ShibaCoin – The DogeKiller is Pumping, DogeCoin Dumped

ShibaCoin – The DogeKiller

ShibaCoin – The DogeKiller

Tesla founder and CEO Elon Musk heavily promoted Dogecoin on Twitter recently, driving its value to increase significantly. 

In 2021, Musk became one of the biggest supporters of the said cryptocurrency. Calling himself The Dogefather, he announced his May 8 SNL appearance in April. During the show, he announced that he would be giving $500 million worth of Dogecoin. 

The History

A man named Alex Green joined Dogecoin and founded the UK-based cryptocurrency exchange Moolah. He started asking for upvotes on the Dogecoin subreddit in exchange for Dogecoins. Additionally, he had been very generous, donating thousands of dollars to charity. The shibes loved what he did, prompting them to support Green and his endeavors.

Later on, Moolah started soliciting the shibes for investment dollars. Many of them donated their Dogecoin as a way to repay Green for his favors. However, some people were wary of the company’s intentions.


The Scam

Moolah collected more than $300,000 across three different investment rounds. However, the company went completely bankrupt in October 2014. This resulted in the shibes losing every cent that they have invested. Green disappeared completely and brought all the Dogecoin he was able to collect, after the bankruptcy. 

For that reason, many think of Dogecoin as a scam now. And when Musk began promoting this cryptocurrency, people asked him to stop because the issue does not suit his stature. 

ShibaCoin – The DogeKiller

Meanwhile, Shibacoin, another cryptocurrency similar to Dogecoin is taking over the digital currency industry. Many people who no longer trust the latter are switching to Shibacoin, causing it to take over Dogecoin’s trading volume. Chinese traders began calling it the Doge Killer. 

Shibacoin suddenly achieved significant investment from Chinese traders regardless of it not having any technological promise. Recently, trading in the said currency was launched by Binance. This resulted in its price increasing twice the original in cryptocurrency exchange Huobi.

According to CoinMarketCap, Shibacoin’s value right now is at $0.00003026. This is much higher compared to the $0.0000006 value in April. Additionally, it went up by nearly 130 percent in just 24 hours as of the time of writing.

With Chinese traders showing their support for Shibacoin, it will potentially increase its value further. The fact that it can compete with Dogecoin is an assurance that its Shibacoin is worth buying.

ShibaCoin – The DogeKiller

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