Altcoin
Shiba Inu Burns Slow To A Crawl With Only 2 Transactions In 24 Hours, What’s Happening?
After a slow start to the week, Shiba Inu’s burn activity has sprung back to life with a 33% spike in the last 24 hours, according to data from Shibburn.com. The jump comes amid a noticeable dip in the number of SHIB burn transactions, which raises the question of whether these burns can have any effect on Shiba Inu’s struggle to transition away from selling pressure.
Small But Noteworthy SHIB Burn Amid Sluggish Market Conditions
The Shiba Inu burn metric is one of the most essential factors in determining the sentiment surrounding the meme coin. The latest burn activity has seen a total of 18,684,231 SHIB permanently removed from circulation in the past 24 hours, translating to a 33% increase from the previous 24-hour period. These burns were delivered through four separate transactions, the most significant of which involved 16,035,545 tokens sent to a burn address. This was followed by three smaller burns of 1,070,154, 788,643, and 789,889 SHIB, respectively.
Although these figures are modest compared to past high-volume burn sessions, they are notable, considering how subdued SHIB burns have been in recent days. Notably, SHIB’s burn rate remained unusually stagnant throughout this week. Current crypto market sentiment played a considerable role in this slow down in burns, with the Shiba Inu price essentially declining for the majority of the week. Therefore, the sudden 33% jump raises questions of whether this is a one-off spike.
Burn Rate Falls Short Of Meaningful Tokenomic Impact – Bullish Technical Signs?
Even with the 33% boost, the current SHIB burn rate is far too small to have a transformative effect on the token’s supply dynamics. Shiba Inu currently has a supply of over 500 trillions tokens, making these burn volumes a drop in the ocean. As such, the Shiba Inu tokenomics will likely remain unchanged at the current rate without sustained and exponential increases in daily burns.
In terms of price action, the Shiba Inu price has been tethered to the $0.0000125 and $0.000013 range. Despite this, some analysts remain optimistic.
One analyst pointed to a bullish ascending triangle forming on SHIB’s chart and predicted that the meme coin is ready to bounce off the lower trendline of this triangle and push to new highs. This outlook is most likely in reaction to Shiba Inu’s recent double bounce on support at $0.0000125.
If it holds this level and successfully pushes through the resistance at $0.000013, momentum could begin to shift back in favor of the bulls. A healthy and continuous burn rate, while not a miracle solution, could contribute to this recovery by creating positive sentiment.
At the time of writing, Shiba Inu is trading at $0.00001272, down by 1% in the past 24 hours. Shiba Inu’s trading volume is also down by 14.5% in the same timeframe, according to data from Coinmarketcap.
Featured image from DALL-E, chart from TradingView
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Curve Finance founder Michael Egorov sparked a tidal wave of speculation across the market with his recent selloff strategies. On Wednesday, March 26, Egorov again dumped nearly 2M CRV tokens, bringing his total selloffs to roughly 2.5M coins this week. Therefore, broader aspects surrounding the coin’s future price action remain clouded in an enigma despite an ongoing rally.
Curve Finance Founder Offloads Coins Amid Price Rally
CRV price is currently on a rally, as indicated by intraday and weekly gains of 12% and 23%, respectively. However, Egorov’s selloff transactions amid this upswing have sparked market concerns about a looming dip.
How Many Tokens Have Been Sold?
According to data from Spotonchain on X, the Curve Finance founder transferred 1.997 million tokens worth $1.03 million to the wallet address “0x5a8.” Subsequently, this address sold 1 million coins for 515,058 USDC at an average price of $0.515. Currently, this address still holds 997K tokens.
Besides, Egorov sold 468,769 tokens for 238,171 USDC at an average price of $0.508, per March 24 data.
Why Were The CRV Tokens Sold?
Intriguingly, he purchased these tokens as of mid-December last year at an average price of $1.114. The initial investment made is now at a loss of 54.6%.
While the selloffs come amid a price rally, they might be a potential move to mitigate losses incurred. Nevertheless, broader market sentiments in light of these selloffs remain bearish.
CRV Price Overview
As of press time, Curve DAO coin’s price defied usual market sentiments and pumped 12%, reaching $0.5560. The coin saw a massive pump after hitting a $0.4927 low intraday.
Market analyst ‘CrediBULL Crypto’ posted on X, revealing bullish projections despite the crypto’s sluggish performance. As per the analyst, the CRV/XRP pair indicates a breakout for the Curve Finance token looms.
Considering XRP is still trapped in a range where it is looking for deviation below the lows, CRV is ready to pump, per the analyst. Market watchers reflect an uncertain approach towards the crypto amid recent developments that are unable to clear the muddy waters.
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.
As the XRP lawsuit reaches a significant milestone, questions still linger around Ripple’s institutional sales. In a surprising development, Ripple has withdrawn its cross-appeal in the ongoing SEC case, leaving the status of the injunction unclear. While many believe that Ripple could resume its institutional sales if the SEC lifts the injunction, experts argue about the possible compliance conditions.
