Grayscale wins as the SEC war against crypto starts to crumb | The Crypto Basic on Binance Square

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The Crypto Basic

Aug 29, 2023

Grayscale wins as the SEC war against crypto starts to crumble in courts.#Grayscale #SEC #crypto 

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#Dogecoin has surged 7%, challenging a key resistance trendline. Bulls now eye the $0.20 level amid rising long positions and a broader market recovery. As the crypto market bounces back after Easter, Bitcoin crosses above the $87,000 mark. Amid the recovering market, the meme coin segment has soared by nearly 4%, reaching a market cap of $47.45 billion. Among the top meme coins, Dogecoin has soared by nearly 4% over the past 24 hours, crossing the $0.16 barrier. Will this short-term recovery in Dogecoin result in a breakout rally to $0.20? Dogecoin Price Analysis: Targeting Trendline Breakout Toward $0.20 On the 4-hour chart, Dogecoin’s price action reveals a bullish recovery, now testing a key resistance trendline. The rally has pushed prices above both the 50 and 100 EMA levels. Bulls have also broken through the 38.20% Fibonacci retracement level at $0.1597. The recovery began with a Morning Star pattern, followed by five consecutive bullish candles, resulting in a nearly 7% surge. This upward movement has triggered a positive crossover in the MACD and signal lines. Additionally, it sets the stage for a potential bullish crossover between the 50 and 100 EMAs. Currently, Dogecoin faces resistance at a short-term descending trendline, which is temporarily limiting further gains. However, as broader market sentiment improves, increased momentum and hype may help propel DOGE prices. In such a scenario, Dogecoin could break through the overhead resistance confluence formed by the 200 EMA and the 50% Fibonacci level near $0.1680. If an extended rally pushes past this critical level, the uptrend could reach $0.20, representing a potential 25% surge. Conversely, prices may retest the psychological support at $0.15 if a bearish reversal occurs. #CryptoNewss

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#shiba⚡ Inu developer Kaal Dhairya clarified that the Treat token, which went live on Ethereum in January 2025, has not been deployed on Solana or Base. The developer pointed to misinformation stemming from the compromised X account “Shiba Inu Treat,” which has reportedly been misused by unknown actors. This follows ongoing confusion surrounding the legitimacy and existence of the TREAT token across multiple chains. Shiba Inu: Treat Not on Solana or Base In response, Kaal Dhairya stated that no official version of the TREAT token exists on either the Solana or Base networks. He confirmed that any such tokens using the SHIB brand or imagery on those blockchains are unauthorized. Additionally, Susbarium, a Shibarium sleuth on X, corroborated the compromise and urged users to verify any token using the SHIB badge through SHIB.IO or the Ethereum blockchain. According to Susbarium, all legitimate tokens in the Shiba Inu ecosystem originate on Ethereum, including TREAT. Previous Cases of Misinformation In January, developer Dhairya responded to other circulating claims that key Shiba Inu ecosystem tokens—SHIB, LEASH, BONE, and TREAT—had been deployed on the Solana network. He clarified that none of these tokens exist on Solana and addressed the misinformation directly on social media. Dhairya emphasized that if the Shiba Inu team ever decides to expand its token availability to multiple chains, including Solana, such developments would be officially announced through the project’s main website. Meanwhile, the Shiba Inu team has previously had to respond to similar cases of misinformation. In a prior instance, Shytoshi Kusama had dismissed reports that the TREAT token was stealth-launched in 2023. That version, circulating under the contract “0xFBD…146B” on ShibaSwap, was later confirmed to be a fake. CryptoMumms, who earlier claimed the token had launched before the official release, was contradicted by Kusama. The Shiba Inu lead developer maintained that token had not been released before its actual launch date on January 14, 2025.

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