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Crypto Shankar

Memecoins

<p>The launch of the controversial <a href="https://www.web3cafe.in/cryptocurrency/memecoins">memecoin</a>, BALD, on Base has sparked a frenzy of conspiracy theories on crypto Twitter (now X). Speculation arose that FTX founder <a href="https://www.web3cafe.in/topic/sam%20bankman%20fried">Sam Bankman-Fried</a> (SBF) might be secretly involved in the project due to alleged connections between the token's anonymous developer and wallets associated with FTX and Alameda Research.</p>

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<p dir="ltr" lang="en">It is rumored that the Memecoin BALD deployer (0xcc...6389) may be a person related to FTX or Alameda, and some even think it is SBF himself.<br />
<br />
The address had frequent and large transfers of funds with the FTX, and another address of owner had $20 million in funds transactions…</p>
— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1686251309102665728?ref_src=twsrc%5Etfw">August 1, 2023</a></blockquote>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script></div>

<h3>The BALD Memecoin soars &amp;&nbsp;crashes</h3>

<p>The BALD memecoin, inspired by <a href="https://www.web3cafe.in/topic/coinbase">Coinbase</a> CEO Brian Armstrong, made headlines when it surged an astounding 289,000% within 24 hours of trading. However, suspicions arose when the anonymous developer withdrew a large portion of the liquidity, leading to an 85% price crash and accusations of a "rug pull." The community turned to blockchain investigations to unmask the developer's identity.</p>

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<p dir="ltr" lang="en">just to catch you up<br />
<br />
SBF the guy with the fake crypto exchange and responsible for one of the biggest frauds in history may have launched a $30m scam last weekend under a memecoin called BALD while on house arrest in his parents basement using the blockchain of a man who was… <a href="https://t.co/VjnSJCxg0E">pic.twitter.com/VjnSJCxg0E</a></p>
— RYAN SΞAN ADAMS - rsa.eth (@RyanSAdams) <a href="https://twitter.com/RyanSAdams/status/1686135610317103104?ref_src=twsrc%5Etfw">July 31, 2023</a></blockquote>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script></div>

<h3>Conspiracy theories emerge</h3>

<p>Decentralized finance (DeFi) commentator Downsin raised the conspiracy theory that SBF might be linked to the project, suggesting he was attempting to recoup losses from an alleged prison sentence. Data editor Andrew Thurman added fuel to the fire, highlighting connections between the token's wallet and blacklisted USDT addresses, as well as its association with Alameda Research.</p>

<p>Prominent pseudonymous trader Hsaka floated a speculative scenario suggesting the timing of the BALD token's launch and the subsequent crash was intended to benefit SEC Chair Gary Gensler in his pursuit of legal action against Coinbase. Another commentator named "Hype" pointed out eerie similarities between the developer and SBF, particularly in social media post sentence structures, raising suspicions further.&nbsp;</p>

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<p>However, prominent figures within the crypto community have refuted these claims, pointing to SBF's strict bail conditions and limited internet access since his arrest. Even the developers of the token have come out to defend themselves and stated that they have no relations with SBF or the beleaguered crypto exchange FTX.</p>

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<p dir="ltr" lang="en">I didn't sell a single token at any point since deployment. Just added/removed 2 sided liquidity and bought</p>
— Bald (@BaldBaseBald) <a href="https://twitter.com/BaldBaseBald/status/1685998514839470081?ref_src=twsrc%5Etfw">July 31, 2023</a></blockquote>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script></div>

<h3>Refutations &amp; debunking of allegations</h3>

<p>Crypto influencer Tiffany Fong, who has interacted with SBF, clarified that he has been adhering to strict bail conditions, including limited internet access and using a "flip phone without an internet connection." Fong dismissed claims of SBF's involvement due to alleged similarities in writing styles, emphasizing his lack of Twitter access. Furthermore, security measures at SBF's location make it improbable for him to be involved in the project.</p>

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<p dir="ltr" lang="en">Guys, SBF hasn't had access to a normal phone or laptop since April 2023 when his bail conditions changed. He's basically been using a flip phone without internet connection &amp; a laptop with restricted access to whitelisted websites (e.g. NYT, WSJ, Courtlistener, etc).<br />
<br />
Note: He…</p>
— Tiffany Fong (@TiffanyFong_) <a href="https://twitter.com/TiffanyFong_/status/1686153259038498816?ref_src=twsrc%5Etfw">July 31, 2023</a></blockquote>
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<h3>Doubts &amp; calls for rationality</h3>

<p>Pseudonymous trader HORSE urged followers to remain level-headed and shed their "tinfoil hats" regarding the conspiracy allegations. The community is reminded that unsubstantiated claims can harm reputations and fuel unnecessary panic.</p>

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	<li class="editor-readmore"><a class="editor-rel-content" href="https://www.web3cafe.in/visualstories/artificial-intelligence/top-5-ai-tools-to-help-with-email-marketing-in-2023-50145-18-07-2023">5 AI tools to help with email marketing</a></li>
</ul>

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<p>While the launch and crash of the BALD memecoin have generated intense speculation, the claims suggesting FTX founder Sam Bankman-Fried's involvement remain unfounded. Influential members of the crypto community have refuted the conspiracy theories, pointing to SBF's limited internet access and strict bail conditions as reasons why he would not be behind such a scheme.</p>

<p>As the industry strives for transparency and legitimacy, it is essential to base discussions on concrete evidence rather than unfounded speculations.</p>


FTX's SBF faces conspiracy theories over BALD memecoin involvement; prominent figures refute claims, citing bail conditions and limited internet access.

Conspiracy theory links FTX's SBF to project

Allegations debunked by SBF's limited internet access

BALD memecoin's controversial launch and crash

Is SBF behind the BALD memecoin?

cryptocurrency

memecoins

SBF & BALD memecoin connected? FTX founder faces unsubstantiated conspiracy allegations

SBF & BALD memecoin conspiracy erupts on Twitter

<p>Shiba Inu, the popular canine-based memecoin continues to grab headlines. The memecoin’s testnet, Shibarium, the highly anticipated layer-2 solution, is said to be launched next month.</p>

<p>Following months of teasing and building excitement among the Shib Army, the Shiba Inu network has finally revealed a tentative date for its layer-2 protocol. The release&nbsp;is slated for 15-16 August at the Blockchain Futurist Conference in Toronto, Canada, as per the blog post shared by Shytoshi Kusama, the memecoin’s lead developer. He also mentioned that Shiba Inu has bagged the title sponsorship at the Blockchain Futurist Conference, ETHWomen, and the ETHToronto hackathons. Hence, the event would serve as an ideal platform to share the much-awaited news about Shibarium.</p>

<p>“I think this is a pretty big undertaking. This level of sponsorship puts us in line with major exchanges and projects and strengthens our position as a major player in cryptocurrency,” says Kusama.</p>

