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Angpau code: B P 8 W 5J NI K6
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German Government Bitcoin Holdings Drop to $887 Million in Recent Selloff.
The German government continued their massive Bitcoin selloff on July 10, 2024, sending nearly 8,853 Bitcoins out of government wallets.
According to data from Arkham Intelligence, this reduces Germany's Bitcoin holdings to 15,110 BTC which is now worth around $887 million.
On the same day, the German government began selling large amounts of Bitcoin, sending them to various crypto exchanges and other wallets.
Data from Arkham Intelligence shows that the German government moved 1,250 BTC to popular crypto exchanges Kraken and Coinbase.
Additionally, they also moved 536,108 BTC to Cumberland DRW, 4,127,281 BTC to Flow Traders, 2,000 BTC to the alleged group B2C2, and 690 BTC to an unknown address.
This massive selling action by the German government has caused BTC prices to fall to their lowest level in four months earlier this week.
However, after the latest sell-off by the German government, Bitcoin price managed to hold its ground and is currently trading up 1.49% at $58,542 with a market capitalization of $1.115 trillion.
Market Response and Institutional Initiatives
Heavy selling and movement of assets to exchanges may dampen market sentiment, but some argue that the price drops are excessive. This sentiment was supported by increased inflows into the spot BTC ETF.
Will this sale have an upward effect on the top crypto? like :$ETH $BNB $SOL
#Menuju7TahunBinance
#Binance
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German Government Bitcoin Holdings Drop to $887 Million in Recent Selloff.
The German government continued their massive Bitcoin selloff on July 10, 2024, sending nearly 8,853 Bitcoins out of government wallets.
According to data from Arkham Intelligence, this reduces Germany's Bitcoin holdings to 15,110 BTC which is now worth around $887 million.
On the same day, the German government began selling large amounts of Bitcoin, sending them to various crypto exchanges and other wallets.
Data from Arkham Intelligence shows that the German government moved 1,250 BTC to popular crypto exchanges Kraken and Coinbase.
Additionally, they also moved 536,108 BTC to Cumberland DRW, 4,127,281 BTC to Flow Traders, 2,000 BTC to the alleged group B2C2, and 690 BTC to an unknown address.
This massive selling action by the German government has caused BTC prices to fall to their lowest level in four months earlier this week.
However, after the latest sell-off by the German government, Bitcoin price managed to hold its ground and is currently trading up 1.49% at $58,542 with a market capitalization of $1.115 trillion.
Market Response and Institutional Initiatives
Heavy selling and movement of assets to exchanges may dampen market sentiment, but some argue that the price drops are excessive. This sentiment was supported by increased inflows into the spot BTC ETF.
Will this sale have an upward effect on the top crypto? like :$ETH $BNB $SOL
#Menuju7TahunBinance
#Binance
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XRP price could break out as open interest increases
Angpau Code: B P0SL2P7 Q K (Delete Space to claim angpau)
Despite the potential for a breakthrough, the price of XRP remains tied to developments in lawsuits between the SEC and Ripple.
Investors are increasingly betting on a breakthrough in the price of the XRP token. Could XRP be ready to see more upside momentum?
Traders are increasingly betting on an increase in the price of XRP
More traders are betting on an increase in the price of XRP ( 0.49), as reflected by a spike in open interest (OI), according to market analysis by verified CryptoQuant writer Woominkyu.
He wrote in a June 18 research report :
“This trend shows that when open interest increases along with price, investors open more positions in the expectation of an increase in the price of XRP. This increased interest suggests that more trading activity is occurring with XRP.”
$XRP
Angpau Code: B P0SL2P7 Q K (Delete Space to claim angpau)
Despite the potential for a breakthrough, the price of XRP remains tied to developments in lawsuits between the SEC and Ripple.
Investors are increasingly betting on a breakthrough in the price of the XRP token. Could XRP be ready to see more upside momentum?
Traders are increasingly betting on an increase in the price of XRP
More traders are betting on an increase in the price of XRP ( 0.49), as reflected by a spike in open interest (OI), according to market analysis by verified CryptoQuant writer Woominkyu.
