Memecoin Floki Inu targets Londoners in new advertising campaign

Although doggy-inspired meme coins are generally viewed with suspicion, the recent success of Shiba Inu demonstrates investor appetite for them exists.  However, not all Dogecoin clones are equal. Shiba Inus success is partly down to its developing ecosystem, including a DEX, NFTs, staking, and supporting tokens in $LEASH and $BONE, which are live and operational right now.  With Floki Inu lacking similar functionality, are the people behind it wasting their advertising spend?Is Floki Inu the next Dogecoin?  Dogecoin‘s monumental rise earlier this year saw it post +15,000% gains in the five months to May. For that reason, it’s understandable that people are looking to copy the original.  At present, theres no shortage of doggy-themed tokens being launched, including the newest kid on the block, FlokiGravity, up 290,000% today. Or Baby Floki Billionaire, which is relatively more established, having started on Binance Smart Chain on October 3, making a 1,300% run-up from launch to its all-time high on Saturday.  Rightly or wrongly, as eluded to above, a significant aspect of their appeal is the millionaire-making potential they are seen to have.  Keen to cash in, the team behind Floki posted a tweet on October 6 promoting their advertising campaign. It centers around the tagline “Missed Doge? Get

2021-11-01Deep Dive

Dogecoin, Shiba Inu, Dogelon Mars Lead the Pack of 45 Doge-Like Tokens Capturing Astronomical Gains

2021 has been the year of decentralized finance (defi), non-fungible tokens (NFTs), and meme tokens as well. During the first week of August, roughly 30 dogecoin-like crypto assets existed and today, there are now 45 tokens with the terms “dog,” “shiba,” and “inu” in their names. Many of these coins have seen astronomical gains this year, outperforming some of the most sophisticated blockchain assets.  Who Let the Dogs Out? Doge-Like Meme Tokens Are No Joke When it Comes to Market Gains  Digital meme-based currencies have done extremely well this year in terms of fiat gains. At the beginning of the year, all eyes were on dogecoin (DOGE), when the original meme crypto skyrocketed in value. Dogecoin has gained a whopping 10,360% year-to-date which is much larger than BTC‘s 350% gain this past year and ETH’s 1,014% 12-month gains. After spending years below a U.S. penny per token, DOGE surged to $0.731 per unit six months ago on May 8.  Close to eight years ago the Dogecoin network launched on December 6, 2013, and today, there are 45 meme-based crypto assets with the terms “dog,” “shiba,” and “inu” in their names. Thats 15 more canine-coins than the count Bitcoin.com News recorded during the first

2021-11-01Deep Dive

90% of Coinbase Ventures Capital Deployed in 2021: Report

Since its inception in April 2018, Coinbase Ventures has surfaced as one of the most active VC investors in the crypto realm with respect to deal count.  A new report by the San Francisco-based cryptocurrency exchange Coinbase revealed that its venture arm (Coinbase Ventures) had completed a total of 49 investments in the Q3 of 2021, averaging a new deal almost every two days.  The figures have increased by 28 investments made in the previous quarter and 24 in the first quarter of the year. The Ventures portfolio size, as of Q3, featured more than 200+ organizations and projects.  Coinbase Ventures Growth Trajectory  It is important to note that investments from Coinbase Ventures have remained unfazed by the market lull in the second quarter of this year. Despite prices tanking as FUD engulfed the crypto market, Ventures remained one of the busiest venues in the US. The latest findings also pointed that 90% of the capital invested by Coinbase Ventures has been deployed in 2021 YTD on a cumulative basis.  This trend exhibited the increasing momentum of the organization as it approaches its fourth year of operation. Also worth noting is that 50% of the new unique “logos” in the portfolio have also emerged this

