Dogecoin (CRYPTO: DOGE) traded 1.3% lower at $0.14 over 24-hours leading up to early Friday morning.
DOGE fell alongside other major coins as the global cryptocurrency market cap declined 1.4% to $1.9 trillion at press time.
| Time-frame | % Change (+/-) |
|---|---|
| 24-hour | -1.3% |
| 24-hour against Bitcoin | 0.45% |
| 24-hour against Ethereum | 0.5% |
| 7-day | -5.2% |
| 30-day | 13.1% |
|
YTD performance |
-20.3% |
See Also: Best Crypto Debit Cards
The Doge Factors
- DOGE was among the most-mentioned coins on Twitter. It attracted 614 tweets, according to Cointrendz data. The three most-mentioned coins were XRP, Bitcoin, and Ethereum.
- DOGE 24-hour trading volume declined 16.6% to $716.2 million, according to data from CoinMarketCap.
- Data from Coinglass indicated that $3.69 million worth of DOGE futures were liquidated in the preceding 24 hours as the meme cryptocurrency declined.
Fed Speak A Downer For Cryptos
On Thursday, U.S. Federal Reserve Chair Jerome Powell said we’re going to be raising rates and getting expeditiously to levels that are more neutral and then that are actually tight.” Statements made by Powell on the same day indicate that the Federal Reserve may opt for a more aggressive 50 basis points hike at its next policy meet.
Dogecoin Is Light
On Thursday, Tesla Inc (NASDAQ: TSLA) CEO Elon Musk sighed heavily in reaction to a scammer that commented on one of his posts. The cryptocurrency scammer had advocated Dogecoin as a solution to Twitter Inc’s (NYSE: TWTR) spam problems while carrying out a giveaway scam.
Crypto Holders Shifting From Bitcoin To Dogecoin
Currency.com CEO Steve Gregory said the company has noted a gradual shift from its users holding Bitcoin to meme coins such as Dogecoin.
DOGE On The Web
DOGE co-creator Billy Markus reacted to a tweet from Musk on Thursday. The entrepreneur said, “If our twitter bid succeeds, we will defeat the spam bots or die trying!”
i think i have around 3,000 actual human followers
— Shibetoshi Nakamoto (@BillyM2k) April 21, 2022
Markus said he had only about 3000 actual human followers in response to Musk. Markus has a Twitter following of 1.3 million.
Markus said in a separate tweet that his account was now the 6969-th largest account on the Jack Dorsey-founded social media platform.
thank you to my 1.3 million followers
i am now the #6969-th largest account on twitter
— Shibetoshi Nakamoto (@BillyM2k) April 21, 2022
Dogecoin-oriented Youtuber Matt Wallace said that “Authentication based on Dogecoin transactions would be cool.”
Authentication based on Dogecoin transactions would be cool
— Matt Wallace (@MattWallace888) April 21, 2022
Read Next: Bitcoin HODLers Clenching Their Moneybags Even As Stocks Plunge Is Remarkable, Says Analyst
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
]]>As Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) see renewed interest from investors, one knockoff coin — Shiba Toby (CRYPTO: SHBT) — is up 220.5% during the past 24 hours to $0.00000007997.
Shiba Toby Price Performance
| Time-frame | % Change (+/-) |
|---|---|
| 24-hour | + 220.5% |
| 24-hour against Bitcoin | +217.5% |
| 24-hour against Ethereum | +214.4% |
| 7-day | +321.8% |
| 30-day | +89.2% |
| YTD Performance | N/A |
For comparison, Dogecoin is up 0.2% during the past 24 hours, trading at $0.15 at press time, according to data from Benzinga Pro. Shiba Inu, the self-described “Dogecoin killer,” has risen 4.1% over the 24-hour period to $0.00002714.
See Also: How To Buy Shiba Inu Coin (SHIB)
Why It Matters: Shiba Toby — which calls Shiba Inu its “meme father” — is a token on cryptocurrency exchange Binance’s BNB Chain.
The project behind the cryptocurrency says its game is in beta testing and will be implemented on the smart contract, enabling game enthusiasts to earn the Shiba Toby token when they win.
The token also plans to launch non fungible tokens (NFTs) soon.
