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Here’s Why SHIB Price Has the Potential to Go To The Mars.

Mark Brennan
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Here’s Why SHIB Price Has the Potential to Go To The Mars.

According to Shibburn official twitter account, a total of 177,609,733 $SHIB tokens have been burnt with 55 transactions, in the last 7 days.

On the other hand, the number of Shiba Inu token holders has surpassed 1 million, that’s a significant advance in adoption for the meme coin.

On one side, community is engaged in burning tokens, by sending it to dead wallet. Burning definitely will decrease the circulating supply of the token and holders keep on increasing, showing the increase in demand. Whenever demand increases, supply decreases, the price shoots.

Furthermore, the online merchants around the globe are now accepting Shiba Inu coin as a payment option. This is increasing utility case of the token.

According to SHIB developer, Shytoshi Kusama, SHIB token supply is designed to be static. Means there is no way to permanently delete the token from circulating supply, but utility.

By keeping in mind, Utility as a burning mechanism, Shytoshi Kusama, in his recently published medium states that:

“Now listen, at first glance, burning Shib seems to be the only way that Shib will grow, but by this time next year, you’ll see that being able to spend Shib has it’s place in total world Shibanation. “

In short, decreasing supply, increasing demand and utility, all supports the extreme bullish bias for the token. So, I believe, SHIB Token Price has the potential to go to not the Moon only, but the Mars.

 

El Salvador Just Bought the Dip. 100 Extra Coins Acquired With a Discount

Mark Brennan
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El Salvador Just Bought the Dip. 100 Extra Coins Acquired With a Discount

Bitcoin, the world’s largest digital currency, on Friday fell as much as 7.8% to $54,377, its lowest since Oct. 12. It was on track for its biggest one-day drop since Sept. 20 and is now down more than 20% since touching a record high of $69,000 earlier this month.

El Salvador has taken advantage of this sell-off and acquired 100 extra coins with a discount.

This news is confirmed by President Bukele’s Tweet on Black Friday, which states:

As reports of a new Covid-19 strain spread, tanking the price of many cryptocurrencies, El Salvador bought the dip. The country has added 100 more bitcoins to its treasury despite a recent warning by the International Monetary Fund (IMF), bringing the total number of bitcoins purchased to 1,220.

Bitcoin officially became legal tender in El Salvador in September; three months after the country’s legislature passed the Bitcoin Law.

On Nov. 20, Bukele said that the country is going to build an entire city based on bitcoin, during a presentation at Bitcoin Week in El Salvador.

Financial Experts Price Expectations in the Limelight:

The discovery of a new coronavirus variant, B.1.1.529, may have weighed on Bitcoin, the world’s largest digital currency, but financial experts expect its value to “double over the next 12 months.”

The fall in Bitcoin value should be seen as a major buying opportunity, said Nigel Green, chief executive and founder of deVere Group.

Bitcoin is often referred to as “digital gold” because like the precious metal it is a medium of exchange, a unit of account, non-sovereign, decentralized, scarce, and a store of value.

Bitcoin is widely regarded as a shield against inflation mainly because of its limited supply, which is not influenced by its price.

Whales are Excited to Buy the Dips: Most Aggressive Accumulation in Play as 6,770 BTC Added in Whale Wallets in Less Than 2 Weeks

Mark Brennan
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Whales are Excited to Buy the Dips: Most Aggressive Accumulation in Play as 6,770 BTC Added in Whale Wallets in Less Than 2 Weeks

Bitcoin whales, defined as addresses or clusters of addresses holding between 100 and 10,000 $BTC, have reportedly accumulated a whopping $2.36 billion worth of the flagship cryptocurrency after its price started dropping, data shows.

According to cryptocurrency analytics firm Santiment, bitcoin whales accumulated about 40,000 BTC when bitcoin’s price dropped to a $56,000 low last week. Considering bitcoin is now trading at around $59,000 per coin, whales have accumulated well over $2.3 billion of the cryptocurrency.

