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The cryptocurrency market experienced a whirlwind of action over the week. From Shiba Inus burn rate skyrocketing to the influx of Kissinger-themed tokens, the digital currency landscape was anything but dull. Heres 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.
See Also:Dogecoin Killer Shiba Inu Burn Rate Skyrockets 10,000% Thanks To This Good Samaritan
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 analysts 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.
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