U.today

In a recent tweet, a co-founder and the former chief executive officer of the world’s largest crypto exchange, Binance, Changpeng Zhao (often known simply as CZ), pretended to be citing the famous prime minister of the UK, Winston Churchill.

Adding his name for fun and to slightly mock those who love to cite the great on every corner, Zhao revealed a crypto message left to us by the great British politician of the last century.

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CZ tweeted that “success is not final, failure is not final.” It is “the courage to HOLD that counts,” he stated, adding the name of Churchill to his message.

Success is not final, failure is not fatal: It is the courage to HODL that counts. - Winston Churchill

— CZ 🔶 BNB (@cz_binance) June 7, 2025

CZ remains a highly respected figure and an influencer in the cryptocurrency space, even despite stepping down from the position of the Binance CEO in November 2023 and spending four months in prison the following year.

Earlier this year, CZ was appointed as a strategic advisor to Pakistan’s new Crypto Council.

Dog-themed cryptocurrency Dogecoin (DOGE) is closing in on a major adoption milestone, that of 8 million holders. Dogecoin's user base is quietly growing, indicating that investor interest and adoption remain strong.

According to on-chain analytics firm Santiment, Dogecoin boasts 7.97 million holders, reinforcing its status as one of the most widely adopted cryptocurrencies in the market.

📈 As crypto markets attempt to rally at the end of the work week, crypto networks continue to grow over time. Here are the total amount of holders for select top caps:🪙 Ethereum $ETH: 148.38M Holders🪙 Bitcoin $BTC: 55.39M Holders🪙 Dogecoin $DOGE: 7.97M Holders🪙 Tether… pic.twitter.com/wKBXHV0BrF

— Santiment (@santimentfeed) June 6, 2025

Aside from Ethereum and Bitcoin, which each had 148.38 million and 55.39 million holders, Dogecoin led the way among major cryptocurrencies in terms of holder count.

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Holder count is a key indicator of network health. In the long run, the total number of addresses having a balance reflects the interest in holding and investing in a specific crypto asset.

In shorter time frames, the total number of addresses having a balance might provide insight into trader positioning and perhaps be a leading indicator of price activity.

What to expect for Dogecoin price?

Following an early sell-off, the larger crypto market appears to be attempting a relief rally around the end of the workweek. Dogecoin was not exempt from the rebound, up 4.02% in the last 24 hours to $0.187. DOGE rebounded on Friday after a three-day drop, which hit lows of $0.168, and the recovery continued on Saturday.

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Analysts now see $0.20, which coincides with the daily SMA 50, as an intermediate resistance level for DOGE. If Dogecoin breaks above that level on high volume, the increasing holder count may enhance upward momentum.

Dogecoin continues to swing in a wide range between $0.14 and $0.26. The next trending move could start with a breach below $0.14 or over $0.26. If the $0.14 level falls, Dogecoin might plummet to $0.10. On the upside, a break above $0.26 may send Dogecoin to $0.38.

The weekend has started with overall market growth, according to CoinStats.

BTC/USD

The price of Bitcoin (BTC) has increased by 1.44% over the last 24 hours.

On the hourly chart, the rate of the main crypto is near the local resistance of $105,718.

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If a breakout happens, there is a chance of a test of the $106,000-$107,000 area shortly.

On the bigger time frame, the picture is also bullish. If buyers can bring the price of BTC above the $106,329 level, the accumulated energy might be enough for a move to the $108,000 zone.

From the midterm point of view, the rate of BTC has made a false breakout of the resistance of $100,764. However, buyers might need more time for further growth. In this regard, sideways trading in the range of $104,000-$108,000 is the more likely scenario.

Bitcoin is trading at $105,550 at press time.

On Saturday, June 7, Dogecoin (DOGE) experienced a sharp 56% decline in trading volume, according to data from CoinMarketCap. Historically, such a steep drop in volume often signals the potential for further price weakness, though DOGE has shown mixed signals in the short term.

