Tag: Doge

Binance Adds DOGE, XRP, SOL to FDUSD with Zero Maker Fees

by Blockchain News

Key Takeaways:

Binance adds five new trading pairs, including DOGE/FDUSD and SOL/FDUSD.

Zero maker fees on FDUSD trading pairs until further notice.

TRY is specified as a fiat currency, not to be confused with digital currencies.

Leading cryptocurrency exchange Binance announced today the addition of five new trading pairs, effective September 7, 2023, at 08:00 UTC. The new pairs include DOGE/FDUSD, SOL/FDUSD, TOMO/TRY, UNFI/TRY, and XRP/FDUSD.

New Trading Pairs

The introduction of these new trading pairs is a significant move for Binance, as it broadens the range of assets that can be traded on the platform. DOGE/FDUSD and SOL/FDUSD are particularly noteworthy, given the increasing popularity of Dogecoin (DOGE) and Solana (SOL) in the crypto market.

Zero Maker Fees on FDUSD Pairs

In a move likely aimed at encouraging trading activity, Binance has also announced that users will enjoy zero maker fees on FDUSD trading pairs “until further notice.” This could potentially increase liquidity and trading volumes for the newly introduced FDUSD pairs.

TRY as Fiat Currency

The announcement also clarified that TRY, which is part of the TOMO/TRY and UNFI/TRY pairs, is a fiat currency and “does not represent any other digital currencies.” This clarification is crucial for traders who might otherwise confuse TRY with a digital asset.

Implications for Traders

The addition of these new trading pairs and the zero maker fee policy could attract more traders to the Binance platform, especially those interested in diversifying their portfolios with DOGE, SOL, TOMO, UNFI, and XRP. However, traders should be aware that the zero maker fee is a temporary measure and should keep an eye out for any updates from Binance regarding this policy.

Zero Fees and Crypto Price

Zero fees are a common business strategy to boost liquidity. Both Binance and other cryptocurrency exchanges have employed this ‘zero fee’ approach. As reported by Blockchain.news on May 18, 2023, Coinbase announced significant updates to its premium membership service, Coinbase One. Notably, the platform will now offer zero trading fees and enhanced staking rewards to its members.

However, it’s important to note that an increase in liquidity does not necessarily translate to a rise in price.

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Elon Musk Responds to Dogecoin Founder’s Drastic Income Reduction

by Blockchain News

Elon Musk, the CEO of Tesla and SpaceX, recently responded to a tweet from Billy Markus, also known as Shibetoshi Nakamoto, the founder of Dogecoin, regarding a drastic reduction in his social media earnings. This interaction gains significance against the backdrop of Musk’s controversial influence on Dogecoin and allegations of market manipulation.

Markus’s Earnings and Musk’s Response

On September 2, 2023, Billy Markus disclosed that his recent social media earnings had plummeted to about one-third of what they were in the previous two weeks. The tweet quickly gained traction, stating,

my 𝕏 paycheck is about 1/3rd of what it was compared to the previous two weeks, and i want to say… …that it’s all magic bonus money to me that i greatly appreciate and it’s absolutely crazy and amazing that i get paid anything at all to shitpost on this app

In response, Elon Musk tweeted that the fluctuation was likely due to the “beta code” nature of the revenue-sharing algorithm on the platform. He also added that only verified users counted towards ad revenue, hinting at the complexities of monetization algorithms.

Sorry, this should be more stable over time. Revenue share is still very much beta code. Worth noting that only verified users (aka X Premium subscribers) count for ad revenue, otherwise it’s trivial to game.

Implications for Social Media Monetization

The interaction between Markus and Musk serves as a microcosm of larger issues surrounding social media monetization, including high-profile figures of cryptocurrency. It raises questions about the fairness and stability of revenue-sharing models, especially for content creators who rely on these platforms for income. Moreover, it brings into focus the ethical considerations of influential figures like Musk affecting market dynamics.

Musk’s Influence on Dogecoin

Elon Musk has been a polarizing figure in the cryptocurrency world, particularly when it comes to Dogecoin. His tweets have often led to wild price swings, as reported by Blockchain.News, earning him both admiration and criticism. Musk has even faced legal action for allegedly manipulating Dogecoin prices, although these allegations have yet to be substantiated.

Recent Revelations from Wall Street Journal

A recent Wall Street Journal article titled “The Real Story of Musk’s Twitter Takeover” adds another layer of complexity to this narrative. The article, based on an excerpt from Walter Isaacson’s upcoming biography on Elon Musk, reveals that Musk has been quietly funding Dogecoin’s development. It also discusses failed negotiations between Musk and Sam Bankman-Fried (SBF), the CEO of cryptocurrency exchange FTX, over a potential $5 billion investment. Both parties reportedly considered the other “crazy.”

