Day: November 17, 2023

VeChain price prediction as VET mirrors Ethereum (ETH)

VeChain (VET) price was at $0.023, down 5% in the past 24 hours, while Ethereum (ETH) traded near $1,940.
Both altcoins have retreated from recent highs amid profit deals and as Bitcoin drops below $36k.

VeChain (VET) broke higher earlier this month as the crypto sentiment around Bitcoin and Ethereum ETFs combined with other positive news to buoy buyers. VET surged as high as $0.023, the cryptocurrency’s highest level since April 30.

But in reaching a six-month high, VeChain welcomed profit takers amid similar struggles for crypto and equities. Indeed, VET/USD is down 5% in the past 24 hours and nearly 8% this past week. 

VeChain’s 30-day gains are currently trimmed to just over 26% as price falls to $0.020.

VeChain price outlook as ETH eyes major support area

The struggles for VET price come as the top altcoin by market cap Ethereum battles to hold onto gains above $2k. Ether price is changing hands near $1,940 at the time of writing, down 3% in the past 24 hours and nearly 9% this past week.

Ethereum price chart

ETH touched highs of $2,136 on November 10, but has given up some of the gains as it fell to lows of $1,906. A return above the psychological $2,000 level is key to a bullish continuation. An analyst has predicted ETH could jump to $3,100

If ETH/USD falls below $1.9k, its possible bears will target $1,740.

Looking at VeChain, we see a similar scenario where bulls are struggling to shed the sell-off pressure after prices spiked to multi-month highs.

VeChain price chart

Just as with ETH, VET’s daily chart shows a negative outlook suggested by the RSI and MACD indicators. If price falls below $0.020, downside momentum could push the cryptocurrency to $0.018. 

Further support could be found between $0.016 and $0.014.

The post VeChain price prediction as VET mirrors Ethereum (ETH) appeared first on CoinJournal.

Republic chooses Avalanche blockchain for tokenized investment fund

Republic aims to leverage Avalanche’s features for global scalability.
Republic Note has already attracted over $30 million in pre-sale participation.
The move could potentially help stop the current AVAX price drop.

Investment platform Republic has selected Avalanche as the blockchain for its upcoming tokenized investment fund, Republic Note.

The move is part of Republic’s strategic vision to leverage Avalanche’s strengths for global scalability.

Tokenizing investment with Republic Note

Republic Note introduces a security token that allows investors to earn returns from a diverse portfolio of over 750 private assets. The digital asset, not yet deployed to the mainnet, has already garnered significant interest, with over $30 million in pre-sale participation from individual and institutional investors.

Republic President Andrew Durgee highlighted Avalanche’s role in providing the foundation needed for Republic Note to reach a global audience of investors. The choice of Avalanche is strategic, considering its innate features, including the ability to set up controllable subnets. These subnets, highly customizable side chains, play a crucial role in optimizing for regulatory compliance associated with being a digital security.

Republic’s profit-sharing approach

Republic Note is designed to share profits generated from Republic’s extensive venture portfolio with investors. It plans to distribute up to 25% of the dividend pool to token holders, emphasizing a profit-sharing model.

The token’s price during the pre-sale round was $0.36, with a total supply capped at 800 million.

A potential boost for AVAX price

Republic’s move to launch Republic Note on Avalanche could have implications for AVAX price. The strategic partnership between Republic and Ava Labs and Republic Note’s unique profit-sharing model might instil confidence in AVAX investors, potentially mitigating further price declines.

AVAX price today plummeted to a low of $20.18 losing more than 10% in value before the Republic Note announcement was made. After the announcement, the price recovered about 3% with the price rising to $20.52 at press time.

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Filecoin (FIL) retreats to key level as Bitcoin struggles near $36k

Filecoin (FIL) risks deeper pullback as price retreats to key level.
FIL traded near $4.6 on Friday afternoon, about 8% down in the past 24 hours.
If prices fall further, bulls could rely on primary support near $3.1 to $2.7

Filecoin (FIL) price is likely to retreat below a critical support level after the altcoin’s performance mirrored the struggles seen in the Bitcoin (BTC) market in the past 24 hours. Filecoin price was changing hands around $4.6, down roughly 8%.

