The post "PEPE Market Cap Doubles as Interest in the Memecoin Rises" first appeared on 36crypto.com News.
Pepe (PEPE) coin has once again made headlines as its market cap doubles and investors begin to shift interest to the token. The trending memecoin known for its dramatic rise has doubled its market cap within a week.
Generally, Bitcoin has led the global crypto market in a bullish ride since this month when its price impressively surged over $35,000 reaching its highest point in over a year.
Following the market growth, the value of PEPE has also increased with its market cap crossing the $500 million mark. PEPE experienced an exponential rise in its market cap after its launch in May 2023, when it reached a peak of $1.6 billion in the same month.
However, interest in the coin began to drop and its market cap slumped to $240 million at the beginning of this month. Nevertheless, it has been able to make a grand recovery as its market cap crosses the half-billion mark.
Reasons behind the surge
The reason behind the recent spike could be attributed to a combination of a boost in trading volume and on-chain activities as recent data shows that there has been an increase in the number of wallets holding PEPE coins.
In addition, a recent burn event which saw about 6.9 trillion #PEPE🔥🔥 coins (worth $5.5 million) removed from circulation also contributed to a significant rise in its value and market cap. Following the burn, the price of PEPE rose by an astonishing 31% further increasing investors' confidence in the asset.
Memecoin season?
Meanwhile, Pepe is not the only memecoin to take center stage. Memecoins in general have taken advantage of Bitcoin and the general crypto market surge. Notably, tokens like Dogecoin, Shiba Inu, and FLOKI also witnessed significant growth in their value.
#DogeCoin (DOGE), the leading memecoin saw its market cap reach $9.80 billion with its price growing by 7.8% over the last week. Similarly, in the same period, #Shibainu (SHIB) witnessed a 10% rise in its value with its market cap reaching $4.7 billion.
#FLOKI the 4th largest memecoin by market cap was not left out as its price spiked more than 37% over the last week.
While memecoins could be attractive because of their dramatic rise in value over a short time, it is important to approach them with caution because they are known to be highly volatile assets.
PEPE price today
According to live data from Coinstats, the price of PEPE coin today is $0.00000118. This represents a 5.67% rise in the last 24 hours. What's more, PEPE is currently the third largest memecoin in the market with a live market cap of $498,337,784 ($498 million). Finally, PEPE is ranked #74 on the global crypto market chart with a 24-hour trading volume of $135,782,940 ($135.7 million).

#Shibarium is expected to launch next week.

Are you pawsitive for for $SHIB ? 🐾

I can't predict specific market movements or prices for cryptocurrencies like Shiba Inu. Their value can be highly volatile and influenced by various factors. It's important to do thorough research and exercise caution when investing in any asset.

SHIBARIUM;

The highly-anticipated layer-2 scaling solution, Shibarium, is set to launch soon, leading many to anticipate that it could catalyze a Shiba Inu ($SHIB ) price rally. By enhancing transaction speeds and cutting costs, Shibarium promises to increase $SHIB 's utility and reignite excitement post-launch.

highly-anticipated layer-2 scaling solution;

A highly-anticipated layer-2 scaling solution for cryptocurrency refers to a technology or system designed to address scalability issues in blockchain networks. Layer-2 scaling solutions aim to increase the capacity and efficiency of blockchain networks by handling a significant portion of transactions off the main blockchain while still maintaining security and decentralization.

The term "layer-2" refers to a secondary framework built on top of the main blockchain, allowing for faster and more cost-effective transactions. This approach helps to alleviate congestion on the main blockchain and reduce fees associated with on-chain transactions.

These solutions can take various forms, such as state channels, sidechains, or rollups. They enable multiple transactions to be processed "off-chain," only interacting with the main blockchain when necessary to settle the final result. This significantly improves the throughput of the network and reduces the strain on the main chain.

A "highly-anticipated" layer-2 scaling solution indicates that the cryptocurrency community has been eagerly waiting for its implementation, as it has the potential to address some of the limitations that have hindered blockchain networks, such as slow transaction speeds and high fees. By integrating such solutions, cryptocurrencies aim to achieve greater adoption and utility by providing a smoother user experience.

Factors Driving Price Increases in the Cryptocurrency Market;

The price of cryptocurrencies can be influenced by a variety of factors, and these factors can vary over time. Here are some common dependencies that can contribute to price increases in the crypto market:

1. Market Sentiment: Positive news, announcements, or overall optimism about the future of a particular cryptocurrency or the market as a whole can drive up prices.

