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Elon Musk Makes DOGE Surge 28%, SHIB Listed by Bit2Me, Tether Slapped by New Class Action Lawsuit: Crypto News Digest by U.Today

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Wed, 12/15/2021 - 14:57
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Valeria Blokhina
Stay tuned for the latest crypto events with U.Today’s news digest!
Elon Musk Makes DOGE Surge 28%, SHIB Listed by Bit2Me, Tether Slapped by New Class Action Lawsuit: Crypto News Digest by U.Today
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U.Today presents top four crypto news stories over the past day.

Shiba Inu and Dogecoin to go live on major Indian crypto exchange

Unocoin, one of the biggest crypto exchanges in India, has added support for Dogecoin and Shiba Inu. DOGE can now be traded against the Indian rupee, and SHIB against Tether, the number one USD-pegged stablecoin.

This is not the first Indian exchange listing the Shiba Inu cryptocurrency; ZebPay started accepting the canine coin in early October. Also, last month, Shiba Inu was integrated into CoinDCX's retail-focused application.

Dogecoin spikes 28% after Elon Musk’s announcement

Yesterday, to the great delight of Dogecoin enthusiasts, Elon Musk announced that Tesla will start accepting DOGE for merch. The meme token even surged 28% on the news. However, the rally did not last long and Dogecoin retraced to the $0.19 zone only minutes later. Analysts believe the retrace was caused by traders providing large selling pressure on the market after DOGE’s strong pump.

However, there is still a chance for Dogecoin to grow if traders decide to provide enough buying power or if whale-tier addresses continue to support the rally.

Related
Elon Musk: DOGE to Be Accepted by Tesla for Merch "to See How It Goes"

Shiba Inu listed by Spain’s biggest crypto exchange

After listing Dogecoin seven months ago, Bit2Me, a Spanish crypto exchange, decided to add another canine token to its list of supported cryptocurrencies. The users of Bit2Me are now able to buy, sell and trade Shiba Inu, the best-performing cryptocurrency of the year. With the Bit2Me listing, SHIB continues to strengthen its presence in Europe. It is now trading on Coinbase Pro against the British pound and the euro, as well as on Bitpanda, where it is also possible for users to trade the meme token against the euro.

Tether slapped with new class action lawsuit

It is known that Tether is no stranger to legal battles, and yet another one has appeared on the horizon. Matthew Anderson and Shawn Dolifka have filed a new class action lawsuit against the flagship stablecoin, seeking monetary and non-monetary relief as allowed by law. The plaintiffs accused the company, among other things, of lying about its stablecoin being backed one-to-one by sufficient dollar reserves and "suppressing" information about failing to undergo routine audits. In response to accusations, Tether claimed that it will aggressively litigate these "meritless claims" and that the lawsuit does not deserve one satoshi worth of settlement money.

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About the author

Valeria is the community manager at U.Today. She is a crypto enthusiast and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news in the world of crypto and blockchain.