John Bollinger Issues Positive Litecoin Price Prediction, Samson Mow Slams ETH Ahead of Ethereum ETF Launch, SHIB Burn Rate Spikes 482%: Crypto News Digest by U.Today
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Check out the top three news stories over the past day presented to you by U.Today.
Legendary trader John Bollinger issues blockbuster Litecoin (LTC) price prediction
John Bollinger, prominent trading expert and creator of the Bollinger Bands, recently made a positive prediction for the Litecoin (LTC) price. It all started with an X user asking for Bollinger's opinion on LTC's monthly chart, to which the expert replied with a request to adjust the chart by setting the Y-axis slightly lower than the price low, while keeping the log scale. After the adjustments were made, the Litecoin price chart showed a tightening of the Bollinger Bands, indicating the low volatility on the market, which often results in significant price movement. Bollinger commented on the chart, saying that it seems "about time for LTC to wake up."
Samson Mow slams ETH ahead of Ethereum ETF launch
In a recent X post, Samson Mow, CEO at JAN3 and vocal Bitcoin supporter, criticized Ethereum's price performance. His statement occurred at a time when spot Ethereum ETFs are set to begin trading. Mow pointed to the fact that Ethereum "is performing abysmally,” hinting that the asset's price saw minor to no upward movement following the announcement of the approaching spot Ethereum ETF trading launch. As a reminder, Bitcoin's price reacted differently from Ethereum's when the SEC approved spot Bitcoin ETFs last January; right after the approval was announced, BTC saw a major surge of its price, even before the actual trading started.
Tomiwabold OlajideShiba Inu (SHIB) stays ahead with 482% burn rate surge
As the announcement of the Ethereum ETF launch dominated the wider crypto market, Shiba Inu has continued to maintain the increase in its burn rate metric. Though it is still unclear if this burn rate is a transfer from earlier in the week, its 482% 24-hour increase has rebooted hidden sentiments about the meme coin. According to data provided by Shibburn, 60,380,203 SHIB were sent to dead-end wallets over the aforementioned period. In turn, the amount of burnt tokens over the past week stands at 135,026,217 SHIB. This most recent burning round revealed notable activity of at least five different wallet addresses; per Shibburn, each of the wallets dropped at least 9,999,999 SHIB into dead wallets.
Arman Shirinyan
Alex Dovbnya
Dan Burgin