Almost All Ripple USD Tokens Were Burned, Launch Soon? 150 Billion PEPE Withdrawn From Binance, SHIB Burns Skyrocket 5,154%: Crypto News Dig...

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Ripple USD Tokens Burned, Announcement Imminent?

On November 27th, nearly all Ripple USD (RLUSD) tokens were incinerated, sparking speculation of a forthcoming announcement regarding the launch of Ripple's stablecoin. However, securing approval from the New York State Department of Financial Services remains a critical hurdle. Ripple has been exploring the stablecoin market since April, aiming to capitalize on the growing demand for dollar-pegged cryptocurrencies. While its President, Monica Long, anticipated a launch this year, the exact timeline remains uncertain.

Massive PEPE and SHIB Withdrawals from Binance

A recently created wallet withdrew approximately $2.94 million worth of PEPE tokens and $1.52 million worth of SHIB tokens from Binance on November 28th. Large-scale withdrawals often indicate market sentiment shifts or upcoming events. While PEPE has experienced a rally, a decline in trading volume suggests a potential slowdown. SHIB, however, exhibits a bullish triangle pattern, hinting at optimism. Traders should pay attention to whale behavior, as it can precede significant market movements.

SHIB Burns Skyrocket, but Price Fails to Surge

According to blockchain tracker Shibburn, the Shiba Inu community incinerated over 61 million SHIB tokens in the past 24 hours. Seven transfers executed this burn, with the largest sending 48.3 million SHIB to unspendable wallets. This resulted in a 5,154% burn rate surge. However, despite these efforts, the price surge that was attempted did not materialize, causing SHIB to retrace to previous levels. At the time of writing, SHIB trades at $0.000026, up 2.91% over the past day. The community's burning efforts reflect its commitment to improving SHIB's market position.