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Crypto celebs hold a lot of sway on the day-to-day price movements of tokens, as Dogecoin and Shiba Inu can confirm. What does the involvement of influencers mean for crypto projects like Big Eyes Coin?
A report of the largest crypto transactions has shined some light on Vitalik Buterin and his involvement with the Shiba Inu network. In 2021, Ethereum co-creator and crypto celeb Vitalik Buterin burned 90% of his Shiba Inu collection. Buterin's burn value is estimated to be around $7 billion. Prices of Shiba Inu jumped 40% after Buterin's statement about his burn went live. Burning is sending crypto to an inaccessible crypto address. The action would take out the number of coins sent from circulation. So next time you hear someone burning some of the coins you own, it means the value of that coin has just increased a little
Moving on to another crypto celeb, Ben Armstrong, aka Bitboy Crypto, has found himself in a $1 billion class action lawsuit. The YouTuber, lately known for his arguments with the Shiba Inu community, is named in a lawsuit against alleged promoters of the fallen FTX exchange.
Bitboy has vowed to get a Shiba Inu tattoo if he is even named in the suit when it comes up for hearing. He's even made the stretch to claim he'll file a countersuit against the plaintiffs as an investment opportunity. Suffice it to say it's been a busy couple of days for SHIB.
Shiba Inu prices have climbed 5% as the network burned close to 12 million tokens last week. A spike in transactions on the Shibarium puppynet is another factor spurring SHIB prices up.
The Shiba Inu network is growing in utility and is adding many Decentralised Applications (DApps) and Decentralised Finance (DeFi) projects to the ecosystem. The network expects more growth as the utility of its Shibarium Layer 2 blockchain grows. Shiba Inu sits 13th in total market capitalization and trades at $0.000011. Whale actions are going up for the coin, and the overall sentiment in the network is to hold. It looks like good times are around the corner for the Shiba community.
The biggest crypto celeb and future Mars overlord Elon Musk has sought the dismissal of a lawsuit against him by Dogecoin investors. Musk's tweets about Dogecoin 2022 created a price rally in Dogecoin value.
When Musk was accused of fraud by inflating the price of Dogecoin by tweeting about the token, his lawyers rejected the claims. Dogecoin prices reflected Musk's statements and have dipped by 6.45% in the last 24 hours. Dogecoin sits 8th in total market capitalisation. The token's prices were up by more than 9% last week, reflecting positive crypto market sentiments.
The price movements suggest the influence of crypto celebs on a token's performance. Musk's comments notwithstanding, Dogecoin is investing heavily in its ecosystems, and the number of DApps on the network is growing.
The cat-themed Big Eyes coin is the newest entrant to the meme coin space. The cute token has vowed to take on the likes of Dogecoin and Shiba Inu. Big Eyes coin has been tearing it up at its presale, raising a huge $32.5 million. The coin will launch on exchanges when it hits its presale target of $50 million and is a wonderful opportunity for investors looking for crypto with a bright future.
Big Eyes is built around its community, and the token has plans to build associations with influencers to grow the community ever further. The latest update from the cat crew is the launch of NFT cards for the community. The NFT collection allows members of the Big Eyes community to create their own NFTs and cash in on them at the time of the token's launch.
Crypto celebs hold a lot of sway in a crypto market that pores each tweet and statement of these movers and shakers of the crypto community. Upward price movements of Dogecoin and Shiba Inu can confirm the effect that celebs and influencers hold on the (crypto) world. The meme coins are doubling down on their plans for their projects and have excellent long-term prospects as adoptions of the ecosystems grow.
Big Eyes Coin is a project that is looking to unseat the established players of the meme coin space. The token has great plans for building a comprehensive ecosystem complete with an NFT marketplace, DeFi projects and DApps. The incredible run of the Big Eyes presale indicates the coin's potential.
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
