fundamentals support the Cardano founder’s claim that this upcoming bull market will be huge for crypto. For instance, Donald Trump’s Crypto Czar, David Sacks, assured that he and his team are evaluating the possibility of creating a Bitcoin reserve.
The crypto market will also gain regulatory clarity as the US Securities and Exchange Commission (SEC) has set up a crypto task force. The task force will focus on clarifying the application of federal securities laws to the digital asset industry.
Ripple’s CEO Brad Garlinghouse also recently commented how Sacks and his team committing to passing legislation for crypto clarity is 100% a big deal. It is worth mentioning that Senator Bill Hagerty introduced the GENIUS bill yesterday, which is aimed at regulating stablecoins in the US.
From A Technical Perspective
From a technical perspective, crypto analysts have backed the Cardano founder’s claims as they predicted that the Bitcoin price and, ultimately, altcoins would rally higher.
Crypto analysts like Titan of Crypto have predicted that the Bitcoin price could rally to as high as $160,000 this year. Titan of Crypto recently asserted that the Bitcoin bull market is still intact. He further remarked that as long as BTC holds a monthly close above the 38.2% Fibonacci retracement level, the bullish trend remains valid.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
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.
The $3.25 trillion crypto industry is on the cusp of a significant recovery following a massive market crash. Aligning with the broader market trend, the ONDO price is also poised for a dramatic breakout.
Notably, the potential surge of the ONDO token could be mainly attributed to Ondo Finance’s recent launch of Ondo Global Markets (Ondo GM). While the real-world asset tokenization platform’s initiative envisions tackling the challenges of the traditional securities landscape, it could significantly boost the ONDO price.
ONDO Price Set for a 3x Surge
Crypto analyst World of Charts predicted via his recent X post that the ONDO price could skyrocket by 2-3x. According to the analyst, the ONDO token’s growth would coincide with the broader crypto market’s uptrend after the recent crash. The chart presented by the analyst showcases the possibility of ONDO hitting $3.4 soon.
Reflecting on World of Charts’ predictions, another analyst, known on X as Easy, forecasted that the ONDO price would reach $3 if it crosses $1.5. However, if the token fails to surge past $1.3, ONDO may fall back to $1.
What Triggers ONDO’s Potential Upsurge?
In a recent development, Ondo Finance announced the launch of Ondo Global Markets (Ondo GM), a blockchain-based platform that brings traditional financial markets on-chain, enhancing accessibility and efficiency. The initiative has highly influenced the ONDO price, which targets even an ambitious mark of $5 this year.
The platform intends to address conventional issues like high fees, limited access, transaction difficulties, and other risks inherent to the traditional securities market. The move follows Ondo Finance’s alliance with Ripple to launch its tokenized US Treasury fund, OUSG, on XRP Ledger (XRPL).
In an official blog post, Ondo Finance stated,
The current investing experience is broken. High fees, limited access, transfer frictions, platform fragmentation, and hidden risks create barriers for both investors and the companies that serve them.
Ondo Finance Witnesses Major Developments
Recently, Ondo Finance introduced Ondo Nexus, a project aimed at enhancing liquidity for tokenized Treasuries issued by third parties. The initiative drove the ONDO price to $1.38, marking a 15% hike.
In addition, the first-ever ONDO Summit will be streaming live from New York on February 6, 2025. These developments could significantly drive the ONDO price to new highs.
As of now, the ONDO price is at $1.43, marking a marginal loss of 0.30%. Despite a weekly gain of 3.2%, the token has experienced a 6% dip over the last month.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
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.
Elon Musk was appointed to improve government efficiency. And he says he’s going to do it by putting the US treasury on the blockchain.
At least half of the US thinks this is a terrible idea – but for crypto adopters, it could be just the thing to propel the market to new heights.
Let’s see how Musk’s radical vision for the US treasury could cause the $BEST presale to soar in a potential bull run.
Blockchain the Treasury, Can It Be Done?
The US government budget for 2025 totalled roughly $1.5T, and virtually all of it runs through the US treasury.
If Elon Musk can find a way to put the entire treasury – all social security payments, federal employee wages, government aid, the whole thing – onto the blockchain, then the treasury would instantly possess the second-biggest ‘market cap’ in crypto. Only Bitcoin would be bigger.
It’s not an exact comparison, of course, but it shows just how seismic a shift this move represents.
From Musk’s standpoint, a public ledger would instantly remove a lot of the cloak-and-dagger aspects of the national budget and treasury. Payments could be tracked more easily, and transparency would instantly improve.
More importantly, crypto adoption would explode overnight. Over 3M people work for the US government – and all of them would be forced to use crypto.
Increased Adoption Sends $BEST Presale Sky-High
The more people who use crypto, the better for everyone in the crypto economy. Bitcoin will benefit, Musk’s beloved Dogecoin will too (possibly also sending new meme coins on a run), and upcoming projects with utility and potential could go sky high.
As increased crypto adoption pushes demand for crypto wallets, one of the fastest-growing crypto wallets, Best Wallet stands to benefit.
The Best Wallet ecosystem lets even beginner crypto users jump into using Best DEX (decentralized exchange) and Best Card, making crypto simpler than ever.
Now, the $BEST token supercharges Best Wallet’s already compelling benefits.
Upcoming Best Wallet updates will even allow investors to follow select presales, purchase tokens, and claim them all within the Best Wallet app.
$BEST holders also receive higher staking rewards for tokens held in Best Wallet, and reduced transaction fees.
The Best Wallet Token presale just passed the $9M mark; visit the $BEST presale page here to secure your tokens for $0.023875 before the next price increase.
Get Best Wallet, hold $BEST, earn rewards, and integrate seamlessly with the entire crypto economy – including, potentially, the US treasury itself.
Trump to Launch Next Crypto Boom?
Trump is making pro-crypto moves across the board.
While Musk talks about taking the treasury onto the blockchain, the Securities and Exchanges Commission is dialing back enforcement.
It all adds up to a potential crypto boom in the US, with adoption, development, and crypto-friendly initiatives all in overdrive.
Crypto presales like the $BEST token are poised to be in the right place at the right time for max gains. Do your own research, of course; none of this is financial advice, and the crypto market is always volatile.
That said, these are undeniably exciting times for crypto.
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