'Dogecoin Killer' Shiba Inu Burn Rate Spikes 800%, Crypto Market Rallies As Sentiment Soars And More: This Week In Cryptocurrency

Benzinga Neuro

May 05, 2024

The week was a rollercoaster ride for the cryptocurrency market. The crypto world was buzzing with news, from Shiba Inu’s surging burn rate to speculation of certain altcoins becoming irrelevant. Major cryptocurrencies like Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Dogecoin (CRYPTO: DOGE) ended April with heavy losses, but the market sentiment soared as the new week began. Let’s dive into the details.

‘Dogecoin Killer’ Shiba Inu Burn Rate Spikes 800%

Shiba Inu experienced a resurgence in its burn rates, with an 800% surge and millions of coins burned in recent transactions prompting positive market sentiment and an increase in prices. Read the full article here.

Altcoins’ Fate: Strong Performers or Irrelevant?

Pseudonymous crypto trader “Cold Blooded Shiller” questions whether the market is beginning to phase out certain altcoins in favor of stronger performers and Bitcoin. He notes that while Bitcoin’s strength is undeniable, there’s an interesting separation among altcoins. Meme coins like Dogwifhat, Pepe, and Floki Inu have seen significant gains, but will they maintain their momentum? Read the full article here.

See Also: Bitcoin, Ethereum, Dogecoin Rally, As Market Sentiment Soars On Macro Data: ‘Above $67,000 We Fly Like A

Heavy Losses for Bitcoin, Ethereum, Dogecoin in April

April ended on a sour note for major cryptocurrencies. Bitcoin, Ethereum, and Dogecoin closed the month with losses of 16%, 19%, and 40%, respectively. The new Hong Kong Bitcoin ETFs, contrary to bullish expectations, may turn out to be a “complete failure,” according to finance and crypto newsletter, WhaleWire. Read the full article here.

Are Dogecoin and Shiba Inu Due for a Bounce?

Despite a turbulent month, traders remain optimistic about Dogecoin and Shiba Inu. Chart analyst Ali Martinez predicts a bullish breakout for Shiba Inu (CRYPTO: SHIB), while crypto trader YG Crypto analyzes Dogecoin’s recent performance, which saw a dramatic 40% price drop. Read the full article here.

Crypto Market Rallies as Sentiment Soars

Despite the losses in April, the cryptocurrency market started May on a positive note. Major cryptocurrencies are trading higher, with Bitcoin bouncing well above the $60,000 mark. Read the full article here.

Read Next: Dogecoin Is ‘Primed For Higher’ But Pepe Is ‘On A Moon Mission,’ Exclaims Trader

Image: Eivind Pedersen from Pixabay

Engineered by Benzinga Neuro, Edited by Anan Ashraf

The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.

Recommended

Legendary Investor: Buy These "Trump Stocks" Now - Ad

Get Your Financial Strategy in Place for 2025 - Ad

Better Than Bitcoin? (Top Crypto for Less Than $1) - Ad

Elon Musk said a third person has from his brain-computer interface , one of many groups

IRS is sending out automatic stimulus payments. Who is getting them?

The IRS it's distributing about $2.4 billion to taxpayers who didn't receive their COVID stimulus payments. By the end of January, approximately 1 million taxpayers will receive special payments of up to $1,400 from the IRS.

Porter Stansberry Warns: Nvidia Shares Could Drop By 50%

Porter Stansberry Warns: Nvidia Shares Could Drop By 50% - Ad

It happened in 2000... it happened in 2008... it happened in 2021... and now... the great NVIDIA collapse is coming. In this new exposé, Porter Stansberry reveals why the tech giant is poised to topple...

Can A K-9 Drug Sniffer Land You In Jail For Cannabis? Florida Court Sets New Limits

In possible landmark ruling, a Florida appeals court has determined that a drug-sniffing dog's alert alone does justify a police search.

Stock Of The Day: Will Mondelez Rally? There's A Chance The Selloff Will End

There is also a good chance that the stock reverses and moves higher. This is why Mondelez is our Stock of the Day.

2025's No. 1 Trump Era Trade

2025's No. 1 Trump Era Trade - Ad

Elon Musk is warning about a major shortage we will face in 2025. Trump is targeting one specific resource as the solution to the problem. One American company is virtually the only company set up to solve this situation... generating billions in sales.

Mobileye, Palantir Tech And Affirm Are Among Top Large Cap Losers Last Week (Jan 6-10): Are The Others In Your Portfolio?

Several large-cap stocks saw significant declines last week, possibly due to wildfires in California and overall market weakness.

Kohl's to close 27 stores by April as struggling retailer looks to improve profits, sales

NEW YORK (AP) — Kohl’s said Friday it was closing 27 underperforming stores in 15 states by April — a fraction of its 1,150 store base — as the struggling department store aims to boost profitability and improve sagging sales.

