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Dogecoin co-founder addresses Musk’s Twitter takeover

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Elon Musk has been making headlines for a variety of reasons. His current interest in taking over Twitter and his fondness for Dogecoin [DOGE] appear to have put him in the spotlight. Musk’s bid for Twitter has sparked a lot of debate. While some people are rooting for Musk to take over Twitter, others are worried about Trump’s possible return. Meanwhile, Jackson Palmer, a co-founder of the DOGE, feels Musk is on the verge of destroying the social media network.

The memecoin co-founder addressed Musk’s Twitter takeover during a recent interview. He continued by saying,

“The second I heard he was going to make a bid, I thought that he intended to destroy Twitter. I think if you look at what’s happening, that’s what’s happening. He was sowing a huge amount of discord and distrust on the platform, and there are huge amounts of churn and attrition from staff.“

Musk’s purchase of Twitter has been beset with problems. Several people are sceptical that the Twitter acquisition will go through due to the repeated delays. Palmer went on to say that Musk might be attempting to destroy all trust or that he’s crazy enough to believe he can construct an alternative.

Dogecoin co-creator’s first interaction with Musk

Palmer recalled his first encounter with Tesla CEO Elon Musk when discussing Musk’s Twitter takeover. Palmer allegedly messaged Musk on Twitter about a code that would instantly detect a cryptocurrency scam on someone’s Twitter account. The bot would then notify the social media giant about the scam. Palmer went on to tell numerous other crypto influencers about it. Musk was also interested in participating.

Elon Musk went on to become one of the most powerful figures in the cryptosphere. As a result, con artists have utilized Musk as the face of their phony “crypto giveaways” time and time again. Palmer’s script appeared to be a good fit for Musk. Musk, however, did not understand coding as well as he claimed, according to the Dogecoin co-founder. Musk reportedly asked the DOGE co-creator about running the Python script.

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Elon Musk

As Palmer continued to criticize Musk, the billionaire showed his support for Dogecoin by adopting it at SpaceX.

Is Shiba Inu Easy to Buy and Sell in Europe?

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Shiba Inu (SHIB) investments have skyrocketed in Europe, especially Germany, because of its high profitability. Also the coin can be used as a payment option in some cases.

The coin has only existed since 2020, and we understand that many investors are still sceptical about taking their chances with the investment. However, Shiba continues to be embraced by investors, and putting up your money into it can benefit you in the long run.

This article will give you insights into how Shiba investments work and whether it is easy to buy and sell in Europe. We will also include some significant reasons you should consider this investment in 2022 and the best way to get started.

How to Buy Shiba Inu in Europe

Like other cryptocurrencies, you need a cryptocurrency exchange or brokerage firm to buy Shiba Inu. Note that these platforms have varying features, and it is crucial that you choose those that benefit your Shiba investment requirements. For instance, you need to consider budget, reliability, availability of Shiba and other cryptos, payment methods, demo accounts, etc. Most importantly, invest using brokers or crypto exchanges that accept clients from your country. 

For instance, German investors looking to buy Shiba Inu, should go for brokers regulated by the Federal Financial Services Authority (BaFin).

If you are in Germany or you are a German investor, take a look at the following guide on the best platforms where you can buy Shiba Inu: Shiba Inu krypto kaufen in Deutschland. This translates to How to buy Shiba Inu in Germany. 

Note that the best broker or cryptocurrency exchange allows purchasing of SHIB using various payment methods. These funding methods include debit/credit cards, bank transfers, e-wallets like PayPal, and other cryptocurrencies. All you need is a crypto wallet and select a more flexible payment option you are comfortable using.

For newbies looking for ways to get started, the procedure for buying Shiba can be pretty straightforward once you understand how to go about it. By creating an account on a broker’s or cryptocurrency exchange’s platform, you can easily access the asset and complete the purchase. However, note that you need to start by learning about the Shiba Inu market and how it works, including all the risks involved, before making your first significant investment. 