FIL price outlook – will bulls hold onto gains?

While bulls could rebound off the $4.2 price level, the technical outlook presents a potential dip to lower buffer areas.

The 8% decline in FIL value the past 24 hours adds to this observation, particularly if Bitcoin, Ethereum and other top alts fail to find a bounce to stem current bleeding.

Filecoin price chart. Source: TradingView

The technical view presents a picture of uncertainty after bulls got rejected at $5.6 and then gave up $4.7. 

We can see both the daily RSI and MACD indicators are signalling weakness, with the RSI indicator above 50 but downsloping. The MACD indicator suggests a bearish flip.

In terms of a bearish outlook, Filecoin risks falling to the $3.9 support line, with extended downward pressure here likely to push FIL/USD to the critical demand reload zone between $3.1 and $2.7.

However, the 19% decrease in daily trading volume points to a potential flip in sell pressure.  As such, the opposite setup could see FIL rebound off the $4.2-$4.4 area to reclaim $5.0 as support.

If this happens, a move to the recent six-month peak above $5.6 could allow bulls to attack $6.5. The short term picture could pave way for more bullish movements should the broader market provide favourable conditions.

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Bitget Wallet unveils ambitious Turkey market expansion, aiming to boost local Web3 ecosystem

Victoria, Seychelles, November 17th, 2023, Chainwire

Bitget Wallet, formerly known as BitKeep Wallet, marked its presence prominently at the Devconnect conference in Istanbul, Turkey. Renowned as a leading one-stop Web3 trading wallet, Bitget Wallet not only attended but also played a pivotal role as a sponsor of the unStable Summit, a significant global stablecoin summit. Additionally, they co-sponsored several offline events alongside 1inch, a premier decentralized trading protocol.

Highlighting its commitment to the Turkish market, Bitget Wallet unveiled its ambitious plan for expanding into the Turkish market. This initiative focuses on delivering localized Web3 services, fostering partnerships with local projects, key opinion leaders (KOLs), and communities, and launching a series of ecosystem activities tailored to the Turkish market, all aimed at providing exceptional products and services.

During the conference, Bitget Wallet representatives provided a detailed analysis of Turkey’s cryptocurrency industry, acknowledging its development and potential. They also highlighted the positive impact of the event on the local Web3 ecosystem and showcased how Bitget Wallet, through innovative product development, has become a leading Web3 transaction wallet. Furthermore, they stressed the increasingly central role of decentralized exchanges in the industry’s future.

“Turkey is a dynamic country with a rapidly growing interest in Web3,” remarked a Bitget Wallet spokesperson at the conference. “Facing high inflation and global economic uncertainties, Turkey is emerging as a significant investment hub for cryptocurrencies.”

In the Turkish market, there’s a strong reliance on centralized exchange (CEX) services and a burgeoning interest in over-the-counter (OTC) trading. Bitget Wallet introduced its OTC services, which include integration with secure and compliant payment providers like MoonPay and Alchemy Pay, as well as access to Bitget P2P. This enables Turkish users to directly use lira within the wallet for buying and selling mainstream cryptocurrencies like USDT, BTC, and ETH.

Bitget Wallet’s non-custodial wallet services, which contrast with CEX offerings, ensure users have complete control over their private keys, thereby reducing the risks associated with centralized exchanges and enhancing asset security. The recent launch of the MPC wallet by Bitget Wallet further allows users to enjoy decentralized services without needing to know their private keys.

As a global leader in decentralized trading, Bitget Wallet offers a trading experience on par with centralized exchanges. It supports various trading modes, such as flash swap, limit order, and futures leverage, etc. Being a robust multi-chain DEX aggregator, Bitget Swap supports nearly 30 blockchains, consolidates liquidity from hundreds of DEXs and cross-chain bridges, and introduces innovative features like gas-free transactions, automatic slippage adjustment, and intelligent on-chain candlestick analyses.