He wrote in a June 18 research report :
“This trend shows that when open interest increases along with price, investors open more positions in the expectation of an increase in the price of XRP. This increased interest suggests that more trading activity is occurring with XRP.”
$XRP
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Aptos (APT) & StarkNet (STRK) Uncertain.
$APT $STRK
Angpau: BPUOMMTCOL
This week there are two protocols that will perform token unlocking, namely Aptos (APT) and StarkNet (STRK). APT will unlock 11.3 million tokens or around 2.58% of total circulation on June 12, 2024. This amount is equivalent to $96 million that will be unlocked for investors and the Aptos team.
Meanwhile, STRK will unlock 64 million tokens or around 4.92% of the total circulation on June 15 2024. With STRK's current valuation, namely $1.14, the token unlock is equivalent to $72.96 million.
The additional supply of tokens could trigger volatility in APT and STRK prices in the short term. Moreover, the tokens are released to the development team and investors who can immediately sell the tokens. However, if it turns out that the emerging demand can compensate or the selling pressure is not significant, it could be that APT and STRK prices will stagnate or strengthen slightly.
$APT $STRK
Angpau: BPUOMMTCOL
This week there are two protocols that will perform token unlocking, namely Aptos (APT) and StarkNet (STRK). APT will unlock 11.3 million tokens or around 2.58% of total circulation on June 12, 2024. This amount is equivalent to $96 million that will be unlocked for investors and the Aptos team.
Meanwhile, STRK will unlock 64 million tokens or around 4.92% of the total circulation on June 15 2024. With STRK's current valuation, namely $1.14, the token unlock is equivalent to $72.96 million.
The additional supply of tokens could trigger volatility in APT and STRK prices in the short term. Moreover, the tokens are released to the development team and investors who can immediately sell the tokens. However, if it turns out that the emerging demand can compensate or the selling pressure is not significant, it could be that APT and STRK prices will stagnate or strengthen slightly.
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Token #Binance
The importance of analysis before taking action!!
Whatever the type of token, if you cannot analyze it correctly then be prepared that you will face real losses, otherwise you will become a billionaire.
Gratis
The importance of analysis before taking action!!
Whatever the type of token, if you cannot analyze it correctly then be prepared that you will face real losses, otherwise you will become a billionaire.
Gratis
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ANGPAU CODE: BPUOMMTCOL
$SHIB
Shiba Inu (SHIB) Price Prediction 2024-2030: Will SHIB Price Reach US$0.0001 Soon?
Before 2021, many people did not know that Shiba Inu existed. But the breakout that same year not only brought the project into the limelight, it also made many people millionaires. However, SHIB has slowed down in doing that over the past three years, and project developers are trying to move it away from being just a meme coin.
Despite this, the Shiba Inu community continues to grow stronger. Thus, there are predictions that the token will perform well again. In this piece, Coin Edition looks at the potential of SHIB and its price predictions for 2024 to 2030.
Shiba Inu (SHIB) Price Analysis
SHIB has failed to impress for most of the period since falling from its all-time high. However, the development activities taken by the team revealed that it could be targeting something better. If this is the case, the token price may attempt to climb higher than its all-time high. But is this possible? Coin Edition looks at price predictions from 2024 to 2030.
Shiba Inu (SHIB) Price Analysis – Bollinger Bands
On the 4-hour chart, Bollinger Bands (BB) have started to develop, meaning that SHIB could be gearing up for significant price fluctuations. Also, BB's lower band has touched SHIB at $0.000022, indicating that the token is oversold.
Shiba Inu (SHIB) Price Analysis
DISCLAIMER:
The information provided in this article is for informational purposes only and should not be considered financial advice. Cryptocurrency investments involve a high degree of risk, and market conditions can change quickly. This article is not a recommendation or endorsement of
#Binance
Will Shiba Inu price rise or fall?
