Peter Brandt Reacts as Ethereum Hits New All-Time High Above $4,878

Popular wallet tracker Shibburn has revealed that a substantial amount of Shiba Inu meme coins has been removed from the circulating supply recently. However, it did not help to drive the SHIB burn rate high.

Meanwhile, the SHIB meme coin has demonstrated huge price growth, surging by more than 11%.

59.4 million SHIB get burned

According to the aforementioned data source, over the past seven days, an impressive amount of meme coins has been transferred to anonymous wallets — 59,405,917 SHIB. The three largest SHIB chunks that have been burned over this period of time moved 27,062,451, 10,000,000 and again 10,000,000 meme coins.

However, the overall burn rate for the past week is not impressive since it has dropped by nearly 42%. Things stand better with the daily burn rate, which is 13.71% up. Despite the positive reading, the amount of coins transferred to unspendable wallets has been tiny so far — just 79,519 SHIB.

SHIB price follows Bitcoin upward

On Friday, the second-largest meme coin, SHIB, demonstrated a remarkable price surge, increasing by 11.52% in a single day. It printed several consecutive hourly candles, the largest of which drove it 4.85% up.

Ultimately, Shiba Inu reached a local high of $0.00001350, but then the asset rebounded, losing 3.68% of its value. By now, it has grown back, printing a 2.3% rise. SHIB is currently changing hands at $0.00001330.

On Friday, the SHIB price surged in tandem with the Bitcoin price trajectory, as BTC briefly reclaimed the $117,000 level. The growth was fueled by the statement of the Fed Reserve chairman, Jerome Powell, saying that the Federal Reserve would bring interest rates down a little next month. On this news, Ethereum shot to a new all-time high for the first time since November 2021.

The long-running legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC) has concluded, ending one of the most closely watched courtroom battles in crypto history.

On August 22, the Second Circuit Court dismissed all outstanding appeals, confirming that transactions involving XRP on public exchanges do not qualify as securities sales. The ruling ends a dispute that began in December 2020, when the SEC accused Ripple of raising $1.3 billion through unregistered XRP offerings.

Ripple Ends Five-Year Fight With $125 Million Fine

Ripple’s legal defense spanned nearly five years and cost more than $100 million, reflecting the uphill battle it faced under the hostile regulatory environment shaped by SEC Chair Gary Gensler and the Biden administration.

However, the trajectory of the case shifted in July 2023 when Judge Analisa Torres ruled that retail sales of XRP were lawful, while institutional sales violated securities laws.

Both Ripple and the SEC initially appealed that split ruling, prolonging the uncertainty.

However, the political climate shifted with the return of Donald Trump and the appointment of a more crypto-friendly SEC leadership. This development opened the door to settlement talks.

By March, Ripple Chief Executive Brad Garlinghouse confirmed a tentative deal involving a $50 million penalty and mutual withdrawal of appeals. Judge Torres initially rejected that agreement, keeping the case unresolved.

But in early August, both sides jointly requested dismissal, and the Second Circuit endorsed the proposal with a $125 million fine.

Crucially, Torres’ earlier opinion—emphasizing that “XRP itself is not a security”—remains intact.

Market observers believe this precedent will influence future product approvals and regulatory guidance.

XRP ETF Momentum Accelerates

The clarity from the ruling immediately sparked movement in the investment products sector.

On August 22, seven asset managers, including Grayscale, Franklin Templeton, Bitwise, CoinShares, WisdomTree, 21Shares, and Canary, updated their filings for an XRP-focused spot exchange-traded fund (ETF).

Nate Geraci, president of investment advisory firm NovaDius Wealth, described the flurry of activity as evidence that issuers are aligning proposals and positioning for an eventual regulatory acceptance.

Notably, the SEC has not approved a spot XRP ETF product in the US despite the presence of leverage funds.

Meanwhile, pro-crypto attorney John Deaton noted that October will be a critical month, as the SEC faces a series of ETF application deadlines—beginning with Grayscale on the 18th and ending with WisdomTree on the 25th.

