Shiba Inu forms first 2025 golden cross

Shiba Inu saw an 85% rise following the last golden cross occurrence. 

• Technical signal. SHIB 50-day MA crossed above the 200-day MA, creating its first daily golden cross this year.

Shiba Inu has formed a golden cross on its daily chart, the first such occurence in the year 2025, as SHIB saw a death cross on its one-day chart in February this year. The short-term moving average 50 has crossed above the long term moving average 200, resulting in a bullish golden cross.

• Significance. Bullish signal suggests potential upside, though market context remains cautious.

While Shiba Inu has formed moving average crossovers on the hourly or 4-hour time frames, the newly created golden cross is the first such on the daily chart this year. With this newly created bullish signal on the Shiba Inu charts, the market awaits where the dog coin will go next.

The broader cryptomarket is seeing continued profit taking, with major cryptocurrencies reversing early gains. Shiba Inu fell for three straight days from Aug. 22, when it saw a sharp rise from $0.000012 to $0.0000135. The drop hit a low of $0.00001183 from where Shiba Inu sharply rebounded in yesterday’s session.

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XRP whales dumping tokens amid $3 struggle

Recent data shows that distribution is currently taking place as XRP is struggling to reclaim the $3.

• Whale activity. CryptoQuant analyst Maartunn reports heavy XRP whale distribution, with flows flipping negative on-chain.

The chart shared by the analyst shows that whale flows on the XRP Ledger recently flipped into negative territory. According to Maartunn, a pseudonymous cryptocurrency analyst at CryptoQuant, XRP whales are currently in the process of heavily offloading their tokens. 

• Historical context. Similar sell-offs earlier in 2025 coincided with a local peak and sharp correction.

 A similar pattern, for instance, could be seen in early 2025, when the price of the token reached a local peak. This coincided with sustained whale distribution. Of course, the XRP token suffered a major correction back then. 

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Ripple CEO flaunts new Gemini XRP card

Brad Garlinghouse has posted a photo of himself rocking the new XRP card.

• Ripple CEO joins in. Garlinghouse showcased his card on social media.

Brad Garlinghouse, the CEO of Ripple, recently took to the X social media to show off his new XRP card. Gemini released its XRP credit card on Monday. The card, which offers up to 4% cash back on various products and services, was released due to the price massive gains recorded by the XRP token, Gemini says. 

• Community reaction. Despite the hype, reception among XRP holders was lukewarm.

However, the product received rather tepid reactions within the XRP community, with many claiming that it failed to live up to the hype that the exchange was trying to generate prior to the announcement. Gemini has had XRP awards with its ordinary rewards for months, meaning that the new product does not bring anything particularly novel to the table.  Some XRP holders have also criticized the fact that the new card is available only in the U.S. 

Gemini CEO Tyler Winklevoss has said that the exchange is going to give Ripple Garlinghouse “the whale limit” on his XRP card. “I’m told he’s good for it,” he quipped.  David Schwartz, chief technology officer at Ripple, has also posted his XRP rewards card that he was holding while wearing an XRP shirt and belt as well as drinking at XRPresso. 

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Bitcoin sees 1,530% liquidation imbalance as longs crushed

Bitcoin price triggers abnormal 1,530% liquidations imbalance in just four hours. 

Bitcoin’s latest derivatives data by CoinGlass shows an unusual tilt in liquidations, with the past four hours producing a total of $5.62 million in positions that received margin calls. The split is the main thing here, as about $5.28 million in longs were squeezed out compared to just $345,000 in shorts, which works out to an imbalance of as much as 1,530%.

This shakeout was caused by Bitcoin moving between $111,000 and $111,300, with the price failing to hold early gains and sliding back toward the lower band of that range. A lot of accounts that were ready for a rebound were hit when they were not expecting it.

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Peter Brandt names key level for Bitcoin

Top trader Peter Brandt claims that Bitcoin (BTC) is facing a potential double top.

• BTC alert. Peter Brandt warns BTC bulls must reclaim $117,570 to avoid a “potential” double top.

Legendary trader Peter Brandt claims that Bitcoin bulls desperately need to reclaim the $117,570 level in order to avoid a “potential” double top. The leading cryptocurrency is currently changing hands at $111,794 after dipping to an intraday low of $100,381.