Conclusion

The sharp decline in social media earnings experienced by Dogecoin founder Billy Markus and Elon Musk’s subsequent response have opened up a Pandora’s box of questions related to social media monetization and market influence, a sentiment echoed by other key figures. This issue gains urgency as Meta’s new Twitter-style app, Thread, intensifies competition and challenges Twitter’s operational model.

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Binance to Delist LTC/BUSD and DOGE/BUSD Perpetual Contracts

by Blockchain News

Binance Futures has announced its decision to delist the USDⓈ-M LTCBUSD and DOGEBUSD Perpetual Contracts. Here are the primary details:

Automatic Settlement and Delisting

All positions on the USDⓈ-M LTCBUSD and DOGEBUSD Perpetual Contracts will undergo an automatic settlement on 2023-08-24 at 09:00 (UTC). Following this settlement, the contracts will be officially delisted from the platform.

Adjustments to Leverage & Margin Tiers

Prior to the delisting, Binance Futures will make adjustments to the leverage and margin tiers of these contracts on 2023-08-17 at 12:30 (UTC). It’s crucial for users to note that positions opened before this update will be affected. To avoid potential liquidation, users are strongly advised to adjust their positions and leverage settings accordingly.

Key Recommendations

Users are urged to close any open positions related to these contracts before the specified delisting time to sidestep automatic settlement.

From 2023-08-24 at 08:30 (UTC) onwards, users will not have the option to open new positions for the aforementioned contracts.

Protective Measures: Binance Futures has highlighted that, in the interest of user protection and to counteract potential risks in volatile market conditions, it might introduce additional protective measures for these contracts without further notice. Such measures could encompass adjustments to various parameters like leverage values, position values, and maintenance margins.

For those seeking more comprehensive details, Binance has provided resources on its platform, including specifics on the delisting of futures contracts, trading rules, and other related topics.

Recent Delistings:

On August 15, 2023, Binance announced its decision to delist SNM, SRM, and YFII effective from August 22, 2023.

On August 16, 2023, Binance Margin communicated its intention to delist the EPX/BUSD, GAL/BUSD, GMX/BUSD, HIVE/BUSD, KLAY/BUSD, RAD/BUSD, and TVK/BUSD cross margin and isolated margin pairs. This change will take effect on 2023-08-24 at 06:00 (UTC).

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Musk’s Halloween Tweet Leads to DOGE, SHIB Uptrend

by Blockchain News

Elon Musk, the new boss of Twitter, has again made a crypto-realted headline that has shot up prices.

shutterstock_2150043711 l.jpg

Musk tweeted a photo of a Shiba Inu dog dressed in a shirt with a Twitter logo and a pumpkin with a Twitter logo on Halloween day, accompanied by a wink emoji as a caption. 

As expected, the prices of Musks’ favourite crypto Dogecoin (DOGE) and Shiba Inu shot up. 

DOGE shot up 14% within minutes following his tweet. However, the crypto shrank down to 12% at press time. 

While Shiba Inu also showed a big uptrend but not as much as DOGE, it rallied by around 5% to create a local high of $0.00001032. However, Shiba Inu’s uptrend also fell after the hype died down, and at press time, the pump was down to 4%. It was trading at $0.00001287.

Besides the tweet, the two cryptocurrencies were already hot as Musk had already hinted that DOGE would soon be incorporated with the Twitter platform.

Musk’s latest tweet post comes after his completion of the acquisition of Twitter with $44 billion.

Musk has been a vocal supporter of DOGE for years now. He also believes that DOGE is better than bitcoin for executing daily crypto payments.

Musk’s crypto-related tweets have always been market movers. 

DOGE also previously shot up in May when Musk tweeted that in the near future, his space venture company SpaceX would introduce payments with DOGE.

Bloomberg media on Saturday suggested several ways that Musk, who is one of the most significant crypto influencers globally, might bring more cryptocurrency into Twitter.

According to Bloomberg, if Musk decided to play a bigger crypto role on Twitter, there are some ways he could do it.

Bots and spam on Twitter have been a huge concern for Musk and helped trigger a contentious legal battle that put his acquisition of the firm at risk. The issue is particularly important in cryptocurrency, where spam accounts impersonate famous personalities like Musk in order to promote scams involving fake crypto giveaways.

According to Bloomberg, some crypto enthusiasts believe that Musk may advocate for the use of blockchain to help reduce bots on Twitter and authenticate all real humans on social media.