Deaton pointed out that trading for these products could begin within days if the SEC approvals mirror the process for Bitcoin spot ETFs.

However, their launches could take several months if the SEC demands additional disclosures, as it did for Ethereum ETFs.

Meanwhile, these developments sparked optimism in the XRP market.

According to BeInCrypto data, the token gained 4% during the last 24 hours and traded at $3.01 as of press time.

Dogecoin, the largest meme coin, posted a strong 9.48% daily gain, climbing to $0.2381 with a market cap of $35.81 billion. The move comes amid a sharp increase in trading volume, which surged over 160% to $5.3 billion. Also, because of a mix of whale accumulation, market rotation into altcoins, and technical strength, despite lingering concerns over Dogecoin’s security model. Curious about where Dogecoin price could stroll next? Join me as I decode the same.

Dogecoin Price Analysis

DOGE price has broken decisively above its 30-day SMA at $0.222 and cleared the Fibonacci 23.6% retracement level at $0.239. Over the past 24 hours, price ranged between $0.2088 and $0.2417, with buyers stepping in aggressively. This was after whales scooped up 680 million DOGE, worth about $161 million, between August 20 and 21. This large-scale accumulation, now accounting for nearly half the circulating supply, reduced selling pressure from retail traders and signaled strong institutional confidence.

The highly anticipated Jackson Hole speech by Fed Chair Jerome Powell was met with massive enthusiasm by investors as they poured billions into the cryptocurrency market.

Bitcoin jumped by over five grand from bottom to top, while some of the biggest altcoins rocketed to new all-time highs.BTC Soared to Over $117K

The days leading to the event were quite grim, to say the least. Bitcoin opened the business week with an immediate price drop that drove it from over $118,000 to $115,000. Although the bulls tried to stage a quick recovery, BTC was stopped at $117,000 and driven south even harder to under $113,000 by Wednesday and Thursday.

The landscape worsened on Friday, hours before the Jackson Hole event. BTCdivedonce more, this time to its lowest position since early July of under $111,700.

As Powell took the stage, though, the situation started to change quickly. Although he didn’t confirm that there would be rate cuts in September, his statements were regarded as positive for future reductions, and BTCskyrocketedwithin minutes to over $117,000.

It has lost some traction since then and now sits below $116,000; it’s still over 2% up on the day. Its market cap is above $2.3 trillion, but its dominance over the alts has taken another hit and is down to 56.5%.ETH, BNB to New ATHs

Perhaps the most significant beneficiary of Powell’s speech from the larger-cap alts was Ethereum. The second-largest cryptocurrency had dipped below $4,200 earlier in the day but went on a massive roll, taking it to a new all-time high of roughly $4,900 (although CoinGecko hasn’t confirmed this, it occurred on most exchanges).

Binance Coin is another alt that shot up and tapped a new peak of $900. SOL has gained 10%, ADA is up by 7%, DOGE by 9%, SIU by 9%, XLM by 5.5%, and AVAX has shipped by 9%. XRP has reclaimed a crucial resistance of $3.00.

With most other altcoins charting notable gains, it’s no wonder that the total crypto market cap has added over $200 billion since yesterday’s low and is close to $4.1 trillion on CG.

The conversation around cryptocurrency in the United States has taken a remarkable turn. Crypto leaders are calling it a turning point. 

After years of regulatory crackdowns and enforcement-led actions, the tone in Washington toward digital assets has shifted dramatically, signaling a path toward mainstream acceptance. 

Ripple CEO Brad Garlinghouse said the difference in how policymakers now discuss digital assets compared to last year is both dramatic and palpable. 

Speaking at the Wyoming Blockchain Symposium hosted by SALT and Kraken, he described the mood as far more supportive than in the past. What surprised him most was hearing several Federal Reserve governors openly speak in favor of blockchain technology, something he called a new dawn for the industry.

