Cryptocurrency
Dogecoin, Shiba Inu Prices Fall as Holders Back New Meme Coin $MK
![](https://letizo.com/wp-content/uploads/2024/02/dogecoin-shiba-inu-prices-fall-as-holders-back-new-memecoin-mk_65bb8f309c02b.jpeg)
It’s been a red 24 hours in the meme coin market, with Dogecoin (DOGE) and Shiba Inu (SHIB) posting losses.
DOGE has fallen by just over 1%, while SHIB is down 2% as investor sentiment turns bearish.
However, not all meme coins are experiencing a downturn – the new gaming-focused token Meme Kombat (MK) is still being backed by traders ahead of its upcoming Uniswap listing.
DOGE & SHIB Trapped in Range as Meme Coin Momentum Fizzles
Dogecoin has posted two red daily closes in a row, taking the coin down to the $0.079 level.
DOGE has been trapped around this level for over a week, with buyers and sellers battling it out for supremacy.
The good news for DOGE holders is that the $0.079 level hasn’t been broken to the downside since November 24 – suggesting it’s acting as a floor for price.
However, on the other hand, the 50-day exponential moving average (EMA) is acting as a dynamic resistance level, meaning Dogecoin’s price action remains extremely choppy.
Shiba Inu is experiencing a similar scenario, with the token’s value rising 14% last week before dropping 7% from Tuesday’s high.
SHIB now looks to be falling towards the $0.0000087 level, which has been tapped three times since the start of 2024.
If SHIB breaks below this crucial support zone, it could lead to a further drop back to the $0.0000077 level.
With the meme coin market capitalization falling almost 3% in the past 24 hours, it remains to be seen whether DOGE and SHIB can break out of their current ranges.
XPayments Account Sparks Brief Price Surge for DOGE
Although things are currently looking bearish for the meme coin space, this is in stark contrast to the relatively bullish conditions last week.
This bullishness came from the surprise creation of the “XPayments” account on X (formerly known as Twitter).
Although this account hasn’t yet made a post, and Elon Musk hasn’t revealed what it is about, investors immediately began speculating that it could be related to potential crypto payments functionality.
There have long been rumors about X integrating DOGE as a payment option – so the creation of XPayments naturally led to heightened interest in the world’s largest meme coin.
DOGE soared over 3% on the day the account was created, then soared a further 6% in the days following.
However, this upward momentum couldn’t be sustained – with the coin returning to the red this week.
Meme Kombat Presale Bucks Downward Trend as Highly-Anticipated Launch Nears
Even though Dogecoin and Shiba Inu have struggled in recent days, not all meme coins have been experiencing a sell-off.
One low-cap meme coin still backed by traders is Meme Kombat (MK) – a gaming-focused project hosted on Ethereum.
Unlike DOGE and SHIB, Meme Kombat isn’t yet available on the open market, given that it’s still in its presale phase.
However, this presale phase is now in its final stage – meaning prospective investors have one final chance to buy MK before its Uniswap listing.
MK tokens are on offer for $0.279 during the final stage of the presale and can be purchased using ETH, USDT, or BNB.
Notably, those who purchase MK early can immediately stake their tokens and generate APYs of 119%.
Regarding tokenomics, 50% of the total MK supply has been set aside for presale investors, while 10% will be used to provide DEX liquidity.
A further 30% has been earmarked for staking and battling rewards – highlighting the development team’s focus on rewarding its community.
This approach suggests that Meme Kombat isn’t just another hype-driven meme coin but is instead trying to carve out a niche in the gaming and DeFi spaces.
Leading the project is experienced Web3 entrepreneur Matt Whiteman, who currently serves as COO of North Technologies, an NFT trading and analytics platform.
With Whiteman at the helm and continued interest in its presale, Meme Kombat looks well on its way to making a splash when it launches in the coming weeks.
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Cryptocurrency
Top 10 Solana (SOL) Ecosystem Projects by Development Activity
![](https://letizo.com/wp-content/uploads/2024/09/top-10-solana-sol-ecosystem-projects-by-developmentactivity_66dc47b18afea.jpeg)
TL;DR
- Due to recent growth, Solana and its projects have gained popularity.
- Ecosystem meme coins like Dogewifhat (WIF) and Bonk Inu (BONK) have seen significant declines after a substantial surge earlier this year.
The Unsurprising Leader
Solana and numerous projects built on it have brimming in popularity in 2024. Some factors that could have contributed to this might be SOL’s bull run at the end of 2023 and the beginning of 2024, the growing community, and innovations in the ecosystem.
The crypto analytics platform Santiment recently outlined the top 10 Solana-based projects in terms of development activity in the past 30 days.
Somewhat expected, the first spot belongs to Solana itself, which collected a score of 186.33. It is worth noting that the protocol’s native token – SOL – has been experiencing a downfall since the end of July, plunging by approximately 30% and currently trading at around $127 (per Coingecko’s data).
Wormhole holds the second position with a ratio of 90.5. It acts as a bridge connecting various blockchain networks, such as Solana, Ethereum, BNB Smart Chain, and others. It enables users to transfer digital assets and data across these blockchains without a centralized intermediary.
