Crypto News Digest by U.Today

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Valeria Blokhina

Check out U.Today’s news digest to stay informed of the latest crypto happenings!

U.Today prepared the three main stories of the past day.

SHIB burns jump 550% as Shiba Inu price stays in the green

After several days of Shiba Inu seeing a negative burn rate, the SHIB community has finally managed to increase this important metric of their favorite crypto. Proponents of the dog-themed meme coin sent almost 80 million SHIB to dead wallets, with the largest transaction totaling 59,972,026 SHIB. Thanks to transfers from the SHIB army, the burn rate of Shiba Inu parts has increased by 546.18%. As for the price of SHIB, it is showing a decline of 3.60% in the last 24 hours and is currently changing hands at $0.000007504, per CoinMarketCap.

Keep an eye on XRP and ADA, says Santiment

According to a recent tweet from market analysis firm Santiment, investors could benefit from careful monitoring of some of the top altcoins, including XRP and Cardano (ADA). Despite Bitcoin’s increasing price dominance, other cryptocurrencies such as Ethereum (ETH), ADA, XRP, and Binance Coin (BNB) also deserve attention, writes Santiment. Ethereum has shown impressive growth of 4.7% over the past week, with a market capitalization approaching $235 billion. XRP has recorded a steady growth of 2.3% over the past week. ADA, in turn, showed a significant increase of 3.85% over the previous seven days.

Shiba Inu: the community receives a warning as the fake SHIB 2.0 is exposed

The ShibArmy Scam Alerts Twitter account issued a warning to the Shiba Inu community yesterday, urging them to beware of the scams perpetuated with SHIB 2.0. The tweet states that all SHIB enthusiasts should steer clear of Ethereum (ENS) names that may appear to belong to Shiba Inu, tokens launched from addresses such as “shib2.0”, as well as tokens implying that they are part of the SHIB ecosystem. According to a screenshot shared by Shiba Inu Ecosystem Manager Lucie, SHIB manager Shytoshi Kusama also alerted the community that there is no SHIB 2.0, urging them not to fall in scams.

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