John Deaton – From ChokePoint 2.0 to Mass Adoption

This shift has also been recognized by legal voices in the crypto space. Attorney and XRP advocate John Deaton captured the mood by calling it a “180.” 

He recalled how the sector went from being suffocated under “ChokePoint 2.0” and enforcement actions to now being positioned for universal acceptance and mass adoption. His statement highlights the drastic changes that have occurred in a relatively short time.

Alderoty Stresses Coordinated Regulation in Post-GENIUS Act Era

Ripple’s Chief Legal Officer, Stuart Alderoty, also weighed in after participating in policy-focused panels at the event. He joined representatives from Andreessen Horowitz, the Blockchain Association, Mysten Labs, and CNBC to discuss the future of regulation in what he called a post-GENIUS Act world. 

Alderoty highlighted that the most important step forward will be ensuring a coordinated approach between lawmakers and the executive branch. Such a framework, he argued, would provide clarity for the market while supporting innovation.

U.S. Positioned to Shape the Global Future of Crypto

The tone of these discussions reflects a broader change in how traditional policymakers view the role of cryptocurrencies. For years, the sector was met with skepticism and strict oversight, but the conversation is now shifting toward collaboration and long-term growth. 

Supporters see this as an essential step toward aligning regulation with innovation, while critics warn that challenges such as volatility, investor protection, and consistent oversight across states remain unresolved.

If this momentum continues, the country may not only provide clarity for its own market but also play a leading role in shaping the global future of digital assets.

FAQs

The tone in Washington has shifted dramatically from regulatory crackdowns toward collaboration and support for mainstream crypto adoption and innovation.

Ripple’s CLO stresses the need for a coordinated approach between lawmakers and the executive branch for market clarity and innovation.

This new collaborative stance positions the U.S. to potentially lead in shaping the global future and regulatory framework for digital assets.

The crypto world has no shortage of memecoins, but PENGU is starting to stand out in ways few imagined possible. What started as a playful memecoin is now positioning itself as a serious contender in the digital asset space.

With NFT ETFs in the pipeline, top chart analysts now predict the PENGU token to hit $0.10 mark, fueled by strong bullish patterns. 

PENGU: From Toys to GIFs: Mainstream Appeal

PENGU isn’t just another memecoin. Over the past year, it’s become a top crypto brand, driven by Luca Netz, the entrepreneur who transformed Pudgy Penguins by focusing on characters over logos because people don’t remember logos, they remember faces.

From listings on major exchanges to partnerships with well-known institutions like VanEck, Bitwise, and even Sotheby’s, PENGU has managed to build legitimacy far beyond internet jokes.

Its reach into mainstream culture is also remarkable. The brand has sold more than 2 million toys, attracted over 5 million social media followers, and generated 116 billion GIF views. 

These numbers show PENGU isn’t just a niche crypto project, it’s becoming a household character.

Pudgy Penguins ETF To Get Approval By Oct

Beyond the memes, serious institutions are paying attention. Canary Capital Group has filed with the Securities and Exchange Commission for permission to launch a Pudgy Penguins exchange-traded fund (ETF) that will keep up to 15% of its assets in Pudgy Penguins NFTs.

On top of it prediction markets show 58.5% don’t expect PENGU ETF approval before October, citing a lack of utility compared to established cryptocurrencies.

PENGU Token Eyeing $0.10 Level

Looking at the Pengu price chart, top analyst Ali Martinez says it could be on the verge of a major breakout. Martinez highlighted the falling wedge formation on PENGU’s 12-hour chart, a pattern that often precedes strong bullish moves. 

As of now, Pengu is trading around $0.0357, the token sits just above its key support at $0.027. If this level holds, momentum could shift quickly in favor of buyers.

Martinez’s analysis shows possible stages of growth, with price levels at $0.043, $0.053, and $0.065 acting as milestones on the way to the $0.10 mark.

Still, risks remain. If PENGU fails to defend $0.027, the token could slip toward the $0.022–$0.024 range.