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Dogecoin price slump continues after Doge co-founder slams cryptocurrencies as 'scam' and China clamps down on crypto mining

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As long as prices avoid closing below this barrier, odds favor a resumption of the uptrend toward a new all-time high at $4,574. .

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Safemoon crypto is not a coin, but a token. It has seen major price rises movements over just a few months in 2021. The price surged by tens of thousands of percent in April and May, then lost most of those gains by August. Such volatility is far from unusual in the crypto space.

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Bitcoin and other leading crypto coins experienced a significant drop in share price after investors began dumping mining equipment as China announced fresh regulations.
The overall cryptocurrency market capitalization now stands at $2.91 trillion, and Bitcoin’s dominance rate is 41.9%. #Bitcoin #Cryptocurrencies #Altcoin #Federal Reserve #Ethereum #Bitcoin Price #Markets #United States #Inflation #Market Update #Ether Price Solana DEX positioned as third-generation exchange aimed to solve issues around old blockchain infrastructure ‘We'll see about 200 chains connected through Cosmos’ IBC next year,’ says Tendermint CEO Peng Zhong Editor’s Choice Elon Musk offloads $1.1B in Tesla stock Bitcoin miners look toward nuclear power for sustainable energy Rocket Pool Eth2 staking service launches, hits stage two cap in 45 seconds Beeple’s Discord compromised, timed to coincide with Christie’s auction ProShares Bitcoin futures fund in top 2% of all ETFs for volume Bitcoin’s new all-time high at $69,000 and Ether’s slow climb toward $5,000 are clear signals that bulls are in control and a hint that altcoins intend to follow.

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Electric car maker Tesla will stop accepting Bitcoin as a payment, CEO Elon Musk tweeted on Wednesday, citing environmental concerns.

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Some are curious if this meme coin will ever truly see a full Shiba and Dogecoin-like impact, although it’s already off to an impressive start.

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    Altcoins are alternative versions of Bitcoins, but with minor changes. They are often a result of a Bitcoin fork. There are many different types of altcoins.

    “This is because if the bill passes, exchanges will have to issue 1099-B tax forms with cost basis information to investors,” Shehan Chandrasekera, CPA, head of tax strategy at CoinTracker.io, a crypto tax software company, recently told NextAdvisor. “This will significantly reduce the crypto tax filing burden.”
    “Bitcoin appears to be pushing out of a bullish flag pattern, and Ether is likely to confirm a long-term breakout on a close above resistance this Friday,” said Katie Stockton, founder and managing partner of Fairlead Strategies, in a note.

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    The name SafeMoon extends to “Safely to the Moon” and auctions itself as a Defi token. This getting to the moon expression was first presented with Dogecoin, and now SafeMoon follows it too. It is a decentralized money token that is like other cryptos such as Bitcoin and means to retouch the occurrence of unpredictability issues, in contrast to different currencies.

    Insurance and risk management for digital assets will increase investor confidence, said OneDegree.
    The university hopes the move will raise funding for large-scale conservation and restoration initiatives.

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    Contrary to this assumption, if the price plummets below the 20-day EMA, traders may rush to the exit. That could pull the price down to the 50-day SMA ($39.87).

    Cryptocurrencies and decentralised finance tokens are also highly volatile, so your cash can go down as well as up in the blink of an eye.
    These are just two of the cryptocurrencies that challenge Safemoon’s dominance, and some, like Bitrise, face very stiff competition against Safemoon on the basis of the products on offer, among many other features. From the powerful wallet to exchanges, among many other products, the coin is one of Safemoon’s toughest competitors.

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    Coinbase saw its trading volume suffer a steep drop, driven primarily by lower levels of volatility, despite the listing of dogecoin and shiba inu.

    Investing in cryptocurrency-related offerings is challenging area for investors. The State Securities Board's compact glossary of cryptocurrency terms is intended to help investors equip themselves with a basic understanding of the terms and concepts underpinning the most common facets of cryptocurrencies.
    Blockchain ETFs Let Investors Expose Their Portfolio to Crypto Without Actually Buying Any. Here's How They Work

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Musk’s decision signifies a sharp u-turn for Tesla who only started accepting Bitcoin as payment for its services in February 2021.

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“You have a high chance of losing it all, but a small chance of winning it big,” says Nate Nieri, a CFP with Modern Money Management in San Diego, California. “Don’t gamble an amount that would burden your family or prevent you from achieving your goals” if you lost it all, he says.

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The token was trading at $1,157.00 Monday morning - 5.3% lower compared to actual Tesla stock, which closed at $1,222.09 on Friday.

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