From Dogecoin, Shiba Inu Ready To ‘Go Crazy’ To GOP’s CBDC Legislation And A Trader Making $3.25M With Trump-Related MAGA Memecoin: This Week In Cryptocurrency
By Benzinga
The world of cryptocurrency had a bustling weekend, with Dogecoin’s social sentiment skyrocketing, a proposed bill threatening Central Bank Digital Currencies (CBDCs), a trader turning a modest sum into millions with MAGA Memecoin, and Dogecoin and Shiba Inu on the brink of a bull run. Here’s a rundown of the hot stories that caught our attention.
Dogecoin’s Social Dominance Soars – Dogecoin (CRYPTO: DOGE), the meme-based cryptocurrency, saw a significant spike in its social media presence. This increase, calculated as a 600% rise in its “social dominance score” by LunarCrush, coincided with the cryptocurrency’s price crossing the $0.10 mark. This surge in social sentiment was in line with the overall positive sentiment across the crypto landscape, as Bitcoin continued to soar. Read the full article here.
CBDCs in the Crosshairs – Republican senators have proposed a bill to ban digital currencies backed by central banks, also known as Central Bank Digital Currencies (CBDC) or stablecoins. This move could potentially hamper the Biden administration’s exploration of this technology. The senators argue that Fed-backed cryptocurrencies could infringe on privacy rights by providing regulatory authorities access to individual Americans’ spending habits. Read the full article here.
Millionaire MAGA Memecoin Trader – Pseudonymous Erik Stevens turned his $2,708 into a whopping $3.25 million with the Trump-inspired cryptocurrency, MAGA Memecoin (CRYPTO: TRUMP). Stevens announced his first-ever 1,000X trading success on his X account, achieved with a publicly disclosed wallet. Read the full article here.
DOGE and SHIB Poised for Bull Run – Crypto analyst, Altcoin Sherpa, predicts a bullish run for Dogecoin and Shiba Inu (CRYPTO: SHIB) after extended periods of price consolidation. However, the analyst warns against expecting all-time highs for these coins due to their current market caps. Read the full article here.
Shiba Inu’s Explosive Week – Shiba Inu gained 60% over the past week, with a significant use case update for one of its tokens, TREAT, and an increase in whale transactions. Lucie, the marketing lead of Shiba Inu, indicated that the upcoming token, TREAT, holds significant potential. Read the full article here.
Read Next: ‘Dogecoin Killer’ Shiba Inu Explodes For 60% Weekly Gain: This Indicator Shows Golden Cross
Photo by SvetlanaParnikova on Shutterstock
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