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Elon Musk's Tweet Sent CULT Token up 84%, SHIB Lead Issues Major Warning, PEPE Overtakes DOGE in Trading Volume: Crypto News Digest by U.Today

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Wed, 3/05/2023 - 16:06
Elon Musk's Tweet Sent CULT Token up 84%, SHIB Lead Issues Major Warning, PEPE Overtakes DOGE in Trading Volume: Crypto News Digest by U.Today
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U.Today has prepared the top four news stories over the past day.

Shytoshi Kusama issues major warning to SHIB army

In a recent message on his Telegram channel, "Shibarium Tech," SHIB lead Shytoshi Kusama issued a warning to the SHIB community. Kusama reminded his followers that they should beware of scammers who offer them new investment opportunities and that any new tokens claimed to be created by the SHIB team are fake, urging DYOR ("do your own research") before making a purchase. He then added that there are no TREAT or SHI tokens yet. An administrator of the Shibarium channel "RagnarShib" also joined the conversation, stating that the only tokens issued by the Shiba Inu team so far have been SHIB, BONE and LEASH.

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XRP: crypto wallet provider Ledger issues important alert to XRP holders

As every major asset in the crypto sphere is being followed by scammers that try to benefit from its success, yet another crypto token's community has received an alert. Crypto wallet provider Ledger warned the XRP community to avoid token allocation claims, as these aim to steal their XRP funds. Ledger also asked its users to never share their 24-word recovery phrases with anyone, and that anyone who asks you to do so is a scammer. Meanwhile, the Ledger Support Twitter account reported that some users were experiencing errors when trying to add an XRP account or send XRP through Ledger Live Mobile. The team behind the account assured its followers that this does not affect the security of funds, which are SAFU.

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Elon Musk's latest tweet sends this DAO token up 84%, here's reason

Elon Musk is well known for his ability to affect tokens' prices by either mentioning this or that crypto in an interview or by posting single-word joke tweets. This time, the price boost was received by Cult DAO token, CULT, after the Tesla CEO posted a "Cult / Culture" tweet on his page yesterday. On momentum from the tweet, CULT, the native token of CULT DAO, printed sudden growth of 84% over the past 24 hours, pushing its price to $0.000008625. However, at the moment of writing, CULT has lost most of its gains from the past day. According to CoinMarketCap, the asset is changing hands at $0.000004629.

Pepe (PEPE) overtakes Dogecoin (DOGE) in trading volume

Yesterday, Pepe meme-inspired cryptocurrency managed to overtake Dogecoin in trading volume. Data provided by CoinGecko showed that Pepe's 24-hour trading volume reached $434 million. In comparison, Dogecoin's trading volume over the same period comprised $312 million. As previously reported by U.Today, last week, Pepe also surpassed another dog-themed meme token, Shiba Inu, with its daily trading volume reaching $93.9 million and Shiba Inu's reaching $69 million. While the controversial project seems to be achieving significant milestones, it is still seen by many as a vehicle for speculation. This has led to questions about the project's legitimacy and accusations that it might be a scam.

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