doge – CetoEX News Inform Trends & Happenings

Solana: BONK Drops 66%, Is It Still Comparable to SHIB, DOGE?

Howdy — Sun, 15 Jan 2023 04:16:47 +0000

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Cetoex News – Solana’s (SOL) BONK coin had an explosive debut. The token rallied by more than 4000% within its first week. However, things seem to be changing for the new crypto project. BONK has plummeted by 66.4% in the last seven days. Moreover, the token is down by 4.1% in the last 24 hours. Furthermore, BONK’s trading volume dropped by 51% in 24 hours. Nonetheless, the token is still up by 939% in the 14-day chart.

Source: Coingecko

Nonetheless, the hype around Solana’s memecoin is still evident. According to LunarCrush, BONK’s social mentions have increased by 4788% and social engagement has spiked by 1953%.

Source: LunarCrush

Memecoins rely a lot on social media for relevance and popularity. However, BONK’s price seems to be suffering even with strong social metrics. It should be noted that BONK’s initial rally is attributed to 50% of its supply being airdropped to various Solana users. It is possible that a bunch of recipients sold their BONK airdrops to make a quick profit.

However, BONK’s growth also had a positive impact on Solana. SOL saw a 63.5% price increase from $9.97 on January 2 to $16.30 on January 10, 2023.

How does Solana’s memecoin compare with Shiba Inu and Dogecoin?

Dogecoin (DOGE) is the original memecoin, while Shiba Inu (SHIB) is one of the most popular crypto projects out there. However, BONK’s growth completely eclipses that of SHIB and DOGE.

According to CoinGecko, Solana’s BONK saw a 300% return in the first eight days. SHIB on the other hand completed the feat in 141 days, while DOGE did it in 1253 days (almost 3.4 years).

Moreover, Solana’s BONK sent 50% of the supply to SOL holders, compared to SHIB’s creator Ryoshi locking the first 50% of the tokens in Uniswap, and sending the other 50% to Ethereum co-founder Vitalik Buterin. Buterin burned 90% of the SHIB that was sent to him and donated $1 billion worth of tokens to India’s Covid relief fund.

At press time, BONK was trading at $0.000000939318, down by 3.2% in the last hour.

NEWS BY – CETOEX NEWS

Will Dogecoin fall if Elon Musk steps down as Twitter CEO?

Howdy — Tue, 20 Dec 2022 01:13:45 +0000

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Elon Musk, CEO of Tesla and the owner of Twitter, conducted a poll on the social media platform, asking people if he should step down as the head of the tech company. Being the Dogecoin (DOGE) proponent that he is, the popular coin dived with the possibility of Musk stepping down.

The final results of the poll have 57.5% agreeing with Musk stepping down. Musk has already said that he would abide by the results of the poll. Hence, it is very likely that he will step down as the Twitter boss.

Dogecoin (DOGE), being a memecoin, is dependent on social media engagement and mentions for relevance. Musk recently hinted at DOGE being incorporated into Twitter’s upcoming payment option. However, the possibility of Musk stepping down has caused concern among the DOGE community. Many are worried that the plans for DOGE being a part of Twitter’s payment option might be off the table. Consequently, the token took a turn for the worse. At press time, DOGE was down 16% in the weekly charts.

Will Dogecoin fall if Elon quits as Twitter CEO?

Firstly, if Musk quits as Twitter’s chief, he will still be the de facto owner of the platform. The busk still would stop with him. Therefore, it is unlikely that Twitter’s plans to incorporate DOGE in its payment platform are off the table. Chances are that the leadership would change, but plans would remain the same.

Moreover, Dogecoin’s recent plummet comes with a larger crypto market plunge. Bitcoin (BTC), the original crypto, also dived, falling below $17k again. Hence, the DOGE fall could have a lot of other reasons for tanking, apart from Musk’s hint at stepping down as Twitter’s boss.

