Vitalik Buterin's Shiba Inu Surprise Sends SHIB Community into Frenzy

U.Today presents the top three news stories over the past day: Vitalik Buterin unexpectedly mentions Shiba Inu (SHIB), Ripple CTO David Schwartz discusses the challenges of holding XRP, and top analyst Michaël van de Poppe predicts Bitcoin (BTC) will test $80K before the upcoming halving.

Vitalik Buterin's Unanticipated Shiba Inu Post Sets SHIB Community Aflutter

In an unexpected turn of events, Ethereum co-founder Vitalik Buterin took to social media platform X yesterday, March 27, to share his thoughts on Shiba Inu (SHIB) cryptocurrency. Buterin's post, in which he expressed surprise at the token's resilience and outperformance, sent shockwaves through the SHIB community.

Buterin revealed that after donating a significant portion of SHIB to charity, he had expected the token's value to plummet. However, to his astonishment, not only did SHIB avoid a massive sell-off, but it also significantly exceeded his expectations. As a result, the recipients of his donation were able to cash out a substantial sum, far exceeding the $10-25 million that Buterin had initially hoped they would receive.

Buterin's post ignited a flurry of reactions from the SHIB community, including from Shiba Inu lead developer Shytoshi Kusama himself. Kusama replied to Buterin with a GIF of a football player, declaring, "That's how we do it. It's just the start," and using the hashtag #SHIBARMYSTRONG.

Currently, the SHIB/USDT daily price chart is exhibiting a pronounced uptrend. At the time of writing, the meme coin is trading at $0.00003232, according to CoinMarketCap.

Ripple CTO Acknowledges Challenges in Holding XRP Amidst Ongoing Legal Battle

In a recent X post, Ripple CTO David Schwartz candidly admitted that it is "nearly impossible" to avoid selling XRP, even with the intention of holding it. Schwartz's statement follows discussions earlier this week regarding the tax implications of receiving XRP from the company.

As an illustrative example, Schwartz utilized a hypothetical scenario wherein he received a bonus of 1,000,000 XRP from Ripple. In such a situation, he estimated that he would need to sell approximately half of the tokens to cover the associated tax liabilities. Taking into account both federal and California state taxes, his marginal tax rate for earned income amounts to approximately 50%.

Schwartz's comments were elicited in response to an announcement from Dev Null Productions regarding its departure from the XRP ecosystem after six years of significant contributions. The primary reason cited for the decision was a loss of faith in Ripple's leadership, particularly its choice to sell XRP at the expense of retail investors. Additionally, Dev Null Productions criticized the XRPL Foundation for prioritizing personal interests over the well-being of the community.

Renowned Crypto Analyst Predicts Bitcoin Surge to $80K Prior to Halving

Michaël van de Poppe, a prominent crypto analyst and ardent Bitcoin advocate, has shared his prediction for the price trajectory of the leading cryptocurrency in the near future. According to van de Poppe, Bitcoin is currently amidst a consolidation phase, steadily approaching the apex of its present trajectory.

Van de Poppe believes that prior to the halving event in April 2024, Bitcoin may undergo one final test of its all-time high (ATH), potentially reaching $75,000 to $80,000. This would subsequently be followed by a period of correction.

At the time of writing, Bitcoin is trading at $71,149, reflecting a 2.84% increase over the past 24 hours, as per CoinMarketCap data.