2. Adoption and Use Cases: An increase in the adoption of a cryptocurrency for real-world use cases can lead to higher demand and subsequently higher prices. This could include applications in finance, technology, supply chain, and more.

3. Technological Developments: Upgrades, improvements, and advancements in the technology behind a cryptocurrency can attract more interest from investors and users.

4. Regulatory Changes: Positive regulatory developments that provide clarity and legitimacy to the cryptocurrency industry can boost investor confidence and lead to price increases.

5. Market Liquidity: Lower liquidity can lead to price volatility, while higher liquidity can stabilize prices.

6. Market Demand and Supply: The basic economic principle of supply and demand plays a significant role in price movements. Limited supply and high demand can drive prices up.

7. Macroeconomic Factors: Economic conditions, global events, and inflation concerns can influence investors' decisions to seek alternatives like cryptocurrencies, impacting their prices.

8. Media Coverage and Hype: Positive media coverage, endorsements by influential figures, and trends in social media discussions can create hype and attract new investors.

9. Market Manipulation: The cryptocurrency market is susceptible to market manipulation due to its relatively small size. Large players can influence prices through coordinated buying or selling.

10. Halving Events (for some cryptocurrencies): Cryptocurrencies like Bitcoin have programmed supply reductions (halvings) that can impact scarcity and potentially drive up prices due to reduced issuance.

11. Fiat Currency Fluctuations: Changes in the value of fiat currencies against which cryptocurrencies are traded can impact the perceived value of cryptocurrencies.

12. Partnerships and Collaborations: Announcements of partnerships with established companies or other blockchain projects can generate positive sentiment and drive up prices.

13. Network Security and Adoption: A more secure and widely adopted network can attract more users and investors, leading to price increases.

Remember that the cryptocurrency market is highly speculative and can be extremely volatile. Prices can be influenced by a combination of these factors and can change rapidly. It's important to conduct thorough research and consider various perspectives before making investment decisions.

Hopefully, you are able to get the answer.

$SHIB #Shibainu #shibarium #FDUSD #googleai

Shibarium’s near-finalization has been confirmed by Kusama, coinciding with the revelation of a new crucial alliance. Shiba Inu has brought forth a fresh update to its followers.

LUCIE, the Shiba Inu ecosystem marketing strategist, recently took to her X (formerly Twitter) handle to announce SHIB Doggy DAO’s collaboration with a prominent digital asset consultation and investment enterprise.

SHIB Doggy DAO Forms Alliance With ATH

Alpha Transform Holdings (ATH) has forged an alliance with SHIB Doggy DAO. The latter represents a decentralized autonomous entity steered by SHIB token bearers, responsible for financing projects on Shibarium.

ATH, conversely, is a digital asset consultancy and investment agency with an ensemble of seasoned professionals from titans like Nasdaq, News Corp, and Disney. According to the report, their advisory track record boasts projects such as Ethereum and Tether.

Commenting on the news, Alpha Transform Holdings’ Chief Investment Officer and CEO, Enzo Villani said, “SHIB continues the incredible trajectory. Shibarium has already seen great momentum. With over 21 million wallets and over 250,000 smart contracts written to their Layer 2 blockchain testnet, many brands in entertainment, media, and finance will be interested in engaging with this vibrant community.”

Shibarium on the Verge of Completion

Reflecting on the collaboration, the lead developer of the Shiba Inu ecosystem, Shytoshi Kusama, mentioned that Shibarium is “on the brink of completion.”

He added, “Now that Shibarium is nearly complete, and our full structure placed at the feet of the world, we couldn’t ask for a better partner to help shepherd this next phase of the Shiba global phenomenon. […] We look forward to Alpha Transform helping our Foundation swiftly and effectively chart the best course possible for the future of the Shiba Inu ecosystem.”

Presently, SHIB’s market value hasn’t shown a response to the news, experiencing a 2% drop in the last day but escalating by 11% during the day, backed by a commendable weekly surge.

The Announcement by Alpha Transform Holdings (ATH)

Alpha Transform Holdings (ATH), a foremost digital asset advice and investment entity, disclosed its advisory role to the SHIB Doggy DAO Foundation. This foundation, as the decentralized autonomous body steered by Shiba Inu token proprietors, sponsors the endeavors on the Shibarium blockchain.

