What Happened in Crypto Today: Latest Update on BTC, XRP, SHIB

What Happened in Crypto Today: Check Latest News on Bitcoin and More

Peanut the Squirrel Meme Coin Surges 20%: What’s the Reason?

Peanut the Squirrel (PNUT), a meme coin inspired by a viral squirrel mascot, surged 20% in price following its addition to Coinbase's listing roadmap. This increase raised PNUT's market cap to $1.34 billion, with a 24-hour trading volume of $1.5 billion. Despite the surge, PNUT is still 45% below its November 2023 all-time high of $2.44. 

The mascot gained fame after a rabies scare in New York. PNUT is now the ninth-largest meme coin, surpassing POPCAT and MOG Coin. Coinbase's announcement also boosted Gigachad (GIGA) and Turbo (TURBO) prices by 37% and 15%, respectively. Analysts predict PNUT could reach $5.

Bitcoin Price Prediction by CoinShares 

CoinShares predicts a rise in Bitcoin yield-focused solutions in 2025, with companies using Bitcoin as a yield-bearing asset. The report identifies three main strategies: measuring Bitcoin growth relative to shares, yield farming through lending, and income generation via derivatives. 

This trend is fueled by businesses like Ferrari and AT&T accepting crypto payments, encouraging giants like Amazon and PayPal to consider Bitcoin reserves. Technological advancements, such as Core DAO’s collaboration with BitGo for dual staking, enhance crypto asset value. U.S. regulatory developments and ecosystems like Solana and XRP are also key growth drivers, making Bitcoin a tool for wealth generation.

Whale Activity Bolsters Market Sentiment for XRP

XRP saw a significant price surge, reclaiming the $2.30 mark after the New York Department of Financial Services (NYDFS) approved Ripple’s RLUSD stablecoin. This approval enhances the XRP Ledger (XRPL) ecosystem by integrating with central bank digital currencies (CBDCs) and decentralized finance (DeFi) protocols. Whale investors have been accumulating XRP, adding 210 million XRP, worth $494.2 million, providing liquidity and supporting its price recovery.

Technical indicators suggest a potential breakout to $3, with key resistance at $2.67. However, XRP faces risks if it falls below critical support levels at $2.03 and $1.41. Ripple’s RLUSD stablecoin approval is a significant step in expanding XRP’s utility and provides optimism for continued growth in the cryptocurrency market.

Bitcoin Price Surges $100k Amid CPI Report: What to Expect?

Bitcoin surged back above the $100,000 milestone on Dec. 11, driven by positive U.S. macroeconomic data. As of now, Bitcoin is priced at around $100,322.17, after an intraday surge of 2.10% with $1.98T in market cap and $79.8B in 24-hour trading volume. 

Traders are optimistic, setting higher price targets, with some predicting a move toward $112,000. The November Consumer Price Index (CPI) report, which aligns with expectations, has solidified predictions of a 0.25% interest rate cut by the U.S. Federal Reserve. This has further fueled bullish sentiment, with Bitcoin poised for potentially larger moves in the days ahead.

Shiba Inu SHIFU Airdrop: What for the Community?

Lucie, the marketing lead at Shiba Inu, shared updates on the upcoming SHIFU token airdrop, which will benefit LEASH and BONE holders, SHIB gamers, and NFT enthusiasts. LEASH holders need to hold 0.01 LEASH for every 1 allocation slot, while BONE holders need to hold 1 BONE. 

SHIB gamers can earn 1 SHIFU point per game point, and NFT holders will benefit based on their Sheboshi NFTs. The SHIFU airdrop aims to create opportunities for the Shiba Inu community and expand the utility of the SHIFU token, with snapshot dates to be announced soon.