Benzinga - This week has been a whirlwind for the cryptocurrency market. With legislators nearing a decision on a highly anticipated stablecoin bill, Elon Musk fueling Dogecoin speculation, GameStop Coin taking a second breath, signals of a Shiba Inu rally, and a major surge in the value of Bitcoin, Ethereum, and Dogecoin, the crypto landscape is buzzing with activity. Let’s dive into these stories.
Maxine Waters Reveals Progress on Stablecoin Bill
Rep. Maxine Waters (D-Calif.) revealed in a chat with Politico that lawmakers are close to finalizing a bill that would regulate stablecoins. The proposed legislation, which has been the subject of months of discussion with the House Financial Services Committee head Patrick McHenry, centers on the extent of power the Federal Reserve should wield over stablecoins, including rule-making authority on their issuance. Read the full article here.
Dogecoin Defies Decline, Outshines Memecoin Rivals
Despite a slight dip, Dogecoin DOGE/USD managed to outshine its memecoin competitors, thanks in part to strong metrics and speculation sparked by Elon Musk. IntoTheBlock data on Monday showed that Dogecoin holders in profit stand at 46.94%, surpassing percentages for Shiba Inu SHIB/USD, Pepe PEPE/USD, and Floki FLOKI/USD. Read the full article here.
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GameStop Coin Hits 100% Rise, Dubbed “Legendary”
GameStop Coin rose 100% in 24 hours on Tuesday, a move that the crypto community doesn’t see as the end of the road. The coin’s volumes reached a significant $14.4 million based on DEXScreener data. This price pump could be linked to a report that GameStop will announce positive Q4 earnings for 2023 and achieve profitability for the upcoming year earlier than expected. Read the full article here.
Analyst Ali Martinez Predicts Shiba Inu Rally
Crypto analyst Ali Martinez has identified a buy signal for the self-proclaimed ‘Dogecoin Killer’ Shiba Inu SHIB/USD, hinting at a potential rally. Using the TD Sequential indicator, a technical analysis tool used to predict price trends and reversals, Martinez suggests that Shiba Inu could be preparing for an upswing. Read the full article here.
Bitcoin, Ethereum, Dogecoin Experience Major Surge
Major cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, saw a significant surge on Wednesday evening. This upswing was driven by the increased accumulation of Bitcoin by large holders and the evaluation of a fresh batch of strong corporate profits. Read the full article here.
Read Next: Maxine Waters Says Lawmakers Are ‘Very, Very Close’ To Finalizing Stablecoin Regulation Bill
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