2021-11-01Deep Dive

Huge Shiba Inu Billboard Appears in Times Square

A gigantic digital billboard promoting the Shiba Inu cryptocurrency has popped up in New York Citys Times Square.  The display reads: “We will reach the moon soon,” referring to the widely used slang phrase in the cryptocurrency community.  Shiba Inu is not the first meme coin to land in Times Square. Earlier this year, the proponents of Dogecoin and Safemoon also bought ad space in one of the busiest pedestrian areas of the world when the above-mentioned cryptocurrencies were at their respective peaks of popularity.  The price of a single Times Square billboard can reach $50,000 for a one-day program.  While Shiba Inu has made significant strides in terms of exchange listings over the past two months, it is still challenging to buy it in New York due to stringent regulations. Members of the community even went as far as creating a Change.org petition in order to allow New Yorkers to purchase the high-flying meme cryptocurrency on Coinbase.  For more blockchain news, please download WikiBit- the Global Blockchain Regulatory Inquiry APP.

2021-11-01Deep Dive

Celebrities are embracing NFTs in a big way

The nonfungible token (NFT) market is growing. According to a new report by analytics platform DappRadar, NFT trade volume soared past $10 billion during the third quarter of 2021, a sevenfold increase from the previous quarters figure. Although a significant slice of that action comes from runaway hits like NBA Top Shot, CryptoPunks and gaming platform Axie Infinity, NFT use cases are rapidly proliferating as creators recognize their potential.  In the not-too-distant past, celebrities keen to profit from the burgeoning crypto scene had few options. Mostly, they were limited to shilling an initial coin offering (ICO) or investing their own money in a startup they deemed promising. Thanks to NFTs, however, they can now leverage their star appeal by releasing sought-after digital collectibles representing, well, just about anything: artwork, albums, trading cards, or merchandise. These tokenized collectibles can then, in turn, be traded on the open market among fans and investors.The music industry is a perfect proving ground for NFTs  From musicians and athletes to actors and supermodels, prominent celebrities are busy minting and auctioning a dizzying array of blockchain-based assets and commodities that appeal to the digitally-savvy crowd. Through NFTs, public figures can connect with fans in a digital realm and

2021-10-31Deep Dive

Over 400,000 people want Robinhood to list Shiba Inu (SHIB)

Shiba Inus recent price surge has led thousands of the supporters of the meme coin to petition Robinhood to list the asset on its trading platform.Traders pressuring Robinhood to list Shiba Inu  Available information on Change.org has shown that over 400,000 people have signed the petition to see the coin listed on Robinhood. As of press time, the number stood at 403,927.  Notably, if the petition is able to garner 500,000 signatures, it would become one of the most signed petitions on the Change.org platform.  The petitions originator, Tristan Luke, stated that the petition “is designed to kindly request Robinhood to please list Shiba inu coin to trade.”   Luke, to buttress his point, revealed that Robinhood could replay the level of success it had with Dogecoin by listing Shiba Inu too as they are both meme coins.  In his words, “Dogecoin has been a huge success for Robinhood, and its investors. We have all enjoyed the ride. Shiba Inu is a similar meme coin with genuine potential, up 2,000% in the last weeks.”  Youll recall that Robinhood made a fortune from its listing of Dogecoin earlier in the year when the asset went on a bull run that was galvanized by its listing on the

2021-10-31Deep Dive

Bybit announces ‘Deposit Blast-Off,’ $3,000 in rewards for those depositing DOGE, BTC, AXS, and more