$SHIB
Shiba Inu (SHIB) Price Prediction 2024-2030: Will SHIB Price Reach US$0.0001 Soon?
Before 2021, many people did not know that Shiba Inu existed. But the breakout that same year not only brought the project into the limelight, it also made many people millionaires. However, SHIB has slowed down in doing that over the past three years, and project developers are trying to move it away from being just a meme coin.
Despite this, the Shiba Inu community continues to grow stronger. Thus, there are predictions that the token will perform well again. In this piece, Coin Edition looks at the potential of SHIB and its price predictions for 2024 to 2030.
Shiba Inu (SHIB) Price Analysis
SHIB has failed to impress for most of the period since falling from its all-time high. However, the development activities taken by the team revealed that it could be targeting something better. If this is the case, the token price may attempt to climb higher than its all-time high. But is this possible? Coin Edition looks at price predictions from 2024 to 2030.
Shiba Inu (SHIB) Price Analysis – Bollinger Bands
On the 4-hour chart, Bollinger Bands (BB) have started to develop, meaning that SHIB could be gearing up for significant price fluctuations. Also, BB's lower band has touched SHIB at $0.000022, indicating that the token is oversold.
Shiba Inu (SHIB) Price Analysis
DISCLAIMER:
The information provided in this article is for informational purposes only and should not be considered financial advice. Cryptocurrency investments involve a high degree of risk, and market conditions can change quickly. This article is not a recommendation or endorsement of
#Binance
Will Shiba Inu price rise or fall?
Naik
100%
Turun
0%
1 votes • Voting closed
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$LUNC
Will the price of LUCC skyrocket after Terra Luna Classic Core Developer Submits a Big Proposal?
Terra Luna Classic developer Genuine Labs is proposing to become the official core developer of the#TerraClassicchain. The development group believed that the chain needed a team to review code, merge PRs, and maintain and this became important after JL1TF was disbanded.
While the community appreciates the development team's efforts, some popular members have raised concerns about the team's communication and availability issues.
Native Labs Proposes To Manage Terra Luna Classic Repository
Genuine Labs, a team of three developers, submitted a proposal to become the management team of the classic/core terra repository. The core repository is currently maintained by different communities and developer groups.
“Since the JL1TF team was disbanded, the need for a team to help with code reviews, PR merges, and chain maintenance has become increasingly important,” said a senior developer known as the ‘expert’.
Copy the code below for your free coins!!
Will the price of LUCC skyrocket after Terra Luna Classic Core Developer Submits a Big Proposal?
Terra Luna Classic developer Genuine Labs is proposing to become the official core developer of the#TerraClassicchain. The development group believed that the chain needed a team to review code, merge PRs, and maintain and this became important after JL1TF was disbanded.
While the community appreciates the development team's efforts, some popular members have raised concerns about the team's communication and availability issues.
Native Labs Proposes To Manage Terra Luna Classic Repository
Genuine Labs, a team of three developers, submitted a proposal to become the management team of the classic/core terra repository. The core repository is currently maintained by different communities and developer groups.
“Since the JL1TF team was disbanded, the need for a team to help with code reviews, PR merges, and chain maintenance has become increasingly important,” said a senior developer known as the ‘expert’.
Copy the code below for your free coins!!
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$SHIB
What is Shiba Inu? (SHIB)
Shiba Inu (SHIB) is a meme token that started as a joke currency and has now transformed into a decentralized ecosystem. At its initial launch, 50% of its supply was allocated to Vitalik Buterin's Ethereum wallet.
Therefore, Vitalik went on to donate 10% of the SHIB he saved to efforts to deal with COVID-19 in India and the remaining 40% was burned forever. The donation was worth $1 at that time, which made it one of the largest donations ever in the world.
What is the Shiba Inu community doing right now? The Shiba Inu team launched a decentralized exchange called Shibaswap with 2 new tokens, LEASH and BONE. LEASH is a rare supply token used to offer incentives on Shibaswap. BONE is a governance token for winners to vote on proposals in Doggy DAO.