Beyond swap transactions, the Bitget Wallet ecosystem offers a comprehensive range of on-chain services and DeFi solutions on over 90 mainstream blockchains. These include NFT trading, DApp interaction, and staking, allowing users to access every aspect of the Web3 industry through a single wallet.

The Turkish public’s growing interest in Web3, particularly in emerging areas like NFTs and the Metaverse, is noteworthy. The market’s diversification and maturity, combined with effective community and social media engagement, provide a fertile ground for Web3 development. “In the future, our services will be available in various scenarios, including GameFi and SocialFi, for transaction execution and value preservation,” Bitget Wallet emphasized.

According to on-chain data, Bitget Swap consistently ranks among the top ten DeFi projects in terms of transaction volume and active user count, often paralleling, and occasionally surpassing, platforms like MetaMask. User feedback globally indicates a strong preference for swap transactions, particularly due to the smooth transaction experience.

In their concluding remarks, Bitget Wallet representatives reaffirmed their commitment to both the global crypto market and the Turkish market:

“Serving over 12 million users globally, Bitget Wallet is one of the top ten most popular crypto hot wallets worldwide – the download numbers were the fourth highest globally last October. Our visit to Turkey not only allowed us to make many local connections but also to gain a deep understanding of this market, underscoring Turkey’s significant role in the cryptocurrency world. We are dedicated to supporting the local crypto economy and builders, collaborating with ecosystem partners, deeply exploring the Turkish market, and collectively enhancing the global cryptocurrency ecosystem.”

About Bitget Wallet (Web3 trading wallet)

Formerly known as BitKeep, Bitget Wallet stands as Asia’s largest and global frontrunner among all-in-one Web3 multi-chain wallets. We offer a comprehensive range of on-chain products and DeFi services to our users, including wallet functionality, Swap feature, NFT trading, DApp browsing, and more.

With a 5-year legacy, Bitget Wallet has garnered acclaim from over 12 million users worldwide and has secured partnerships with prominent industry leaders including Ethereum, BNB Chain, Arbitrum, Polygon, and others. This success stems from our commitment to consistently delivering secure and convenient products and services.

In March 2023, Bitget, a leading crypto derivatives trading platform made a substantial $30 million investment in BitKeep, acquiring a controlling stake. Following this strategic move, BitKeep underwent a transformative and strategic brand evolution in August, officially rebranding itself as Bitget Wallet.

For more information, visit:

Website
Twitter
Telegram
Discord

Contact

Rachel Cheung
media@bitget.com

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As the Market Takes a Breather, New GameFi Contender Galaxy Fox Pumps in Presale Mode

After posting some scorching returns over the past month, with coins like Chainlink, Avalanche and Solana posting huge gains, the market looks like it’s starting to cool down a bit and catch its breath. RSI is showing way overbought, and prices are hovering precariously above their daily averages. 

Whether the near future holds a minor retracement before continuing on its insane run, or a big, fat red candle wiping out most of the past month’s gains, is anyone’s guess. But all short-term technicals currently point to an overheated market, while still confirming the long-term bulls are clearly in the driver’s seat. 

So the only question is what to do in these bearish moments? Take profits, sit on the sidelines in Tether and wait? Watch Netflix? Or find another project that’s about to blast off? And most importantly, what’s the best crypto to invest in right now?

Many smart traders are opting for the latter, as evidenced by the success of new memecoin/GameFi contender, Galaxy Fox, which recently crossed the $100K mark in its presale, and only shows signs of heating up further from here. 

As more inexperienced crypto investors are buying the blow-off tops of already oversold coins like $LINK, smart money is moving to where the real profits are – which everyone knows is in presale, where you can pick up coins for a small fraction of what average retail investors will eventually pay once the project gets listed on major exchanges, or even DeFi exchanges like Uniswap that allow people to get in early. 

Presales are where the real unicorns are found, and it’s a rare chance to gain access to one. Fortunately, Galaxy Fox has opened the doors of its Stage 1 Presale to savvy crypto investors.

P2E meets a memecoin with a mission

Galaxy Fox is a full utility meme coin with a vision to make a lasting and meaningful impact in the cryptosphere, unlike the many flash-in-the-pan, here today, gone tomorrow coins presently cluttering up the memecoin space. 