Read Next: Major South American City To Launch NFTs And Accept Bitcoin For Property Taxes
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
]]>Zilliqa (ZIL) rose more than 150% last week and was the biggest gainer in the period. The token associated with a blockchain that says it is the first to rely on a sharded network entirely is focused on high throughput and fast transactional speed.
| Cryptocurrency | 7-Day % Change (+/-) | All-Time High Value/Date Reached | % Change (+/-) Since All-Time High |
|---|---|---|---|
| Zilliqa (ZIL) | +153.58% | $0.2563 On May 6, 2021 | -58.95% |
See Also: How To Buy Ethereum (ETH)
Why Is It Moving? Sharding is a reference to splitting a blockchain into smaller partitions, with each subunit known as shard. This process can help the network become faster and reduce latency.
Ethereum, a larger rival of Zilliqa, is expected to ship Shard chains in 2023, according to the project’s website.
ZIL’s price spike eclipsed the rise in Bitcoin, Ethereum and Dogecoin (CRYPTO: DOGE) last week, which rose by 15%, 16.2% and 24.35%, respectively.
ZIL has seen a pump based on euphoria surrounding Metapolis — a metaverse.
The metaverse runs on unity, unreal engine and Nvidia Corporation’s (NASDAQ: NVDA) Omniverse platform. Metapolis is billed as the first-ever Metaverse-as-a-Service platform or MaaS.
Yes, the rumours are true. Zilliqa will be hitting up #Miami to host an exclusive, early-access event for Metapolis!!
Watch https://t.co/qrrcJtb7Dh later this week to find out how you can be a part of it. pic.twitter.com/p9i3sDvmK9
— Zilliqa (@zilliqa) March 23, 2022
Last week, Metapolis announced a new partnership with Agora, a global talent awards app. Agora will onboard Zilliqa as its “leading blockchain” along with Metapolis, as per a statement.
A tweet by Zilliqa noted that, in 2021, the number of ZIL addresses grew 180% compared with 2020. Correspondingly, growth has also been seen in transaction volume, which rose 172% from 11.2 million to 30.2 million.
More people are hopping aboard the ZIL train.
2021 saw the number of ZIL addresses grow 180% from 2020. Transaction volume also grew correspondingly, chalking a 172% increase from 11.2m to 30.2m!
Turn your attention to the numbers below #EcosystemExcerpts pic.twitter.com/Htyt7KFLu2
— Zilliqa (@zilliqa) March 25, 2022
Last week, the project announced Valeriy Zamaraiev had taken up the role of head of distributed system engineering at Zilliqa. Zamaraiev was previously with Dfinity and has had stints as a Technical Program Manager with Google and at YouTube — both arms of Alphabet Inc (NASDAQ: GOOGL) (NASDAQ: GOOG).
ANOTHER HIRE ALERT
Valeriy Zamaraiev takes up the role of Head of Distributed System Engineering. Bringing expertise from stints at @dfinity, @Google & @YouTube, he will help make @zilliqa the blockchain-of-choice for brilliant dApps! https://t.co/kvhwOFShRq pic.twitter.com/nEmhI4VMYI
— Zilliqa (@zilliqa) March 21, 2022
Read Next: Why Ethereum Classic Rally Is Continuing Unabated
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
]]>BofA Securities head of cryptocurrency and digital assets Alkesh Shah said he has “no idea” why Dogecoin (CRYPTO: DOGE) has a market value of $36 billion.
What Happened: In a webinar hosted by Columbia Business School on March 16, Shah was talking about the bank’s digital asset research evaluation of the top 10 crypto tokens.
“I look at Dogecoin that has no use case, and I have no idea why it’s $36 billion. I have no explanation,” he said.
“Doesn’t mean it [DOGE] can’t be. If people want to own it, they can.”
Shah’s comments came as part of a broader discussion around the growing interest in altcoins, or coins besides Bitcoin (CRYPTO: BTC), and their potential to capture more market share.
According to Shah, more people are looking at Ethereum (CRYPTO: ETH), Solana (CRYPTO: SOL), and Polkadot (CRYPTO: DOT) as their use cases expand.
Other Insights: Bank of America also gauged retail interest by analyzing the number of mentions of crypto assets on social media platforms like Twitter Inc (NYSE: TWTR) and Reddit.
Its analysts found that Shiba Inu (CRYPTO: SHIB) saw the largest amount of interest with a monthly increase of 392% month over month, followed by DOGE which saw a 42% increase over the same period.
“Shiba Inu, which you know really took off, again has no operating system real capabilities, which is smart contract capabilities, had the most mentions and the most market value,” he said.
