Shiba Inu (SHIB), a meme coin with a dog motif, has had a fantastic week with a 53.8% increase over the last week. David Gokhshtein, a well-known influencer, and expert in the cryptocurrency space has intervened to share his viewpoint on the most recent favorable developments for both top-tier coins. Mr. Gokhshtein acknowledged that rival Dogecoin (DOGE) seems like it wants to break out even if he anticipates Shiba Inu (SHIB) to experience another bull run.
- Shiba Inu (SHIB), a dog-themed meme coin, has had a great week with a 53.8% gain from the previous week.
- Mr. Gokhshtein acknowledged that rival Dogecoin (DOGE) seems like it wants to break out even if he anticipates Shiba Inu (SHIB) to experience another bull run.
- To move virtual money around, Dogecoin, at its core, is essentially a shared database and network to add verified transactions to that database.
- Crypto is easy, but people are complicated, said the DOGE founder.
First, on August 15th, the crypto influencer tweeted that the Shiba Inu looks like it’s gassing up for another leg during his live stream. The possibilities are unlimited as Shiba Inu (SHIB) currently trades close to an important resistance level and both “#ShibaInu” and “Shiba Eternity” are trending on Twitter (NYSE: TWTR) for the second straight day.
Due to the anticipation around “The Merge” and Shiba Inu’s newest game, Shiba Eternity, which has already climbed into the top 50 on the Apple (NASDAQ: AAPL) Store, the meme coin is driving the cryptocurrency surge this week. Additionally, due to the upcoming SHIB clothing line and acceptance by the two major food delivery services in the US, Uber (NYSE: UBER) Eats US and DoorDash, retail adoption is expanding quickly. Not to mention Welly’s, an Italian restaurant with a Shiba Inu (SHIB) theme that has intentions to expand to other nations soon. The globe will eventually have to get used to seeing the adorable face of the Japanese dog as retail acceptance increases.
Billy Markus, also known as Shibetoshi Nakamoto, the creator of Dogecoin (DOGE), intervened to remind the DOGE army of the project’s lighthearted nature. To move virtual money around, Dogecoin, at its core, is essentially a shared database and network to add verified transactions to that database. Crypto is easy, but people are complicated, said the DOGE founder.
Shibetoshi Nakamoto’s viewpoint is not shared by everyone, theGazetteNGR learned, though, as the Dogecoin (DOGE) developers have been working hard to implement a better system. First off, the network prices were drastically reduced just a few weeks following the core update. Second, the eagerly anticipated Dogechain is expected to boost network security while also enhancing its compatibility and interoperability with other blockchains.
Dogecoin (DOGE) is currently trading at $0.084555, up 21.2% week over week. Moreover, just a few days after Polkadot (DOT) forced the canine currency to vacate, the top dog coin recaptured the #10 spot by total market capitalization. It might take some time for Dogecoin (DOGE) to reach the moon because the meme currency still needs to recover from its all-time low of $0.73 on May 8, 2021.
On the other hand
- Despite support for the dog meme coin, Elon Musk, also known as “The Dogefather,” is hit with a $258 billion lawsuit for creating the DOGE pyramid.
- The Shiba Inu (SHIB) programming team has had trouble giving out $BONE prizes, in part because Ryoshi’s Vision processing is taking too long.
Why It’s Important
The bull race for meme coins could result in a huge increase in the market valuation of the entire cryptocurrency industry.
