According to U.Today, the Shiba Inu team recently commemorated a significant event in the project's history. Three years ago, in May 2021, Ethereum co-founder Vitalik Buterin sent 410 trillion SHIB tokens, worth approximately $6.7 billion at the time, to a dead wallet, permanently removing them from circulation. This was part of a gift from Shiba Inu founder Ryoshi, who sent Buterin 50% of the total SHIB supply. The 410 trillion SHIB represented 90% of the amount sent to Buterin, with the remaining 10% donated to charity. The commemoration post on Shiba Inu's official X handle gained significant attention, with 270,000 views and 2,100 likes, indicating the SHIB community's continued interest in this pivotal moment in the project's history.
In other news, James K. Filan, a defense lawyer closely following the Ripple-SEC lawsuit, provided an update on the case. Ripple has filed a reply letter in support of its motion to seal documents related to the SEC's motion for judgment and remedies. Ripple stated that it is no longer selling XRP tokens through over-the-counter transactions. Legal analyst and digital asset enthusiast Bill Morgan responded to Filan's post, stating that Ripple's statement is a significant setback for those who believe Ripple suppresses the XRP price by dumping tokens on retail investors.
Lastly, a prominent crypto analyst, Jelle, issued a prediction on Ethereum's future price trajectory. According to Jelle, Ethereum, the world's second-largest crypto by market cap, is continuing to follow the falling wedge pattern. He suggested that there might be a few more days of fluctuations below the current local highs before the next upward movement. Jelle also hinted that some ETF news next week could potentially push Ethereum's price beyond $4,100 and possibly even to all-time highs. At the time of writing, Ethereum is trading at $3,760, down 0.41% over the past 24 hours, but has increased by 25.58% over the past 30 days. This bullish outlook is further supported by the latest regulatory developments in the U.S. concerning Ethereum spot ETFs.
