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Justin Bons, Chief Investment Officer at Cyber Capital Europe’s oldest cryptocurrency fund, tweeted that out of the top 50 crypto assets, 32 are decentralized crypto assets on the market Shiba Inu (SHIB) and Dogecoin (DOGE) are on the list.
He tweeted, “Out of the top 50 cryptocurrencies;only 32 are technically decentralized.” Even though both the dog-themed meme tokens are decentralized, there is a slight difference between them. Justin said Doge is a single client and lacks on-chain governance.
Twitter CEO Elon Musk’s favorite, Dogecoin, was one of the strongest players in this weekend’s crypto market. Currently, DOGE is trading at $0.088, up by 3.44% in the last week.
Musk prompted Dogecoin in different ways, like with his tweets and by posting and promoting various memes about Dogecoin on social media. On Feb 14, 2021, a tweet by Musk created hype in the Doge market that “Dogecoin is the people’s growth.” On May 13, 2022, another tweet helped the entity to raise its profit value, saying, “It has potential as a currency.”
Musk’s deal with Twitter positively impacted Shiba Inu and Dogecoin. The SHIB community was trying to prove SHIB was not just a funny memecoin but that it would also be considered a leading crypto start-up company.
Recently Forex Suggest found a foreign exchange data aggregator that revealed a report that Dogecoin is the third-fastest growing digital asset at lowering its carbon emissions by 25% in the last year.
As per CoinMarketCap, the crypto market is trading with reasonable growth rates despite an imminent global recession following rate hikes by the Federal Reserve. According to CoinMarketCap, Shiba Inu’s currently trading at $0.000012, up by $1.26% in the past 24 hours.
SHIB, with 4.43 million monthly searches globally, secured the third position among the top google searched cryptocurrencies in 2022. Meanwhile, Bitcoin and Elon Musk’s favorite Dogecoin remained in first and second position, respectively. Meanwhile, Shiba Inu beats Dogecoin in the US with 1.29 million monthly searches.
Recently Shiba Inu revealed its creative artwork concept that may help to gain huge profits. Shib Inu collaborated with visualization studio The Third Floor to make this creative concept successful,
According to the Shiba Inu ecosystem blog post, “The Metaverse is set to become the culmination of Shiba Inu’s history as a community, virtually displayed, in a layer of beautiful visuals.”
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