Freedom of speech is a priority for Musk, and he intends to lift the company’s lifelong bans on users. Those values align with those of most crypto believers dedicated to the ethos of the decentralization promoted by blockchain.

As per Bloomberg, Musk could potentially implement a token-based voting system that allows users to have more say over what occurs on Twitter. He also could add more crypto elements on Twitter to expand decentralization aspects and mainstream usage of digital assets.

Musk has already expressed ambitions of turning Twitter into a “super app.” In the past, he expressed admiration for China’s WeChat platform, which can handle things like messaging, games, payments, and video streaming.

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Crypto Prices Remain in Red, Shina Inu Falls Over 15%

by Blockchain News

With the new week today, cryptocurrency prices have remained in the red.

Among tokens, Dogecoin’s price was trading about 7.80% lower at $0.05685, whereas Shiba Inu plunged more than 10% to $0.0000107. Multiple tokens have also declined, including XRP, Uniswap, Solana, Polygon, Avalanche, Binance USD, Polkadot, Litecoin, Apecoin, Cardano, Stellar, Chainlink, Tron, among others.

Coins like XRP, Polkadot and other smaller tokens posted heavier losses and were deeper in the red.

XRP token has also suffered a heavy decline. The token affiliated with Ripple Labs Inc. shed as much as 13.5% amid an ongoing court case. According to Bloomberg, the decline came along as the firm and the SEC preferred an immediate ruling in a court case over whether Ripple was “reckless” in claiming XRP is not regulated security.

Over the past 24 hours, the market value of digital tokens has gone down more than &70 billion to $941 billion. In 2021, the market value was at $3 trillion, according to data from CoinGecko.

The declines of the major crypto values are still subject to overall economic metrics—ranging from the disappointing Consumer Price Index, the benchmark S&P 500 falls, to the prospect of a global wave of monetary tightening this week.

Investors are bracing for volatility as the Federal Reserve this week is expected to announce interest-rate hikes to fight price pressures.

The recent rise and fall of the Bitcoin price in the last few days is in line with market participants’ expectations. Cryptocurrency markets are likely to be volatile until the macroeconomic situation settles down to a more predictable pace.

– with assistance with Aaron Limbu- 

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Crypto Prices Remain in Red, Shina Inu Fall Over 15%

by Blockchain News

With the new week today, cryptocurrency prices have remained in the red.

Among tokens, Dogecoin’s price was trading about 7.80% lower at $0.05685, whereas Shiba Inu plunged more than 10% to $0.0000107. Multiple tokens have also declined, including XRP, Uniswap, Solana, Polygon, Avalanche, Binance USD, Polkadot, Litecoin, Apecoin, Cardano, Stellar, Chainlink, Tron, among others.

The declines of the major crypto values are still subject to overall economic metrics—ranging from the disappointing Consumer Price Index, the benchmark S&P 500 falls, to the prospect of a global wave of monetary tightening this week.

Investors are bracing for volatility as the Federal Reserve this week is expected to announce interest-rate hikes to fight price pressures.

The recent rise and fall of the Bitcoin price in the last few days is in line with market participants’ expectations. Cryptocurrency markets are likely to be volatile until the macroeconomic situation settles down to a more predictable pace.

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Dogecoin (DOGE) Competitor Shiba Inu (SHIB) Announces New Metaverse Project

by Dailyhodl

Memecoin and Dogecoin (DOGE) rival Shiba Inu (SHIB) is selling virtual land in their recently announced metaverse.

In a new announcement, Shiba Inu introduces Shiba Lands, virtual real estate in the Shiba Inu Metaverse.

“We are happy to announce and proudly introduce Shiba Lands! These ‘lands’ found inside our Metaverse will be available for purchase/auction really soon, and it will be our first step towards allowing the community to jump into the Metaverse prior to its full release!”

Holders of the Shiba Inu ecosystem token Doge Killer (LEASH) will have priority access to the virtual lands, which is being modeled off of other metaverses such as Decentraland (MANA) and The Sandbox (SAND).

“This queue allows exclusivity by requiring interested parties to hold ‘LEASH,’ which gives priority and exclusive access to this first selling phase of the land plots in our Metaverse. 

In addition to the queue, we also have worked on an anti-dump system in order to protect LEASH holders. The remaining lands will then unlock, and become available for the public after this exclusive selling process finalizes.”

In response to the news, LEASH jumped 60% in price from $1,178 to $1,893. Doge Killer has since evened out to $1,782, up 123.7% over the last week.

The announcement also says the official name of the Shiba Inu Metaverse will be dropping soon.

