Cryptocurrency price LIVE – Shiba Inu and Bitcoin value revealed as Coval Circuits of Value token launches on CoinBase

December 11, 2021 Editor Coinbase 0

THE price of Bitcoin, the biggest cryptocurrency on the market, is now trading at $49,199.47 after hitting a record high of more than $69,000 in November.

Meanwhile, Shiba Inu is up a little over 1 percent in the past 24 hours, according to Coinbase.

Plus, in a House Committee on Financial Services hearing focused on cryptocurrencies, Democratic representative Brad Sherman of California said that “the number one threat to cryptocurrency is crypto.”

He continued by saying that “Bitcoin could be displaced by Ether, which could be displaced by Doge, which could be displaced by Hamster Coin,” before adding, “And then there’s Cobra Coin. What could Mongoose Coin do to [Cobra Coin]?”

Since then, several Mongoose Coins have gone live, Decrypt reported.

Cryptocurrencies are highly volatile, meaning their values often make large swings with no notice, as the latest plunge shows.

Read our cryptocurrency live blog for the very latest news and updates…

  • The major meme coins

    The surge of the meme coins this year all started with Dogecoin.

    That was then followed by Shiba Inu, which both feature the same dog breed in their logos.

    The image became a popular internet meme called doge, and it features the dog surrounded by text in the comic sans font with words like “much wow.”

    Both Shiba and Dogecoin have been popular dog meme coins this year.

  • What are meme coins?

    A meme coin typically gains off a social media or an internet-based joke.

    It all started with GameStop and AMC earlier this year, when a Reddit mob trolled short-sellers by driving up the prices of those stocks.

    The memes then spread over to cryptocurrencies – and there are now a few major ones today.

  • Dogezilla: The next meme coin

    A newly-launched cryptocurrency, DogeZilla has exploded out of the gate.

    Within its first eight days of existence, DogeZilla was said to have grown into a super microcap of $500million from just $50,000. 

    Billionaire Elon Musk has also already gotten involved with DogeZilla by posting a tweet.

    Replying to a tweet about an underwater mud volcano, he wrote: “Cover story for Godzilla obv.”

  • What is Dogezilla?

    Founded by someone with the alias of 9ZEROES, DogeZilla models itself as a community-based project. 

    DogeZilla claims it aims to make the crypto space safer for users.

    According to DogeZilla’s whitepaper, it has a vault that verifies crypto launches.

    It says: “Obviously, it is not a 100% fool-proof method because that simply doesn’t exist in this space, but reducing risk to the highest degree is the purpose of Vault.”

    Moreover, users can gather DogeZilla tokens by holding.

    Specifically, “5% Holder Rewards are dispersed to all token holders relative to their holding percentages,” DogeZilla claims. 

    For upcoming projects, DogeZilla is planning to launch an NFTs Invasion Series in early 2022. 

    Its logo features an amused dog in what appears to be a dinosaur costume. 

  • What are red flags of scams?

    Gizmodo shared that other red flags of the SQUID coin being illegitimate was that the website that the creators launched was filled with spelling and grammatical errors.

    The crypto’s telegram channel also did not allow comments from outsiders, and its Twitter account did not allow users to reply to posts, which Gizmodo flagged as suspicious.

  • Who is behind Algorand?

    The Algorand Foundation based in Singapore is behind the project.

    Algorand claims that it speeds up transactions and improves efficiency when compared to bitcoin and other blockchains.

  • What is Algorand?

    Algorand is a cryptocurrency of the Algorand blockchain, a public decentralized network on which smart contracts can be built.

    It was created in 2019 by Silvio Micali, a professor a the prestigious Massachusetts Institute of Technology (MIT).

    The computer scientist has also won the Turing Award for his work in the area of cryptography.

  • Risks of Robinhood, part two

    For investing individual stocks, make sure you check company reports, Securities and Exchange Commission (SEC) filings, broker notes, and press releases so you can make the best decisions for your money.

    Another risk when choosing Robinhood along with other brokers is that they can restrict trading when there’s unusual activity.

    In fact, Robinhood faced some outrage earlier this year when it restricted trading on meme stocks including GameStop and AMC.

  • Risks of Robinhood

    When it comes to risks, investing alone is one because you’re not guaranteed to generate a profit and the value of your assets could fall.

    If you’re choosing Robinhood so you can trade stocks and cryptocurrencies – then the game gets even riskier.

    Cryptocurrencies are not only difficult to understand but even tougher to predict when bearish trends in the market will take place.

    For example, cryptocurrency was thriving this year up until Elon Musk said that Tesla was halting the acceptance of payments in Bitcoin.

  • R.I.P. Mr Goxx, the crypto-trading hamster

    Sadly, Mr Goxx, the crypto-trading hamster, passed away on November 23.

    The tragic news was shared on Mr Goxx’s official Twitter account.

    “We feared this day like no other and are truly shocked for it to happen just now,” Mr Goxx’s Twitter account tweeted on Wednesday.

    “In deep sorrow, we have to announce the loss of our beloved furry friend.”

