The recent trading frenzy over a digital token called Shiba Inu — commonly billed as a “meme” or joke coin — has vaulted the canine-themed cryptocurrency into the top ten most valuable digital assets by market value, hitting $40 billion and surpassing its cousin and apparent inspiration, Dogecoin.
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How M&M made Thar a product, price and branding combo, and drove beyond off-road purists
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As a result of the relationship between supply and demand, the price of a cryptocurrency can be manipulated to an extent. A concerted effort to match all the open orders on a particular crypto across several exchanges will create an artificial shortage.
The debacle was tinged with irony, coming just as Binance CEO Changpeng Zhao, also known as CZ, warned about incoming volatility.
“We do it in the equity market, we do it in the bond markets, people might want it here,” Gensler said at the Aspen Security Forum over the summer.
Mr Rocket also cited some concerns over whether there is a "strong liquidity pool" or not.
Dogecoin (DOGE), denoted by its immediately recognizable Shiba Inu mascot, is a variation on Litecoin.
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SynopsisThe global crypto market cap fell more than 2 per cent to $2.82 trillion mark compared to the last day. However, the total crypto market volume jumped over 31 per cent to $176.91 billion.
Rising inflationary pressures are dragging stocks and bonds, which may prompt the Fed to hike interest rates earlier than expected, an expert said.
The cryptocurrency market is a vast and sometimes confusing place with different coins to choose from.
Ripple also put heavy investments into non-fungible token projects using the XRP ledger – a public blockchain. Many experts claim that this investment puts Ripple in the position to be an “Ethereum killer.”
8% Redistribution in USDT: With every Buy/Sell Transaction, EverGrow Coin redistributes 8% of the transaction to all the token holders directly in their wallets. This redistribution process is fully automatic, and each holder gets their share in proportion to the amount of EverGrow coins they hold. The Redistribution award is in addition to the benefits holders get from the increase in the Token prices on exchanges.
It's working: in just the past few months, we took down 1.7 billion fake accounts to stop bad actors from doing harm.
Meanwhile, Ethereum also hit a record — rising to $4,837.59, according to CoinMarketCap.