Buterin’s Burn of Shiba Inu, Musk’s Dogecoin Tryst and Presale Success of Big Eyes Coin
Crypto celebrities have a lot of control over the daily price movements of tokens, as Dogecoin and Shiba Inu can attest. What does the involvement of influencers mean for crypto projects like Big Eyes Coin?
A report on the largest crypto transactions has shed light on Vitalik Buterin and his involvement in the Shiba Inu network. In 2021, Ethereum co-creator and crypto celebrity Vitalik Buterin burned 90% of his Shiba Inu collection. Buterin’s net worth is estimated at around 7 billion dollars. Shiba Inu prices rose by 40% after Buterin’s statement about his burning was published. Burning is sending crypto to an inaccessible crypto address. The action would take the number of coins sent out of circulation. So the next time you hear someone burn some of the coins you own, it means that the value of that coin has just gone up a bit
Moving on to another crypto celebrity, Ben Armstrong, aka Bitboy Crypto, has been embroiled in a $1 billion class action lawsuit. The YouTuber, recently known 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 Shiba Inu tattoo if he is even named in the suit when it goes to trial. 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 busy couple of days for SHIB.
Shiba Inu: Burns up
Shiba Inu prices have climbed 5% as the network burned close to 12 million tokens last week. An increase in Shibarium puppy transactions is another factor driving up SHIB prices.
The Shiba Inu network is growing in use and adding many decentralized applications (DApps) and decentralized finance (DeFi) projects to the ecosystem. The network expects more growth as the utility of the Shibarium Layer 2 blockchain grows. Shiba Inu ranks 13th in total market capitalization and trades at $0.000011. Whale actions go up for the coin, and the general sentiment in the network holds. It looks like good times are around the corner for the Shiba community.
Elon Musk Asks for Dismissal of Dogecoin Lawsuit
The biggest crypto celebrity and future Mars overlord Elon Musk has sought dismissal of a lawsuit against him by Dogecoin investors. Musk’s tweets about Dogecoin 2022 created a spike in Dogecoin value.
When Musk was accused of fraud by inflating the price of Dogecoin by tweeting about the token, his lawyers denied the claims. Dogecoin prices reflected Musk’s statements and have fallen by 6.45% in the last 24 hours. Dogecoin is in 8th place in total market value. The token’s prices rose by more than 9% last week, reflecting positive sentiment in the crypto market.
The price movements suggest the influence of crypto celebrities on a token’s performance. Despite Musk’s comments, Dogecoin is investing heavily in its ecosystems and the number of DApps on the network is growing.
Big Eyes Coin: It Takes a Cat to Beat the Doges
The cat-themed Big Eyes coin is the newest entrant in the meme coin space. The cute token has promised to take on the likes of Dogecoin and Shiba Inu. The Big Eyes coin has been tearing it up in the presale, raising a whopping $32.5 million. The coin will launch on exchanges once it reaches its pre-sale target of $50 million and is a fantastic opportunity for investors looking for crypto with a bright future.
Big Eyes is built around the community and the token has plans to build associations with influencers to further expand the community. The latest update from the cat gang is the launch of NFT cards for the community. The NFT collection allows members of the Big Eyes community to create their own NFTs and monetize them at the time of the token’s launch.
The back end
Crypto celebrities have a lot of control in a crypto market that pore over every tweet and statement from these movers and shakers of the crypto community. Upward price movements of Dogecoin and Shiba Inu can confirm the effect that celebrities and influencers have on the (crypto) world. The meme coins are doubling down on their project plans and have excellent long-term prospects as ecosystem adoption grows.
Big Eyes Coin is a project that wants to free the established players in the meme coin space. The token has great plans to build a comprehensive ecosystem complete with an NFT marketplace, DeFi projects and DApps. The incredible run of the Big Eyes presale indicates the coin’s potential.
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