U.Today has prepared the three main stories of the past day.
XRP attracts $1.2M amid altcoin market slump
As CoinShares recently reported, last week XRP influx attracted of $1.2 million. This surge contrasts sharply with the subdued activity seen in the broader altcoin market. Compared to XRP, other altcoins cannot boast such large inflows; Solana, Litecoin, and Chainlink saw inflows of $0.7 million, while Binance received only $0.2 million. Notably, XRP displays a weekly trend of increasing inflows; in the previous week, XRP received $0.8 million, compared to $0.4 million in the previous week. There could be a number of reasons behind the XRP influx, including a change in investor interest, but the exact cause remains unknown. At the time of writing, XRP is trading at $0.4819, down 4.17% in the last 24 hours, according to CoinMarketCap data.
40 Trillion Shiba Inu (SHIB) in Spotlight as Bulls and Bears Clash
Based on current Shiba Inu price action, the dog-themed meme coin could be approaching a crucial level of support of 40,000 billion SHIB tokens. According to IntoTheBlock data, 51,350 addresses hold 40.08 trillion SHIB in a range between $0.000019 and $0.000023, which is extremely close to the current market price of $0.0000232. The 40 trillion token lineup has become essential support for Shiba Inu; if this support holds, it could serve as the basis for a potential price rebound. On the other hand, if support fails, SHIB could face further downward pressure, potentially to $0.000014. A high-stakes battle between the bulls and bears has put the 40 trillion SHIB support level front and center right now, as each attempts to drive the price higher in their favor. The outcome of this battle could determine the near-term price trajectory of SHIB. However, it remains to be seen who will be the winner.
Cardano (ADA) dominates social media discussions
Data provided by Santiment shows that Cardano is leading the race in terms of social media engagement. Such an increase in activity among social media users is caused by the recent announcement by Cardano founder Charles Hoskinson; like before reported by U.Today, Hoskinson shared his Message on June 9, the network was on the verge of the Chang hard fork. According to the founder, the hard fork is expected to be the most important development for Cardano as well as the industry as a whole. Hoskinson's optimism sparked heated discussions on social media, with many users supporting his optimistic view. However, this buzz has not resulted in any significant increase in the price of ADA. At the time of writing, ADA is changing hands at $0.419, down 6.42% in the last 24 hours, per CoinMarketCap.