<h3>What will the launch offer?</h3>

<p>It must be noted that those attending the conference will have an immersive experience of the Shiba Inu network, with dedicated booths, a VIP Cubana, along with a range of SHIB-themed products, and services, as well as available platforms to explore.</p>

<p>Further, the event will feature the grand whitepaper, titled ‘Worldpaper,’ showcasing all Shib branded projects. It will also offer insights into the crypto’s ecosystem tokens, like SHIB, BONE, LEASH, TREAT, and Shi.</p>

<p>In other words, the said event is just not about Shibarium. Other than the testnet launch, all SHIB-branded projects will be unveiled, thus, displaying a diverse and vibrant ecosystem of the crypto. These projects include Shib the Metaverse, Shiba Eternity, Shibacals, Shiboshis, and Shiba Eternity.</p>


Shiba Inu’s much-awaited testnet, Shibarium, is slated to be launched on 15-16 August at the Blockchain Futurist Conference in Toronto.

Shibarium, the highly anticipated layer-2 solution, is said to be launched next month

Those attending the conference will have an immersive experience of the Shiba Inu network

Shibarium's release date revealed 

The much anticipated Shibarium gets a release date, to be launched during mid-August

The much anticipated Shibarium gets a release date

<p class="text-align-justify">The official Twitter account of ‘ExplainThis Bob’, an AI-powered Twitter bot associated with the Indian who created the crypto token $BOB, was suspended right after Musk accused it of being a crypto scam. According to Musk, the bot account is presumed to be a fake cryptocurrency account.</p>

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<p dir="ltr" lang="en">This sure looks like a scam crypto account. If so, it will be suspended.</p>
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1670234733949624320?ref_src=twsrc%5Etfw">June 18, 2023</a></blockquote>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script></div>

<h3 class="text-align-justify">‘BOB’ is in danger</h3>

<p class="text-align-justify">On 18 June 2023, Musk tweeted in response to the bot that the account was fraudulent, and the account appears to have been suspended shortly after. Musk claimed that the ‘Explain This Bob’ bot was being used to pump and dump a cryptocurrency named ‘BOB’ which led to its suspension from Twitter.</p>

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<p dir="ltr" lang="en">I love Bob</p>
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1648794727238492162?ref_src=twsrc%5Etfw">April 19, 2023</a></blockquote>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script></div>

<p class="text-align-justify">Before being suspended, the Explain This Bob account reportedly had over 400,000 followers. The bot has been developed by Indian developer Prabhu P. Biswal, who utilised OpenAI's GPT-4 model to understand and respond to tweets from users who tagged the account.</p>

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	<li class="editor-readmore"><a class="editor-rel-content" href="https://www.web3cafe.in/artificial-intelligence/story/bitcoin-enthusiasts-created-a-chatbot-using-satoshi-as-inspiration-569110-2023-06-01">Bitcoin founder Satoshi Nakatomo is now an AI chatbot</a></li>
</ul>

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<p class="text-align-justify">Additionally, the initiative was connected to the April-launched ERC-20 memecoin Bob Token (BOB). The suspension of ‘Explain this Bob’ caused a more than 30 percent decrease in the price of BOB.</p>

<h3 class="text-align-justify">Musk was ‘impressed’ by Bob</h3>

<p class="text-align-justify">Previously, Elon Musk, the tech tycoon, was impressed by Bob's response that it could explain any tweet and respond with the words ‘I love Bob’. And right after Musk’s response, the token price saw a bull run, <a href="https://www.web3cafe.in/cryptocurrency/memecoins/story/explain-this-bob-ai-bot-from-odisha-trends-on-twitter-sees-1000-increase-in-its-crypto-valuation-579929-2023-06-15">leading to a 1000 percent price gain and a tenfold surge</a> in trading volume in only two weeks.</p>

<h3 class="text-align-justify">‘FREEBOB’ on trend</h3>

<p class="text-align-justify">However, Twitter has not taken any legal action against the Bob token account. The team behind the project hilariously reacted to the news of the suspension by posting a meme showing Musk watching a distressed ‘Bob’ in jail.</p>

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<p dir="ltr" lang="qme"><a href="https://twitter.com/hashtag/FREEBOB?src=hash&amp;ref_src=twsrc%5Etfw">#FREEBOB</a> <a href="https://t.co/SOUm7opQ7o">pic.twitter.com/SOUm7opQ7o</a></p>
— Bob (@BobEthToken) <a href="https://twitter.com/BobEthToken/status/1670407943890542592?ref_src=twsrc%5Etfw">June 18, 2023</a></blockquote>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script></div>

<p class="text-align-justify">The hashtag ‘FREEBOB’ has been trending on crypto twitter since the ban. The majority of observers believe that BOB is not a scam currency and that the suspension is unjustified since the token's launch was fair and because BOB was fully decentralised and has a 0 percent tax system.</p>

<p class="text-align-justify">However, others claim that the team didn't give themselves any tokens or airdrops before the introduction of the Bob token in April.</p>

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<p dir="ltr" lang="en">So does <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> plan to provide any proof of <a href="https://twitter.com/search?q=%24BOB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BOB</a> being a scam or are we just expected to take his word for it?<br />
<br />
Intrigued to understand what constitutes a scam crypto account <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a>?<br />
<br />
Renounced contract<br />
0 tax<br />
0 team tokens<br />
Fully decentralised<br />
Fair launched<br />
<br />
Can you explain… <a href="https://t.co/0U2nuUsyqB">pic.twitter.com/0U2nuUsyqB</a></p>
— Crypto Boss (CB) 😎 (@Cryptoboss2000) <a href="https://twitter.com/Cryptoboss2000/status/1670405871124328450?ref_src=twsrc%5Etfw">June 18, 2023</a></blockquote>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script></div>

<p class="text-align-justify">In May of last year, 2022, numerous investors put money into the meme craze as a result of how quickly popular memes like PEPE, BOB, and others have risen in popularity.</p>

<p class="text-align-justify">Yet, memecoin is an investment and speculation with significant risks, so it has to be carefully researched and funded. This is due to the fact that a large number of memecoin fraudsters appear to defraud individuals of their money whenever the value of memecoins reaches a high or low point.</p>


Musk claimed that the ‘Explain This Bob’ bot was being used to pump and dump a cryptocurrency named BOB token (BOB),  which led to its suspension from Twitter.


Twitter suspends AI bot account connected to memecoin named $BOB

The ERC-20 memecoin BOB was connected to the bot

The majority of observers believe that BOB is not a scam currency

‘Explain This BOB’ is suspended by Elon Musk

Elon Musk flags Indian memecoin AI bot as possible fraud, could this truly be a scam?

BOB token is a scam or rugpull? Check all the details!