Why It Matters: Despite some industry watchers’ perceived lack of utility, meme coins like DOGE and SHIB have often been some of the first crypto tokens to be accepted as a payment method from major retailers and companies.
Tesla Inc (NASDAQ: TSLA) accepts DOGE as payment for its online merchandise while major theatre chain AMC Entertainment Holdings Inc (NYSE: AMC) began accepting SHIB and DOGE earlier this month.
Price Action: It is worth noting that Dogecoin had a market cap of $16.1 billion, as per data from CoinMarketCap. The meme-based cryptocurrency was trading at $0.122 at the time of writing, down 0.13% in the last 24 hours.
Read Next: Robinhood’s New Cash Card Will Invest Your ‘Spare Change’ In Bitcoin, Ethereum And Dogecoin
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
]]>Conservative Yoon Suk-yeol, who supported deregulation of the cryptocurrency sector and issued non fungibe tokens (NFTs) during his election campaign, has been elected as South Korea’s next president.
What Happened: South Korean ruling party candidate Lee Jae-myung admitted defeat on Thursday morning, according to a BBC report.
Yoon, who represents the opposition, won the presidency by a margin of just one percent in a heated contest, as per the report.
During the campaign, Yoon had advocated for the deregulation of the virtual asset industry, according to Korea’s Yonhap News Agency.
“To realize the unlimited potential of the virtual asset market, we must overhaul regulations that are far from reality and unreasonable,” Yoon has been quoted as saying.
Both Yoon and Lee issued NFTs during their election campaign, according to a report from The Block.
See Also: How To Buy Bitcoin (BTC)
Why it Matters: Yoon during his campaign pledged to reduce the tax burden on profits from cryptocurrency investments, such as those in Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Dogecoin (CRYPTO: DOGE), according to Yonhap.
The president-elect reportedly called for measures that would allow the virtual asset industry to produce unicorns.
Prices of Bitcoin on South Korean exchanges and those around the world usually have a gap, which is referred to as “kimchi premium.”
The Korean cryptocurrency market is mostly comprised of retail investors due to prevalent regulations against institutional investors and stable coins, according to CryptoQuant, a community-driven analytics platform.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
]]>Benzinga’s “Daily Brief On Trending Tickers” highlights top-searched tickers from around the web and uses the Benzinga Pro platform to highlight recent news items possibly impacting those stocks.
The data on the trending tickers is compiled from a list of most-discussed tickers on the popular Reddit forum WallStreetBets.
Tesla (NASDAQ: TSLA) and SpaceX CEO Elon Musk on Wednesday took a swipe at Russian space agency chief Dmitry Rogozin, who accused the billionaire of taking Ukraine’s side amid the ongoing war. This did not affect price action on the day.
Snowflake Inc (NYSE: SNOW) Snowflake shares dropped as much as 30% in after-hours trading on Wednesday after the data analytics software company reported the slowest revenue growth since at least 2019. The company reported revenues of $383.8 million, vs. the $372.6 million as expected by analysts and reported an adjusted earnings loss of 43 cents per share.
AMC Entertainment Holdings Inc (NYSE: AMC) CEO Adam Aron shared updates related to cryptocurrencies, citing a “big opportunity,” on the company’s fourth-quarter earnings call on Wednesday. The CEO said the movie theater chain would enable online payments in Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) in March.
Teradyne (NASDAQ: TER) Shares are trading 1.2% lower in Thursday’s pre-market session as Morgan Stanley analyst Joseph Moore downgraded Teradyne from Overweight to Equal-Weight and announced a $132 price target.
Occidental Petroleum Corporation (NYSE: OXY): Shares of oil and energy companies are trading higher amid the Russia-Ukraine conflict, which has caused supply concerns and lifted energy prices. OPEC+ also reportedly stuck to its planned 400,000 barrel-per-day production increase.
Barclays Bank iPath Pure Beta Crude Oil ETN (NYSE: OIL) is trading 1.42% lower in Thursday’s pre-market session, investors eye the price of oil as the Russia-Ukraine conflict continues.
VanEck Russia ETF (BATS: RSX): Van Eck’s Russia ETF has attracted a surge of trader interest and drawn comparisons to last year’s so-called meme stock frenzy, as investors seek ways to capitalize on market gyrations caused by the Ukraine crisis. Shares are trading 0.56% higher in Thursday’s premarket session.
