Author: mbcrypto

Memecoin Baby Doge Coin (BabyDoge) on Saturday announced that it has surpassed 1.45 million followers on Twitter, after gaining nearly half a million new followers in the past five months.Baby Doge Coin surpasses 1.45 million followers on Twitter.

On April 29, this number was still at the 1.3 million level, while in February it stood at 1 million. Thus, over the past 5 months, the growth has been nearly half a million Twitter followers.This is not the only milestone reached by BabyDoge recently.

Elon Musk tweeted his support today for Dogecoin, in spite of a class action lawsuit filed against him on Thursday claiming his actions involving the meme themed cryptocurrency constituted a Ponzi scheme.

Keith Johnson, a US citizen, lodged the suit against Musk and his businesses Tesla and SpaceX in the Southern District of New York on behalf of himself and those similarly situated, claiming Musk and his business’s activities around Doge defrauded him and other investors.

The complaint alleged that Musk’s consistent messaging that he was a fan of the cryptocurrency led directly to its price spike, and when market conditions changed, investors lost out.

Musk has a long history promoting Dogecoin and the complaint highlights the greatest hits of Musk’s Doge tweets since a satirical article piqued his interest about the meme coin in 2019. The complaint points out that Dogecoin grew in value after Musk’s tweets about it in 2019.

Shiba Inu price tanks over 8% in past 24 hours, m-cap at $4 billionShiba Inu (SHIB), the world’s 16th largest cryptocurrency, is down by over 8% in the last 24 hours.Its current price is $0.000007 with a 24-hour trading volume of $309,129,774 and its current market value is over $4 billion. SHIB is down by over 91% from its all-time high price recorded in October last year.

The live Shiba Inu price today is $0.000007 USD with a 24 hour trading volume of $31,65,49,174 USD.Shiba Inu is down 8.28% in the last 24 hours.It has a circulating supply of 54,90,63,27,88,76,302 SHIB

According to the SHIBA INU website, SHIB is the “DOGECOIN KILLER” and is listed on their own ShibaSwap, a DEX. Shiba Inu coin was created anonymously in August 2020 under the pseudonym “Ryoshi.”

SHIB burn rate up by 466% as 119 million tokens burned in 24 hours.More than 119 million Shiba Inu tokens have been burned over the last 24 hours.This has resulted in SHIB burn rate going up by 465.82%. With more than 410 trillion Shiba Inu tokens burned from the initial supply so far, the coin’s current circulating supply stands at around 557 trillion.

According to the SHIBA INU website, SHIB is the “DOGECOIN KILLER” and is listed on their own ShibaSwap, a DEX, Shiba Inu coin was created anonymously in August 2020 under the pseudonym “Ryoshi.”

Dogecoin has entered the list of top 10 coins by trading volume among 2,000 biggest BSC whales in the last 24 hours. The memecoin is currently trading at around $0.05468 after recording a drop of more than 5% in the past 24 hours. It is around 92% down from its all-time high of $0.7376 in May 2021.DOGE sits on the 6th spot among the top ten coins on trading volume and it is also on the top ten list of the most purchased digital assets by whales on the BNB Chain, previously known as BSC Binance Smart Chain.

DOGE is trading at$0.05325 after showing a decline 6.73 percent in the past 24 hours. The meme coin is dropping pushed down by the overall market decline with Bitcoin falling to $19,000 and Ethereum going below $1,000.

Besides, the biggest Dogecoin influencer Tesla boss Elon Musk has been hit with a lawsuit for promoting Dogecoin, which is referred to as a Ponzi scheme by the plaintiff. He demands Musk to stop promoting DOGE and pay him a total of $285 billion.

After attracting significant capital inflow to rank among the most valuable investment products, Bitcoin has been dislodged from the top ten assets globally based on market capitalization as the flagship cryptocurrency continues to navigate a highly volatile market.With a market capitalization of $390 billion, Bitcoin now ranks in the 16 spot losing its position to high profile traditional financial products.

Over the past year, Bitcoin had sustained its status in the top ten group while cementing its position as one of the best-performing assets in the last decade.

In particular, Gold remains the most valuable asset, with a market capitalization of $11 trillion. Interestingly, Bitcoin has earned comparison to gold, with proponents noting that the crypto will likely take over the precious metal as the presumptive store of value.

The cryptocurrency has now slipped to the 17th position in the list. With a market capitalisation of $11.699 trillion, gold is currently the most valuable asset, followed by Saudi Aramco.

The Bitcoin(BTC) price has dropped to a new 2022 low of $20178, accounting for 70% loss since the November All-Time High of $68789. Thus, the coin price tested the shared support of $20000 and 0.786 FIB level, trying to replenish the bullish momentum. An expected pullback due to the oversold signals from indicators could offer relief rally to $24000 or $28000.

During Mid May to June, the combined support of the $28500 and 0.618 Fibonacci stalled the ongoing bloodbath in the crypto market. However, the resulting consolidation eventually ended on bearish note as the BTC/USDT pair breached this: bottom support on June 11th.

This support fallout indicated continuation of prevailing downtrend and deprecated the BTC price by 29.3%. The downfall breached crucial psychological support as $26000, $24000 and now has recently tested the $20000 mark.

Today, the BTC price is up 3.36% but lack of volume rise indicates weakness in the bullish commitment. Thus, If the selling persists the coin price may pierce the $20000 support as well.