“Like everything Shib does, we will lead this Metaverse sector. At this time, our early phase of development continues for the Shiba Inu Metaverse – Codename: Shiberse. 

(Note, we are have not released the name of the Metaverse as of yet for a reason, but expect it to drop this month!)”

SHIB has been largely unaffected by the announcement in terms of price action. Shiba Inu is currently trading for $0.000032, down 3.6% in the last 24 hours but up 55% over the last seven days.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Shiba Inu Builds Real Estate In The Metaverse, Pushes LEASH, SHIB To Rise 50%

by NEWSBTC

The innovators of the popular meme coin Shiba Inu announced that the protocol will soon offer plots of virtual land in a soon-to-launch metaverse, causing the value of ecosystem tokens such as LEASH and SHIB to surge by nearly 50%.

Metaverses are a broad concept that refers to a virtual domain in which individuals can interact in the same way they do in the real world, only digitally. The concept has gained traction in recent years, with metaverse tokens such as Decentraland’s MANA and Axie Infinity’s AXS now valued in the billions of dollars.

“The Metaverse will be one of the most exciting areas of cryptocurrency for people to enjoy. Utilizing it as another fantastic resource for providing incentives, content, and monthly royalties to the crypto community,” the developers of the Shiba Inu disclosed in a blog post.

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What Can We Expect From Shiba Lands?

Dubbed as the “Shiberse”, the metaverse property development will serve as the Shiba Inu ecosystem’s arm in the virtual domain. Shiba Lands and its unique auction system will be a major component of the Shibverse.

The Shiberse competes with other metaverse ecosystems such as Decentraland, Sandbox, Gala Games, and Axie Infinity. Despite being new to the metaverse, Shiba Inu has already piqued investors’ interest.

Retail investors have already flocked to SHIB because of the coin’s sporadic solid growth over the previous year. The queuing method for its land release is intended to avoid the exorbitant gas expenses experienced during the Shiboshi NFT launch last year.

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Total SHIB market cap at $7.98 billion in the daily chart | Source: TradingView.com

Related Reading | Shiba Inu Enters The Metaverse, But Will This Help Its Price?

The company announced that the queuing system will make the procedure fair and seamless for their community globally.

Notably, in conjunction with the news, the price of Doge Killer (LEASH) increased by over 40%. In addition, the Shiba Inu team hinted that there would be additional “collaborations.”

SHIB Regains Top Position On Whale Addresses

As of now, Shiba Inu has recaptured top place on whale addresses, with $1.7 billion in tokens held by investors on the Ethereum network.

After the cryptocurrency market comeback, Shiba Inu’s popularity surged. Shiba Inu has almost doubled in value from the local low on February 5.

The token’s price topped out at $0.000035 before retracing to $0.000029, well below the $0.00003 mark. Despite the token not hitting new highs, traders could defy selling pressure and keep the asset above $0.00003.

However, whales have chosen to accumulate extra tokens while the currency sells at a large discount. Another Shiba Inu whale has joined the network, amassing 3.4 trillion SHIB worth $115 million.

While Shiba Inu regained its throne yesterday, market movements reduced whale holdings to $1.7 billion. Previously, many short positions were opened for no apparent cause, indicating a market overheat.

Despite Bitcoin’s $45,000 comeback and the altcoin market’s general recovery, open interest data show that most traders still expect a negative trend to continue.

Meanwhile, SHIB has dropped 8% in the last 24 hours after surging about 40% on Monday and Tuesday. At the time of publication, the token was trading at $0.000033.

Related Reading | Shiba Inu Barks At Bears With 25% Gains, But Social Media Continues To Trend Dogecoin

Image from Coingape, chart from TradingView.com

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Shiba Inu Sets Course for Meme Coin Metaverse as Doge Killer Token Jumps 48%

by Decrypt

In brief

  • The team behind Shiba Inu, the second largest meme coin by market cap, has announced a metaverse project.

  • Investors will be able to buy virtual land using Doge Killer (LEASH), another token by the same team.

The world of meme coins is now entering the metaverse. The team behind Shiba Inu, an Ethereum-based token that arguably has little utility but is the 13th biggest cryptocurrency with a market cap of $18.4 billion, have announced a virtual land project. 

In a Tuesday blog post, the developers said they would “lead this Metaverse sector” and will soon release “Shiba Lands” for purchase and auction. The metaverse refers to shared virtual worlds that people can interact with as 3D avatars. 

Those who want to get involved ahead of the launch of the meme coin metaverse can do so by buying and holding Doge Killer (LEASH)—another token created by the developer (or developers) behind Shiba Inu. 

