Crypto News Digest by U.Today
Let’s see what crypto news the first few days of April have brought with U.Today’s news roundup
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Here are the top four news stories of the past weekend brought to you by U.Today, check them out!
“Big Short” Michael Burry points out that the phenomenon the market has not seen since 1920
Thursday 30 March known investor Michael Burry took to Twitter to point out the unique nature of the current market environment. He stated that since the 1920s, there has not been a generation as dedicated to the “buy the dip” (BTFD) strategy as the one we are currently seeing. According to this approach, investors should accumulate more of an asset at a lower price during market downturns, expecting that the asset will eventually recover and increase in value. Investor interest in the BTFD strategy has increased significantly in recent years, especially in connection with the strong development of the S&P 500 index.
Is Burger King interested in DOGE? New tweet excites the Dogecoin community
Another “Doge” mention by Burger King UK has been spotted by the Dogecoin community on Twitter. This time, the person behind the global fast food chain account tweeted that they are trying to convince their manager to have “an office doge.” The post excited DOGE enthusiasts, with some asking when Burger King will start accepting the meme token for its meals, and others posting DOGE-related memes in the comments. Earlier last weekas reported by U.Today, Burger King’s UK branch responded to the news that Burger King in Paris accepted Bitcoin by tweeting “We need doge.”
Shiba Inu records year’s biggest transaction peak as SHIB price breaks out
As tweeted by analyst Ali Martinez citing Santiment’s data, since the beginning of the year Shiba Inu’s network activity has reached a record high. In late March, Shiba Inu saw its highest daily increase in active addresses in 2023, with nearly 36,000 SHIB addresses interacting on the network. Notably, this happened just before the SHIB price surge of 9% after a long accumulation and decline in volatility. The most obvious explanation might be whales anticipating the upcoming price action and taking advantage of it. However, this time it has nothing to do with this group of investors, as the vast majority of transactions made during the surge in network activity were in the $10-$100 range.
Shiba Inu (SHIB) breaks out from the triangle, here is the next goal
Shiba Inu has recently successfully broken through the local resistance level marked by the upper boundary of a symmetrical triangle. This suggests that the dog-themed crypt, which has gained 9.6% in value over the past three days and hit its 200-day moving average, may be entering a bullish trend. Such patterns usually occur when the buying and selling pressure is evenly balanced. As the top of the triangle approaches, the price action becomes increasingly compressed, leading to a significant breakout in either an upward or downward direction. In the case of the Shiba Inu, the breakout appeared on the upside, signaling a bullish trend.
