Trump-Inspired MAGA Coin Shines, Bitcoin Advocate Predicts Market Crash, 'Dogecoin Killer' Shiba Inu's Burn Rate Soars And More: Top Crypto Updates This Week

The crypto market had quite a week, marked by a flurry of interesting developments. From the rise of the meme coin MAGA to Max Keiser’s ominous market crash prediction and the burn rate spike of Shiba Inu, there was no lack of excitement. Additionally, Dogecoin found a new ally in luxury car maker Ferrari, while Edward Snowden once again threw his weight behind Bitcoin.

Trump-Inspired MAGA Coin Outshines Dogecoin, Shiba Inu

A new meme coin, MAGA TRUMP/USD, saw a remarkable 20% surge over the last 24 hours, overshadowing established players such as Dogecoin DOGE/USD and the so-called ‘Dogecoin Killer’, Shiba Inu SHIB/USD. Both DOGE and SHIB only managed a 2% increase on Friday, while MAGA is currently trading at $3.63. The MAGA coin was launched in August, aiming to "Make Crypto Great Again." Read the full article here.

Max Keiser Foresees A Market Crash and Bitcoin Boom

Bitcoin advocate Max Keiser has warned of an impending market catastrophe akin to the 1987 crash. In a tweet, Keiser predicted that Bitcoin, deemed the ultimate safe haven, will surpass the $500,000 mark. He also suggested that Bitcoin exchange-traded funds (ETFs) and domestic Bitcoin mining operations could face seizures by the US government. Read the full article here.

See Also: Xbox’s Phil Spencer Announces Day-One Release Of All Activision Games On Xbox Game Pass: Is Call Of Duty

Shiba Inu Burn Rate Soars

The Shiba Inu ecosystem saw a dramatic 2,730% increase in the token’s burn rate over the past 24 hours, with a single transaction burning 85 million tokens. The movement of 3 trillion Shiba Inu tokens to entities including Coinbase, Gate.io, Robinhood, and some private wallets was also noted. Read the full article here.

Dogecoin Value Bolstered by Ferrari Acceptance

Dogecoin experienced a 4% value increase, reaching $0.090, following reports that luxury sports car manufacturer Ferrari might start accepting the cryptocurrency as payment. The social buzz around Dogecoin surged, with its social dominance score rising by 125% within a week. Read the full article here.

Edward Snowden Backs Bitcoin

Edward Snowden, the famous former National Security Agency contractor, reiterated his support for Bitcoin BTC/USD, hailing it as the most significant monetary advancement since the creation of coinage. Snowden has previously expressed substantial interest in Bitcoin and often shares his thoughts on the subject. Read the full article here.

Read Next: US Says Houthi Missile Attack On Ship Carrying ‘Tons Of Fertilizer’ Led To ‘Environmental Disaster’ In Red Sea

Image via Shutterstock