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You can now inflict “9999 emotional damage” on Dogecoin fudsters using Dogepedia

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You can now inflict “9999 emotional damage” on Dogecoin fudsters using Dogepedia

You can now inflict “9999 emotional damage” on Dogecoin fudsters using Dogepedia Samuel Wan · 5 hours ago · 2 min read

The Dogecoin Foundation launched a new resource in the fight against FUD, calling for community input to improve it.

2 min read

Updated: July 28, 2022 at 11:43 pm

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Cover art/illustration via CryptoSlate

Product Lead at the Dogecoin Foundation Timothy Stebbing announced a new tool in “the war against Dogecoin FUD” – Dogepedia.

Stebbing’s recommended action when encountering fear, uncertainty, and doubt is to refer the fudster to Dogepedia and inflict “9999 emotional damage” on the guilty party.

Hey #dogecoin, there’s a new weapon in the war against dogecoin FUD, we call it the Dogepedia!
https://t.co/Lf1ZJWdg46

How to use:
1. encounter FUD
2. link article from dogepedia
3. 9999 emotional damage pic.twitter.com/5eLdUjpbyL

— Timothy Stebbing (@tjstebbing) July 27, 2022

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Dogecoin Foundation release Dogepedia

Dogepedia is a comprehensive directory of all things Dogecoin, including guides and FAQs. But, unlike Wikipedia, the content is not user-generated, nor can it be edited by anyone, which may be advantageous in keeping the content correct.

“Dogepedia is the resource containing Documentation, Guides, FAQs and Resources related to Dogecoin. The place to be for all shibes trying to learn about Dogecoin and crypto. Such knowledge! Much wow!”

The listed sections include Dogecoin basics, wallets, using your DOGE, community and ecosystem, running nodes, mining, development, how-tos, and FAQ and FUD. Each section contains several links to break the topic down further.

Interestingly, the FAQ and FUD section addressed multiple criticisms leveled at the meme coin, including it being a joke, a lack of utility, and having no hard cap. On Dogecoin being a joke, Dogepedia said:

“Despite Dogecoin’s genesis as a joke, though, more and more people are beginning to realise Dogecoin’s utilitarian value as a legitimate, efficient, and functional currency.”

How to get involved

Although the currently available content covers the most widely asked questions, Stebbing acknowledged that Dogepedia is a work-in-progress and requires input from the community.

He said community members can contact dev @inevitable360 and node operator @mishaboar to contribute to articles or chat about Dogecoin. While not the “perfect” system to build out a directory of content, Stebbing commented that it is the best way to garner community input at present.

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“We know it’s not perfect (yet!) but we’re hoping this will be a resource the whole community can #BUIDL and use.

Meanwhile, DOGE formed a local bottom at $0.0489 on June 18. This zone represents a strong level of support, having bounced at this level on two recent previous occasions.

Since then, a relatively sideways pattern has played out, with the $0.0788 price level proving tough resistance to crack. During this phase, the accompanying volume has been flat.

Wednesday saw 9% gains to close the day at $0.0674. Today sees a continuation of buying as DOGE looks to retest $0.07.

Source: DOGEUSDT on TradingView.com

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Shiba Inu announces SHIB Burn Visa Card

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Shiba Inu announces SHIB Burn Visa Card

Shiba Inu announces SHIB Burn Visa Card Zeynep Geylan · 11 hours ago · 2 min read

Shiba Inu team announced the upcoming SHIB Burn Visa Card with the slogan “Make payments, burn SHIB.”

2 min read

Updated: July 25, 2022 at 4:55 pm

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Cover art/illustration via CryptoSlate

Shiba Inu’s team announced the coming of the new SHIB Burn Visa card on July 25, which burns SHIB while making payments.

The announcement was made through Shiba Inu’s burn tracker Twitter account, @shibburn. The three-second announcement video only showed an orange-colored Visa card with SB initials, with the slogan “Make Payments, Burn SHIB.”

