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Dogecoin up as Doge Replaces Twitter’s Bird Logo, Bybit Lists BabyDoge, XRP Surpasses Altcoins in Inflows: Crypto News Digest by U.Today

Tue, 04/04/2023 - 15:45
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Valeria Blokhina
Only the latest crypto news and updates in U.Today’s news digest!
Dogecoin up as Doge Replaces Twitter’s Bird Logo, Bybit Lists BabyDoge, XRP Surpasses Altcoins in Inflows: Crypto News Digest by U.Today
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U.Today has prepared the top four news stories over the past day.

Dogecoin surges as Doge replaces bird logo on Twitter

Yesterday, on April 3, the entire Twitter community went abuzz as the iconic bird logo of the biggest social media platform was replaced with the mascot of Dogecoin meme crypto. The replacement worked in DOGE’s favor as its price surged by 8%. The “mastermind” behind the idea is believed to be Elon Musk, the current head of Twitter, as he is known for endorsing Dogecoin in the past. Users’ reactions to the logo change were divided: some found it funny and in line with Musk’s sense of humor, while others wondered whether the platform had been hacked or if it were a belated April Fool's prank. According to Fortune reporter Leo Schwartz, the logo change was made to distract users from ongoing issues with Twitter Blue subscription service.

David Gokhshtein's Meme Coin Tweet Causes Vibrant Reaction by Community

32 trillion BabyDoge giveaway to follow Dogecoin (DOGE) offshoot listing on major exchange

Per a Twitter announcement by Bybit, it will add support for BabyDoge today, April 4. The token will be listed in the spot market section against USDT. Apart from that, in order to celebrate the BabyDoge listing, the exchange decided to run a giveaway of 32 trillion tokens. The prize pool will be divided into two events. The first event with a 20 trillion BabyDoge prize pool requires participants to accumulate 40 billion coins in their account. The first 2,000 who fulfill the conditions will be awarded 10 billion BabyDoge each. The second event will draw the remaining 12 trillion coins; participants will need to purchase at least 8 billion BabyDoge and transfer them from their spot account on Bybit to any wallet connected to the BabyDoge Swap via Binance Smart Chain. All that is left to do is to fill in the special form with your Bybit ID number and exchange wallet address.

XRP is major altcoin winner in digital asset investment surge

As reported by CoinShares, last week, XRP won top spot among altcoins for funds inflows from traditional investors. During the period under review, XRP-focused investment products saw inflows totaling $800,000. Despite the fact that it was a third less than in the previous week, XRP’s result still surpassed all cryptocurrencies, except Bitcoin. There are currently $53 million worth of assets managed in such products. Thanks to the new infusion of funds, cumulative inflows into XRP-oriented investment products have averaged $3 million since the start of the year. By comparison, that is $92 million more than BTC and $21 million more than Ethereum.

Whopping 1 billion SHIB burned in past week, Shiba Inu price in green

Data provided by the Shibburn transaction tracker demonstrates that over the past seven days, the SHIB army has managed to destroy a total of 1,073,775,122 SHIB. Although this is a 45.04% decrease from the previous week, the weekly burn rate is still at a pretty high level. The week before last, the SHIB army removed 1,642,854,789 SHIB. That included a staggering 834,804,461 SHIB removed from circulation in a single transfer. Shiba Inu burns have been largely fueled by transactions on the Shibarium beta called Puppynet, which was launched on March 11. At the moment of writing, SHIB is changing hands at $0.00001125, up 5% over the past 24 hours.

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About the author

Valeria is the community manager at U.Today. She is a crypto enthusiast and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news in the world of crypto and blockchain.