Shiba Inu price garnered significant investor attention on Saturday, surging against the backdrop of a weekly SHIB burn saga. The latest burn metrics by the coin’s community indicated a staggering 535 million tokens destroyed in the past 7 days. As an upshot, traders and investors eye looming price gains, whilst a renowned market analyst further highlights the potential for a 22% rally soon. Shiba Inu Price Bullish As 535M Tokens Burnt Weekly SHIB coin’s price today gained over 2% intraday and closed in at $0.00001276. The meme coin bottomed and peaked at $0.00001244 and $0.0000129, respectively. For context, the rising price trajectory aligns with the massive blow to the supply brought by a phenomenal weekly burn chronicle. According to the data from Shibburn on X , 535.85 million SHIB tokens were burnt over the past seven days, resulting in a 415% upswing in the weekly burn rate. With this massive burn weighing in, a staggering 410.49 trillion coins have been burnt to date in total. For context, the burn mechanism deals a massive blow to the meme coin’s market supply by sending tokens to a null address. Therefore, crypto market traders and investors anticipate a bolstered effect on Shiba Inu price amid reduced supply, mirroring the law of supply and demand. Intraday Burn Meanwhile, the intraday burn data indicated that 5.11 million coins were destroyed in the past 24 hours. The constant burns further fuel market optimism surrounding the crypto’s long-term price prospects. Notably, a total of 999.99 trillion SHIB tokens were created, of which roughly 410 trillion have been destroyed to date. Yet, market watchers eagerly await phenomenal returns as the current bull cycle halted amid macro heat. Can SHIB Price Gain 22%? Nevertheless, with the broader crypto market showing a recovery trend this weekend, investors remain optimistic about future movements. As mentioned above, Shiba Inu’s price entered the green zone leveraging its burn rate surge today. In the midst of this optimism, a crypto market analyst took to X, revealing crucial price statistics. As per analyst ‘Rose Premium Signals,’ SHIB recently challenged the upper resistance of a falling wedge pattern on the 4H chart, marking a crucial move. Source: Rose Premium Signals, X In the wake of this trajectory, if the price manages to break out above the MA 50, a bullish momentum can be confirmed. The analyst spotlights the next price targets at $0.00001375, $0.00001485, and $0.00001565, which is up nearly 22% from the current level. The post Shiba Inu Price Jumps Amid Massive 535M SHIB Token Burn, 22% Gains Ahead? appeared first on CoinGape .
The United States authorities have docked crypto influencer Thomas John Sfraga for 45 months for wire fraud. According to an announcement by the United States Department of Justice (DOJ), the crypto influencer TJ Stone committed wire fraud, scamming investors out of more than $1.3 million. In the announcement, the DOJ mentioned that Sfraga, who had already pleaded guilty in May 2024, was sentenced in the Eastern District of New York. According to the authorities, TJ Stone lied to investors, posing as the owner of multiple businesses, including Vandelay Contracting Corp, a name he got from the sitcom Seinfeld. Authorities also said he presented himself as an emcee at several crypto events around New York. Sfraga convinced investors to invest in a fake cryptocurrency called virtual wallet, promising them returns as high as 60% over the next three months after their initial deposit. Instead of using the funds for the reasons he was paid, Sfraga was said to have used some of it for personal businesses and to pay off earlier investors, making it a Ponzi-like investment scheme. United States authorities arrest crypto influencer for fraud Aside from the prison sentence, Sfraga has been ordered to pay about $1.3 million in forfeiture, with his restitution amount to be determined at a later date. United States Attorney John Durham mentioned that he stole from several investors including his next-door neighbors and other people he was able to convince to invest in the cryptocurrency. “There was nothing funny about his use of a Seinfeldian company, Vandelay Industries, to carry out this fraud, which caused severe financial and emotional harm to the hard-working men and women who trusted him,” he added. According to the court filing, Sfraga carried out his criminal activities from 2016 to 2022, lying to investors about being the owner of multiple businesses which included Building Strong Homes LLC. Authorities connected his use of Vandelay Contracting Corp to a fictional Vandelay Industries to the TV show called Seinfeld. Authorities added that he defrauded about 17 victims, including investors from Brooklyn, Long Island, and Staten Island. Aside from his illegal crypto business, he also convinced other investors to loan him money or invest in multiple sham businesses, which he said involved purchasing, renovating, and sometimes flipping homes. The court filing noted that he convinced one of his victims to lend him $100,000 in cash to cover start-up costs on a construction project that was non-existence. New York intensifies crypto fraud