Looking beyond a few top projects like Dogecoin and Shiba Inu, quality and reliability begins to fall off dramatically, taking you into some pretty shady territory. But unlike many cheap memecoin knock-offs, $GFOX has far more in common with leading P2E tokens such as The Sandbox, Axie Infinity, Decentraland, and GALA. 

Galaxy Fox is recognized for its substantial growth potential, offering opportunities for holders to earn residual income through staking, P2E gaming, and $GFOX token ownership. 

The prize pool consistently rewards top performers and is regularly replenished from the treasury fund. This is a quality project with true staying-power. It also boasts a serious development team, strong community and excellent governance – thus the question what’s the best crypto to invest in right now starts to become clearer.   

Built with Ethereum ERC-20 Technology, the Galaxy Fox ecosystem boasts an exciting new web3 runner game. As a player, you can earn $GFOX tokens by achieving top performance in the game. Boosting your chances is possible through the purchase of Galaxy Fox NFTs, each with its unique characteristics, strengths, and weaknesses, offering variety and an edge over your opponents.

Additionally, players can temporarily enhance their attributes, increasing strength, speed, agility, and power by using $GFOX tokens, our native currency, to acquire attribute boosters. These boosters provide a competitive advantage in battles against other players.

At the end of each $GFOX season, which includes weekly and monthly segments, the top 20% of players on the leaderboard will be awarded in game currencies as rewards which can be exchanged for $GFOX tokens. To continuously reward the community, 50% of the funds generated from in-game item sales will be directed to the prize fund, distributed among the top 20% of players, providing the opportunity to earn real money while enjoying the game.

$GFOX NFT Marketplace

Galaxy Fox will be releasing 3000 unique NFTs launching during the presale. NFTs will be available to mint directly from the Galaxy Fox website and can be traded on popular NFT platforms such as OpenSea. The Galaxy Fox NFT collection will include characters from the Galaxy Fox Ecosystem, However, only $GFOX token holders will have access to these rare collectible NFTs.

Conclusion

According to GlobeNewswire, the P2E gaming market has massive potential. In 2021, it was valued at $776.9 million, and it is expected to reach $2.84 billion by 2028. Galaxy Fox taps into this growing industry, positioning itself as a top contender to the likes of Dogecoin and Shiba Inu as it has integrated utility through its P2E gaming ecosystem. 

Industry experts have voted it as one of the best ICOs in recent times because of its hybrid model. The project also aims to build an excellent source of passive income with cryptocurrency in 2023 through staking and rewards distributed to top players in the game. So as the market takes a breather, and maybe even a big dump, before setting off on its next leg towards the moon, don’t just sit around on the sidelines asking what’s the best crypto to invest in right now? 

Take advantage of a rare chance to be a part of an exciting presale and buy Galaxy Fox before the next pump. 

>>BUY $GFOX TOKENS NOW<<

Learn more about Galaxy fox ($GFOX) here:

Visit Galaxy Fox Presale | Join The Telegram Group | Follow Galaxy Fox on Twitter.

The post As the Market Takes a Breather, New GameFi Contender Galaxy Fox Pumps in Presale Mode appeared first on CoinJournal.

Shiba Inu up by 5% this week as Memeinator’s presale approaches $1.5 million

Key takeaways

Shiba Inu is up by 5% over the last seven days despite the recent market retracement.

Memeinators presale is now close to reaching the $1.5 million milestone. 

Shiba Inu performed well over the last seven days, adding 5% to its value. However, it has been underperforming over the last few hours as the market undergoes a retracement. This hasn’t stopped the Memeinator presale from closing in on the $1.5 million milestone. 

Shiba Inu stays above $0.000008

The cryptocurrency market has been underperforming over the last few days. However, SHIB, the native coin of the Shiba Inu ecosystem, remains above the $0.000008 level.

SHIB is up by more than 5% over the last seven days despite giving up some of its earlier gains. At press time, the price of Shiba Inu stands at $0.00000874. SHIB’s poor performance over the last few days coincides with a retracement in the broader market. 