Other Ways Of Investing In Shiba Inu

Although some traders and investors will buy Shiba and store it in their digital wallets, others prefer other methods of making profits from the asset. One of the most popular ways to trade Shiba is through CFD trading, offered by regulated brokers that meet your trading requirements.

With Shiba CFD trading, you do not take ownership of the underlying asset. Instead, all you do is predict Shiba’s price movement through the chosen platform. Remember that all cryptocurrencies, including Shiba Inu, are volatile, and you must conduct a thorough market analysis for increased profitability.

Alternatively, you can buy SHIB’s shares through companies that produce the commodity. Here, you will require a broker with access to the exchanges where the companies’ shares are listed. The best element about buying Shiba shares using brokers is that you can purchase the shares as fractions should a single one be costly to afford.

Pros and Cons of Buying Shiba in 2022

Shiba Inu runs on the Ethereum network as an ERC20 token. It is one of the meme coins besides Dogecoin that has captured investors’ attention from diverse regions in Europe. Recently, the Shiba community celebrated one million holders, which ended up stirring the cryptocurrency space. For this reason, many investors dub it the “Dogecoin killer,” especially when it comes to long-term investments.

With many controversies surrounding Shiba Inu investments, below are the pros and cons of buying Shiba to give you a clear insight. 

Pros

  • Shiba’s current share price is very cost-effective, making it a viable option for newbies. Since this cryptocurrency’s popularity is skyrocketing, investing in it now when the price is still low can pay off in the long run.
  • Shiba has a decentralized exchange known as ShibaSwap that is highly secured and allows users to meet and trade cryptocurrencies. 
  • The cryptocurrency has shown immense growth since it was launched in 2020 — an indication that it could generate good profits in the long run.
  • It supports smart contracts, making it easier for investors to lend and stake them while earning passive income.
  • It has gained massive support from prominent business people, including Elon Musk. This keeps the coin in the limelight for new investors. 

Cons

  • Being a relatively new asset in the market with little information about it makes Shiba a riskier investment compared to other cryptocurrencies.
  • The asset is highly volatile, making it challenging for investors to predict how it will be in the future. 

Key Takeaways

Shiba is a highly volatile cryptocurrency, and investing in it is risky. However, all financial assets carry risks, and the only way to mitigate them is by conducting extensive market analysis to develop the best investment strategies. Generally, Shiba is a good investment, and it is easy to buy when using licensed and regulated brokers. The best element about buying Shiba with brokers is that you get access to additional assets for portfolio diversification. Plus, brokers offer learning and research tools for a worthwhile experience.

Dogecoin co-founder states the obvious yet again

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On his official Twitter account, one of the Dogecoin project’s founders sent a crucial reminder regarding his affiliation to the cryptocurrency in its current incarnation.

Billy Markus stated in his post that he is no longer working on Dogecoin. Despite being one of DOGE’s most prominent ambassadors, he left the meme-currency seven and a half years ago and has no plans to return.

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Source: Twitter

Though some people disagree with his move, his goal is to demonstrate what true decentralization is. Even thoughthe fact that the meme coin’s environment is not the most technically proficient in the market, it is still under continuous development.

“Shibetoshi Nakamoto” has also spoken on the cryptocurrency market’s definition, humorously portraying it as a mix of “hopium,” “fomo,” fear, and other circulating phenomena. He also mentioned that studying human nature in relation to money is fascinating.

Despite his distance from the project’s core, Markus feels that the DOGE ecosystem benefits from the speculation that surrounds it. He also stated that the meme token team’s primary focus in the present and future should be on utility.

Markus has often told his subscribers that he is unconcerned about the price of Dogecoin. The community’s anger stems from the fact that DOGE has lost more than 85% of its value since its all-time high.

