SHIB Lead Shytoshi Kusama Makes Bullish Shibarium Announcement, XRP Made Strong Comeback, 3 Trillion SHIB Sent to Robinhood Amid 12.2% Price Surge: Crypto News Digest by U.Today

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As an experienced financial analyst, I find these top news stories from U.Today quite intriguing. Let me share my perspective on each one based on my knowledge and experience.

Here are the top three news stories over the past day presented to you by U.Today.

Shytoshi Kusama explodes SHIB army with bullish Shibarium announcement

The Shiba Inu team, represented by the X handle on May 15, declared the launch of ShibaSwap decentralized exchange on Shibarium’s layer-2 solution. The SHIB team shared details about ShibaSwap’s new features, including its functionality on both Ethereum and Shibarium blockchains and the formation of new liquidity pools on Shibarium. Following this announcement, Shytoshi Kusama, lead of Shiba Inu, acknowledged his team’s impressive accomplishments, specifically mentioning Kaal Dhairya’s contributions in making ShibaSwap a reality on Shibarium. Kusama encouraged SHIB supporters to stay informed as there are more exciting developments to come. Meanwhile, Dhairya echoed this sentiment, emphasizing the team’s commitment to consistently releasing updates and improvements throughout Shiba Inu’s ongoing journey.

XRP made strong comeback

As a crypto investor, I’ve noticed an encouraging development in the XRP market. After making a substantial recovery, XRP has re-entered a previously invalidated descending triangle pattern. While this technical formation usually signals bearish trends, its return implies that XRP bulls might attempt to alter the asset’s current trajectory.

3 trillion SHIB mysteriously sent to Robinhood amid 12.2% price surge

Yesterday, May 16, saw a staggering transfer of Shiba Inu tokens worth approximately $75 million, or 3,000,000,000,000 SHIB, from an anonymous whale to Robinhood. This transaction took place as the value of the meme crypto surged by 12% within a day, fueled by the long-awaited announcement of ShibaSwap’s launch on Shibarium. The increased whale activity this week was further emphasized by Cumberland, a significant crypto trading firm, transferring 144 billion SHIB worth $3.3 million to Coinbase on May 15. Previously, 50.36 billion Shiba Inu tokens were deposited onto OKX. In total, whales moved around 1.5 trillion SHIB in a single day this week, with most of these transactions involving amounts between 42.6 billion and 397 billion SHIB being sent to major cryptocurrency trading platforms such as Binance, Coinbase, Gate.io, and others. At present, SHIB is trading at $0.00002501, marking a 2.83% increase in value.

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2024-05-17 19:47