Artificial Intelligence

<p class="text-align-justify">Elon Musk's encouraging tweet helped the BOB token (BOB), the native token of the ‘Explain This Bob’ bot, saw an astonishing rise of over 1,000 percent since its launch. 'Explain This Bob' operates at the cutting edge of contemporary events, including memes, social media, cryptocurrency, and artificial intelligence.</p>

<h3 class="text-align-justify">What’s this BOB?</h3>

<p class="text-align-justify">BOB token, the newest meme coin on the market, was introduced in April 2023 and quickly caught the attention of several notable investors, including Musk. Musk appreciated the reactions to the virtual explanation and even went so far as to express his admiration for the token on Twitter.</p>

<div id="tab-link-wrapper-plugin">
<div class="heading-text">Also read</div>

<ul class="tab-link">
	<li class="editor-readmore"><a class="editor-rel-content" href="https://www.web3cafe.in/artificial-intelligence/tools/story/google-ai-help-me-write-tool-for-writing-emails-579830-2023-06-15">Gmail to get ‘Help me write’ AI feature on phones to write emails for you! Here’s how it works</a></li>
</ul>

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<p class="text-align-justify">Prabhu P. Biswal, an entrepreneur who lives in Bhubaneswar, Odisha, claimed to be the founder and manager of ‘Explain this Bob’. He manages a number of modest e-commerce websites and applications.</p>

<h3 class="text-align-justify">Reason behind the tenfold surge in Bob’s price</h3>

<p class="text-align-justify">The ‘Bob Is Here To Explain’ Twitter account is an AI bot that answers everyone who tags @ExplainThisBob. Bob often responds by summarising the meaning of the primary tweet in the thread in plain language.</p>

<p class="text-align-justify">It all began in a threaded discussion when Elon Musk asserted that Twitter's data was sold to outside parties. Musk responded to a Twitter user who criticised the platform for not paying the Twitter API's fees, saying that stealing the Twitter database, demonetizing it (removing ads), and then selling our data to others isn't a winning approach.</p>

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<p dir="ltr" lang="en">I’m open to ideas, but ripping off the Twitter database, demonetizing it (removing ads) and then selling our data to others isn’t a winning solution</p>
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1648793947806871556?ref_src=twsrc%5Etfw">April 19, 2023</a></blockquote>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script></div>

<p class="text-align-justify">Bob entered the chat and gave a far more basic explanation of Elon's tweet. The automated response said, ‘Twitter does not want to sell their database, and the idea of taking away ads is not a good way to make money.’</p>

<p class="text-align-justify">The tech tycoon was impressed by Bob's response that it can explain any tweet and responds with the words ‘I love Bob’. And right after Musk’s response, the token price saw a bull run, leading to a 1000 percent price gain and a tenfold surge in trading volume in only two weeks.</p>

<div class="embedcode">
<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">I love Bob</p>
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1648794727238492162?ref_src=twsrc%5Etfw">April 19, 2023</a></blockquote>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script></div>

<p class="text-align-justify">At the time of writing this news, the price of BOB is $0.000020 USD with a 24-hour trading volume of $17,390,509 USD. The highest price paid for BOB Token (BOB) is $0.00021819, which was recorded on 6 May, 2023.</p>

<h3 class="text-align-justify">Can Bob be the official twitter AI mascot?</h3>

<p class="text-align-justify">In an exclusive interview with Business Today, Prabhu P. Biswal explained that he originally intended to create an explanatory bot for coding practice and learning. He continued to add complex filters and features to the bot in order to enhance its capacity to respond.</p>

<p class="text-align-justify">When questioned if he also created the $BOB coin, he said that a group of individuals who are really enthusiastic about Bob's capabilities are helping and sponsoring him in this attempt. The bot was first created in two days, but it took weeks to improve its features, and the developer is still working on adding additional features to the bot.</p>

<p class="text-align-justify">He is also excited about the future of ‘Explain This Bob’ because he is working to introduce the bot's automatic video and audio features. The automated tool will be made available to everyone on Twitter as soon as we reduce it to under a minute, he continued.</p>

<div class="embedcode">
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<p dir="ltr" lang="en">Can Bob be the official X/Twitter A.I mascot, <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a>? <a href="https://t.co/RPxxt2cV8w">pic.twitter.com/RPxxt2cV8w</a></p>
— Bob Is Here To Explain (@ExplainThisBob) <a href="https://twitter.com/ExplainThisBob/status/1668686214541484036?ref_src=twsrc%5Etfw">June 13, 2023</a></blockquote>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script></div>

<p class="text-align-justify">Before tokens came out, the bot's backend cost was about $50; now, it costs more than $3,000 per month. My team allowed me to employ a more potent AI model. The backend cost will go up much more, as I already have plans to build Bob for additional platforms like Telegram, Discord, and Reddit. Before the BOB token and without my team, I wouldn't have been able to manage this expenditure, Prabhu added.</p>


The 'Explain this Bob' bot, which is based on the GPT-4 model, has taken over Twitter by giving intelligent and correct responses.


Elon Musk's tweet about how much he liked 'Bob' rocketed the AI bot to fame

Featuring PEPE the Frog, the BOB token is a meme currency

Bob’s price saw a bull run, leading to a 1000 percent

'Explain This Bob' AI bot trends on Twitter, sees 1000% increase

'Explain This Bob' AI bot from Odisha trends on Twitter, sees 1000% increase in its crypto valuation

This meme coin saw a 1000% jump after Musk's tweet

Metaverse

<p class="text-align-justify">Shiba Inu, the renowned meme coin project, has revealed its plans to introduce four interesting metaverse centres later in 2023. Lucie Sasnikova, a member of the Shiba Inu marketing team, used Twitter to inform the public of this much awaited development.<br />
&nbsp;</p>

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<div class="heading-text">Also read</div>

<ul class="tab-link">
	<li class="editor-readmore"><a class="editor-rel-content" href="https://www.web3cafe.in/metaverse/story/metaverse-vs-virtual-reality-whats-the-difference-546268-2023-04-21">Metaverse vs Virtual Reality: Knowing the Differences</a></li>
</ul>

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<h3 class="text-align-justify">What are these Shiba hubs?</h3>

<p class="text-align-justify">Shib: The Metaverse stands out as a project that uses Shiba Inu for more purposes than just as a meme coin. Shiba Inu member, Lucie and metaverse adviser Marcie Jastrow addressed four upcoming Metaverse disclosures during a Twitter Spaces session.<br />
&nbsp;</p>

