CoinMENA, a Sharia-compliant digital assets platform, has hinted at its next potential listing in a recent tweet. The platform dropped a cryptic clue, stating that it would add support for a canine-themed cryptocurrency that Elon Musk doesn't tweet about. This has sparked speculation that Shiba Inu might be the next digital asset featured on CoinMENA's platform.

Shiba Inu and Dogecoin both experienced drops in value as a result of Elon Musk's announcement that he has found a new CEO for Twitter. Shiba Inu hit a five-month low and Dogecoin neared a multi-month low. The sell-off caused Shiba Inu to approach its weakest point since January, but the oversold territory of the relative strength index suggests a potential reversal. Dogecoin also bounced back after hitting a low of $0.06957, with traders buying the dip and potentially setting a hard floor.

According to data from IntoTheBlock, 81% of Shiba Inu (SHIB) investors are currently in the red, as the meme coin has failed to replicate the bull market seen in other major cryptocurrencies like Bitcoin and Ethereum this year. The summary of six on-chain and exchange signals is mostly bearish, with four bearish, one neutral, and only one bullish. Shiba Inu's losses have been cascading in recent days, and it is currently testing a key uptrend that has been offering long-term support since September 2021. As Shiba Inu craters, another meme coin called No Meme Token (NOMEME) is also seeing a substantial price decline.

Linda Yaccarino has been named the new CEO of Twitter, with Elon Musk extending his welcome to her. Yaccarino is known to be a supporter of meme coins such as Dogecoin and Shiba Inu, and the crypto community is curious about her stance on Musk's advocacy of Dogecoin. Yaccarino will oversee business operations, while Musk will take on the roles of executive Chair and CTO. Yaccarino is also the Chair of the Advertising Council's Board of Directors and a member of the World Economic Forum's Media, Entertainment, and Culture Industry Governors Steering Committee.

The cryptocurrency market has experienced a downturn, resulting in a $40 billion decrease in the global crypto market cap. Bitcoin has been leading the trend, dropping below its recent floor of $27,000 to its current price of $26,300. Most of the cryptocurrencies in the top 10 by market cap have decreased by around 6% over the last seven days, while memecoins like pepe and shiba inu have seen even more significant drops. Meanwhile, the wider markets remain largely unchanged.

UQUID, the world's first Smart Shopping Market on Web3 and Metaverse, has announced that SHIB tokens are now accepted for mobile top-ups and other e-commerce services. This integration will allow SHIB token holders to use their tokens to top up airtime on their phones, shop online, and explore the upcoming SHIB metaverse. The community of passionate SHIB supporters, SHIBARMY, is excited about this new development, given that adding SHIB to UQUID's payment options is a major step forward for Shiba Inu. Additionally, Nuxgame has integrated CoinPayments' crypto payment gateway to allow users to make payments with SHIB, tapping into the rapidly growing crypto market and attracting a new generation of gamers who prefer digital assets like SHIB for transactions.

Bybit, a leading cryptocurrency exchange, has announced a giveaway of $20K USDT for users who trade Shiba Inu tokens. The giveaway campaign will end on May 18, 2023, at 11:30 AM (UTC). Users will be ranked based on their trading volume on the SHIB/USDT pair throughout the giveaway event.

Nuxgame, a gaming and betting software provider, has integrated CoinPayments' advanced crypto payment gateway, allowing users to make payments with Shiba Inu and other cryptocurrencies. This move is set to revolutionize the crypto and gaming industry, as Shiba Inu holders can now use the tokens to play their favorite games on the platform. CoinPayments' payment gateway provides a streamlined and secure payment process with low and fast transactions in SHIB through easy-to-use plugins, APIs, and point-of-sale (POS) interfaces. The integration enables Nuxgame to tap into the rapidly growing crypto market and attract a new generation of gamers who prefer to use digital assets for transactions.

Bone ShibaSwap, the governance token of the Shiba Inu ecosystem, is leading a poll on the Indian cryptocurrency trading platform Unocoin for the next asset to be listed. With 84.7% of the total votes, it is expected that BONE will soon be added to Unocoin's platform, making it the fourth Indian cryptocurrency exchange to support the token. Giottus, India's top-rated exchange, has already added BONE with the BONE/INR trading pair and introduced an exclusive giveaway contest for the token. The Shiba Inu community is also urging leading cryptocurrency exchanges such as Binance and KuCoin to list BONE.

Huobi Global, one of the world's largest crypto exchanges, is collaborating with the Shiba Inu Army to host a Twitter Space discussion about SHIB's journey and ecosystem. The event will feature Digarch Stan and Mazrael, two respected voices in the SHIB community, discussing a wide range of topics including the future of the crypto industry. The SHIB Army and Huobi hope to reach a wider audience and share their vision. Additionally, Swapika plans to integrate Shibarium, a Layer 2 solution of Shiba Inu, into its platform once it goes live, potentially increasing the price of SHIB.