crackdown United States authorities mentioned that they started looking into Sfraga after several investors filed complaints about him not fulfilling the end of their agreements. The lawsuit led to him fleeing to Arizona to live under a false identity. He was eventually apprehended in Las Vegas after he was arrested for running out on his bill at the Wynn Casino. This latest conviction is part of a broader crackdown on crypto fraud in New York after United States President Donald Trump appointed John Durham as the interim United States Attorney. Other notable cases involve that of SafeMoon CEO Braden John Karony, who has requested a delay in the case because of the shift in the approach to enforcement by the current administration. In addition, there have been some high-profile crypto personalities docked for several crimes that have explored the option of a presidential pardon. According to reports, former FTX CEO Sam Bankman-Fried has explored the option while still serving his 25-year jail term. Another personality is former Binance CEO Changpeng Zhao, who completed a four-month jail term in 2024, but Zhao has denied any interest in a pardon. The recent crypto personality vying for a presidential pardon is Roger Ver nicknamed Bitcoin Jesus, who is currently facing a life sentence for tax evasion and mail fraud. Several influential crypto personalities have spoken up for Ver, urging President Trump to grant him a pardon, with Ethereum co-founder Vitalik Buterin campaigning for him. The crypto community is still divided over the issue, with some seeing the case as the same with previously pardoned Ross Ulbricht, while others say he has to face the consequences of his actions. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot
Bitcoin (BTC) and other major cryptocurrencies maintained strong gains on Monday after a sharp weekend surge, fueled by former U.S. President Donald Trump’s announcement of a proposed U.S. Crypto Reserve . The initiative, unveiled on Sunday, included XRP, SOL, and ADA before BTC and ETH were added. The news, arriving just days ahead of the highly anticipated first-ever crypto summit later this week, sent Bitcoin soaring past $94,000. The total cryptocurrency market capitalization reclaimed the $3 trillion mark as traders scrambled to capitalize on the potential impact of the development. However, while many in the crypto community have lauded the announcement as a step toward legitimizing crypto assets nationally, others have raised concerns, questioning the timing and potential conflicts of interest surrounding the decision. One of the most immediate concerns surfaced after an anonymous crypto whale executed a highly leveraged trade just hours before Trump’s announcement. On Sunday morning, the trader went 50x long on Bitcoin and Ethereum, turning a $4 million position into $200 million. By the time the news broke, the whale had already exited most of their trades, securing a profit of just over $6.5 million in less than 24 hours, triggering widespread speculation about potential insider trading. Another point of controversy revolves around David Sacks, Trump’s newly appointed Crypto Czar. Derek Martin, founder of Pathfinder Research, pointed out that Sacks has long-standing financial ties to Bitwise Asset Management, which holds Bitcoin, Ethereum, Solana , XRP , and Cardano , the very assets included in the proposed Crypto Reserve. Martin argued that Sacks’ role as a major investor in Bitwise via Craft Ventures since 2017 suggests a potential conflict of interest, as the announcement directly benefited Bitwise and its investors. “These coins are all pumping like crazy on this strategic reserve announcement, which means Bitwise and it’s investors – like David Sacks – are making a ton of money right now .” Said Martin . “Congress must investigate and determine if David Sacks or Donald Trump’s personal investment holdings are driving US crypto policy.” However, in a separate post, Sacks quickly denied the allegations, stating, “I sold all my cryptocurrency (including BTC, ETH, and SOL) before the start of the administration.” He further clarified that he previously held a $74,000 position in the Bitwise ETF, which he sold on January 22. Dismissing claims of “large indirect holdings,” he assured that he would provide an update once the ethics review process is complete. Beyond concerns over insider trading and conflicts of interest, industry leaders have voiced differing opinions on the structure of the U.S. Crypto Reserve. In a tweet, Coinbase CEO Brian Armstrong suggested that Bitcoin alone might be the best choice, arguing that it provides the clearest narrative as a digital successor to gold. He proposed a market cap-weighted index of top cryptocurrencies to maintain neutrality. Meanwhile, Ki Young Ju, founder of CryptoQuant, offered a more geopolitical perspective, warning that the U.S. could be weaponizing cryptocurrency markets. He asserted that Trump’s policies have shifted moral standards in the industry, favoring assets that align with U.S. national interests. According to Ju, this strategy could marginalize Bitcoin and Ethereum, which have long sought neutrality as global digital assets.
