Shiba Inu (SHIB) has recently seen a big boost in both its burn rate and market value. In the last 24 hours, the burn rate jumped by 781%, and the price increased by 16%.
This surge shows that there’s renewed interest and confidence in the meme coin. Here’s a closer look at what’s happening with SHIB.
Shiba Inu’s Price Surge and Increased Burn Rate Boost Community Optimism
Recent data shows that Shiba Inu’s price rose by 16% in a single day, reaching $0.0000164. According to Shibburn X, over 18 million SHIB tokens were burned in the last 24 hours. These developments have significantly boosted optimism within the Shiba Inu community.

The overall positive sentiment in the cryptocurrency market also contributed to Shiba Inu’s strong performance. Increased investor interest and stable market conditions have helped SHIB and other cryptocurrencies gain value. The surge in both burn rate and price has played a key role in enhancing excitement among Shiba Inu supporters.
Shiba Inu’s Upcoming Performance and Market Dynamics
Shiba Inu’s performance will be closely watched in the coming weeks. Data from IntoTheBlock shows that 422.29 trillion SHIB are held across 23,330 addresses, with an average purchase price of $0.000017. If the bulls can push past this critical level, SHIB’s price could potentially reach $0.00002. A sustained breakout above the 50 and 200-day moving averages might also signal a strong upward trend.
Recent performance has attracted the attention of large investors, or whales, whose movements can significantly influence SHIB’s market dynamics. This involvement adds to SHIB’s volatile but promising nature.
The rise in Shiba Inu’s burn rate and price indicates strong recovery potential and future gains. Market conditions and investor sentiment will play key roles in determining whether this upward momentum continues. While the Shiba Inu community and market observers are hopeful, it’s worth noting that despite a 16% recovery, SHIB’s price remains well below its peak of $0.00008.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#ShibaInu #SHIB #Memecoin #Germany #Bitfinex $SHIB $DOGE $BTC

The German government has begun selling off Bitcoin, transferring nearly 4,900 BTC to crypto market maker Cumberland and exchanges like Coinbase, Bitstamp, and Kraken. This latest move brings the total amount of Bitcoin sold today to over 4,837 BTC.
The massive selloff has contributed to Bitcoin’s price dropping to $53,000 and is likely to keep driving prices down, increasing panic in the crypto market.
German Government Transfers Bitcoin, Sparking Market Panic
On July 8, 2024, the German government transferred 133.723 BTC, worth nearly $7.63 million, to crypto market maker Cumberland DRW, according to on-chain data from Arkham. This transfer included an initial small amount of 0.001 BTC, likely as a test, with plans for larger transfers in the future.
The German government’s wallet address (BKA) has dumped and transferred over 4,837 BTC to crypto exchanges like Coinbase, Bitstamp, and Kraken, as well as other wallet addresses beginning with 139PoP and bc1qu3. Despite these sales, the government still holds 35,488 BTC, valued at approximately $2.03 billion.
These transfers have triggered a panic selloff among investors, leading to a bearish market sentiment. The recent activity is part of a broader trend, suggesting further selloffs to Cumberland DRW could occur in the coming days. Since July 1, the German government has moved 6.37K BTC, valued at around $494.45 million, reducing its holdings from $2.81 billion to $2.32 billion.
Bitcoin Price Update: Recovery and Market Dynamics
Bitcoin (BTC) has recovered 5% from its 24-hour low of $54,321, currently trading at $56,972 after reaching an intraday high of $58,178. Despite this rebound, the price has faced pressure due to recent selloffs by the German government, which transferred BTC to crypto market makers and exchanges.
In the last 24 hours, trading volume has surged by 58%, reflecting increased interest among traders. Moving forward, traders should monitor the $58K-$60K range closely, as sellers are expected to strongly defend this zone.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#Germany #Bitcoin #Bitfinex #BTC_Bounce_Back_to_57k #BTC $BTC $BTC

Cryptocurrency news has been abuzz with recent events as one of the leading cryptocurrency exchanges, Bitfinex, and its affiliated stablecoin issuer Tether have taken legal action against The Wall Street Journal for defamation. The lawsuit arises from an article published by the renowned financial publication, alleging dubious practices and lack of transparency within the operations of Tether and Bitfinex.
The lawsuit stems from an article published by The Wall Street Journal that casts doubt on the integrity and legitimacy of Tether and its parent company Bitfinex. Tether, a popular stablecoin pegged to the US dollar, has been under scrutiny in recent years due to concerns regarding its backing and transparency.
Background of Tether and Bitfinex
Tether is one of the most widely used stablecoins in the cryptocurrency market, known for its purported 1:1 backing by fiat currency reserves. Bitfinex, on the other hand, is a prominent cryptocurrency exchange that shares common ownership and management with Tether. The Wall Street Journal article in question raised serious allegations against Tether and Bitfinex, suggesting that the companies engaged in market manipulation and lacked the necessary reserves to back the Tether stablecoin fully.

Initial Response and Legal Action
In response to the article, Bitfinex and Tether vehemently denied the allegations and announced their decision to pursue legal action against The Wall Street Journal for defamation. The companies emphasized their commitment to transparency and compliance with regulatory standards.
The lawsuit accuses The Wall Street Journal of spreading false information that has damaged the reputation and credibility of Tether and Bitfinex. Both companies argue that the article contains inaccuracies and misrepresentations that have adversely affected their business operations.
The publication of the article had an immediate impact on the cryptocurrency market, leading to a temporary decline in the value of Tether and causing uncertainty among investors. However, market sentiment stabilized as Bitfinex and Tether reassured users of their financial stability.

Legal Implications and Process
The lawsuit against The Wall Street Journal is expected to proceed through the legal system, with both parties presenting their arguments and evidence in court. The outcome of the case could have significant implications for the future regulation and oversight of stablecoins. The lawsuit has garnered widespread media attention, with various news outlets covering the ongoing legal battle between Bitfinex, Tether, and The Wall Street Journal. Public opinion on the matter remains divided, with some supporting the journalistic integrity of The Wall Street Journal and others questioning the motives behind the article.

#TrendingTopic #Write2Earn #Bitfinex #cryptonews #TetherTreasury