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<blockquote class="twitter-tweet">
<p dir="ltr" lang="en"><a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> to Reveal 4 Metaverse Hubs By September <a href="https://t.co/nK73HCVt5j">https://t.co/nK73HCVt5j</a></p>
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) <a href="https://twitter.com/LucieSHIB/status/1658506180400955392?ref_src=twsrc%5Etfw">May 16, 2023</a></blockquote>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script>
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<p class="text-align-justify"><script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script></p>
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<p class="text-align-justify">Lucie Sasnikova announced that the group behind ‘Shib: The Metaverse’ is doing tremendous work on establishing their Metaverse project, which rapidly attracted a sense of excitement. Each hub is created to provide Shiba Inu fans with fascinating metaverse experiences and immersive interactions.</p>

<h3 class="text-align-justify">How Soon Will SHIB: The Metaverse Be Available?</h3>

<p class="text-align-justify">Some notable developments include the launch of a new Twitter account, the concept art for the 11 Metaverse hubs, and the hiring of elite entertainment industry experts to strengthen the Metaverse team.<br />
&nbsp;</p>

<div class="embedcode">
<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">Shib the Metaverse- <a href="https://twitter.com/mvshib?ref_src=twsrc%5Etfw">@mvshib</a><br />
<br />
We had the lovely <a href="https://twitter.com/marciejastrow?ref_src=twsrc%5Etfw">@marciejastrow</a> lead from SHib the Metaverse in spaces yesterday who answered a few questions.<br />
<br />
Which hubs will be revealed?<br />
<br />
By September, 4 hubs are expected to be revealed<br />
<br />
- Wagmi,<br />
- Rocket Pond<br />
- Ryoshi<br />
- Tech Trench<br />
<br />
How will… <a href="https://t.co/aJycIpyORb">pic.twitter.com/aJycIpyORb</a></p>
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) <a href="https://twitter.com/LucieSHIB/status/1658420918803128320?ref_src=twsrc%5Etfw">May 16, 2023</a></blockquote>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script>
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<div class="embedcode">
<p class="text-align-justify"><script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script></p>
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<p class="text-align-justify">The discussion specifically mentioned that four hubs will be made public by September 2023. These include Wagmi, Rocket Pond, Ryoshi, and Tech Trench.</p>

<p class="text-align-justify">Jastrow then reported that the project is now planned for release on PC, mobile, and VR. A specific prediction made by the Shib team was that people would be able to access the virtual world by the end of 2023.</p>

<h3 class="text-align-justify">The Shiba Inu Metaverse: What are the key features?</h3>

<p class="text-align-justify">According to the Shiba Inu community, they are aiming to provide their customers with a creative 3D virtual world where they can explore and have a fantastic time in the Metaverse. In order to explore, visit, and interact with places as well as to support the game's economy, players can develop their own humanoid, dog-shaped avatars in the Metaverse.</p>

<p class="text-align-justify">The three crypto currencies that will be utilised in the Shiba Inu Metaverse are SHIB, LEASH, and BONE; Ethereum (ETH) will be used to buy real estate in the Metaverse reality.</p>

<p class="text-align-justify">Developers of the Shiba Inu platform declared that the project's Metaverse will increase the usefulness of the ecosystem's Shiba Inu. The creators said, "However, it should be noted that not all locations of the Metaverse will be developed as it is a continuing work.”</p>

<p class="text-align-justify">Landowners may utilise their plots to gather game materials, gain awards, and generate passive revenue. The creators also want to offer a way for participants to make money and give them access to a private area where they can build and manage their projects.</p>

<p class="text-align-justify">A much-awaited initiative inside the SHIB Army is the Shiba Inu Metaverse. Additionally, as Shibarium's space grows, the community is eagerly anticipating any changes and related announcements.</p>


The Shiba Inu ecosystem is ready to reach new heights as a result of these planned metaverse hubs, which will also offer people engaging options.

Shiba Inu, the first memecoin to have a decentralised metaverse project

Players can develop their own humanoid, dog-shaped avatars

Shib project is planned for release on PC, mobile, and VR 

Shiba Inu to introduce four new metaverse hubs

Shiba Inu community to unveil four new metaverse hubs by September 2023

Shiba Inu: Four new metaverse hubs in September 2023

<p>Amid the debate on whether meme coins have utility or not, a new meme coin, known as Pepe Coin is currently hogging the limelight. Over the past couple of weeks, crypto enthusiasts have been pouring money into Pepe Coin. Today, let us explore this meme coin.</p>

<h3 id="tab-video-wrapper-plugin">What is Pepe Coin?</h3>

<p>The crypto made its debut on 16 April 2023, without any presale and in a discreet manner. Its founders remain anonymous, though the team behind the project has successfully garnered attention and fostered a community around the meme coin. Its native token is PEPE.</p>

<p>In fact, the token is based on the iconic Pepe the Frog internet meme, created by Matt Furie, which gained popularity in the early 2000s. Further, its design is influenced by the iconic green frog and is tailored to the preferences of meme coin patrons.</p>

<p>As per Coinmarketcap, Pepe Coin aims to institute a no-tax policy, a burning mechanism to maintain its scarcity as well as a redistributive system rewarding long-term stakers.</p>

<h3>Know Pepe’s consensus mechanism</h3>

<p>This meme coin has been launched on the Ethereum blockchain. It is secured by the Proof-of-Stake (PoS) consensus mechanism.</p>

<h3>Where to purchase the Pepe Coin?</h3>

<p>Pepe Coin can be easily traded on various renowned cryptocurrency exchanges. Some of these are Uniswap, Gate.io, Huobi, Binance, OKX, Bybit, MEXC, etc.</p>

<div id="tab-link-wrapper-plugin">
<div class="heading-text">Also Read</div>

<ul class="tab-link">
	<li class="editor-readmore"><a class="editor-rel-content" href="https://www.web3cafe.in/cryptocurrency/memecoins/story/all-you-need-to-know-about-the-top-3-memecoins-dogecoin-shiba-inu-floki-538558-2023-04-06">Top memecoins by market cap- Dogecoin, Shiba Inu &amp; Floki</a></li>
</ul>

<div id="tab-video-wrapper-plugin">&nbsp;</div>
</div>

<h3>Pepe's price performance&nbsp;</h3>

<p>Interestingly, despite the lack of seriousness, this meme coin has witnessed stunning growth in its market capitalisation since its inception and is currently ranked 59th among all cryptos worldwide.</p>

<drupal-entity data-caption="Pepe Coin: The latest trending meme coin" data-embed-button="ckeditor_image" data-entity-embed-display="view_mode:media.image" data-entity-type="media" data-entity-uuid="54ad2d30-0f33-4e3c-8568-e30d0f2c301d"></drupal-entity>

<p>In fact, over the last few weeks, Pepe Coin holders have been making spectacular profits, witnessing a nearly 5,000,000% rise in its price. Moreover, owing to its seemingly overnight success, this coin has been listed on MEXC Global, a crypto exchange designed with a focus on meme coins.</p>