Bitcoin has been on a correction course over the past couple of weeks and it has turned out to be an immense opportunity for BTC whales to buy the dip, particularly one whale that added BTC 6,770 worth $384.29 million to their kitty in less than two weeks. The whale, who happens to be the third-largest BTC whale, has been buying Bitcoin in chunks for nine straight days, their latest purchase being on Thursday when they added another BTC 105 (worth $5.96 million) to their wallet.

This particular whale appears to be pretty active, buying and selling the asset whenever there is a sharp dip or appreciation, but given the rough patch Bitcoin has been recently, the whale has been on a BTC accumulation spree, as CryptoQuant’s analyst Venture Founder commented on Twitter. Starting from November 12, the whale has made nine consecutive purchases as Bitcoin’s price was declining. The first one, for BTC 1,123, came at just over $64,000, while the last one – from Thursday, was at a price tag of $57,900 and was for BTC 105.

Famous Whale Wallet Named “Gimli” Eat the Dip and Just Bought $10.88M Worth of SHIB

Mark Brennan
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Famous Whale Wallet Named “Gimli” Eat the Dip and Just Bought $10.88M Worth of SHIB

According to Whalestats Tweet, The renowned whale wallet “Gimli” just ate the dip and secured $10.88M worth of SHIB. (276,590,889,210 SHIB Tokens)

Transaction stats can be seen at:

https://www.whalestats.com/transaction/ethereum/0x398d3b0807520b273214dba6bdc72e4c016f8d26f00a9b091a2191e2bbf138b9

Gimli now holds total of 1,154,724,743,119.05 Shiba Inu token valued at $46,412,280.

Shiba Inu Coin is now trading at the price of $0.00004061, up 5.23% for the day, with current market capitalization of 22.196M. According to coinmarketcap.com data, the current market rank of the token is #12, in terms of market capitalization. This means Shiba Inu is now 12th largest crypto currency in the world.

Analysis of the top 1K ETH whales:

Top 3 transacted tokens were CRO, MANA, and SHIB.

Major SHIB News Today:

Major tech retailer Newegg Commerce Inc. (NASDAQ:NEGG) has officially confirmed that it will accept Shiba Inu (CRYPTO: SHIB).

In a recent tweet, Newegg said, “Coming soon to Newegg…$SHIB”.

The internet retailer added Bitcoin (CRYPTO:  BTC) as a payment option for customers in 2014. In April of this year it also added Dogecoin (DOGE) to its list.

Newegg presently supports 11 cryptocurrencies.

Last week, the official Twitter handle of Newegg tagged Shiba Inu’s official profile and its lead developer, asking for a direct message and indicating the retailer has “got a question for ya.”

According to a recent analysis, an investment in Shiba Inu of just $15 would make the investor a millionaire if done early enough in the coin’s history.

Newegg is one of the leading tech-focused e-retailers in North America, with a global reach in Europe, Asia Pacific, Latin America, and the Middle East.

BabyDoge Just Surpassed Record 1 Million Holders, According to Bscscan.com Data

Mark Brennan
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BabyDoge Just Surpassed Record 1 Million Holders, According to Bscscan.com Data

BabyDoge Official Twitter account just posted 1 million holders celebration tweet.

According to Bscscan.com, BabyDoge just surpassed 1 million holders’ addresses.

At the time of writing, BabyDoge is trading at $0.00000000204, up over 1.68% for the day. The coin hit low price of $0.000000001928 in 24 hours and the high price is recorded at $0.000000002046. The volume exchanged during the day is equal to $7.59M. The coin current market capitalization is $545.779M, securing rank #2872 in reference to market capitalization.

According to coinmarketcap, the self reported circulating supply is recorded as 268,383,459.89B BabyDoge (not verified), whereas max supply is reported as 420,000,000,000,000,000.

Important to Note: BabyDoge is deflationary token, and is designed to become more scarce over time, which will benefit Baby Doge price.

BabyDoge is a new crypto birthed by fans of the DogeCoin online community. Baby Doge seeks to impress his father (Dogecoin) by showing his new improved transaction speeds & adorableness. He is hyper-deflationary with static reflection that rewards holders, so more baby doge coins are being automatically added to your wallet each transaction. Simply love, pet and hold as 5% from each transaction is automatically redistributed to baby doge holders.

