Let’s see what crypto news past weekend brought us with U.Today’s news digest!
U.Today presents you with the top four news stories over the past weekend.
Long-awaited Shiba Inu game launched in Australia, fans say it would just make money on SHIB name
According to an official announcement by the Shiba Inu Twitter account, Shiba Eternity game has been successfully launched in Australia. The game will not have a burn feature, but, as stated in the SHIB lead dev’s tweet from Dec. 30, “There is a reason for that.” However, some members of the SHIB army opined that the game will hardly be useful due to the lack of the feature in question and assumed that it could be an attempt to make money using the SHIB brand. Earlier this year, users in Vietnam had the opportunity to participate in early testing of Shiba Eternity, and the game saw great popularity in the country.
XRP suddenly jumps 8%, here’s striking thing about this latest price increase
On Saturday, Ripple-affiliated token XRP saw its price spiking by 10% while also outperforming the top 10 cryptocurrencies in gains. The day before, in a surprising move, XRP rose from a low of $0.321 to reach a high of $0.358. John Deaton, founder of CryptoLaw firm, noted a striking thing about the latest price increase. As XRP rose 10%, LBC, the native token of the LBRY blockchain, was up 11%, while Dragonchain’s token, DRGN, was up 5%. As highlighted by Deaton in a recent tweet, all three assets are “implicated by the SEC.”
President who lost $56 million in Bitcoin trading seeks reelection
Nayib Bukele, El Salvador president known for his unfortunate history of Bitcoin trading, is seeking reelection. His main campaign messages are implementing Bitcoin as a national currency and fighting crime. The president’s portfolio is currently at a massive loss; his average entry into BTC was at $51,000, while at the moment of writing the king crypto is trading at $19,323. In addition to unsuccessful Bitcoin trading, Bukele is also accountable for a failed experiment on Bitcoin adoption in the country. According to survey data, the majority of Salvadorians did not want to use a relatively complicated technology. However, under Bukele’s reign, El Salvador “lost” its place at the top of the list of the most homicides per capita, which makes his chances for reelection high.
Whopping 1.1 trillion SHIB sold by whales as they rush to get rid of Shiba, here’s why
Data shared by WhaleStats shows that over the period from Sept. 14 to Sept. 16, Ethereum whales got rid of more than 1.1 trillion Shiba Inu tokens. Since last Wednesday, the SHIB stash held by the top Ethereum whales has shrunk from $152 million to $140 million worth of Shiba Inu on Saturday, Sept. 17. If converted to SHIB, this sum could buy a staggering 1,115,879,828,326 meme coins. SHIB has been dumped by whales all week as the token has been declining. According to data from CoinMarketCap, over the last seven days, the second largest meme coin has lost slightly more than 10% of its market value. Currently, SHIB is trading at $0.000011.