<drupal-entity data-caption="Pepe Coin&amp;#039;s price performance" data-embed-button="ckeditor_image" data-entity-embed-display="view_mode:media.image" data-entity-type="media" data-entity-uuid="5adc12b6-4d23-448f-b0d0-485432f23c9d"></drupal-entity>

<p>However, the token is down by about 45 percent after setting a peak of $0.00000431 on Friday, thereby reaching a market cap of $1.8 billion just over three weeks since its issuance in mid-April. Moreover, as per CoinDesk, a pseudonymous trader spent merely $263 three weeks ago to buy trillions of PEPE tokens. And, as of Monday, this trader continues to hold over $5 million worth of the tokens.</p>

<p>Here, it must be mentioned that experts have repeatedly raised concerns about investors’ behaviour who had purchased huge amounts of PEPE, sparking the risk of too much of the trending coin in a few hands looming over the short-term future. In fact, those who are looking to invest in the volatile and risky world of cryptos must undertake a thorough study of the desired cryptocurrency and invest according to their risk appetite.</p>

<h3>What is Pepe’s current value?</h3>

<p>At the time of writing this article, the meme coin declined by 23.61 percent and is at $0.000001868. Currently, it has a circulating supply of 391.79 trillion coins, while its maximum supply is capped at 420.69 trillion coins.</p>

<p class="MsoNormal"><em>[Disclaimer:<span style="mso-spacerun:yes">&nbsp; </span>All of the information in this opinion piece/story/article is for educational purposes only and is not investment or financial advice. We suggest you do your own research before making any investment decisions. Cryptocurrencies and NFTs are volatile and high-risk in nature. Don't invest more than what you can afford to lose. India Today will not be liable for any loss incurred if you refer to this article for details on crypto or any other form of investment.]</em></p>

<p class="MsoNormal"><o:p>&nbsp;</o:p></p>


Pepe Coin has been the latest buzzword these days. In just a few weeks of its inception, its value has skyrocketed, and everyone’s talking about it.

Pepe Coin is is currently hogging the limelight

Launched in April this year, the meme coin has witnessed overnight success

It is based on on the iconic Pepe the Frog internet meme

Explainer: What is Pepe Coin?

What is Pepe Coin & why is it trending? All you need to know

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">Dogecoin, the well-known memecoin, witnessed a growth of about 30 percent today, soon after </span><span style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;background:white">Twitter CEO, Elon Musk changed the social media platform’s logo into the dog meme.<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
background:white">On Tuesday, Twitter changes its </span><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">iconic bird logo with a </span><span style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:
Calibri;mso-bidi-theme-font:minor-latin;background:white">cartoon of the Shiba Inu that is the face of the Doge meme, </span><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">on its homepage, </span><span style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin">creating a frenzy among the coin holders</span><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">, though t</span><span style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;background:white">here was no change on Twitter's mobile app.</span><span style="font-size:12.0pt;line-height:115%;
mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;mso-ansi-language:
EN-IN"> <span lang="EN-IN">The move </span></span><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">created a frenzy among the coin holders</span><span lang="EN-IN" style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
mso-ansi-language:EN-IN"> and shortly after the change, Dogecoin’s price zoomed over 30 percent, i.e., </span><span style="font-size:12.0pt;line-height:115%;
mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;background:white">to more than $0.10 for the first time in months.<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
background:white">Musk, in his typical style, tweeted a meme noting the change.</span></p>

<blockquote class="twitter-tweet">
<p dir="ltr" lang="zxx"><a href="https://t.co/wmN5WxUhfQ">pic.twitter.com/wmN5WxUhfQ</a></p>
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1642962756906418176?ref_src=twsrc%5Etfw">April 3, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
background:white">Musk, a well-known supporter of DOGE<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
background:white">Here, it must be mentioned the above-mentioned dog image is of Shiba Inu which is the logo of Dogecoin, initially started as a joke in 2013.<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
background:white">It must be noted that last year, Elon Musk bought Twitter for $44 billion. He has been responsible for pumping the prices of Dogecoin on several occasions by sharing various references and memes relating to the dog-themed cryptocurrency on his social media feed.</span><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN"><o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
background:white">Interestingly, the Tesla boss did not mention the </span><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">reason for the change. However, some users opine that it was meant to be an April Fool's Day gag that the company could not bring in on time on 1 April.</span><span style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;background:white"><o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">According to Dhruvil Shah, SVP Technology at Liminal, a wallet infrastructure and custody solutions platform,</span><span style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:
Calibri;mso-bidi-theme-font:minor-latin;background:white"> “The price movement of DOGE is mainly driven by news/speculations but with Elon Must openly supporting the meme coin, we can expect DOGE to find a mass use case on the Twitter platform. The latest DOGE rally is mainly due to Twitter changing its logo to the DOGE icon, which suggests that Twitter might become an integral part of Twitter’s transition from Web2 to Web3 entity.”</span><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN"><o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">At the time of writing this article, Dogecoin was up by 25.15 percent to $0.09853 over the last 24 hours.<o:p></o:p></span></p>


Elon Musk-backed Dogecoin rises following Twitter's move of replacing its iconic blue bird logo with Shiba Inu.

Twitter has changed its logo with a cartoon of the Shiba Inu 

This has caused the price of Dogecoin to surge

Elon Musk tweeted a meme noting the change

Dogecoin witnesses a growth in its prices

Dogecoin surges after Twitter replaces its logo with Shiba Inu

<p class="text-align-justify">During the Dogecoin boom that Elon Musk sparked on Monday, April 3, 2023, a cryptocurrency trader known on Twitter as "Tree of Alpha" made a profit of approximately $1 million.<br />
<br />
Tree of Alpha, a trader from Western Europe, reported to The Block, a platform providing information about the crypto world that, "I made $1.1 million in 30 minutes on an $8 million total position size." It all began when Tree of Alpha, who refuses to give his real name, heard someone write in the Tree News Discord chat room that they mistakenly thought the Dogecoin symbol was the Twitter logo.<br />
&nbsp;</p>

<div class="embedcode">
<blockquote class="twitter-tweet">
<p class="text-align-justify" dir="ltr" lang="en">1/ Yesterday's Doge trade: On reacting, Sizing, and being degenerate when you need to be.<br />
The essence of News Trading isn't speed, it is knowing when to size up.<br />
<br />
I all started when someone in the Tree News Discord posted that they were seeing the Doge icon as the Twitter logo. <a href="https://t.co/483AnBWMUk">pic.twitter.com/483AnBWMUk</a></p>
</blockquote>

<blockquote class="twitter-tweet text-align-justify">— Tree of Alpha (@Tree_of_Alpha) <a href="https://twitter.com/Tree_of_Alpha/status/1643180933233745924?ref_src=twsrc%5Etfw">April 4, 2023</a></blockquote>

