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SHIB Soars 30%, Reaching 1 Million Holders, Dogecoin Shorts Hit ATH, 60 Million XRP Moved Between Exchanges: Crypto News Digest by U.Today

Fri, 11/26/2021 - 15:05
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Valeria Blokhina
U.Today’s news digest keeps you updated on the latest events in the crypto industry
SHIB Soars 30%, Reaching 1 Million Holders, Dogecoin Shorts Hit ATH, 60 Million XRP Moved Between Exchanges: Crypto News Digest by U.Today
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Here are the top five news stories over the past day presented to you by U.Today:

SHIB surges nearly 30% on Thanksgiving Day

On one of the most-celebrated holidays in the U.S., Thanksgiving Day, the Shiba Inu cryptocurrency decided to become another reason for joy by soaring nearly 30%. The meme-coin is inching closer to surpassing Avalanche (AVAX), with the gap  between the two coins shrinking to under $2 billion. This adds to SHIB’s other recent achievements, such as an increasing number of holders and more exchange listings.

Shiba Inu finally reaches 1 million holders

Shiba Inu has once again made the news by reaching an important milestone. On Thursday, the meme-coin broke through the one-million-holder mark. While some members of the Shiba Inu community are dissatisfied with the token's recent performance, such a fundamental aspect as a large number of holders may be more essential for the asset's future than short-term price movement.

SHIB official Twitter account releases a mysterious clip

Yesterday, a mysterious clip appeared on Shiba Inu’s official Twitter account. The presentation-like video shows lightbulbs that progressively light up, with two letters "W" and "V" combined into one symbol visible when the screen fades. The community started speculating whether it is a teaser of a future partnership or of a real-life music video release (the latter is not uncommon among crypto projects like Shiba Inu). So far, the official Twitter account of Shiba Inu has not given any explanatory comments on its post.

Dogecoin shorts hit all-time high

As reported by U.Today previously, the amount of margined Dogecoin short positions on Bitfinex hit 15.9 million DOGE, which roughly equals $3.4 million. Some members of the community believe that this will result in a brief squeeze. Short squeezes are characterized by a series of liquidations that induce traders to panic and close their positions, causing the price of a particular asset to rise dramatically.

Meanwhile, Tesla CEO Elon Musk agreed with Dogecoin co-founder Billy Markus about the U.S. dollar being worthless.

Elon Musk Urges Dogecoin Holders to Abandon Centralized Exchanges

Abnormal XRP activity: someone moved 60 million coins between exchanges

According to Whale Alert, an unknown person has been transferring a large amount of coins between various exchanges. The transactions involved such exchanges as Gopax, Bitso and Binance. The transaction amount starts from 11 million XRP coins, and the largest transaction was 20 million coins. However, the large transactional volume on the Ripple blockchain has not impacted XRP’s price. Some users believe that numerous transactions are linked to a single whale-tier owner attempting to redistribute his or her assets over multiple exchanges.

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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.