Cryptocurrency
Dogecoin, Shiba Inu Prices Fall as Holders Back New Meme Coin $MK

It’s been a red 24 hours in the meme coin market, with Dogecoin (DOGE) and Shiba Inu (SHIB) posting losses.
DOGE has fallen by just over 1%, while SHIB is down 2% as investor sentiment turns bearish.
However, not all meme coins are experiencing a downturn – the new gaming-focused token Meme Kombat (MK) is still being backed by traders ahead of its upcoming Uniswap listing.
DOGE & SHIB Trapped in Range as Meme Coin Momentum Fizzles
Dogecoin has posted two red daily closes in a row, taking the coin down to the $0.079 level.
DOGE has been trapped around this level for over a week, with buyers and sellers battling it out for supremacy.
The good news for DOGE holders is that the $0.079 level hasn’t been broken to the downside since November 24 – suggesting it’s acting as a floor for price.
However, on the other hand, the 50-day exponential moving average (EMA) is acting as a dynamic resistance level, meaning Dogecoin’s price action remains extremely choppy.
Shiba Inu is experiencing a similar scenario, with the token’s value rising 14% last week before dropping 7% from Tuesday’s high.
SHIB now looks to be falling towards the $0.0000087 level, which has been tapped three times since the start of 2024.
If SHIB breaks below this crucial support zone, it could lead to a further drop back to the $0.0000077 level.
With the meme coin market capitalization falling almost 3% in the past 24 hours, it remains to be seen whether DOGE and SHIB can break out of their current ranges.
XPayments Account Sparks Brief Price Surge for DOGE
Although things are currently looking bearish for the meme coin space, this is in stark contrast to the relatively bullish conditions last week.
This bullishness came from the surprise creation of the “XPayments” account on X (formerly known as Twitter).
Although this account hasn’t yet made a post, and Elon Musk hasn’t revealed what it is about, investors immediately began speculating that it could be related to potential crypto payments functionality.
There have long been rumors about X integrating DOGE as a payment option – so the creation of XPayments naturally led to heightened interest in the world’s largest meme coin.
DOGE soared over 3% on the day the account was created, then soared a further 6% in the days following.
However, this upward momentum couldn’t be sustained – with the coin returning to the red this week.
Meme Kombat Presale Bucks Downward Trend as Highly-Anticipated Launch Nears
Even though Dogecoin and Shiba Inu have struggled in recent days, not all meme coins have been experiencing a sell-off.
One low-cap meme coin still backed by traders is Meme Kombat (MK) – a gaming-focused project hosted on Ethereum.
Unlike DOGE and SHIB, Meme Kombat isn’t yet available on the open market, given that it’s still in its presale phase.
However, this presale phase is now in its final stage – meaning prospective investors have one final chance to buy MK before its Uniswap listing.
MK tokens are on offer for $0.279 during the final stage of the presale and can be purchased using ETH, USDT, or BNB.
Notably, those who purchase MK early can immediately stake their tokens and generate APYs of 119%.
Regarding tokenomics, 50% of the total MK supply has been set aside for presale investors, while 10% will be used to provide DEX liquidity.
A further 30% has been earmarked for staking and battling rewards – highlighting the development team’s focus on rewarding its community.
This approach suggests that Meme Kombat isn’t just another hype-driven meme coin but is instead trying to carve out a niche in the gaming and DeFi spaces.
Leading the project is experienced Web3 entrepreneur Matt Whiteman, who currently serves as COO of North Technologies, an NFT trading and analytics platform.
With Whiteman at the helm and continued interest in its presale, Meme Kombat looks well on its way to making a splash when it launches in the coming weeks.
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Cryptocurrency
Ethereum Foundation Announces Layoffs and Restructuring to Boost Scalability and User Experience

The Ethereum Foundation announced that it has fired some members of its research and development team.
This move is part of a larger restructuring plan designed to address key protocol design challenges.
Reorganization Efforts
According to a Monday blog post, the Foundation has rebranded its Protocol Research and Development division under a new, simplified name, “Protocol.” The organization is also reorganizing its teams and introducing clear coordination structures focused on three main areas: scaling Ethereum’s base layer, expanding blob space, and improving user experience.
“This also means some members of PR&D won’t be continuing with the Ethereum Foundation. We hope these individuals continue on in the Ethereum ecosystem and encourage others building out their teams to seek them out,” the statement said.
The foundation did not name the people affected by the layoffs. However, it said these changes are needed to place it on a more “responsive and effective path.”
The restructured Protocol team will serve as a central hub for Ethereum’s core development efforts. The goal is to improve transparency around upgrade timelines, strengthen technical documentation, and support ongoing research.
The non-profit said leadership will play an important role in carrying out its plan, with roles being clearly defined to increase accountability and accelerate progress.
Tim Beiko and Ansgar Dietrichs will head efforts to scale Layer 1. Alex Stokes and Francesco D’Amato will be in charge of Layer 2 scaling, while Barnabé Monnot and Josh Rudolf will lead user experience improvements.
Dankrad Feist has also been appointed as strategic advisor across all three focus areas and will support the project leads in executing their responsibilities.
“We’re hopeful that this new structure will empower our internal teams to focus more clearly and drive key initiatives forward,” said Hsiao-Wei Weng, co-executive director at the Ethereum Foundation, in a post on X.
The announcement also emphasized the Ethereum community’s role. The foundation says it does not aim to replace external contributors but instead wants to uphold high working standards. In line with this, new governance forums are being introduced, and feedback channels are being enhanced to ensure more effective input.
Community Criticism
The reorganization comes in response to ongoing criticism over the foundation’s management and strategic direction. Some members of the Ethereum community have warned for over a year that unresolved technical issues such as scalability, transaction speeds, and developer engagement could pose risks to the network’s leadership in the space.
The non-profit has already made leadership changes to help address these concerns. In March, Hsiao-Wei Weng and Tomasz K. Stańczak were named co-executive directors. These appointments aimed to bring balance between operational and technical leadership.
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Cryptocurrency
Here’s Why Market Flushouts and Whale Moves Could Set the Stage for Bitcoin’s Next Rally

