107.9FM NYJ/LA

Translate This Page

Shiba Inu, Dogecoin, Other Meme-Themed Cryptos Widen Losses As NFT Plays And 'Ethereum Killers' Soar

Posted by Shivdeep Dhaliwal on Tuesday, June 1, 2021 Under: 848FINACE

Dog-themed cryptocurrencies continued to widen losses, while so-called Ethereum (ETH) killers and non-fungible token or NFT oriented coins were buoyant in the early hours of Thursday at press time.

© Provided by Benzinga

What Happened: SHIBA INU (SHIBA) was down 12.88% at $0.0000089 at press time in a span of 24 hours. In the same period, the meme cryptocurrency fell 9.4% and 9.16% against Bitcoin (BTC) and ETH, respectively.

Dogecoin (DOGE) too traded in the red, down 5.67% in a 24-hour period, at $0.34 at press time. The Shiba Inu-themed coin fell 2.09% against BTC and 1.83% against ETH.

See Also: How to Buy Dogecoin (DOGE)

The two largest cryptocurrencies by market capitalization, BTC and ETH traded 4.28% and 4.15% lower at $38,119.48 and $2,727.70, respectively, at press time.

Bucking the trend, Ethereum killers Stacks (STX) and Chainlink (LINK) saw significant gains of 12.11% and 5.46%, respectively, in a 24-hour period. STX traded at $1.16 and LINK at $32.80 at press time.

Also on the rise were NFT linked tokens Enjin Coin (ENJ) and Chiliz (CHZ). 

ENJ soared 42.10% to $1.90 at press time in a 24-hour window, placing it at the top spot in the CoinMarketCap list of gainers in the time frame. ENJ has appreciated 47.70% and 48.09% against BTC and ETH respectively.

CHZ gained 15.81% to 0.32 in a 24-hour period. Against BTC and ETH, STX rose 23.14% and 21.46%, respectively. 

Why It Matters: SHIBA has declined 76.92% since its all-time high of $0.000039, which it touched on May 10. DOGE too has fallen 54.25% since its May 8 all-time high of $0.74. 

See Also: Why Ethereum Co-Founder Sees Elon Musk's Plan For Scaling Dogecoin As Infeasible

Stacks has been gaining this year thanks to the appeal of earning yield in Bitcoin, which according to OKCoin Chief Operating Officer Jason Lau is “alluring” to holders of the coin.

On Wednesday, Stacks announced a new application that would make it easier to secure grants through the Stacks Grants Program geared towards builders working towards “establishing a user owned internet.” 

LINK, the token of the decentralized oracle network, has risen 193.5% since the year began. The network is focused on providing input on external sources of data into smart contracts. 

Last month Graph Blockchain Inc (OTC: REGRF) announced it had deployed capital to purchase LINK, worth $500,000. The company’s CEO Paul Haber said at the time that it understood “how valuable bridging onchain and offchain data sources is to smart contracts and Chainlink is the best solution on the market.”

NFT tokens ENJ and CHZ were also buoyant at press time. ENJ gained momentum thanks to the 50,000 NFT drop that the project announced earlier in the week. Chiliz is a platform that releases fan tokens centered around sports and has enjoyed the limelight in the recent past. 

In : 848FINACE 


Tags: shiba inu  dogecoin  other meme-themed cryptos widen losses as nft plays and 'ethereum killers' soar 

Panerai Luminor "Blackseal" PAM76 Titanium Black & Silver dial 44mm Automatic wa

PANERAI WATCH
LUMINOR / Ref. PAM76
44mm, Titanium
W525050
Panerai Luminor "Blackseal" PAM76 Titanium Black & Silver dial 44mm Automatic watch
TRY IT ON
G&S Price: $22,000

SALE PRICE

$16,900 


    HOT 103.1 FM HOUSTON

    Fashion director finds. Everything our fashion office is obsessed with right now.

    Shop Janelles's finds

    Instagram



    Here’s $30 of BTC, on us.
    Get free $30 of BTC 
     by funding your Invstr+
    account
    with $100 or more.
    Fund account & claim $30 of BTC
    Need help? Contact us at
     
    supportplus@invstr.com



    Invest, spend, and earn 2.05% APY*–all through your brokerage account.
    Our goal at Robinhood is to democratize finance. This means delivering products that help you do more with your money and improve your life. Today, we're excited to introduce Cash Management, a new feature to give you more flexibility with your brokerage account.
    JOIN THE WAITLIST
    Flexible Spending
    Use your Robinhood debit card anywhere Mastercard® is accepted around the world.
     
    Earn 2.05% APY
    Your uninvested cash is moved to banks in our program that pay you 2.05% APY*. Like all variable rates, this could go up or down over time.
     
    FDIC Insurance
    Your cash in the program banks is eligible for up to $1.25 million of FDIC insurance, or up to $250,000 per bank, subject to FDIC rules.
     
    75,000+ ATMs
    Don't pay fees at any of the 75,000+ ATMs in our network.
    JOIN THE WAITLIST


    See the source image



    For the next two weeks, you can earn increasing levels of Stock-Back™ rewards when you shift your everyday spending to your Stash debit card.* 

    Every qualifying swipe over $5 gets you closer to leveling up your Stock-Back rewards. Levels start tomorrow and reset to zero on Monday, November 18.

    Follow Us

     

    Flag Counter


    Flag Counter

    Make a free website with Yola