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XRP Sustains Rally, SHIB & BTC Spark Market Buzz

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4 months ago

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The dynamic world of crypto closes yet another week, primarily with attention-nabbing developments unfolding across the broader sector. Ripple’s XRP sustained a price rally, nearing $2 against the backdrop of legal maneuvers in favor of the American blockchain payments company. Simultaneously, Shiba Inu (SHIB) saw bullish dynamics fueling market optimism surrounding the meme coin. On the other hand, Bitcoin (BTC) continued to consolidate near its ATH this week, sparking market discussions.

Here’s a brief report on some of the most buzz-worthy cryptocurrency market updates reported by CoinGape Media over the past week.

Notably, the Ripple-backed crypto saw a highly bullish week, extending weekly gains to 30% and resting near $1.90. This rising trajectory has sparked noteworthy optimism, which is in line with recent legal developments regarding the blockchain payments company.

Primarily, the lawsuit against the U.S. SEC could end under the “new SEC,” CoinGape Media reported. This optimistic anticipation comes against the backdrop of SEC Chair Gary Gensler announcing his exit and pro-crypto Donald Trump securing a win in the U.S. elections. Moreover, pro-XRP attorneys Bill Morgan, Fred Rispoli, and Jeremy Hogan also revealed that the appeals are likely to get dismissed, hinting that the lawsuit against the U.S. SEC could drop soon. Overall, as the much-awaited conclusion for the lawsuit comes, market sentiments surrounding the Ripple-backed asset have turned highly bullish.

Intriguingly, amid these optimistic events, the coin also overtook BNB in terms of market cap, marking a monumental stride. Simultaneously, the asset’s futures OI topped $2.5 billion this week, echoing investor optimism.

Further, with Ripple eyeing RLUSD stablecoin launch ahead with indications that New York’s top financial regulator, the Department of Financial Services (NYDFS), is poised to approve the product, market sentiments remain bullish on future movements.

Shiba Inu (SHIB) Steals Spotlight

Simultaneously, Shiba Inu has gained significant traction this week, witnessing remarkable burns and ecosystem developments. CoinGape Media reported the SHIB burn rate to have soared remarkably over the past seven days, sparking optimism surrounding the coin’s future price movements. Simultaneously, even the coin’s layer 2 network, Shibarium, saw a maintenance upgrade, enhancing functionality.

While these events significantly bolstered prices, it’s also noteworthy that Shiba Inu whale holdings were reported to be on the rise. This stat has underscored heightened market interest in the asset amid a bullish Q4. In turn, crypto market enthusiasts are extensively eyeing the token for further gains in light of the abovementioned optimistic stats.

BTC Consolidates Near ATH

Meanwhile, the flagship crypto has faced some market turbulence near its ATH, resting above the $95K level as the week closes. Notably, Robert Kiyosaki warns amid this turbulent movement that Bitcoin could surpass $100K soon, making it harder for the middle class to invest, urging FOMO for early investors. This statement sparked noteworthy optimism for the cryptocurrency, while other bullish events also unfolded across the broader market.

Vancouver Mayor Ken Sim proposed Bitcoin as a reserve asset this week, underscoring the asset’s market potential. Additionally, a stockpile of bullish on-chain metrics weighing in has added to intrigue on the asset’s future movements. A recent Bitcoin price analysis by CoinGape media indicated that the coin eyes further gains, mirroring historical trends and increased market interest.

Overall, the abovementioned cryptocurrency market headlines have significantly impacted investor sentiments globally.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Mantra Team Responds As The OM Token Price Crashes Over 80% In 24 Hours

Published

11 hours ago

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April 14, 2025

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The Mantra team has addressed the crypto community following the Mantra (OM) token price crash of over 80% in the last 24 hours. Despite the statement, the community is still concerned that this might have been a rug pull by the team, which controls a huge amount of the token’s total supply.

Mantra Team Responds Following Token Crash

In an X post, the Mantra team assured the community that the token is “fundamentally strong” despite the crash that occurred in the last 24 hours. The team blamed the crash on “reckless liquidations” and denied it had anything to do with the project.

They further assured that this had nothing to do with the team and revealed that they were looking into the Mantra price crash and would share more details about what happened as soon as possible.

In an X post, the project’s co-founder, John Patrick Mullin, further revealed that there was a massive forced liquidation from a large OM investor on a Centralized Exchange (CEX). However, he didn’t reveal whether it was one of the top crypto exchanges.

In another X post, Mullin tried to set the record straight. He stated that they didn’t delete the Telegram channel. He further remarked that the team’s tokens all remain in custody and provided a wallet address (mantra…..quam) for community members to verify this claim.

The Mantra co-founder added that they are actively figuring out why these massive forced liquidations occurred and will provide more information as soon as possible. He assured that they are still here and not going anywhere.

Mantra Price Crashes By Over 80% In 24 Hours

CoinMarketCap data shows that the Mantra price has crashed by over 80% in the last 24 hours. The token sharply dropped from an intra-day high of $6.3 to as low as $0.4. However, it has reclaimed the $1 price level following the team’s statement.

However, amid this statement, some community members still seem convinced that this was a rug pull, as the team controls a huge amount of the token’s supply. Crypto commentator Sjuul described the OM token as the LUNA of this cycle.

