Edward Snowden Cautions Against Investing in Shiba Inu
The era of dog-themed meme coins has arrived, as two of the major projects in this area solidify their positions among the top ten projects in the world. While it comes to university payments, Elon Musk is promoting his favorite joke token Dogecoin once again. Meanwhile, Edward Snowden is advising investors to avoid trash currencies when trading with members of the Shiba Army.
Musk has never shied away from publicly promoting his favorite project or his company (pun fully intended). He is one of the primary reasons Dogecoin has acquired widespread acceptance, and he has even attracted the attention of several other celebrities who have jumped on board with the new cryptocurrency craze.
Musk, who is now more than twice as wealthy as Bill Gates, said on October 29 that he intends to establish a university in the state of Texas. Using Twitter, he announced that the new institution will be known as the Texas Institute of Technology and Science.
And just yesterday, the “Imperator of Mars” declared that his favorite currency will play a crucial role in his intentions to attend university. According to him, tuition will be paid in Doge, and students who own a dog would get a discount on their tuition.
With most institutions in the United States having upwards of 25,000 students, this would significantly increase the use of the meme currency. The exposure would be even more significant as DOGE progresses from being a purely symbolic token to one that has real-world use in the near future.
Despite the endorsement from Tesla CEO Elon Musk, Dogecoin only gained 6 percent in the last 24 hours. It is now trading at $0.27 and has a market capitalization of $36.3, making it the tenth-largest cryptocurrency by market capitalization. Its trading volume, on the other hand, is much bigger than that of Binance Coin, XRP, Solana, and Cardano.
Am thinking of starting new university:
Texas Institute of Technology & Science
— Elon Musk (@elonmusk) October 29, 2021
Snowden, on the other hand, isn’t really taken by the meme coins, nor is he amused by the publicity they’ve gotten so far this year. The former CIA and NSA contractor, who is best known as the whistleblower who exposed the National Security Agency’s vast monitoring techniques, recently slammed “trash coins” on Twitter, particularly when they are preferred by investors, according to his followers.
People can buy any garbage they want and I’m okay with it. The problem is when they get emotionally manipulated into mortgaging the farm based on a meme’s worth of understanding.
If you want to drop some Happy Meals on lottery tickets, knock yourself out. But not the rent money.
— Edward Snowden (@Snowden) October 31, 2021
He didn’t hold back, ripping into the Shiba Inu and just stopping short of calling it out by name in the process. In the event that you were persuaded into swapping your hard-earned assets for some new dog money because a meme promised you’d become wealthy, please carefully examine your chances of outsmarting a market that sold you its share in *not even dog money, but a CLONE of dog money*.”
In line with expectations, the Shiba Army sprang to the defense of their favorite cryptocurrency, pointing out that every token has value because people think it does, regardless of whether it’s Bitcoin, Ethereum, Dogecoin, or Shiba Inu is being discussed.
Snowden, who is now the head of the Freedom of the Press Foundation, was quick to voice his opposition to the meme coins and communicated with multiple individuals about why he believes they should be banned. Mr. Bush was particularly scathing of those who put money into “trash coins” that they can’t stand the risk of losing.