Laughing Shiba Inu (LSHIB) is set to have an explosive rally in the next 48 hours, and the new Solana memecoin is set to attract massive investment from early Dogecoin (DOGE), Shiba Inu (SHIB) and DogWifHat (WIF) investors.
Laughing Shiba Inu (LSHIB) is posed to skyrocket 11,000% in the next two days, following an announcement on Saturday that the Solana memecoin will be listed on ByBit in April.
ByBit is one of the largest centralized cryptocurrency exchanges in the world, and LSHIB listing on the platform is a major bullish catalyst for its price.
This is because the listing will lead to millions of dollars of capital flowing into LSHIB, as it will become more accessible.
These inflows will lead to LSHIB’s market cap and price skyrocketing once the listing goes live, so many early Dogecoin (DOGE), Shiba Inu (SHIB) and DogWifHat (WIF) investors are buying Laughing Shiba Inu before the ByBit listing goes live.
Laughing Shiba Inu (contract address: 28UNYzpJxAd3PXbPZcfwpBgEhbfQMZV7wZHFoAi8MYx5) can currently only be purchased on Solana decentralized exchanges, such as Raydium and Jupiter.
Users can purchase LSHIB via these platforms by connecting a Solflare, MetaMask or Phantom wallet, and swapping Solana for the token by entering its contract address.
Laughing Shiba Inu, which was launched earlier this week, currently has a market cap of just $14,000, meaning that investors who buy at the current price could make hundreds of thousands or millions of dollars when its market cap breaches the $2mn-$5mn range.
It’s therefore not surprising that many early Dogecoin (DOGE), Shiba Inu (SHIB) and DogWifHat (WIF) investors are pouring funds into LSHIB.
On April 15, the Securities and Futures Commission (SFC) of Hong Kong granted conditional approvals to three Chinese offshore asset managers—Harvest Fund Management, Bosera Asset Management, and China Asset Management—for issuing spot Bitcoin and Ether ETFs.
Despite this development, Eric Balchunas, a senior ETF analyst at Bloomberg, expressed skepticism about the significant impact of these ETFs.
Balchunas challenged optimistic inflow estimates of $25 billion for these ETFs on social media, calling such expectations “insane” and predicting a more modest outcome. “Don’t expect a lot of flows — I saw one estimate of $25b that’s insane.
We think they’ll be lucky to get $500m,” he remarked. He highlighted the relatively small size of the Hong Kong ETF market compared to that of the United States and pointed out that the approved ETFs do not permit Chinese retail investors to officially access these products, further limiting their potential.
The analyst also compared the new ETF issuers to larger asset management firms like BlackRock, which manages over $9 trillion.
He noted, “U.S. spot bitcoin ETFs have more assets than the entire HK ETF market,” underscoring the disparity in market size and influence.
Additionally, Balchunas commented on the inefficiencies and high costs likely to affect the new ETFs, with expected fees ranging between 1-2%.
He cited these as factors that would contribute to wider spreads and potential discounts on the ETFs, unlike the lower-cost models seen in the U.S. market.
“The underlying ecosystem there is less [liquidity] efficient = these ETFs will likely see wide spreads and prem discounts,” he explained.
Despite Balchunas’ reservations, Jamie Coutts, chief crypto analyst at Real Vision and former Bloomberg Intelligence analyst, provided a contrasting perspective.
Coutts suggested that the introduction of these ETFs could tap into a “massive pool of capital” for Chinese investors, known for their adeptness at navigating government-imposed capital controls.
The structure of these ETFs also stands out, as they are set to utilize an in-kind creation model.
This allows new ETF shares to be directly issued using Bitcoin and Ether, contrasting with the cash-create redemption model prevalent in U.S. spot Bitcoin ETFs, which has raised concerns over potential money laundering and fraud.
The launch of these spot Bitcoin and Ether ETFs is expected in about two weeks, marking a significant, albeit cautiously viewed, expansion in the financial product offerings available in Hong Kong’s crypto market.
