SHIB Inches Toward Massive Breakout, SEC Accuses Ripple of Adopting Inconsistent Arguments, Snoop Dogg’s Son Joins Cardano NFT Project: Crypto News Digest by U.Today

Take a look at what's happening in the world of crypto by reading U.Today’s top four news stories.

Shiba Inu (SHIB) on verge of massive breakout

Despite having a massive run on the market and significantly increasing in value, Shiba Inu is now actively battling with a strong resistance level, trying to break the 200-day moving average resistance for the last couple of days. Unfortunately, the meme coin failed to do that and reversed back below $0.000016. Additionally, the 200-day moving average correlates with the 50-week moving average on a longer timeframe, which makes the $0.000016 threshold even harder to break through. If Shiba Inu succeeds, the most likely scenario will be moving toward the next resistance on the chart, located almost 35% above the current price level. At the moment of publication, SHIB is changing hands at $0.000014.

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SEC accuses Ripple of advancing inconsistent arguments regarding Hinman emails

The SEC has defended its objections to recent court orders demanding that it produce the draft emails of William Hinman’s Ethereum speech. The regulator reiterated that the speech drafts are unrelated to claims in the Ripple case. The SEC also accused the company of adopting a “fundamentally inconsistent argument” to force the agency to produce the aforementioned documents. According to the SEC, the speech is protected by both deliberate process privilege and attorney-client privilege. So far, Magistrate Judge Sarah Netburn has rejected all of the agency’s attempts to keep the documents classified.

Most hyped Cardano NFT project adds Snoop Dogg's son to its roster

According to the official announcement, Champ Medici, son of famous American rapper Snoop Dogg, has joined the Cardano NFT project "Clay Mates" team. Champ will work closely with the project’s team to develop strategic partnerships and help Clay Nation reach new audiences. Champ Medici is one of the few public figures who support Cardano and has repeatedly expressed his love for the hottest of the Cardano NFT projects. It is also worth mentioning that, previously, Medici himself and his father, Snoop Dogg, collaborated with Clay Nation. As a sign of gratitude, the creative team of the project even presented artists with their NFT avatars.

SHIB looking to make another move: David Gokhshtein

Founder of Gokhshtein Media David Gokhshtein has taken to Twitter to shill the Shiba Inu cryptocurrency once again. This time, the businessman wrote that the meme coin is “looking to make another move.” Gokhshtein has been speaking positively about Shiba Inu a lot this year: in March, he tweeted that he sees the token's price reaching $0.001, in June - that it has a "great model," and the next 12 months might be key for the canine coin. Of course, Shiba Inu’s surge by more than 36% to $0.00001748 on Aug. 14 has not been left unnoticed by the Gokhshtein Media founder. The following day, he wrote on his Twitter page that SHIB was "fueling up for another leg." As reported by U.Today, last week, Gokhshtein also tweeted that "Shib also looks like it wants to rip.”