The Shib News Recap: Monday

This Monday, The Shib Daily shines the spotlight on Shiba Inu (SHIB), which analysts predict is on the brink of a major price surge. Furthermore, Shibarium’s total value locked (TVL) is witnessing significant growth ahead of a critical hard fork.

We also bring you pivotal crypto news headlines that examine the fallout from mining scandals and unregistered operations, and what this means for cryptocurrency and investment funds. The conversation also shifts toward the monopolistic tendencies emerging within the tech industry.

Shiba Inu Bullish Breakout Sparks 179% Price Predictions; Shibarium Hits Another Record TVL

Shiba Inu surged over the weekend due to a confirmed bullish pattern breakout, with predictions of a 179% price rise to $0.000081. It briefly reached $0.00003300 before falling to $0.00002907 on Monday, reflecting a 2.98% dip. Nevertheless, it remains up 10.90% for the week and 64.30% for the month. A 31.25% increase in trading volume indicates heightened investor activity responding to these forecasts.

Meanwhile, Shibarium has reached a new all-time high (ATH) in TVL at $10.22 million. This achievement coincides with an upcoming hard fork, which indicates important progress for the ecosystem. The TVL grew from $8 million just a week ago, thanks to increased user engagement and DeFi activity. Additionally, the network now has 203,266 accounts, a 12.92% rise since November 2.

Touzi Capital’s $95 Million Crypto Scheme Under SEC Scrutiny

The SEC has filed a lawsuit against Touzi Capital, LLC and Eng Taing for allegedly misleading over 1,200 investors about the use of their funds in cryptocurrency mining. Allegations include unregistered securities offerings that raised nearly $95 million between 2021 and 2023. The SEC also claims that Taing misused investor funds for personal expenses and commingled funds from other ventures. The Commission is requesting injunctions, civil penalties, and a ban on Taing from serving in leadership roles.

Elon Musk’s Lawsuit Claims OpenAI and Microsoft Are Thwarting Competition in the AI Industry

In a lawsuit filed in Northern California, Elon Musk accuses OpenAI and Microsoft of anti-competitive behavior in the AI sector. Musk argues that OpenAI has moved from a non-profit to a $157 billion for-profit model. He claims their partnership has resulted in market monopolization and raises concerns about conflicts of interest involving OpenAI CEO Sam Altman. Although Musk asserts these actions have hurt xAI’s funding opportunities, the company has still managed to secure a $5 billion investment.

Listen to “The Shib and Tell,” the official podcast of The Shib available on Spotify for the latest updates on the Shiba Inu community and the crypto space. Don’t forget to subscribe to The Shib Daily on YouTube as well for a wealth of exclusive insights.

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.

Post Views: 83