Trump Against CBDC, Shiba Inu's Whale Transaction Volume Soars, Dogecoin Predicted To Hit $5 Mark And More: This Week In Crypto

The cryptocurrency world was anything but dull this week. Major developments, from a surge in Shiba Inu whale transactions to significant liquidations of long crypto positions, kept the market on its toes. Meanwhile, former President Donald Trump pledged his stance against Central Bank Digital Currencies, while a crypto analyst made a bold prediction for Dogecoin’s future. Lastly, Edward Snowden couldn’t resist taking a jab at JP Morgan’s CEO over his Bitcoin comments.

Shiba Inu’s Whale Transaction Volume Soars

Despite a 4.3% dip on Thursday, Shiba Inu SHIB/USD witnessed a significant increase in large transaction volumes, jumping from 902.36 billion SHIB on Jan. 14 to a staggering 5.9 trillion SHIB on January 16. This 551.4% growth was accompanied by a rise in daily transactions, indicating a potentially brighter future for the Dogecoin rival. Read the full article here.

Massive Crypto Long Liquidations

Major cryptocurrencies took a hit as over $200 million worth of long positions were liquidated over 24 hours on Thursday. Bitcoin longs worth over $65 million were liquidated, while Ethereum ETH longs saw over $27 million liquidated. Read the full article here.

See Also: Trump’s Niece Says Ex-President Faces Prospect Of Another Multi-Million Dollar Judgement In 2nd Defamatio

Trump’s Vow Against CBDCs

Former President Donald Trump made a strong statement against adopting a Central Bank Digital Currency in the United States. He pledged to “protect Americans from government tyranny” and vowed to never allow the creation of a CBDC. Read the full article here.

Dogecoin’s Potential Moonshot

An anonymous crypto analyst predicted an astronomical rise for Dogecoin DOGE/USD. The meme cryptocurrency could potentially reach the $5 mark, a staggering 6000% increase from its current value. Read the full article here.

Snowden’s Bitcoin Banter

Edward Snowden, the former NSA contractor, took a playful jab at JP Morgan’s CEO, Jamie Dimon, following the SEC’s approval of a Bitcoin BTC/USD ETF. Snowden’s tongue-in-cheek tweet highlighted the CEO’s changing stance on Bitcoin. Read the full article here.

Read Next: Plug Power Stock Is Hitting New 52-Week Lows: What’s Going On?

Photo by SvetlanaParnikova on Shutterstock