Notably, XRP lawyer Bill Morgan shed light on the implications of the latest developments on Ripple’s future institutional sales. Let’s analyze expert statements on the Ripple lawsuit settlement and its potential impact on the crypto industry.
Will XRP Lawsuit Settlement Revive Institutional Sales?
In a recent development, Ripple dropped its cross-appeal in the long-held XRP lawsuit. Despite this move, the fate of the injunction and Ripple’s institutional sales remain uncertain.
Reflecting on the matter, XRP lawyer Bill Morgan shared an X post. He shed light on the possible changes Ripple must make to its institutional sales approach. Rispoli stated that Ripple must change its sales approach even if the injunction is lifted.
Though the platform could resume its sales to institutional investors, an alternative strategy is needed to comply with Judge Analisa Torres’ ruling. The judge previously ruled that Ripple’s initial method of institutional sales constituted an investment contract.
Ripple’s Injunction and Institutional Sales
Following Ripple CEO Brad Garlinghouse’s revelation that the platform dropped its cross-appeal against the US SEC, attention turned to the potential lifting of the injunction. Reportedly, the SEC will petition the court to lift the injunction it previously obtained against Ripple in the XRP lawsuit.
In response to this major development, WrathofKahneman, a prominent voice on the X platform, drew the community’s attention to the SEC’s injunction. Rispoli stated that if the injunction is lifted, Ripple can reinstate its institutional sales. Adding more clarity to the statement, he noted,
So to clarify, as I understand it, there will be no more restrictions on Ripple’s institutional XRP sales. They still must conform to securities law but can now sell to say, hedge funds or private equity firms directly instead of to OTC desks first.
XRP Lawsuit Settlement Draws Community Attention
Significantly, the XRP community is overwhelmed by the Ripple lawsuit settlement. Despite speculations about a delayed resolution, the case is about to end. Amidst lingering uncertainty surrounding institutional sales, Bill Morgan and Fred Rispoli shed light on the implications of this development.
Rispoli shared a thought-provoking question: “But if a tree sells unregistered securities in a forest and no SEC is there to prosecute it, did the tree do anything illegal?”. His words spark an interesting discussion about the nature of legality and regulation in the context of securities law.
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.
Altcoin
Dogecoin Foundation’s Corporate Arm Launches Official DOGE Reserve With Massive Purchase, Here’s What We Know
The Dogecoin Foundation’s recently formed corporate division, House of Doge, has announced a groundbreaking initiative to strengthen Dogecoin’s role as a global payment solution. In a bold move, this corporate and commercialization arm launched an official DOGE reserve with the massive purchase of 10 million DOGE.
House Of Doge Establishes Dogecoin Reserve
On March 24, 2025, House of Doge took to X (formerly Twitter) to announce the official launch of its new Dogecoin Reserve. To kickstart this initiative, the organization has purchased over 10 million DOGE tokens worth approximately $1.84 million at current market rates.
With this new development, DOGE can steadily become a globally recognized digital currency, overcoming the key challenges that have hindered its adoption in everyday transactions. By maintaining a Dogecoin Reserve, the House of Doge intends to ensure that the popular meme coin can be easily used for real-world payments, making it a viable alternative to other digital currencies and traditional payment methods.
The new Dogecoin Reserve serves as a major milestone and key pillar in House of Doge’s long-term vision for making the meme coin a widely accepted currency and payment solution for businesses and consumers. One of the greatest hurdles cryptocurrencies face in their journey towards global adoption is transaction speed.
House of Doge has indicated its intention to eliminate these delays to facilitate seamless and efficient large-scale transactions, ensuring that merchants can accept Dogecoin for instant payments at checkouts. The corporate arm has also disclosed that it aims to make DOGE a fast, trustworthy, and scalable payment network for global use.
Commemorating the launch of the Dogecoin Reserve, Michael Galloro, a member of the Board of Elect of the House of Doge, stated: “With a strategic reserve, the House of Doge is laying the foundation for a payments ecosystem that ensures liquidity, stability, and reliability.”
Galloro also noted that through the DOGE reserve, the House of Doge can finally overcome the gap between transaction processing times and real-world usability, making Dogecoin increasingly practical for everyday use and ultimately boosting its utility.
Strategic Partnerships To Drive DOGE‘s Global Adoption
House of Doge isn’t stopping at creating a Dogecoin reserve. The corporate arm is preparing to roll out strategic partnerships with major payment processors to strengthen and reinforce Dogecoin’s real-world utility as a global payment solution.
These partnerships will help demonstrate that DOGE can easily handle high transaction volumes from merchants and consumers. They will also show the scalability of this meme coin, boosting its adoption and recognition.
House of Doge has also revealed a shared vision with Satoshi Nakamoto, the pseudonymous creator and founder of Bitcoin. The organization’s vision is rooted in the origins of crypto, which is stated to be a peer-to-peer electronic cash system that is efficient, accessible and free from centralized control. Moreover, the House of Doge aims to build upon this legacy and strong foundation to ensure that DOGE can be at the forefront of mainstream commerce.
Featured image from iStock, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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