Shiba Inu lead has been absent from social media platforms for almost a month
Dogecoin (DOGE) experienced a sharp rally on Sunday following former President Donald Trump’s announcement of a U.S. “Crypto Strategic Reserve.” Although DOGE was not mentioned , the second-largest meme coin surged nearly 20%, closing at $0.24. The announcement sparked significant whale activity, with popular crypto analyst Ali Martinez highlighting the trend early Monday. “Whales bought an additional 140 million DOGE in the last 24 hours,” Martinez tweeted. This followed a significant accumulation spree over the weekend, with whales amassing 910 million DOGE in just 48 hours. On Friday, Martinez reported that whales were “buying the dip,” acquiring more than 530 million DOGE over 72 hours. The renewed interest comes after a prolonged quiet period, particularly since January 25, when DOGE’s price began to decline, leading to a loss of investor enthusiasm and waning whale activity. However, the latest surge has reignited momentum, primarily driven by Elon Musk’s involvement with the Department of Government Efficiency (DOGE). The agency’s acronym aligning with Dogecoin’s name has sparked renewed excitement, mirroring its November 2024 rally when Trump announced the department, appointing Musk and Vivek Ramaswamy to key roles. This event triggered a 15% price spike. Speaking on The Joe Rogan Experience last week, Musk acknowledged the unexpected link between Dogecoin and the newly formed government agency. “Doge started as a meme coin, right? A joke cryptocurrency with memes and dogs. But somehow, the letters just lined up perfectly, ” Musk explained . “ Originally, I was going to call it the Government Efficiency Commission, which is a very boring name. Then people online were like, ‘No, it needs to be the Department of Government Efficiency,’ and I was like, you know what? You’re right.” Notably, the growing attention around DOGE and its unusual but high-profile connection to a government agency has fueled speculation that Dogecoin could also soon be considered for the crypto reserve becoming the first meme coin. If that happens, Dogecoin’s price and legitimacy could spike, solidifying its place not just as a joke, but as a serious asset in the evolving digital economy. With renewed interest and increasing whale accumulation, analysts predict further gains for DOGE. On Monday, analyst Kaleo shared a chart highlighting DOGE’s breakout from a multi-month resistance trendline. “DOGE is currently sitting at resistance from the downtrend it has been stuck under for the past two months. I wouldn’t be surprised if it takes a brief pause before breaking higher, but when it does, I expect the move up to be violent and much quicker than the move down.” Kaleo noted . At press time, the meme coin was retesting this critical level. Meanwhile, analyst ByllifyX pointed to a bullish flag formation, offering an even more aggressive outlook. “DOGE isn’t just mooning, it’s teleporting to another galaxy. $3+ soon. Stay bullish,” he stated. At press time, DOGE was trading at $0.17 reflecting a 1.19% surge in the past 24 hours.
