Altcoin
Exec Draws Parallels Between SHIB & Bitcoin
In a series of bold declarations, Lucie, the marketing lead for Shiba Inu (SHIB), elucidated the striking parallels between SHIB and Bitcoin (BTC). Lucie also described how Shiba Inu is bound to follow the BTC growth trajectory. Moreover, she also unveiled the Shiba Inu ecosystem’s ambitious plans for leveraging SHIB as a governance token.
Shiba Inu’s Lucie Says SHIB Is Akin To Bitcoin
In a post on X, Lucie’s remark traced back to the origin of Shiba Inu, highlighting the features of decentralization synonymous with Bitcoin. In addition, she spotlighted the pivotal moment when the project’s founder, Ryoshi, burned the keys and entrusted the vision to Shytoshi Kusama, emphasizing the profound commitment to decentralization.
Lucie’s statement read, “The Ryoshi – $SHIB founder burned the keys and handed the vision to Shytoshi.” This underscored the project’s ethos of community ownership and decentralized governance. Central to Lucie’s message was the rallying call for action within the SHIB community.
She urged supporters to move beyond mere speculation and actively contribute to the ecosystem’s growth. “The point is to build around SHIB,” Lucie emphasized. In addition, the Shiba Inu marketing lead underscored the importance of building tools around SHIB for expediting token burns.
Furthermore, she added, “No one can stop you because, just like around BTC, EVERYONE can build around $SHIB.” Lucie addressed prevailing skepticism surrounding SHIB’s sustainability and community engagement, rebuffing detractors who labeled the Shiba Inu team as “LEECHES.” She underscored the importance of tangible contributions to the ecosystem.
Also, she urged stakeholders to refrain from spreading false promises and instead focus on meaningful development efforts. “All these projects that tried, give up at the first sign of not getting attention or seeing how unprofitable it is,” Lucie lamented. This statement highlights the need for persistence and resilience in the face of adversity.
Also Read: Just-In: Shiba Inu (SHIB) Bags Nexo Listing, Will SHIB Price Rally?
SHIB’s Long-Term Plans
In a bid to dispel doubts about SHIB’s longevity, Lucie pointed to the project’s impressive performance during the October 2021 surge. She highlighted the robust Shibarium ecosystem, hinting at future plans to integrate SHIB as a governance token. Moreover, Lucie expressed confidence in SHIB’s role as a symbol of decentralization and governance within the burgeoning Shiba state, citing developer Kaal’s vision for the project’s evolution.
Furthermore, Lucie commended the efforts of Shib.io in representing SHIB at prominent events. These initiatives signal a concerted push for global crypto adoption. She extended an olive branch to other ecosystems willing to collaborate and embrace SHIB, reaffirming her commitment as a SHIB holder.
Currently, Shiba Inu serves just as a utility token. However, the ecosystem wants to leverage the best of the benefits of both utility and governance tokens. Hence, the team is rallying forward to make SHIB compatible to the nuances of utility and governance.
Also Read: Cardano (ADA), Shiba Inu (SHIB), XRP Among Top Crypto Flashing Buy Signals
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
XRP Price At Risk As Ripple Moves $250M?
The XRP price has come under the spotlight following Ripple’s recent $250 million XRP transfer. This comes amid bullish predictions for the coin, with analysts saying that its price could enjoy a parabolic rally following Donald Trump’s win.
The XRP Price At Risk With Ripple’s $250 Million Transfer
The XRP price is at risk of a decline following Ripple’s transfer of $250 million worth of XRP to an unknown wallet. Onchain data shows that the crypto firm transferred 470 million XRP to this wallet (rP4X2…sKxv3). This unknown wallet has since transferred 100 million XRP to another wallet (rhWt2…E32hk).
The purpose of the $250 million transfer remains unclear. However, it could relate to Ripple’s On-Demand Liquidity (ODL) services or the ongoing SEC appeal case.
This development comes just a day after XRP whales moved $814 million, indicating whale accumulation. While the Ripple transfer is unlikely to impact the XRP price since it will likely be done over the counter (OTC) if it is a potential sale, it could still create a bearish sentiment among XRP investors.
However, crypto analysts are confident that XRP is currently in bullish territory following Donald Trump’s win in the US presidential elections. The coin could surge up to 3,336% as crypto analyst StephIsCrypto predicted a major above $2 following Trump’s victory.
A Price Surge Above $20 By Year-End
In an X post, Crypto analyst Amonyx made a bold prediction, stating that the XRP price will rise above $20 by year-end. In another X post, the analyst suggested that he was confident that this price surge would happen with the US SEC chair Gary Gensler set to be removed following Donald Trump’s victory.
Gensler’s removal is bullish for the XRP price because he has spearheaded the long-running legal battle against Ripple. The legal battle could have negatively impacted XRP all this time, creating doubts in investors’ minds.
However, with Gensler gone and the Ripple SEC lawsuit likely to end, investors could again become bullish on XRP and look to invest more in the crypto. Crypto analyst Ross Vandermeer also predicted that the XRP price could eventually rise to $1,000 thanks to Donald Trump’s US election victory.
Ripple CEO Brad Garlinghouse recently called on the US president-elect to fire Gary Gensler on day 1, just like he promised. Meanwhile, Ripple chief legal officer (CLO) Stuart Alderoty urged Trump to end the regulation-by-enforcement approach to position the US as the crypto capital.
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
Ripple CLO Reveals How Donald Trump Can Make US The Crypto Capital
Ripple chief legal officer (CLO) Stuart Alderoty has revealed how US President-elect Donald Trump can make the United States (US) the crypto capital. The Ripple CLO statement came as Ripple CEO Brad Garlinghouse outlined his checklist for the Trump administration.
