Shiba

Richard

Bitcoin

Shiba Inu

<figure>
 <figcaption>
  Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<p dir="ltr">U.Today has prepared summaries of the top three news stories over the past day.</p>
<h2 dir="ltr" id="rich-dad-poor-dad-author-reacts-to-bitcoin-crash">"Rich Dad Poor Dad” author reacts to Bitcoin crash</h2>
<p dir="ltr">Yesterday, Robert Kiyosaki, seasoned entrepreneur and author of "Rich Dad Poor Dad" bestselling book,&nbsp;<a href="https://u.today/rich-dad-poor-dad-author-reacts-to-bitcoin-crash" rel="noopener noreferrer nofollow">took to X platform</a> to share his take on the current markets as they struggle through the storms of "the sea of red." In his&nbsp;<a href="https://x.com/theRealKiyosaki/status/1820286189301326209" rel="noopener noreferrer nofollow">X post</a>, Kiyosaki stated that at this difficult time, he is getting ready to purchase more precious metals and Bitcoin. "Crashes are times when the brave get richer and the cowards get poorer… Because they sell or do nothing,"&nbsp;<a href="https://x.com/theRealKiyosaki/status/1820287768154845688" rel="noopener noreferrer nofollow">wrote</a> the author, advising his followers to be smart, stay calm and "Invest when the cowards are quitting." As reported by U.Today, the previous day saw Bitcoin dropping to $51,331, reaching its lowest level since February. The largest crypto collapsed together with other assets following the newly emerged fears of a recession fueled by recent U.S. economic data.</p>
<h2 dir="ltr" id="shiba-inu-shib-to-add-another-zero-to-its-price">Shiba Inu (SHIB) to add another zero to its price</h2>
<p dir="ltr">Even though Shiba Inu has managed to recover from&nbsp;<a href="https://u.today/shiba-inu-shib-to-add-another-zero-to-its-price" rel="noopener noreferrer nofollow">its recent nosedive</a>, currently trading up 18.65% at $0.00001335, it is still significantly far from $0.00002, the level last seen in the middle of July. The reason for SHIB's drop lies in a combination of bearish sentiment and marketwide liquidations, which trapped the meme token in a downward spiral along with other assets. This led Shiba Inu to break below important support levels, with its price positioning near $0.00001, a crucial psychological zone. If SHIB declined below this barrier, it would see additional losses and possibly add another zero to its value, indicating bearishness for investors. However, if market conditions stabilize, the community and speculative nature of meme coins may prompt a rebound.</p>
<h2 dir="ltr" id="binance-ceo-breaks-silence-on-how-long-bear-market-will-continue">Binance CEO breaks silence on how long bear market will continue</h2>
<p dir="ltr">As the market is facing extreme fear, uncertainty and doubt, with Bitcoin falling below the $50,000 mark and liquidations totaling $1 billion over the previous 24 hours, Binance CEO Richard Teng&nbsp;<a href="https://u.today/binance-ceo-breaks-silence-on-how-long-bear-market-will-continue" rel="noopener noreferrer nofollow">took to social media</a> to opine on the recent crash and how long it could last.&nbsp;<a href="https://x.com/_RichardTeng/status/1820399869884027299" rel="noopener noreferrer nofollow">According to Teng</a>, the latest crash in both the crypto and stock market is down to macroeconomic factors; however, he does not believe that they indicate a long-term negative trend. Still, the Binance boss warned that "there is still significant potential for market fluctuations" due to potential rate cuts by the Federal Reserve and geopolitical issues. Despite the grim assumption, Teng recommended investors to stay up to date and keep building regardless of the current challenges.</p>

'Rich Dad Poor Dad' Author Comments on Bitcoin Crash, Shiba Inu Could Add Another Zero to Its Price, Binance CEO Opines on How Long Bear Mar...

Table of Contents

U_Today

Other articles published on Aug 6, 2024

Crypto Mining in Paraguay Set for Expansion: 400 MW Projects Awaiting Approval

Chainlink Proof of Reserve Now Backs 21Shares Core Ethereum ETF

India Demands $86 Million from Binance for GST Non-Compliance

Crypto Market Sees 5 Coins Surge Despite Major Weekly Declines, Bittensor (TAO) Leads

Ripple CTO Slams Crypto Influencer For Attempting to Intimidate Critics

JITO Foundation Releases Code for Jito Restaking on Solana

Join our free newsletter for daily crypto updates!