Solana price has shed 62% from its ATH of $295.83, yet the unique meme coins or crypto tokens being created on the Solana (SOL) blockchain hit 40M in February. Is the SOL hype train a myth? Will price recover and kickstart an uptrend here? Let’s find out. Why 40M Unique Crypto Tokens Were Created On Solana Even as the Price Crashed 62%? The unique value proposition of PumpFun that allows investors even a layman to simply create a token with a click of a button is why the total unique crypto tokens on Solana Blockchain continue to explode. Even as SOL value shed 62% in the last 52 days, this metric continues to rise, showcasing that retail investors’ risk-taking appetite is yet to climax. Unique Crypto Tokens Created on Solana Blockchain Does this mean a reversal in Solana price is what’s next? Unlikely. The price action of Solana is dependent on the larger crypto market ecosystem and the macroeconomic policies that impact Bitcoin (BTC). So, what’s next for SOL? Will Solana Price Soar as Altcoin Dominance Hints Reversal? The altcoin dominance, which is the combined market capitalization of cryptocurrency ecosystem excluding Bitcoin. The recent recovery of altcoin market cap above $218 billion notes that a resurgence of bullish momentum. A decisive breakout above the $229 billion to $230 billion level will suggest a shift in market structure favoring bulls. Such a development will indicate that there could be a mini bull run, which pushes the market cap to the $300 billion to $310 billion range. Altcoin Market Capitalization Hence, investors can expect Solana, which is at the forefront of top altcoins to hold, to trigger a bullish reversal. How High Can Solana Go? Based on the recent price action, Solana has recovered above the February 28 swing low of $125, signaling a resurgence of bullish momentum. To add credence to the buying pressure, SOL has also produced a higher high on the daily chart. The next key support zone is $128 to $120, a bounce here could see the altcoin propel to the range high of $179. But ideal take profit levels based on bullish Solana price predictions extend from $180 to $186. SOL/USDT 1-day chart While Solana price action remains dependent on the larger crypto market ecosystem, the surge in unique crypto tokens and potential resurgence of bullish momentum in the altcoin market hint at a possible bullish reversal. The post Unique Crypto Tokens On SOL Hits 40M Even as Solana Price Crashes 62%, What’s Next? appeared first on CoinGape .
Dogecoin (DOGE) is potentially forming cup and handle formation on the weekly chart. Crypto analyst David (@david_dogecoin) suggests that, if confirmed, Dogecoin could be targeting an ambitious price target of $4. Dogecoin Cup And Handle Pattern The first stage of this pattern, the cup, began taking shape when Dogecoin initially declined from its May 2021 all time high at $0.74. This downward movement led to an extended consolidation period, where the asset gradually formed a rounded bottom in the $0.05–$0.06 range. The curvature of the price action suggests a slow but steady shift in market sentiment, where selling pressure was gradually absorbed by buyers accumulating DOGE at lower levels. As time progressed, Dogecoin started to recover from this bottom, pushing back towards its December 2024 high at $0.48. The gradual and steady rise back to this high signals that bullish momentum has been building, with increasing interest from market participants. Related Reading: Dogecoin Breakout Alert! This Pattern Could Trigger A ‘Parabolic’ Surge After reaching the $0.48 resistance level, Dogecoin faced a rejection, leading to a moderate pullback. This decline formed the handle, a smaller downward retracement that typically precedes the final breakout. The handle in this setup is forming around the $0.14–$0.17 price zone, where the market is currently consolidating. The handle serves as the last phase where weaker hands exit, and stronger buying interest gathers momentum before a decisive move higher. If Dogecoin successfully breaks out of the cup and handle pattern, the projected price target can be estimated using the measured move technique. This involves calculating the depth of the cup and adding that value to the breakout point. Based on this method, the expected target is around $4, according to the chart shared by analyst Kevin. Critique: Why This Is Not A Classic Cup And Handle A textbook cup and handle requires specific structural characteristics, including a rounded bottom and a shallow handle, forming near a prior all-time high or key resistance zone before a breakout. However, there are critical deviations in this analysis that cast doubt on its validity. Related Reading: Dogecoin’s Darkest Hour? Sentiment Tanks, Whales Accumulate The decline from $0.74 (May 2021 ATH) to $0.05–$0.06 is too deep and prolonged to be considered a proper cup formation. Classic cup patterns typically form over weeks to months, not multiple years of extended downtrend. The recovery from $0.05–$0.06 to $0.48 is not symmetrical with the initial drop, making the “rounded bottom” aspect of the cup questionable. Instead, the price action resembles a multi-year accumulation phase rather than a continuous rounding structure. Moreover, the handle is forming too deep in the structure. A valid handle should develop near the rim (i.e., close to $0.48), but in this case, Dogecoin has retraced all the way down to $0.14–$0.17—which is a massive drop of over 65% from the supposed cup rim. A healthy handle should not drop below 50% of the cup’s depth, but here, it retraces nearly to the lower third of the structure, invalidating the classical pattern. At press time, DOGE traded at $0.17. Featured image created with DALL.E, chart from TradingView.com
