Here are the top three news stories over the past day presented to you by U.Today.
Shytoshi Kusama explodes SHIB army with bullish Shibarium announcement
As announced by the Shiba Inu official X handle on May 15, ShibaSwap decentralized exchange has finally gone live on the layer-2 solution Shibarium. In a short thread, the SHIB team shared the details of ShibaSwap’s new capabilities, such as operating on both Ethereum and Shibarium blockchains and the creation of new liquidity pools on Shibarium. Following the announcement, Shiba Inu lead Shytoshi Kusama quoted the SHIB X account to praise the outstanding achievements of his team (and developer Kaal Dhairya in particular) that made bringing ShibaSwap to Shibarium possible. Concluding his X post, Kusama asked all SHIB enthusiasts to “stay tuned,” as there is “so much more in store as we march forward.” Dhariya, in turn, commented on Shiba Inu lead’s post, adding that the SHIB team will continue to push out updates and upgrades on a regular basis since Shiba Inu’s journey is “not a race, it’s a marathon.”
XRP made strong comeback
In a recent development, XRP made a significant recovery, returning to the previously invalidated descending triangle pattern. Although this technical formation often indicates bearish trends, the fact that XRP has returned to this pattern implies that XRP bulls may soon try to redefine the asset’s present trajectory. For the first time in weeks, XRP’s buying power saw an increase. This increase caused the price to move toward several important moving averages, such as the 50, 100 and 200 EMAs. These moving averages act as important levels of resistance, and a break through them can portend a change in direction toward a more bullish trend. But even with this recent uptick in bullish momentum, XRP is still downtrending. The price action is still struggling below the resistance line of the descending triangle, indicating ongoing bearish pressure. All of the moving averages are heading downward, suggesting that the majority of investors are more bearish than bullish. At the moment of writing, XRP is changing hands at $0.5254, up 1.59% over the past 24 hours, per CoinMarketCap.
3 trillion SHIB mysteriously sent to Robinhood amid 12.2% price surge
Data provided by Whale Alert crypto tracker shows that yesterday, May 16, an astonishing amount of Shiba Inu tokens, 3,000,000,000,000 SHIB, valued at $75 million, was transferred to Robinhood by an anonymous whale. The transaction occurred as SHIB showed 12% growth in its value over the course of 24 hours; the meme crypto is said to surge on the news of ShibaSwap launching on Shibarium – the development the SHIB community has been eagerly waiting for. The aforementioned transaction has also underscored the increase of whale activity that was observed throughout this week. On May 15, Cumberland, a large crypto trading firm, moved 144 billion SHIB worth $3.3 million to Coinbase. Prior to that, 50.36 billion Shiba Inu were deposited to OKX. In total, this week, before the movement of the previously mentioned three trillion SHIB, awakened SHIB whales transacted around 1.5 trillion Shiba Inu in a single day. They mostly carried between 42.6 billion and 397 billion SHIB to leading cryptocurrency trading platforms Binance, Coinbase, Gate.io and others. At the time of writing, SHIB is trading at $0.00002501, up 2.83%.
