The past week in the crypto world was a mixed bag of events. From Shiba Inu’s SHIB/USD burn rate skyrocketing to Dogecoin’s DOGE/USD price dipping, there was no shortage of action. Bitcoin BTC/USD also had its moment, teasing the $100,000 mark, while Ethereum ETH/USD experienced a bumpy ride. Here’s a quick recap of the major stories that unfolded over the week.
Shiba Inu Burn Rate Skyrockets
Despite a relatively flat performance for the SHIB/USD pair over the past week, the burn rates for Shiba Inu witnessed a significant increase. Benzinga’s technical analysis indicates an oversold RSI at 28.6 for Shiba Inu, suggesting a potential price rebound or reversal.
Dogecoin Price Dips, Whale Activity Surges
Despite a 4% drop in price, Dogecoin has seen a significant increase in whale activity, sparking speculation of a bullish phase among traders. Javon Marks, a trader, has pointed out historical patterns that suggest Dogecoin could rise beyond the 1.618 Fibonacci Extension level, as it has in previous cycles.
Bitcoin, Ethereum Hold Steady Over Christmas
Leading cryptocurrencies Bitcoin and Ethereum remained steady on Christmas day, holding onto gains made the day before. Bitcoin reached a one-week high of $99,800 during overnight trading, narrowly missing the $100,000 milestone. Ethereum, on the other hand, experienced a wobbly trajectory.
Bitcoin, Ethereum, Dogecoin Pull Back After Christmas Rally
Leading cryptocurrencies witnessed a fall after a festive surge on Christmas gave way to profit-taking. Bitcoin, after teasing the $100,000 mark on Christmas, saw a steep decline, falling to an intraday low of $95,170. Ethereum also dropped to the $3,300 region.
Dogecoin Whales on a Buying Spree
Whale investors purchased a staggering 270 million Dogecoin in less than four days, according to Ali, a prominent voice in the crypto community. The significant investment in Dogecoin was announced on Christmas Eve.
Read Next:
Photo courtesy: Shutterstock
This story was generated using Benzinga Neuro and edited by Anan Ashraf.
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
