Group items tagged

Some investors anticipate the coin to grow in the upcoming month. If SHIB price ends its trade for 2022 on a bullish note and carries forward its legacy. With further impetus from initiatives such as DAO, Shiba Inu game, and NFTs, the Shiba INU Price Prediction according to Coinpedia could breach the target of $0.00002962.

Dogecoin reached a record above $0.73 on Saturday before dropping as low as $0.51 cents during the show "Saturday Night Live" where Elon Musk called the crypto-asset a "hustle". "He had helped drive the coin to new heights on Friday and Saturday after tweeting a picture of himself and a Shiba Inu on the set of the iconic NBC show... Dogecoin... [which] started as a joke in 2013, has surged more than 20,000% in the past year. Musk has been among its biggest boosters, along with Mark Cuban, Snoop Dogg and Gene Simmons.

"Now that you've gotten a handle on the GameStop stock madness, it's time to learn about Dogecoin. Why is the retail investor hivemind pumping up the obscure cryptocurrency with a Shiba Inu dog for a mascot? Why, for the Lolz. With the help of Reddit and Elon Musk, Dogecoin has increased in value by 600% in the last 24 hours. As a trading move, it makes way less sense than the GameStop frenzy-but that's also kind of the point. Here's a look at what's going on."

"Dogecoin was originally a joke cryptocurrency, taking its name from the "doge" internet meme: a picture of a shiba inu dog talking in Comic Sans font. The idea was to have fun and be silly with a cryptocurrency that was cheap enough to mess around with-each coin was worth a fraction of a cent. Dogecoin fans (nicknamed "shibes") gathered on the Reddit forum /r/dogecoin. They would tip each other dogecoins for amusing comments."

Last year, Bitcoin's use at merchants that use BitPay dropped to about 65% of processed payments, down from 92% in 2020. Ether purchases accounted for 15% of the total, stablecoins were 13% and new coins added to BitPay in 2021 -- Dogecoin, Shiba Inu and Litecoin -- accounted for 3%. The alternative coins' use surged partly as more businesses have begun using stablecoins for cross-border payments. Also many investors may also have chosen to hold onto Bitcoin instead of spending it.

"News that that the country is preparing a bill to regulate cryptocurrencies appears to have sparked a sell-off on exchanges popular with Indian investors. Altcoins including Shiba and Doge were at one point down more than 20% in trading on the WazirX platform, which bills itself as India's "most trusted" cryptocurrency exchange. The coins appeared far less affected on trading platforms such as Binance or Kraken. As of publishing time, Bitcoin was down almost 14% on WazirX but a mere 0.5% on Binance."

Crypto.com holds 31% of its digital asset reserves in Bitcoin, 20% in the Shiba Inu token (a highly speculative "meme coin") and 17% in Ethereum. Various other cryptocurrencies and tokens collectively account for the rest. Meme coins are cryptocurrencies and tokens that are typically inspired by internet memes, and don't have significant functional utility.