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The numbers are in, and Elon Musk’s so-called Department of Government Efficiency (D.O.G.E) is already falling apart. The U.S. Treasury Department’s daily reports show that despite Elon’s massive layoffs and budget cuts, the federal government is spending money even faster than before. Since January 21, 2025, when Donald Trump took office for his second term and put Elon in charge of federal budget cuts, the government has spent more than it did during the same periods in 2023 and 2024. Adjusting for inflation barely changes the picture—spending is still higher than last year. D.O.G.E was supposed to slash government waste, shut down costly agencies, and end reckless spending. But after weeks of cuts, contract cancellations, and chaos, the government’s financial reports show no actual savings. Elon promised that his strategy would cut spending deeper than Margaret Thatcher’s policies in the 1980s, but reality is telling a different story. Nothing has changed—except for the people who lost their jobs. D.O.G.E cuts aren’t lowering government spending The biggest problem for D.O.G.E is simple: it’s cutting in the wrong places. The Treasury’s financial breakdowns show that the parts of the budget Elon can actually touch don’t add up to much. In 2022, the total payroll for civilian government employees was just 4% of federal spending. Adding in active-duty military salaries only raised it to 7%. Even if D.O.G.E fired every single government worker, the government would still be spending over 90% of its budget. Government contracts aren’t the issue either. In 2023, nondefense agency contracts made up 5% of federal spending, and with the Defense Department included, it was 12%. Elon’s team has cut plenty of contracts, but those reductions barely make a dent in overall spending. Source: D.O.G.E website The real money? Entitlement programs and debt interest. Spending on Social Security, Medicare, and Medicaid accounts for most of the budget, and interest on the national debt grows every year. But D.O.G.E doesn’t control any of that. Elon can fire as many employees as he wants and shut down as many agencies as possible—the money will still be spent. The numbers also show that discretionary spending, which once accounted for three-quarters of the federal budget in the 1960s, has now shrunk to just over a quarter. The part that D.O.G.E actually controls—nondefense discretionary spending—was only 14.9% of total spending in 2023. Even if Elon eliminated every single thing D.O.G.E was targeting, the federal budget would still be massive. Elon is running into the same problem David Stockman faced in the Reagan administration. Stockman cut real non-defense discretionary spending by 18% in three years, but it still didn’t stop the government from spending more overall. That’s because defense spending grew, and entitlement programs remained untouched—just like today. D.O.G.E is causing chaos, not efficiency Since its launch, D.O.G.E has moved quickly, but not effectively. Elon’s department has laid off thousands, shut down agencies, and slashed contracts faster than anyone expected. But instead of improving efficiency, the strategy has backfired. The first round of layoffs hit probationary employees first, removing the newest hires and recently promoted staff—the people who were supposed to help modernize government operations. D.O.G.E had to walk this decision back. The Consumer Financial Protection Bureau (CFPB) was dismantled, but then partially restored when banks realized they needed it to roll back regulations. The Internal Revenue Service (IRS) saw major cutbacks, which contrasted with the Reagan administration’s strategy of increasing IRS funding to boost tax enforcement. The result was less money being collected and an even bigger deficit for America. Even D.O.G.E’s financial reports are unreliable. The department claims to be saving billions, but independent financial experts keep finding major discrepancies. Instead of making the numbers clear, D.O.G.E has made it harder to check federal spending data at all. While Elon’s leadership team includes tech industry names like Joe Gebbia, co-founder of Airbnb, and Steve Davis, one of Elon’s longtime business partners, none of them have government experience. Running a business is not the same as running a government. The U.S. budget isn’t a startup that can be optimized through layoffs and automation. The biggest problem might be Elon himself. The man who built Tesla and SpaceX is the same one who spends hours posting on X (formerly Twitter). There’s a difference between Elon Musk, the billionaire entrepreneur, and @elonElon, the account posting non-stop rants about politics and crypto. The federal government has handed real power to the second one. Santi Ruiz, a policy researcher at the Institute for Progress, summed up the situation: “Everyone evaluating D.O.G.E right now is like a blind man feeling different parts of an elephant.” No one can see the whole picture yet. But the parts we can see don’t look good.