Dogecoin’s new plan to go bullish

Dogecoin, the first memecoin to hit the cryptocurrency market, offers a tip for intraday traders in the form of a symmetrical triangular formation, which might propel DOGE higher if it plays out in favour of bulls.

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Source: trading view official website

A symmetrical triangle is considered a bullish pattern by traders since it usually leads in an upward breakout. However, traders should not overlook the likelihood of a bearish situation in which an asset violates the pattern’s lower border and accelerates downhill.

However, DOGE is more actively probing the formation’s lower border, implying a short-term decline rather than an upward rally. At the time of writing, Dogecoin (DOGE) was priced at $0.08714 with a surprising daily rise of 2.59% according to data from Coin Market Cap.

Luna foundation guard pulls ahead in Bitcoin backing for UST

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The Luna Foundation Guard (LFG), a non-profit dedicated to the Terra environment, said on Thursday that it has purchased $1.5 billion in bitcoin (BTC) for its stablecoin reserves.

LFG announced that it had purchased 37,863 bitcoins ($1.5 billion) through over-the-counter swaps with Genesis Trading and Three Arrows Capital. One billion dollars came from an OTC swap with Genesis, while the remaining $500 million came from Three Arrows Capital.

With Thursday’s statement, Luna Foundation Guard’s bitcoin reserves have increased to $3.5 billion, putting it 30 percent closer to its declared objective of $10 billion. According to statistics from BitInfoChart’s “Bitcoin Rich List,” LFG’s wallet became the seventh-largest single BTC holder as a result of the acquisition.

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The LFG is acquiring bitcoin as part of its efforts to build up reserves for the TerraUSD (UST) stablecoin. Do Kwon, the CEO of Terraform Labs, has donated cash to help the charity complete its bulk BTC acquisitions.

Luna Foundation Guard’s investment in AVAX tokens

The LFG had also purchased $100 million in avalanche (AVAX) tokens for its stablecoin reserves, in addition to bitcoin. LFG had purchased $231 million in bitcoin the day before to increase its UST reserves, but this appears to be the first time the company has purchased another cryptocurrency. LFG is currently a substantial market buyer of AVAX, despite its market share being significantly lower than bitcoin’s.

LGF took to Twitter to say,

“Welcoming $AVAX as the second major layer one crypto asset next to $BTC as part of the $UST Reserve. The inclusion of @avalancheavax’s native token marks the start of a diverse pool of layer one crypto assets helping support the $UST peg.”

Stablecoins are digital currencies whose market value is tied to a more stable asset. The Luna Foundation Guard is getting closer to its goal of amassing $10 billion in bitcoin to support the United States Terra stablecoin, or UST.

The LFG’s move is part of a growing trend of algorithmic stablecoins collecting crypto assets as collateral. The USDD stablecoin from Tron is also due to launch, with plans for a $10 billion collateral reserve.

Is Shiba Inu the new goose laying golden eggs?

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Shiba Inu, the meme coin, grew in popularity and value swiftly as a community of investors were pulled in by the coin’s charming attractiveness combined with headlines and tweets from celebrities such as Elon Musk and Vitalik Buterin. The altcoin’s fame spawned a flood of imitators.

Along with witnessing multi-fold excellence in the cryptocurrency sector, the Dogecoin-killer has also been used, quite often, to attract more crypto enthusiasts to boost one’s own business.However, this isn’t a novel concept. CoinJar is only the most recent company to do so. After all, Shiba Inu [SHIB] has been threatening to supplant Dogecoin [DOGE] as the world’s most popular memecoin for the past year or so. SHIB has been used to boost social and trading volumes as an altcoin that prides itself on being community-centric.

CoinJar, one of Australia’s most established cryptocurrency exchanges, has announced the beginning of a Shiba Inu-themed promotional campaign. This will be part of the company’s 9th anniversary celebrations. CoinJar will become the next company to harness and promote its own fame by using the socially popular memecoin.

Let the Shiba Inu promotions begin!

