Trump Ditches Ethereum, Shiba Inu’s ‘Killer Dogcoin’ Burn Rate Rises & More: This Week in Cryptocurrency

The week brought a whirlwind of cryptocurrency news, with some coins rising, others selling, and some even burning. Dogecoin’s value has risen, Donald Trump has made significant moves in the Ethereum and MAGA Coin markets, a Colorado shepherd has admitted to fraud charges, and Shiba Inu burn rates have skyrocketed. Here’s a quick look at what happened.

Dogecoin Value Rises on Musk’s App X Buzz

During the weekend, Dogemoneta DOGE/USD value increased more than 10% following the creation of a dedicated account for the scheduled payment feature on Elon Musk’s “everything” X app. Pseudonymous cryptocurrency analyst Johnny predicts a rally, with DOGE possibly reaching $0.10. The buzz around the X Payments account has fueled speculation that X/Twitter may soon adopt DOGE as a universal payment method. Read the full article here.

Trump downloads Ethereum

Former President Donald Trump is said to have sold more than 1,000 Ethereum ETH/USD, grossing over $2.4 million. Ethereum comes primarily from royalties for Trump’s non-fungible token (NFT) projects. Despite the sale, NFTs remain in high demand, with the cheapest listed for over $600, a significant increase from the original price of $99. Read the full article here.

See also: Kim Jong Un issues stern warning amid North Korea’s worsening food crisis: ‘We shouldn’t sit and wait’

Pastor Admits to Crypto Scam Fraud

Eli Regalado, a Colorado-based online pastor and founder of INDXcoin, admitted to fraud charges. Facing charges from the Colorado Securities Commission, Regalado confessed in a video that he and his partner Kaitlin Regalado embezzled $1.3 million. Read the full article here.

Trump achieves great results with MAGA Coin

In addition to trading on Ethereum, Trump reportedly earned a 15,000% return from the MAGA coin (TRUMP). According to crypto intelligence firm Arkham Intelligence, Trump’s initial stake of $7,100 in the meme coin has risen to an estimated value of more than $1.07 million. Read the full article here.

The Shiba Inu’s burning rate increases dramatically

The “Dogecoin Killer” Shiba Inu SHIB/USD, saw a surge in token burn activity, with an increase of more than 4,200% in the span of 24 hours. This drastic reduction of 15.72 million SHIB tokens from the actively traded supply is attributed to three anonymous entities who sent 13 million SHIB tokens to an unrecoverable address. Read the full article here.

Read next: Houthi rebels fire missiles at US warship in Red Sea conflict: ‘Now they’re finally calling things by their proper names’
Eivind Pedersen from Pixabay.

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