Bitwise CIO Reveals XRP's Secret to Success, SHIB Surge Amid Market Sell-Off: U.Today's Crypto News Roundup

Bitwise CIO Highlights XRP Community Strength at Las Vegas Event

Bitwise Chief Investment Officer Matt Hougan recently shared insights from the XRP Las Vegas event on social media. He observed that the XRP community clearly recognizes the distinct market roles of XRP and Bitcoin. Hougan praised the community's exceptional strength, noting that a cryptocurrency's success often hinges on its community support—a factor where XRP excels. Earlier this year, Bitwise projected XRP could potentially reach nearly $30 by 2030 if it gains significant traction in payments and tokenization sectors.

Shiba Inu Experiences Dip Amid Broader Crypto Market Sell-Off

Shiba Inu (SHIB) saw a 5% price drop on May 31 as part of a wider cryptocurrency market downturn. The meme coin has been declining since May 28, falling below its 50-day moving average of $0.00001378 for the first time since April. Analysts suggest SHIB could test the $0.00001 support level if this trend continues, though a rebound might lead to short-term consolidation. Market data reveals $700 million in liquidations across crypto markets, with 89% being long positions—indicating potentially overextended bullish sentiment. On-chain metrics show strong support between $0.000012-$0.000013, where 64,000 addresses hold 30.49 trillion SHIB. Traders are monitoring whether SHIB will stabilize at current levels or break lower, with key resistance points at $0.000014 and $0.000019.

Michael Saylor Highlights Growing Corporate Interest in Bitcoin

MicroStrategy founder Michael Saylor recently emphasized the increasing corporate adoption of Bitcoin during his Bitcoin 2025 conference speech. His comments followed several high-profile Bitcoin announcements, including Trump Media's $500 million BTC investment plan and the launch of Twenty One—a joint venture by Tether, SoftBank, and Strike's Jack Mallers aiming to acquire 42,000 BTC. Saylor noted a surge in corporate interest mirroring MicroStrategy's Bitcoin strategy, despite some skepticism from companies like Microsoft. He remains confident in Bitcoin's long-term growth, stating MicroStrategy will continue accumulating BTC as he believes acquisition will become progressively more challenging. "We'll work exponentially more efficiently to buy Bitcoin," Saylor remarked, predicting continued price appreciation.