Cena meme (Ordinals)MEME

How did a meme token backed by a world leader soar to a $1.16 billion market cap, only to crash by 95% within hours? A new report published on Friday by DWF Labs sheds light on the launch and collapse of $LIBRA. Libra ( LIBRA ) is a meme token on Solana that skyrocketed to a market cap of $1.16 billion within its first hour, only to lose over 95% of its value shortly after. The token’s collapse erased more than $280 million from approximately 75,000 traders, raising serious questions about insider trading and market manipulation. The incident, known as “Cryptogate,” has drawn political and financial heavyweights into the controversy, including Argentinian President Javier Milei and Web3 investment firm Kelsier Ventures. According to DWF’s report, allegations have surfaced that insiders were given access to $LIBRA tokens before the public launch. Kelsier Ventures’ wallets reportedly made over $110 million from liquidity provision and early sniping of the token. The scandal has triggered political backlash for President Milei, with accusations of fraud and calls for a federal investigation and in some cases a resignation. The DWF report also connects Kelsier CEO Hayden Davis to another high-profile token launch which also has a political connection: United States First Lady Melania Trump’s ( MELANIA ) token. Following the launch of tokens such as $MELANIA and $LIBRA , focus has turned to a need for more transparent and equitable token launch mechanisms in the crypto market. This edition of our institutional report 'A Presidential Guide To Token Launches' examines: ✅ The history of… pic.twitter.com/5Liroimyuz DWF Labs’ analysis could be seen as a warning sign associated with token launch mechanisms. More advanced approaches to launches, notably Dutch auctions and Liquidity Bootstrapping Pools, would help level the playing field for smaller investors. Regardless, the $LIBRA and $MELANIA scandals makes it clear that insider access and market manipulation is an unfortunate reality despite improved launch mechanisms. DWF Labs argues that improved oversight, mandatory pre-launch disclosures, and advanced anti-manipulation measures are steps needed to take to restore order in the market.

Solana’s community just made two big decisions about the network’s future – and they have significant implications for SOL holders. A proposal to slash Solana’s inflation rate (SIMD-228) failed, while a plan to share revenue with validators (SIMD-123) passed. The vote, with 74.3% of Solana’s total stake participating, marked the highest engagement in Solana’s governance history – surpassing even U.S. presidential elections turnout in the past 100 years, as proudly noted by Solana on X. SIMD-228 aimed to ditch Solana’s fixed inflation schedule for a market-driven system, adjusting token issuance based on staking participation. The goal was to reduce Solana’s inflation rate to below 1% annually at the current staking rate of 65%. This contrasts with the existing fixed schedule of 4.6% annually, decreasing to 1.5% over time. Supporters argued that reducing inflation would make SOL scarcer and more valuable, benefiting long-term holders. However, opponents expressed concerns that it could negatively impact smaller stakers and validators who rely on staking rewards for profitability. Related: Solana Co-Founder Anatoly Yakovenko: Trump’s Crypto Order a “Scalpel” Cutting Through Regulatory Uncertainty The vote began on March 6 during Solana Epoch 753 and concluded at the end of Epoch 755. It needed 66.67% approval to pass, but fell short with only 61.4% YES votes. “So issuance will stay the way it is,” said Mert Mumtaz, CEO of Solana developer platform Helius Labs. Related: Solana Revenue Tanks 93%: Meme Coin Market Freefall—Network Earnings Suffer Tushar Jain, co-author of SIMD-228 and co-founder of Multicoin Capital, described the vote as a milestone for crypto governance, calling it the largest governance vote ever in terms of participant count and market cap involvement. While SIMD-228 failed, SIMD-123 passed with nearly 75% approval. The proposal introduces an on-chain mechanism for validators to share a portion of their revenue with stakers. This means validators will now have a standardized way to reward those who stake their SOL with them. Currently, some validators use off-chain methods to incentivize stakers. The new system aims to make this process more transparent and efficient, directly on-chain. In his remark , Solana Labs co-founder Anatoly Yakovenko suggested that opposition to SIMD-228 was not purely self-serving. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

The price of Dogecoin is demonstrating powerful upward momentum, which brought it to the $0.172 level after increasing 5.7%. DOGE has pushed through its essential support level and now shows potential for additional price appreciation. Crypto analysts anticipate the price will reach $3 if support levels maintain their current position, which would represent a major recovery for the meme coin. The analyst Ali Martinez found that Dogecoin continues to stay inside an essential price range. A steady price increase for DOGE will become possible if support levels stay stable. The stock RSI triggered two major price uptrends for Dogecoin according to Martinez because of its bullish crossovers which respectively resulted in 88% gains during October 2023 and another 187% increase in February 2024. Another robust price movement seems possible because the stock RSI indicates it will generate a bullish crossover point. Dogecoin network continues to expand rapidly throughout its operation period. During the last month new DOGE addresses increased by 100% from 16,400 to 34,600. The growing market adoption strengthens Dogecoin’s ecosystem and enhances its potential to grow in the long term. The open interest for DOGE futures markets has risen by 4.5% to $1.40 billion while the 24-hour total liquidations exceeded $7.24 million. The growing number of market participants demonstrates that investors strongly believe Dogecoin has strong upward potential. Tardigrade identified a past pattern which indicates Dogecoin could break out according to analyses. The price initially drops down before consolidating its position while RSI readings stay in a region of extreme price weakness. Bullish market sentiment will strengthen as Dogecoin might experience another major uptrend event based on existing patterns. The investment management firm Bitwise continues its evaluation of launching an ETF that would include Dogecoin as an index component. An approved Dogecoin ETF would establish an opportunity for large institutional capital, amounting to new investments which would hasten its market rise. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