Crypto exchange Bybit is rewarding users who deposit altcoins and trade on its exchange. Called the ‘Deposit Blast-Off,’ the contest is currently ongoing and runs until November 18—rewarding new with up to $3,000 in bonuses.  “And just to sweeten the deal, if your trading volume adds up to more than $100,000 before Nov. 25, 2021, youll be included in an exclusive lucky draw featuring a grand prize of 0.1 BTC,” adds Bybit in a post.  Once registered, users must make all deposits within seven days for them to be considered in the calculation of your reward. Any deposits made after this timeframe will not be considered in the calculation of the reward.  For example, if a user makes a first-time deposit comprising $5,000 worth of BTC and $1,000 worth of ETH within seven days of the event registration, their total eligible deposit is $6,000. User A will therefore receive a 180 USDT bonus and a 10 USDT coupon.  The list of assets that are eligible as deposits: BTC, ETH, BIT, USDT, XRP, DOGE, DOT, EOS, LTC, XLM, AAVE, AXS, CHZ, COMP, DYDX, LINK, MANA, MKR, SUSHI, UNI, YFI.  There are some caveats to the deposit event: All rewards will be distributed within 15 working days

2021-10-31Deep Dive

CryptoPunks NFT “Sells” for Over $500M

In a questionably large sale, CryptoPunk #9998 has sold for more than $532M, according to the projects sales feed.  CryptoPunks Token Sells for $500 Million  The CryptoPunks NFT sold for 124,457.07 ETH, an amount worth $532,414,877.01 at the time of sale.  Given the unusually large transaction size, the crypto community is speculating on the nature of the purchase. One suspicious element is the fact that the CryptoPunk was sold back to the original address that held it within a matter of hours. This means that the buyer and the original holder were most likely one and the same.  Some have speculated that the funds for the purchase could have been obtained through a flash loan or a flash loan exploit. A related event took place in February when a flash loan used to buy a CryptoPunk was reversed, leaving the original holder with just a fraction of the final sales price.  However, in this case, the loan would have been used by the holder to send the token to themselves, not to steal the token. A flash loan may have helped to avoid transaction fees.  What Possible Motives Are There?  Given the lack of clear motives, it is possible that the owner is moving the NFT for

2021-10-31Deep Dive

Report: Crypto investors score poorly on basic stock market knowledge

In order to gauge retail investors stock market knowledge, the online casino reviewer GamblersPick spoke to more than 1,000 people who have invested at least once.  According to the survey results, respondents who owned cryptocurrencies scored significantly lower than investors who didnt own any crypto.  The results also revealed that 70% of digital investors have invested in Bitcoin (BTC), compared to 39% who invested in Litecoin (LTC), the second most popular coin.Top Portfolio Choices  The study first asked the participants about what theyve invested in and discovered that 69% of respondents owned cryptocurrencies.  In continuation, the report looked at which stocks and cryptocurrencies are most popular among retail investors.  “GameStop was the most popular stock for our respondents in the last six months. A third of investors had put their money on this company,” read the report, adding that the second most popular choice was another “meme stock,” BlackBerry.  As far as cryptocurrencies go, the worlds largest crypto surfaced as the most popular by far, with 70% of digital investors responding they bought Bitcoin.  While 39% of respondents said that they invested in Litecoin, 37% reported they bought Ethereum (ETH).How much do newbie investors know?  “Swathes of new investors have entered the stock market since the pandemic, with

2021-10-30Deep Dive

CryptoPunk NFT sold for over $500 million in suspicious sale

In what would rank as one of the most expensive sales in the history of NFTs, a CryptoPunk NFT has just been sold for over $500 million, though analysts have begun to raise questions about the legitimacy of the sale.CryptoPunk 9998 sold for over $500 million  According to the CryptoPunk sales feed, the said NFT CryptoPunk #9998 was sold for $532 million, which means it is the most expensive sale in the history of Cryptopunks.  While this is supposed to be celebrated, the crypto community has met the unusual transaction with doubt, speculating that there could be a kind of manipulation in the sale.   Members of the community have pointed out that the new buyer and the previous holder could be the same individual because the CryptoPunk NFT was sold back to the original address that was holding it previously.  Another school of thought believes that the purchase could have been made through a flash loan. If this was the case, it means the sale of the NFT might have been reversed.  A similar case had happened earlier in the year when this method was used to purchase an NFT which left the holder with an intangible amount of the sales price.Crypto community reacts  With

2021-10-30Deep Dive
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