<p class="text-align-justify"><script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script></p>
</div>

<p class="text-align-justify">Dogecoin saw a significant increase of over 27% just after Twitter changed its logo to a Shiba Inu dog. With the possibility of a late April Fool's joke by Elon Musk, the owner of Twitter, Tree of Alpha immediately sold its DOGE transactions.&nbsp;<br />
<br />
<strong>Trading advice from Tree of Alpha</strong><br />
<br />
According to Tree of Alpha, he started purchasing Dogecoin once the new Twitter logo was published. He made three Dogecoin transactions worth $3 million, $2 million and again $3million, and between an average entry price of $0.0815 and an exit price of $0.095, he made a profit of almost $1 million dollars. By far, this is my biggest trade of the year, as Tree of Alpha stated. "Trading requires a lot of patience, but eventually you will meet a few trades like this DOGE one that you must execute flawlessly. Everything else is preparation for those."<br />
<br />
He further said he could "re-enter if Elon, or Twitter official accounts, come out and say something quite positive about it (possible implementations)." He also thinks Twitter might take DOGE as a form of payment. It is conceivable, particularly in light of Musk's crazy behaviour, he added. Everyone should keep an eye out for new updates and developments on the topic by subscribing to relevant accounts.<br />
<br />
He claimed to have begun trading cryptocurrencies in 2017, however, that he didn't begin to see a profit until March 2019, after which he "stopped sketching lines on charts" and began trading events.<br />
<br />
Furthermore, he stated, "My advice to many individuals would be to try to achieve profit asymmetry one way or another. Enter transactions that either have a far better chance of going up, or deals that offer way more upside than downside. I do it by trading news and events."<br />
&nbsp;</p>


As the price of Dogecoin rose, it benefited a trader with $1.1 million in just 30 minutes.

Dogecoin increased by 27% as the Twitter logo changed

A trader made $1 million after the Twitter’s blue bird logo got replaced

In the future, Twitter might accept DOGE as a form of payment

Dogecoin rises on Twitter: One trader makes $1.1 million

Dogecoin rises: One trader makes $1.1 million in 30 minutes

Dogecoin trader gains $1.1 million

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">With the explosion of cryptocurrencies, memecoins have been garnering attention. In fact, </span><span style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;background:white">memecoins have often been seen as joke tokens without real-world use. However, not all memecoins fall under the same category. Some of them have real-world use cases and have witnessed a tremendous rally in their prices. <o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
background:white">This article would talk about top memecoins by their market capitalisation.</span><span lang="EN-IN" style="font-size:12.0pt;line-height:
115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;mso-ansi-language:
EN-IN"><o:p></o:p></span></p>

<h3 class="MsoNormal" style="text-align: justify;"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">Dogecoin <o:p></o:p></span></h3>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">Initially started as a joke, Dogecoin is an open-source peer-to-peer digital currency, founded by Billy Oregon and Jackson Palmer and was forked from Litecoin in 2013. It is one of the most popular memecoins across the world, having a current market cap of about $13.47 billion and its native token is DOGE.<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">Interestingly, the memecoin is reportedly backed by Elon Musk, the Tesla boss, who is the second-richest person in the world</span><span style="font-size:12.0pt;line-height:115%;
mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;background:white">. He is a vocal proponent of cryptocurrencies and has heavily influenced prices for Dogecoin. He is even </span><span style="font-size:12.0pt;line-height:115%;
mso-fareast-font-family:&quot;Times New Roman&quot;;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;background:white">involved in a legal battle around it, according to reports.</span><span lang="EN-IN" style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
mso-ansi-language:EN-IN"><o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">Currently, Dogecoin is priced at $0.09841 with a 2.76 percent decline over the last 24 hours.</span><span lang="EN-IN"> </span></p>

<h3 class="MsoNormal" style="text-align: justify;"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">Shiba Inu <o:p></o:p></span></h3>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">Another canine-based memecoin is Shiba Inu, a spinoff of Dogecoin which trades in fractions of cents. At present, its market cap stands nearly at $6.71 billion and its native token is known as SHIB. <o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">It must be noted that SHIB is an ERC-20 token based on Ethereum, a proof-of-work blockchain currently transitioning to proof-of-stake.<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">At the time of writing, Shiba Inu was trading at $0.00001135, down by 0.58 percent over the previous day.<o:p></o:p></span></p>

<h3 class="MsoNormal" style="text-align: justify;"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">Floki<o:p></o:p></span></h3>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">Coming up next is Floki, which is also a canine-based memecoin. At times, it is also referred to by "Floki Inu" and its market capitalisation is about $311 million. Its utility token is FLOKI.<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">It is pointed out that Tesla CEO, Elon Musk, in September 2021, shared an image of his pet known as 'Shiba Inu' on Twitter with the caption ‘Floki has arrived’. Interestingly, memecoin 'Floki Inu' based on the name of the pet, zoomed by 1000 percent only in two days post its debut. <o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">The memecoin is working on its flagship utility projects, namely, Valhalla, an NFT gaming metaverse; FlokiPlaces, an NFT and merchandise marketplace; and University of Floki, a content and education platform, among others. The meme-based crypto coin is hosted on both the Ethereum blockchain as well as Binance Smart Chain (BSC).<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">As of now, Floki is trading at $0.00003466 with a decline of 7.14 percent over the last day.<o:p></o:p></span></p>


Memecoin is a term used for those cryptocurrencies which are depicted with comical or animated memes, While some of them may have real-world use cases, others may be fun, and may hold little or no intrinsic value.

Memecoins have become the latest buzzword

Dogecoin, Shiba Inu and Floki are some ofthe well-known memecoins

Dogecoin is often touted as Elon Musk's favourite

Top memecoins by market cap- Dogecoin, Shiba Inu & Floki

Know the top 3 memecoins-Dogecoin, Shiba Inu & Floki

<p class="text-align-justify">According to the data from Whale Alert, a cryptocurrency transaction tracker company, shows that a very old DOGE wallet has shifted on the blockchain. A total of 1,215,614 DOGE, or approximately $116,000 at the current currency rate, has been held in the balance of the address in question for 9.3 years without any action.<br />
&nbsp;</p>

<div class="embedcode">
<blockquote class="twitter-tweet">
<p class="text-align-justify" dir="ltr" lang="en">💤 A dormant address containing 1,215,614 <a href="https://twitter.com/hashtag/DOGE?src=hash&amp;ref_src=twsrc%5Etfw">#DOGE</a> (116,460 USD) has just been activated after 9.3 years!<a href="https://t.co/VNbeIc1Cza">https://t.co/VNbeIc1Cza</a></p>
</blockquote>

<blockquote class="twitter-tweet text-align-justify">— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1643320437714083843?ref_src=twsrc%5Etfw">April 4, 2023</a></blockquote>