BTC has lost more than 3% of its value over the last few hours. At press time, the price of Bitcoin stands at $36,448 per coin. 

What is Memeinator?

The crypto market has been performing well since the start of the year and investors are looking for new and exciting projects to invest in. Memeinator could be one of the projects to consider. 

Memeinator is a Web3 project that is taking advantage of the meme coin wave and seeks to provide numerous utilities to users. According to the team, the prime focus of the project is to eliminate worthless memes and improve content creation for users. 

Memeinator also wants to become one of the top meme coins in the cryptocurrency space. The team intends to provide utilities that would see Memeinator reach a $1 billion market cap in the medium term.

The project wants to leverage AI technology to identify worthless memes, allowing investors to know them and avoid them. 

The Memeinator presale is currently in its sixth stage and the team has raised more than $1.4 million. The MMTR price began the presale at $0.01 per token, and the price will rise to $0.0485 by the end of the presale, giving early-bird investors a whopping 132% ROI at listing.

The team said they would launch a Memeinator game at the presale’s conclusion. The Memeinator game players will have the opportunity to eliminate enemy memes to win some exciting prizes. 

Why is the Memeinator presale growing so fast?

Memeinator continues to attract more investors as it offers excellent use cases to content creators within the Web3 ecosystem and beyond. What makes Memeinator unique is that it is appealing to a wide range of audiences, from degens to crypto natives and speculators.

The project will leverage AI to analyze and evaluate memes on the internet. It will identify low-quality memes and replace them with superior ones. Memeinator is also dedicated to uplifting meme culture and quality.

Per the team, holders and network participants will earn incentives for using the Memeinator network. Its native MMTR token has some excellent features, such as deflationary mechanisms and rewards for holders, incentivising the project for holders in the long term. Furthermore, 20% of the tokens are allocated for marketing, CEX listing and liquidity. 

Click here to read more about the Memeinator presale.

Why should you invest in Memeinator? 

The Memeinator project has so far raised over $1.4 million and it is currently in its sixth presale stage. The platform will leverage AI technology and blockchain to provide excellent value to investors in the medium and long term.

With a market cap target of $1 billion, early investors could record massive gains in the medium term if that happens. 

The post Shiba Inu up by 5% this week as Memeinator’s presale approaches $1.5 million appeared first on CoinJournal.

Former Bithumb chairman faces eight-year prison sentence

Lee Jeong-hoon, former Bithumb Chairman, faces an eight-year prison term.
Prosecutors assert Lee misled Kim about joint Bithumb management, BXA Coin listing, and restructuring to evade financial regulations.
The January 18, 2024, appeal verdict holds industry-wide implications in South Korea.

Lee Jeong-hoon, the former chairman of Bithumb, one of South Korea’s major cryptocurrency exchanges, is at the centre of a legal battle in an appeal whose verdict is scheduled for January 18.

The outcome of Lee’s appeal could establish a precedent for legal systems addressing cases involving cryptocurrency exchanges and governance. The development comes as Bithumb plans for an IPO on KOSDAQ by 2025.

The allegations against Lee Jeong-hoon

Lee Jeong-hoon’s legal troubles revolve around allegations of violating the Act on Aggravated Punishment for Specified Economic Crimes, with a focus on fraud. The prosecution claims he orchestrated a 110 billion won fraud involving BK Group Chairman, Kim Byung-geon. The charges stem from a deal where Lee allegedly offered Kim the opportunity to acquire and co-manage Bithumb, coupled with promises to list BXA (Bithumb Coin) on the exchange.

Prosecutors argue that Lee planned to restructure Bithumb’s governance to profit from exchange coins while sidestepping financial regulations. They assert that Lee was aware of the challenges in listing BXA Coin but failed to disclose this information to Kim. As listing difficulties arose, Lee allegedly continued to receive payments without informing Kim of the decision not to list BXA Coin.

According to a local South Korean media outlet, South Korean prosecutors requested an eight-year prison sentence for Lee Jung-hoon.

