The cryptocurrency world continues to churn with developments, with Shiba Inu, a popular meme coin, revealing its long-term vision, a legendary trader offering insights into his success, and large Ethereum movements sparking questions.
Shiba Inu Eyes the Future
In a recent post, Shytoshi Kusama, the anonymous lead of the Shiba Inu project, outlined the dog-themed meme token’s path forward. Kusama hinted at the role of TREAT, an upcoming token within the Shiba Inu ecosystem. By holding TREAT, users will gain access to advanced features. Additionally, partnerships are being finalized to empower the Shiba Inu system.
Kusama also acknowledged his eventual departure from the spotlight, emphasizing that Shiba Inu is nearing the completion of Ryoshi’s vision for a leaderless, decentralized project. Fans were treated to another exciting announcement: SHIBACON 2024, the project’s own conference, will be held in Bangkok, Thailand, coinciding with DevCon.
Trading Secrets from a Master
For those following Peter Brandt, a renowned trader with five decades of experience, a recent social media exchange offered a rare glimpse into his strategies. Responding to a comment, Brandt shed light on his approach to futures and forex trading. Notably, he revealed his avoidance of trendlines, most indicators, day trading, and taking losses. Market fundamentals, win rates, and following the herd are also disregarded by Brandt.
His risk management involves keeping per-trade risk below 70 basis points, and he remains unfazed by stop-outs or emotional attachment to specific markets or assets.
Whale Movements Stir Ethereum
Uncertainty continues to plague the crypto market, with Ethereum whales making significant moves. Data from Whale Alert, a tracking service, revealed a large transaction yesterday. An unidentified wallet transferred 11,215 ETH, valued at roughly $34.35 million, to cryptocurrency exchange Coinbase.
This substantial movement suggests a potential sell-off, and the timing raises eyebrows, coinciding with a recent market downturn. Ethereum’s price has plummeted 16.68% in the last month, reflecting a broader market slump impacting Bitcoin and other major coins. While hopes for an Ethereum price recovery persist, this whale’s move, totaling nearly $34.35 million in ETH, could further pressure the market and drive prices down.
