Robert Steinadler, a month ago
What is better than a Bitcoin pump? A FLOKI pump after Elon Musk tweeted another meme! Why is FLOKI once again one of the hottest crypto assets and will SHIB and DOGE follow its example?
It was Wednesday when Musk shared a picture of a dog sitting in an office chair signing his new job contract. Floki’s new job is as the chief executive officer of Twitter. Musk’s dog drove a lot of attention to FLOKI with over 1.2 million likes and more than 87,000 retweets.
At the same time, the FLOKI team announced another exchange listing. Such a listing is usually a very important event that contributes to the success of a token. More exposure to traders means possible buying pressure and a rising market cap. In this case, FLOKI became available to 27 million traders worldwide.
The crucial point here is that Musk’s tweet might be a coincidence and not the driving factor for the rally that followed. In any case, the FLOKI community is more than pumped. Within three days the price rose by almost 200% and at the time of writing the rally has cooled down a little bit.
While FLOKI had a ball this week, SHIB and Dogecoin are still hovering in a waiting position. No tweet was good enough to lift both meme coins to a higher price level and initiate a long-lasting rally. Rumors are still running wild that the Shibarium beta release is right around the next corner. On the other hand, this isn’t exactly news as the Shibarium launch is being teased for quite some time.
Dogecoin jumped up about 7% when Musk shared the meme, but no rally followed the initial price movement. Instead, Dogecoin saw a correction immediately on Thursday. It remains to be seen if DOGE as well as other altcoins are being carried to new heights by the most recent BTC rally. Once more the mother of all cryptocurrencies rallied up to a price of over $25,000. However, with a golden cross in the daily chart and a death cross in the weekly, the situation remains ambivalent. Both chart patterns are contradicting each other and indicate a strong trend reversal. With Bitcoin reaching a new yearly high it seems that the bulls are in charge. According to some analysts, we are only out of the woods once the death cross is reversed in the weekly chart.
Mar 09, 2023
The Shibarium launch has been postponed a few times and the community marveled about what would happen once the launch commenced. It looks like we all are going to find out soon. The Shiba Inu team announced that the beta version will start this week. Since it is already Thursday it looks like we don’t have to wait much longer.
Mar 06, 2023
Don’t sleep on Binance Chain: it is the largest chain in terms of daily active addresses. In the final week of February, Binance unveiled their technical roadmap for 2023. Some of the areas of focus are a separate chain for data storage, increased transaction throughput and network decentralization.
Mar 01, 2023
Solana had another outage last weekend and it took over 20 hours until transactions were transmitted again. This has been one of many incidents the high-speed blockchain suffered from in the past 12 months. Another outage just happened in January but was less severe than the last crash of the network. The worst part is that the cause of the last incident is yet unknown and developers are working tirelessly to resolve the issue.
Feb 27, 2023
Solana had a difficult time after the downfall of FTX. The blockchain project was closely affiliated with SBF who was a major backer of Solana’s ecosystem. Crucial infrastructure like Serum (SRM) was depending on him. With Solana’s DeFi sector slowly recovering from that blow many community members were enthusiastic at the beginning of 2023. The price action was also more favorable but recently Solana experienced yet another setback.
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