According to Korean media Decenter, South Korean prosecutors requested an eight-year prison sentence for Lee Jung-hoon, the former chairman of the board of directors of Bithumb, South Korea’s second largest exchange. Lee Jung-hoon is accused of committing fraud of approximately…

— Wu Blockchain (@WuBlockchain) November 17, 2023

Lee’s defence team counters these claims, highlighting inconsistencies in Kim’s statements and questioning his credibility. Lee maintains his belief in Kim’s capability to lead Bithumb, asserting that Kim was aware of the progress regarding BXA Coin’s listing.

Implications for the cryptocurrency industry

The case underscores the intricate regulatory landscape of the cryptocurrency industry and its potential impact on investor confidence.

The fate of Bithumb and the future of BXA Coin are closely tied to the appeal’s outcome. A conviction may prompt a reevaluation of governance structures in crypto exchanges, potentially leading to more stringent regulatory measures.

As the cryptocurrency community and investors await the appeal verdict, the case serves as a stark reminder of the evolving nature of the industry. It emphasizes the need for clear regulatory guidelines to address governance issues and maintain trust among investors and stakeholders.

The post Former Bithumb chairman faces eight-year prison sentence appeared first on CoinJournal.

Can Ethereum Shatter the $5,000 Mark? New AI Crypto Targets 30x by 2025

Driven by renewed enthusiasm in the crypto market, experts make bold statements: Ethereum may be able to shatter previous highs, going well above the $5,000 mark, while a new AI crypto could become the lifeline of the Web3 space. 

Read on to discover BorroeFinance ($ROE), the AI disruptive force that targets 30x returns by 2025. 

>>BUY $ROE TOKENS NOW<<

BorroeFinance – New AI crypto targets 30x by 2025

BorroeFinance ($ROE) is a cutting-edge AI platform that uses breakthrough technology to revolutionize the Web3 sector. Fueled by the erc20 coins known as $ROE, the platform allows users to convert future income into NFTs. 

In other words, Web3 businesses, such as digital creators, influences, NFT artists, and others can now mint their subscriptions and royalties to gain immediate access to cash by selling the NFTs at a discount – with the full amount to be repaid at a later date.

This new AI crypto targets 30x gains by 2025 as it opens the door to secure, discreet, and quick funding for emerging Web3 businesses. It’s not only new – it is disrupting the traditional finance industry which lacks suitable solutions for Web3 businesses. 

Positioned as one of the best cryptos to buy now, $ROE is more than just another token in an already crowded market. BorroeFinance’s ambition relies upon the rapidly expanding global crypto market: in 2022, the market value was $4.67 billion and it is expected to grow at a CAGR of 12.5% from 2023 to 2030

This rapid growth, combined with the platform’s innovative use of AI and bridging the gap in the lending industry, could generate a 30x price increase by 2025. 

At press time, BorroeFinance has already made waves in the crypto community – all tokens were sold out in presale Stage 1. Currently in Stage 2, over 90% of $ROE have already been sold. The price is $0.015, but it is set to increase to $0.0175 in the next stage.  

>>BUY $ROE TOKENS NOW<<

Can Ethereum shatter the $5,000 mark?

The crypto market has recently been energized by multiple factors. The rumors of a Bitcoin ETF, and even an Ethereum ETF, have sparked optimism among investors. At the same time, recently, the Federal Reserve has also announced that the interest rates are to remain unchanged for now – all good news for crypto enthusiasts.

Thanks to these, many experts believe that a crypto bull run is right around the corner. One of the notable gainers is Ethereum, which is just above $2,000 at press time. However, Ethereum is still below its all-time high, so many think that it could regain its value in the years to come.

With no doubt, Ethereum has huge potential, according to most crypto experts. This potential is further bolstered by the increasing adoption of cryptocurrencies, as seen in the case of new crypto exchange-traded funds. 

Such developments have led to forecasts that Ethereum could shatter the $5,000 mark in the upcoming months. Additionally, the much-awaited Bitcoin halving event is just a few months away, which could fuel the current fervor in the crypto market. 

Historically, the crypto market has experienced considerable gains ahead of such events, so both big names like Ethereum and new AI crypto like BorroeFinance could see their value skyrocketing. 

