Meme coins, a type of cryptocurrency inspired by internet memes, have gained significant popularity in recent years. While many traditional cryptocurrencies, like Bitcoin and Ethereum, are valued based on their underlying technology and use cases, meme coins often have no real-world utility and their value is primarily driven by community sentiment and social media buzz. Despite this, meme coins have attracted a loyal following of investors who are drawn to their fun and irreverent nature, as well as the potential for significant profits in a short period of time. Shiba Inu (SHIB) and Dogecoin (DOGE) have been the most popular meme coins. However, the new meme coin Dogetti (DETI) is on the steady path to challenge its predecessors.
Shiba Inu’s Shibarium Puppynet Shows Promising Activity
Shibarium’s Puppynet, a native test network, has shown promising activity as the company plans to release it on the main network later this year. Puppynet is said to have processed over 700,000 transactions from nearly 200,000 unique wallets since its launch. The upcoming features promise to further boost the value of SHIB and BONE, two tokens in the Shibarium ecosystem.
SynFutures CEO Rachel Lin said that while the financial impact of Shibarium’s upgrade may be seen as underwhelming, the fact that Puppynet reached 200,000 wallets in just over a week is remarkable. Additionally, Unification, the firm behind Shibarium, announced it is developing an all-in-one wallet solution that will enable two-way asset transfers, staking/delegating, and include a ShibaSwap integration module.
These developments suggest that the value of SHIB and BONE may witness a near-term price spike, but given the current macroeconomic climate, any such movements will likely be short-lived. Currently $SHIB is priced at $0.00001082 with a market cap of $6.38 billion at the time of writing.
Elon Musk Faces Lawsuit For Promoting Dogecoin
Tesla CEO Elon Musk has requested a US judge to dismiss a lawsuit worth $258 billion that accused him of operating a pyramid scheme to promote Dogecoin, the cryptocurrency that has been on a downward trend, with the current price standing at $0.078. On March 31, Musk’s lawyers filed a motion stating that the lawsuit against him, which was filed by Dogecoin investors in June 2022, is a “fanciful work of fiction” in Manhattan’s federal court, according to a Reuters report published on April 1st.
Musk’s lawyers argued that his support for Dogecoin on social media, which includes phrases like “Dogecoin Rulz” and “no highs, no lows, only Doge,” is too ambiguous to constitute a fraud claim. The lawyers claimed that expressing support for a legitimate cryptocurrency, which maintains a market cap of almost $10 billion, through tweets or humorous images is not a criminal offence.
Musk’s legal counsel argued that his comments regarding Dogecoin were harmless and often lighthearted tweets. They hoped to convince the judge to dismiss the multi-billion dollar lawsuit filed against him. The lawsuit alleges that Musk boosted Dogecoin’s value by more than 36,000% in two years, only to let it crash. The original lawsuit alleges that he exploited his position as the world’s wealthiest person to manipulate the Dogecoin Pyramid Scheme.
If the lawsuit is not dismissed, the case could go to trial, leading to financial penalties for Musk. However, it is not clear whether or not the judge will dismiss the case.
Dogetti Offers Bonus In Presale
Dogetti (DETI), a relatively new cryptocurrency token featuring a dog and mafia theme, has achieved significant success in its presale market. The DETI token is designed to build a strong community where wealth can be passed down to family members who are part of the Dogetti community.
Despite only being launched in early 2023, Dogetti has made a significant impact on its target audience. During the second phase of DETI’s pre-sale campaign, the sale of 7.59 billion DETI tokens raised $627,052, taking the cryptocurrency industry by surprise. In addition, Dogetti has launched the latest DON50 token, which provides investors with a guaranteed 50% additional DETI for every purchase made using the code ‘DON50’.
Investors and traders in meme coins are attracted to Dogetti because of its unique features, such as the Dogetti DAO, NFT collecting, NFT breeding mechanism, and other upcoming innovations. These features are designed to make Dogetti a popular choice among crypto enthusiasts.
According to reports, Dogetti has the potential to emerge as a significant player in the cryptocurrency market. Its strong community focus and innovative features make it a promising investment opportunity for those who are interested in the cryptocurrency space.
Overall, Dogetti is a unique and promising cryptocurrency that has captured the attention of the industry. As the cryptocurrency market continues to evolve, it will be fascinating to see how Dogetti fits into the larger picture and whether it will emerge as a significant player in the space.
For more information about Dogetti (DETI):
Presale: https://dogetti.io/how-to-buy
Website: https://dogetti.io/
Telegram: https://t.me/Dogetti
Twitter: https://twitter.com/_Dogetti_