What is Shiba Inu? (SHIB)
Shiba Inu (SHIB) is a meme token that started as a joke currency and has now transformed into a decentralized ecosystem. At its initial launch, 50% of its supply was allocated to Vitalik Buterin's Ethereum wallet.
Therefore, Vitalik went on to donate 10% of the SHIB he saved to efforts to deal with COVID-19 in India and the remaining 40% was burned forever. The donation was worth $1 at that time, which made it one of the largest donations ever in the world.
What is the Shiba Inu community doing right now? The Shiba Inu team launched a decentralized exchange called Shibaswap with 2 new tokens, LEASH and BONE. LEASH is a rare supply token used to offer incentives on Shibaswap. BONE is a governance token for winners to vote on proposals in Doggy DAO.
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Who is Satoshi, the creator of Bitcoin?
In recent years, Bitcoin.com News has released a series of articles entitled the Satoshi “Many Facts” series. These articles present various pieces of evidence, pointing to the possible identity of Bitcoin's mysterious creator, Satoshi Nakamoto.
Among the individuals included on the list are Paul Le Roux, Sergey Nazarov, Dorian Nakamoto, and Hal Finney, among others.
Additionally, the series has also featured stories contemplating the possibility that the inventor of Bitcoin may never appear again.
Although most of this article highlights individual figures, there is strong evidence to suggest that Satoshi Nakamoto may not have been a single entity, but rather a collective.
Early evidence pointing to the Satoshis as a collective rather than an individual is the use of “we” in the Bitcoin whitepaper.
Conspicuously, Nakamoto uses both “we” and “I,” hinting at the possibility of a team operating under a single pseudonym. Other evidence of the whitepaper includes its perfect English text.
Is it possible that the creator of BTC is not just Satoshi?
$BTC
#Binance
In recent years, Bitcoin.com News has released a series of articles entitled the Satoshi “Many Facts” series. These articles present various pieces of evidence, pointing to the possible identity of Bitcoin's mysterious creator, Satoshi Nakamoto.
Among the individuals included on the list are Paul Le Roux, Sergey Nazarov, Dorian Nakamoto, and Hal Finney, among others.
Additionally, the series has also featured stories contemplating the possibility that the inventor of Bitcoin may never appear again.
Although most of this article highlights individual figures, there is strong evidence to suggest that Satoshi Nakamoto may not have been a single entity, but rather a collective.
Early evidence pointing to the Satoshis as a collective rather than an individual is the use of “we” in the Bitcoin whitepaper.
Conspicuously, Nakamoto uses both “we” and “I,” hinting at the possibility of a team operating under a single pseudonym. Other evidence of the whitepaper includes its perfect English text.
Is it possible that the creator of BTC is not just Satoshi?
$BTC
#Binance
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#Binance $VGX
VGX Hit $12.5 in 2018. Will the price come back?
Voyager Token is a crypto token from cryptocurrency broker Voyager Digital that provides investors with access to crypto asset trading. Voyager was built to serve retail and institutional investors with instant solutions for trading crypto assets.
The broker's native token, Voyager Token (VGX Coin), is used to reward users in the Voyager ecosystem. VGX also attracted interest when hosted on the Voyager app, offering cashback rewards, and other exclusive services to Voyager users.
When you look at the yearly chart, sometimes it looks like a straight rise without reversal but this is not the case, most coins that do this over several days or even weeks can be tracked on the chart. The panic that coins give 25-50% and vice versa is something you need to consider. You just have to set up some selling points and if you sell a little and come back, that's just an additional opportunity to buy back more instead of selling. For me, COS and VGX are still in an uptrend, they are just looking for support to bounce usually higher. I sold 1/4 of VGX at +25% and I waited to see if I called it back with an amount equal to the sale which increased the amount in my wallet and I would set that amount to sell again and wait for the next move. This is real trading
Every investment decision is in the hands of the reader. Study and analyze before buying and selling Crypto.
#Binance $VGX
Angpau code: BP43HDZUCD
VGX Hit $12.5 in 2018. Will the price come back?