A trading expert has identified a technical setup that could see Solana ( SOL ) target the $4,000 mark as the decentralized finance ( DeFi ) asset continues to establish its price above the $100 support zone. According to Ali Martinez, Solana has the potential to surge by a staggering 2,900%, pointing to the formation of a cup and handle pattern as a strong indicator of a bullish trend, he said in an X post on March 14. Solana price analysis chart. Source: Ali Martinez Martinez noted that since November 2021, Solana has experienced a U-shaped decline, followed by a level-off phase, which is now evolving into the pattern’s “handle.” This technical formation is often seen as a precursor to a major upward movement in price. The cup and handle pattern is bullish, where the price forms a rounded bottom (the cup) followed by a consolidation phase (the handle). A breakout above the resistance level signals a potential rally. Martinez suggested that Solana could break the $200 resistance, paving the way for a surge toward $4,000. He emphasized that if Solana can decisively break above the $200 mark, the odds of a continued bullish rally increase significantly. In this case, a $4,000 valuation would likely elevate Solana to the highest-ranked digital asset with a market cap exceeding $2 trillion, provided Bitcoin ( BTC ) stagnates during this period. Meanwhile, another analysis by Ted Pillows in an X post on March 14 also stressed the significance of Solana holding the $110 level, as dropping below this mark could usher in a sustained correction for SOL. Solana price analysis chart. Source: Ted Pillows The expert stated that Solana stands at a key juncture, considering its retest of a multi-year support zone and a long-term uptrend line. Historically, these levels have provided strong buying opportunities. He highlighted the importance of the $110 to $120 zone, noting that failure to hold support could open the door for a deeper correction of 30% to 40%. However, a successful bounce could signal a reversal, with a potential upside if bullish momentum returns. Solana price fundamentals Although technical indicators are crucial to Solana’s next price trajectory, other fundamentals are also coming into play, with the spot exchange-traded fund ( ETF ) ranking as a key factor. Several entities have applied for the product with the Securities and Exchange Commission ( SEC ). On March 11, the SEC postponed its decision on multiple altcoin ETFs, including those for XRP , Solana, Litecoin ( LTC ), and Dogecoin ( DOGE ). The agency extended its review period, pushing decisions on Grayscale’s XRP ETF and Cboe BZX’s Solana ETF to May. SEC ETF verdict. Source : SEC Notably, Bloomberg ETF analyst James Seyffart called the delay “expected,” noting that final deadlines extend until October. Fellow analyst Eric Balchunas added that other ETF proposals, including one for Ethereum ( ETH ) staking, were also delayed. Eth staking and in-kind also delayed. Everything delayed. It's like the NYC-bound Amtrak on monday morning: "Mechanical issues in DC" — Eric Balchunas (@EricBalchunas) March 11, 2025 The SEC has previously extended crypto ETF decisions amid leadership changes following Gary Gensler’s exit from the regulator. Although part of Solana’s momentum last year was driven by meme coin activity on its network, an ETF approval could help broaden SOL’s appeal and attract long-term investors. On the other hand, a proposal to slash Solana’s inflation rate by 80% (SIMD-228) has failed to pass after falling short of the required 66.67% approval. Despite securing 61.39% “Yes” votes, opposition from smaller validators tipped the balance, keeping SOL issuance unchanged. The decision could lead to short-term selling pressure, as lower inflation would have reduced token supply, potentially driving up SOL’s price. However, higher rewards may sustain validator participation and network security, a long-term positive. SOL price analysis As of press time, Solana was trading at $133.10, well below its 50-day ($183.93) and 200-day ($186.79) moving averages ( MA ), signaling a strong downtrend. The asset’s market sentiment remains bearish, with the Fear & Greed Index at 27 (Fear). However, the 14-day relative strength index ( RSI ) stands at 35.38. SOL must reclaim $150 and break above key resistance levels to reverse the bearish trend. Until then, downside risks remain in play. Featured image via Shutterstock The post Expert identifies Solana’s path to $4,000 appeared first on Finbold .