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Breaking News: Bitcoin Reaches $93,000 Amid Renewed Optimism: What To Keep An Eye On This Week
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Breaking News: Bitcoin Reaches $93,000 Amid Renewed Optimism: What To Keep An Eye On This Week

Shiba Inu Earns Recognition For Charitable Contributions – Impact On Price

Christian Encila
Christian Encila
Last Updated: October 9, 2024 8:00 am
3 mins read
Shiba Inu

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Shiba Inu (SHIB) was announced by a prominent crypto personality as the most donated meme coin as these type of coins continue to grow in importance for charitable causes. This kind of recognition shows how these digital assets can benefit communities and gain business traction.

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Shiba Inu: On Praise & Performance

Meme coin projects have earned praise from Ethereum co-founder Vitalik Buterin for donating a percentage of their token supply to charity. He thanked the projects and efforts dedicated to this cause in a post on X. Some “meme coins” were used as examples, including “ebull,” among well-known cryptocurrencies contributing to various charities.

I appreciate all the memecoins that donate portions of their supply directly to charity.

(eg. I saw ebull sent a bunch to various groups last month)

Anything that gets sent to me gets donated to charity too (thanks moodeng! The 10B from today is going to anti-airborne-disease…

— vitalik.eth (@VitalikButerin) October 7, 2024

SHIB market cap currently at $10.1 billion. Chart: TradingView

Support & Dedication

Based on comments made by Buterin, Shiba Inu community members have claimed that among meme coins, SHIB leads in charity gifts. According to crypto expert Del Crxpto, no other meme coin can even emulate Shiba Inu’s level of philanthropy. For example, several donations, including to the recent Seungil Hope Foundation in Seoul, Korea which supports the country’s first specialized ALS hospital, reflect this growing dedication to giving.

$SHIB is #1 in this regard…

No one else comes close. https://t.co/PgnMvn8PYx

— Del Crxpto (@DelCrxpto) October 7, 2024

Analyst Sees SHIB Uptrend

In related news, with good breakout and backtest signs in the very vibrant meme coin space, technical analyst Charting Guy has predicted a possible price spike for Shiba Inu. The market of meme coin prospers today; some of them are reaching all-time highs, while others display solid price rise.

$SHIB

breakout✅

backtest✅

full send loading.. 📶 https://t.co/6EaZJlT0sD pic.twitter.com/9yZVVyeIM4

— Charting Guy (@ChartingGuy) October 7, 2024

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Meme Coin In Negative Region

Shiba Inu was up 3.34% at the time of writing, trading at $0.00001793, but the weekly performance remained in negative territory cumulatively.

Charting Guy thinks the dog-themed meme coin is likely to have a major price pump even if the price action has been disappointing lately. Shiba Inu is in the last waiting period, he pointed out, and expected to show a significant upside.

Featured image from United Mission for Relief & Development, chart from TradingView

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Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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