According to U.Today, Shiba Inu, a popular meme coin, has achieved a significant milestone by securing the second spot in VanEck's MarketVector's Meme Coin Index, only behind Dogecoin. The index's data reveals that Shiba Inu's weight is 28.28%, while Dogecoin's is 30.69%. Other meme coins in the index include Pepe, Dogwifhat, Floki Inu, and BONK. The Meme Coin Index has been the best-performing index on MarketVector this year, with a return of 137.96%, highlighting the growing interest and speculative investment in meme coins.
In other news, Ripple's Chief Technology Officer (CTO), David Schwartz, has dismissed claims that he is Satoshi Nakamoto, the anonymous creator of Bitcoin. The speculation arose from a video shared by a user from the XRP Las Vegas 2024 conference. Schwartz clarified that although he had the skills to create Bitcoin, he only discovered it in 2011, well after its creation. He also stated that he is unfamiliar with the Qt interface, a key part of the early Bitcoin code. Despite this, he did not completely rule out the possibility, stating, 'It's not impossible. Not true, but it's not impossible.'
Lastly, veteran trader Peter Brandt has shared his analysis of Ethereum's price action, describing it as 'very intriguing.' Brandt identified two chart patterns that could indicate Ethereum's potential trajectory. One pattern resembled a flag, a continuation pattern that often appears during a pause in a bullish or bearish trend. However, he noted that the pattern is too long to be considered a flag, suggesting that it might be a channel. A channel forms when the price action is controlled by two parallel, sloping lines, and the price has tested each of these lines at least twice. Brandt concluded that the chart could indicate a potential breakout in either direction.