Ripple CLO Reveals How Trump Can Make US Crypto Capital
In an X post, Stuart Alderoty called on Donald Trump to move swiftly to end the regulation-by-enforcement approach that the crypto industry has endured and position the US as the crypto capital of the world.
As the Ripple CLO suggested, the US has been unable to claim the title of crypto capital due to its unfavorable regulatory environment. Regulators like the US Securities and Exchange Commission (SEC) have clamped down on crypto firms instead of providing regulatory clarity.
However, the Ripple CLO believes that is likely to change under Donald Trump. In his post, he also revealed that the president-elect had taken time to listen to Ripple’s story when they met and has also prioritized crypto as a key policy issue.
Indeed, the US president-elect was very vocal about crypto during his presidential campaign, making several promises to the crypto industry. As part of his promises regarding Bitcoin and the crypto industry, Donald Trump said he would fire US SEC Chair Gary Gensler on day one in office.
This is one of the major promises the crypto community is holding on to, considering that Gensler has spearheaded the anti-crypto crusade in the country.
Brad Garlinghouse Outlines Checklist For Donald Trump’s Administration
Before the Ripple CLO’s comments, Ripple CEO Brad Garlinghouse had outlined his checklist for the Trump administration’s first 100 days in office. First, he stated that Trump should fire Gensler on Day 1, just as promised.
In Gensler’s place, Garlinghouse recommended that the president-elect appoint either Christopher Giancarlo or Robinhood CLO Dan Gallagher, as they will be “massive upgrades” in rebuilding the rule of law at the SEC. Galaxy CEO Mike Novogratz also recently mentioned pro-crypto US SEC commissioner Hester Peirce as one of those who could also replace Gensler.
The Ripple CEO also asked Trump to get the US Congress to move the digital asset market structure bill forward in the Senate. Lastly, he asked if they could get some clarity for Ethereum, similar to that of Bitcoin and XRP since they are recognized as non-securities.
While Brad Garlinghouse didn’t endorse any candidate, Ripple CLO Stuart Alderoty and Ripple co-founder Chris Larsen made their stance known through donations. The Ripple CLO donated $300,000 to the Donald Trump campaign, while Larsen donated up to $11 million to Kamala Harris’ campaign.
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
Shiba Inu Burn Rate Rockets 3,700% Sparking Optimism, SHIB To Hit $2?
Amid a remarkably bullish market on Tuesday, the SHIB meme cryptocurrency once again nabbed substantial investor attention by displaying a whopping surge in its burn rate. Recent stats indicate that the Shiba Inu burn rate witnessed a remarkable 3674% uptick, projecting bullish market sentiments on the coin’s future price movements. SHIB price currently trades at the $0.000019 level, with traders and investors eyeing a potential $2 price target in light of recent broader events and a burn rate surge.
Shiba Inu Burn Rate Shoots 3,700% Reverberating Investor Bullishness
As per the latest data from the official tracker Shibburn, the Shiba Inu burn rate witnessed a 3674% upsurge on November 6, underscoring a massive blow to the Ethereum-based meme coin’s supply. According to the data, 53.31 million coins were burnt in the past 24 hours, causing a phenomenal surge in the burn rate. Intriguingly, the wallet address 0x2e2.. was noted to be responsible for the lion’s share in today’s massive burn surge. Per the data, this address burned 28.84 million tokens over the past day.
For context, the token burn mechanism aids in killing the meme coin’s excessive supply, which market watchers believe to be the true reason behind SHIB’s sluggish performance. The phenomenal blow to the supply, as mentioned above, ignited a torrent of optimism among Shiba Inu market participants, adhering to the law of supply and demand.
Meanwhile, recent community developments have further taken the broader market by storm. The coin’s lead developer, Shytoshi Kusama, earlier revealed a S.H.I.B proposal for the U.S. government aiming to turn the country into a crypto valley. The outlined proposal, with a budget plan of $1.3 to $2.35 billion, aims to promote blockchain developments nationwide, with the dog-themed meme coin primarily in focus. Overall, the burn surge, coupled with this recent advancement, has garnered significant optimism on the coin’s future price movements.
SHIB Price Blows Up 6%
At the time of reporting, SHIB price surged nearly 7% intraday and is now trading at $0.00001908. The token’s 24-hour low and peak were $0.00001758 and $0.00001972, respectively. Notably, even the crypto’s intraday trading volume upsurged nearly 200% to $1.16 billion.
Further, Coinglass data underscored a market uptrend for the meme coin today. SHIB futures OI surged nearly 25% to $51.14 million. Moreover, the derivatives volume rocketed roughly 137% to $384 million. Overall, these stats, coupled with the Shiba Inu burn rate surge mentioned above, have paved a bullish path for the coin’s future price movements.
In addition, Donald Trump’s recent victory has fueled a pro-crypto sentiment across the broader cryptocurrency market. In light of this event, a Shiba Inu price analysis showcases that the token could hit $2 amid boosted market sentiment.
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.
-
Market18 hours ago
Celestia and GOAT investors turn to Poodlana to try and recoup losses
-
Market21 hours ago
Traders dump Cardano and IOTA as they move to Vantard
-
Altcoin13 hours ago
XRP Price At Risk As Ripple Moves $250M?
-
Market20 hours ago
Bitcoin Price Back On The Rise as Trump Leads the Pack: Rally to Continue?
-
Altcoin20 hours ago
Trade COW and CETUS with No Fees
-
Market19 hours ago
Why Solana Volume Could Be Key In Driving SOL Price Higher
-
Altcoin24 hours ago
COW And CETUS Prices Rocket After Binance Listing, Will The Rally Sustain?
-
Altcoin18 hours ago
Binance To Delist These Crypto in BTC Trading Pairs
✓ Share: