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XRP Price History Predicts Something Big This Month, SHIB Lead’s New Twitter Bio Sparks Curiosity, SHIB Burn Rate Springs High: Crypto News Digest by U.Today

Thu, 04/06/2023 - 16:01
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Valeria Blokhina
Don’t miss anything in the quick-changing world of crypto with the latest news digest by U.Today!
XRP Price History Predicts Something Big This Month, SHIB Lead’s New Twitter Bio Sparks Curiosity, SHIB Burn Rate Springs High: Crypto News Digest by U.Today
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U.Today has prepared summaries of the top four news stories over the past day. Stay tuned for current crypto industry events!

Shiba Inu (SHIB) lead's new Twitter bio update sparks community interest: Details

Shiba Inu lead Shytoshi Kusama has once again stepped into the spotlight thanks to a recent bio update on his Twitter handle. The new bio reads: "very close to becoming a sith." Many SHIB community members suggested that Kusama is referring to a Star Wars Sith, an ancient order of force-wielders devoted to the dark side. However, @crypo_ Twitter user found out that the word "sith" has the secondary meaning of "peace" and refers to the silence of death and the silence of "fairy movements." At the moment, the message behind Kusama’s new bio remains unknown.

Shiba Inu Eyes Surge of up to $1 Million Transactions Following SHIB Price Action, But There's Catch

XRP price history predicts something big is coming this month

Even though XRP ended March with a more than 40% price increase, the asset entered April with a small drop. However, according to historical data, XRP usually experiences major price action in the fourth month of the year. For instance, since 2014, XRP’s double-digit percentage price changes took place in April six out of nine times, with the only exceptions being 2015, 2016 and 2019. In all other years, the XRP price has either skyrocketed or fallen at such a rate as well. Thus, with an average price change of plus 32.1%, April is one of the top four months of the year for the cryptocurrency.

Millions of XRP on move, is sell-off incoming?

Over the past week, XRP demonstrated outstanding resilience, appearing among the top drivers of growth in the crypto ecosystem. In addition to this, XRP is up by more than 50% in the year-to-date period. Following the latest price increases, as reported by Whale Alert, millions of Ripple-affiliated coins were transferred yesterday. One of the transfers involved 98,697,364 XRP tokens worth more than $50 million that were moved from two unidentified wallets. Apart from that, over 20 million XRP tokens have been moved from an unknown wallet to Bitstamp. The reason behind these large transfers, however, is most likely whales and retail investors selling off their assets after realizing some minor gains following the latest rally.

SHIB burn rate springs high as tens of millions of Shiba Inu pushed out of circulation

According to the Shibburn crypto tracker, yesterday, the SHIB army managed to take an impressive amount of SHIB tokens out of circulation. As stated on the aforementioned crypto tracker’s website, 20,227,583 Shiba Inu have been sent to dead-end wallets in three transactions. This amount of burned SHIB tokens is currently lower than earlier in the month. Yet, in comparison to the previous day, the burn rate has increased by over 148%. In general, over the past seven days, the SHIB army has succeeded in burning 285,334,229 SHIB in all.

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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.