At the time of writing, Dogecoin is trading at approximately $0.1869, reflecting a 4.89% increase over the past 24 hours.

Its market capitalization currently stands at $27.96 billion, with 24-hour trading volume rebounding to $922.18 million — a 56.46% rise from the prior day.

Dogecoin’s fully diluted valuation (FDV) matches its market cap, and its volume-to-market cap ratio is 3.33%. The total supply of DOGE remains steady at 149.58 billion tokens.

DOGE price action on Friday had turned bearish, aligning with a broader crypto market sell-off. Investors reacted to mixed macroeconomic indicators, prompting a wave of profit-taking and reversing the bullish momentum that had driven markets higher in previous weeks.

Musk's fallout

Dogecoin’s price movements have long been tied to Elon Musk’s activity and public statements. After his resignation from the Department of Government Efficiency (D.O.G.E.), the meme coin’s performance appears to have become less reactive to his influence — though not entirely disconnected.

Recent tensions between Musk and the U.S. President have sparked turbulence in broader markets. Tesla shares plunged sharply on Thursday, erasing $152 billion in market capitalization — the largest single-day loss in the company’s 15-year public history.

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This event sent shock waves through Musk-affiliated assets, including Dogecoin, which often benefits from his endorsements or suffers during controversies.

As Dogecoin’s technical indicators flash mixed signals and macro uncertainty continues, traders are watching closely to determine whether this bounce in price and volume is the start of renewed momentum or just a short-lived reaction.

The correction has not lasted long, and most of the coins are back in the green zone, according to CoinStats.

DOGE/USD

DOGE has gained a lot of value today, going up by almost 5%.

Despite today's growth, the rate of DOGE keeps looking bullish on the hourly chart. If the daily bar closes above the resistance, the upward move is likely to continue to the $0.19 zone and above.

On the bigger time frame, the price of the meme coin is rising after yesterday's bullish closure.

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If nothing changes, there is a possibility of a test of the resistance within the next few days.

From the midterm point of view, one should focus on the weekly candle closure. If it happens with a long wick, bulls might locally seize the initiative, which can lead to a bounce to the $0.20 mark.

DOGE is trading at $0.1879 at press time.

In a surprising development, Shiba Inu (SHIB) saw essentially no change in the last seven days in large holder inflows, an indicator that tracks the funds going into addresses belonging to either whales or large holders.

According to data from IntoTheBlock, SHIB's large holder inflows recorded a mere -0.10% change over the past week, with the actual explanation for the drop unknown.

The most notable drop was on June 5, when large holder inflows plunged from 3.07 trillion SHIB on June 4 to just 287.97 billion SHIB — a sharp over 90% decline in just 24 hours.

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The decline coincides with a drop in Shiba Inu prices earlier this week, with SHIB falling from a high of $0.00001345 on June 3 to a low of $0.0000119 on June 5.

However, the fact that SHIB only saw a -0.10% change, despite the June 5 dip, suggests that some stability may be returning. This could imply the decline was possibly a reaction to short-term volatility in the broader crypto market.

Shiba Inu whales in observation mode

Shiba Inu large holder outflows, which denote funds moving out of whale addresses, showed a negative change of -55% in the last seven days, signaling whales might be in observation mode but with little accumulation, while large holder netflows increased by 67% during the same period.

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This could simply be a pause before the next move, especially as the market digests macroeconomic signals and broader sell-offs.

Shiba Inu returned to a support level of $0.0000119 on Friday after a three-day fall due to market uncertainty. Positive momentum was sustained during the early Saturday session. As of this writing, SHIB was up 3.10% in the last 24 hours to $0.00001282 and 3.70% weekly.

On the upside, Shiba Inu would face an immediate barrier at $0.00001389, which coincides with the daily SMA 50, ahead of the daily SMA 200 at $0.00001745.

The market has slightly switched to green today, according to CoinMarketCap.

ADA/USD

The rate of Cardano (ADA) has gone up by 1.42% over the last day.