    The account continued: “Being with us as a pet for quite a while, he became famous out of nowhere. Mr. Goxx has brought joy to people all across the globe and reminded us not to take life too seriously.

    “He shed light into dark moments of pandemic, inflation and many kinds of trouble.”

  • Goxx’s creators

    Speaking to the BBC, the two 30-something German men behind Mr Goxx the crypto-trading hamster explained that the idea started as a joke.

    “We felt that everything keeps getting more expensive these days and building savings is super-hard to achieve with high rents to pay,” they said.

    “It seems like most people from our generation see no other chance than throwing a lot of their savings on the crypto market, without having a clue what’s going on there.

    “We were joking about whether my hamster would be able to make smarter investment decisions than we humans do.”

  • ‘Decision tunnels’

    The amount to be traded is determined when Goxx runs through one of two “decision tunnels”.

    Depending on which tunnel he runs through, the amount he will buy or sell the cryptocurrency changes in 20 euro increments.

    All of the data is rigged to a computer that makes the transactions in real-time on Goxx’s behalf.

  • Crypto-trading hamster, continued

    The four-legged financial fiend was not completing transactions himself, of course.

    Instead, Goxx’s trading decisions were made inside a camera-rigged “office” attached to his regular cage.

    Every day, when he entered the office, a stream was started on Twitch and a tweet was sent out to his followers notifying them that trading had begun.

    The hamster then ran on an “intention wheel” that chose one of 30 different cryptocurrencies to trade.

  • A crypto-trading hamster outperformed market

    A hamster in Germany previously traded in cryptocurrencies and consistently outperformed the S&P 500.

    The furry animal, called Mr Goxx, was busy working since June, thanks to a specially adapted cage.

    He determined which currencies to buy or sell by running on his wheel or walking through one of two tunnels.

    Mr Goxx started trading on June 12 this year.

    The site states that the page is just for fun and does not offer financial advice.

  • Major meme coins, part 2

    Another dog meme that has picked up traction this year has been Saitama inu, whose logo appears to feature a wolf surrounding a human face.

    “Tokens like Shiba Inu, Dogecoin and newest gainer Saitama are all a part of the evolution of digital finance in their own unique way,” Chris Kline, chief operating officer and co-founder of Bitcoin IRA, recently told The Sun.

    Separately, Tiger King is a meme coin that has picked up strong momentum off the past month, which is based on the popular Netflix series.

  • The major meme coins

    The surge of the meme coins this year all started with Dogecoin.

    That was then followed by Shiba Inu, which both feature the same dog breed in their logos.

    The image became a popular internet meme called doge, and it features the dog surrounded by text in the comic sans font with words like “much wow.”

    Both Shiba and Dogecoin have been popular dog meme coins this year.

  • What are meme coins?

    A meme coin typically gains off a social media or an internet-based joke.

    It all started with GameStop and AMC earlier this year, when a Reddit mob trolled short-sellers by driving up the prices of those stocks.

    The memes then spread over to cryptocurrencies – and there are now a few major ones today.

  • Gyen cryptocurrency price predictions, continued

    Wallet Investor expects the price of GYEN to add another zero and fall to $0.00845 in a year’s time.

    Meanwhile, Digitalcoin expects GYEN to gain to around $0.022 in 2021.

    Furthermore, Goldman Sachs expert Andrew Lokenauth is even more bullish on GYEN.

    “From my prior experience, I feel it will be included on other exchanges due to demand,” he told The Sun.

    “Also, due to current hype and mentions of GYEN on Reddit and Twitter, this can easily reach 10 cents.”

  • Gyen price predictions

    The price of GYEN has jumped thanks to becoming available to Coinbase pro members.

    Where the price will wind up in the future is tough to predict – and it is yet to be included on other major exchanges like Robinhood.

    Marie Tatibouet, chief marketing officer of crypto exchange Gate.io, told The Sun that stablecoins aren’t exactly supposed to surge in trading like this.

    “It looks like the demand is so high that the peg has failed to hold,” she said.

    “A good stablecoin shouldn’t surge or fail under scrutiny.”

  • What is Ethereum?

    Ethereum is a cryptocurrency that was released in 2015. It’s the second largest after Bitcoin.

    In fact, some experts believe it has the potential to one day overtake Bitcoin as the dominant coin in the market.

    It was founded by eight people, one of which is 27-year-old cryptocurrency “celebrity” Vitalik Buterin.

    He recently became the world’s youngest crypto billionaire as Ethereum soared in value.

    Ethereum is also a ledger technology – using “blockchain”, like Bitcoin – that companies are using to build new programmes.

  • What is Hbar crypto?

    Hashgraph is similar to a blockchain and was created in 2017 by American computer scientist Leemon Baird.

    The Hedera Hashgraph system is a distributed ledger built on Hashgraph and was created by Baird along with Mance Harmon.

    HBAR is the cryptocurrency of the Hedera Hashgraph.

    The company itself explains: “HBAR is the native, energy-efficient cryptocurrency of the Hedera public network.”