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Samsung is set to expand its semiconductor manufacturing capabilities in Texas with a $6.4 billion grant from the U.S. government.
This funding, provided under the 2022 Chips and Science Act, underscores a significant effort to strengthen domestic chip production, particularly for the automotive, aerospace, and defense sectors.
These sectors are considered crucial for national security, as per unnamed administration sources in a Reuters report from April 15.
Commerce Secretary Gina Raimondo highlighted the grant’s role in enhancing U.S. competitiveness in various facets of semiconductor production.
“These grants will allow the U.S. to once again lead the world, not just in semiconductor design, which is where we do now lead, but also in manufacturing, advanced packaging, and research and development,” Raimondo stated.
In addition to federal funding, Samsung plans to inject an additional $45 billion into its Texas operations by the end of 2030.
This ambitious expansion will include two new production facilities—one for research and another for packaging—alongside its existing semiconductor plant in Austin.
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This development coincides with OpenAI, the creator of ChatGPT, announcing its intent to manufacture its own AI-specific chips, potentially with financial backing from the UAE’s state-backed group, MGX.
The semiconductor industry is currently grappling with a significant chip shortage, which is poised to impact various sectors, notably cryptocurrency mining.
The shortage comes at a critical time, with the Bitcoin mining industry facing the impending Bitcoin halving event.
Riot Platforms, a Bitcoin mining company, reported in its 2023 annual report that the limited supply of chips poses one of the twelve major risks to its profitability.
“The ongoing global supply chain crisis, coupled with increased demand for computer chips, has created a shortfall of semiconductors,” the report noted.
Moreover, U.S.-based Bitcoin miner CleanSpark has expressed concerns about potential disruptions in cryptocurrency hardware and the difficulties in acquiring new equipment, as stated in its 10-K filing.
This underscores the broader impacts of the chip shortage on industries reliant on high-tech components.
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Shiba Inu’s blockchain project, Shibarium, has captured attention with a dramatic resurgence.
According to the latest data, active accounts on Shibarium have escalated to over 25,000, marking an 80% increase from the previous day and an astounding 3,500% surge since early April.
Additionally, the network is experiencing a spike in daily transactions, which have now exceeded 400,000.
Shibarium, which officially launched in August of the previous year, was developed to enhance the Shiba Inu ecosystem.
It focuses on improving scalability, cutting down transaction costs, and speeding up processing times, thereby supporting the growth and effectiveness of the Shiba Inu network.
The platform has achieved several significant milestones recently.
A report by CryptoPotato earlier in the month highlighted that Shibarium had surpassed 4 million total blocks.
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The network is also approaching 1.8 million wallet addresses, with the total number of transactions around 415 million.
For those interested in deeper insights, a dedicated video is available which provides further details about Shibarium’s capabilities and features.
The advancement of Shibarium has led some analysts to speculate about potential market movements.
There is a growing belief that continued progress could catalyze a bullish trend for SHIB, the second-largest meme cryptocurrency.
SHIB itself has shown signs of recovery, regaining some of its lost value over the weekend and showing positive momentum on a daily basis.
The meme coin sector is witnessing significant activity. On April 15, ‘Cat in a Dogs World’ (MEW), based on Solana, saw nearly a 100% increase, positioning it as one of the top performers in the market.
Other meme coins like Dogwifhat (WIF), Dogecoin (DOGE), Pepe (PEPE), and Floki Inu (FLOKI) are also experiencing upward trends, though their gains have been more modest compared to MEW.
This resurgence in meme coins, led by Shibarium’s impressive performance, suggests a robust engagement from investors and hints at a potentially exciting period for the meme coin market segment.
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Dogecoin (DOGE) and Shiba Inu (SHIB) have struggled to build momentum in recent weeks, leading to some investors to sell their positions and invest in new coins, like Laughing Shiba Inu (LSHIB).
