The cryptocurrency world had an eventful weekend, with Dogecoin social sentiment skyrocketing, a bill threatening Central Bank Digital Currencies (CBDC), a trader turning a modest sum into millions with MAGA Memecoin, and Dogecoin and Shiba Inu on verge of bull run. Here is a roundup of the most interesting stories that caught our attention.
Dogecoin’s social dominance soars – Dogemoneta DOGE/USD, the meme-based cryptocurrency, has seen a significant spike in its social media presence. This increase, calculated by LunarCrush as a 600% increase in its “social dominance score,” coincided with the cryptocurrency’s price crossing the $0.10 mark. This surge in social sentiment was in line with the overall positive sentiment in the cryptocurrency landscape as Bitcoin continued to rise. Read the full article here.
CBDC in the crosshairs – Republican senators have proposed a bill to ban central bank-backed digital currencies, also known as Central Bank Digital Currencies (CBDCs) or stablecoins. This move could potentially hinder the Biden administration’s exploration of this technology. The senators argue that Fed-backed cryptocurrencies could violate privacy rights by giving regulators access to the spending habits of individual Americans. Read the full article here.
See also: Bitcoin, Ethereum, Dogecoin Soar, Triggering $750 Million Liquidations: Analyst Predicts King Crypto to Reach
Millionaire MAGA memecoin trader – Pseudonymous Erik Stevens turned his $2,708 into a whopping $3.25 million with Trump-inspired cryptocurrency, Memecoin ITSELF TRUMP/USD. Stevens announced his first trading success of 1,000X on his X account, achieved with a portfolio made public. Read the full article here.
DOGE and SHIB ready for the running of the bulls – Altcoin crypto analyst Sherpa predicts a bull run for Dogecoin and Shiba Inu SHIB/USD after long periods of price consolidation. However, the analyst cautions 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 has gained 60% over the past week, with a significant use case upgrade for one of its tokens, TREAT, and an increase in whale transactions. Lucie, marketing manager at Shiba Inu, indicated that the next token, TREAT, has significant potential. Read the full article here.
Read Next: Shiba Inu “Dogecoin Killer” Explodes With 60% Weekly Gain: This Indicator Shows A Golden Cross
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