Voyager Token is a crypto token from cryptocurrency broker Voyager Digital that provides investors with access to crypto asset trading. Voyager was built to serve retail and institutional investors with instant solutions for trading crypto assets.
The broker's native token, Voyager Token (VGX Coin), is used to reward users in the Voyager ecosystem. VGX also attracted interest when hosted on the Voyager app, offering cashback rewards, and other exclusive services to Voyager users.
When you look at the yearly chart, sometimes it looks like a straight rise without reversal but this is not the case, most coins that do this over several days or even weeks can be tracked on the chart. The panic that coins give 25-50% and vice versa is something you need to consider. You just have to set up some selling points and if you sell a little and come back, that's just an additional opportunity to buy back more instead of selling. For me, COS and VGX are still in an uptrend, they are just looking for support to bounce usually higher. I sold 1/4 of VGX at +25% and I waited to see if I called it back with an amount equal to the sale which increased the amount in my wallet and I would set that amount to sell again and wait for the next move. This is real trading
Every investment decision is in the hands of the reader. Study and analyze before buying and selling Crypto.
#Binance $VGX
Angpau code: BP43HDZUCD
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$ETH
Will ETH be like BTC?
Ethereum's recent bullish surge is slowing, consolidating around $3,770 to $3,900. Despite initial excitement over the ETF's approval, Ethereum's rally has subsided, facing resistance of nearly $4,000. Market indicators show mixed sentiment, indicating potential short-term consolidation. Technical analysis shows major support at $3,770, with neutral momentum reflected in the RSI.
Will ETH Touch US$5000 in June 2024.?
Ethereum Price Prediction: Supporting countless projects in decentralized finance and the booming NFT scene, this asset is understandably catching the attention of traders and has a strong presence in the minds of crypto enthusiasts everywhere. $ETH #Binance
Will ETH be like BTC?
Ethereum's recent bullish surge is slowing, consolidating around $3,770 to $3,900. Despite initial excitement over the ETF's approval, Ethereum's rally has subsided, facing resistance of nearly $4,000. Market indicators show mixed sentiment, indicating potential short-term consolidation. Technical analysis shows major support at $3,770, with neutral momentum reflected in the RSI.
Will ETH Touch US$5000 in June 2024.?
Ethereum Price Prediction: Supporting countless projects in decentralized finance and the booming NFT scene, this asset is understandably catching the attention of traders and has a strong presence in the minds of crypto enthusiasts everywhere. $ETH #Binance
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How Arbitrum Works
The technology behind Arbitrum is optimistic rollups. Rollup is a type of data compression technique in blockchain transactions. This technique involves ‘rolling up’ a collection of transactions into a single transaction. The benefit is that the blockchain only needs to process one transaction i.e. the ‘rolled up’ transaction and does not need to confirm each individual transaction within the rollup. This can save time because the blockchain only needs to confirm one transaction.
Optimistic rollup is a special technique for rolling transactions off-chain. To speed up the process, optimistic rollup assumes that the transactions contained in the rollup are valid.
Arbitrum's optimistic rollup is completed on top of Arbitrum's rollup chain. Arbitrum collects a collection of transactions, settles them on the Arbitrum rollup chain, and then feeds the transaction data back into the Ethereum blockchain.
Arbitrum says that every transaction confirmed through this process is stamped with an “AnyTrust Guarantee“, which is when all validators agree on the validity of the transactions contained in a block. Validators stake ETH before they can confirm transactions; by staking ETH, they are incentivized to act honestly.
$ARB
The technology behind Arbitrum is optimistic rollups. Rollup is a type of data compression technique in blockchain transactions. This technique involves ‘rolling up’ a collection of transactions into a single transaction. The benefit is that the blockchain only needs to process one transaction i.e. the ‘rolled up’ transaction and does not need to confirm each individual transaction within the rollup. This can save time because the blockchain only needs to confirm one transaction.
Optimistic rollup is a special technique for rolling transactions off-chain. To speed up the process, optimistic rollup assumes that the transactions contained in the rollup are valid.
