Another week ends with notable events in the world of cryptocurrencies. Among these events, the records of Shiba Inu, Worldcoin, and Terra seem to have piqued the interest of cryptocurrency market enthusiasts globally.
Some of the top headlines that have generated buzz in the broader cryptocurrency market this week are:
Shiba Inu drives optimism
Shiba Inu, a prominent meme, showcased a storm of hacks this week, with significant developments within its ecosystem. The DN404 test token, SHEboshi, debuted this week, facing a stock drought shortly after its launch.
Interestingly, the Shiba cryptocurrency community readjusted the supply of Sheboshis just before its launch, increasing it from 12,000 to 20,000. However, with the immense popularity of the test token DN404, it quickly ran out of stock.
Meanwhile, as the community continues to burn massive amounts of SHIB, the meme has charted a bullish mood for itself this week.
Worldcoin missiles
Sam Altman's AI and crypto project, Worldcoin, saw a storm of big moves this week as its price soared nearly 200%. Several factors appear to have supported higher WLD prices, including increasing whale accumulations and increased project adoption.
On the other hand, Alameda's WLD holdings generated additional inferences of potential shifts in price action. With the price of WLD skyrocketing this week, speculation has emerged about a WLD sale in Alameda.
Read also: JPMorgan expects Bitcoin to be priced into halving already, is there a big correction ahead?
Terra developments
The Terra Classic community proposed a decisive measure to raise the initial deposit minimum for new proposals at the deposit stage this week. This is a measure to prevent spam proposals from growing in the Deposit Voting section.
At the same time, the aforementioned measure, Proposition No. 12071, “setting the minimum initial deposit to 1 million LUNC,” was officially passed this week, with 89% of votes in favor.
Meanwhile, Terraform Labs co-founder Do Kwon's tussle with the US Securities and Exchange Commission has taken a new turn, with the court setting pretrial deadlines and other actions amid news of Do Kwon's extradition.
The Terra Classic community also saw potential rejection of the Tax2Gas proposal, with 48% rejecting the proposal and 23% favoring it. This has also piqued the interest of cryptocurrency market enthusiasts globally.
Read also: Ex-Ripple Director Denies XRP ETF Speculation, Corrects Crucial Facts