With the accountability of executing the governance resolutions made by the DAO and safeguarding the DAO’s resources and treasury, the SHIB Doggy DAO Foundation is set to leverage the vast expertise of ATH’s partners and trailblazers like Enzo Villani, Michael Terpin, and Seth Shapiro.

*Disclaimer: This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.

#Shibainu $SHIB

Shiba Inu's lead developer, Shytoshi Kusama, said that a large portion of #ETH s are stuck in the bridge contract and they cannot get back the bridged assets. PeckShield, another blockchain security firm that confirmed the issue, confirmed the issue and confirmed that approximately $1.7 million worth of assets close to 1000 ETH were stuck in the #Shibarium bridge. In addition, blockchain tracker ZachXBT reported that over $750,000 #BONE tokens were also stuck on the bridge.

Some experts, who gave their comments about the problem, said that the problem was caused by the remote procedure call system called RPC. However, sharing of information about the problem seems to be limited.

Shibarium has an important mission to transform the #Shibainu ecosystem from being just a memecoin project into a major blockchain project. Accordingly, the team, which stepped into the layer-2 sector, where the biggest projects of the sector take place, is eagerly awaited to see what kind of improvement will be made to the network in the coming days, even though the problems they experienced at the beginning caused panic.

After the problematic launch of Shibarium, the SHIB token continued down 8% and fell as low as $0.0000091. After the release of the FOMC minutes, the market saw a decline, while #SHIB was among the altcoins that fell the most in the top 100 due to the problems in its ecosystem.

$SHIB

Voyager’s Unraveling: A Significant Crypto Offload

Lookonchain, the revered on-chain analysis service, has recently spotlighted Voyager Digital’s decisive move to liquidate its crypto assets on Coinbase. The beleaguered crypto lending platform, which recently declared bankruptcy, disposed of 49 distinct crypto assets within a span of just four days. From this fire sale, the platform amassed roughly $63 million, with the sale of a whopping 1.4 trillion Shiba Inu tokens contributing nearly $14.4 million.

The disposal extended beyond SHIB, enveloping premier crypto assets such as Bitcoin (BTC), Ethereum (ETH), Chainlink (LINK), Polygon (MATIC), and Decentraland (MANA). While these sales significantly diminished Voyager’s crypto reservoir, the company still retains assets worth around $11.3M, according to Lookonchain’s analysis.

A Beacon of Hope for SHIB Enthusiasts

For those staunchly rooting for Shiba Inu, Voyager’s asset disposition carries an encouraging undertone. As deduced from Lookonchain’s insights, Voyager has wholly liquidated its SHIB holdings, thereby driving its SHIB inventory down to zero. This exhaustive sell-off suggests a plausible decrease in the future selling pressure on the Shiba Inu token, a prospect warmly embraced by the SHIB community.

Shiba Inu’s Market Resilience in Focus

Defying the gravity of Voyager’s colossal sell-off, SHIB’s market dynamics exhibit a robust resilience. The token’s price trajectory has soared by a commendable 14.2% within the previous week. This buoyant market sentiment is chiefly anchored to the much-anticipated unveiling of the Shibarium mainnet at the ongoing Blockchain Future Conference. The investor pulse seems to be pounding with optimism regarding SHIB’s potential trajectory, especially if the touted layer-2 scaling solution actualizes its proclaimed promises.

At the time of reporting, Shiba Inu’s price was poised at $0.00001019, bolstered by support from the 38.2% Fibonacci retracement level ($0.00001007). Notably, any impending breakout might propel SHIB’s price by an impressive 21%, targeting the 61.8% Fibonacci threshold. This projected breakout would, however, have to grapple with formidable resistance expected at $0.00001235.

Lastly, the Relative Strength Index (RSI), a pivotal tool that gauges momentum by comparing magnitudes of recent gains and losses, has been on a consistent upswing since its yearly low marked on June 10. This upward RSI trajectory, currently stationed at 65, signals ample room for SHIB bulls to chart further bullish courses, subject to the RSI traversing into the deeply overbought zone.

#Shibainu #SHIB #crypto2023 $SHIB

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please do your own research before investing in any cryptocurrency.

Meme token has lost more than 90% of its all-time high value.

The total value of all existing cryptocurrency tokens tracked by CoinGecko currently stands at $ 1 trillion. This is 66% lower than the all-time high of $ 3 trillion achieved during the speculative frenzy in 2021. However, some tokens have experienced an even steeper decline, and Shiba Inu (SHIB 1.68% ) is one of them .