On the hourly chart, the price of ADA is testing the local resistance of $0.6705.

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If buyers can hold the gained initiative and the candle closes around that mark, there is a chance of a breakout, followed by a move to the $0.6750 mark.

On the bigger time frame, the rate of ADA is in the middle of the channel. Even if today's bar closes bullish, buyers might need more time to accumulate energy for a further move.

From the midterm point of view, the weekly bar is about to close with a long wick. If that happens, traders may witness a local bounce back to the $0.70 zone.

ADA is trading at $0.6685 at press time.

Cardano (ADA) has witnessed a slight uptick in open interest as investors bet on the asset's future outlook. CoinGlass data signals Cardano whales are driving ADA’s recovery journey as it breaches the $0.65 resistance level.

ADA whales drive futures activity despite low volume

In the past 24 hours, Cardano’s open interest increased by 0.27% as investors committed $811.85 million to acquire 1.21 billion ADA.

Large holders are clearly on a buying spree, trying to push prices up from their current low levels. As of press time, ADA wasexchanging at $0.6699, representing a 2.42% increase in the last 24 hours.

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Despite the increased price and whales betting on Cardano, volume remains low at $529.41 million. This is equivalent to a 44.74% decline within the same time frame.

If ADA is to climb higher, the Cardano ecosystem, especially retail investors, needs to become active to support the bullish signals.

Currently, market activity is dominant on Binance, Bitget, Gate.io and Bybit. Notably, Binance leads with $184.84 million committed to ADA’s futures market, representing 22.76% of total open interest. Bitget, Gate and Bybit traders committed $144.14 million, $131.80 million and $109.07 million, respectively.

Hence, retail investors on these exchanges could mirror whales' actions to support price action.

Cardano to $0.75: Potential triggers

With ADA’s price on the verge of entering the $0.70 zone, Cardano bulls must push and sustain the recovery momentum. The asset needs to flip $0.75 to stand a chance at breaking other key resistance levels.

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If Cardano fails to surge toward the critical $1 price level, it cannot reclaim the ninth position from Tron. As per the ranking by market cap, recently, Tron dethroned Cardano as its price kept slipping far away from the $1 mark.

The ability of market participants in the ecosystem to rally around Cardano might decide the next price movement for ADA.

The king of meme coins, Dogecoin (DOGE), is facing sell-off pressure as trading volume is down by 51.14% at $998.95 million. However, DOGE’s Bollinger Bands suggest a potential end to the bearish sentiments anytime soon.

Dogecoin near oversold territory

As per CoinMarketCap data, Dogecoin’s Bollinger Bands short-term nine-day moving average remains trading below the 21-day average. With DOGE trading right at the lower end of the bands, it suggests that the meme coin is nearing the oversold region, and the price might likely change as the sell-off eases out.

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Notably, the Bollinger Bands indicate overselling is in and a potential imminent price reversal for DOGE. The current setup often precedes a significant price shift of an asset, and Dogecoin looks to experience the same soon.

Meanwhile, the plunge in trading volume shows declining interest from market participants as buyers are reluctant to continue buying the meme coin. This development could trigger a price recovery as demand drops and prices begin to appreciate.

As of this writing, DOGE was changing hands at $0.1870, representing a 5.38% increase in the last 24 hours. This uptick indicates that buying interest is gradually returning.

However, if volume stays down and does not return to the green zone, the price rebound could lose momentum and slip back.

What could trigger DOGE rebound?

Dogecoin needs to hold above $0.170 and stabilize to attract buying interest from traders. This could support a rebound to higher levels of $0.2. Without increased volume or a broader market catalyst, the recovery risks further decline.

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Bitcoin is also on an upward trajectory in the broader market, gaining 1.43% in the last 24 hours. This uptick could rub off on Dogecoin and other altcoins.

Unlike DOGE, Bitcoin volume outlook is better off despite being in the red zone. Bitcoin has a 28.92% decline in volume at $44.45 billion.

