đŸ”„Burn Baby

SHIB's burn rate is exploding. Plus, TeraWulf stock is on the move...?

Author

Sebastian Soran
July 09, 2024

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Happy Tuesday, Zingernation! Bitcoin ETF buyers are ‘dumb money’ or so they said. But there must be a lot of it because ETFs bought the dip on Monday and quite heavily


Today, we cover what is going on with Shiba Inu’s exploding burn rate, TeraWulf stock and more.

Plus, our partner reveals the secret to retiring early with crypto.

MARKET SNAPSHOT

TOP STORY

Briefly: SHIB’s burn rate spiked by 440%, with over 6 million tokens burned over the past 24 hours.

So Basically: The increased burn rate was accompanied by SHIB’s lead developer traveling to Japan to forge new partnerships.

So Then: Based on Benzinga's technical analysis tool, Shiba Inu currently has a Relative Strength Index (RSI) of 44.4, sitting right at support.

So What: The 100-day SMA of $0.00002311 is acting as a support level. If SHIB can hold that level, it may be gearing for a reversal soon.

TOGETHER WITH CRYPTOREVOLUTION

How to Retire Comfortably with Crypto in 2024

The key to retiring faster with crypto? The 4-year Bitcoin halving cycle. Right now, we're at the perfect moment to position for the next bull run. And a new blueprint reveals how to spot the altcoins set to soar, how to sell for maximum gains, and how to turn those gains into a comfortable retirement. Normally $97, it's just $3 for a limited time.

FIVE ZINGERS

Dumb? Bitcoin ETF buyers are ‘dumb money’ said Peter Schiff. Turns out that dumb money has deep pockets. Read how much ETFs bought on Monday


Legend: Leo Messi is a legend on the pitch. He may also because a legend on the chain after launching his first memecoin. Read what exactly Messi did


Watch It: Bitcoin is laboring under $60,000 but could be in for a rebound soon. Read which three events traders are watching this week


Thieves: Crypto-related theft has absolutely exploded in the first half of 2024 to over $1.3 billion. Read why that number has doubled since last year


Memories: Remember the crazy SHIB run in 2021? There’s a good chance two new meme coins will repeat the feat, a trader says. Read which meme coins


TOGETHER WITH CRYPTOREVOLUTION

How to Retire Comfortably with Crypto in 2024

The key to retiring faster with crypto? The 4-year Bitcoin halving cycle. Right now, we're at the perfect moment to position for the next bull run. And a new blueprint reveals how to spot the altcoins set to soar, how to sell for maximum gains, and how to turn those gains into a comfortable retirement. Normally $97, it's just $3 for a limited time.

FINTECH FOCUS

Briefly: TerraWulf on Tuesday announced that it paid off a term loan early, eliminating all outstanding debt.

What Happened: The miner completed full repayment of its term loan ahead of schedule after making a final payment of $77.5 million.

What Else: “Our business’s profitability and strong cash generation has allowed us to successfully retire the remaining debt ahead of schedule,” said Patrick Fleury, CFO of TeraWulf.

Why It Matters: TeraWulf owns and operates vertically integrated bitcoin mining facilities powered by 95% zero-carbon energy.

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