Arbitrum's optimistic rollup is completed on top of Arbitrum's rollup chain. Arbitrum collects a collection of transactions, settles them on the Arbitrum rollup chain, and then feeds the transaction data back into the Ethereum blockchain.
Arbitrum says that every transaction confirmed through this process is stamped with an “AnyTrust Guarantee“, which is when all validators agree on the validity of the transactions contained in a block. Validators stake ETH before they can confirm transactions; by staking ETH, they are incentivized to act honestly.
$ARB
Naik
73%
Turun
27%
11 votes • Voting closed
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Get to know LINK.
Chainlink (LINK) is a decentralized oracle network that aims to connect smart contracts with data from the real world. Chainlink was developed by Sergey Nazarov, with Steve Ellis as another co-founder.
Reporting from Coinmarketcap, Friday (6/5/2022), Chainlink's crypto token, namely LINK or Chainlink Coin, conducted an Initial Coin Offering (ICO) in September 2017, raising USD 32 million or around IDR 463.3 billion (assuming an exchange rate of IDR 14,479 per dollar US), with a total supply of 1 billion LINK tokens.
LINK, as the native cryptocurrency of decentralized oracle network Chainlink, is used to pay computer node operators. Because the Chainlink network has a reputation system, node providers holding large amounts of LINK can be rewarded with larger contracts, while failure to convey accurate information results in token depletion.
$LINK @Crypto Intelligence
Chainlink (LINK) is a decentralized oracle network that aims to connect smart contracts with data from the real world. Chainlink was developed by Sergey Nazarov, with Steve Ellis as another co-founder.
Reporting from Coinmarketcap, Friday (6/5/2022), Chainlink's crypto token, namely LINK or Chainlink Coin, conducted an Initial Coin Offering (ICO) in September 2017, raising USD 32 million or around IDR 463.3 billion (assuming an exchange rate of IDR 14,479 per dollar US), with a total supply of 1 billion LINK tokens.
LINK, as the native cryptocurrency of decentralized oracle network Chainlink, is used to pay computer node operators. Because the Chainlink network has a reputation system, node providers holding large amounts of LINK can be rewarded with larger contracts, while failure to convey accurate information results in token depletion.
$LINK @Crypto Intelligence
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boseList of the Best Solana Meme Coins The collection of high potential Solana meme tokens includes a mix of old and new projects:
1. Sealana (SEAL) : One of the newest Solana meme coins, raising over $120k after launch.
2. Smog (SMOG) : Popular multi-chain meme coin with 490 million token airdrops.
3. Lucky Boo (BOO) : A dog-themed Solana meme coin that offers huge airdrop rewards.
4. Myro (MYRO) : Top Solana meme coin with utility that has a market cap of over $100 million.
5. Fronk (FRONK) : A deflationary project with an aggressive burn mechanism.
6. Dogwifhat (WIF) : Leading meme coin with a market cap of over $500 million.
7. Bonk (BONK) : The most successful Solana-based meme coin to date, generating returns of over 12,000% in 2023.
8. SHIBONK (SBONK) : Trending Solana meme coin, trading above listing price.
Top Solana Meme Coins: Complete Analysis To better understand the potential of these meme coins, we have provided an in-depth analysis of each of them. This will help you decide whether they deserve a place in your investment portfolio.1. Sealana – Top Solana Based Meme Coin to Buy Now