Other bullish ecosystem indicators are the recent spike in open interest, which increased by a significant 1.78% despite volatility threats. This suggests investor confidence has not waned in the meme coin.

On June 6, Ethereum spot ETFs recorded a net inflow of $25.22 million, extending their streak to 15 consecutive days of positive inflows, according to SoSoValue. This continued momentum has further cemented Ethereum’s lead over Bitcoin in terms of weekly ETF activity.

Combined, all U.S.-based spot Ethereum ETFs have now attracted over $281.07 million in inflows over the past week, significantly outperforming Bitcoin ETFs, which experienced $128.81 million in net outflows during the same period.

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Bitcoin ETFs saw their inflow streak snapped on May 29, following a sharp $346.8 million outflow. In contrast, Ethereum’s inflow streak has brought in $837.5 million to date. This represents roughly 25% of the total $3.32 billion in net inflows since spot Ethereum ETFs launched in July 2024.

If the current pace continues into the coming week, an additional $162.5 million in inflows would push the streak's cumulative total to $1 billion, marking a major milestone for Ethereum ETF adoption.

Ethereum price activity signals potential volatility ahead

Meanwhile, Ethereum's price action is drawing attention after a major whale transfer on June 5. A single transaction moved 61,966 ETH ($159 million) between unknown wallets, triggering speculation within the crypto community. At the time of the transfer, Ethereum was trading at $2,579.08 per token.

Since then, the price has dipped, with ETH currently trading at $2,495 and seeing a 44% drop in trading volume.

After weeks of consolidating within a narrow ascending channel, Ethereum has slipped below the key 200-day EMA. This breakdown may suggest the beginning of a more extended correction phase.

However, unless volume picks up, the likelihood of significant price moves remains low in the near term. For now, all eyes remain on Ethereum’s ETF-driven momentum as investors wait to see if it translates into lasting price strength.

XRP in the last 24 hours rebounded from $2.15 to over $2.17 as the asset signals a growing recovery in the market space. Despite this development, XRP’s death cross remains at play and is expanding as the MA Cross indicator teases.

XRP's volume declines undermine price action

CoinMarketCap data shows that investors have pulled back from transacting XRP within this period. The trading volume has suffered a massive 49.55% decline to $1.74 billion.

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This suggests that the slight price increase could have been triggered by speculative news about XRP and not substance-driven. More market participants might have been interested if volume had aligned with the price increase.

However, XRP’s death cross, confirmed in late May, appears to affect the asset still. Notably, the death cross is a bearish technical pattern that suggests a potential decline in price due to weakening short-term momentum.

XRP’s recent 1.58% price increase might be considered a short-term recovery, as volume has stayed in the red zone. Additionally, XRP must break out above critical resistance levels such as $2.40 and $2.50.

If the asset can find stability above $2.50, it could help invalidate the bearish death cross that has kept it below $2.30 since the last days of May 2025. As of this writing, XRP was trading at $2.18.

Bullish sentiment builds despite price resistance

Despite XRP’s current performance, community sentiments remain bullish. Many anticipate that XRP could still break out in a pattern similar to its 2017 cycle. These optimists are convinced that XRP is consolidating and could break out at another mega rally soon.

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XRP veterans predict this upward movement could occur in the next three or four weeks. However, for this to happen, XRP needs stability above $2.50.

XRP chart analysis shows that the asset needs to break the $2.20 resistance zone and above it to avoid slipping below the $2 level again. How XRP manages this will interest investors and the broader market.

Over the last two weeks, Bitcoin has rallied to a new high of $111,800, briefly exceeding the previous all-time high set in January 2025. However, this gain was followed by a retracement, implying a possible pause in bullish momentum.

With signs of older investors selling, the bulls now confront a crucial test of their resolve.

According to Glassnode, the STH cost basis now stands at $97,100, which represents the average entry price for recent buyers. The +1 standard deviation band, which is generally associated with overbought or bullish breakout conditions, is at $114,800, while the -1 standard deviation band at $83,200 indicates an elevated level of downside risk.

