Recently, Musk published a tweet with a meme that shows Vikings arriving at the moon first than the US.
As per CoinMarketCap, the value of SafeMoon currency is 0.000003967 US dollars, with a market cap of 2.2 billion US dollars. The digital currency has encountered a consistent expansion in its costs since its launch in the market. .
“This flow began around the time the bitcoin ETF was confirmed, and is thought to be whales positioning for an ethereum futures ETF announcement,” Farthing said, referring to large holders of the digital tokens.
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However, cryptocurrency is unique as it is typically decentralised so there is no control from government interference. Cryptocurrency uses something called a blockchain.
At the time, the ‘doge’ meme was gaining popularity online, and so Billy and Jackson adopted the meme as the face of their satirical payments system, and launched Dogecoin in 2013.
Ben Caselin, head of research and strategy at cryptocurrency exchange AAX, says, “Rather than simply dismissing the hype outright, it’s important to realize that what we’re seeing is the mass movement of traders new to crypto moving into space.”
Ticker Security Last Change Change % COIN COINBASE GLOBAL, INC. 337.05 -7.40 -2.15%
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The market cap of Shiba Inu has raced past the $5.22 billion mark. The token had hit a high of $0.00001482, but later on gave up some gains.
While fluctuations are expected, Noble says this swing is a bit out of the ordinary. “I thought the market was maturing and these things would be less frequent and severe. Boy was I wrong,” he says.
Bitcoin’s latest big jump also isn’t anything new. “While in the long-term Bitcoin’s price has generally gone up, we experience a lot of volatility along the way,” says Kiana Danial, founder of Invest Diva.
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Price volatility: Significant price volatility in cryptoassets, combined with the inherent difficulties of valuing cryptoassets reliably, places consumers at a high risk of losses.
Corbet, S., B. Lucey, and L. Yarovaya (2018), “Datestamping the Bitcoin and Ethereum bubbles”, Finance Research Letters 26, 81–88.