The cryptocurrency market has had a pretty busy week, featuring a flurry of interesting developments. From the rise of the MAGA meme coin to Max Keizer’s ominous market crash prediction to the Shiba Inu’s peak burn rate, there’s been no shortage of excitement. Furthermore, Dogecoin has found a new ally in luxury car manufacturer Ferrari, while Edward Snowden has once again staked his support on Bitcoin.
Trump-Inspired MAGA Coin Outperforms Dogecoin, Shiba Inu
A new meme coin, MAGA TRUMP/USDrecorded a notable increase of 20% in the last 24 hours, overshadowing established operators like Dogecoin DOGE/USD and the so-called “Dogecoin Killer”, Shiba Inu SHIB/USD. Both DOGE and SHIB managed to rise only 2% on Friday, while MAGA is currently trading at $3.63. MAGA Coin was launched in August, with the goal of “Making Cryptocurrency Great Again.” Read the full article here.
Max Keizer Predicts Market Crash and Bitcoin Boom
Bitcoin advocate Max Keizer warned of an impending market catastrophe similar to the 1987 crash. In a tweet, Keiser predicted that Bitcoin, considered the ultimate safe haven, will cross the $500,000 mark. He also suggested that Bitcoin exchange-traded funds (ETFs) and domestic Bitcoin mining operations could be subject to seizures by the US government. Read the full article here.
See also: Xbox’s Phil Spencer announces first day release of all Activision games on Xbox Game Pass: Call Of Duty
Shiba Inu’s burning rate increases
The Shiba Inu ecosystem has seen a dramatic 2,730% increase in token consumption rate over the past 24 hours, with a single transaction burning 85 million tokens. Also noted was the movement of 3 trillion Shiba Inu tokens to entities including Coinbase, Gate.io, Robinhood, and some private wallets. Read the full article here.
The value of Dogecoin strengthened by Ferrari Acceptance
Dogecoin saw a 4% increase in value to $0.090 following reports that luxury sports car maker Ferrari may start accepting the cryptocurrency as payment. Social buzz around Dogecoin has increased, with its social dominance score increasing by 125% in a week. Read the full article here.
Edward Snowden supports Bitcoin
Edward Snowden, the famous former National Security Agency contractor, reiterated his support for Bitcoin Bitcoin/USD, hailing it as the most significant monetary advance since the creation of coinage. Snowden has already expressed considerable interest in Bitcoin and often shares his thoughts on the topic. Read the full article here.
Read next: US says Houthi missile attack on ship carrying ‘tons of fertiliser’ caused ‘environmental disaster’ in the Red Sea
Image via Shutterstock
Designed by
Benzinga NeuroBy
Navdeep Yadav
The GPT-4-based Benzinga Neuro content generation system leverages Benzinga’s extensive ecosystem, including native data, APIs, and more to create rich, timely stories for you. Learn more.