If you walked by this guy on the street, you would not think "millionaire"

If you walked by this guy on the street, you would not think "millionaire" - Ad

You would probably think "accountant" or "average cubicle guy." Actually, he was a lawyer until he unlocked this secret that made him $5 million. How does he do it? We'll warn you... it's about as exciting as a ham sandwich. But it's turning regular readers into 6-figure income machines.

Bitcoin's Supercycle, Crypto's Capitol Breakthrough, And More: This Week In Crypto

The past week was a rollercoaster for the cryptocurrency world. From predictions of a Bitcoin (CRYPTO: BTC) supercycle to a groundbreaking Senate subcommittee on digital assets, the crypto landscape is buzzing with activity.

Walmart says customers should discard recalled chicken broth

NEW YORK (AP) — Walmart says customers should throw out a chicken broth product that was sold at stores in mostly Southern states late last year.

Retirement Planning for 2025 -- Act Now!

Retirement Planning for 2025 -- Act Now! - Ad

Make sure your retirement strategy is in place before 2025 rolls in. Let Datalign Advisory help you take charge of your financial future and get your ducks in a row before the year's end.

Jeff Bezos' $500 Million Superyacht Koru Steals The Show At St. Bart's Annual Festival Where 173 Billionaires Turned Up With Their Yachts

Jeff Bezos' superyacht "Koru" stole the spotlight at the annual St. Barts festival, where 173 billionaires showcased their superyachts.

Mark Zuckerberg Says Biden Officials Berated Meta Staff As They Refused To Remove 'True' Content: 'It Just Got To This Point...That's Ridiculous'

Zuckerberg has admitted that officials from the Biden administration have been exerting pressure on Meta staff to remove specific content.

The IPO Turning Heads

The IPO Turning Heads - Ad

A groundbreaking IPO has hit the NYSE-A, targeting a $60B market. This company's mission to produce up to 2.4 million tons of potash annually could supply 20% of Brazil's current potash needs. It's a rare chance to explore this IPO opportunity while it's still fresh.

AP PHOTOS: Warm clothing, hot pot and even ice cream bars feature at China's Harbin ice fair

HARBIN, China (AP) — Faced with temperatures dipping to -30 Celsius (-22 Fahrenheit), visitors to often make a beeline for stalls selling padded clothing to augment their wardrobes.

Canada's Trudeau urges US consumers to consider the harm of Trump's tariff threats

VANCOUVER, British Columbia (AP) — Canada's outgoing Prime Minister Justin Trudeau on Sunday suggested that President-elect Donald Trump's remarks about Canada becoming America's “51st state” has distracted attention from the harm that steep tariffs would inflict on U.S. consumers.

Shutting Down at 11:59 PM EST

Shutting Down at 11:59 PM EST - Ad

We're in the midst of an explosive bull market, with gold prices now higher than at any other point in history. Just days from now -- on Jan. 28 -- we expect a major financial event to push gold toward $3,000 ... and then much higher from there. It's why timing is so critical.

Michael Burry's Hedge Fund Could Soar if China Cuts Interest Rates in 2025

Michael Burry's $196 million hedge fund, Scion Asset Management, could see hefty gains if the People's Bank of China cuts interest rates in 2025, which it has suggested it is likely to do.

The Trump company is not banning private foreign deals, a break with its first term policy

NEW YORK (AP) — The Trump family business released a voluntary ethics agreement Friday that marks a significant departure from Donald Trump's first term by allowing it to strike deals with private foreign companies.

The $124B Smart Glass Disruptor

The $124B Smart Glass Disruptor - Ad

This Nasdaq-listed company is redefining the $124 billion smart glass market. From aircraft cabin shading systems to dimmable rooftops in vehicles to energy-efficient building glass, their technology supports global leaders like Boeing, Ferrari, and National Geographic. Their $38.3 million order backlog and several new multi-million dollar deals across four major sectors positions them as a market disruptor you can't ignore.

Moldovans grapple with outages as energy crisis grips pro-Russia region

COPANCA, Moldova (AP) — Every time planned electrical outages are imposed on his village in southern Moldova, 73-year-old retiree Vasili Donici passes the time solving crosswords and puzzles in a room he illuminates using a small gas lamp.

Macy's Shuts Down 66 Locations As Part Of New Chapter Strategy

Macy's revealed plans to close 66 stores as part of its "Bold New Chapter" strategy. The company aims to eliminate underperforming locations and focus on its successful stores.

98 Opportunities for 1,000% Gains (And More)

98 Opportunities for 1,000% Gains (And More) - Ad

During the most recent gold bull market, our team tracked down 98 separate opportunities for investors to make 10x their money or more. In fact, there are seven specific gold plays that we believe should be on every investor's radar right now.