During the weekend, a Bitcoin whale liquidated a total of 24,000 coins that were worth more than $2.7 billion. It is believed that the massive crash was the key reason why the price of the leading cryptocurrency has now collapsed by $4,000 in mere minutes. 

• Reactions. Adam Back called the sell-off “clumsy.”

Blockstream CEO Adam Back described this kind of activity as clumsy. “Normally, people with that kind of money would be smarter,” Back said.  Even though some market participants have downplayed the importance of the massive whale move, Brandt insists that it should not be dismissed since it represents supply.  As noted by Brandt, market tops tend to be created by supply or distribution. 

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Simon Chandler

Author

Simon Chandler

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Simon Chandler is a Brighton-based writer and journalist with over ten years of experience writing about crypto, technology, politics and culture. He has written for Cryptonews.com since late 2017,…

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Last updated: 

July 11, 2025

The Pepe price has surged by 15% in the past 24 hours, rising to $0.00001282 as the cryptocurrency market as a whole posts a 2.5% gain today.

Prices of most major alts have followed Bitcoin, which hit a new all-time high today of $118,667, and which could set a few new records before the day ends.

PEPE has benefitted from this rally along with most major alts, with the meme coin also sitting on a 30% return in a week and a 37.5% increase in a fortnight.

And with its trading volume rising by over 10x virtually overnight, more gains could be coming very soon.

Pepe Price Prediction: Trading Volume Rockets Overnight – Could PEPE Be the Next $1 Meme Coin?

If we look at PEPE’s chart right now, we see that it has broken out of the pennant formed from its medium-term highs and lows.

Even more bullishly, the moving average convergence divergence (orange, blue) has just turned positive, and it could continue rising for a while yet, given previous peaks.

We also see that PEPE’s 24-hour trading volume has risen from $600 million only yesterday to $7.6 billion today, marking a massive 1,100% increase.

This signals a big influx in demand, and we can also see whales beginning to buy up PEPE in large quantities again, as revealed by on-chain data.

Given that PEPE is still not in an overbought position, now may be a very good moment in which to buy the meme token.

Based on technicals alone, it could rise for several more days, if not weeks, before undergoing a correction.

Any correction may be somewhat shallow, seeing as how PEPE – like much of the market – had been heavily sold in late January through to early May.

Many analysts are now talking up PEPE’s chances of returning to levels it hasn’t seen since early January, with some suggesting that it could even top its ATH of $0.00002803.

This will be possible if the market can continue its climb, and so long as we don’t hear too much bad news regarding tariffs.

Having said that, the recent imposition of tariffs against Canada, for example, has actually caused a flight to safe havens such as gold and Bitcoin, so they may end up being good for crypto.

nd if the bull market holds, PEPE adoption accelerates, and a major token burn takes place – a $1 target, while ambitious, may not be entirely out of reach.

Trading Bot Snorter Raises $1.7 Million in Presale for Native Token: Is This Crypto’s Next Killer App?

If PEPE is not that exciting anymore, traders can consider one of many up-and-coming alternatives, with numerous presale tokens looking very exciting right now.

For instance, Snorter (SNORT) is an Ethereum and Solana-based project that is in the process of developing an automated sniping bot.

It launched the presale for its SNORT token a few weeks ago, and has now raised just over $1.7 million amid growing investor interest.

As an automated sniping bot, Snorter will use AI to discover emerging tokens before they go parabolic, helping users to stay ahead of the market.

It will provide several other features, including atomic swaps, limit orders, rugpull protection and copy trading, so that users can mirror the strategies of whales.

These comprehensive features help to explain why its presale is taking off, and also why the project has grown a substantial community in a short space of time.

Users will need to hold SNORT if they want to access the bot’s capabilities, which should mean that the coin attracts plenty of demand.

Investors can buy it now by going to the Snorter website and connecting a compatible wallet, such as Best Wallet.

The token currently costs $0.0979, but this will continue to rise periodically until the sale ends, so buyers should act quickly.

Ethena Labs reached $290.2 million in total protocol revenue on July 9, trailing only Tether, Circle, and Sky among stablecoin issuers. 

Token Terminal data show that the stablecoin issuer reached $100 million in cumulative revenue 251 days after its launch, making it the second-fastest protocol to cross this threshold.