He further explained why the community believes the crash was a rug pull, stating that the crash began when a wallet believed to be connected to the team suddenly deposited 3.9 million OM tokens to the OKX crypto exchange. This deposit led to significant selling pressure, which caused the Mantra price to crash.

Besides the token’s crash, the broader crypto market is witnessing a downtrend following US President Donald Trump’s statement in which he debunked reports of an exemption. This comes just a day after the crypto market rebounded following reports that the US president had exempted computers, phones, and chips from his tariffs on China and other countries.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Michael Saylor Hints At Another MicroStrategy Bitcoin Purchase, BTC Price To Rally?

Published

19 hours ago

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April 13, 2025

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MicroStrategy is lacing up for a potential Bitcoin purchase after Michael Saylor flashed the tell-tale buy signal. The incoming purchase will be the company’s first in Q2 after pausing Bitcoin purchases at the start of April in an eyebrow-raising move.

Michael Saylor Flashes Bitcoin Buy Signal

MicroStrategy CEO Michael Saylor has dropped clues that the software company will continue its Bitcoin accumulation spree. In an X post, Saylor shared MicroStrategy’s portfolio tracker revealing the company’s Bitcoin holdings and valuations.

Michael Saylor’s previous posts sharing Microstrategy’s portfolio tracker over the weekend have resulted in purchases at the start of the week. Investors are lapping up Saylor’s portfolio tracker post and the accompanying caption as cues for a BTC purchase on Monday.

“No tariffs on Orange Dots,” said Saylor, taking a jibe at brewing tariff wars between the US and China.

MicroStrategy had previously halted its Bitcoin purchase spree at the start of April leading to a slump in MSTR price. At the time, there was significant chatter that MicroStrategy may be forced to offload its Bitcoin holdings to cover obligations following a dip in prices.

Per the portfolio tracker, MicroStrategy holds 528,185 BTC on its balance sheet valued at $44.7 billion. Michael Saylor hinting at a potential Bitcoin purchase follows a small dip in prices with BTC holding the $83K mark.

Will Bitcoin Price Rally?

Saylor’s hint at buying Bitcoin has triggered a small bump in prices as the top cryptocurrency surpassed $83K. However, an actual purchase will trigger a significant price action for BTC in line with previous accumulations.

MicroStrategy’s last Bitcoin purchase of 22,048 BTC jolted the markets in line with investors’ expectations. However, there are fears that macroeconomic events like the US-China tariff war may affect a potential BTC rally following MicroStrategy’s incoming purchase.

Bitcoin price has rebounded after a previous bloodbath, sparking fresh optimism in the markets. Crypto Joao Wedson predicts that Bitcoin is not out of the woods yet and a grim drop to $65K is still a possibility for the top cryptocurrency.

“We’re not ruling out the possibility of the price dipping below $65K, as several metrics point to that region as strong support – such as the True Market Mean Price and Alpha Price, both sitting exactly around $64,700,” said Wedson.

Crypto analyst Doctor Profit warns that a BTC price drop to these levels may force MicroStrategy to sell MSTR to avoid liquidation.

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Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Shiba Inu Price on The Verge of Breaking $0.00002

Published

1 day ago

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April 13, 2025

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The memecoin ecosystem has joined the latest revival in the broader market, with the Shiba Inu price now in the spotlight. The memecoin has reset its bearish outlook and will break crucial price milestones in the coming days.

For Shiba Inu, the death cross formation was confirmed on April 6 when the price dropped from $0.00001232 to a low of $0.00001030.

Shiba Inu Price Golden Cross Confirmed

Market data shows that the SHIB price is gradually disappearing from its earlier consolidation trend. At the time of writing, the coin’s price was changing hands for $0.00001249, up by 2.14% in 24 hours. 

SHIB recovered after trading at a low price of $0.00001205 to a daily high of $0.00001265 before settling at the current level. This price boost comes as the SHIB burn rate jumped 1000% in early trading, setting the memecoin on a possible revival path.

Shiba Inu PriceShiba Inu Price
SHIB/USDT 4H Chart. Source: TradingView

The SHIB/USDT 4h chart confirms a golden cross pattern for the memecoin. This pattern is formed when the short-term Moving Average switches above the longer-term moving average.

Although this pattern is fully formed on the 4-hour chart, it is yet to form on the daily chart. However, with the current momentum, a confirmed breakout is possible. Already, the token has displaced Hedera and now ranks as the 17th largest cryptocurrency.

Shibarium Catalyst for Price Rebound

Different ecosystem factors can boost the price of Shiba Inu in the long term. One of these factors is closely tied to the outlook of Shibarium and its associated Layer-2 scaling solution.

As reported earlier by CoinGape, the Shibarium 200 million addresses milestone is near. If the network attains this landmark, it will show a clear sign of growing adoption, a move that might boost its token valuation.

Already, Shibarium has broken the 1 billion total transaction milestone. Should the Shiba Inu network continue to record organic growth, its chances of outranking Dogecoin is higher.

Amid the ongoing boost, the question remains how high the memecoin could soar. Drawing on this, a potential SHIB retest of its ATH of $0.00008844 is possible moving forward. While it will require as much as a 710% growth from current levels, SHIB can print this uptick, drawing on its historical trend.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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