The influence of crypto celebrities on the daily price fluctuations of cryptocurrencies such as Dogecoin and Shiba Inu cannot be denied. However, what does their participation mean for new projects such as Big Eyes Coin (BIG)?
A recently published report on the largest cryptocurrency transactions has shed light on Vitalik Buterin’s involvement with the Shiba Inu network. In 2021, Buterin, the co-creator of Ethereum and a crypto celebrity, burned 90% of his Shiba Inu collection, which is estimated to be worth around $7 billion. Following Buterin’s statement about his burn, the prices of Shiba Inu increased by 40%. Burning is a process of sending cryptocurrency to an inaccessible address, thereby reducing the number of coins in circulation. Therefore, if someone burns some of the coins you own, it means the value of that coin has just increased slightly.
Another crypto celebrity in the news recently is Ben Armstrong, who is also known as Bitboy Crypto. He is embroiled in a $1 billion class action lawsuit. The YouTuber, who is famous for his arguments with the Shiba Inu community, is named in a lawsuit against alleged promoters of the fallen FTX exchange.
Bitboy has vowed to get a tattoo of Shiba Inu if he is even named in the lawsuit when it comes up for a hearing. He has even gone so far as to claim that he will file a countersuit against the plaintiffs as an investment opportunity. Suffice it to say that it has been a hectic couple of days for SHIB.
Shiba Inu on Fire: How Burning is Driving Its Rise to the Top
Shiba Inu prices have experienced a 5% surge in value after the network burned almost 12 million tokens last week. Additionally, an increase in transactions on the Shibarium puppynet has helped push SHIB prices higher.
The Shiba Inu network is expanding its utility by adding numerous Decentralized Applications (DApps) and Decentralized Finance (DeFi) projects to its ecosystem. The network anticipates more growth as the utility of its Shibarium Layer 2 blockchain increases. With a total market capitalization ranking of 13th and trading at $0.000011, the coin’s whale actions are increasing, and the overall sentiment in the network is bullish, indicating that good times are on the horizon for the Shiba community.
Elon Musk Fights Back: Attempts to Dismiss Dogecoin Lawsuit
Elon Musk, the prominent crypto personality, and CEO of SpaceX has made a motion to dismiss a lawsuit brought against him by Dogecoin (DOGE) investors. Musk’s tweets about Dogecoin in 2022 triggered a surge in the token’s value.
In response to accusations of inflating the price of Dogecoin through his tweets about the token, Musk’s legal team has denied any wrongdoing. The price of Dogecoin has reflected Musk’s statements and the token’s value has fallen by 6.45% in the last 24 hours. Dogecoin, which ranks eighth in terms of total market capitalization, saw a rise of over 9% in value last week, indicating a positive sentiment in the cryptocurrency market.
The fluctuation in price suggests that the influence of celebrity endorsements can significantly impact a token’s performance. Despite Musk’s controversial remarks, Dogecoin is actively investing in its ecosystem, and the number of Decentralized Applications (DApps) on the network is on the rise.
Big Eyes Coin Emerges as a Contender Against Dogecoin with Feline-Inspired Approach
Big Eyes coin, a new cat-themed meme coin, has entered the crypto space to compete with the likes of Dogecoin and Shiba Inu. The token has successfully raised $32.5 million during its presale, and its developers aim to launch it on exchanges when it reaches the $50 million target. This presents an exciting investment opportunity for investors who seek a promising future for their cryptocurrency investments.
Big Eyes Coin values its community and plans to collaborate with influencers to increase its reach. Additionally, the cat-themed token has recently launched NFT cards for its members, allowing them to create their own NFTs and earn from them during the launch of the token. As Big Eyes coin gains momentum and grows its community, it looks like this cute feline-inspired token is set for a bright future in the meme coin market.
Conclusion
The impact of crypto celebs and influencers on the market cannot be overstated, with their every tweet and statement closely scrutinized by the crypto community. The recent surges in the prices of Dogecoin and Shiba Inu are a testament to the power these figures wield in the crypto world.
One project that aims to challenge the established meme coin players is Big Eyes Coin. This cute token is building an extensive ecosystem that includes an NFT marketplace, DeFi projects, and DApps. The success of its presale is a clear indication of the coin’s potential.
Find out more about Big Eyes Coin (BIG):
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
