Showing posts with label dogecoin. Show all posts
Showing posts with label dogecoin. Show all posts

Dogecoin ON THE RISE As Elon Musk's Purchase of Twitter Sparks Excitement About Coin's Future...

Elon Musk Twitter Purchase Raises Dogecoin price

Dogecoin, the tenth-largest cryptocurrency with a market cap of $10.5 billion, outperformed any of the other top 50 coins over the last 24 hours, with gains of over 15%. 

For the week, DOGECOIN gained nearly 30% and was only outperformed by Telegram's TON token.

Behind The Rise...

Elon Musk's takeover of Twitter nw seems to be a 'sure thing', as the Tesla and SpaceX CEO walked through the doors of the Twitter offices earlier today. 

From what we can tell, social sentiment is driving the price, with people assuming Twitter will eventually implement the use of Dogecoin, somehow.

Bad Time To Bet Against The DOGE...

Almost $9 million in Dogecoin futures positions were liquidated over the past 24 hours, almost all by people taking short positions.

The increased attention going to DOGE seems to have spread to its main competitor, SHIBA, which posted gains of around 7%. 

It's Easy To Downplay the strength of DOGE - but this 'joke coin' is showing some legitimately strong fundamentals...

A large, seemingly majority of people holding DOGE today appear to be true believers in the coin's long-term potential.

Wallets holding DOGE for more than 1 year are currently at an all-time high of 2.8 million, according to IntoTheBlock. 

Also, wallets that buy and sell within a month are at an all-time low - only 132,000 wallets can be considered 'short-term traders' - this is the lowest since mid 2020.

Recently, Dogecoin was the reason for a new lawsuit that has been filed against Elon Musk...

We spoke with the lawyer representing those suing Elon, while initially reaching out to us first, he refuses to answer some very basic questions on issues vital to the case, read about that here.

Author: Ross Davis
Silicon Valley Newsroom
GCP | Breaking Crypto News

Michael Saylor Still Pushing Bitcoin after Stepping Down as CEO of MicroStrategy - Tells Elon Musk to "BUY MORE"...

Michael Saylor, a well-known Bitcoin advocate who had earlier announced his resignation as MicroStrategy CEO, responded to Elon Musk's ironic tweet about wanting to buy the Manchester United football team coin.


Saylor responded to Musk saying he'd 'prefer' if he bought more Bitcoin.

A better response would be something including reasons to buy Bitcoin, besides pleasing Michael Saylor... but okay.

Musk said in February 2021 that Tesla had purchased BTC for $1.5 billion and had begun taking it as payment for its electric vehicles. However, the payment method was removed in April due to contentious concerns about Bitcoin miners and the effects they were having on the environment.   

In spite of this, Tesla kept all of that Bitcoin until recently. In the second quarter of 2022, the corporation sold off 75% of its Bitcoin, leaving only $218 million in the cryptocurrency's balance. The corporation purchased Bitcoin for $31,620 and sold it for almost $29,000 per unit.

Musk says he hasn't sold any of his privately owned crypto...

Musk did clarify, though, that he was not selling his personal cryptocurrency holdings, only those that belonged to Tesla, the company. 

Musk has mentioned owning Bitcoin, Ethereum, and the coin he says he continues to buy more of, Dogecoin.

Author: Oliver Redding
Seattle Newsdesk  / Breaking Crypto News

Dog Breeders Bringing in MASSIVE Profits for Shiba Inu's (the Actual Real-Life Dog Breed) - After Memecoins Create Huge Demand...

The meme-based cryptocurrency Dogecoin features one as it's official and now-famous mascot - a dog that began as a viral satire, and became an international household name. Then, a second coin that simply shares the 'Shiba Inu' name brought even more attention, as it set records as the cryptocurrency with the fastest rising value. 

Meet the Shiba Inu, a popular Japanese dog that just keeps getting more popular, so much so that breeders are now unable to keep up with the demand for people who want their favorite digital pup as their real-life pet.

This insane demand has sent the price for the Shiba Inu breed SKYROCKETING...

Video Courtesy Of CNBC

Elon Musk Backs Dogecoin Upgrade, Claiming It Could Outperform Other Coins 'Hands Down'...

Musk, apparently browsing Dogecoin chatter on Twitter saw one user say the upgrade "helps secure the network and lower the transaction fees" triggering a response from Musk, saying he sees this as "important".

