The week was a rollercoaster ride in the world of cryptocurrency. From Gary Cardone exiting his XRP position to Elon Musk embracing his meme status with Dogecoin DOGE/USD, the crypto market was buzzing with activity. Here’s a quick round-up of the top stories.
Gary Cardone Dumps XRP
Investment influencer Gary Cardone announced his exit from XRP XRP/USD, selling his 30,000 XRP holdings at $2.71. Cardone cited six guiding principles refined over his 40-year finance career as the reason for his decision. He wished the XRP army luck, though he expressed doubts about their potential wealth.
Dogecoin Millionaire Advocates for Conviction Plays
Glauber Contessoto, also known as SlumDOGE Millionaire, encouraged his followers to invest in ‘conviction plays’ like Pepe amid a broader slump in the meme coin market. He urged his followers to seize the opportunity presented by the ongoing correction to invest in meme coins.
Peter Schiff Expresses Concerns Over Strategy Inc.’s Convertible Debt Offerings
Economist and market commentator Peter Schiff expressed concerns over Strategy Inc. MSTR convertible debt offerings, hinting at potential financial troubles for the Bitcoin treasury company. Schiff highlighted the 4.5% decline in the company's shares despite Bitcoin's gain of 2.5%.
Pepe Bull Questions Traders Selling Frog-Themed Memecoin
A widely followed cryptocurrency trader highlighted the “Cycle of Regret” phenomenon, predicting that 99% of the traders cashing out of the frog-themed meme coin Pepe PEPE/USD won’t buy it back at a discount. The trader suggested that these traders would panic, wait for a better entry, and then freeze when it dips further.
Elon Musk Embraces Dogecoin
Tesla Inc. and SpaceX CEO, Elon Musk embraced his meme status during his recent appearance at CPAC 2025, tying it to his association with Dogecoin. Musk described himself as "living the meme," a reference to his connection with Dogecoin, a cryptocurrency that originated from the internet-famous Doge meme.
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This story was generated using Benzinga Neuro and edited by Ananya Gairola
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