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Dogecoin Rival Shiba Inu Spikes in Value While DOGE Prices Flounder, SHIB Jumps 21% in 24 Hours

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While the dogecoin’s token price has floundered during the last seven days, the meme-coin’s rival shiba inu (SHIB) has moved up the ranks in terms of weekly gains. Dogecoin has shed 5.8% during the last week, but shiba inu has spiked 21.3% during the course of the week and 21.1% in the last 24 hours.

Shiba Inu Gains 21% in 24 Hours


Two days ago, Bitcoin.com News covered the DOGE market action concerning dogecoin’s four-legged fall in recent times. Weekly stats show dogecoin (DOGE) is still down 5.8% during the last seven days but it is still the largest meme-based crypto asset in terms of market capitalization. The second leader in that category is shiba inu (SHIB), an ERC20 token that’s been moving northbound in terms of price in recent times. SHIB is currently swapping for $0.00000824 per unit but has lost 8% during the last 30 days.

Dogecoin Rival Shiba Inu Spikes in Value While DOGE Prices Flounder, SHIB Jumps 21% in 24 Hours
SHIB has been trading for $0.00000720 to $0.00000824 per unit on September 16, 2021.

Today there’s 657,335 SHIB holders according to Etherscan data and 3,540,457 lifetime SHIB transfers. As the second largest meme-currency besides DOGE, SHIB has a $3.6 billion market capitalization. In comparison to dogecoin’s market valuation the coin represents more than 11% of dogecoin’s overall market cap. Sending SHIB can be costly as the cost to move ethereum (ETH) right now is $5.66 per transaction according to l2fees.info. Sending a token transfer can cost $12.93 per transfer using the Ethereum chain.

Dogecoin Fees Are Cheaper, Tether Is SHIB’s Top Trading Pair on Centralized Exchanges


Meanwhile, the cost to send DOGE according to bitinfocharts.com stats, is around 2.38 DOGE ($0.573) or 0.0045 DOGE per byte. That’s still 887.78% cheaper to send in contrast to sending the ERC20 SHIB unless the SHIB users are leveraging L2 platforms like Arbitrum One, Loopring, Optimism, and Zksync. The SHIB-focused decentralized exchange (dex) platform Shibaswap currently has $246 million total-value locked on the platform. SHIB sister tokens like LEASH ($792), and BONE ($1.05) are leveraged on the platform for liquidity pools and incentives.

Metrics show that SHIB has had around $316 million in global trade volume during the last 24 hours. While SHIB has a wide range of pairs on dex platforms like Uniswap, Sushiswap, and Shibaswap, on centralized exchanges tether (USDT) commands 79% of all trades according to a cryptocompare.com analysis. This is followed by BUSD (9.77%), TRY (6.03%), WETH (1.82%), EUR (1.74%), and USD (0.77%). The top SHIB exchange is Binance with a share of 61.14% of the ERC20 token’s trades. This is followed by Huobipro, Okex, Bitmart, and Gateio respectively.

What do you think about the dogecoin rival SHIB moving up the ladder in terms of weekly gains? Let us know what you think about this subject in the comments section below.

Elon Musk’s New Puppy Tweet Sends Shiba Floki Token Soaring, FLOKI Jumps More Than 900% in 24 Hours

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Elon Musk's New Puppy Tweet Sends Shiba Floki Token Soaring, FLOKI Jumps More Than 900% in 24 Hours

The CEO of Tesla, Elon Musk shared a picture of a Shiba Inu pup and said “Floki has arrived” to his 59.8 million Twitter followers. Of course, the tweet affected the price of a few specific meme-based crypto assets that leverage the “Floki” name.

Shiba Floki Token Soars After Elon Tweets an Image of His New Pup


Elon Musk has been a fan of dogecoin (DOGE) for a while now and on a few occasions, the CEO of the electric car manufacturer Tesla has tweeted a reference to other meme-based canine coins in the past. Musk referenced “baby doge” in a tweet and in a video shared on Twitter, Musk said “daddy doge,” while being escorted to his car. At that time, there were more than 30 doge-like coins that either shared the name “doge” or the type of dog “Shiba Inu.”