Clover Health Investments Corp (NASDAQ: CLOV): A U.S. judge has ruled that venture investor Chamath Palihapitiya, Clover Health and its executives must face a lawsuit that claims they misled investors about the health insurance company when it went public via one of Palihapitiya’s many SPACs. Shares are trading 1.5% lower in Thursday’s premarket session.
Forestar Group (NYSE: FOR): Forestar Group saw a decrease in earnings per share from 85 cents per share in the fourth quarter to 81 cents in the first. Shares are flat in Thursday’s premarket session.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
]]>Benzinga’s “Daily Brief On Trending Tickers” highlights top-searched tickers from around the web and uses the Benzinga Pro platform to highlight recent news items possibly impacting those stocks.
The data on the trending tickers is compiled from a list of most-discussed tickers on the popular Reddit forum WallStreetBets.
VanEck Russia ETF (BATS: RSX) The VanEck Russia ETF continues to collapse, falling 20.34% in Wednesday’s premarket session. The RSX fund is designed to track the MVIS Russia Index, which includes the largest and most liquid companies in Russia.
AMC Entertainment (NYSE: AMC) AMC reported fourth-quarter revenue of $1.17 billion, beating a consensus estimate of $1.09 billion, according to Benzinga Pro. The total represented the highest quarterly revenue for the company in two full years. CEO Adam Aron says AMC will begin accepting Shiba Inu (CRYPTO: SHIB) and Dogecoin (CRYPTO: DOGE) as payment in “a couple of weeks.”
Sofi Technologies (NASDAQ: SOFI) reported fourth-quarter adjusted revenue of $279.88 million, up 54% year-over-year. The figure beat a consensus estimate of $279.29 million, according to Benzinga Pro. Shares were trading 15.29% higher in Wednesday’s premarket session.
GameStop (NYSE: GME) The Securities and Exchange Commission recently proposed rules that would expand reporting of short sale positions. The agency said it aims to gain better insight into market conditions like the January 2021 short squeezes that convulsed the prices of meme stocks like GameStop and Koss.
Ionis Pharmaceuticals (NASDAQ: IONS) Guggenheim analyst Debjit Chattopadhyay initiated coverage on Ionis with a Buy rating and announced a price target of $64.
Beyond Meat (NASDAQ: BYND) A whale with a lot of money to spend has taken a noticeably bullish stance on Beyond Meat. From the overall spotted trades, 28 are puts, for a total amount of $1,364,567, and four calls for a total amount of $139,245.
Tesla (NASDAQ: TSLA) Tesla announced its next-gen battery tech back in 2020 and at the time stated the new 4680 battery would allow for a $25,000 electric car. Panasonic has confirmed it will begin mass production of 4680 batteries for Tesla by the end of March 2024.
Teradyne Inc (NASDAQ: TER) After a lackluster fourth-quarter earnings report, several analysts including Morgan Stanley and Piper Sandler slashed price targets for the semiconductor tester.
Barclays Bank iPath Pure Beta Crude Oil (NYSE: OIL) Trading 5.32% higher in Wednesday’s premarket session, investors are eyeing the price of oil as geopolitical tensions during the Russia-Ukraine conflict.
Forestar Group (NYSE: FOR) Forestar Group saw a decrease in earnings per share from 85 cents per share in the fourth quarter to 81 cents in the first.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
]]>U.S. President Joe Biden has condemned Russia’s attack on Ukraine, calling it “unprovoked and unjustified.”
What Happened: Biden said in a statement that Russian President Vladimir Putin has chosen a premeditated war that would bring a “catastrophic loss of life and human suffering,” adding that he is praying for the “brave and proud” people of Ukraine.
“Russia alone is responsible for the death and destruction this attack will bring, and the United States and its Allies and partners will respond in a united and decisive way,” Biden said.
The U.S. President said that the U.S. will coordinate with its NATO Allies to ensure a “strong, united response” that deters any aggression against the Alliance.
Biden added he will be monitoring the situation from the White House and will meet leaders from the G7 group of nations on Thursday morning.
Why It Matters: The statement comes as Putin authorized a Russian military operation in Ukraine, with reports emerging of blasts being heard in several Ukrainian cities.
The global financial markets are extending the sell-off, with U.S. futures plummeting significantly. Cryptocurrencies like Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Dogecoin (CRYPTO: DOGE) are also no exception.
