Crypto Market Updates: SHIB Burn Surge, Ripple's RLUSD Update, Bitcoin Milestone

Shiba Inu's Remarkable Burn Rate Surge

Shiba Inu recently experienced a dramatic increase in its burn rate, reaching an unprecedented 144,045%. This significant surge involved the transfer of over 2 billion SHIB tokens to unspendable wallets, marking one of the highest burn rates recorded. The community has welcomed this development with optimism, as it contributes to a substantial reduction in the circulating supply. Over the past week, a total of 4.25 billion SHIB tokens have been burned, indicating a weekly burn rate rise of nearly 2,000%.

Ripple's RLUSD Stablecoin Clarification

Ripple has addressed ongoing speculation about the launch of its RLUSD stablecoin, particularly concerning its anticipated debut date. The company took to the X platform to clarify that the stablecoin would not launch on the rumored date. Ripple emphasized its collaboration with the New York Department of Financial Services (NYDFS) to ensure full regulatory compliance, stating that they are working closely with the department for final approval. Ripple remains committed to launching the stablecoin under NYDFS supervision and promises to provide updates as they advance.

Bitcoin's Historic Price Achievement and Future Prospects

Bitcoin recently reached a historic milestone by surpassing the $100,000 price mark, a significant achievement 15 years after its inception. This milestone has fueled Bitcoin advocate Samson Mow's prediction of a future price target of $1 million. Mow's optimistic outlook is shared by many in the crypto community, symbolized by the "laser eyes" on his profile picture. The recent Bitcoin halving event, which further limits supply, coupled with increasing corporate acquisitions, supports this bullish projection. Companies like MicroStrategy continue to acquire Bitcoin, suggesting potential for further demand if major players such as Microsoft enter the market.