GetBlock
Published in

GetBlock

Inu Jumps On the Metaverse Bandwagon, Bitcoin Bear Market Might Be In, Elon Musk Pumps DOGE Again

SHIB leads the crypto recovery after the bloodiest carnage in months on metaverse announcement

Shina Inu Coin (SHIB), the second-largest memetic coin, adds 35% in almost no time on this announcement.

The developers of Shiba Inu Coin have taken to Twitter to share an announcement about the metaverse-centric ambitions of his brainchild:

As promised, we are so excited to announce our first special surprise for the year #ShibArmy!

In 2022, we are reaching new heights and welcoming the #Shiberse 🌎. An immersive experience for our ecosystem and the Metaverse space!

We can’t wait to show you more. Woof! 🐶 pic.twitter.com/tCRQ1m1RiT

- Shib (@Shibtoken) January 24, 2022

As per the announcement, in 2022, Shiberse, the first metaverse project for the Shiba Inu community, is set to go live. With Shiberse, all SHIB holders will enjoy a cutting-edge ‘immersive experience for [Shiba Inu Coin] ecosystem and the Metaverse space’.

The exact details of the Shiberse design remain unknown. As per the statements in Shiba’s Discord, Shiberse might include DEX, games, and tokens.

SHIB price immediately reacted to the announcement. Despite a dramatic drop-down of the altcoins market, SHIB spiked from its multi-month low at $0,000017 to $0,000023.

Bitcoin might be already in a bear market: Glassnode analysts

Researchers of Glassnode, a leading on-chain analytical firm, unveiled that according to their estimations, the bear market for Bitcoin (BTC), a flagship cryptocurrency, has already started.

#Bitcoin bulls have been put firmly on the back-foot, with prices cut in half since the Nov ATH.

In our latest analysis we seek to define whether #Bitcoin has entered a prolonged bear, using investor psychology, behaviour, and network profitability. https://t.co/4N1FKeHZHM

- glassnode (@glassnode) January 24, 2022

This scary prediction is confirmed by data from multiple indicators. First, the ongoing correction stopped at 50%, while typical corrections for bullish markets don’t exceed 35–45%.

Then, Net Unrealized Profit/Loss Ratio reached -2,5 billion USD. It means that a dramatically big number of investors sold their Bitcoin (BTC) bags at a loss. Short-term holders constitute the vast majority of panic-sellers.

Almost every Bitcoin (BTC) held by ‘paper hands’ (18,3% of its net liquid supply!) is held at a loss on their prices.

Previously, UBS analysts predicted an ‘apocalyptic’ crypto winter.

DOGE rockets on Elon Musk’s Happy Meal announcement

Tesla Techno King Elon Musk never misses an opportunity to pump his favorite memetic token, Dogecoin (DOGE). Once McDonald’s mocked crypto traders by jokingly inviting them to join its team of waiters and cooks, Mr. Musk came up with an unusual offer.

I will eat a happy meal on tv if @McDonalds accepts Dogecoin

- Elon Musk (@elonmusk) January 25, 2022

He promised to eat Happy Meal on TV if McDonald’s starts accepting Dogecoins (DOGE) in their restaurants.

Following this joke, DOGE price added 12% in 15 minutes which is an impressive result amidst market depression.

Originally published at https://getblock.io.

--

--

--

GetBlock provides developers with an instant API connection to 40+ blockchain nodes. Our mission is to ensure cost-effective tools and infrastructure that help enterprises and individual developers to build high-quality blockchain applications faster

Recommended from Medium

How to stake MATIC (Polygon) using TokenPocket mobile wallet

Wanaka Farm — IDO on Poolz: Instructions

Dragon Evolution Welcomes Maven Capital as Its Newest Investor

Provide Storage Solutions on HotFil and Get Paid in Cryptos

LCX is a new kind of global financial technology company

Opportunity: Ethereum

Cudos newsletter issue 008 📰

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
GetBlock

GetBlock

GetBlock is a service that provides fast and easy API connection to blockchain nodes of 40+ cryptocurrencies.

More from Medium

Crypto Turns Red

How to Get Crypto.com Ruby Steel Visa Card?

Can Cryptocurrencies Be Regulated? —  VAULT Cryptocurrency Blockchain News #39

Can Dogecoin (DOGE) reach $1 this year?