<p class="text-align-justify"><script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script></p>
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<p class="text-align-justify">The transfer information related to the said wallet is given below:</p>

<drupal-entity data-caption="A Dogecoin wallet with 1,215,614 DOGE has been recovered" data-embed-button="ckeditor_image" data-entity-embed-display="view_mode:media.image" data-entity-type="media" data-entity-uuid="203f2dc1-3beb-4054-a542-978778803f1b"></drupal-entity>

<p class="text-align-justify">This transaction involved the holder sending out roughly 823 DOGE ($79) on 04 April, 2023. Given that the investor quickly made another transfer of 116,000 DOGE ($11,100) following this very tiny transfer of $79, it is possible that this one was just a test transaction.<br />
<br />
<strong>Some recent transactions - why the transactions was not triggered when prices were higher</strong><br />
<br />
The address's most recent transaction, which ended the wallet's spell of dormancy, took place on January 16, 2014. Around 2,393 DOGE were transferred to this location. The address had previously seen a continuous stream of several of these minor contributions before this final transaction. On December 21, 2013, the first transaction involving this Dogecoin wallet occurred wherein only 0.1 DOGE entered the address during this transfer.<br />
<br />
It's notable that this address initially started receiving payments two weeks before Dogecoin, which launched on December 6, 2013. This implies that the owner of this wallet was probably one of the coin's first users.<br />
The address received DOGE totaling approximately $412 during the period it was active back in the day, as per reports.<br />
<br />
According to this, the wallet made a massive 28,055 percent profit during its dormant period. But if the address had been active when Dogecoin was at its all-time high of $0.74 in May 2021, the same stack of coins would have been worth approximately $900,000, or a gain of 218,346.6 percent.<br />
<br />
It's difficult to say why the address has been activated now rather than when prices were much higher. Addresses that have been dormant for so long are usually those whose keys have been lost, and the holder has only recently discovered them.<br />
<br />
Due to Twitter changing its image to the DOGE meme over the past several days, Dogecoin has experienced rapid bullish momentum. If the keyholder had discovered the keys in the past, such as at the bear lows, the current high prices may have felt like the best time to conduct some transactions.<br />
<br />
The wallet is still holding a balance of roughly $106,500, indicating that the investor hasn't yet spent all of it.<br />
&nbsp;</p>


A very old DOGE wallet has finally made a movement after being inactive for  9.3 years.

A Dogecoin wallet with 1,215,614 DOGE has been recovered

The wallet had been held for 9.3 years without action

Addresses that have been dormant for a long time are lost

After 9.3 years, a Dogecoin awakens worth $1166,000

Dogecoin wallet worth $1166,000 awakens after 9.3 years of dormancy

Dogecoin wallet worth $1166,000 awakens

<p class="text-align-justify">After posting a mysterious tweet, Burger King United Kingdom caught the eye of the crypto world. According to reports, a Burger King restaurant in the UK tweeted, "Trying to convince my manager to allow me to have an office doge," in response to a crypto user's tweet, "We need doge."<br />
<br />
<strong>The 'BiteCoin' Crowd Reacts to Dogecoin</strong><br />
<br />
Burger King UK caused another buzz in the cryptocurrency world with a tweet that stated, “brb, I'm making BiteCoin.”<br />
&nbsp;</p>

<div class="embedcode">
<blockquote class="twitter-tweet">
<p class="text-align-justify" dir="ltr" lang="en">brb I’m making BiteCoin</p>
</blockquote>

<blockquote class="twitter-tweet text-align-justify">— Burger King (@BurgerKingUK) <a href="https://twitter.com/BurgerKingUK/status/1644791723170619396?ref_src=twsrc%5Etfw">April 8, 2023</a></blockquote>

<p class="text-align-justify"><script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script></p>
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<p class="text-align-justify">The recent conversations between Burger King and DOGE have created a lot of buzz, especially among cryptocurrency enthusiasts who are hopeful that the fast food restaurant will start accepting their chosen digital currencies.&nbsp;<br />
Although others pushed Burger King to accept Dogecoin, another user claimed that the fast food chain had simply created an imaginary coin. The Dogecoin community responded to the tweet right away, which caused a rise in the memecoin's price. According to the most recent Coingecko update, the price of DOGE has increased by almost 1.0% on 8 April 2023.<br />
<br />
<strong>The DOGE Interest of Burger King</strong><br />
&nbsp;</p>

<div class="embedcode">
<blockquote class="twitter-tweet">
<p class="text-align-justify" dir="ltr" lang="en">We know what you really mean 😏 <a href="https://t.co/EjSr3ykK9c">pic.twitter.com/EjSr3ykK9c</a></p>
</blockquote>

<blockquote class="twitter-tweet text-align-justify">— Bernard (@muchradiodoge) <a href="https://twitter.com/muchradiodoge/status/1644792257558577155?ref_src=twsrc%5Etfw">April 8, 2023</a></blockquote>

<p class="text-align-justify"><script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script></p>
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<p class="text-align-justify">Burger King Brazil announced in 2021 that customers would be able to pay with Dogecoin to purchase their Dogpper dog food, which helped the cryptocurrency gain more popularity. With a national ad campaign, the fast food giant continued to push the item and increase Dogecoin's visibility.<br />
<br />
<strong>Affection for DOGE among Twitter users</strong><br />
<br />
Twitter users recently realised that their home buttons had been replaced with the popular Doge meme, which caused Dogecoin to undergo a spectacular increase in value.<br />
<br />
A social analytics platform called LunarCrush reports that Dogecoin had a busy week, with its average hourly social dominance rising to 7.54%, an impressive gain of 212%. Additionally, the number of unique contributors to social media on an hourly average increased by a staggering 381%, while the total number of social interactions rose to 1.97 billion, an increase of 990%.<br />
<br />
Analysts are sure that the most recent development will dramatically change the growth trajectory of Dogecoin, given the positive reaction from Twitter users.<br />
<br />
Indeed, many predict that DOGE will reach an all-time high before the end of 2023, making this a thrilling time for the Dogecoin community.<br />
&nbsp;</p>


Burger King UK's mysterious tweet, “brb, I'm making BiteCoin" draws attention to Dogecoin.