Laughing Shiba Inu (LSHIB), a new memecoin that was launched earlier today, is set to rally over 2,500% within the next 24 hours, while larger memecoins, such as Dogecoin (DOGE) and Shiba Inu (SHIB), are struggling.
LSHIB, which is currently only available to buy on decentralized Solana exchanges, like Raydium and Jupiter, has a market cap of just $6,300.
It’s set to reach a market cap of $150,000 within the next 24 hours, meaning that early investors will generate a 2,500% return on investment within a day.
Furthermore, after reaching a $150,000 market cap, Laughing Shiba Inu (contract address: 28UNYzpJxAd3PXbPZcfwpBgEhbfQMZV7wZHFoAi8MYx5) will be poised to then rally another 1,300% before the end of April to reach a $2 million market cap.
And, once listings on centralized exchanges are announced, LSHIB’s market cap will skyrocket much higher than $2 million.
The potential for huge returns is the reason why many Dogecoin (DOGE) and Shiba Inu (SHIB) investors are already buying up positions in LSHIB.
Meanwhile, Dogecoin and Shiba Inu have been struggling to build momentum in recent weeks, but both of these dog-themed memecoins have the potential to rally another 50%-150% over the coming months.
On April 15, Bitcoin began trading at around $65,500 as the Wall Street market opened, following a significant drop over the weekend.
This stability marked a calm start to the traditional finance (TradFi) trading week in the United States, according to data from Cointelegraph Markets Pro and TradingView.
This period of calm contrasted sharply with the weekend’s events, where the BTC/USD pair fell to near $61,000, a decline triggered by geopolitical instability in the Middle East.
Fortunately, Bitcoin managed to avoid the more substantial losses experienced by some altcoins.
The focus among traders has now shifted towards the upcoming Bitcoin block subsidy halving, an event anticipated to create turbulent market conditions.
This event is known for significantly impacting trading patterns.
Keith Alan, co-founder of trading resource Material Indicators, commented on the situation, saying, “With the halving coming up in less than a week, I won’t be surprised to see a pump to the halving followed by a dump after the halving to shakeout weak hands before the next leg up.
“Of course escalating geopolitical tensions might alter the trajectory, so certainly tuned into that.” He also noted that resistance might persist above $70,000 until there is more buying activity at prices closer to the current spot.
Additionally, CoinGlass data indicated an increase in bid liquidity for Bitcoin at and below $66,000.
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In the same vein, popular trader Skew noted significant activity in the market, stating, “Lots of systematic retests this morning, important day I think for crypto market to establish the next phase for direction.”
He emphasized the importance of maintaining exponential moving averages (EMAs) across 4-hour and daily timeframes and highlighted the need for Bitcoin’s relative strength index (RSI) to climb back above the central 50 level.
The cryptocurrency market also reacted to news from Hong Kong, which approved exchange-traded funds (ETFs) for both Bitcoin and Ether.
This development refocused attention on the potential for similar ETFs in the U.S.
Despite the weekend’s market downturn, Skew expressed concern over investor reactions, noting, “Red premarket, going to be keeping an eye on these today and potential price impact of spot flows.”
Reports from Cointelegraph indicated a slowdown in overall ETF inflows compared to previous weeks.
Meanwhile, the Grayscale Bitcoin Trust (GBTC) saw a modest outflow of about 1,600 BTC ($105 million). Popular trader Daan Crypto Trades suggested on X that the importance of GBTC flows as a market indicator might be diminishing.
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The U.S. Securities and Exchange Commission (SEC) is facing criticism for its recent enforcement actions against the decentralized crypto exchange Uniswap, which seem to deviate from its own historical guidelines.
Adam Cochran of Cinneamhain Ventures has pointed out these inconsistencies, drawing from multiple precedents in SEC’s own archives.
Historically, the SEC has issued “No-Action Letters” indicating a more flexible interpretation of what constitutes an exchange.
Notable instances include 1986, 1991, and 1997 when entities seeking to establish electronic systems for routing and matching trades were not classified as exchanges.