World Liberty Financial (WLFI), a project featuring the Trump family, has successfully concluded its token sale, raising an impressive $550 million, Wu Blockchain reports . The initial sale faced slow demand, but momentum shifted following the launch of Trump-themed tokens. This turnaround highlights growing investor interest in politically themed blockchain ventures. WLFI’s public sale began on October 15 with an initial fundraising target of $300 million. The project offered 20 billion tokens at $0.015 each, restricted to whitelisted investors. However, early sales were sluggish, securing only $11 million from 766 million tokens. Consequently, the team revised its target to $30 million to reflect market conditions. The landscape changed dramatically after the introduction of the “ Official Trump (TRUMP)” and “ Melania Meme (MELANIA)” tokens. Their rapid popularity ignited renewed interest in WLFI. By January 20, 20% of WLFI’s initial supply had been sold. Seizing the momentum, WLFI issued an additional 5 billion tokens at a higher price of $0.05 each. Demand surged, and by March 13, 99% of these new tokens had been sold. Tron founder Justin Sun emerged as one of the largest investors. He initially acquired $30 million worth of WLFI tokens in November. He subsequently raised his investment to $75 million in January by an additional $45 million. Pantera Capital, Polychain Capital, Dragonfly Capital Partners, and F-Prime Capital were among the other prominent investors. WLFI token holders gain governance rights within the WLF Protocol. However, tokens will remain non-transferable for the first 12 months. While the Trump family, including Eric Trump, Donald Trump Jr., and Barron Trump, are prominently featured, the project’s whitepaper clarifies they neither own nor directly manage WLFI. However, they may receive compensation. Besides token sales, Ethena Labs, which is associated with the project, plans to launch a blockchain targeting traditional financial institutions. Moreover, Ethena recently introduced USDtb, a stablecoin backed by BlackRock’s BUIDL fund. This coin is designed to enhance market stability during stress periods. Furthermore, following a $1.4 billion hack on the Bybit exchange , Ethena Labs confirmed that its USDe stablecoin remains fully collateralized. Their exposure to Bybit was minimal, safeguarding investors’ assets through off-exchange custody solutions. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

The lead of marketing of the Shiba Inu team, Lucie, has recently shared some key details regarding SHIB’s newly launched product, the SHIB OS (Operating System). In a post on the X platform, addressing the crypto community, Lucie described SHIB OS as a foundational innovation poised to secure the future of decentralized governance. As reported previously, the launch of SHIB OS was initially announced by Shytoshi Kusama, the founder of Shiba Inu, back in January. In her recent tweet, marketing lead Lucie described the SHIB OS as a “turnkey solution” designed for governments and enterprises seeking to transition from outdated centralized systems to transparent, efficient, and secure decentralized governance models. She further added that the SHIB OS is powered by Shiba Inu’s layer-2 platform Shibarium that guarantees immutability, reliability, and security. This robust foundation enables trustless decision-making and streamlined operations, making it a cutting-edge tool for decentralized governance. SHIB OS, the latest innovation of the Shiba Inu, would provide governments and enterprises with tools to enhance operations through its censorship-resistant infrastructure. Furthermore, its operating system allows for decentralized identity management and data storage while streamlining processes, reducing bureaucracy, and increasing efficiency. Additionally, some of the key features of the SHIB OS include treasury management, transparent voting systems, robust data security for sensitive applications, and cross-chain compatibility. Furthermore, governments can also leverage this platform to ensure spending transparency, secure voting processes, and digital identity integration. On the other hand, enterprises can leverage SHIB OS to enhance supply chain transparency, access decentralized marketplaces, and improve regulatory compliance. Furthermore, non-profits can use SHIB OS to offer transparency in donation allocation, while financial institutions benefit from secure data-sharing mechanisms. This development marks another step in Shiba Inu’s evolution, moving beyond its “meme coin” image to establish itself as a provider of innovative blockchain solutions in the cryptocurrency ecosystem. Amid the broader crypto market correction, Shiba Inu has also faced selling pressure, correcting 23% over the past month. Currently, the SHIB price has been flirting around $0.00001250, with some market analysts eyeing a major catalyst ahead, as per our previous analysis . In related news, the SHIB burn rate, a key metric tied to Shibarium, has seen a moderate uptick, increasing by 123% over the past 24 hours. While the total amount of SHIB destroyed wasn’t massive, it was still notable, with 1,816,326 SHIB permanently removed from circulation. This burn occurred across two transactions, one of which sent 1,000,000 SHIB to a dead wallet.