POKKET: Crypto Market Update (July 2)
Bitcoin is -4.5% to $33200, ETH is -7.2% to $2100. Movers are OXT +19%, STMX +15%, POWR POLY +14%, DENT -10%.
Space Karen tweets more about nonsense, this time about ‘baby Doge’ with parody lyrics to the infamous song ‘baby Shark’, and pumping other useless information out. These days it is profitable to buy a shitcoin named after his tweets, for example ‘baby Doge’ and dump it soon after, as scammers are extremely quick to create a memecoin post-tweet. Although, many have noticed irregular movements on DOGE itself, pre- and post- shitposts from Musk; signs of front running and dumping in minutes surrounding the tweet.
In Robinhood’s S1, the company shows it is hodling $11.6B in crypto, and also warns its crypto business is heavily reliant on DOGE. Worth noting they paid an ex-SEC executive $30M for expertise, but we all knew this kind of stuff goes on anyway.
Also what got burried in shitposts was the fact Steve Cohen and George Soros are warming to Bitcoin – which might not be a good thing considering their track records.
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