The thread continued to outline how the dogecoin upgrade will improve the network, saying there's currently only 205 computers "running the newest update" and "more nodes need to upgrade."

In another recent reply to another tweet about Dogecoin getting an upgrade, Musk shared his view on what that upgrade would do "There is merit to doge maximizing base layer transaction rate and minimizing transaction cost with exchanges acting as the de facto secondary layer"

The tweet he was replying to stated that this "will position doge perfectly to become one of the most used currencies in the world."

The end result, according to Musk "Doge speeds up block time 10X, increases block size 10X & drops fee 100X. Then it wins hands down."

Considering Musk once polled the question 'Do you want Tesla to accept Doge?' - it's not out of the realm of possibilities that once a Dogecoin upgrade was complete, this is how he would show his approval.   

Remember, it was Tesla accepting Bitcoin that set off Bitcoin's biggest bull run of this year - what effect would this have on the world's biggest memecoin? 

There's a growing group of people set on turning a coin that started as a joke into a legitimate cryptocurrency - at what point does it cross over, and 'memecoin' is no longer an accurate label? 

Author: Justin Derbek
New York News Desk
Breaking Crypto News

Saturday Night Live: Elon Musk Explains Dogecoin...

This weekend's SNL featured guest host Elon Musk, and dogecoin fans had high expectations.  A tweet from Musk simply saying "The Dogefather" had some assuming this would be an entire skit, with a mafia godfather theme, but revolving around Dogecoin.

While that didn't happen, in the monologue with his mom he said she was getting DOGE as a mothers day gift.  Then the segment above during the newscast spoof  'Weekend Update'.

Video courtesy of NBC

The Dodgecoin KILLER? The Rival Meme Coin That Makes Dogecoin's Bull Run Seem Small...

Shiba token the shiba cryptocurrency

What's the hottest coin of the moment in this massive bull market? Bitcoin? Ethereum? Ripple (XRP)? Litecoin?! Nope.

Oh wait... it's that silly Dogecoin isn't it?

Still, nope.

It's actually bit more ridiculous than that - it's Shiba Inu coin (which is also the name of Doge's breed.

Dogecoin's 462% 14 day gain was impressive, but less-so after seeing Shiba Imu's 3643% explosion...

The creators are just as surprised as anyone, calling it a "Decentralized Meme Token that grew into a vibrant ecosystem" - but they're not taking the success lying down as they continue to expand and push for more growth.

SHIB now hopes to become an artist incubator and a fun, less up-tight crypto community, of which they already have 54,000 members.

The Dodgecoin KILLER?

Here's where it gets interesting - the tokenomics are well... impressive.

First off, there's no team/founder tokens.  The creator and team bought their tokens on the market just like you would have to.

Liquidity put into Uniswap can't be pulled (at least they claim) they've thrown away the keys, making it impossible to touch.

If this wasn't sounding ridiculous enough, don't worry we're still discussing a meme coin. When you hear they've burned 75% of the Shiba token supply by sending them to Ethereum's creator Vitalik, you're reminded this shouldn't be taken too seriously.

The anonymous founder, who goes by 'Ryoshi' explains:
"We are an experiment in decentralized spontaneous community building. The team and admin are all volunteers here and have had to market buy the tokens the same as everybody else, so there is no bucket of tokens or funds to pay to anybody or anything. If you wish to help the project you certainly can and work with us to find a way to make your efforts the most valuable. We believe through the power of collective decentralization we can build something stronger than a centralized team ever could create. ALL HAIL THE SHIBA"

However, Vitalk now has more wealth in SHIB than ETH...

Worthless when he first received them,  the current bull run SHIB is having has made it Vitalik's most valuable asset, for now. See his holdings here.

Vitalik's Shiba Wealth.
Vitalik's Shiba wealth, larger than his ETH holdings.

While I could never recommend this on any serious level, mostly because I imagine both Shiba and Dogecoin will come crashing down 10x faster than their rise.  I will say - it's a fun coin to own, and for the last few days waking up to see actual profits has me starting my day a laugh.

At less then a penny $25 will make you a Shiba millionaire  t the time of writing it's trading at $0.0000019.  I got in at $0.00000002, and became a Shiba billionaire, joining the rest of the token holders in daily wishes of 'please let this become worth 1 cent'. 

SHIB trades exclusively on Uniswap


Author: Mark Pippen
London News Desk / Breaking Crypto News