“But the SEC concluded that because the execution was on a separate system that matching, routing, communicating and ordering as a ‘computer service system’ did not meet the holistic definition of ‘an exchange,'” Cochran explained, referencing the SEC’s past decisions.
Further, Cochran highlighted instances in 1989 and 1990 when the SEC differentiated front-end interfaces from exchanges.
“The SEC guidance found that because these interfaces, even though they profited from bringing together buyers and sellers to exchange explicit securities the fact that the settlement and payment happened elsewhere meant these interfaces were not exchanges,” Cochran elaborated.
In 1998, the SEC appeared to settle this issue definitively in its No-Action Letter LEXIS 18 by deciding it would no longer entertain requests for such clarifications.
Cochran’s review also included guidance from 1979, 1996, and 1999 which asserted that merely connecting buyers and sellers does not an exchange make, emphasizing that “The exchange needed to involve the legal transfer of the assets and/or finances.
So even though a buyer on Uniswap may commit to a purchase, by signing a transaction with their private key the Uniswap Labs frontend, isn’t what’s settling it.”
Additionally, Cochran mentioned a 1998 SEC finding that an electronic system serving as a primary listing location for unlisted common stocks does not qualify as an exchange if it does not clear and settle transactions.
“In this case, the commission found that once again, so long as their informational interface was no clearing and settling these transactions, then just because it was the primary listing location of an asset, it was not somehow more of an exchange.”
Despite this backdrop, Uniswap Labs has been under the SEC’s lens since 2021, culminating in a Wells notice on April 10, indicating potential enforcement.
Uniswap Labs has defended its position by asserting that it merely developed the front-end portal of the app, distinct from the Uniswap protocol—a self-executing code made public.
Cochran supports this view, clarifying, “In fact, we know these elements are distinct, because you can execute trades on the smart contract through other interfaces (like Etherscan or swap aggregators), or even directly through a node.”
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The cryptocurrency market has observed a significant movement of Shiba Inu (SHIB) tokens recently, with 765 billion tokens transferred among major holders within the last day.
Notably, a large portion of these tokens has been directed towards trading platforms like Coinbase.
This trend suggests that the holders might be preparing to sell their holdings. Such a scenario could potentially lead to an increased selling pressure on SHIB, negatively impacting its market price during a delicate period for the token.
An analysis of transaction histories reveals transfers ranging from 45 billion to 123 billion SHIB tokens to prominent trading apps and platforms.
These large movements highlight the significant interest and activity surrounding SHIB at this time.
From a technical analysis standpoint, the SHIB/USDT trading pair displays a forming triangle pattern on the TradingView chart.
This pattern indicates a narrowing price range, characterized by higher lows and lower highs, suggesting an impending breakout.
This situation can be likened to a “coiled spring,” poised to release in either an upward or downward direction, depending on market forces.
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Moreover, Shiba Inu’s Shibarium has seen a dramatic 1,182% increase in a key metric, signaling a potential spike in activity or interest in the token.
The chart identifies critical price levels to watch: a resistance point at approximately $0.000029 and a support level near $0.000019.
Currently, SHIB trades above these key moving averages, which could be a favorable sign for investors.
If the market trend leans towards selling, SHIB might approach the lower support level.
Conversely, a breakout above the triangle could propel the token to new highs, testing its resistance levels.
The increased activity by whales and large traders has made the SHIB market notably volatile, which could either precede a prolonged recovery or indicate a bullish reversal for the cryptocurrency.
In summary, the market dynamics of Shiba Inu are at a critical juncture, with significant token movements and technical patterns suggesting possible future price movements.
Investors and market watchers are advised to keep a close eye on these developments, as they could dictate the short-term trajectory of SHIB’s value.
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Dubai’s cryptocurrency sector is witnessing significant transformations, with new efforts aimed at supporting smaller players who are currently weighed down by heavy regulatory costs.
Matthew White, the CEO of Dubai’s Virtual Asset Regulatory Authority (VARA), spoke about these challenges and the authority’s plans to address them during the Paris Blockchain Week.
