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Shiba Inu surges 35% after Coinbase adds support for the meme token

Therefore, if The Merge goes smoothly, Lido could see even more stakers flood into their system, which should send its governance token skyrocketing. LDO has already pumped more than 106 percent over the last three months, going from $1.0008 at the start of July to $2.07 at the time of writing. The thing working against Shiba Inu is that its success so far has been based on hype, not on value.

Even with how much the price has gone down, it’s still overvalued. At the time of writing, its market cap sits at about $14.7 billion, despite having no competitive advantages over other cryptocurrencies. Bitcoin accounts for nearly $600 billion of that value, followed by ethereum, with a $285 billion market cap.

“With the price at $45,000 on Tuesday morning, BTC is trading above the 50-day moving average just above the mid-January pivot area. Lee was also director of engineering at Coinbase, the largest cryptocurrency exchange in the US between 2015 and 2017. The major market events for the week ahead right in your inbox. Reacting to the tweet, a Floki-themed cryptocurrency called Floki Inu spiked more than 1,000% within a few hours.

Orbeon Protocol uses blockchain technology to address a real-world issue, and its ORBN token pre-sale is projected to increase in value by 6000%. The only catch is that you need to pledge at least 32 ETH to participate in the staking activity. It’s not something everyone can afford to lock up in a staking contract for months and months. Also, ETC has a limited supply of coins, which could further fuel the its potential rally once The Merge goes live. Ethereum Classic is a proof-of-work blockchain and plans to remain that way until the foreseeable future. Therefore, ETH miners see it as a viable option after the Ethereum mainchain moves to the PoS consensus mechanism.

Among other major cryptocurrencies in the same period, Cardano’s ADA jumped 2% while binance coins were little changed. AVAX tokens surged 10% on the back of strong fundamental activity on Avalanche, which processed more than 1 million transactions on Monday across various tools, services and products built on the network. For cryptocurrency enthusiasts, part of the allure of meme coins is that they reject conventional protocols, and this unconventional approach may extend to the use of canine terms to describe return strategies. But they certainly seem to be a world away from staid investment terms such as return on investment and liquidity.

RSI readings above 70 are considered overbought, and those below 30 indicate an asset may be oversold. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

Here are some investing considerations for a potential investor in Shiba Inu. You can also use any number of online crypto exchanges to buy or convert tokens into SHIB. In keeping with the dog theme, the aforementioned Shiba Inu woof paper uses canine terms to describe how returns can be generated from one’s Shiba Inu tokens.

The global cryptocurrency market cap was trading marginally lower at the $1.09 trillion mark, dropping about a per cent in the last 24 hours. However, the total trading volume tumbled almost six per cent, close to $71.86 billion. Crypto markets saw mixed trading on Tuesday with relatively small gains and losses among the largest assets by market capitalization. Leading the charts in the past 24 hours were payment tokens XRP and Shiba Inu’s SHIB, with advances of as much as 22%. You can still benefit if the market moves in your favour, or make a loss if it moves against you.

At the time of writing, the lead crypto bitcoin had fallen to $16,455. The bear market was worsened after the cryptocurrency derivatives exchange FTX, filed for bankruptcy on 11 November, which sent shock waves through the industry. Over the past year, Shiba Inu has delivered a gain of 89,76,638.5%, while dogecoin is 8,933.8% during the same period. However, both the tokens are up to 75% lower compared to their respective all-time highs. Binance – Buy over 350 tokens in seconds with fees as low as 0% 0% FEES Spot, futures, options, NFTs, savings, staking, and Binance Card. Regulatory bodies from all over the world are requesting more information from cryptocurrency exchanges.

Invest in cryptos that have growth potential over the next five years instead of those that rely on hype. The Twitter account for Shiba Inu has 2.6 million huh token how to buy followers after less than a year, well more than most of the market leaders. Ethereum has 2.1 million, Solana has 1.3 million, and Cardano has 800,000.