Dogecoin (DOGE) Founder Takes A Jab At Shiba Inu (SHIB) On Twitter

Shibetoshi Nakamoto publicly pours scorn on Shiba Inu as the FTX Arena is desperately looking for a name change.

Dogecoin (DOGE) Founder Takes A Jab At Shiba Inu (SHIB) On Twitter

Billy Markus, the outspoken programmer who created Dogecoin (DOGE) as a joke back in 2013, doesn’t have much love for rival memecoin Shiba Inu (SHIB). The memecoin project is respected for its longevity and has a huge fan base, even among popular American celebrities like Snoop Dogg, Ice Cube, Gene Simmons, Mark Cuban and, of course, the new Twitter boss Elon Musk.

Hence, Billy Markus believes that Elon Musk’s attempt at ‘making Twitter entertaining again’ is genuine and the move can open doors for a faster crypto adoption. He also thinks it can sort out the security issues on the micro-blogging platform that had been neglected by the previous administration.

FTX Arena In Miami, Florida, is Hankering for a Name Change

It’s a well-known fact that the embattled FTX crypto exchange bought the name rights to the homeground of the Miami Heat. The NBA team now plays in the FTX Arena, but since the second largest crypto exchange around the globe is getting shredded to pieces, crypto enthusiasts on Twitter are giving Binance’s CZ suggestions on what to rename the venue.

Billy Markus unsurprisingly suggested the new name should be “DOGE Arena.” But when another crypto enthusiast, who goes by the handle “The Chairman”, remarked that Binance’s boss would most likely rename it “Shiba Inu Arena”, Mr. Shibetoshi Nakamoto was appalled. “That would suck so hard”, Billy uttered.

Dogecoin’s (DOGE) Post-Twitter Deal Gains Are Fading Away

Unfortunately for the DOGE Army, the top dog coin has shrunk by 28.2% in the last seven days. Right after Elon Musk finalized the $44bn Twitter deal, the canine crypto shot up to as much as $0.142 on November 2nd, 2022.

However, the recent turbulence caused by the FTX fiasco stripped DOGE of this achievement, and it is now back under the crucial resistance line of $0.10. At press time, the 9th ranked cryptocurrency is priced at $0.092353, according to CoinGecko.

Despite getting thrown around by the heartless crypto bears, DOGE still has a reserve of 54.2% in the green due to Elon Musk’s Twitter acquisition and the promise of an integrated crypto wallet.

On the Flipside

  • Binance’s CZ backed out of the FTX deal as the books are ‘beyond repair’ according to Binance’s specialists.
  • Elon Musk halted the crypto wallet idea temporarily due to lack of staff.
  • The new Chief Twit has laid off more than 50% of the company’s former staff.

Why You Should Care

DOGE’s total market cap doubled since Elon Musk ‘freed the bird.’ The increased social mentions of both SHIB and DOGE could spark another bull run for the altcoins.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.