The new cryptocurrency, Dubai Coin, has skyrocketed by more than 2,000% right after it was launched on Uniswap late this week.
This comes in conjunction with the sharp divergences that the digital currency market is witnessing during these moments of trading today, Tuesday, before the issuance of the upcoming federal interest rate decision.
The new dubaicoin is an ERC-20 compliant token, and was designed to mark the apparent movement of the crypto market to Dubai as a result of the growing unfavorable regulatory pressure in the United States of America. This currency is recently trading at approximately $0.0008, after rising from the initial launch price of approximately $0.00002.
In any case, the creators of this meme currency did not unveil a roadmap that provides clarifications about any practical functions that give this currency intrinsic value, so its long-term future is still not clear yet.
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Wall Street memes.. a rocket rise?
Wall Street Memes has one of the most popular individual investing communities on the internet, a community that emerged with the meme craze of 2021. However, this community has recently managed to expand its base in the cryptocurrency arena with a new pre-sale of Wall Street Memes. (WSM).
The pre-sale, which raised more than $6 million in just three weeks, surpassed 2021's signature success, which was achieved by the Wall Street Bulls Group selling 10,000 non-fungible tokens (NFTs), raking in $2.5 million in 32 minutes.
Arguably, the success of the pre-sale of WSM comes as no surprise, given the size of the Wall Street Memes community. In addition to the 523,000 highly engaged community members on Wallstbets' Instagram account, we also find another 214,000 on Twitter, and more than 100,000 via two recent Instagram channels, wallstgonewild and wallstbullsnft.
Given the huge fan base of Wall Street Memes, which reaches 1 million people, analysts believe that this will ensure the inclusion of WSM coin on the most popular cryptocurrency exchanges such as Binance.
The digital currency market today
The combined market value of the crypto market during these moments of today's trading is about $1.05 trillion. The trading volume amounted to about 33.60 billion dollars.
Bitcoin rose by 0.85% in the last 24 hours, to now reach $26,009 levels, while recording a weekly gain of 1.22%. Its market value is now $505 billion.
Ethereum, the largest digital currency by market value after Bitcoin, fell by 0.15% in the last 24 hours, to reach $1,737, with weekly losses of 4.3%, and a market value of about $209 billion.
While the price of Binance Coin increased by 4.65%, to record $240. The price of the Ripple currency increased by 2%, to record $ 0.52592.
Cardano saw a drop to 0.2761, down 0.7%, and is down over the last 7 days by 19%.
Dogecoin rose to $0.061506, by 1.18%, with a weekly decline of 9.4%.
