Coinbase on the defensive about these bitcoin ordinal centralized meme coins

[CODE200]

stop believing the fake market cap and volume numbers

if i shuffled a bunch of bank notes from my own left hand to my own right hand. i can shw that $1m passed between my hands even if there are only $1000 in total

the MEME MARKET IS FAKE. its the creators selling to themselves to fix/rig/fake a price hoping idiots later on buy from them ..

As much as we like to believe that, there's a lot of people that don't believe that and they still think that these meme coins are their way of making something big for themselves, a lot of these people are so ingrained with the FOMO from Dogecoin that they're going to buy all the other meme coins out there in hopes that it's going to be the next Dogecoin without any regard from the fact that it's probably just some small group that are creating these meme coins from time to time to entice those suckers for more of their money, definitely there's a rigging in meme coins but people don't learn or they're ignoring it altogether because they want to believe in the impossible.

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[rdbase]

Ordinals/NFTs are just a waste of time and space.

Never got into them and never will
If theres anything thats a rugpull scam in this world, its NFT's

The way people have been perceiving this recent massive pump have made those same individuals to make a 180.
Anything to do with cryptocurrency has been pumping along with bitcoin, including NFTs and memecoins.

Just have a look at this post on X which makes sense of the recent increase of the cryptocurrency market:

[Reid]

@rdbase You are right, this NFT's and Ordinals are really the beneficiaries of this Bitcoin surge and it's a fact. Altcoins have also experienced it so why not with Ordinals too. I am not a big supporter of such projects because it creates heavy traffic in the blockchain but we cannot deny that they will also be pulled up by the recent market surge of Bitcoin.

Here is some news about another Ordinal.
Bitcoin Dogs set to make history with first ever ICO on Bitcoin blockchain
https://cointelegraph.com/press-releases/bitcoin-dogs-set-to-make-history-with-first-ever-ico-on-bitcoin-blockchain?fbclid=IwAR3T0f_X_zlCTAUaACEuuedDVWZYuu5Am8L33ZAnoal1Sno-9l5wOuw0O28

Bitcoin Dogs is set to be part of cryptocurrency history with the first ever ICO on the Bitcoin blockchain, launching on February 14th, 2024.

An ICO in the Bitcoin blockchain. I am amazed despite being against it. There's so much happening in the Bitcoin market today that most investors would rather just buy Bitcoin and be lazy.
But an ICO in this era? It could work since maybe investors did miss this kind of projects but there will still be doubts just like how the ICO's in the Ethereum chain was challenged due to the fact that it became a home of scammers.

[rdbase]

@Reid
As I see it, better to have an active blockchain than one which is not used and so forth a dead one.
Have seen this happen where there is absolutely no traffic and this would mean the project to be viewed as dead.
Interesting how bitcoindogs would be running an ICO as these would be very much outlawed from what happened during that era with ethereum projects, as you had mentioned.
If they think this would bring more attention to what their offering is, then we will just have to see what transpires from having them run one.

[rdbase]

Also talking about dogs in the cryptocurrency markets, there was a sudden increase to most of the popular memecoins which came from the somewhat successful of it's predecessor dogecoin yesterday of upto 440%.

Noteable of such a pump up in it's price was Shiba Inu.
Before it came crashing down by 50% during Asia trading commenced ahead of America's rally up passing 360% the day prior.

Here is the article from CoinDesk about the coin which stood out from it's counterparts in this 24 hour pump:

"Shiba Inu (SHIB) prices briefly fell 50% on U.S. exchange Coinbase (COIN) in early Asia morning hours on Tuesday before returning to normal in an unusual move.
SHIB slipped from $0.000044 to $0.000022 on Coinbase amid a bitcoin (BTC)-led sell-off among major tokens. Prices fell to an average of $0.000036 on other exchanges, such as Bybit and Kraken, marking the Coinbase drop as an anomaly.
Such drops usually occur when a sell order exceeds the available market depth – or liquidity at any given point on a certain exchange. As of European morning hours, SHIB has a market depth of $1.2 million on Coinbase."
source:  https://www.coindesk.com/markets/2024/03/05/shiba-inu-prices-briefly-dropped-50-on-coinbase

[rdbase]

After listings on the exchange platform, these memecoins and gaming coins see an increase of their market price shoot-up considerably:
https://www.fxstreet.com/cryptocurrencies/news/dogecoin-soars-nearly-20-after-coinbase-announces-listing-of-doge-derivatives-202403211237
https://dailyhodl.com/2024/03/21/ethereum-based-gaming-altcoin-leaps-after-coinbase-listing-announcement

For those who believe in serious cryptocurrencies you would be hearing about a Dogecoin Futures market.
But here we are.