$SOL #solanainfo #Binance
1. Sealana (SEAL) : One of the newest Solana meme coins, raising over $120k after launch.
2. Smog (SMOG) : Popular multi-chain meme coin with 490 million token airdrops.
3. Lucky Boo (BOO) : A dog-themed Solana meme coin that offers huge airdrop rewards.
4. Myro (MYRO) : Top Solana meme coin with utility that has a market cap of over $100 million.
5. Fronk (FRONK) : A deflationary project with an aggressive burn mechanism.
6. Dogwifhat (WIF) : Leading meme coin with a market cap of over $500 million.
7. Bonk (BONK) : The most successful Solana-based meme coin to date, generating returns of over 12,000% in 2023.
8. SHIBONK (SBONK) : Trending Solana meme coin, trading above listing price.
Top Solana Meme Coins: Complete Analysis To better understand the potential of these meme coins, we have provided an in-depth analysis of each of them. This will help you decide whether they deserve a place in your investment portfolio.1. Sealana – Top Solana Based Meme Coin to Buy Now
$SOL #solanainfo #Binance
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Angpau Claim Code BPOG11ZLQO
One of the key factors behind the increase in the value of the Shiba Inu coin, at the beginning of October 2021, was a tweet from Tesla CEO Elon Musk on his Twitter account. Apparently, a tweet of a logo image of a puppy named Floki on October 7, triggered an increase in the price of Shiba Inu coins a few hours after it was uploaded.
Previously on September 15 2021, when Elon Musk tweeted 'Floki has arrived' with a picture of his new dog, the value of the Shiba Inu currency soared. In the days following Elon Musk's tweet, the value of the Shiba Inu coin experienced a jump of up to 1,000 percent.
Not long ago, Tesla and SpaceX boss Elon Musk tweeted a picture of a Shiba Inu puppy. In the tweet, he also mentioned 'Floki Frunkpuppy'.
It didn't take long for the tweet to be immediately responded to by various cryptocurrencies with puppy logos. For example, the accounts @BabyDogeCoin, @MiniDogeToken, to @RealFlokiInu.
One of the key factors behind the increase in the value of the Shiba Inu coin, at the beginning of October 2021, was a tweet from Tesla CEO Elon Musk on his Twitter account. Apparently, a tweet of a logo image of a puppy named Floki on October 7, triggered an increase in the price of Shiba Inu coins a few hours after it was uploaded.
Previously on September 15 2021, when Elon Musk tweeted 'Floki has arrived' with a picture of his new dog, the value of the Shiba Inu currency soared. In the days following Elon Musk's tweet, the value of the Shiba Inu coin experienced a jump of up to 1,000 percent.
Not long ago, Tesla and SpaceX boss Elon Musk tweeted a picture of a Shiba Inu puppy. In the tweet, he also mentioned 'Floki Frunkpuppy'.
It didn't take long for the tweet to be immediately responded to by various cryptocurrencies with puppy logos. For example, the accounts @BabyDogeCoin, @MiniDogeToken, to @RealFlokiInu.
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Should You Invest in Meme Coins?
For every Dogecoin, there are countless other meme coins that are leaving retail investors underwater. Even Dogecoin has dropped 91% from its all-time high, while Shiba Inu is down 84%. Both still have market capitalizations of $8.7 billion and $6.5 billion, respectively.
Unlike Bitcoin, which is limited to 21 million coins, meme coins often have a high or unlimited supply. There are over 135.5 billion coins in circulation for DOGE, and every minute a successful miner receives around 10,000 DOGE, worth around $660. This is a huge difference in issuance volume compared to Bitcoin, where about 6.25 BTC—worth about $143,000—is mined every 10 minutes. Meme coins also typically do not have mechanisms like “burning” that remove coins from circulation, so the number of coins in circulation continues to increase.
Shiba Inu, for example, has over 590 trillion coins in circulation at the time of writing this article. Shiba Inu and Dogecoin are considered success stories among meme coins. The fact is that most meme coins eventually disappear. “No one remembers the names of Dogecoin's peers from 2013-2014, which now trade nowhere and cost untold amounts of speculators' money,” said Jonathan Zeppettini, head of international operations at Decred.
$BTC $DOGE
For every Dogecoin, there are countless other meme coins that are leaving retail investors underwater. Even Dogecoin has dropped 91% from its all-time high, while Shiba Inu is down 84%. Both still have market capitalizations of $8.7 billion and $6.5 billion, respectively.
