SHIB recently announced plans to launch its very own decentralized autonomous organization designed to grant its vast community more power to participate in governance initiatives regardless of how many SHIB tokens they hold. The initiative aims to devolve the power concentrated in the hands of whales to give all holders a stake in dictating its future, increasing the SHIB ecosystem’s decentralization. However, the announcement failed to translate to tangible token price increases as SHIB continues to trade at August 22 levels. SHIB is losing ground to new memecoins and projects like Rollblock that offer significantly higher growth upside, recording a 14.4% loss in the past month.
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El Salvador will receive $1.6 billion in infrastructure investment for the future tax-free zone Bitcoin City. The government said it raised funds from Turkish holding company Yilport to modernize and build two seaports in El Salvador, which would be the largest private investment in the country's history, Decrypt writes. One of the sites is the Acajutla seaport, which handles most of Peru's coffee, sugar, and balsamic salt exports, and the other is the inactive La Union seaport, located where Bitcoin City is planned to be built. The construction of Bitcoin City was announced in November 2021, presenting the initiative as a tax-free city funded by mining the main cryptocurrency. The data centers where the mining rigs will be located are planned to be powered by electricity extracted from regional volcanoes, rather than the local civil power grid.
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The cryptocurrency community has quickly reacted to the news of the crypto emoji removals, with many industry advocates expressing sadness about the missing emojis. Some observers speculated that Bitcoin emoji removals from X could negatively impact the Bitcoin price. The removals were not exclusive to BTC though. Other coins like Crypto.com Coin CRO tickers down $0.09 and BNB BNB tickers down $577 have also seen their hashtags deleted from X after being adopted in 2020. As previously reported, X co-founder Jack Dorsey officially debuted the Bitcoin emoji in February 2020. At the time, Bitcoin was trading at around $10,000, according to data from CoinGecko. The crypto community is especially puzzled by the removal of crypto emojis on X, which happened just as the Bitcoin 2024 conference began in Nashville on July 25.
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