The Shib Crypto Recap: Tuesday

This Tuesday, the major stories in crypto news focus on antitrust legal actions affecting the tech industry’s online services, shifts in crypto mining dynamics within Russia, and the impact of President-elect Trump’s foray into cryptocurrency exchanges.

As for Shiba Inu updates, a cryptocurrency analyst predicts a potential major surge for Shiba Inu (SHIB), while Bone ShibaSwap (BONE) recorded trading volumes surpassing $22 million today.

Federal Judge Supports DOJ’s Move to Break Google’s Chrome Monopoly

The U.S. Department of Justice intends to ask a federal judge to order Google to sell its Chrome web browser in an antitrust case. This would aim to diminish Google’s grip on the browser market and help competitors. In August 2024, Judge Amit Mehta identified Google as a monopolist in a 286-page ruling against its search dominance. The DOJ’s latest effort is part of an ongoing antitrust case aimed at Google’s Chrome, Android OS, and its involvement in artificial intelligence. The Chrome monopoly could influence search results, advertising rates, and data privacy. Antitrust laws are vital in curbing monopolistic behavior in the tech industry.

Russia to Impose 15% Tax on Cryptocurrency Earnings

The Russian government has approved amendments to classify digital currency as taxable property. There will be a maximum income tax of 15% on cryptocurrency earnings, and transactions will not incur value-added tax (VAT). This initiative seeks to regulate crypto mining and trading while balancing state and business interests. Income from crypto mining will be taxed at market value upon receipt, allowing miners to deduct expenses. Cryptocurrency transactions will be taxed similarly to securities, capped at a 15% tax rate. Mining operators are also required to report user information to tax authorities.

TMTG’s Bakkt Acquisition on the Horizon

Donald Trump’s media company is reportedly close to acquiring Bakkt, a cryptocurrency trading platform. Trump Media and Technology Group (TMTG), owner of Truth Social, is aiming for an all-share deal, with Bakkt’s market value noted at just over $150 million. This move would boost Trump’s influence in the crypto space and match his campaign’s supportive stance on cryptocurrencies. Following the rumored acquisition, Bakkt’s stock surged by 162%, and TMTG’s rose by about 16.7%, showing positive investor sentiment. Securing this deal would mark a significant step for Trump into the digital assets market.

SHIB Eyes a 42% Price Surge as BONE’s Trading Volume Soars

Crypto analyst @TheMoonCarl predicts SHIB might rise to $0.00003630. His analysis is based on SHIB’s current position within a descending wedge pattern, a bullish reversal signal. This suggests a decrease in downward pressure and a potential price increase. If SHIB breaks above the wedge’s upper resistance, it could go up by about 42%. The analyst’s shared a chart highlighting key supporting factors. The token has seen intense community rallies and ongoing market stagnation, reinforcing the analyst’s positive outlook based on its history of dramatic price fluctuations driven by social media and retail investor activity.

Meanwhile, BONE is seeing a sharp rise, with over $22 million in trading volume today and a double-digit gain in the past month. This price increase follows a period of consolidation, hinting at an accumulation phase. A significant green candlestick points to renewed buying, with a daily close above the $0.50 level. This rise coincides with high trading volume, confirming the bullish breakout. Technical indicators also showcase positive momentum: the MACD line has crossed above the signal line, and a growing green histogram indicates strength. Support around $0.44 remained firm during pullbacks, showing buyer resolve, while resistance is projected near $0.64. The token’s market cap grew by 18.56% to $121.29 million, demonstrating its increased presence in the Shiba Inu ecosystem.

Malaya has positions in SHIB, ETH, USDT, MATIC, etc. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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