Shibburn is going in a new direction. #shib #shibarium pic.twitter.com/IzcQMtvs6P

— Shibburn (@shibburn) July 24, 2022

SHIB Burn

In April 2022, Shiba Inu and Ryoshi Vision collaborated to create the Shiba Inu burn portal. The portal is aimed at motivating SHIB holders to burn tokens. The burners are supposed to gain RYOSHI tokens and 0.49% of all transactions in return.

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However, reward distribution has been extremely slow. Even though SHIB holders burned around $110 million worth of SHIB only in 24 hours, they have been getting impatient with the reward RYOSHIs.

The frustration has been noticed by the Shiba Inu team as well. The team posted on Shiba’s official blog and said:

“What is apparent is the continued failure to deliver such workflows precisely based on the platform’s promise. The fluidity of rewards is under-performing.”

The Shiba team also added that they have reached out to Ryoshi Vision about the lagging, saying:

“The shape of our community’s confidence is of utmost importance to the team.”

However, no changes were made to the reward distribution process. The new SHIB Visa aims to improve the burn process without being tied to the Ryoshi team.

Shiba Inu’s future

A recent survey by Finders.com found that 73% of the participants see the end of Shiba Inu by 2030, while 30% think the coin won’t make it by the year-end. Prominent names argue that the current bear market will get rid of “joke-type” coins and open room for “real innovation.”

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As a response to this, Shiba Inu has been making serious changes to itself. In addition to the new burn mechanism, the most recent changes include the Shiba metaverse and stablecoin.

Doggy metaverse

The Shiba team has announced the upcoming Shiba Metverse in February 2022, saying that they have been monitoring the growth of the metaverse and believe in its future.

The team said they have been exploring various ideas, including establishing partnerships with metaverse giants like the Sandbox and Decentraland.  However, it is certain that the Shiba metaverse will be a dog-themed reality, with purchasable lands and Shiba NFTs.

SHI stablecoin

SHIBA stablecoin was announced on May 12, 2022, without specifying a date for the launch. However, the team said that the ultimate goal for SHIB is to become a “global stable currency that plebs across all countries.” 

According to the team, SHIB will have a stable price in the end, so it can be used both as a store of value and a method of payment.

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Meme Coin

Report: Finder’s Panel sees the end of Shiba Inu by 2030

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Report: Finder’s Panel sees the end of Shiba Inu by 2030

Memecoins

Finders.com conducted a survey asking 36 fintech experts about Shiba Inu and found that 73% of the panelists believe now is the best time to sell the meme coin.

2 min read

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Updated: May 20, 2022 at 1:48 pm

Cover art/illustration via CryptoSlate

Finders.com surveyed 36 fintech experts for its latest Shiba Inu (SHIB) Price Predictions Report and found that 73% of the panelists believe SHIB will have no value by 2030.

The price prediction panel members include Swinburne University of Technology director and lecturer Dimitrios Salampasis, University of Canberra senior lecturer John Hawkins, and Head of Funds at DigitalX Asset Management Matthew Harry.

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Meme coins like Shiba Inu will be phased out

Most of them agree on one thing; it is downhill from here for SHIB. 30% of the panelists believe that the meme coin will be worthless by the end of the year, 60% extended the doomsday till the end of 2025, but 70% are confident the token will be worth nothing by the end of 2030.

The average price prediction for the end of 2022 is $0.000018750. Matthew Harry believes SHIB will be trading at 0.0001 by 2022-end. But he sees it phasing out by 2025.

Harry said:

This market is maturing, and things like SHIB will die as capital begins to flow to quality and value rather than being scattered across the field in the hope that every player wins a prize. That’s not how things work. Hype dies, value rises.

Others also share this opinion, including Salampasis, who said:

All these joke-type coins will disappear and leave space for actual innovation and cryptoassets that can serve proper use cases.

With most experts predicting the end of the token, they also believe now is the best time to sell. 73% of the panelists, including Finder.com co-founder Fred Schebesta, share this opinion.

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The price prediction comes amidst the poor performance of the coin in recent weeks. SHIB has also lost more than half of its value in the past 30 days amid the overall market downturn. 