With $BTC recently changing hands near ATHs, the Short-Term Holder Cost Basis offers key insight. It sits at $97.1k, with key thresholds (based off standard deviation bands) at $114.8k (+1σ) and $83.2k (–1σ). A breakout or breakdown from this range could define the next major… pic.twitter.com/nayH2TT6VX

— glassnode (@glassnode) June 7, 2025

As profit-taking by long-term holders began to weigh on momentum, these three levels, $114,800, $97,100 and $83,200, now define the statistical boundaries of short-term sentiment. A break above or below these levels might likely shape the next leg of the market direction, indicating whether momentum is returning or fading.

Key levels to watch

BTC reached a new all-time high of nearly $112,000 on May 22. According to Glassnode, the rise appears to be spot-driven, with probable support in accumulation zones of $81,000 to $85,000, $93,000 to $96,000 and $102,000 to $104,000.

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Based on the CBD heat map per Glassnode, many historical accumulation zones have flipped into distribution zones. Sellers in the $25,000 to $31,000, $38,000-$44,000 and $60,000-$73,000 ranges are now weighing on price action.

Cost basis quantiles and short-term holder bands indicate immediate support near $103,700 and $95,600, with resistance at $114,800. These levels are statistically significant markers of broader sentiment shifts.

Notably, top buyers from Q1, 2025, who held through the downturn below $80,000, are now again being tested as the market moves sideways. At the time of writing, Bitcoin was up 1.05% in the last 24 hours to $104,925 following its drop to lows of $100,377 on Thursday.

XRP, the fourth-largest cryptocurrency by market capitalization, has shown indications of recovery after two consecutive days of losses on Wednesday and Thursday, rebounding during Friday’s trading session and carrying that momentum into early Saturday. XRP rose to $2.192 on Friday after finding support at $2.08.

Over the past 24 hours, XRP is up 2.18%, currently trading at $2.18, providing some respite to holders after the recent drop.

However, while price action appears encouraging, a significant drop in trading volume is generating concerns in the market. According to CoinMarketCap data, XRP’s 24-hour trading volume has dropped 48.96%, reaching $1.76 billion.

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While XRP’s price action has regained ground, resistance remains in the $2.50-$2.60 range. The market remains cautious, with traders looking to the potential ETF decision as a trigger for a fresh breakout.

Is it concerning?

XRP's week-long price movement was impacted by a combination of fundamental developments and market speculation. China-based Webus International announced plans to build a $300 million XRP-focused corporate treasury, as per SEC filing.

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Ripple recently won approval from Dubai regulators for its RLUSD stablecoin, a positive development for the XRPL ecosystem.

Meanwhile, the market awaits a decision on Franklin Templeton's proposed spot XRP ETF, which is due on June 17. Approval may attract significant institutional inflows, potentially affecting XRP liquidity.

Technically, a decisive break above the daily moving averages of 50 and 200 at $2.26 and $2.34 would be watched for XRP to advance its move. XRP remains within a symmetrical triangle formation, indicating potential breakout scenarios if volume increases and resistance is broken.

According to data provided by the public tracker Shibburn, over the past day, the burn rate of the second-largest meme cryptocurrency, SHIB, has gone down significantly and currently remains in the red zone.

Meanwhile, the crypto market seems to be recovering for now, with Bitcoin and other major cryptocurrencies showing growth over the past 24 hours.

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SHIB burns in red despite market going green

The burn rate has plunged by nearly 9%, according to the Shibburn website. Still, despite the decline, the platform registered a total of 4,591,026 SHIB coins transferred by the global SHIB community out of the circulating supply.

There have been 10 burn transactions so far, but they mostly removed small SHIB bits from circulation. The largest burn transfer, which took out almost the entire amount of SHIB mentioned above, carried 4,143,153 SHIB to an unspendable blockchain wallet approximately nine hours ago.

