SHIB Secures Second Spot in MarketVector's Meme Coin Index, Ripple CTO Breaks Silence as to Whether He Is Satoshi: Crypto News Digest by U.Today

U.Today - U.Today has prepared the top three news stories over the past day.

Shiba Inu secures elite status in market rankings among meme coins

The new day brings a new milestone for Shiba Inu, as the dog-themed meme coin claimed the second spot in VanEck's MarketVector's Meme Coin Index, trailing only Dogecoin. According to the data on the index's website, SHIB's weight comprises 28.28%, while DOGE's stands at 30.69%. Other meme coins included in the index are Pepe (PEPE), Dogwifhat (WIF), Floki Inu (FLOKI) and BONK. As reported by Wu Blockchain X handle, the Meme Coin Index is currently the best-performing index on MarketVector, with a staggering return of 137.96% so far this year. This outstanding result underscored the increased interest and speculative investment in meme coins.

"Not true, but plausible": Ripple CTO breaks silence as to whether he is Satoshi

On Wednesday, May 8, @JeroenXRPmaxi X user shared a video from XRP Las Vegas 2024 conference, featuring Ripple CTO David Schwartz. In the video, Schwartz has once again been asked about whether he is connected to the creation of Bitcoin and if it is him who is hiding behind the mask of Satoshi Nakamoto, anonymous BTC creator. The CTO has firmly denied these assumptions, stating that even though he had the skill set to create the flagship crypto, he only discovered Bitcoin in 2011, long after its inception. Additionally, Schwartz emphasized that he is unfamiliar with the Qt interface, a crucial aspect of the early Bitcoin code. When asked if he could still be "the main guy" despite lacking the Qt knowledge, Schwartz replied: "It's not impossible. Not true, but it's not impossible." The video has scored more than 65,000 views so far, showing the XRP community's interest sparked by Schwartz's response.

Legendary trader Peter Brandt drops intriguing hint on Ethereum's (ETH) price action

In a recent X post, veteran trader Peter Brandt drew attention to Ethereum's chart, which he described as "very intriguing." In his analysis, Brandt reviews two chart patterns to determine Ethereum's potential trajectory. One of the patterns, in his opinion, resembled a flag, which is a continuation pattern that often appears during a brief pause in either a bullish or bearish trend. However, the pattern is too long to be considered a flag, with a channel seeming the most likely label. A channel forms when the price action is controlled by two parallel, sloping lines and the price has tested each of these lines at least twice. A flag might appear as a small channel after a steep trend, which develops in the opposite direction. Whether a flag or a channel, both have the potential of a breakout in both directions either up or down. "I could go either way with this chart," Brandt explained.

This article was originally published on U.Today