From 'Dogecoin Killer' Shiba Inu's Burn Rate Surge To Bitcoin's ETF Approval And Possible BTC Boom: Crypto Weekend Roundup

The cryptocurrency market experienced a whirlwind of action over the week. From Shiba Inu’s burn rate skyrocketing to the influx of Kissinger-themed tokens, the digital currency landscape was anything but dull. Here’s a recap of the top stories:

Shiba Inu Burn Rate Skyrockets – Shiba Inu SHIB/USD, the self-proclaimed ‘Dogecoin killer,’ saw its burn rate amplify by an impressive 500% in a single day. An estimated 83 million SHIB tokens disappeared from its supply, indicating a sudden and calculated move by holders to shrink the coin's supply. An unidentified entity reportedly incinerated 82 million SHIB tokens within a mere half-hour. Read the full article here.

Death Spurs Kissinger Tokens – Following the death of the 100-year-old former U.S. Secretary of State, Henry Kissinger, at least 9 tokens were created in his name. These Kissinger-themed coins attracted over $307,000 in trading volume. A wrapped Ethereum ETH/USD token led the pack, soaring over 5,700% within an hour of its introduction on Uniswap. Read the full article here.

Bitcoin ETF Decision Looms – Scott Johnsson, a general partner at Van Buren Capital, has outlined an “official” date range for when regulators might greenlight Spot Bitcoin Exchange-Traded Funds (ETFs). Based on information from Sherry Haywood of the U.S. Securities and Exchange Commission, approval is anticipated between Jan. 5 and Jan. 10, 2024. Read the full article here.

Crypto Market Braces for Shift – A pseudonymous cryptocurrency analyst predicts a gradual decline for several prominent cryptocurrencies, including Solana SOL/USD, Chainlink LINK/USD, Avalanche AVAX/USD and the decentralized finance (DeFi) token Rune RUNE/USD. The analyst’s focus was on specific technical indicators, particularly the .382 Fibonacci retracement levels and the 200-day Exponential Moving Averages (EMAs) on the four-hour charts. Read the full article here.

Predicting a Bitcoin Boom – Bitcoin BTC/USD, Chainlink, Ocean Protocol, and Polkadot could witness significant price movements, analysts suggest. Bitcoin is projected to reach $524,000 over the next four years based on its historical performance during its halving cycles, according to a forecast from on-chain analyst PlanB. Read the full article here.

Stay tuned for more updates from the ever-evolving world of cryptocurrencies.

Cryptocurrency Photo by SvetlanaParnikova on Shutterstock

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