Burger King's BiteCoin tweet draws attention to Dogecoin

The tweet stated, “brb, I’m making Bitecoin”

DOGE is expected to reach an all-time high before the end of 2023

Burger King's hint at a mysterious 'BiteCoin' excites the Dogecoin community

'BiteCoin' tweet creates a lot of buzz

<p class="text-align-justify">Elon Musk has a history of expressing his views on a variety of topics, and is well known for having a strong interest in his favourite coin, Dogecoin. And now he's in hot water because of Dogecoin.<br />
<br />
According to reports by Reuters, Elon Musk, the Chief Executive of Tesla, is requesting that the judge dismiss the $258 billion lawsuit brought against him for allegedly promoting Dogecoin unlawfully.<br />
<br />
<strong>A fanciful piece of fictional complaint</strong><br />
<br />
The complaint was described as a "fanciful piece of fiction" by Elon Musk's lawyers. Musk's lawyers said in federal court in Manhattan that the case brought by Dogecoin investors is nothing more than fictional work. They added that it was brought about by Musk's "harmless and frequently foolish tweets" regarding Dogecoin.<br />
<br />
Musk's lawyers also highlighted Musk's failure to illustrate how his tweets were intended to defraud anyone. They also stated that Musk's statements, such as "Dogecoin Rulz" and "no highs, no lows, only Doge," were not enough to prove fraud.<br />
<br />
According to lawyers, "There is nothing illegal about tweeting words of support for, or funny pictures of, a legitimate cryptocurrency with a market cap of nearly $10 billion. This court should put an end to the plaintiff’s fantasy by rejecting the complaint.”<br />
<br />
The price of Dogecoin has definitely risen in response to the news. Dogecoin was trading at $0.07915 at the time of writing, a 3.5 percent decrease in value over the previous 24 hours. However, there was a 6 percent increase following the lawsuit news.<br />
<br />
<strong>The $258 billion lawsuit's history</strong><br />
<br />
In June 2022, a plaintiff by the name of Keith Johnson filed a $258 billion lawsuit in federal court in Manhattan on behalf of a group of Dogecoin investors. Musk was accused by the man of hyping Dogecoin's advantages and causing a pump-and-dump scenario for the cryptocurrency.<br />
<br />
Additionally, it was claimed in the lawsuit that Musk actively pushed Dogecoin despite knowing that since 2019 it had no value in order to make money from its trade. It also mentioned how Musk had used the Dogecoin pyramid scheme for gain, attention, and entertainment. They also decided to seek an injunction to prevent Elon Musk and his companies from promoting Dogecoin.<br />
<br />
Elon Musk appears unconcerned about the lawsuit, tweeting frequently about the memecoin. He is no stranger to lawsuits over his tweets, which have previously sparked controversy.</p>

<p class="text-align-justify"><br />
&nbsp;</p>


Elon Musk seeks judges to reject a lawsuit involving $258 billion worth of Dogecoin.

Elon Musk is requesting the dismissal of the DOGE lawsuit worth $258 billion

 The complaint was described as a "fanciful piece of fiction"

Dogecoin's price increased by 6% following lawsuit news

Elon Musk asks for the DOGE lawsuit, valued $258 billion, to be dropped.

Elon Musk asks dismissal of $258 billion lawsuit against Dogecoin 

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
mso-bidi-font-size:11.0pt;line-height:115%">The cryptocurrency sector has taken a lot of heat for its carbon footprints. In addition to cryptocurrency mining, crypto transactions are also receiving their share of the backlash. However, several cryptos have come up with sustainable ways to process transactions. Dogecoin is one such token that is in the news right now for this precise reason.<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
mso-bidi-font-size:11.0pt;line-height:115%">Dogecoin, which started as a silly joke, has gradually proved to be more suitable for crypto transactions due to its less carbon impact, according to a study. In fact, Musk's favorite, Dogecoin, has seen its carbon emissions drop by 25% in one year. In other words, DOGE released 1,063 tons of emissions in 2022, compared to 1,423 tons in 2021. Simply put, Dogecoin only uses 0.12 kWh per transaction, as opposed to Bitcoin's 1,183.58 kWh.<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
mso-bidi-font-size:11.0pt;line-height:115%">The said decline in Dogecoin's energy consumption can be attributed to Tesla boss, Elon Musk. He had previously disclosed collaborating with Dogecoin developers to increase the currency's functionality.<o:p></o:p></span></p>

<h3 class="MsoNormal" style="text-align: justify;"><span style="font-size:12.0pt;
mso-bidi-font-size:11.0pt;line-height:115%">Environmentalists continue to be critical of Bitcoin<o:p></o:p></span></h3>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
mso-bidi-font-size:11.0pt;line-height:115%">The biggest and most well-known cryptocurrency in the world, Bitcoin, continues to have a significant carbon footprint. Tesla, a well-known maker of electric automobiles, actually stopped accepting Bitcoin for vehicle purchases in 2021 due to worries over the rise in the use of fossil fuels for Bitcoin mining.<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
mso-bidi-font-size:11.0pt;line-height:115%">In terms of high carbon emissions, Bitcoin was followed by Polygon and Bitcoin Cash. Bitcoin Cash uses 18.96 kWh for every transaction, compared to 90.18 kWh for Polygon.<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
mso-bidi-font-size:11.0pt;line-height:115%">On the other hand, Bitcoin's closest competitor, Ethereum,<span style="mso-spacerun:yes">&nbsp; </span>experienced the biggest reduction in carbon emissions last year after switching to a proof-of-stake (PoS) consensus mechanism. The crypto now requires just 0.03 kWh to complete transactions.<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
mso-bidi-font-size:11.0pt;line-height:115%">It must be noted that at time of writing this article, Dogecoin lost by 1.57 percent and is trading at $0.07353, since the previous day.</span></p>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
mso-bidi-font-size:11.0pt;line-height:115%"><o:p></o:p></span>[Disclaimer: All of the information in this opinion piece/story/article is for educational purposes only and is not investment or financial advice. We suggest you do your own research before making any investment decisions. Cryptocurrencies and NFTs are volatile and high-risk in nature. Don't invest more than what you can afford to lose. India Today will not be liable for any loss incurred if you refer to this article for details on crypto or any other form of investment.]<span style="font-size:12.0pt;
mso-bidi-font-size:11.0pt;line-height:115%"><o:p></o:p></span></p>


Dogecoin, the meme currency endorsed by Elon Musk, is once more drawing attention. This time, however, the issue is not the cost but rather the energy use, which has significantly decreased.

The cryptocurrency sector receives a lot of criticism because of its carbon emissions

Bitcoin still has a significant carbon footprint

In a single year, Dogecoin's carbon emissions decreased by 25%

Dogecoin witnessed a decline in its carbon footprint

Elon Musk-backed Dogecoin, sees a 25% reduction in its carbon impact

<p>Meme coins are popular cryptocurrencies which are often modelled around animated memes and are comical in nature. While many have questioned the existence of meme coins, these have been able to garner a substantial amount of following (including Elon Musk)&nbsp;and are valued in the billions today. In this section, we get you all the latest news and updates from the world of meme coins.</p>


Memecoins News and Updates: Find and read latest news on Memecoins cryptocurrency. Check top headlines, videos, photos and breaking news on memecoins, memecoins crypto prices, memecoins cryptocurrency.