• Elon Musk recently tweeted about his interest in Dogecoin (Doge) and Shiba Inu, causing slight price increases for both coins.
• The Blockchain Research Lab study found that there was an average 3 percent price range for each of the 47 events after a tweet by Musk.
• A follow-up tweet asked fact-checkers to look into the matter, indicating that it may have been related to a new Twitter feature.
Elon Musk’s Tweet
Twitter CEO Elon Musk has been linked to several price surges of Dogecoin (Doge) after his tweets triggered speculations among investors. Just recently, Musk has come up with another tweet, causing a fair increase in the price of the meme coin in the last 24 hours. In a statement that is believed to be an apparent joke, Musk Tweeted: „High time I confessed I let the Doge out.“ There was an image attached to the post with the inscription „It was me, I let the dogs out.“ There was also a follow-up tweet where he wrote „Fact check me @CommunityNotes“.
Price Increase After Tweet
Following the tweet, Dogecoin responded with a 6.6 percent sharp increase with Shiba Inu surging by 2.5 percent. Before Musk’s tweet, the Twitter account of Community Notes posted that: Starting today, you’ll get a heads-up if a Community Note starts showing on a Tweet you’ve replied to, Liked or Retweeted. This helps give people extra context that they might otherwise miss.
Blockchain Research Lab Study
According to Blockchain Research Lab’s study on the effect of Elon Musk’s moves on cryptos discloses that he has an interesting command over investors. According to their study, there was an average 3 percent price range for each of the 47 events after one of his tweets. The study further observed that whenever there is an immediate and large spike in price, there is another 45-minute price spike following shortly afterwards.
24 Hour Price Movements
The 24-hour move of Dogecoin has been within ranges of $0.0832 and $0.0872 which shows that although its prices rose due to Musk’s tweets it did not manage to test its key resistance level which stands at $0.09 before experiencing retracement as seen in its chart data analysis results available online..
Elon Musk appears to have some influence over investor behavior when it comes to cryptocurrencies like Dogecoin and Shiba Inu as evidenced by their respective rises following his recent tweets about them as well as findings from Blockchain Research Lab’s study which showed average 3% increases for each event associated with him tweeting about these specific digital assets
• Shiba Inu ($SHIB) has spawned a rival project, “Golden Inu”, which is an evolving crypto-ecosystem.
• The platform will reward members with funds from a community treasury for working and sharing jobs.
• Golden Inu has four alliances: Khans, Frontier Force, Code Warriors, and Narrators.
Introducing Golden Inu
The crypto-community has been waiting for Shiba Inu to materialize Shibarium layer-2 technology — resulting in the launch of a new metaverse company & digital currency called „Golden Inu“. This real-time, evolving community platform offers users the opportunity to earn funds from a community treasury by working and sharing jobs through their „Quest“ tasks platform.
What is DAO Technology?
Golden Inu utilizes Decentralized Autonomous Organization (DAO) technology and structure to ensure that token holders control the direction of the project. Each alliance within the „Golden Horde“ have their own set of tasks to help build the brand. By contributing time and effort, users can earn money from this community funded treasury.
The Four Alliances
The four alliances within Golden Inu’s Horde are Khans, Frontier Force, Code Warriors, and Narrators. The Khans are leaders within their respective trades who select those empowered to complete tasks in their horde. The Frontier Force handles grassroots and commercial marketing while Code Warriors develop web3 applications for the ecosystem. Lastly, Narrators provide content needed by the Horde in whatever endeavor they pursue.
A ‚Safe‘ Crypto Ecosystem
Through its transparent use of funds raised as well as its DAO structure that allows token holders control of the project’s direction — Golden Inu promises users a ’safe meme coin for everyone‘. As it moves forward with its phase 1 vision of being an upwork of sorts for crypto-users — only time will tell if Golden Inu can truly be Shiba Inus killer or just another forgotten digital asset on exchanges across the globe.
With its ambitious vision and unique approach to incentivizing users — there is no doubt that Golden Inu could revolutionize how people interact with cryptocurrencies moving forward. It will be exciting to watch how this new crypto ecosystem evolves over time!