Bitcoin logs in recovery

Over the past two days, the world’s largest cryptocurrency, Bitcoin, has managed to recover by 4.56% after collapsing by nearly 5% on Thursday.

The Bitcoin growth in the past 24 hours constitutes 1.8% with BTC changing hands slightly above the $105,000 level at the time of this writing. The rest of the top cryptocurrencies followed suit.

Michael Saylor, a co-founder and now the executive chairman of Bitcoin treasury company Strategy (formerly known as MicroStrategy), has addressed the global BTC community with a victorious message about his company and the world’s largest cryptocurrency, BTC, that powers it.

An infographic he shared shows how Bitcoin has helped Strategy outperform tech titans, as well as gold and BTC itself, over the past year.

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"Strategy is fully torqued Bitcoin"

The infographic published by Saylor reveals that in terms of a year return growth Strategy has outperformed major tech giants, including Tesla, Meta, Nvidia and Microsoft. Also, MSTR has left behind gold and the asset that has helped MSTR to achieve this amazing result — Bitcoin itself.

MSTR has surged 2x compared to Tesla — 126% versus 66%. Tesla is followed by BTC (+48%), Meta (+41%), gold (+39%). Those are followed by Nvidia, Amazon, Invesco QQQ Trust, S&P 500, Microsoft, Apple and others. Those growth figures are well below Tesla, BTC, Meta and gold, with Nvidia’s one year returns starting at 17%.

Strategy is fully torqued Bitcoin. pic.twitter.com/Dqu6RKY7b7

— Michael Saylor (@saylor) June 6, 2025

“Strategy is fully torqued Bitcoin,” Michael Saylor tweeted.

When XRP tests its 200-day Exponential Moving Average, a crucial long-term support level that has continuously served as a base for reversals throughout the asset's history, it is at a pivotal point. Pressure is increasing, and a major downward spiral could be triggered if this line is not maintained.

A robust intraday bounce from the 200 EMA indicates that buyers are still defending this level as XRP is currently trading close to $2.16. But the possibility of a breakdown is very real. The next likely support zone, which is dangerously lower and around the $1 mark, would essentially cut XRP's value in half from its recent highs if the asset decisively loses this support.

This is the final genuine chance for XRP to rise before it plunges into bearish oblivion at its current level. With lower highs regularly forming and a descending triangle pattern evident, price action over the last few weeks has already demonstrated weakness. Concern is further increased by the decreasing volume, which shows that even as the asset gets closer to a crucial price point, fewer participants are expressing interest.

A neutral but somewhat bearish bias is indicated by the RSI, which is currently just below 45. On the other hand, a reversal pattern may begin if bulls are able to push XRP above the group of resistances around $2.25-$2.26, including the 50 and 100 EMA levels. That would ease some of the pressure and possibly rekindle the momentum in the direction of $2.50 and higher.

Shiba Inu plunges

With a sharp decline below a crucial horizontal support level that served as a solid foundation for several previous bounce attempts, Shiba Inu has taken yet another bearish hit. The price, which is now trading at about $0.00001230, has broken below the local trendline support, indicating a sharp decline in the sentiment of the short-term market. The technical configuration presents a concerning image.

A classic bearish signal, the asset is currently trading firmly below the 50, 100 and 200 EMAs, with all three moving averages pointing downward. Above all, the decline toward the next psychological and structural support level, which is close to $0.00001000, is made possible by the loss of the mid-May support level, which is located around $0.00001300. Significant trading volume coincided with this most recent breakdown, confirming the sell-side pressure.

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According to RSI readings which are currently at 43, SHIB is getting close to oversold territory, but more downside is possible before a possible reversal is feasible. From a wider angle, Shiba Inu has been trapped in a protracted downward trend since its peak in late 2023, and the most recent price movement only serves to confirm that direction.

Sellers maintain control if there are no fresh catalysts, either technical or fundamental, to boost demand. In the next few days, momentum traders may pile in with short positions speeding the decline to $0.00001000 if SHIB is unable to recover and close above the $0.00001300 zone.

