As a seasoned crypto investor with a knack for spotting trends and a dash of humor, I find myself intrigued by the events that unfolded over the past day. Elon Musk’s latest antics with Dogecoin have become as predictable as the sunrise, yet they never fail to stir excitement among the community. The DOGE spike following his post is a testament to the power of social media and celebrity endorsements in this space. However, let’s not get carried away; I’ve learned the hard way that investing based on tweets alone can be as risky as betting on a three-legged donkey in a race.
Based on my extensive experience in the dynamic world of cryptocurrency, I’ve compiled a list of the top three stories that have caught my attention over the past day. Dive deeper into the captivating realm of crypto with me!
Elon Musk stuns Dogecoin community with new post
Yesterday, Elon Musk, a well-known supporter of Dogecoin, drew attention once more to the Dogecoin community. He posted an image on X, depicting him as the head of the Department of Government Efficiency, with his title acronym being DOGE – a nod to the meme coin. His comment read, “I am ready to serve.” The post garnered massive attention from crypto enthusiasts and Dogecoin fans; at the time of writing, it had over one million likes and 55,000 comments. This post also caused the price of DOGE to increase by 3.56%, reaching $0.105. Although the primary reason for the increase is likely the overall growth in the crypto market, Musk’s involvement has reignited interest in the coin among investors.
$2.47 billion XRP in 24 hours, What happened?
Following a resurgence in optimism within the cryptocurrency market, several digital assets have seen considerable price gains. One such asset is XRP, a token associated with Ripple, which saw a 4.17% increase yesterday, reaching $0.61 and boosting its market capitalization to an impressive $34 billion. The surge in trading activity for XRP is fueling this bullish trend. Data from CoinGlass shows that the trading volume of XRP has skyrocketed by 105.84%, reaching a staggering $2.47 billion. However, today, XRP’s momentum seems to have waned; the trading volume has dropped by 43.78%, currently standing at $1.24 billion as per CoinGlass. The token is now trading at $0.5928, registering a minimal increase of 0.06%, according to CoinMarketCap.
SHIB challenger PEPE achieves top exchange listing
Based on a recent announcement from Upbit, the largest cryptocurrency exchange in South Korea, they have introduced trading pairs for USDT with two meme coins: Brett (BRETT) and PEPE. As detailed in their update, these meme coins are operating on different networks – Brett on the Base network, and PEPE on Ethereum. Users depositing or withdrawing via networks other than those specified will not receive support. The value of PEPE rose by 11.55% to $0.000008053 following this announcement, marking its first weekly price increase. At the moment, PEPE is trading at $0.000007689, a 0.8% decrease over the last 24 hours, according to CoinMarketCap.
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2024-08-21 19:46