What happened in the world of crypto over the weekend? Read U.Today’s news digest to find out!
U.Today has prepared a summary of the top four news stories over the weekend. Don’t miss anything important in the crypto industry!
Fundstrat’s Tom Lee predicted that Bitcoin would hit $200,000 in 2022. Here’s what he has to say now
Back in December 2021, Fundstrat’s Tom Lee made a bullish prediction about Bitcoin, saying that in 2022, the biggest crypto on the market will reach highs of $200,000. However, the prediction did not age well as Bitcoin suffered a major loss of its value, currently trading at $16,227, per CoinMarketCap. In a recent interview with CNBC, Lee admitted that 2022 has been a terrible year for crypto. “Nobody has made money in crypto in 2022,” the analyst said. At the same time, Lee does not think that crypto is dead and believes that it will remain popular with those people who value decentralization. At the end of the interview, the analyst made another prediction, saying that 2023 could also be a terrible year for Bitcoin if there is “more fraud.”
Dogecoin pumps 15% as Elon Musk says he may launch alternative smartphone
Elon Musk, the new owner of Twitter and well-known Dogecoin supporter, recently tweeted that in case the social media giant under his control has problems in Google Play and the App Store, he will launch his own smartphone. The tweet came after podcaster Liz Wheeler shared her worries about Twitter potentially being banned from the stores. Following Elon Musk’s reassuring tweet, Dogecoin, the crypto he considers a means of payment for the future, started printing green candles on hourly green charts and spiked 15%. Overall, since Friday, the meme coin grew from $0.0810 to the $0.0946 level.
XRP looks ready for big move, here might be potential catalysts
In a recent tweet, David Gokhshtein reiterated his confidence in Ripple’s victory in its lawsuit against the SEC. He believes that there are two reasons for the fintech giant to win: first, the clarity it will bring to the crypto industry; and second, the XRP community that fought hard and stood its ground should be rewarded. Meanwhile, the XRP price grew almost 12% in the past week amid speculation of a settlement between Ripple and the regulating agency. The XRP enthusiast’s opinion is similar to Gokhshtein’s; however, some of them think that the token’s price is set for a major move no matter what the outcome of the lawsuit is. Twitter user @coffeeocalypse cited technical factors as the potential catalyst for this: higher lows, breaking out of several structures, retesting, retaking or breaking out of moving averages.
Shiba Inu sees nearly 100% weekly burns, what’s next on SHIB price?
Data provided by Shibburn shows that, in the past week, the SHIB community destroyed a total of 223,264,370 meme tokens. If we compare this amount to the amount burned the week before, 106,780,540 SHIB, we would see a nearly 100% increase in weekly burns. Previously, U.Today reported that Shiba Inu registered an astounding 1,082% burn rate spike, with 134 million SHIB being burned. However, after this impressive achievement, the SHIB daily burn amount returned to its former low levels. At the moment of writing, the meme coin is changing hands at $0.000009023, down 4.47% over the past 24 hours.