With that said, it is still possible that DOGE could fall further if Musk quits as Twitter’s boss, as many of the token’s rallies stemmed from Musk’s support of the memecoin.

At press time, Dogecoin (DOGE) was trading at $0.078182, down by 0.1% in the last 24 hours. Moreover, the token is down by 89.3% from its all-time high of $0.731578, attained in Mat 2021.

Bitcoin, Dogecoin Predictions That Won’t Prevail in 2022

Howdy — Fri, 09 Dec 2022 01:39:01 +0000

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Cetoex News – Price predictions for Bitcoin and Dogecoin are aplenty in the markets as analysts churn them out every day. Bitcoin receives the highest predictions from analysts and Dogecoin isn’t far away in numbers either.

The market rally made almost every prediction reach their mark in 2021 due to the bull run but that isn’t the case in 2022. Almost all price rise predictions have fallen flat due to the bearish market conditions. In this article, we will highlight two Bitcoin and Dogecoin predictions that could never come true this year.

1. Dogecoin to $1

Source: Pixabay

The ‘Dogecoin to the moon’ phrase no longer commands attention in 2022. The most prominent price prediction for Dogecoin was that the meme-coin could beach the $1 mark in 2022.

Leading Dogecoin analyst Matt Wallace had exclusively predicted to Cetoex News in June that the meme-coin will touch $1 by the end of 2022. You can read Wallace’s prediction that Dogecoin will reach $1 in 2022 here.

Wallace also added that if his prediction turns out to be false, he would delete his YouTube channel. His YouTube channel ‘Final Stand‘ has close to 250,000 subscribers and gets more than 200,000 views per video.

However, Dogecoin is trading at $0.09 on Thursday and it has a slim chance of reaching $1 in the next three weeks. Dogecoin to $1 in 2022 is one prediction that might not turn true this year.

2. Bitcoin to $100,000

Source: Pixabay

Bitcoin to $100,000 price prediction entered the crypto sphere when BTC was nearing its all-time high of $69,000 in November 2021. Predictions were dominant on social media that Bitcoin will cross 100,000 by the end of 2021.

The same prediction remained during the Q1 of 2022 that made investors believe BTC is poised to reach an all-time high of $100,000 by end of the year.

BTC is currently trading at $16,800 and needs to spike 610% in three weeks to reach $100,000, which is unlikely. Therefore, BTC reaching $100,000 in 2022 is another prediction that might not come this year.

NEWS BY – CETOEX NEWS

Jim Cramer Says XRP, Solana and Dogecoin are Cons

Howdy — Fri, 09 Dec 2022 01:14:16 +0000

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Cetoex News – Since its inception, the cryptoverse has drawn a lot of criticism. Numerous government representatives discussed how Bitcoin [BTC] was the dark web’s currency. But as time went on, it became clear that BTC was much more than that.

While others remained skeptical, some people warmed up to the industry in the interim. Jim Cramer, the host of CNBC’s “Mad Money”, has spoken out frequently about his love-hate relationship with cryptocurrencies. Back on Aug 31, he urged all investors to avoid assets, including cryptocurrencies.

Recently, on Dec 6, he spoke on CNBC and advised all investors to sell their cryptocurrency holdings. Jim Cramer is back now, and he has something to say to everyone about cryptocurrencies.

Jim Cramer drops his two cents on crypto

While talking on CNBC about putting the prices of different cryptocurrencies on display, Jim Cramer dropped his “two cents” on cryptocurrencies.

“This thing or these different prices, like we put up XRP, Solana, and Dogecoin. Those are all I believe cons. Why don’t we put up like a bunch of stocks that are valued at the same size.”

In 2022, the cryptocurrency markets continued to struggle but had made strides to reach their full potential. Following the TerraUST and Luna crashes, which dropped their values to zero, the bear markets have been severe and cruel. Leading cryptocurrencies were still in perilous condition after the crash, and the fallout from FTX further shook the markets.

