Good Morning, Digital Hodlers,
This is the Ghostfi™ newsletter, our Prime Directive is to keep you updated on what’s important in the Crypto Space.

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Here’s what we have for you today:

• Elon Musk's replacement of Twitter's logo with a Shiba Inu image caused Dogecoin to spike 25%

• A trader earned $1.1 million in just half an hour during Twitter's Dogecoin rally

• Ethereum (ETH) to Revolutionize Crypto, According to Bitwise CIO Matt Hougan, Who Also Predicts Bull Market

• Will XRP leave its Haters In The Dust?

• Rookies’ Corner

Elon Musk's replacement of Twitter's logo with a Shiba Inu image caused Dogecoin to spike 25%

Dogecoin (DOGE) went up 25% after Elon Musk replaced Twitter's boring blue bird logo with a dog-themed image. It's not like we all saw this coming from a mile away. And the DOGE community is excited! I mean, who wouldn't be thrilled about a meme cryptocurrency finally being taken seriously?

But hold your goat, there's more! Dogecoin's price even spiked to an eighteen-week high of $0.1045! That's right, folks, a whole 10 cents! And its market cap increased by 27%, putting it in seventh position ahead of MATIC and Cardano (ADA). And don't forget about all the short traders who got caught with their pants down, losing over $27 million in the past 24 hours. Funny, not Funny!

Of course, this was all foreshadowed by Elon Musk's promise to replace Twitter's logo with a Doge-inspired image, which he made to the chairman of WallStreetBets last March. And he kept his promise!

And the fun doesn't stop there. There's been an observed surge in the on-chain activity of Dogecoin, with millions of dollars worth of DOGE being transferred between wallets in multiple transactions in the past 48 hours.

But let's not forget about the ongoing high-stakes lawsuit against Elon Musk for promoting Dogecoin in a manner resembling a pyramid scheme. His lawyers are confident they can get the case thrown out, though, because apparently, there's nothing wrong with tweeting support for a meme cryptocurrency. I mean, why not, right?

Anyway, at press time, DOGE was trading at $0.1012 after a whopping 26% increase in the past 48 hours. Who knows what tomorrow will bring?

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A trader earned $1.1 million in just half an hour during Twitter's Dogecoin rally

Looks like Tree of Alpha found a money tree in Dogecoin's backyard! The trader made over $1 million in 30 minutes by buying $8 million worth of Dogecoin, which was triggered by a Twitter logo change. Tree of Alpha got out quick, not wanting to be caught in a late April Fool's joke by Elon Musk. He thinks Twitter could start accepting Dogecoin and advises traders to make trades with a higher chance of going up than down. I guess he's just branching out in the world of crypto trading!

Ethereum (ETH) to Revolutionize Crypto, According to Bitwise CIO Matt Hougan, Who Also Predicts Bull Market

The big dog at Bitwise Asset Management, Matt Hougan, is feeling the bark of the bull market, and he's predicting some serious tail-wagging in the world of Ethereum. He says that planned upgrades will cause the ecosystem to flourish like never before, with transaction costs so low, you'll practically be able to buy and sell crypto for dog biscuits!

Hougan is barking with excitement about Ethereum Improvement Proposal 4844 (EIP-4844), which will lower transaction costs to practically nothing. He thinks people don't understand just how important this is. If Ethereum executes on its roadmap, we're talking about transaction costs so low, they'll make a Chihuahua look big! And the possibilities that will open up with these low costs are huge. It's a game-changer, folks!

Hougan also thinks that the crypto markets have entered a bull market cycle, but investors are only just starting to wag their tails with excitement. He's thrilled to see animal spirits returning to crypto and predicts that the next three years are gonna be more thrilling than a game of fetch with a golden retriever. So, grab your leashes, folks, because Ethereum is trading for $1,863 at the time of writing, up 3.5% in the past 24 hours. Let's go for a walk on the wild side!

Will XRP leave its haters in the dust?

Hell yes! XRP, the sixth-largest cryptocurrency, has risen by 50% this year due to a "surge" in crypto prices, technical buying, and hopes that Ripple will win its lawsuit against the SEC. Even though it's down 13% from its March peaks, XRP bulls are confident that it will rise back toward $0.91. The SEC lawsuit is almost over, and traders are hoping that the CFTC's claim that XRP is a commodity will save Ripple and reduce regulatory risk. Investors should diversify their holdings and may want to risk investing in presales of new crypto projects. What could possibly go wrong?

Rookies’ Corner

Definitions

AIRDROP: A token distribution method used to send cryptocurrency or tokens to wallet addresses. Sometimes airdrops are used for marketing purposes in exchange for simple tasks like reshares, referrals, or app downloads.

BLOCK: Think of a blockchain as consisting of a ledger that is constantly updated, and those changes synced between any number of different nodes (in fact, “distributed ledger technology” is another phrase used to describe it).

After a certain number of transactions have been added to the ledger and consensus has been reached among the nodes that the transactions are valid, they are then cryptographically locked into a “block” and officially recorded. This “block” forms the basis for the next one; in this way, they are all linked together in a chain, hence–blockchain.

Website Tool of the Week

Phantom Press

Popular Crypto Strategist Issues Bitcoin Alert, Says BTC Forming Bearish Reversal Structure A closely followed analyst is warning Bitcoin (BTC) investors that the king crypto could be days away from a sell-off event. Pseudonymous analyst Rekt tells his 342,300 Twitter followers that Bitcoin still respects its diagonal resistance and could witness bearish price action in the short term. According to Rekt, the inability of Bitcoin bulls […]

Tron (TRX) Founder Justin Sun Wants To Buy Over $1,144,000,000 in Bitcoin Held by US Government 
Tron (TRX) Founder Justin Sun says he wants to buy the more than $1.1 billion in Bitcoin (BTC) that the US government plans to sell, possibly as early as this month. Sun tells his 3.4 million Twitter followers that he is offering to buy the government-seized Bitcoin at a 10% discount to offset the impacts […]

Institutional Investors Bet on $BTC and $XRP Investment Products as Trading Volumes Plunge
Institutional investors have kept on betting on investment products offering them exposure to the flagship cryptocurrency Bitcoin ($BTC) and to $XRP over the past week, during a time in which trading volumes in these products fell by one-third compared to the prior week. According to CoinShares’ latest Digital Asset Fund Flows report, digital asset investment […]

DOGE and ARB Are Best for Altcoin Season, Thinks Prominent Crypto Trader 
Prominent crypto trader and founder of venture capital firm Mechanism Cap, Andrew Kang, has not stayed away from active discussion in the crypto community on the topic of a possible altcoin season and has given his views on the matter.

Ghostly Memes

AI-Generated Elon Musk Image of the Week

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.