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Read about the latest events in the industry in U.Today’s news digest!
U.Today presents the top three new stories over the past day.
SHIB burns skyrocket 2,076% after recent SHIB announcement
Yesterday, as reported by the Shibburn website, the Shiba Inu community succeeded in considerably increasing the SHIB burn rate. By joint efforts, SHIB enthusiasts sent a large chunk of SHIB, which constitutes 40,067,872 SHIB meme coins, to the inferno. Even though the amount of tokens burned is not outstanding, this has driven the burn rate up by a whopping 2,076%. The largest burn incinerated 20,000,000 SHIB, while the second biggest one destroyed 1,693,629 SHIB. The increase in burn rate took place after Lucie, Shiba Inu marketing lead, teased upcoming developments for Shibarium in 2024-2025. The list included ShibaSwap (version 1.75, followed by 2.0), Shibahub, Treat, ShibaEternity P2E, SHIB the Metaverse, K9finance Liquid Staking and Layer-3 testnet.
XRP brutal reversal: 3 price levels to watch
XRP has recently experienced a brutal rejection at the 200 EMA resistance level. Following an attempt to keep stability, XRP had a sharp reversal from the moving average, indicating a potentially problematic period for the asset. At the moment, XRP is trading at $0.52, a strong support level; in the past, nearly every time the token’s price dropped to this level, it has bounced back up. The second price level to watch is $0.47, a longer-term support level. A price decline below this level would pose serious problems for XRP and could signal a deeper and longer-lasting market downturn. The third, yet fragile, price support is located at $0.41 and is considered the last line of defense. If XRP falls to this level, this might lead to a prolonged reversal, which traders hope XRP can avoid. In order to see growth, if XRP is able to hold above these crucial support levels and start rising, it will need to first recover its position above the 200 EMA.
Nearly $500 million in Ethereum transferred to Justin Sun-linked wallet
According to a recent X post by Lookonchain, yesterday, 0x4359, a wallet allegedly linked to TRON founder Justin Sun, withdrew 7,128 ETH worth $22.34 million from the Binance exchange. Additionally, Lookonchain revealed that since April 8, the wallet in question has acquired 154,570 ETH, valued at $492.23 million, at an average price of $3,177. This significant movement of Ethereum has not only brought attention to Sun’s trading activities but also highlighted the bullish sentiment that ETH whales have toward the asset. Despite Ethereum’s recent poor performance on the market, with its price trading at $3,116, down 1.05% down over the past 24 hours, whales like Sun continue to show confidence in the cryptocurrency’s long-term potential.