Anyone who trades on the app between May 5 and 8 will have a chance to win up to 99,999,999 SHIB, according to the exchange. While the prize money appeared to be just over $2,000 at the time of publication, the exchange appears to be banking on the cryptocurrency’s social popularity to drive trading on its platform.

It’s worth noting that attempts have been made to help SHIB become a more respectable coin. The network, for example, just completed its SHIB: The Metaverse land sales last week. It all started with the SHIB Burn Portal’s operations. Over 20 billion SHIB have been burned out of circulation in the last week alone.

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SHIB: The Metaverse

Despite its social popularity and tendency to win trending wars, SHIB’s price action has been disappointing. In fact, many analysts believe the meme coin has a long way to go before it even approaches $1. These predictions are bolstered by the fact that over 70K SHIB holders have left the market in the last month alone.

Hydra brings the fun back in app building

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Hydra is a set of technologies meant to help Cardano (ADA), the world’s biggest proof-of-stake (PoS) system and prominent smart contract platform, handle scalability and security challenges.

An unknown Crypto Twitter user asked IOG’s Matthias Benkort (@ KtorZ_) about the intricacies of Hydra’s architecture after the discussion about the newest enhancements to the Cardano (ADA) blockchain and its infrastructure.

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Mr. Benkort was asked about Cardano’s first-ever L2 solution’s modular design, which allows numerous decentralized applications (dApps) to be deployed to its infrastructure.  This L2 solution will be ready to onboard dApps with various architectures utilizing its different aspects (“Heads”) in a Lego-like way, according to the creator.

In addition, the actual design of Hydra and the timeline for its development will be determined by community demands; several parts of the fundamental “Head” are already entirely up to the community.

Recap on Hydra

Hydra is moving closer to testnet, according to Haskell Dev Matthias Benkort, who tweeted in December 2021. This is a Layer-2 blockchain solution that aims to scale the bigger Cardano blockchain by cutting latency and increasing transaction throughput (TPS).

Now, fast forward to the present, and it appears like a final version will be available soon. With the arrival of this L2 solution, users will have access to a scalable solution that will boost throughput, remove latency, incur low to no costs, and substantially reduce storage requirements.

This will be performed through an isomorphic scaling method, which functions by conducting transactions off the main chain while retaining the main chain as a secure settlement layer.

Isomorphic state channels, or heads, provide access to Cardano features such as native assets, non-fungible tokens (NFTs), and Plutus scripting. As a result, users benefit from the layer-1 blockchain’s benefits and security while functioning within a “sharded head,” of which there will be many. Benkort further stated,

“These are state channels that are capable of expediently reusing the exact state representation of the underlying ledger and, hence, inherit the ledger’s scripting system as is.”

In theory, when more heads are added to the network, it will become faster. At the time of writing, Cardano (ADA) was priced at $0.782133 and had plunged by 3.2% over the last 24 hours.

Shiba Inu payments acknowledged by Swiss-based MNC

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Fidinam Group, a multinational company based in Switzerland, is now taking Shiba Inu as a payment mechanism, according to @ShibaXanders, an admin of the Shiba Inu Venezuela community.

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Fidinam is said to have operations in Germany, Austria, Belgium, the United Kingdom, the United States, and Spain. Porsche Towson, Baltimore’s only private Porsche facility, has collaborated with cryptocurrency payment processor BitPay to accept digital assets, including SHIB token, according to a recent release.

BitPay started accepting the SHIB cryptocurrency in late 2021, allowing SHIB to be used at hundreds of BitPay merchants that accept the meme coin. SlingTV, the American Cancer Society, Newegg, Menufy, the Carolina Hurricanes, and Twitch are just a few of the prominent firms that currently accept SHIB via BitPay.

Endeavors of Shiba Inu

The SHIB trifecta, leash, and bone make their debut on SimpleHold, a lightweight wallet for Bitcoin, Ethereum, and a variety of other digital assets, letting users store and transfer leash and bone.