[Reid]

Holy crap!
Base TVL doubles in a month as pundits tip memecoins to drive adoption
https://cointelegraph.com/news/coinbase-network-base-tvl-doubles-month-memecoins-drive-adoption?fbclid=IwAR2vNWi9eNfPr2WKP4bv2vIGbsF8WBJPzDvE7gPtkk369s4S8a7e90LQuy0

It took 203 days for Coinbase’s Base network to notch $1 billion in total value locked but only 25 days to reach $2 billion

What the heck did I just read.

Ethereum layer-2 network Base’s total value locked (TVL) has doubled in less than a month, reaching $2.13 billion, while commentators say it could become the next epicenter for memecoins.

“There are going to be several billion dollar memecoins on base that will get an easy listing on Coinbase and goto all the normies,” said X user Wizard Of SoHo to his 97,000 followers.

Is this really the thing now? Memecoins?
It's a crazy year and I think they are messing in the wrong side. Just my two cents.

[rdbase]

^^
You know the top is in when the cat memecoins are outdoing the dog ones!
Think I saw catbatman coin so you knew the top of the market has already been met then the cryptomarket dumped hard yesterday.

As for bitcoin ordinals after this announcement today it would seem Coinbase will have no other choice but to give in to the memecoin craze on the bitcoin blockchain now:

https://twitter.com/BitcoinMagazine/status/1775807593954398615

[rdbase]

stop believing the fake market cap and volume numbers

if i shuffled a bunch of bank notes from my own left hand to my own right hand. i can shw that $1m passed between my hands even if there are only $1000 in total

the MEME MARKET IS FAKE. its the creators selling to themselves to fix/rig/fake a price hoping idiots later on buy from them ..

As much as we like to believe that, there's a lot of people that don't believe that and they still think that these meme coins are their way of making something big for themselves, a lot of these people are so ingrained with the FOMO from Dogecoin that they're going to buy all the other meme coins out there in hopes that it's going to be the next Dogecoin without any regard from the fact that it's probably just some small group that are creating these meme coins from time to time to entice those suckers for more of their money, definitely there's a rigging in meme coins but people don't learn or they're ignoring it altogether because they want to believe in the impossible.

Would you believe this now over a month later from you assumption of this market?
Bitcoin is coming to it's all time high once again at $73,700. Reaching $72,500 this morning from the weekend.

There is the biggest increase for a dog meme coin which has been pumped from it's announcement for it to be on the sphere in Las Vegas three weeks ago from a crowd funded project just at the beginning of the year:
https://cointelegraph.com/news/dogwifhat-price-hits-record-high-las-vegas-sphere-crowdfund
Even Cryptobanter had a feature on their cryptochannel when it was crowdfunding.
https://www.youtube.com/watch?v=RRcc-MHVrNo

It's price has reached $4.20usd as it's all time high this morning:


The bitcoin halving is scheduled to drop on 4/20 of this month.
So see this as you will. If it does, you will certainly see the former ceo of X post about it like he has in the past.

[rdbase]

Some news on the lawsuit from the SEC on Coinbase was released the other day so it would be interesting to see how this affects their business structure going forward as this won't be any issue towards their own blockchain project and actually would bolster it's use case:
https://cointelegraph.com/news/coinbase-cleared-in-lawsuit-over-crypto-transactions

[rdbase]

Some rather interesting news concerning the halving and ordinals on the bitcoin blockchain.

source: https://www.coindesk.com/consensus-magazine/2024/04/15/bitcoin-halving-has-crypto-miners-racing-for-epic-sat-potentially-worth-millions

$50 million dollars for this sat? Even if they call it the epic sat I can not see it being worth this much.
Now the genesis block. Well that is another matter since bitcoin's value increased several thousand fold since it's inception.