Shiba Inu is reinventing itself

However, most SHIBA holders are optimistic about its recovery. Shiba Inu has been trying to redefine itself in the past few months, showing that it’s more than a meme coin. 

The project developers have lined up other projects like the Shiba Inu metaverse, ShibaDEX, the  SHI Stablecoin, Shibarium Layer 2 solutions, Shiba Inu NFTs, alongside a burning mechanism that is designed to help push its price up through scarcity.

These projects are yet to affect its price, but many believe they may eventually push its recovery. The token has also enjoyed massive adoption from the crypto community as some business entities have revealed their willingness to accept the token as a payment option.

Thanks for the chat about everything #SHIB .@redbull ! Looking forward to speaking more in the future! pic.twitter.com/ROh3RceFyS

— Shytoshi Kusama™ (@ShytoshiKusama) May 19, 2022

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Apart from that, there are rumors that the SHIB token may be in partnership discussions with Redbull.

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Altcoins

Shiba Inu gives update on new developments, including the SHI stablecoin

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Shiba Inu gives update on new developments, including the SHI stablecoin

Memecoins

Shiba Inu developments, per Riyoshi’s Vision’ are in full swing, but no firm dates were given at this time.

2 min read

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Updated: May 11, 2022 at 5:38 pm

Cover art/illustration via CryptoSlate

A blog post from Shiba Inu gives an update on ecosystem developments per ‘Riyoshi’s Vision.’ Riyoshi is the project’s anonymous founder who claims to hold 0 $SHIB tokens, as doing so would affect his judgment and decision-making.

“Don’t worry, the great Shiba will reward me in other ways i guess.”

Riyoshi’s Vision was first set out in a Medium article posted in May 2021, approximately five months before $SHIB hit its all-time high of $0.00008870. The document sets forth plans to build a ‘decentralized and perpetual community’ based on personal responsibility.

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Achieving this would require the rollout of four specific features/protocols, ShibaSwap, Shibarium, the SHI stablecoin, and the Shibarium Financial Ecosystem.

Shiba Inu lead dev gives tentative rollout date

Shiba Inu’s Lead Developer, Shytoshi Kusama, said all four components of Riyoshi’s Vision — that are in development — are close to completion. However, Kusama did not give any firm dates, only saying that one or more will be coming out around August to September.

“I refuse to give any hard dates at this time, but I expect to see one or multiple of these technologies before the end of summer or very early fall.”

Giving further details on individual components, Kusama pointed out that the ShibaSwap dex is already out and has been operational since July 2021.

Shibarium is a layer-2 blockchain for Ethereum which will use the $BONE token to offer scaling and low fees to a ‘myriad of projects.’ Kusama did not expand on these projects but did mention a hackathon is due to take place soon.

The SHI stablecoin is close to being finished, and testing will commence shortly. SHI is an algorithmic stablecoin pegged to 1c. When details of SHI first emerged, Riyoshi was unsure about which path to take, either a synthetic collateral model or a FRAX-type model, which operates a fractional reserve system and a ‘catcher coin’ to maintain the peg.

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“The end goal is that SHI (operating both on ETH and the Shibarium) becomes a global stable currency that plebs across all countries are able to use as both a store of value and method of payment.”

Kusama did not give details on which route the devs took. And nor are there details available elsewhere.

Details were light on the Shibarium Financial Ecosystem. But it is known that Riyoshi expects Ethereum liquidity protocols, including Aave, Curve, and Compound, to fork over to Shibarium.

Stablecoins have been under fire since the UST disaster

Following the collapse of Terra’s UST stablecoin, US Treasury Secretary Janet Yellen has voiced her concerns over the ‘rapidly growing risks.’

“I think that this simply illustrates that this is a rapidly growing product and there are rapidly growing risks.”

Fears are now mounting that regulators will take a heavy-handed approach to stablecoins to prevent similar occurrences in the future.

Ilan Solot, Partner at Tagus Capital, said the whole debacle might bring light to the difference between different types of stablecoin per their peg mechanism. UST operates an algorithmic model, which does not feature reserve assets backing it.

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