BabyDoge was launched in June 2021 and has an ambitious roadmap that includes further efforts for pet charity, NFT creation, GameFi and more.

Who Are the Founders of BabyDoge?

As with other meme cryptocurrencies, it is unclear who the creators and main team behind BabyDoge are. These developers built BabyDoge using the Binance Smart Chain to create an ecosystem that is still Ethereum-compatible. Since its inception in June 2021, BabyDoge has amassed a community of 250k token holders, 85k Telegram members, 85k Twitter followers, and 45,000 Instagram followers.

What Makes BabyDoge Unique?

BabyDoge has real world utility in its pipeline, which is something uncommon in many meme cryptocurrencies. It features a BabyDoge debit card and mobile application, partnerships with top e-commerce platforms like WooCommerce, Shopify and Magento, and charity tie-ups with animal rescue and shelters like Paws with Cause, Furkids and Best Friends.

Tanzania planning to launch their own digital currency

Mark Brennan
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Tanzania planning to launch their own digital currency

Just few weeks ago Nigeria launched its CBDC eNaira which became a great success. eNaira successful launched creates a FOMO in Africa and now Tanzania is the next African country to launch it’s CBDC.

Florens Luoga is Governor of the Bank of Tanzania. He issued a statement on Thursday at a finance conference in the capital, Dadoma.

“To ensure that our country is not left behind the adoption of central bank digital currencies, the Bank of Tanzania has already begun preparations to have its own CBDC”

Tanzania’s central bank banned cryptocurrencies in November 2019 but now current president insisted on becoming part of this change rather then resisting it. Tanzania’s $63 Billion economy relies on cash transactions. Introduction of CBDC will convince citizens of Tanzania to use their own digital currency.

 

Activision is Not Our Gaming Studio, Says Shytoshi Kusama – SHIB Developer

Mark Brennan
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Activision is Not Our Gaming Studio, Says Shytoshi Kusama – SHIB Developer

SHIB Developer Just Posted the Following Tweet:

This tweet came on the back of SHIB Developer, Shytoshi Kusama major announcement which states that:

“Ladies and Gentleman, Shibians of all ages, I’m happy to announce that the consultant who will lead the charge for the Shiba Inu Games version of the Shiboshi game is none other than William David Volk. (Good job to those of you who decoded our messages correctly.) William has been an incredible person to work with already and we’ve just begun.”

After this announcement, most of the SHIB followers, fans and holders started to think that Shytoshi Kusama has collaborated with Activision, just because, William David Volk is the former Activision developer. But this tweet from SHIB Developer has cleared the actual scenario.

Shiba Inu has partnered with game developer William David Volk to consult on its play-to-earn NFT game, previously codenamed the Oshiverse, as the latest expansion in the SHIB ecosystem.

After teasing the announcement yesterday, Shytoshi Kusama, the Shiba volunteer project lead, gave more details in a Medium post entitled “The Future of Gaming is Shib”.

Volk became the VP of Technology at Activision in 1991, before moving to the likes of PlayScreen and Future Realities.

SHIB NFT Game Update:

Aside from Volk’s appointment, Shytoshi also revealed that Shiba Inu has partnered with a AAA game studio to create its NFT game, likely using the Shiboshi NFTs. He did not reveal which studio this was due to a current non-disclosure agreement. However, Shytoshi did state that it has worked with Disney and Warner Bros in the past.

The lead was full of praise for Volk. “William is no ordinary game developer,” Shytoshi said. “He’s a true visionary with decades of top-notch high-quality experience on the corporate side, and also on the independent side having run his own game studio as well.”

Kieran Gibbs Collaborated with XBTO to Convert Half of His Salary to Bitcoin

Andrew MacGill
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Kieran Gibbs Collaborated with XBTO to Convert Half of His Salary to Bitcoin

Major League Soccer Star, Kieran Gibbs, has revealed his plan to convert half of his income to bitcoin (BTC) via his Tweet.

