Silvergate crisis sends Bitcoin and Ethereum prices into plunge, Dogetti looks to become main Meme Coin Dog

The ongoing crisis at Silvergate Bank has seeped into the crypto market with increasing negativity: both Bitcoin (BTC) and Ethereum (ETH) have witnessed price falls as the crypto market navigates the blowback from the startling events at Silvergate. And as the major cryptos wade through murky waters, a new and fresh crypto swims along comfortably as it seeks to establish itself within the meme coin field. Dogetti (DETI) is showing through its pre-sales that it means business.

What is the Silvergate Crisis?

Silvergate Bank had been supplying a payment network for many crypto companies. Recently it plunged into crisis when it delayed publishing its annual 10-K report, admitting that further unreported losses could mean the bank is “less than capitalised.” Silvergate has been struggling since the FTX crisis as it lost 60% of its deposits in one quarter when many of its customers left with $8.1 billion. Previously, it had reported a $1 billion net loss in addition to a decline in customer deposits of approximately $14 billion in the final quarter of 2022.

With the ongoing crisis and the increasing uncertainty of its own survival, Silvergate has witnessed many crypto companies either distance or sever ties, prompting the bank’s stock to nosedive by an alarming 57% to a record low of $5.72.

Bitcoin and Ethereum feel the effects of the crisis

The repercussions have sent long-reaching ripples through the uncertain waters of the cryptocurrency industry. The two biggest cryptos, Bitcoin and Ethereum, have experienced the consequences of Silvergate’s crisis. Bitcoin (BTC) has gone down by 4.5% as it dropped from $23,500 to $22,259, losing a staggering $20 billion of its market cap. This was followed up by Ethereum, the crypto market’s second-largest coin, falling 4.6%, leaving it at a market cap of just over $193 billion.

With both coins displaying bearish characteristics at the start of March, caused undoubtedly by the Silvergate situation, there are also concerns about how the increasing prospect of more hawkish regulations in the U.S. could affect the cryptocurrency market and possibly contribute to further Bitcoin losses.

Dogetti is fetching the ball at every stage so far

But it’s not all doom and gloom in the crypto market. Investors might look at the bearish market and question if now is the time to invest in unstable assets, but there are still some promising coins to look at. Dogetti, the latest meme coin, is just that.

It’s close to completing Stage 1 of its pre-sales as it races towards $500,000 in sales. During this stage, it’s offering a time-limited bonus of up to 25% in DETI tokens through its welcome code WISEGUY25, a move that has helped it reel more investors in as it gets bigger and bigger on the meme coin scene.

What’s really interesting and cool about Dogetti is how its theme of being a gangster family complements the features of its ecosystem. It’s all about family and nothing else. It puts aside 2% of its transactions that are distributed to anyone holding a DETI token. It also distributes 2% of its earnings to a charity chosen by those in the Dogetti Family. A cornerstone feature that underpins its concept of being a family is its DogettiDAO mechanism. This allows family members to shape the direction of the Dogetti platform and earn rewards for participating.

Why is this important? When you consider the crisis of what has happened at Silvergate, it’s clear why for many investors, trust, transparency, and accountability are vital. Dogetti provides this reassurance and then some. That’s why it’s enjoying a hot start to its pre-sales. It’s why investors are increasingly excited about what Dogetti could do. And it’s why Dogetti could be the perfect coin to invest in for anyone searching for something long-term and meaningful.

It’s like it’s a relationship, a family.

For more information on Dogetti, see the links below:

Presale: https://dogetti.io/how-to-buy

Website: https://dogetti.io/

Telegram: https://t.me/Dogetti

Twitter: https://twitter.com/_Dogetti_

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WARNING: The investment in crypto assets is not regulated, it may not be suitable for retail investors and the total amount invested could be lost

AVISO IMPORTANTE: La inversión en criptoactivos no está regulada, puede no ser adecuada para inversores minoristas y perderse la totalidad del importe invertido