The cryptocurrency world continues to churn with new developments. The upcoming release of an XRP documentary, Shiba Inu’s move towards DAO governance, and a surprising surge in PEPE token liquidations.
XRP Documentary Set for November Release
Fans of Ripple (XRP) can mark their calendars for November. A documentary titled “XRP Unleashed” is scheduled for release on platforms like Amazon Prime and Apple TV, according to an announcement by Fruition Productions, the film’s production company. Fruition opted for self-distribution, meaning the documentary won’t have the official backing of these streaming giants.
Interestingly, the documentary team revealed that Ripple CEO Brad Garlinghouse and his executive team declined to participate. However, they did secure an interview with Ripple CTO David Schwartz. This suggests the film will offer a perspective from within Ripple, even if not from the very top. Fruition Productions commented on the CEO’s absence, stating they understood the company’s potential resistance to potential “story compromises” and the filmmakers’ choice not to rely on “celebrity.”
Shiba Inu Eyes DAO Governance as the “Next Step”
Shiba Inu (SHIB), the popular meme coin with a devoted following, is taking a step towards decentralized governance. The project’s marketing lead, Lucie, recently shared an article outlining the launch of DAO (Decentralized Autonomous Organization) Governance as the “next step” for SHIB. Under this system, SHIB holders will have a say in the project’s future direction.
The article details a two-council governance structure. The Charity Council will manage the Shiba Inu community’s charitable efforts, while the Culture & Heritage Council will oversee the preservation of the project’s cultural identity. This DAO framework promises to further solidify SHIB’s reputation as a community-driven project. While an official launch date for the DAO system remains unknown, it’s a significant development for SHIB’s future.
PEPE Liquidations Spike, Leaving Investors Wary
According to data from CoinGlass, liquidations for the meme coin PEPE surpassed those of its more prominent counterparts like Dogecoin (DOGE) and Shiba Inu (SHIB) in the past 24 hours. This translates to roughly $2.33 million in liquidations, with long traders suffering the most significant losses at $1.32 million. In terms of PEPE tokens, this liquidation event represents over 247 billion tokens.
While PEPE has experienced similar liquidations in the past, the sheer volume compared to SHIB and DOGE suggests increased investor scrutiny. Currently, PEPE is trading at a price of $0.000008347, down over 5% in the last 24 hours. This highlights the volatility inherent in meme coins and the potential for significant losses when speculation runs high.
Conclusion
This week’s news brings a mix of stories, from the potential impact of a documentary on XRP adoption to the evolving governance structure of Shiba Inu and the cautionary tale of PEPE liquidations. As the crypto world continues to evolve, these developments underscore the importance of staying informed and conducting thorough research before investing.
