By EWN • 18 March 2023 • 11:15
The crypto market has had a slightly negative reading this week for the leading meme coins, Dogecoin (DOGE) and Shiba Inu (SHIB), as they both watched their prices slump. In the wake of a myriad of severe banking collapses that have affected the value of multiple cryptos, Dogecoin watched its price fall by 10%, while drama around Shiba Inu’s new Shibarium also saw its price fall. In such times, crypto enthusiasts may feel concerned about trading and wish to protect their assets and wait for more bullish runs. A new crypto vault called Lockyourcrypto.com is the answer to their prayers.
Dogecoin slumped this week on Wednesday during US trading hours. After failing to break its 21-Day Moving Average (DMA) in the mid-$0.070s, Dogecoin (DOGE) began watching its price, slumping with price predictions now becoming bearish for the leading meme coin. This marks what has been a difficult few weeks for the leading meme coin in which its price has been affected by variable outside factors such as Elon Musk, a formerly staunch Dogecoin advocate, tweeting that AI had replaced crypto as his main object of interest.
Right now, Dogecoin remains within the top ten cryptocurrencies on the CoinMarketCap with a market cap of over $9bn.
Shiba Inu’s community has eagerly anticipated the release of the beta version of its upcoming layer 2 Shibarium blockchain, which many believe would reduce a dependency on the Ethereum blockchain for SHIB transactions.
A beta ‘testnet’ is a blockchain that imitates the virtual environment of a mainnet blockchain as realistically as possible, while Layer 2 refers to off-chain systems that are built atop the Layer 1 protocols. However, the excitement quickly subsided after a member of Shiba Inu’s community flagged concerns, and since then, the SHIB token has fallen by 10%, just like its rival Dogecoin.
The crypto market is accompanied by a myriad of benefits and challenges that exist in tandem. Crypto assets, due to their digital nature, are at risk to cybercriminals. The crypto industry has fallen prey to cybercriminal networks; a report published by the United Nations in 2022 testified to this by detailing how $3.8bn was stolen from crypto-related businesses, illustrating how the crypto community sustained heavy losses.
This has underlined how imperative it is for investors to feel secure with their crypto assets. This is where Lockyourcrypto.com comes in. It provides investors with security to safely stash their funds and determine how long the cryptos will remain deposited. This is done through a very straightforward process where a certificate is sent to the depositor to confirm their details. It ensures that Lockyourcrypto.com becomes a very useful crypto vault that protects funds and investments and allows investors to continue trading in the industry.
Website – https://lockyourcrypto.com/
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
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