Elon Musk's Hedgehog Meme Coin 'SHRUB' Skyrockets, Cathie Wood Sets Ambitious Bitcoin Price Target, Industry Expert Predicts 'Euphoria' Stage For Market And More: Top Crypto Updates This Week

The week was filled with noteworthy events in the world of cryptocurrencies. From the rise of new meme coins to ambitious price forecasts, the crypto market continues to surprise and intrigue. Here’s a quick recap of the top stories that made headlines.

Trump’s AG Pick Gaetz Suggested Bitcoin for Federal Income Taxes

President-elect Donald Trump’s nominee for attorney general, Rep. Matt Gaetz, is known for his unconventional ideas, particularly concerning cryptocurrencies. Earlier this year, Gaetz proposed a bill that would allow federal income tax payments to be made in Bitcoin BTC/USD, potentially revolutionizing the way taxes are collected in the U.S. Read the full article here.

Musk’s Hedgehog Meme Coin ‘SHRUB’ Skyrockets

Elon Musk’s latest pet, a hedgehog named Shrub SHRUB/USD, has inspired a new meme coin. Shrub saw a staggering increase of over 3,300% in just one week as of Thursday, with its valuation soaring past $100 million. This surge followed a tweet by Musk introducing his pet hedgehog to the world. Read the full article here.

See Also: If You Invested $100 In Pepe Coin At Launch, Here’s How Much You’d Have Today

Cathie Wood’s Bitcoin Price Target for 2030

Ark Invest CEO Cathie Wood has been a long-time advocate for Bitcoin. She recently shared her price target for the leading cryptocurrency, predicting it could reach as high as $3.8 million by 2030. If her forecast comes true, a small investment in Bitcoin today could yield significant returns in the future. Read the full article here.

Millionaire BONK, DOGE Trader Shares Insights

Known as the ‘BONK guy,’ millionaire trader Unipcs recently shared his journey in meme coin trading. He emphasized that trading meme coins isn’t as easy as it’s often portrayed, requiring patience and conviction to withstand extreme volatility. His long-term position in Bonk BONK/USD and successful trades with Dogecoin DOGE/USD are a testament to his strategy. Read the full article here.

Industry Expert Predicts ‘Euphoria’ Stage for Crypto Market

Jason Yanowitz, co-founder of Blockworks, believes the cryptocurrency market is about to enter the ‘Euphoria’ stage, the most exciting phase of a four-stage bull market. This phase could see some coins nearing their all-time highs. Read the full article here.

Read Next: Here’s How Much $100 In Bitcoin Could Be Worth In 2030 If Cathie Wood’s Price Target Is Reached

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This story was generated using Benzinga Neuro and edited by Anan Ashraf.