On Sunday, September 12, Elon Musk tweeted about a new puppy arrival and happily tweeted “Floki has arrived.” Now of course, just like his baby doge coin sing-along shared on Twitter in July and the daddy doge video mention, the tweet is meaningless in terms of crypto assets. However, despite the harmless sharing of a cute Shiba Inu pup photo, Musk’s tweet once again has affected the price of at least two specific crypto assets.

For instance, during the last 24 hours alone, the token shiba floki (FLOKI) jumped a whopping 969.5% in value. The token FLOKI is swapping for $0.000000006177 per unit at the time of writing. FLOKI is considered a “community-owned” meme currency and the website says the token is “hyper deflationary.” The coin’s data shows there’s been a quadrillion FLOKI tokens minted and the tokens have been transferred across 18,847 addresses.

Another token with a very similar name, floki inu (FLOKI), has jumped 83.9% during the last 24 hours and now trades for $0.00003431 per unit. Statistics indicate that there are 10 trillion coins minted.

Both currencies stem from the same project and also share the same website, but the shiba floki (FLOKI) coin is a Binance Smart Chain (BSC) token and floki inu (FLOKI) is an Ethereum-based ERC20 token.

Today, the ERC20 FLOKI coin has a market valuation of $343,100,000 at current prices. The Binance Smart Chain version of FLOKI has a market cap of around $6.1 million using current exchange rates.

What do you think about the rise of the FLOKI tokens after Elon Musk’s tweet on Sunday? Let us know what you think about this subject in the comments section below.

Countdown to Cardano’s Hard Fork: Goguen Phase Smart Contracts ‘Represent a Big Step Forward’

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The digital currency network Cardano is two days away from the upcoming hard fork on September 12 and the community is expecting to see functional smart contracts. These can be used for decentralized finance (defi), non-fungible tokens (NFTs), and other types of decentralized applications (dapps). Cardano has managed to capture the third-largest crypto market capitalization among 10,000+ crypto assets but over the last seven days, cardano has lost more than 16% in value.

Cardano Expects to Upgrade in 2 Days


With more than $400 billion under the hood, the ethereum (ETH) market is by far the largest smart contract platform today in terms of fiat valuation. Ethereum has held this position for a few years now, but a number of other smart contract crypto asset networks have been moving toward ETH’s position. Besides ETH, today’s top smart contract markets by market valuation include cardano (ADA), solana (SOL), polkadot (DOT), terra (LUNA), avalanche (AVAX), and more.

Ethereum’s fees and its difficulty scaling have led to funds moving to other smart contract competitors with lower fees and faster transaction times. Cardano has promised to be an Ethereum competitor and the next upgrade is expected to give developers functional smart contract capabilities. The upgrade on September 12 is called “Alonzo” and smart contract capabilities were there for previous Alonzo phases, but only for technical participants.

Goguen Phase Will See the ‘Integration of Smart Contracts,’ Goguen Adds the ‘Ability to Build Decentralized Applications’


If all goes well then the community hopes the network can be expanded to leverage defi, NFTs, tokenization, and other types of dapps. Alonzo is part of Cardano’s roadmap which involves five different eras including Byron, Shelley, Goguen, Basho, and Voltaire.

At the moment, the Cardano network is in the Goguen era. The developers have been working on Goguen in parallel with Shelley and after Goguen completes, both technical-savvy and non-technical individuals will be able to produce Cardano smart contracts.

“With the integration of smart contracts, the Goguen era represents a big step forwards in capability for the Cardano network,” the Cardano team details on its website. “Where the Shelley era decentralizes the core of the system, Goguen adds the ability to build decentralized applications (dapps) on Cardano’s solid foundation of peer-reviewed research and high-assurance development.”

This week Outlier Ventures published a report on blockchain development in the second half of 2020 and the first half of 2021, and the Cardano project is one of the top projects in terms of development. In terms of active developers, Ethereum has 168 while Cardano has 165, according to Outlier’s report posted by Robin Andre Nordnes. While cardano (ADA) has lost more than 16% during the last seven days, year-to-date statistics show ADA has risen more than 2,555%.