Gibbs plays as a left-back for IMCF and announced his decision to play for the David Beckham-owned team at the end of March 2021. Gibbs, 31, will utilize the crypto finance firm XBTO in December 2021 in order to convert 50% of his USD salary into BTC. XBTO says Gibbs won’t be charged conversion fees and the funds will be sent to his bitcoin wallet.

In a statement sent to Bitcoin.com News, the IMCF star left-back Gibbs explained that he has been a bitcoin supporter for a while.

“I’ve been a fan of bitcoin and the crypto space for some time now, and I believe they have the ability to break down huge social and economic barriers — crypto are for everyone,” Gibbs detailed. “I hope my partnership with XBTO can further the awareness and education of cryptocurrencies and their tremendous potential to positively impact global societies,” the soccer player added.

Back in April, 2021, NFL Player for the Kansas City Chiefs, Sean Culkin, said that he will convert 100% of his salary to bitcoin.

He was reportedly the first NFL player to convert all his salary to the cryptocurrency.

Culkin posted the following tweet in April:

“I fully believe bitcoin is the future of finance and I wanted to prove that I have real skin in the game — not just trying to make a quick buck. I will be converting my entire 2021 NFL salary to bitcoin.”

IMF and Bank of England Governor Expressed Some Serious Concerns Over El Salvador’s Adoption of Bitcoin as Legal Tender

Mark Brennan
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IMF and Bank of England Governor Expressed Some Serious Concerns Over El Salvador’s Adoption of Bitcoin as Legal Tender

IMF and Bank of England Governor Andrew Bailey Expressed Some Serious Concerns Over El Salvador’s Bitcoin adoption.

El Salvador became the first country in the world to adopt Bitcoin as a legal tender in September. However, the International Monetary Fund (IMF) has warned of the risks to financial integrity, consumer protection, and financial stability

“Given Bitcoin’s high price volatility, its use as a legal tender entails significant risk to consumer protection, financial integrity, and financial stability,” IMF said in a statement, adding its use also “gives rise to fiscal contingent liabilities.”

The IMF statement comes just days after Nayib Bukele, the Bitcoin-friendly president of El Salvador, said at a Bitcoin investment summit on Saturday that his country plans to build the first “Bitcoin City”.

The city will be located in the eastern department La Unión, between the municipalities of La Unión and Conchagua.

The initial costs for developing the so-called “Bitcoin City” will be funded at the outset by the issuance of Bitcoin-backed billion-dollar bonds in 2022.

The government deposited $30 as ‘seed money in every El Salvadorean’s Chivo wallet to propel bitcoin transactions. By the end of September, nearly three million people (over 45 percent of the population) had downloaded the Chivo. IMF warned the see-sawing prices of Bitcoin could lead to losses in wealth for businesses and households.

On the other side, Bank of England governor Andrew Bailey also has expressed concerns over El Salvador’s adoption of Bitcoin (BTC) as legal tender.

Bailey argued that ​​El Salvador’s decision to adopt Bitcoin as a currency was alarming because consumers are likely to suffer from the cryptocurrency’s extreme volatility.

Trading around $43,000 on the first day of El Salvador’s Bitcoin adoption as legal tender, Bitcoin surged to a new historical high above $68,000 on Nov. 9. BTC’s price has significantly tumbled since then, with Bitcoin trading at $54,626 at the time of writing.

China continues crackdown on crypto as famous Chinese crypto news site shuts down.

Mark Brennan
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China continues crackdown on crypto as famous Chinese crypto news site shuts down.

ChainNews one of the leading crypto news website from China is no longer online. ChainNews on 15 November announced on twitter that site will be down for 8 to 10 hours for schedule maintenance.

https://twitter.com/ChainNewscom/status/1460181985251393537

ChainNews is offline for past 10 days. Feng Liu told CoinDesk in a Twitter message that ChainNews has shut down. He refused to comment further on this latest development.

China on 24 September made a statement that it will take censorship actions toward crypto news site. China cracks down on crypto related businesses is increasing with passage of time and now taking ChainNews down proves China strict censorship action against crypto news media. Odaily, an online site covering cryptocurrency and non-fungible tokens, has also gone offline in recent days. Neither company immediately responded to a request for comment on Wednesday.

 

 

 

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