Summary

BorroeFinance ($ROE) is one of the best cryptos to buy now, aiming to set new standards for DeFi companies and the broader crypto market. 

The AI crypto does not only introduce a new concept in the lending industry – turning future income into instant cash – but addresses a pain point for many Web3 businesses struggling with cash flow and a slow financing process that stunts their growth. 

Don’t miss out on the future of crypto finance – buy $ROE tokens on the official BorroeFinance website!

Learn more about BorroeFinance ($ROE) here:

Visit BorroeFinance Presale | Join The Telegram Group | Follow BorroeFinance on Twitter

The post Can Ethereum Shatter the $5,000 Mark? New AI Crypto Targets 30x by 2025 appeared first on CoinJournal.

Dogecoin rallies by 10% this week: Will other meme coins follow suit?

Key takeaways

Dogecoin is up by 10% over the last seven days, outperforming the broader market.

Shiba Memu’s presale has officially crossed the $4.5 million mark.

The cryptocurrency market has had a poor week so far, with Bitcoin and Ether both underperforming. However, DOGE has been one of the best performers over the last few days. 

DOGE outperforms the market

DOGE, the native coin of the Dogecoin ecosystem, is one of the best performers amongst the leading cryptocurrencies by market cap. It is up by more than 7% in the last 24 hours, outperforming the broader market.

Several altcoins have been rallying over the past few weeks and meme coins might be warming up next. DOGE outperforming the market could see other meme coins like Shiba Inu and PEPE follow suit. 

What is Shiba Memu?

Shiba Memu is working to become one of the leading meme coins in the world. It is a Web3 project that seeks to combine the features and functions of blockchain technology and artificial intelligence (AI) to change how companies and individuals approach digital marketing. 

Shiba Memu will offer a wide range of services to marketers within the Web3 ecosystem and beyond. Some of the services it would offer include content creation, marketing, social media advertisement, and creative advertisement. 

Per the team, Shiba Memu will leverage AI to identify the best creative adverts and improve on them to provide superior content marketing services to users. 

The decision to launch as a meme token was because the development team sought to leverage the popularity of meme coins. Since 2021, meme coins saw their market caps grow from practically $0 to now stand at $35 billion.

While most meme coins lack use cases, Shiba Memu will be different. As a marketing meme coin, Shiba Memu will allow users to create marketing strategies, roll out PR schedules, and promote campaigns on relevant forums and social media platforms. Currently, the project is available on the Ethereum and BNBChain blockchains. 

Shiba Memu’s presale surpasses $4.5 million

The cryptocurrency market has had an excellent start to the month and this has reflected in the prices of most coins and tokens. Shiba Memu has continued its excellent presale performance, and the team has now raised more than $4.5 million.

Most of the funds generated via the presale would be channelled towards the development of the Shiba Memu products and services. The Shiba Memu AI technology is its most important product and will have priority over the others. 

The Shiba Memu marketing platform comes with a robotastic dashboard, allowing users to interact with the AI, provide feedback, make suggestions, ask questions, and more.

Click here to find out more about Shiba Memu’s presale event.

Shiba Memu price prediction

Bitcoin and other major altcoins have been underperforming this week. However, DOGE remains one of the best performers amongst the top 20 cryptocurrencies by market cap.

Despite the market performance, it is hard to accurately predict Shiba Memu’s price in the near term since the project is still in its presale stage. However, at the moment,  1 SHMU = 0.041500 USDT. The token’s price increases every day at 6 pm GMT and is set to trade at 0.041725 USDT per token in a few hours. 

At the start of the presale SHMU was trading at $0.011125, and it has seen a remarkable increase in price since then. The SHMU token can be purchased using Ethereum, USDT, BNB and BUSD

Should you buy Shiba Memu or wait till the launch on exchanges?

The best times to invest in a project are during its presale or when there is a market pullback. This is because it is during those periods that tokens and coins are sold at discount prices. 

Shiba Memu has the potential to become one of the top meme projects in the world, thanks to its utility in the market industry. By using AI and blockchain technologies, Shiba Memu could offer massive utilities to companies and individuals carrying out marketing campaigns. 