White revealed that VARA is actively seeking ways to improve the regulatory framework for cryptocurrencies, acknowledging the existing system’s imperfections and the disproportionate impact on smaller entities.
He expressed a commitment to making adjustments that would benefit all market participants.
“It’s not perfect. There’s a number of things I’m looking at, at the moment, to try and make the regime fit for everybody. One of those is figuring out a way to deal with the costs of compliance for smaller entities,” White stated during a panel discussion.
The process of becoming regulated is notably expensive, which poses a significant barrier for many smaller companies in the crypto space.
This has prompted VARA to explore innovative solutions to alleviate these financial burdens. White proposed a model where larger, more established players could support smaller entities.
“The cost of compliance is borne by the larger systemic players, and this allows the smaller players to come into the ecosystem, be regulated, but also not have to suffer the same sort of level of costs of compliance that we’ve got,” he explained.
This initiative is part of VARA’s broader strategy to foster innovation while ensuring robust regulatory oversight.
White highlighted the dynamic nature of the cryptocurrency market and the regulatory challenges it presents, emphasizing the authority’s ongoing efforts to keep pace with the industry’s rapid development.
“It moves so quickly.
“We don’t pretend to know everything as a regulator,” he remarked, underlining the complexity and fast-evolving landscape of digital assets.
These discussions and plans come after significant leadership changes within VARA.
White took over the role of CEO from Henson Orser as part of a broader strategy to enhance the regulatory body’s operations in anticipation of scaling up to full market activities.
His appointment on November 16 was timed closely with tightened regulations in the UAE, including new fines and sanctions aimed at unlicensed virtual asset service providers (VASPs), introduced in joint guidance issued on November 8.
This alignment indicates a clear push towards stricter compliance and oversight in the UAE’s virtual asset sector.
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Tim Draper, a prominent venture capitalist, predicts a significant increase in Bitcoin’s value in 2024, driven by several key factors including spot exchange-traded funds (ETFs) and the upcoming Bitcoin halving event.
During the Paris Blockchain Week, Draper spoke to Cointelegraph about his optimistic forecast for the cryptocurrency, suggesting a potential rise to $250,000 by year-end.
“If I had to predict, maybe we could see $250,000 by the end of the year; I mean, it’s looking pretty good,” he remarked, reflecting on his earlier 2022 price prediction.
The introduction of spot Bitcoin ETFs in the United States has significantly rejuvenated interest and capital inflows into Bitcoin.
These ETFs have made it easier for investors interested in Bitcoin but reluctant to hold it in self-custody, providing a safer and more familiar investment route through traditional financial institutions like Fidelity or JPMorgan.
Draper emphasized the protective role of Bitcoin against fiat currency devaluation: “I think that it gives people an opportunity to buy some Bitcoin and hold on to it so that they can take care of themselves when there’s a run on the dollar or the euro.”
He also noted Bitcoin’s increasing attractiveness as it becomes more commonly used for purchases and its finite supply, which contrasts sharply with the inflationary nature of fiat currencies.
“I don’t really need to hold on to any fiat currency that decreases in value over time because of political whims or government spending, or politicians that just decide they’re going to spend more money and inflate your money,” he stated, asserting Bitcoin’s security against inflation and economic instability.
Furthermore, Draper highlighted the anticipated impact of the fourth Bitcoin halving scheduled for April 20, which will reduce the supply while demand is expected to rise, naturally driving up the cryptocurrency’s price.
“If you’re an investor in the stock market, they say don’t bet against the Fed [U.S. Federal Reserve]. If you’re a Bitcoin buyer, don’t bet against the halving. It changes everything.
The supply shrinks, the demand increases and the price goes up. That’s natural economics — supply and demand,” he explained.
Draper’s views also include a broader financial strategy, suggesting that a small, single-digit percentage investment in Bitcoin could serve as a hedge against potential bank failures and the decline of sovereign currencies, enhancing financial stability for investors amidst global economic uncertainty.
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