Marjorie Taylor Greene Went Christmas Shopping For Stocks, Here's What She Bought Before Holiday

Marjorie Taylor Greene spent part of Christmas Eve buying stocks according to recent disclosures. Here's what she bought.

The â€˜Worst in Showâ€™ CES products put your data at risk and cause waste, privacy advocates say

LAS VEGAS (AP) — So much of the technology showcased at CES includes gadgets made to improve consumers' lives — whether by leveraging AI to make devices that help people become more efficient, by creating companions to cure loneliness or by providing tools that help people with mental and physical health.

Set Your Alarm For 1:59 P.M. on January 31st Because THESE Stocks Set To Rocket Up

Set Your Alarm For 1:59 P.M. on January 31st Because THESE Stocks Set To Rocket Up - Ad

1:59 P.M. on January 31st. Set an alarm for that. Because you need to be prepared for an event that will send a certain group of stocks rocketing upward.

2 bodies are found in the landing gear of JetBlue plane at Florida airport

FORT LAUDERDALE, Fla. (AP) — Two bodies were found in the landing gear compartment of a JetBlue aircraft at a South Florida airport, authorities said.

Puerto Rico natural resources chief shelves investigation targeting governor's in-laws

SAN JUAN, Puerto Rico (AP) — Puerto Rico’s new natural resources secretary has shelved an investigation into allegations of illegal construction in a protected area on the island’s southwest coast, sparking an outcry.

January 20th - The Biggest Crypto Event in History

January 20th - The Biggest Crypto Event in History - Ad

According to the man who called every major market top and bottom for the last 29 years... A single event triggering on January 20th will send the crypto market soaring. But what's more exciting... is that this event could send a small sector of the crypto market soaring 5X, 25X, and even 100X higher in just days.

Stock Of The Day: Is Walgreens Breaking Out?

Shares of Walgreens (WBA) are trading higher on an earnings beat. They may be breaking the resistance around the $11 level.

Austrian far right and conservatives reach budget accord in a step toward new government

VIENNA (AP) — Austrian far-right leader Herbert Kickl and his prospective coalition partners said Monday that they have reached an agreement to bring down the budget deficit, an important first step toward what would be the country's first post-World War II government led by the far right.

My TOP Altcoin for Right Now Is...

My TOP Altcoin for Right Now Is... - Ad

Searching for the top investment opportunity in crypto? Look no further. Our $3 report gives you the full scoop. You'll get this exciting token's name, our recommended investment strategy, and growth projections. Time is of the essence with this one...

Stock market today: Asian shares are mostly lower after Wall St holds firm

BANGKOK (AP) — Asian stocks were mostly lower on Thursday after U.S. stock indexes finished mixed a day after strong reports on the economy stirred up worries that inflation and interest rates may remain higher than expected.

Bitcoin, Ethereum, Dogecoin Slip Ahead Of Key Jobs Data Release: Top Analyst Remains Positive On 2025 â€” 'It's Bull Market Year'

Leading cryptocurrencies mounted losses on Thursday as investors remained cautious ahead of the release of a crucial jobs report

Is a Starlink IPO Coming?

Is a Starlink IPO Coming? - Ad

Could there be signs that a Starlink IPO is coming soon? According to one top venture capitalist, the answer is YES! And for the first time ever, you have the rare chance to profit pre-IPO... BEFORE Starlink goes public.

Busy holiday travel season fuels big fourth quarter for Delta

Delta Air Lines topped profit and revenue expectations in the fourth quarter on strong demand during the crucial holiday period.

Apple's Market Woes, Tim Cook's 2024 Salary, And Siri Privacy Concerns: This Week In Appleverse

Apple faced market share decline in China while CEO Tim Cook got a pay raise. Siri privacy policies were clarified and AI flaws were acknowledged. Rival Samsung introduced an AI subscription model for its Galaxy smartphones.

Revealed: Buffett's $4.9 Billion Secret

Revealed: Buffett's $4.9 Billion Secret - Ad

Over the last decade, the "Oracle of Omaha" has quietly made an extra $4.9 billion using a low-risk strategy. Jim Fink has used the same strategy to deliver an 84.7% winning rate for his subscribers.

What's Going On With Robinhood Markets Stock?

Robinhood stock fell by 3% Wednesday before closing flat as the latest employment data signaled a cooling U.S. labor market.

Trending Now

1 Thing You Must Do in 2025 - Ad

Walgreens Boots Alliance, Aurora Innovation And Delta Air Lines Are Among Top Large Cap Gainers Last Week (Jan 6-10): Are The Others In Your Portfolio?