• Elon Musk recently tweeted about Dogecoin and Shiba Inu, causing a 6.6% and 2.5% spike in their respective prices.
• According to a Blockchain Research Lab study, there was an average price range of 3% for each of the 47 events after a tweet by Musk.
• A Community Notes Twitter account post may have triggered the tweet from Musk as it detailed its new feature which gives users extra context they might otherwise miss.
Elon Musk’s Influence on Dogecoin
Twitter CEO Elon Musk has been associated with several price surges of Dogecoin (Doge) after his tweets stirred speculations among investors. Recently, he tweeted again, resulting in an increase in the meme coin's value over the past 24 hours.
In what appears to be a joke statement, Musk Tweeted: "High time I confessed I let the Doge out." Attached to this post was an image that read "It was me, I let the dogs out." He then followed up this post with another tweet saying "Fact check me @CommunityNotes."
The interesting twist about this is that Shiba Inu also surged slightly since Musk mentioned “dogs” in plural. Following his tweet, Dogecoin registered a 6.6 percent sharp increment while Shiba Inu rose by 2.5 percent within 24 hours.
Research Study on Effect of Elon’s Movements on Crypto
Blockchain Research Lab conducted a study on the effect of Elon's moves on cryptos which revealed that he has an intriguing command over investors. The study observed that whenever there is an immediate and large spike in price, there is another 45-minute price spike that follows after one of his tweets as seen in its 24-hour price data between $0.0832 and $0.0872 before recording its first retracement as shown in its charting analysis.
Post from Community Notes Account
Prior to Musk's tweet was a post from the Community Notes Twitter account detailing its new feature that provides users additional context they might otherwise miss when replying to or retweeting certain posts or likes them
Unification Project to Access Billion-Dollar Market
• Unification is launching a Liquid Staking Derivative (LSD) on the Ethereum blockchain network that will allow users to earn ETH staking rewards and liquidity pool yield.
• The Shiba Inu community can participate by purchasing FUND tokens through several exchanges, including Uniswap, Ploniex, BitForex and MEXC Global.
• The launch of Shibarium has been delayed due to the development work on its Oracle of Oracles (OoO).
Unifying the Shiba Inu Ecosystem with Utility
The operator of the FUND validator for Unification recently shared plans of how their blockchain tool provider could create a liquid staking derivative (LSD) for FUND on the Ethereum blockchain network. Samuel McCulloch, the operator of the BigBossCapital validator, authored the entire proposal. This would involve employing FRAX's dual token model which would require creating two tokens along with a Curve liquidity pool. Pegged to FUND, one token called aFUND will be used to earn rewards in return for providing liquidity on a proposed aFUND/FUND pool while sFUND will be received when depositing aFUND in the staking vault and accruing staking rewards.
Voting Power Secured by Fund
The fund has already secured 33% of DAO voting power with an overwhelming 98.8% voting YES in favor as of February 17th. This level of support indicates strong enthusiasm from investors towards this project and its potential utility for Shiba Inu ecosystem participants.
Participation from Shiba Community
The Shiba Inu community can participate by purchasing FUND tokens either from Uniswap, Ploniex, BitForex or MEXC Global although it is not currently available on ShibaSwap yet which is set for launch soon on version 2 running on Shiba's Layer-2 scalability platform Shibarium. The platform was originally scheduled to launch earlier this month but was delayed due to development work being done on its Oracle of Oracles (OoO).
Can SHIB Hit $0.01?
With so much utility being added to the SHIB ecosystem through this project and its promise to access billion-dollar markets, it remains uncertain whether SHIB prices can reach $0.01 or higher even after taking into account any possible price fluctuations in ETH or other crypto assets making up part of this project’s offering. Only time will tell if these efforts pay off or not!
• The Bugatti Group and Shiba Inu have collaborated to launch the Bugatti Genesis NFT Collection.
• Holders of the SHIBOSHI NFT will gain access to physical items, including exclusive rewards like limited edition cross-body bags and carry-on items.
• The launch of the physical items for its NFT holders is a unique boost for Shiba Inu, helping them to bolster their influence in the ecosystem.
Shiba Inu and Bugatti Launch Portal to Claim Physical Items
The Bugatti Group, a renowned luxury brand based in Montreal Canada has announced access to physical items for holders of its Genesis Non-Fungible Tokens (NFTs) launched in collaboration with Shiba Inu. This move is aimed at bolsters Shiba Inu’s influence.
Bugatti Genesis NFT Collection
The mint of the NFTs born as a result of the collaboration between Bugatti and Shiba Inu will entitle 95% of the holders to limited edition cross-body bags, while 5% would earn a claim to carry-on items sporting their unique SHIBOSHI design. The collection consists of 1828 items resident on the Ethereum blockchain.
Launch Into NFT Space
The pivot into the NFT world marks an attempt by Bugatti to join other competitors in this field such as Nike, Adidas, Lacoste and Salvatore Ferragamo who have all launched their own collections.
Unique Boost For Shiba Inu
Being associated with the Bugatti Genesis NFT Collection, launch of physical itemsto match with it provides a unique boost for Shiba Inu. It helps users validate quality of Tokenand strengthens their presence in crypto ecosystem.
< p >The collaboration between two companies provides a great opportunityfor SHIB holders to gain access to exclusive rewards like limited edition cross-bodybags and carry-on items which boosts popularity & presenceof both entitiesin crypto space. p >
• Djed, the Cardano-based overcollateralized stablecoin, is seeing immense success since its release to the market.
• In only two days since launch, Djed has minted 1.85 million coins and burned 40,000 coins.
• Both Djed and SHEN are now listed on major Cardano DEXs like Minswap, Wingriders, and MuesliSwap as well as centralized exchanges such as Bitrue.
Djed Launch Successful
Cardano's overcollateralized stablecoin Djed's is making waves only two days after it's launch. The launch was a success with 27 million Cardano (ADA) tokens backed up by 800% reserve ratio and 21M SHEN (Djed's Reserve Coin) minted while 73K SHEN was burnt.
Mints & Burns
A total of 1.85 million Djeds have been mints and 40,000 of them have been burned thus far in the billion dollar market. This highlights the immense success of the coin after just two days of launching in the market.
Both Djed and SHEN are receiving wide coverage across many media publications, since their launch. Listings on many platforms have additionally reached a sizable number including major Cardano DEXs like Minswap, Wingriders, and MuesliSwap as well as centralized exchanges such as Bitrue. CoinMarketCap also listed both assets while initiatives such as CoinGecko and DefiLlama have unrolled Djed and SHEN to millions of users on their sites.
Trading Volume Increasing
The trading volume for both Djed/ADA and SHEN/ADA pairs is increasing on these platforms which will help to increase mainstream adoption of both assets further leading to more accessibility globally for crypto users using these tokens.
COTI also revealed upcoming upgrades for both DJED and SHEN which will further promote mass adoption for these tokens worldwide through an increased reach of potential investors from different parts of the world looking to invest in these lucrative assets provided by COTI through Cardano IOG alliance..