Massive adoption of Shiba Memu could see its SHMU token record excellent gains once it starts trading on cryptocurrency exchanges. 

The post Dogecoin rallies by 10% this week: Will other meme coins follow suit? appeared first on CoinJournal.

Impact of SEC’s proposed regulation DeFi on Uniswap, Maker, and Galaxy Fox

Decentralized Finance (DeFi) has emerged as one of the hottest sectors in crypto, attracting institutional investors. The likes of Uniswap, Maker, and Galaxy Fox have emerged as some of the best cryptos to invest in today. 

Amidst this growth, David Hirsch, the head of the Security and Exchange Commission’s (SEC) Crypto Assets and Cyber Unit has emphasized the agency’s commitment to regulating DeFi. How will SEC regulation affect these three booming DeFi protocols? 

How will Uniswap be affected by SEC’s proposed regulation?

Uniswap has solidified its position as the biggest decentralized exchange (DEX) in the crypto space. The SEC has gone after centralized exchanges (CEXs) like Binance and Coinbase. The regulatory agency has proposed to expand its reach and regulate the Uniswap exchanges like other CEXs.

The securities laws will then apply to Uniswap and other DEXs. However, industry experts have argued that the likes of Uniswap don’t have the centralized management systems to be regulated as a security exchange. While the Uniswap coin initially struggled because of regulation, it has seen some recovery. The problem remains, however, that (unlike Bitcoin, which is censorship-resistant), Uniswap relies on a website that could, theoretically, be shut down if the SEC decides to take action against it. This would have a disastrous effect on the value of $UNI, sending it into a sudden death spiral. 

For the moment, however, on the monthly Uniswap price chart, it has recorded a 25% increase. This has taken the price of Uniswap above the $5.20 level. If the bullish momentum is maintained, the price of Uniswap will look to break above resistance levels at $5.5 and $6.0. Changelly has predicted a rally above this level before the year ends.

How Maker will be affected by the proposed regulation

Maker is one of the oldest decentralized lending and borrowing platforms. Meanwhile, MKR is the main utility and governance token DAO governing the DeFi platform. Despite not offering exchange services, the proposed regulations would also mean that Maker is regulated as a security exchange.

However, the Maker coin has not been affected by this proposed regulation. Year to date, the Maker price has increased by more than 100%. As a result, MKR was ranked as one of the best crypto to invest in. However, in November the price of MKR dropped from $1,570 to trade at $1,360.

Lookonchain reported that the recent price increase was a result of an increase in transactions. FalconX transferred $12.8 million worth of MKR tokens to centralized exchanges in the last week of October. The price of MKR shrank as the institutional interest in the token declined. 

How will Galaxy Fox be affected by the proposed regulation?

Like every other DeFi platform, Galaxy Fox would be affected by the proposed regulations of the SEC. Galaxy Fox is an exciting new addition to the DeFi space as it combines play-to-earn mechanics with meme culture. The game is built around special NFTs engaging in an intergalactic battle.

After choosing their own unique Foxes for the fascinating web-3 game, players will go on an incredible trip where they will gather, care for, and fight other players in exciting combat. In-game items and $GFOX tokens will be given to the best players in recognition of their abilities and accomplishments. 

An NFT marketplace within the ecosystem will let users trade some of the coolest NFTs, and purchase and exchange their digital assets for actual money. It will also offer a Galaxy Fox Merchandise store where network users can find captivating products, with profits funding the treasury for sustainability. Despite the ongoing pressure, Galaxy Fox ($GFOX) has continued to grow. 

The project has just notched a new milestone, raising over $100,000 in its beta crypto presale stage. Investors can still join one of the best ICOs as $GFOX only trades at $0.00066 per token. With the promise the platform has shown, analysts have projected a 40x price surge, making $GFOX one of the best crypto to invest in for maximum gains.

To learn more about Galaxy Fox ($GFOX), Visit Galaxy Fox Presale | Join The Telegram Group | Follow Galaxy Fox on Twitter.

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