Daily fees averaged $3.1 million during the past month as traders continued to mint and hedge the synthetic-dollar token USDe. Ethena’s path to nine-figure revenue took 251 days, faster than Uniswap’s 980-day sprint in 2020 but slower than memecoin launchpad Pump.fun, which hit the mark in 217 days late last year. 

Core income is generated by carrying long spot and short perpetual futures positions across multiple exchanges, a delta-neutral strategy that converts funding-rate spreads into protocol earnings credited to stakers of the yield token sUSDe.

Back-end Treasury data shows that 94% of backing assets remain on centralized venues, where Ethena’s automated execution system balances collateral and hedges in real time. The remaining collateral is held in liquid-staking tokens to capture staking rewards while maintaining a neutral net exposure. 

The protocol redirects 20% of gross fees to buy ENA on the open market, a mechanism that has burned 58 million tokens since February, according to on-chain trackers.

SEC dialogue on payment stablecoin status

Ethena’s General Counsel, Zach Rosenberg, and attorneys from Morrison Cohen met with the US Securities and Exchange Commission’s (SEC) Crypto Task Force on July 1 to request clarity on “synthetic dollars,” such as USDe. 

A meeting memorandum released by the SEC shows that the team argued that USDe functions as a payment instrument rather than a security because holders do not rely on the issuer’s efforts for profit and because redemption rights track underlying reserves, not the issuer’s balance-sheet performance. 

The submission cites two pending bills, the GENIUS Act and the STABLE Act, that would carve out a federal licensing lane for payment stablecoin issuers. Ethena told staff that USDe falls outside both drafts because the token can fluctuate slightly around $1 and carries no legal promise of par redemption, leaving it in regulatory limbo.

Company representatives urged the commission to treat synthetic dollars as a separate class and to coordinate with bank regulators if Congress finalizes a payment stablecoin framework. 

Ethena remains barred from US retail distribution pending formal guidance, so new dollar inflows primarily come from offshore funds and market-making desks that hedge their exposure on centralized exchanges. 

The protocol’s revenue pace slowed in May when average perpetual funding spreads compressed below an 8% annualized rate. Still, fee intake rebounded to $3.8 million per day in early July as renewed long-bias returned the basis to double-digit territory.

Ethena’s request for formal SEC feedback remains under review, according to the meeting log.

Mentioned in this article

Circle (NYSE: CRCL) soared 34% on Wednesday, adding another 6% after-hours, as the U.S. Senate passed a landmark bill laying the groundwork for regulated, dollar-backed stablecoins.

The move pushed Circle’s stock to $199.59 on Wednesday’s closing, with a high of $211.87 in after-hours trading. The stock is now up over 540% since its June 5 debut, marking one of the fastest climbs for a crypto stock after opening to the public.

The GENIUS Act outlined how U.S. firms can issue and manage fiat-backed stablecoins for payments. It still needs House approval and President Donald Trump’s signature, but the Senate vote signals strong bipartisan support for bringing crypto payments into the U.S. regulatory perimeter.

“History is being made,” Circle CEO Jeremy Allaire said on X, calling the bill a breakthrough for American competitiveness.

Trump, in a Truth Social post, said the bill would make the U.S. the “undisputed leader in digital assets.”

“The Senate just passed an incredible Bill that is going to make America the UNDISPUTED Leader in Digital Assets — Nobody will do it better, it is pure GENIUS,” Trump’s Truth Social post reads. “Digital Assets are the future, and our Nation is going to own it.”

Circle, the issuer of USDC, currently the world’s second-largest stablecoin by circulating value, has long pushed for clear rules around crypto dollars. Wednesday’s rally reflects investor confidence that Circle will be the chief beneficiary if the U.S. formally embraces stablecoins as digital cash equivalents.

Volume surged to over 60 million shares, nearly 2 times the average. CRCL traded between $148 and $200.89 on the day. Its market cap now sits above $48 billion, dwarfing several legacy payments firms.

Bernstein analysts, who initiated coverage on CRCL earlier this week, said the bill would “re-shore stablecoin innovation” and draw activity back from offshore issuers to regulated U.S. players.

“The bill clearly defines stablecoins as payment stablecoins,” said analyst Gautam Chhugani, “making their legal treatment closer to digital cash—and opening the door to mainstream adoption beyond crypto rails.”

Read more: Compliant Stablecoins Will Become the ‘Money Layer of the Internet:’ Canaccord