Pyth Network is third, with a score of 68. It operates as a decentralized oracle network where multiple providers contribute to a collective data feed.
JITO and Neon round up the top 5 list. The other Solana-based projects down the line include Drift, Orca, Helium IOT, Helium Mobile, and Metaplex.
The Missing Ones
It is interesting to note that meme coins, which are part of Solana’s ecosystem, did not make the list. Such tokens, including dogwifhat (WIF), Bonk Inu (BONK), and many more, were among the top-trending topics in the crypto space at the start of the year due to their skyrocketing prices.
However, their progress has stalled as of late. WIF – the biggest Solana-based meme coin in terms of market capitalization – currently trades at around $1.52, representing more than a 70% decline from the ATH registered in April.
BONK (the second-largest) is worth approximately $0.00001666 as of the moment, or 60% less than the peak in May.
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Cryptocurrency
These Altcoins Bleed Out as Bitcoin (BTC) Price Fell by $4K in Hours (Weekend Watch)
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Bitcoin’s nosedives continued in the past 24 hours as the asset slumped from an intraday high of $57,000 to under $53,000 within hours.
The altcoins are also in the red, and the total crypto market cap has dumped to $2 trillion for the first time in over a month.
BTC’s Troubles Keep Coming
The primary cryptocurrency lost the coveted $60,000 level last week, and the true downfall followed suit. Aside from a brief attempt to overcome that line on September 3, the bears have been predominantly in control, which culminated yesterday.
Before that, it was rejected a couple of times and marked lower daily highs. A relief rally came on Friday when the US released the job report for August, which showed that there was a slight decline in the unemployment rates.
BTC reacted quickly with a price increase from $55,500 to $57,000. However, that turned out to be a false breakout, and the cryptocurrency headed south immediately after. In a matter of minutes, it plummeted to $54,000 before the bears initiated another leg down that pushed it to a monthly low of $52,700 (on Bitstamp).
Despite recovering to just over $54,000 now, it is still 4% down on the day and more than 8% in the past seven days. Its market cap has plunged to $1.070 trillion, while its dominance over the alts is down to 53.5%.
Alts in Red Yet Again
The bearish scenario repeated once again, and the altcoins are back in red. Ethereum is among the leaders in this adverse trend, having lost over 4% of value. As a result, it now struggles at $2,250. BNB is down by 3%, XRP by 3%, and SOL by 2.5%.
DOGE has dumped the most from the larger-cap alts. The OG meme coin has seen 5% of its value evaporate over the past day and is below $0.1.
Further losses come from the likes of TON, BCH, SHIB, LTC, OKB, XMR, and many others.
The total crypto market cap has declined by another $50 billion and is down to $2 trillion on CG.
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Cryptocurrency
Vitalik Buterin Pledges L2 Tokens to Support Public Goods in the Ethereum Ecosystem
![](https://letizo.com/wp-content/uploads/2024/09/vitalik-buterin-pledges-l2-tokens-to-support-public-goods-inthe-ethereum-ecosystem_66dc47bce1201.jpeg)
Ethereum co-founder Vitalik Buterin has pledged to donate all Layer 2 (L2) tokens he holds to support public goods within the Ethereum ecosystem or broader charitable causes.
This announcement comes a few days after accusations that he had sold millions in Ether (ETH) for personal gain.
Vitalik Buterin Denies Profit Motive
Buterin was quick to respond to the allegations, emphasizing that he has not sold any ETH for personal profit since 2018. Instead, he clarified that any proceeds from his ETH sales have been directed toward projects that contribute to the Ethereum ecosystem or other charitable initiatives.
In a September 5 update, he expanded on his stance, pledging to donate all L2 tokens he holds, including not-yet-liquid assets, to support similar causes.
He wrote, “All proceeds will be donated, again either to support public goods within the Ethereum ecosystem or broader charity (e.g., biomedical R&D). I also do not intend to invest into L2s or other token projects in the foreseeable future.”
He explained that his aim in funding projects is to support initiatives he believes are important, particularly in situations where other parts of the ecosystem may not fully recognize their value.
The Allegations
On August 30, an X user accused him of selling over $2 million worth of ETH shortly after posting a positive update about Ethereum’s future.
Later on, Lookonchain also revealed that Vitalik had transferred 800 ETH, worth around $2 million, to a multi-signature wallet. Shortly after, the wallet swapped 190 ETH for 477,000 USDC.
Further analysis from Lookonchain indicated that on August 9, he had moved an additional 3,000 ETH, valued at over $8 million, to the same multi-sig wallet.
These transfers fueled speculation that the Ethereum co-founder was liquidating his Ether holdings to realize profits.
Buterin had previously disclosed that his entire Ether holdings came from the Ethereum pre-mining period, which allocated 11.9 million ETH (about 10% of the total supply) to early contributors. As one of them, he received 700,000 ETH for his role in the network’s creation.
According to blockchain tracker Arkham Intelligence, his current holdings amount to approximately 240,000 ETH. This is a reduction of around 460,000 ETH from his initial stash.
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