Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems.

In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others.

In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies.

Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative.

Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information.

Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets.

Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends.

Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination.

He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society.

In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come.

His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry.

Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.

The memecoin phenomenon didn’t prove as effective in the last month’s start of year crypto market rally, as the gains of the top cryptocurrencies in this category barely outperformed Bitcoin. The monthly gain of BTC stood at 44.5%, while the top two meme-based coins DOGE and SHIB gained 27% and 40.7%, respectively.

Doge needs a market moving catalyst

Dogecoin is losing its popularity as its most prominent supporter Elon Musk is reportedly developing an independent Twitter Coin instead of integrating his favorite cryptocurrency with the social media platform owned by the entrepreneur.

For the greater part of 2022, DOGE/USD performed poorly except for when Elon Musk acquired Twitter. The acquisition raised hopes in the Dogecoin community about increased cryptocurrency usage.

However, without any tangible announcements or reports from Twitter hinting at Dogecoin usage, the 100% price surge from October 2022 reversed in the following two months. The Google search volume for the token has also subsided since Q1 2022.

Dogecoin is losing its popularity as its most prominent supporter Elon Musk is reportedly developing an independent Twitter Coin instead of integrating his favorite cryptocurrency with the social media platform owned by the entrepreneur.

For the greater part of 2022, DOGE/USD performed poorly except for when Elon Musk acquired Twitter. The acquisition raised hopes in the Dogecoin community about increased cryptocurrency usage.

However, without any tangible announcements or reports from Twitter hinting at Dogecoin usage, the 100% price surge from October 2022 reversed in the following two months. The Google search volume for the token has also subsided since Q1 2022.

Another factor influencing the price of DOGE last year was the launch of Dogechain. An EVM-compatible blockchain that uses DOGE as the gas-paying token. However, Dogechain failed to gain user traction, becoming a place mainly for “shitcoin” trading. Currently, less than 1% of DOGE is bridged on Dogechain.

Lastly, the on-chain data for Dogecoin suggests that the price may be overpriced. The Network Value to Transaction Value (NVT) ratio metric is a price-to-earning ratio equivalent for the cryptocurrency markets. The metric measures the ratio of the market capitalization of the token against its transaction volume. Higher transaction volume compared to the market value corresponds to low NVT readings.

Coinmetrics’ historic NVT chart of Dogecoin suggests that the token could be overpriced. For the last eight years, the NFT ratio has oscillated between 10 and 100, with a few outliers during bull markets. Dogecoin’s NVT metric hasn’t tapped the bottom of its long-term range since mid-2021, which exposes it to more downside risk.

The internet’s first and most favorite meme coin would require a catalyst like a tweet from Elon Musk, or drastic change in the token’s tokenomics or fundamentals to revive a positive run in the short-term.

Dogecoin has been trading in a range between $0.07 and $0.19 since June 2019. A breakout from the range could see continued momentum in the direction of the breakout. 

Related: Rumor has it that Dogecoin could shift to proof-of-stake

Shiba Inu’s brand building strategy may not be enough

Like Dogecoin, the weakening meme coin narrative affected the buying strength of Shiba Inu. The second largest meme coin has been working on enhancing the brand value of Shiba Inu by forming partnerships with clothing brands like Bugatti Group and English designer John Richmond.

The Google Trend score of Shiba Inu shows a similar depressing pattern since early 2022 as Dogecoin, with no spikes in search volume since the crypto bull mania of 2021 subsided in Q1 2022.

Like Dogecoin, the Shiba community also has an independent blockchain, Shibarium, which is owned by the Shiba community. However, the blockchain’s gas-paying token is BONE instead of SHIB, which brings no real value to the token holders of SHIB.

The total balance of SHIB on crypto exchanges jumped earlier in January, which is a negative sign, exposing the token to more sell-offs. On the contrary, the smart money wallets identified by Nansen increased their holdings slightly on Jan. 25, which may add some strength to the recent rally.

On a weekly time-frame, the token is trading between $0.00000825 and $0.00001794. A breakout from this range will likely see a strong move in the direction of the breakout. The midpoint of the range at $0.00001200 is also acting as a resistance level for buyers. 

While the top meme tokens have seen fading momentum, Floki Inu and Solana’s BONK token had impressive runs in January thanks to an SOL price rise and tokenomics improvement with Floki Inu. The Floki community voted to burn $100 million worth of FLOKI tokens, which nearly doubled its price on Jan. 29. 

Generally, it appears that the meme coin phenomenon from 2021 has lost its steam considerably. While the meme coins are moving with the rest of the market, their performance has been average. Improvements in the projects by the team or community have become essential to push these tokens back up.