• RenQ Finance (RENQ), Polkadot (DOT), and Dogecoin (DOGE) are great options for investing this month.
• Dogecoin (DOGE) is the only meme coin that decreased its carbon footprint in 2022 and its price is increasing due to Elon Musk’s support.
• Polkadot (DOT) has seen increased trade volumes due to its ability to bridge blockchain networks, and the first stage of RenQ Finance’s (RENQ) presale has had a blockbuster start.
Investors Bet On RenQ Finance(RENQ),Polkadot(DOT),and Dogecoin(DOGE) For This Month
Dogecoin(DOGE) Gains Considerable Boost
According to a recent research study,Dogecoin(DOGE) was the only meme coin that decreased its carbon footprint in 2022.Elon Musk’s assertion that Dogecoin(DOGE) is superior to Bitcoin and other cryptocurrencies for performing transactions is supported by the report.The research and recent market recovery have sparked interest in Dogecoin(DOGE). As a result, during the past few weeks,Dogecoin’s price has significantly surged.Over the past month,Dogecoins price has increased significantly. The price of Dogecoin(DOGE) is expected to climb in the coming weeks, according to analysts.Elon Musk backed Dogecoin(DOGE) is one of the most loved meme coins .
Polkadot ( DOT ) Has Increased Trade Volumes
The Polkadot ( DOT ) multichain network was created to bridge the gap between existing blockchain networks to create a single , integrated network . It has a para-chain that allows for the customization of blockchains while allowing them to operate independently from the parent chain . Recently , Polkadot ( DOT ) has developed into a popular hub for new chains . For instance ,the SubSocial Chain architectural framework was transferred from Kusama to Polkadot ( DOT ). The network is now seeing increased interest from MantaPay and other protocols . Hence , market experts believe Polkadot ( DOT ) is ready for a big upside swing in the coming month .
RenQ Finance Starts Its Presale Very Impressively
The first stage of RenQ Finances‘ presale has had a blockbuster start . Crypto investors are rushing to RenQ finance to buy its tokens .RenQ Finance is an all-in-one DeFi Platform that provides each and every DeFi product under one roof .
Renq finance(RENQ), Polakdot(DOT),and DogeCoin(DOFE)) are great options if you are exploring new cryptocurrency investments this month. All three project have seen considerable success over recent weeks with predictions that their prices will continue climbing over time.
• Russia’s biggest bank Sberbank has announced plans to launch its Ethereum-based DeFi platform in May.
• The product director of Sberbank’s blockchain lab Konstantin Klimenko believes that DeFi technology will take the place of traditional banks.
• Ethereum is on the way to an unprecedented price point, and its native token ETH could go from current price levels of $1,677 to $2,000 and above with a Shanghai upgrade scheduled for March.
Russia’s Biggest Bank Launching DeFi Platform on Ethereum
Russia’s biggest bank Sberbank is set to launch its decentralized finance (DeFi) platform on Ethereum come May. The DeFi platform is currently undergoing testing in private beta and customers will be able to make commercial transactions at the end of April or the start of May.
Belief in DeFi Technology
The product director of Sberbank’s blockchain lab, Konstantin Klimenko, is vocal about his belief that DeFi technology will replace traditional banks. He has stated that they have “set ourselves a big goal – to make the Russian DeFi ecosystem number one (decentralized finance system – IF). Our network is now operating in the format of closed beta testing” and from March 1st will move into open testing at the end of April.
Ethereum Price Performance
At present, Ethereum stands out as one of the few alternative assets blinking green in terms of price performance with 7 days gain being above 6%. Ethereum’s current price level is around $1,677 but analysts believe this could increase substantially with an upcoming Shanghai upgrade scheduled for March possibly pushing ETH up to $2,000 or more.
Adoption Favors Ethereum Network
Adoption favors any network and it looks like this time it may be Ethereum’s turn as Sberbanks decision continues their plans to merge their own country’s blockchain ecosystem with Decentralized Finance on Ethereum.
With all indications pointing towards increased adoption and use cases along with a possible rise in prices due to an upcoming upgrade, 2021 looks like it could be another great year for Etheruem investors.