Bitcoin Surpasses Meta After Surging to $75,000, Dogecoin Founder Reacts to DOGE and BTC Price Spike, Shiba Inu Burn Rate Skyrockets 3,674%: Crypto News Digest by U.Today
2024-11-07

Here are the top three news stories over the past day presented to you by U.Today.
Bitcoin surpasses Meta after surging to $75,000
Bitcoin's recent spike to a new all-time high of $75,358 has allowed it to emerge as the ninth-largest asset in the world, with its market capitalization reaching approximately $1.482 trillion. This achievement helped the flagship crypto to surpass the market cap of Meta, Facebook's parent company, which is valued at around $1.444 trillion. This is not the first time Bitcoin is outpacing Meta; it achieved a similar feat in March during a rally driven by the success of Bitcoin ETFs. On a year-to-date basis, Meta's shares have risen by 65%; however, Bitcoin has seen an increase of over 75% during the same time frame. At the moment, Bitcoin has silver within its reach, with the precious metal's market cap standing at $1.774 trillion; to surpass it, BTC would need to add roughly $300 billion to its market capitalization.
Dogecoin founder responds as DOGE, BTC skyrocket
In a recent X post, Dogecoin cofounder Billy Markus (also known as Shibetoshi Nakamoto) reacted to the latest price surges of Bitcoin and Dogecoin. Previously, he made a lighthearted prediction, saying that "Bitcoin goes to $69,420, and DOGE goes to $0.16942." Now, with both digital assets reaching new highs, Markus revisited his previous statement, humorously remarking, "Well, Bitcoin and Doge listened to the prophecy, anyway." With Bitcoin achieving a record high of $75,000 and Dogecoin rising by over 22%, Markus expressed his excitement about overall positive market trends. At writing time, however, Dogecoin seems to be losing its earlier gains, as it is changing hands at $0.1869, down 6.17% over the past 24 hours, per CoinMarketCap's data.
Shiba Inu SHIBUSD burn rate skyrockets 3,674% amid price revival
When it comes to the meme coin space, all eyes are on Shiba Inu, as several of its key metrics are showing significant improvement. One of them is the burn rate; according to recent data, this metric has surged by 3,674% in just 24 hours, resulting in over 53 million SHIB tokens being sent to dead wallets. As a result, the total number of incinerated tokens has reached 410,737,117,236,496 SHIB, while the circulating supply is 583,614,657,016,182 SHIB. The recent burn event has triggered a 5.01% increase in SHIB’s price to $0.00001871, alongside a 198% rise in trading volume to $1.12 billion. With the ongoing Bitcoin price rally influencing altcoins, Shiba Inu is gaining momentum, which may lead to significant price advancements. Currently, SHIB is trading at $0.0000185, down 2.29% over the past 24 hours.