What do you think about the upcoming Cardano network upgrade? Let us know what you think about this subject in the comments section below.

Vitalik Buterin Has Suggestions for Dogecoin and Doge’s Cooperation With Ethereum

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Vitalik Buterin Has Suggestions for Dogecoin and Doge's Cooperation With Ethereum

Ethereum co-founder Vitalik Buterin has some suggestions of what he personally would like to see happening with Dogecoin and the meme cryptocurrency’s cooperation with Ethereum.

Vitalik Buterin on Dogecoin’s Development and Its Ethereum Collaboration

Ethereum co-founder Vitalik Buterin shared his thoughts on the potential cooperation between Dogecoin and Ethereum Wednesday as part of a Twitter experiment he is conducting where only the 268 people he followed can ask him questions.

Three Arrows Capital CEO Zhu Su asked: “What are some promising ideas for Ethereum / Doge cooperation? What was it about Doge that got you interested in the project?” Su recently said that he is “very bullish” on dogecoin and that the meme cryptocurrency has “no risk of it having any regulatory issues ever.”

Referencing Proof-of-Stake (PoS) and Proof-of-Work (PoW), Buterin replied to Su:

Personally, I hope that doge can switch to PoS soon, perhaps using Ethereum code. I also hope they don’t cancel the 5b/year annual PoW issuance, instead they put it in some kind of DAO that funds global public goods. Would fit well with dogecoin’s non-greedy wholesome ethos.

In June, Buterin also talked about potential cooperation between Ethereum and Dogecoin. “If Doge wants to somehow bridge to Ethereum, and then people can trade DOGE thousands of times a second inside of loopring, then that would be amazing,” the Ethereum co-founder opined. “I think if we can have a secure Doge-to-Ethereum bridge. That would be amazing, and then when Ethereum gets any scalability that works for Ethereum assets, you would be able to trade wrapped DOGE with very low transaction fees and very high speed as well,” he further said.

In August, the Dogecoin Foundation relaunched with Buterin as one of its board advisors, along with Jared Birchall, a close associate of Tesla CEO Elon Musk, another prominent dogecoin supporter.

Among numerous questions Buterin received as part of his Twitter experiment was whether he was likely to create another cryptocurrency. The Ethereum co-founder simply responded with “No.”

What do you think about Vitalik Buterin’s suggestions for Dogecoin? Let us know in the comments section below.

More Zimbabwean Artists Pivot to NFTs as Bubble Concerns Grow

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A Zimbabwean artist, Greatjoy Ndlovu, joined the growing list of African artists pivoting to the non-fungible tokens (NFT) market after his digital artwork was sold for 0.7 ethereum. The sale, which took place on the Async Art NFT marketplace, is Ndlovu’s first foray into the digital art space.

NFTs an Opportunity for African Artists

According to a report, Ndlovu’s digital art piece, which is called Burnt Out, depicts the challenges that were experienced by health care workers who were fighting to stop the spread of the Covid-19 pandemic.

In addition, the report says Ndlovu is hopeful that his break into the NFT space will help “inspire many young creators to take a leap and test the market themselves.” According to the artist — who also serves as the Ambassador of SOS Children’s Village — NFTs represent an “alarmingly bright future” for African art makers.

Artists Embrace NFTs

Meanwhile, with this pivot to NFTs, Ndlovu joins Nyasha Warambwa and Indigo Saint, the first artists from Zimbabwe to embrace NFTs. Warambwa, who also goes by the name “Hulio,” reportedly revealed via social media that his two NFTs had been sold for 1.55 ETH (or over $5,700 at current prices).

Indigo Saint, on the other hand, is believed to have sold his NFT inside the first four hours of listing. The works were sold “at a price of 50 SOUL coin which was valued at US$29 on the day.”

However, despite the three artists’ positive remarks about NFTs, some Zimbabweans on social media are raising concerns about a bubble. For instance, one Zimbabwean social media user known as Link Marine remarked: “[An] NFT crash is imminent…only a few months or even weeks.”

Do you see NFTs as a bubble? You can share your views in the comments section below.