Unlike Bitcoin, which is limited to 21 million coins, meme coins often have a high or unlimited supply. There are over 135.5 billion coins in circulation for DOGE, and every minute a successful miner receives around 10,000 DOGE, worth around $660. This is a huge difference in issuance volume compared to Bitcoin, where about 6.25 BTC—worth about $143,000—is mined every 10 minutes. Meme coins also typically do not have mechanisms like “burning” that remove coins from circulation, so the number of coins in circulation continues to increase.
Shiba Inu, for example, has over 590 trillion coins in circulation at the time of writing this article. Shiba Inu and Dogecoin are considered success stories among meme coins. The fact is that most meme coins eventually disappear. “No one remembers the names of Dogecoin's peers from 2013-2014, which now trade nowhere and cost untold amounts of speculators' money,” said Jonathan Zeppettini, head of international operations at Decred.
$BTC $DOGE
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Bitcoin and a series of other cryptocurrencies have experienced quite significant strengthening since Tuesday, May 21 2024. The price of Bitcoin touched USD 71,259 or the equivalent of IDR 1.14 billion (assuming an exchange rate of IDR 16,004 per US dollar).
This figure is equivalent to 51% higher year-to-date and close to Bitcoin's All-Time-High (ATH) in the previous period of USD 73,000. So what is the cause of the increase in the crypto market and what is the potential for Bitcoin price movements in the future?
Crypto Analyst Reku, Fahmi Almuttaqin said the increase was caused by several factors, including the adoption of institutional investors, developments in US inflation, as well as optimism regarding the approval of an Ethereum spot ETF.
Apart from that, Bitcoin itself is already on a bullish track, where its main rally historically usually starts between 1-6 months after the halving.
"Famous institutions ranging from Morgan Stanley, Millennium Management, to the pension fund management institution of one of the states in America, Wisconsin, have started purchasing Bitcoin through the spot Bitcoin ETF instrument," said Fahmi. Wednesday (22/5/2024).
Fahmi added that news regarding the institutional adoption, which has been going on for the last month or two, began to become known to the public in the last week or two through report documents submitted to the SEC.
Apart from that, last week's US Consumer Price Index (CPI) data which indicated easing inflationary pressures also provided more calm for market players. Efforts to reduce inflation are on the right track.
This data also increases investor optimism regarding the possibility that inflation can fall without putting significant pressure on economic growth. "One of the most dynamic factors that is influencing market movements this time is the shifting outlook regarding the possibility of approval for the Ethereum Spot ETF.
Rally Potential Continues
Fahmi said that in the future, the crypto market has the potential to rally if a number of conditions occur.
$BTC
This figure is equivalent to 51% higher year-to-date and close to Bitcoin's All-Time-High (ATH) in the previous period of USD 73,000. So what is the cause of the increase in the crypto market and what is the potential for Bitcoin price movements in the future?
Crypto Analyst Reku, Fahmi Almuttaqin said the increase was caused by several factors, including the adoption of institutional investors, developments in US inflation, as well as optimism regarding the approval of an Ethereum spot ETF.
Apart from that, Bitcoin itself is already on a bullish track, where its main rally historically usually starts between 1-6 months after the halving.
"Famous institutions ranging from Morgan Stanley, Millennium Management, to the pension fund management institution of one of the states in America, Wisconsin, have started purchasing Bitcoin through the spot Bitcoin ETF instrument," said Fahmi. Wednesday (22/5/2024).
Fahmi added that news regarding the institutional adoption, which has been going on for the last month or two, began to become known to the public in the last week or two through report documents submitted to the SEC.
Apart from that, last week's US Consumer Price Index (CPI) data which indicated easing inflationary pressures also provided more calm for market players. Efforts to reduce inflation are on the right track.
This data also increases investor optimism regarding the possibility that inflation can fall without putting significant pressure on economic growth. "One of the most dynamic factors that is influencing market movements this time is the shifting outlook regarding the possibility of approval for the Ethereum Spot ETF.
Rally Potential Continues
Fahmi said that in the future, the crypto market has the potential to rally if a number of conditions occur.
$BTC
