💥 Weekly Wrap Up: Shiba Inu (SHIB) and Dogecoin (DOGE) bypassed Bitcoin (BTC), NFT became the word of the year, and Bitcoin (BTC) fell in price below $55K
- Top 5 news of this week in a nutshell
- Crypto Markets Wrap Up: what’s up with BTC and ETH this week. TOP 4 gainers. TOP 4 losers of the week
- Good weekend read
- Non-tech crypto vacancies of the week
📌 Top 5 stories of the week in a nutshell:
🐶 Shiba Inu and Dogecoin have bypassed even Bitcoin in the US
In 23 US states, Dogecoin (DOGE) and Shiba Inu (SHIB) were the most popular cryptocurrencies according to search queries. Analysts explained DOGE’s leadership by Elon Musk’s attention to the asset. Moreover, a representative of Musk took one of the managing positions on the board of the Dogecoin Foundation, which announced its relaunch some time ago.
Another reason for the growth is the high degree of acceptance of meme coins by Americans. According to CoinGecko, since the beginning of the year, DOGE has risen in price by 20,170%.
📖 US Regulators will prepare a guide on cryptocurrencies
US banking regulators, namely the Fed, FDIC and OCC, have identified a number of areas related to the regulation of digital assets that require additional clarification. During 2022, the agencies plan to clarify whether certain actions related to crypto assets carried out by banking organizations are legal.
To date, the agencies have developed an agreed set of terms, identified key risks and analyzed how existing rules and guidelines can be applied.
🏃♂️Elon Musk calls to leave CEX exchanges
Elon Musk raises a new wave of protest in the cryptocurrency market. After a quarrel with Binance CEO Changpeng ZHAO, the Tesla founder called on DOGE hodlers to leave centralized trading platforms offering digital asset exchange services.
In a recent tweet, the billionaire spoke out in favor of withdrawing money from centralized trading platforms so that Dogecoin holders control their own private keys.
🏃♀️ NFT named word of the year, overtaking “Bitcoin”
Publisher HarperCollins said that the reduction of NFT has become “mainstream”, as billions of dollars have been spent on the purchase of collectible tokens with unique images and videos.
According to linguists, the frequency of using the abbreviation NFT has increased by 11,273% this year. She managed to overtake the words associated with the coronavirus pandemic and enter the top ten most popular words of this year. Moreover, the abbreviation NFT has now been added to the Collins English Dictionary, as well as the words “crypto” and “metaverse”.
📈 The price of bitcoin has fallen below $55,000
On Friday, November 26, the quotes of the first cryptocurrency fell below the $55,000 mark. According to CoinGecko, the drop over the past day was 5.9%
Not all participants of the crypto community were concerned about the correction. Analyst Michael van de Poppe called the current price dynamics “beautiful”. He drew attention to the fact that not only the cryptocurrency market is falling. In his opinion, PlanB’s idea of bitcoin reaching the $98,000 mark “no longer exists.”
What about ETH and BTC this week?
BTC started the week at $58,000 and reached $54,000 by the end of the week – the latest review can be read here.
ETH started the week at $4,100 and reached $4,014 by the end of the week – the latest review can be read here.
TOP 4 altcoins of the week: who showed growth?
1. The SAND cryptocurrency of the Sandbox blockchain has soared by almost 100% in just a week. At the time of writing, the price of SAND is $8.24, which is only 3% lower than the absolute maximum reached earlier.
2. Avalanche (AVAX) has updated the highs this week. In five days, the token has risen in price by 77%. And on the night of November 21 to 22, it updated the historical maximum at $147.
3. The cost of the Pharma Pay Coin token increased by 507% over the week. On November 26, the altcoin price set a historical above $0.0219.
4. The best growth result this week is demonstrated by Gala (GALA) +223.05%.
TOP 4 altcoin losers of the week: who showed the rollback?
1. WAX (WAXP) becomes the loser of the week with a loss of 16%.
2. Quant (QNT) continues its downtrend after falling from 12% to 2% for 7 days.
3. With a loss of over 10%, Elrond (EGLD) becomes the loser of the week.
4. Oasis Network (ROSE) decreased by 13.99%
🌈 Good reading for the weekend
Learn more about Solana (SOL): is that a Ethereum killer or lover?
Understand more the features of the DOGE, which is becoming more and more popular.
Find out how many transactions in US dollars the bitcoin network has worked since the beginning of 2021 and how many times this figure is greater than the volume of transactions of the PayPal payment system.
Read the story of a Mexican billionaire who advises buying Bitcoin (BTC) right now.
👩🔧 Some non-tech vacancies in crypto
▪️Senior Product Designer
▪️Product UX Designers
▪️Business Development Lead
▪️Community Manager (Clarity Protocol)
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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.