Shiba Inu may either stage a midterm recovery or continue to decline toward multi-month lows depending on how the price responds at that level, which is both a psychological threshold and past active demand zone. Caution is still advised for the time being. It is obvious that SHIB has lost yet another important foothold, and the ascent will be more difficult than before.

Bitcoin stabilizes

Following a steep decline from recent highs close to $112,000, Bitcoin seems to have stabilized, landing directly on top of the 50-day EMA. The price is currently trading at about $104,000, and the robust intraday bounce today suggests that bulls are not quite ready to give up. In technical terms, the 50 EMA is frequently used as a dynamic support level, and Bitcoin respecting it is encouraging for a quick recovery.

After cooling off from overbought conditions, momentum indicators like the RSI are now rising from neutral territory, indicating that there may be more upside. However, Bitcoin's position in relation to the 26 EMA may add even more intrigue. This short-term average could serve as the starting point for a swift relief rally, if it is decisively moved above. Bitcoin may quickly retest the $107,00-$108,000 range if buyers intervene with volume.

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This bounce, however, does not imply that there is no obstacle in the way. In order to verify a significant reversal, the price must hold the 50 EMA and recover the 26 EMA in the upcoming sessions. Failure to do so could result in a return to the crucial technical and psychological support level at $100,000, which also coincides with the horizontal resistance-turned-support level from the breakout in April.

Volume is still an issue. There is a reason to question the market's commitment to this rebound given that the most recent uptick did not coincide with notable volume expansion. We will have to watch the EMA levels determine sentiment until Bitcoin either breaks below $100,000 or surges with volume. It is unclear if the short-term bullish recovery in Bitcoin will turn into a full-fledged breakout or merely a dead cat. Bulls have not run out of gas yet, and Bitcoin is back in the game.

Based on a Whale Alert announcement via X, 2,542,712,471,794 Shiba Inu (SHIB) were sent from an unknown wallet to Coinbase Institutional, worth about $31,651,684 USD.

Moving a large number of SHIB tokens to Coinbase Institutional indicates that bigger investors and institutions are involved in the transaction. As a result, there might be an increase in demand from large token holders, known as whales, and this usually plays a part in affecting prices.

If a large number of investors buy the token, it could lead to a higher price. If other market conditions are positive, SHIB’s price could also rise. So, traders should monitor the situation as it may help them profit over the short term.

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Some investors may decide to explore Shiba Inu further if they believe it can be a useful addition to their portfolio in the future. With Coinbase involved in the transfer, it could heighten the coin’s trustworthiness.

With a mystery surrounding the wallet and its owner, there is a chance that a major crypto investor is selling some of their assets. Monitoring how the market responds over the next few days could teach valuable lessons about supply, demand, and the impact of big transactions.

While risks remain, prices can swing both ways. But the potential for gains makes the trend worth watching.

Shiba Inu shows a slight rise in value

TradingView’s chart for the 4-hour timeframe reveals that SHIB rose slightly and is currently trading at 0.000012482, an increase of just 0.10% over yesterday’s price.

Traders showed their even interest by recording 3.6 billion SHIB in the past 24 hours.

With an ADX indicator of 27.19, the trend for this token was slightly strong. At the same time, the MACD barely changed, and its histogram was at a small loss that rested very close to zero.

This signals that the token’s market is not heavily tilted in favor of the bulls or the bears for now. With no big changes in SHIB’s price, it indicates that it is consolidating for now.

The value of the RSI stands at 40.97, slightly crossing over the neutral level at 37.73. This means, that Shiba Inu can still gain value before being in the oversold area.

Knowing the position of the RSI gives traders the chance to decide if they should stay out of the market or plan their next action.

Three major financial firms, VanEck, 21Shares, and Canary Capital, sent a letter to the U.S. Securities and Exchange Commission (SEC), raising concerns about how new exchange-traded funds (ETFs) are approved.

