SushiSwap, Bitcoin & Shiba Inu – European Wrap 1 November

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SushiSwap (SUSHI) price is bullish, pumping hard with a pronounced green candlestick as SUSHI outperforms most players in the cryptocurrency arena. However, whether the hard pump is genuine or not has been called to question by web3 blockchain analytics tool, Lookonchain, which grabs data from decentralized exchanges and lists them to the public.

SushiSwap (SUSHI) price is up almost 20% in the last 24 hours, with a trading volume increase to the tune of almost 445%. The surge has the altcoin outperforming most cryptocurrencies, including the crypto top ten. However, Lookonchain has identified suspicious activity onchain, pointing to possible manipulation with the culprit going long on SUSHI for profit.

Bitcoin (BTC) price has recently printed not one but multiple sell signals both from a technical and on-chain perspective. Hence, investors need to exercise caution and control their bullish outlook, at least until the scenario changes. 

The approval of a Bitcoin spot Exchange-Traded Fund (ETF) has been a speculative event for a few years now. But lately, the ETF-related developments have been heating up. The US Securities and Exchange Commission (SEC), which approves or disapproves the ETF products, has been on the backfoot after losing a string of crypto lawsuits.

Shiba Inu teased a key feature for SHIB holders on its Layer 2 scaling solution Shibarium on October 28. The meme coin project announced the launch of a Shib Name Service (SNS) feature, to allow users to personalize their names and control their identity on Shibarium. SHIB price yielded 2% daily losses for holders on Binance. The bullish development failed to drive Shiba Inu price recovery.

Shiba Inu-themed meme coin SHIB announced the launch of the Shib Name Service (SNS) on Shibarium. As of November 1, Wednesday, the service is live for Shibarium users. This marks a key milestone for the SHIB community as it allows secure names, rather than complex addresses like 0xCD4(…).