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The number of people who utilize crypto coins (i.e., utility) and for what purpose impacts their price. The price will rise if more people use them to buy goods and services rather than just holding them.
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Bitcoin (BTC)Bitcoin Cash (BCH)Binance Coin (BNB)Ethereum (ETH)Litecoin (LTC)Tether (USDT)Ripple (XRP)
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EmmerdaleITV Emmerdale fans in disbelief over character's unrecognisable makeoverMoira Dingle was commented on during the second episode of the week on Tuesday November 9.
Plenty of altcoins have also taken a beating. Dogecoin erased the breakneck gains of the week and then some, nearly halving its price after a meteoric climb last weekend. XRP is down 35% week-over-week, Stellar is down 30% and Polkadot is down 25% since last week.
Dogecoin, founded in 2012 as a joke, has drawn widespread attention from high-profile personalities such as billionaire entrepreneur Elon Musk and rapper Snoop Dogg.
In addition, the hashtag #SAFEMOONWALLET trended on Twitter for days leading up to the intended release. It also made an appearance on a billboard at London’s Piccadilly Circus.
Typically, meme coins don’t gain on fundamentals. Instead, they are usually driven by an internet-based joke.
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ELIZABETH WARREN: Right now, our regulators and frankly our Congress is an hour late and a dollar short, and we need to catch up with where these cryptocurrencies are going.
SafeMoon doesn't tout itself as a cryptocurrency but instead as a DeFi token, a decentralised finance token. DeFi’s aim is to bring about disruption to the financial world and enable people to lend in peer-to-peer networks without needing a physical bank.
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According to DogeZilla’s white paper, it has a vault that verifies crypto launches.
Currently, the global crypto market cap stands at $2.87 trillion, an increase of 4.70%. Other cryptocurrencies were also trading in the green.
Among the cryptocurrencies that could disrupt Safemoon is the Bitrise coin, which is the fastest growing crypto at the time of writing. The coin was launched at the end of July. Shiba Inu is another piece that has been doing very well since its launch in August. However, experts have pitted Safemoon against Bitrise, which is now billed as the next “Safemoon”.