NEWS BY – CETOEX NEWS

Here are the Top Crypto Projects of the Week

Howdy — Sun, 04 Dec 2022 04:20:28 +0000

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Cetoex News – The crypto markets experienced a momentary relief earlier this week before falling again. The brief rally was most likely a response to the possibility of slower interest rate hikes. Bitcoin (BTC) climbed past $17k but has since fallen below that level again. Meanwhile, Ethereum (ETH) has struggled to get past $1.3k after the November crash caused by the FTX collapse.

Nonetheless, some crypto projects did show some strength regardless of the general bearishness.

Top crypto performers of the week

#3 – Fantom (FTM):

credit – dailycoin.com

FTM is the top crypto performer, with 35.4% gains in the weekly charts. The coin began to surge after Andre Cronje published a Medium blog on how the firm has remained cash flow positive throughout the years. Investors and users are also awaiting the launch of the Fantom Virtual Machine (FVM), but they do not have an official launch date as of yet.

At press time, FTM was trading at $0.24900, up by 5.8% in the last 24 hours.

#2 -Dogecoin (DOGE):

credit – tesmania.com

Dogecoin was also one of the best-performing cryptos this week. The rally is likely riding on Elon Musk’s announcement of a Twitter 2.0 with payment features. Being the DOGE fan that he is, there is a high probability that Dogecoin will be a part of the payment feature. DOGE is already accepted as payment for Tesla merchandise.

Although DOGE has made significant gains (22%) in the weekly charts, it is also one of the biggest losers in the 24-hour charts. In the last 24 hours, DOGE has dropped by 4%, and its price has fallen below 10 cents once again.

At press time, DOGE was trading at $0.099812.

#1 -EthereumPOW (ETHW):

credit – topgloble.com

EthereumPOW is the top crypto gainer in the last 24 hours. The token has surged by up to 22% in the daily charts. Ethereum’s transition to a PoS (Proof-of-Stake) model was a historic moment for the project. However, the original PoW chain continues to function with many users still on the network.

RobotXEN, an auto-minter took, was recently launched on the ETHW network. The tool allows users to mint $XEN at cheaper rates.

At press time, ETHW was trading at $4.08, up by 1.3% in the last hour.

NEWS BY – CETOEX NEWS

Is the Dogecoin Spike a Harbinger of Bad News for Bitcoin?

Howdy — Sun, 04 Dec 2022 03:13:53 +0000

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CETOEX NEWS – Over the past couple of weeks, Dogecoin’s (DOGE) market cap has grown from $7.93 billion to $13.2 billion, a 66.5% increment. The project’s trading volume has also surged from $216 million to $844 million, a 290% jump. Moreover, DOGE’s price has rallied by 22.6% over the last seven days. The sudden interest is attributed to Elon Musk’s announcement of a payment feature for Twitter. Being the DOGE proponent that he is, many expect the feature to include the original memecoin as an option.

However, a spike in Dogecoin (DOGE) might not be a sign of good things to come. According to crypto analysis firm Santiment, a spike in DOGE has historically been followed by a wider market selloff. As per the chart shared by the firm on Twitter, DOGE rises have been followed by Bitcoin (BTC) price retraces. The firm stated that Dogecoin pumps are a reflection of crowd euphoria.

credit – coinpage

Will BTC fall following Dogecoin’s pump?

History does tend to repeat itself. However, this time around, things could take a different turn. The current DOGE rally is riding on Musk’s Twitter 2.0 announcement. If the payment feature is implemented and DOGE is accepted as payment on Twitter, it could lead to more interest in the general crypto space. However, how Bitcoin (BTC) reacts to the development is yet to be seen.

However, if history does repeat itself, it is only a matter of time before we witness another BTC fall.

A survey found that more than 60% of DOGE’s investors maintained a profit as a result of the token’s success. It is safe to assume that a sizeable part of Dogecoin’s holders are betting on the cryptocurrency’s long-term potential given that 69% of holders have been holding onto the token for more than a year.

NEWS BY – CETOEX NEWS