Other cryptocurrencies are also now strong investment options and the Shiba Inu-themed Dogecoin, whose symbol is DOGE, which was initially created as a joke, is now one of the best known tokens. It is now priced at ₹21.14, down from ₹21.83, a change of -3.15% in 24-hours. It’s market cap is currently ₹2.6T.
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The SHIB/USDT pair formed a Doji candlestick pattern on Nov. 9 that resolved to the downside on Nov. 10. If bears sustain the price below the 20-day EMA ($0.000053), the pair could drop to the 78.6% Fibonacci retracement level at $0.000040 and then to the 50-day SMA ($0.000033).
So what happened? And is there any hope for a recovery? To answer both, you have to look at quite a few factors.
As recently as May 2021, Binance was under investigation by the U.S. government for tax fraud and money laundering, according to reporting by Bloomberg.
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DAVID GURA, BYLINE: Republican Cynthia Lummis is a senator from Wyoming, a rancher and a HODLer.
But the hacks didn’t stop. In 2016, the DAO–a blockchain organization that was based on Ethereum–lost what was worth $50 million at the time, due to a technical error someone seized upon. This, once again, sent shockwaves through the community–but also had the unfortunate impact of normalizing these types of hacks for some people.
Shortly after achieving these astronomical new heights, Bitcoin’s price fell back toward $62,700 before recovering slightly to around $64,500, while most altcoins endured near double-digit losses.
People can also borrow crypto assets on various platforms and earn interest for loaning out assets. This niche of the cryptocurrency space is what is known as decentralized finance, or DeFi. Based on the DLT, various platforms facilitate the lending and borrowing of crypto without requiring the user to submit to the control of a centralized entity. DeFi also includes other aspects as well such as decentralized exchanges, or DEXs.
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.
This cryptocurrency is also available and is traded on Coinbase – one of the world’s largest crypto exchange platforms. This accessibility is another reason why it’s an appealing investment option.
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Musk’s influence cannot be underestimated as, even though the likes of PayPal, Mastercard and Facebook have backed cryptos, the Tesla announcement still rocked the market.