Shiba Inu on the Verge of Collapse, Tesla’s Bitcoin Holdings and Elon Musk’s SpaceX Discovered, Giant 97,276 ETH Purchase Stuns Crypto Community: U.Today’s Crypto News Digest

Shiba Inu on the Verge of Collapse, Tesla's Bitcoin Holdings and Elon Musk's SpaceX Discovered, Giant 97,276 ETH Purchase Stuns Crypto Community: U.Today's Crypto News Digest

Here are the top three news stories from the past day brought to you by U.Today.


Here are the top three news stories from the past day brought to you by U.Today.

Shiba Inu (SHIB) on the brink of collapse

Judging by Shiba Inu price charts, the meme cryptocurrency appears to be gearing up for a possible breakdown. Following the SHIB token’s recent loss of over 30% of its value on the SHIB/USDT chart, the asset is approaching what some investors believe may be the beginning of a prolonged correction phase. SHIB is currently being actively tested, while previous “comfort zones” fail to deliver the rebound strength shown in past rallies. Shiba Inu’s immediate future will be determined by the asset’s ability to maintain its support levels. If SHIB price falls to 50% of its most recent peak gains, this could signal the end of the rally and potentially start a bear market for the token. On the positive side, if SHIB manages to consolidate and maintain its current price, this could act as a springboard for future gains.

Tesla and Elon Musk’s SpaceX Bitcoin Holdings Discovered

In a recent post by X, Arkham, the blockchain analytics platform, has provided data regarding the amount of Bitcoin held by Elon Musk’s companies, Tesla and SpaceX. Tesla holdings read the Arkham post, currently stand at 11,510 BTC, which constitutes approximately $780 million, distributed across 68 addresses. SpaceX, in turn, holds 8,290 BTC worth about $560 million, distributed across 28 addresses. Interestingly, this discovery contradicts Tesla’s previous disclosure in its Q4 report, in which the company stated that it held 9,720 BTC. Therefore, based on Arkham’s findings, Tesla’s Bitcoin holdings have exceeded the previously reported amount, indicating a potentially larger investment in the cryptocurrency than previously revealed.

Legendary Trader John Bollinger Calls Bitcoin Price Drop “A Bit Excessive”

Ethereum: Huge purchase of 97,276 ETH surprises the crypto community

Yesterday, the crypto community was baffled by an important purchase of 97,276 Ethereum (ETH) worth $363 million. According to data from Lookonchain, this huge amount of ETH was acquired by PulseChain, a controversial project founded by Richard Heart, the founder of HEX and its decentralized exchange, PulseX. The 97,276 ETH were purchased in two days using 11 wallets for a total of 363.66 million DAI at an average price of $3,738. Traders, investors and analysts alike were intrigued by the astonishing purchase, causing them to wonder about the project’s intentions. Some people believe that the acquisition was made at Ethereum’s local price peak, making the case even more puzzling. At the time of writing, ETH is changing hands at $3,934, up 2.44% in the last 24 hours, according to CoinMarketCap.

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