Despite the recent struggles of the cryptocurrency industry, some assets such as Solana (SOL) and Cardano (ADA) have shown better risk-adjusted returns compared to others. According to data from crypto market analysis platform Kaiko, both Solana and Cardano have recorded the highest year-to-date risk-adjusted returns among the top altcoins by market cap, with a Sharpe ratio of above 2. On the other hand, meme-inspired digital assets like Shiba Inu (SHIB) and Dogecoin (DOGE) have shown poor risk-adjusted returns, with a Sharpe ratio below 1. However, it is important to note that all four assets, including Solana and Cardano, suffered losses in the past week.

Binance US has introduced a dollar-cost averaging feature for Shiba Inu (SHIB) fans to easily build their portfolio. Despite SHIB's recent decline in value, Binance US's new auto-buy feature allows investors to purchase the coin on a set schedule of their choosing, using the dollar-cost averaging technique. This strategy helps investors avoid market timing and benefit from long-term market growth. Additionally, over 5 billion units of SHIB have been burned in the past week, pushing the meme coin's burn rate to an astonishing 13150% and creating scarcity to potentially increase the value of the remaining token.

London-based cryptocurrency exchange Swapika has announced plans to integrate Shibarium, the Layer 2 Solution, into its service once it goes live. This move follows Swapika's recent decision to add support for all three tokens in the Shiba Inu Ecosystem, including Shiba Inu (SHIB), Bone ShibaSwap (BONE), and The Dogecoin Killer (LEASH). Shibarium is currently in its Beta Phase and has already recorded widespread adoption, with over 14.5 million wallets and 6.3 million transactions processed. The exact launch date of the Shibarium Mainnet has not been disclosed, but the Beta Phase is expected to take up to 2 to 4 months to complete.

In the past seven days, the Shiba Inu community has burned over 5.67 billion SHIB through multiple transactions, with three notable burners leading the effort. Blaze Token burned 3.7 billion SHIB through two individual transactions, while Mysterious Wallet burned a record-breaking 1.69 billion SHIB in a single transaction.

Delphi Digital newsletter writer and crypto analyst, Cryptunez, predicts that Pepe will overtake Shiba Inu as the second largest meme coin. Despite a 65% correction from its current blow-off top, Pepe's market cap needs to increase by 7x to flip Shiba Inu in market capitalization. Cryptunez believes that Shiba Inu is overvalued and an unoriginal DOGE clone, while Pepe has a low market cap and maximum supply of 420 trillion, making it an enticing investment. Cryptunez expects Pepe to flip Shiba Inu within a year.

On-chain analyst LookOnChain has identified prominent cryptocurrency investors, known as "whales," who were early adopters of meme coins such as Shiba Inu and PEPE. LookOnChain has highlighted three SmartMoney wallet addresses that invested early before the bull run. These whales are believed to have a good understanding of the market and make efficient investment decisions. Meanwhile, the price of PEPE has declined after making significant waves in the crypto industry over the past week.

Over 13.81 million Shiba Inu (SHIB) were burned in the past 24 hours, with 10.45 million burned by a single wallet, SHIB Super Store. The Shiba Inu Community has burned a total of 3.98 billion SHIB through 19 transactions in the past week. The massive burn has caused the overall SHIB burn rate to increase by 131.51% over the past day. SHIB's mainstream adoption is gaining momentum, with the recent introduction of Binance Pay's WooCommerce plugin that allows over 40% of websites to accept SHIB as payment. The Shiba Inu team is also in talks with Huobi and Certik to launch a dedicated cold wallet for the SHIB ecosystem.

PEPE, the popular memecoin, recently made a major milestone by getting listed on Binance. However, the accompanying price plunge following the listing has caused significant volatility in the market. Early buyers and whales dumped their assets, causing a more than 56% drop in trading volume.

Shiba Inu is the most popular meme coin in both countries, generating 60.7% of US interest and 55.8% of India's interest in meme coins.

Binance, the world's largest cryptocurrency exchange, has announced the suspension of market order functions for selected spot and margin trading pairs, including meme coins such as Shiba Inu (SHIB), FLOKI, and PEPE, from May 7 until further notice. The "Market Order - Total" feature for selected spot and margin trading pairs will be suspended, but the manual input to "Market Order - Amount" remains available for placing market orders. The changes mostly impact meme coins such as SHIB, FLOKI, and PEPE, and the market order functions are also suspended for almost all trading pairs listed against BIDR. The restrictions are likely due to volatility and risks in trading meme coins. FLOKI and PEPE coins are trading with massive trading volume after listing on Binance, with FLOKI trading at $0.0000435 and PEPE trading at $0.00000308. SHIB price trades at $0.0000097, down 2% in the last 24 hours and 6% in a week.<br>(By&nbsp;Varinder Singh)