Photo: By Gage Skidmore on Wikimedia
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© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
]]>Tesla Inc (NASDAQ: TSLA) CEO Elon Musk posted a meme on Twitter, suggesting users are once again flirting piracy software in response to the onerous nature of streaming websites.
What Happened: Musk tweeted Monday that “entertainment is becoming a username/password/2FA nightmare.”
The Tesla CEO shared a meme featuring a person being enamored by Netflix Inc (NASDAQ: NFLX), whilst being in the company of “The Pirate Bay.”
However, as streaming apps multiplied with the coming of Walt Disney Co’s (NYSE: DIS) Disney+, Amazon.com, Inc’s (NASDAQ: AMZN) Prime and others, the person once again gravitates towards “The Priate Bay.”
M Night should do a horror movie about this – it would resonate
— Elon Musk (@elonmusk) February 22, 2022
Musk said in another tweet that the filmmaker Manoj Nelliyattu, better known as M. Night Shyamalan, should make “a horror movie about this – it would resonate.”
See Also: How To Buy Netflix (NFLX) Stock
Why It Matters: Last year, it was reported that Netflix was testing a new feature that weeds out password sharing by making users enter details sent via email or text message to the account owner.
Dogecoin (CRYPTO: DOGE) co-creator Billy Markus said in response to Musk’s tweet that his whole family uses all his entertainment accounts and probably their friends as well.
i think my whole family just uses all my accounts, probably their friends too, i keep seeing random new names added
— Shibetoshi Nakamoto (@BillyM2k) February 22, 2022
Twitter users posted memes in response to Musk’s dig on the streaming giants.
Password Monster comes out from the TV and eat those without 2FA !! pic.twitter.com/Tz5GmlsQxb
— Tesla in the Gong (@TeslaGong) February 22, 2022
— Sir Doge of the Coin (@dogeofficialceo) February 22, 2022
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
]]>For anyone who plays Wordle, you’re used to guessing five-letter words. Tesla Inc (NASDAQ: TSLA) CEO Elon Musk has a five-letter guessing game that could be right up your alley.
What Happened: A video shared by U.S. President Joe Biden featured General Motors Company (NYSE: GM) CEO Mary Barra.
“We are so happy to announce that we would invest $7 billion in the state of Michigan to further our EV manufacturing,” Barra said. “We want to have a portfolio of EVs.”
Biden said he was happy to hear Barra’s announcement and that climate change means jobs, which Barra and GM are proving.
“I meant it when I said the future was going to be made right here in America. Companies like GM and Ford are building more electric vehicles here at home than ever before,” Biden tweeted with the video.
Related Link: Elon Musk Has A Laugh As President Biden Says Detroit Leading The World On EVs
Why It’s Important: The post didn’t go unnoticed by Musk, who heads the company that produced more electric vehicles than any other automotive company.
Musk offered a clue to anyone who wanted to guess who the leader in electric vehicles was, providing this:
“Starts with a T, Ends with an A, ESL in the middle.”
Starts with a T
Ends with an A
ESL in the middle— Elon Musk (@elonmusk) January 27, 2022
The tweet from Musk got lots of engagement along with many replying to Biden about the message he was sending by overlooking Tesla and highlighting companies such as General Motors and Ford Motor Company (NYSE: F).
Dogecoin (CRYPTO: DOGE) creator Billy Markus asked, “What about the largest electric car maker in the world that is also in America that literally makes several hundred times more electric cars than the ones you named, Joe?”
In case Biden hasn’t yet heard of Musk, Gerber Kawasaki CEO Ross Gerber provided an introduction via Twitter.
“Biden. Let me introduce Elon Musk. The American businessman who started the EV revolution. It’s a bit embarrassing this praise of two of the companies producing the most gas vehicles that are destroying the environment,” Gerber tweeted.
The tweet from Biden got more than 11,000 likes, which failed in comparison to the 52,000 likes that Musk’s response received.
“Elon Musk ratioed the President of the United States,” Unusual Whales said referring to a phrase used to describe when someone’s reply gets more engagement than an original tweet on Twitter Inc (NYSE: TWTR).
Tesla reported fourth-quarter production of 305,840 electric vehicles and more than 900,000 for the full fiscal year.
In case you were wondering, the answer to the riddle is TESLA.
Photo: President Joe Biden official Facebook page
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
]]>