Bitcoin held firm above the $105,000 mark following a weekend dip, as rattled market participants assess whether the pullback signals a temporary breather.
Ongoing shifts in sentiment and trader positioning hint at a broader market recalibration quietly unfolding.
No Panic, No Euphoria
Bitcoin’s derivatives and spot markets are undergoing a structural recalibration. On Binance, long positions continue to be liquidated in significant waves, at times surpassing $40 million per hour, as seen in the Liquidation Delta metric cited by CryptoQuant.
These liquidations highlight heavy pressure on long positions, but notably, there is no corresponding surge in short liquidations. This indicates that while many leveraged long traders are being flushed out, there is little evidence of a counter-move or short squeeze.
Meanwhile, Binance funding rates remain largely neutral as it hovers around zero, which suggests a lack of extreme directional bias in the perpetual futures market. Traders are neither aggressively betting on upside nor downside, indicating caution rather than fear or greed.
“In simpler terms: the derivatives market is not signaling panic, nor euphoria, just cautious recalibration.”
Bitcoin Whales Quietly Accumulate
Whale behavior paints a more optimistic picture. Data from the Whale Screener shows that over $500 million in combined Bitcoin and Ethereum was withdrawn from spot exchanges on June 2nd. Most notably, crypto exchange Bitfinex recorded a single-day outflow of 20,000 BTC, worth over $1.3 billion at current prices. This represented the largest Bitcoin withdrawal from the exchange since August 2019.
Such a significant movement off exchanges often points to long-term holding intentions by large entities, which could ease immediate selling pressure in the market.
Together, these signals – neutral funding, liquidation of overleveraged longs, and strategic accumulation by large holders – depicts a market that is clearing excess leverage and preparing for a potential next leg upward.
Although short-term volatility remains, the broader trend suggests Bitcoin may be in the early stages of a new bullish phase driven by healthier market structure and long-term investor confidence.
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Cryptocurrency
Coinbase Data Breach: 69,000 Users Affected by Indian Outsourcing Leak

Coinbase is under heightened scrutiny following revelations that it may have known as early as January 2025 about a massive breach involving outsourced customer support agents, months before the crypto exchange publicly acknowledged the security lapse.
Sources familiar with the situation disclosed that the breach stemmed from an India-based employee at TaskUs, a US outsourcing firm long contracted by Coinbase.
The individual was reportedly caught covertly photographing her workstation and, along with an alleged accomplice, funneling sensitive customer information to cybercriminals in exchange for bribes. The incident triggered the termination of over 200 TaskUs employees in Indore, in what now appears to be a coordinated criminal infiltration of Coinbase’s support infrastructure.
Delayed Breach Disclosure
Although Coinbase later tied its $400 million loss to “support agents overseas,” the company waited until a May SEC filing, triggered by a ransom demand, to fully acknowledge the scope of the incident.
The breach was not limited to a single rogue actor. According to internal accounts, it was part of a broader campaign that also targeted other BPO firms servicing Coinbase.
The compromised data, which impacted more than 69,000 customers, was reportedly not sufficient to access Coinbase’s internal wallets but did let scammers convincingly impersonate Coinbase agents and socially engineer customers out of their crypto holdings.
While Coinbase says it has reimbursed affected users, questions linger over the company’s timeline and transparency.
TaskUs Accused of Negligence
A class-action lawsuit now accuses TaskUs of negligence, suggesting the BPO provider failed to enforce appropriate data safeguards. TaskUs, however, denied the charge.
Despite their assurances of strong training and security protocols, the incident raises deeper concerns about the vulnerabilities embedded in outsourcing sensitive customer interactions to low-wage, offshore workers. These workers, while cost-efficient, are often underpaid and undertrained. These conditions may have made them vulnerable to external coercion.
Coinbase insists it acted decisively upon discovering the fraud, and cut ties with implicated agents as well as revamping its security measures. Despite this, the timeline points to potential lapses in internal threat detection and risk governance, particularly given that Coinbase’s own filings revealed unauthorized access occurring in “previous months.”
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