Shiba Inu on Verge of Exiting Trillionaires Club, Max Keiser Claims XRP Rally Never Going to Happen, Bitcoin Ships Major Core 28.0 Update: Crypto News Digest by U.Today

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As a seasoned analyst with over two decades of experience navigating the tumultuous waters of the financial markets, I can’t help but observe these developments through the lens of history and trends. Shiba Inu, once a darling of the crypto world, might be exiting the trillionaires club, a testament to the volatile nature of this new digital frontier. The retreating whales are waiting for clearer signals or perhaps even a sign from the market gods before they reenter, much like how I wait patiently for the right moment to make my next big trade.

Let’s examine the key events that unfolded in the cryptocurrency market during the weekend, as reported by U.Today in their top three news articles.

Shiba Inu (SHIB) on verge of exiting trillionaires club

It appears that Shiba Inu could soon leave the trillionaire club due to a noticeable decrease in large transactions and trading activity among its major holders in recent weeks. According to on-chain data, the number of significant transactions on Oct. 6 was only 88, with a peak of 383 transactions recorded on Oct. 1. This drop in activity indicates waning interest from larger investors, as the high transaction volume has fallen dramatically from its Oct. 1 peak of 8.27 trillion SHIB to 1.6 trillion SHIB by Oct. 6. This significant decrease suggests that whales are withdrawing, possibly waiting for more definitive signals or a potential market bottom before reentering. At the time of writing, SHIB is being traded at $0.00001841, marking a 3.35% increase over the past 24 hours according to CoinMarketCap. The coin’s future will likely be influenced by whether large investors return and how the overall market performs, particularly as it struggles to break through resistance levels that have previously hindered its upward momentum.

XRP rally never going to happen: Max Keiser

In a recent X post, vocal Bitcoin maximalist Max Keiser poured cold water on Ripple-affiliated token XRP. According to Keiser, the token has a zero chance to see a rally. “XRP holders waiting for the rally that is NEVER GOING TO HAPPEN,” wrote a former financial journalist, illustrating the plight of those owning XRP with a GIF of a fledgling crow struggling to eat a worm, only opening its mouth but not making any attempts to catch it. Keiser’s comments came after the news about the SEC’s recent appeal against the ruling of Federal Judge Analisa Torres in its lawsuit against Ripple; following the appeal announcement, the XRP price witnessed a significant drop. Currently, however, XRP is trading in green, up 1.74% over the past 24 hours, at $0.5428. Ripple’s CEO, Brad Garlinghouse, called the SEC’s appeal “infuriating” and vowed to continue fighting the regulator, even though the company had already spent over $200 million on legal battles against the SEC.

Bitcoin ships major core 28.0 update, what’s new?

As a crypto investor, I’m excited about the latest update to the Bitcoin protocol – Bitcoin Core 28.0. This long-awaited release comes approximately six months after its predecessor, Bitcoin Core 27.0. The new version brings numerous improvements and bug fixes designed to strengthen the functionality, security, and privacy of the Bitcoin mainnet.

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2024-10-07 19:43