“Overall, our focus is not only to disrupt the Metaverse industry but many industries in and outside the crypto world,” the blog post read. 

“Therefore we are early, but most importantly, our Metaverse serves as the anchor in our sustainable ecosystem, as we add even more utility, projects, and benefits for our beloved ShibArmy, the best crypto community out there.”

Interested investors will be granted a place in the queue to the Shiba Inu metaverse by holding Doge Killer tokens, the blog post said. They can snap up the virtual land using LEASH tokens when it goes on sale. 

Doge Killer’s price is up 48% in the past 24 hours, trading for $1,750, according to CoinMarketCap. Shiba Inu (SHIB) is up 10.75%, at $0.00003353 a token. 

A “meme coin” (or “meme token”) is a cryptocurrency that is based-on an internet joke or meme. There is an abundance of them, and they are usually more volatile than other cryptocurrencies, like Bitcoin and Ethereum. 

Shiba Inu exploded in popularity last year when it burst onto the crypto scene to compete with Dogecoin—the biggest meme coin by market cap. Critics of both Both Shiba Inu and Dogecoin say the coins have no inherent value, but proponents—particularly those of Dogecoin—say the coins can and should be used for payments.

Both meme coins have become popular as internet communities and celebrities, such as Elon Musk, have promoted them online, causing their value to go through the roof (and make some early investors very rich.)

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

https://decrypt.co/92547/shiba-inu-shib-metaverse-doge-killer-token

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Litecoin Creator Praises Dogecoin, Can The Token Get Its Bark Back?

by NEWSBTC

In the midst of fast-paced vacillations between Polkadot (DOT), Terra (LUNA), and DOGE, Dogecoin (DOGE), a cryptocurrency project that began as a joke but has now taken on a far more powerful persona, continues to compete for a place in the top 10 cryptocurrencies by market capitalization.

Last year, Dogecoin went through two bullish stages. While the first leg was sparked by Robinhood’s adoption of the meme coin, the second was spearheaded by Tesla CEO Elon Musk, who earned the moniker “Dogefather” for his unwavering support for Dogecoin. Many observers believe that the ‘Elon Musk effect’ is the lone bullish thesis for Dogecoin because Musk’s persona has such a strong influence on the meme coin’s prospects. Now, Litecoin creator has praised the meme coin, calling Elon Musk great.

Meme Coin Praised by Litecoin Founder

Charlie Lee, the founder of Litecoin, one of the most valuable crypto assets by market capitalization, has praised Dogecoin, a popular meme coin, for its contribution in mainstreaming the crypto business.

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Charlie Lee, in a recent Bloomberg interview, described Dogecoin as “great” and “pretty fun.”

He thinks that the most popular meme cryptocurrency is ready to attract a large number of new users.

Given the role both have played in bridging the gap between the crypto industry and the general public, his praise for Elon Musk and Dogecoin is expected.

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On his Twitter page, SpaceX CEO Elon Musk has discussed digital assets multiple times. Apart from that, his electric car firm, Tesla, now takes Dogecoin as a form of payment for its goods.

Related article | Recapping 2021 Memecoin Mania: Dogecoin, Shiba Inu, & More

Dogecoin Price Has Suffered Setback

DOGE plunged 35% after starting to fall on January 16 and remained below the December 4 low of $0.128 until last week. Following the dip, the token has consolidated around the $0.14 demand zone, and continued buying momentum over the next 24 hours might push price up to the 50-day simple moving average (SMA) at $0.16. There is also the possibility of reaching $0.194, which is where the 100-day SMA is located.

However, crypto investors who bought at the highs haven’t fared well in the last nine months.

According to CoinMarketCap data, the Dogecoin price has plummeted by 81% since May 8th. 1 Doge is presently worth 14 cents.

dogecoin

Dogecoin market cap at $18.2 billion. Source: TradingView

Despite the drop, the dog token still has a market cap of $19 billion, accounting for 1.1% of the entire crypto market.

The Dog token price is expected to hit $0.16 this week, according to FXStreet. That’s a 15% increase above the existing pricing.

From the 16th to the 22nd of January, Dogecoin dropped 35% in 6 days, according to FXStreet. However, since then:

“DOGE has produced a sideways movement indicating consolidation around the $0.14 barrier. Any short-term spike in buying pressure is likely to propel [the] Dogecoin price into a 15% ascent to $0.164. This level coincides with the 50-day Simple Moving Average (SMA).”

Related article | Downward DOGE: Descending Dogecoin Pattern Predicts Deadly Drop

Featured image from Unsplash.com, charts from TradingView.com

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