According to the letter, shared by James Seyffart on X, the SEC previously followed a “first-to-file, first-to-approve” rule when deciding which ETFs could launch. The crypto ETF issuers that submitted an application for an ETF initially were typically approved first, which allowed them to have an edge over others.

The same happened with the introduction of Bitcoin and Ethereum ETFs, where top ETF issuers had the upper hand at the beginning.

However, according to VanEck, 21Shares, and Canary Capital, the SEC is now adopting a different method, which is harming small firms and slowing growth in the ETF market.

SEC favoritism undermines innovation in the ETF market. pic.twitter.com/HM7P2Dm0XP

— VanEck (@vaneck_us) June 6, 2025

In their message to SEC Chairman Paul Atkins, they mention that the move makes it difficult for small or new firms to compete with the more established firms.

If top companies have the advantage, they will attract more investors and control a bigger piece of the market, which reduces the availability of ETFs that could profit traders.

If smaller firms can launch new ETFs more easily, investors might get more products that interest them or which could offer higher returns.

Seeking fair crypto ETFs approvals

The firms also warn that the SEC’s current approach could discourage companies from creating new ETFs altogether, which would limit choices for investors. They want the SEC to modify its process so that it is fairer and inspires more new crypto ETF issuers.

If the SEC pays attention, traders and investors would benefit from more ETF options, which could help them get better returns and better manage their risks. Right now, no statement from the SEC has been made about the situation.

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Moreover, the letter was sent to other commissioners, like Hester Peirce, who has expressed interest in clearer crypto legislation. Should the U.S. regulator accommodate these suggestions, intending crypto ETF issuers can file early to have an edge since the approval timeline has become more predictable.

Meanwhile, spot BTC and ETH ETFs continue to register mixed performances. For instance, BlackRock’s BTC ETF failed to register any inflow in the last day despite leading in inflows over the past few months.

Earlier this Friday, Whale Alert, a widely used service that tracks large cryptocurrency transfers, revealed that Ripple had sent $498 million worth of XRP tokens to an unknown wallet.

The community has been puzzled by the massive transfer, with one user pointing out that it is already too late for escrow moves.

Asreported by U.Today, Ripple unlocked a billion XRP tokens on June 4. Prior to this, the company locked 670 million tokens in escrow.

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Some have interpreted the recent transfer as a bearish sign for the XRP token.

According to the CoinGecko data, XRP is currently trading at $2.18 after adding 3% over the past 24 hours.

Earlier this Friday, 50 million XRP tokens ($108 million at the time of the transfer) were also sent from an unknown wallet to an unknown wallet.

Greg Kidd, former chief risk officer (CRO) at enterprise blockchain company Ripple, is buying a controlling stake in medical technology company Known Labs.

Once the deal closes in the third quarter of the year, Kidd will become the CEO of Know Labs and the chairman of the company's board.

The stake will be acquired with 1,000 Bitcoin (roughly $105 million at press time) and some cash.

Kidd will use the coins to implement a Bitcoin treasury strategy, meaning that it will own and hold them.

Taking a page from the famous playbook of Michael Saylor's Strategy, Known Labs will make the flagship cryptocurrency its core value proposition. However, it is also worth noting that its medical research will continue within a separate division.

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Bitcoin is expected to represent 82% of the company's total market cap.

As reported by U.Today, Ripple CEO Brad Garlinghouse recently opined that the Bitcoin community should not be viewed as an enemy of XRP holders, advocating for unity within the industry.

Ripple co-founder Chris Larsen also recently praised Bitcoin for the substantial progress toward environmentally responsible mining.

XRP's corporate adoption momentum

In the meantime, XRP is gaining substantial momentum on the corporate adoption front. As reported by U.Today, Webus International, a Chinese cryptocurrency firm, has officially submitted a plan to set up a $300 treasury with the Ripple-linked cryptocurrency.

On top of that, VivoPower and Wellgistics are also exploring XRP treasuries that would be worth $121 million and $50 million, respectively.