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In light of recent events, the Parex decentralised exchange announced on its Twitter account that it will start trading Shiba Inu on April 20, 2022. On April 20, the Parex exchange announced that it will begin accepting Shiba Inu deposits and trading on its platform. The meme token will be paired with USDT.

The platform differs from past exchanges in that it includes a PRX token that can be mined and is based on the Proof-of-Interoperability protocol. The latter allows PRX to link to a variety of different blockchains, including Ethereum, Polygon, Polkadot, and others.

Furthermore, the Dogecoin-killer was listed on VALR, a South African digital market, earlier this month. Aside from that, after a lengthy wait, the canine token SHIB was officially listed on the Robinhood trading app. The meme cryptocurrency Shiba Inu was listed by commission-free investment site Robinhood, according to a listing bot. The meme coin has already surfaced on the official website, even thoughthe fact that the firm has yet to properly introduce a new addition to its line-up.

Following the long-awaited listing by the famous Robinhood investment app earlier this month, SHIB has started gaining pace. For almost a week, SHIB has been the largest token by USD value among the top 100 ETH whales, and it has also been in the top ten most acquired coins. At the time of writing, Shiba Inu (SHIB) was priced at $0.00002496 and had plunged by 0.94% over the last 24 hours.

Shiba Inu gaits into Parex Exchange in a few hours

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The Parex decentralized exchange took to its Twitter handle to announce that it will begin trading Shiba Inu starting on 20 April 2022. Parex exchange stated two days ago that it will begin accepting Shiba Inu deposits and trading on its platform on April 20. USDT will be coupled with the meme token.

Earlier this month, it was revealed that the SHIB coin had been introduced to several other exchanges around the world. Parex, on the other hand, is a decentralized cryptocurrency exchange that helps make a unique debut for the meme coin. Decentralized platforms enable transactions to take place securely utilising peer-to-peer technology without the need for a third party to act as an intermediary.

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According to Bloomberg, the launch of Parex was announced on March 23. The DRC-16 protocol was used to launch it on the myDexChain network.

The platform is distinct from previous exchanges since it includes a mineable PRX token that operates on the Proof-of-Interoperability protocol. The latter allows PRX to connect to other blockchains such as Ethereum, Polygon, Polkadot, and many more. 

Robinhood joins forces with Shiba Inu through listing

VALR, a South African digital exchange, listed the Dogecoin-killer earlier this month. Aside from that, the canine token SHIB was finally listed on the Robinhood trading app, which had been a long time coming.

According to a listing bot, the meme cryptocurrency Shiba Inu had been listed by commission-free investment platform Robinhood. Even though the corporation has yet to formally unveil a new addition to its line-up, the meme coin has now appeared on the official website.

On April 12, Robinhood welcomed Shiba Inu, as well as three more prominent altcoins: Polygon’s MATIC, Compound (COMP), and Solana (SOL) (SOL).

In early 2018, Robinhood added functionality for cryptocurrency trading, initially for Bitcoin and Ethereum. In the same year, it added Litecoin, Ethereum Classic, Bitcoin Cash, and Dogecoin to the mix. Despite the fact that the crypto industry has grown by leaps and bounds since 2018, the firm has resisted adding new coins to its platform until now.

At the time of writing, Shiba Inu (SHIB) was trading at $0.00002531 and seemed bullish with an increase of 0.35% in the last 24 hours.

Sbercoin, Russia’s largest bank trills out its cryptocurrency

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Following the invasion of Ukraine, Russia’s largest bank, Sberbank, launched its own native cryptocurrency, the Sbercoin.

Russia has been battered by a barrage of sanctions since its invasion of Ukraine. It was eventually cut off from the majority of its foreign currency reserves as well as the global financial system. In the midst of it all, Russia’s largest bank, according to local media, announced the launch of a cryptocurrency.

