Ethereum
Crypto News Digest by U.Today
Valeria Blokhina
U.Today’s daily news digest keeps you informed with the most important updates in the crypto industry.
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U.Today presents the three main news stories of the past day.
3 Key Things to Expect from Shiba Inu (SHIB) This Week
After a worrying pullback that occurred over the weekend, Shiba Inu managed to enter a slight rebound: according to data from CoinMarketCap, at the time of publication, the meme coin is up 0.96% over the past 24 hours and is trading at $0.00002594. The main goal of Shiba Inu investors remains to cross the $0.00003 price level, and here three factors it can make this happen. The first catalyst is burn rate, which serves as a key indicator of interest within the community. According to Shibburn, in the last 24 hours only 1,825,285 SHIBs were burned; however, this small amount does not cancel out the impact, that is, the users’ trust in the project. Second, it is worth paying close attention to the mood of retailers this week. If SHIB wants to reach the predicted price, its volume must remain high for the entire week. Third, SHIB whale activities also play an important role in achieving a multi-week growth record. According to data from IntoTheBlock, SHIB whales are currently in hibernation mode, with a 36.96% drop in activity during the night.
Ethereum (ETH) rally imminent? Analyst predicts new all-time high
As prominent crypto analyst Jelle recently pointed out, Ethereum is demonstrating strong signs of an imminent gathering. In his Message, Jelle wrote that ETH broke out of the falling wedge and flipped its key areas into support. Today, Jelle continued, Ethereum is targeting $4,000 before potentially hitting a new all-time high. At the moment, the asset is changing hands at $3,900, down 0.56% in the last 24 hours. Ethereum’s recent price rally and optimistic outlook for its future can be attributed to several factors, the main one being the SEC’s approval of Ethereum spot ETFs. The approval of Ethereum spot ETFs is expected to attract substantial institutional investment, opening a new channel of exposure to Ethereum for institutional and retail investors. This development is expected to lead to increased demand and liquidity in the market, which will support the upward price momentum.
Crucial DOGE-Tesla recall issued by insider
Following frequent cases of scammers spreading misinformation regarding Tesla, an electric car manufacturing company, and crypto, user @cb_doge social networks to do an important statement. DogeDesigner recalled the crypto community that the only digital asset accepted by Tesla is Dogecoin. DOGE enthusiasts greeted the statement with a wave of positive comments, with some of them expressing hope that one day they will be able to buy not only Tesla products, but also an electric car and some other “goodies”. As a reminder, DOGE was first accepted by Tesla in January 2022 on an experimental basis. Since then, customers can use DOGE to purchase Tesla products on the company’s online store. A few months later, SpaceX also began selling its products for DOGE. In May this yearDogecoin has been officially added as a payment option on the Tesla website.
About the Author
Valeria Blokhina
Valeria is the Community Manager at U.Today. She is passionate about crypto and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news from the world of crypto and blockchain.