The token increased by 43,800,000% in 2021, providing one of the most lucrative one-year returns in history. In other words, a perfectly timed investment of just $3 could make you a millionaire. But the current picture looks very different because Shiba Inu has steadily lost 91% of its value at an all-time high.

So could another spectacular run be on the cards? Believe it or not, there is a mathematical probability that #Shibainu will increase from its current price of $ 0.000007 to $1. But this does not necessarily mean a life-changing chance. Let me explain.

Shiba Inu fails adoption test

First of all, we need to investigate why Shiba Inu has lost so much value in the last two years. Cryptocurrency in general has had a difficult time fulfilling its promise of becoming a decentralized alternative to traditional money. Even the largest token, Bitcoin, is accepted as pay by only 8,120 businesses worldwide, and only 770 of them are ready to accept Shiba Inu.

Volatility is one reason why businesses are not embracing crypto; any pay tool that can fluctuate by millions of percentage points before losing almost all of its value will make cash flow management almost impossible. The bottom line is this: if consumers can't spend their tokens on everyday goods and services, then there's not much reason to buy and hold them, except for a claim that their value will increase.

Investor sentiment remains low

The risk of catastrophic financial losses is another reason why investors have been staying away from cryptocurrencies recently. 2022 was marred by extraordinary failures in the industry, and in November, this drama reached its peak with the collapse of the leading crypto exchange FTX. About $3 billion of customer money is still missing, and there is little hope of getting that money back.

Of course, some crypto enthusiasts will argue that banks in the traditional financial system also sometimes fail, and he certainly supported this point with the collapse of Silicon Valley Bank this year. But no customers suffered financial losses because deposits up to $250,000 are automatically insured by the Federal Deposit Insurance Agency (FDIC), and the U.S. government stepped in to protect larger depositors, most of whom are commercial.

These safety nets do not exist in the decentralized world of cryptocurrency, and the last two years are a reminder that living within the boundaries of a regulated financial system brings benefits. For this reason, it is not surprising that investors are staying away from speculative tokens such as Shiba Inu, but this does not mean that its price will not increase from here.

There is a mathematical obstacle that prevents Shiba Inu from reaching $ 1

There are currently 589.3 trillion Shiba Inu tokens on offer, and the market value of the ecosystem is $ 4.6 billion, with the price of each of them being $ 0.000007. Mathematics shows that if the price of a Shiba Inu token rises to $ 1, the market value of the ecosystem will be $ 589.3 trillion. This will be equal to:

203 Apples (the company, not the fruit, is worth $ 2.9 trillion)

23 American economy (U.S. gross domestic product exceeded $ 25.4 trillion in 2022)

1.3 Planet Earth in terms of wealth (the total value owned by all consumers, governments and businesses at the end of 2022 was $ 463 trillion)

As you probably understand, it is absolutely and absolutely impossible for Shiba Inu to reach $ 1 in its current form.

Here's how to get to $1

The Shiba Inu community has become aware of the supply problem and is trying to solve it by "burning" the tokens, removing them from circulation forever. Investors can participate by sending some of their tokens to a dead wallet, where they will never be recovered. Enthusiasts can also help by posting a specific music playlist or using the Sh Dec Search internet search engine. Part of the proceeds from both activities are used to burn Shiba Inu tokens.

Theoretically, when the supply decreases, the price of Shiba Inu tokens will increase organically. The problem is this: in order for Shiba Inu to reach $ 1 through this mechanism, the community will have to burn 99.99998% of all tokens in the supply. This means the elimination of more than 589.2 trillion tokens.

On September 2, when I wrote this article, 116 million tokens were burned. If this rate remains constant, about 42 billion tokens will be burned this year. This means that it will take more than 13,900 years to burn enough tokens to send Shiba Inu for $1

It's getting worse. Even if the community burns through the 589.2 trillion tokens needed to send Shiba Inu for $1, the ecosystem's market value will still be $4.6 billion. This application will not increase the value of the token, which means that no investor will really be able to make money.

This is because each investor will have to burn 99.99998% of their own tokens to achieve the common goal, so ultimately, they will have fewer tokens worth a higher price per token; holdings.

