Crypto Chronicles: Shiba Inu’s Struggles, Ripple’s Daring Move, and Cardano’s Nightly Triumph

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Shiba Inu‘s Rally: A Tragicomedy of Sell Walls 🎭

Ah, the noble Shiba Inu! This spirited pup finds itself ensnared in a perpetual tug-of-war with an insurmountable supply pressure, despite its valiant attempts at modest exchange outflows.

  • Sell Pressure. Picture this: a staggering 81.5 trillion SHIB lounging on exchanges, a veritable mountainside of tokens that explains why our furry friend struggles to maintain any semblance of upward momentum.

Indeed, with 81.5 trillion SHIB nestled comfortably on exchanges, it’s no wonder that any flicker of a rally is met with a towering wall of sell pressure. Long-term holders, trapped like hapless characters in a Dostoevskian novel, seize even the slightest upward movements as their chance to escape their self-imposed purgatory. Alas, the market lacks the depth of demand necessary to absorb such a prodigious supply reliably.

Yet, amidst this bleak tableau, there is a silver lining for the bulls! Exchange reserves have ever so slightly declined over the last 12 months, with a total reduction of approximately 500 billion SHIB. A mere whisper in the grand symphony of supply, but a whisper nonetheless!

When we gaze upon the price action, it becomes a tragic ballet: each sell-off resets SHIB into lower ranges, and even the most delicate rebounds struggle to find their footing. What we witness is persistent distribution-no panic-induced chaos here; just a serene descent into the abyss of lower price levels. Green candles remain timid, while the red ones dance with exuberance, signaling that sellers are still very much alive and kicking. Accumulation? Not quite, my dear reader.

Ripple USD: The Great Token Burn 🎇

In a bold move that would make even the most daring of magicians proud, RLUSD has incinerated 500,000 tokens, sending them off to Ethereum‘s null address as if they were confetti at a lavish gala.

  • RLUSD Burns. On December 19, in an on-chain spectacle that Ripple Stablecoin Tracker spotlighted, 500,000 RLUSD tokens were dispatched to the Ethereum “null” address (0x000), effectively vanishing into thin air.

This was no heist or whale’s tantrum; rather, it was a theatrical act of self-obliteration from the token’s own treasury! Such a scandalous burn leaves one wondering about the mysteries of the crypto cosmos.

Although half a million dollars’ worth of tokens is minuscule compared to RLUSD’s circulating supply of about 1.33 billion, it stands out-not as a mere hiccup, but as a deliberate act of audacity. With a market cap hovering around $1.33 billion, this token burn is not just market noise; it’s a clarion call for attention.

The timing of this daring escapade is equally intriguing, as RLUSD currently basks in the glow of real trading activity for such a sprightly stablecoin. The latest figures show about $107.37 million in 24-hour volume, along with a commendable No. 8 ranking among stablecoins by market cap.

NIGHT Token: A Star Amongst the Shadows 🌙

Behold the NIGHT token, a splendid creation born from the fertile grounds of Cardano, galloping ahead of both XRP and SOL like a gazelle escaping a lion’s jaws.

  • Outperforming. Charles Hoskinson, the maestro himself, has proclaimed the NIGHT token as a dazzling outperformer against the likes of XRP and Solana.

According to CoinGecko, this fiery token has ignited a trading volume of an astounding $4 billion within a single day. Launched on December 8 amid much anticipation, it swiftly found its way onto exchanges like Kraken and Bybit, much to the delight of eager traders.

  • Success. Hoskinson, with a twinkle in his eye, described the launch as an “incredible success,” hinting at the potential for a meteoric rise in TVL (total value locked) and MAUs (monthly active users).

With lofty predictions for Midnight’s future, he envisions a world where privacy solves the most vexing dilemmas of the DeFi landscape. “When Midnight turns on,” he muses, “imagine the 12-month rolling average of TVL, transactions, and MAUs. The demand for private prediction markets, stablecoins, and DEXes is palpable!”

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2025-12-22 22:13