What does Changpeng Zhao’s optimism for the future of cryptocurrencies mean for Big Eyes Coin and Dogecoin?
The collapse of the cryptocurrency exchange FTX and the sinister disclosures that followed have recently rocked the cryptocurrency industry to its very foundation. Binance co-founder and CEO Changpeng Zhao withdrew from an attempt to save FTX after realizing that it would be too difficult as accusations and complexities poured in.
The effects of FTX’s demise were felt widely, and the biggest cryptocurrency, Bitcoin (BTC), dropped to a two-year low of 16K. Changpeng Zhao is still optimistic about the future of cryptocurrencies, despite the negative effects and the ensuing crypto doom. In light of the current economic unpredictability and volatility, Zhao has stated in public that cryptocurrency is “the only steady thing.”
Post-crash, everyone’s spirits are being lifted by Changpeng Zhao’s upbeat public demeanor and ongoing support of cryptocurrencies. Additionally, the market does seem to be stabilizing; at the time of writing, Dogecoin (DOGE), Bitcoin (BTC), and Ethereum (ETH) are all rising.
Could the future of meme coins like Dogecoin and Big Eyes Coin (BIG) be impacted by Zhao’s optimism? Let’s examine what Zhao’s optimism might mean for both existing and new meme coins.
What might Changpeng Zhao’s support for Dogecoin accomplish?
Could Changpeng Zhao’s public support for cryptocurrencies bring Dogecoin back to its pre-crash price?
Prior to the demise of FTX, Dogecoin’s price had been skyrocketing, climbing 160% to a monthly high of $0.1554 on November 1st. This price increase has been attributed to Elon Musk’s acquisition of Twitter and the hope that the crypto enthusiast and backer of Dogecoin could incorporate Dogecoin into the workings of Twitter itself.
Due to this rise in price, Dogecoin’s value was insulated from the cryptocurrency crisis, and it is currently showing signs of recovery. But in light of Changpeng Zhao’s support for cryptocurrencies, can it bounce back and reach $0.1554 once more?
Dogecoin will undoubtedly benefit from Zhao’s ongoing public support of the industry’s future, particularly in the wake of the recent crypto crash. The question of whether Elon Musk integrates Dogecoin into Twitter or another project will determine whether Dogecoin returns to its prior heights.
Could Big Eyes Coin benefit from Changpeng Zhao’s optimism?
Zhao’s ongoing advocacy for the future of cryptocurrency is also likely to benefit the cat-themed meme coin Big Eyes Coin. The Big Eyes Coin, a newcomer to the cryptocurrency market, is doing well in its presale stages right now, having raised over $10 million in its sixth presale alone. Let’s examine why Changpeng Zhao’s publicity will likely be good for this meme coin.
For a few months now, Big Eyes Coin’s presale has been picking up steam. The Big Eyes presale has continued to grow, most recently launching a publicity stunt in New York City’s Times Square that expanded its reach internationally.
Because Big Eyes Coin is a newcomer to the cryptocurrency market and its presale is impressing the wider market at a time when much of the news regarding cryptocurrencies is negative, this meme coin is well-positioned to benefit from the positive crypto vibes that Changpeng Zhao is spreading. Like Changpeng Zhao, the Big Eyes presale provides investors with a positive and environmentally conscious cryptocurrency with a high return on investment.
The continued public endorsement of the future of cryptocurrencies by Changpeng Zhao is likely to have a positive indirect effect on both Big Eyes Coin and Dogecoin. Which cryptocurrencies survive the bear market and emerge on the other side will depend on their capacity to adapt and take advantage of every opportunity. The future of cryptocurrency is likely to usher in more regulations and transparency. Alongside Elon Musk, Dogecoin is already utilizing every opportunity to expand and discover new use cases. Despite the crash, the Big Eyes Coin presale is thriving and isn’t holding back on spreading the word.