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Sberbank Europe AG, headquartered in Austria 

On March 17, the Russian Federation’s Central Bank granted Sberbank a license to issue and exchange digital financial assets. Sberbank was placed on the central bank’s register, along with financial ecosystem Lighthouse, permitting both companies to issue and trade digital assets on their platforms.

However, Sbercoin was reportedly introduced on the same day by Russia’s largest bank, according to media sources. Sbercoin’s introduction, according to some industry observers, could be a mechanism to trade rubles for other currencies without avoiding Western sanctions.

Sberbank announced that it would use blockchain technology to maintain the security of digital transactions, allowing firms to develop their own digital assets, buy Sberbank’s, and conduct other transactions. Sberbank CEO German Gref stated in late 2020 that the bank was working with JP Morgan on the development of its own cryptocurrency, Sbercoin, which has yet to go live.

Sbercoin, a savior in disguise

Since the conflict, Russia has struggled to pay its dollar-denominated obligations. Some believe sbercoin will be utilised to circumvent the restrictions. However, Asheesh Birla, the general manager of RippleNet, believes that this idea is debatable. In an interview with Markets Insider, the CEO of the blockchain-based payments service provider remarked,

“It’s going to be super-problematic for them to get much traction here because they also need a liquid exchange that is going to take the Russian ruble.”

On March 17, Sbercoin started trading at $0.0003617, with a 24-hour trading volume of $948,000. According to data from CoinMarketCap, the coin, which is traded on Pancakeswap, has dropped 30.94 percent to $0.00006707 in the last 24 hours.

Shiba Inu goes big on BIGG Digital

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Shiba Inu (SHIB) is now accessible on Netcoins, an online cryptocurrency exchange that makes it simple for Canadians to buy, trade, and hodl cryptocurrency, according to a press release. Netcoins claims itself as Canada’s first fully regulated publicly owned cryptocurrency exchange platform.

Netcoins, a division of BIGG Digital Assets Inc, recently got clearance for an update to its constrained dealer license, allowing the platform to provide a wider range of coins. Shiba Inu, DOGE, MATIC, FTM, and MANA were among the five new coins added to the platform.

Netcoins obtained clearance for an amendment to its restricted dealer license on 24 March 2022, which was requested in late 2021 and will allow the platform to provide a wider range of coins. These five coins are the first in a series of coin enhancements that will be released in the following months.

Apart from the new additions, the cryptocurrency exchange also accepts Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), XRP (XRP), and Stellar (XLM). Netcoins, which was founded in 2014 and is based in Canada, presently services customers in Canada but is seeking to expand to the United States.

Shiba Inu, DOGE, MATIC, FTM, and MANA contributed 12 percent of daily revenue shortly after introduction, according to Mark Binns, Netcoins CEO.

Shiba Inu and its offspring introduced to online shopping

John Richmond, a leading apparel manufacturer, has taken another step further in Shiba Inu adoption by introducing SHIB and LEASH burns for its online store. Every purchase made using NOWPayments will result in the burning of 9% Shib and 1% Leash. The fashion brand tweeted, on 26 March 2022,

“More Partnershibs? Here we are coming in hot! We are proud to accept and burn SHIB and LEASH for our online shop at @Johmrichmond. 9% Shib & 1% Leash will be burned for every purchase through @NOWPayments_io.”

In a similar vein, three companies have joined the SHIB burning fad through NOWPayments. SHIB and Doge Killer (LEASH) are now being tested on the aforementioned platform’s burning gateway. Welly’s Italian burger company, John Richmond apparel brand, and Sorbillo’s pizza chain will use NOWPayments to burn a portion of their SHIB revenues.

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The @shibburn tracker has announced on Twitter that a total of 7,703,474 SHIB tokens were burned in six transactions in the last 24 hours. Over 2,604,802,620 SHIB tokens have been burned in the last seven days, with 191 trades.