So, although it is technically possible for Shiba Inu to reach $1 at some point in the future, this will not necessarily translate into a financial gain! #crypto2023 #Binance

Bitrue cryptocurrency exchange hosts Shiba Inu’s community admin Ragnar Shib in an AMA session focused on L2 blockchain Shibarium.
Read more on: https://thecryptobasic.com/2023/09/27/shiba-inu-and-bitrue-engage-community-in-exciting-ama-regarding-shibarium/
#SHIB #Shibainu #Shibarium #crypto #cryptonews

#trading Litecoin will be celebrating its 12th anniversary in coming daysFor the first time in its nearly 12-year history, Litecoin has smashed a remarkable milestone. The Litecoin Foundation announces that the Litecoin network has just processed its 180 millionth transaction.According to the Litecoin Foundation X account, the year 2022 saw a record number of 39 million transactions. This was surpassed in 2023, with Litecoin recording 51 million transactions with around two months left in the year.The Litecoin network just processed its 180 millionth transaction! Last year there were a record total of 39 million in the whole year. So far we've seen 51 million transactions in 2023 a new record! This is significant as Litecoin will be celebrating its 12th anniversary in the coming days. Since its inception about twelve years ago, Litecoin touts itself as a stable network with no downtime, having processed over 180 million transactions.Meanwhile, Litecoin transactions with cryptocurrency payment processor Bitpay are increasing. According to September numbers, nearly a third of all consumers used Litecoin to pay for goods and services at Bitpay merchants.In August, Litecoin had its third halving event, which saw block rewards half to 6.25 LTC. The next block reward halving is predicted to occur in about 1,400 days.Litecoin, like Bitcoin, has a maximum supply limit. There will never be more than 84 million Litecoins in existence, which is four times the supply cap of #bitcoin . This scarcity is frequently considered one of the elements contributing to the value proposition of Litecoin.With a market capitalization of $4.64 billion, Litecoin is the fifteenth largest #cryptocurrency . At the time of writing, $LTC  was down 0.65% in the last 24 hours to $62.90.Litecoin is still in a week-long price consolidation, with its daily Relative Strength Index (RSI) creeping toward the neutral threshold of 50 at the time of writing.Although Litecoin's price has largely consolidated since the August halving event, its network hash rate has lately reached new all-time highs.#Shibainu #CryptoTalks

#Shibainu (SHIB) has gained a negligible 0.3% over the past 24 hours, reaching to a price of $0.0000683.
$SHIB has dropped 5% in the past week, 6% in the past month, and 15.5% since the beginning of the year, in stark contrast to the crypto market's extremely minor decline.
When compared to other prominent tokens like BTC, ETH, XRP, and SOL, this is a big discrepancy, and the fact that SHIB has been falling steadily over the past several weeks suggests that it is in the midst of a long-term downturn. 
SHIB may see a rebound in the not-too-distant future, thanks to the growing popularity of layer-two network Shibarium and the ongoing efforts of the Shiba Inu community as a whole to be taken seriously as more than just a meme token.
Can the "Buy the Dip" Strategy Help the Shiba Inu's Value If It Continues to Fall?
With a relative strength index (purple) that has been in the doldrums since the middle of August, SHIB's chart does not make for uplifting reading.

As the 30-day exponential moving average (yellow) clearly shows, the token's price has dropped significantly from where it should be if SHIB is a desirable asset.
Again, the fact that this average is now below SHIB's 200-day average (blue) indicates that all the pressure is to sell and that SHIB has not yet found a lower level that will make it appealing to buyers again.
Even though SHIB has gained slightly today, it wouldn't be shocking to see it break through yet another support level over the weekend. The support level (in green) is continuing moving lower.
This would mean even more losses, and while the technicals are starting to indicate in the direction of a recovery, SHIB is probably the kind of token that truly needs market-wide bullishness and enthusiasm to increase.
This means it will likely go below $0.0000060 or lower within the next week or so, barring a market-wide recovery.
Nonetheless, SHIB's long-term prospects are brighter, especially since Shibarium, Shiba Inu's own layer-two network, continues to expand.
Since its release in August, Shibarium has attracted a growing number of users, who have now completed over three million transactions across over a million unique wallet addresses.
More developers and decentralised applications (dapps) will be attracted to Shiba Inu thanks to the layer-two network, and SHIB will receive a further, substantial boost upon the eventual release of SHIB: The Metaverse.
For this reason, a reasonable long-term objective for SHIB is somewhere around $0.00001, a price it might be able to maintain over the first few months of 2019.

Lucie, a Shiba Inu marketing specialist, has warned over a new bug in the Shibarium block explorer, ShibariumScan.
Read more on: https://thecryptobasic.com/2023/10/26/shiba-inu-team-warns-of-bug-in-shibarium-explorer/
#SHIB #Shibainu #crypto #crypto2023 #cryptonews