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<ul><li>Shiba Inu and other meme-based cryptos have always been questioned for authenticity.</li><li>Shiba’s price is expected to fall to nearly zero by 2030, but big drops should begin soon, experts said.</li><li>The price of Shiba Inu is expected to drop to $0.000018750 by the end of the year, according to a report by Finder.</li></ul>After the crash of cryptocurrency Luna this month, meme-based token <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=article-editorial">Shiba Inu </a>might be the next to go. At least that’s what a group of experts surveyed by crypto research firm, Finder, seem to think. “Things are not looking good for the meme coin Shiba Inu, with our panel expecting it to be worth $0.000018750 by the end of 2022. This would mark a 7.6% drop in its value from its current price of $0.00002029,” the company said in its latest price prediction report, originally <a href="https://www.finder.com/shiba-inu-price-prediction">published</a> on May 10. The report further said that its group of 36 experts expected Shiba Inu’s value to “plummet” and close at $0.000002500 in 2025 and $0.000000325 by 2030-end. To be sure, Finder’s values don’t predict if the token can see a surge in-between, which means that short-term traders may still make profits as it falls to zero. <cmsannotation type="cmsannotation" annotationid="The Luna warning" comment="subhead" text="The Luna warning">The Luna warning</cmsannotation> That said, the crash of stablecoin UST and Luna, the two tokens of the Terra blockchain network, would serve as a reminder for retail traders. In a report on the downfall of Luna <a href="https://www.nytimes.com/2022/05/18/technology/terra-luna-cryptocurrency-do-kwon.html">yesterday</a>, the New York Times pointed out that most of the losses in Luna’s meteoric fall were borne by retail investors, many of whom lost their life savings as the token wiped off $40 billion from the crypto market. While Luna’s fall was a result of a flawed ecosystem design, Shiba Inu’s fall will be a result of market maturity and the realisation that memecoins can’t yield serious results, the finder experts said. "This market is maturing and things like SHIB will die as capital begins to flow to quality and value rather than being scattered across the field in the hope that every player wins a prize. That's not how things work. Hype dies, value rises,” the report quotes Matthew Harry, the head of funds at DigitalX Asset Management, as saying. <cmsannotation type="cmsannotation" annotationid="Not the first memecoin warning" comment="subhead" text="Not the first memecoin warning">Not the first memecoin warning</cmsannotation> To be sure, Shiba Inu isn’t the only coin that investors are being warned of. Neither is it the first time that such warnings have been issued. Like Shiba, experts have often warned investors that Dogecoin could go the way of the dodo any day. The price of DOGE was pegged at around $0.08 at the time of writing, by Coinmarketcap. The coin’s price had jumped to around 16 cents after the news that Tesla CEO Elon Musk was going to buy Twitter but quickly fell to 13 cents in a matter of days after that. “I am of the opinion that all these joke-type coins will disappear and leave space for actual innovation and crypto assets that can serve proper use cases,” Dimitrios Salampasis, a fintech lecturer at the Swinburne University of Technology, told Finder.

After Luna, Shiba Inu may be the next memecoin to go bust, according to experts

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Germany has shut down the Russian illegal darknet marketplace called 'Hydra Market', confiscating 543 Bitcoins with a total value of around $25.2 million. The authorities shut down the server infrastructure for Hydra which is a huge marketplace on Dark Web for drugs, stolen credit card information and other illegal goods. "Among other things, there is a suspicion of the commercial operation of criminal trading platforms on the Internet, the commercial procurement or granting of an opportunity for the unauthorised purchase or the unauthorised sale of narcotics as well as commercial money laundering," said Germany's Central Office for Combating Cybercrime (ZIT) and Federal Crime Police Office (BKA). The illegal marketplace had been accessible via the Tor network since at least 2015. "Their focus was on trading in illegal narcotics. In addition, data spied out worldwide, forged documents and digital services were offered profitably via the platform," the BKA said in a statement late on Tuesday. Around 17 million customers and over 19,000 seller accounts were registered on the marketplace. According to ZIT and BKA estimates, "Hydra Market" was probably the illegal marketplace with the highest turnover worldwide." "In particular, the Bitcoin Bank Mixer, a service for obfuscating digital transactions provided by the platform, made crypto investigations extremely difficult for law enforcement agencies," said the German authorities. Cryptocurrency investigation firm Chainanalysis recently found $200 million in stolen cryptocurrency on the platform in 2021 and early 2022. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/best-performing-cryptocurrencies-in-2022/articleshow/90679104.cms">Best performing cryptocurrencies in 2022 so far</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/top-10-companies-to-grow-your-career-in-india-according-to-linkedin/slidelist/90678902.cms">Top 10 companies to grow your career in India according to Linkedin</a>

Germany seizes $25 million in bitcoin by shutting down illegal darknet marketplace 'Hydra Market'

<ul><li>Crypto investors around the world are also looking for more educational resources for investing in digital assets.</li><li>India, Brazil, and Hong Kong had the most first-time investors around the world.</li><li>More women are investing in cryptocurrencies than ever before.</li></ul>India is amongst the top three countries where crypto adoption has skyrocketed over the last three months. According to a <a href="https://www.gemini.com/state-of-crypto">report</a> by crypto exchange Gemini, over 54% of respondents from India were first-time investors in cryptocurrencies over the past year. The country ranked ahead of Brazil and Hong Kong, each of which had 51% of respondents saying they were first-time investors over the past year. The company surveyed about 30,000 individuals in 20 countries between November 2021 and February 2021, which includes 1706 respondents from India, 1700 from Brazil, and 1105 from Hong Kong. <cmsannotation type="cmsannotation" annotationid="wazirx" comment="wazirx" text="wazirx">wazirx</cmsannotation> Further, the report also said that 41% of all respondents across the world were “crypto curious”. These are people “who do not currently own crypto, but are either interested in learning more or say they are likely to acquire cryptocurrency in the next year”, the report said. “Compared to other regions, nations in Europe had a high number of crypto-curious respondents. Ireland led among the crypto-curious with 58% saying they are interested in learning more about crypto or purchasing crypto in the coming year,” the report said. Perhaps an even more interesting nugget is that 47% of the respondents who planned to buy crypto for the first time in the next year were women. And amongst these respondents, “at least half” of the women were from developing nations like Israel, Indonesia, and Nigeria. “Conversely, in developed countries and regions, only a third of current crypto owners are women, including in the United States (32%), Europe (33%), and Australia (27%), said the report. Additionally, the report noted that users are more likely to seek education about cryptocurrencies now. 40% of the respondents globally said that more educational resources on cryptocurrency would help them get started in the industry; a stark difference from yesteryears when users were investing in crypto based on recommendations from friends. Only 22% of the respondents said they would take advice from friends for investing in crypto. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/bollywood-fans-can-now-look-like-salman-khan-in-the-metaverse-with-chulbul-pandey-nft/articleshow/90662267.cms">Bollywood fans can now look like Salman Khan in the metaverse with Chulbul Pandey NFT</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/news/nasa-telescope-uses-moonlight-to-improve-satellite-accuracy/articleshow/90657804.cms">NASA telescope uses moonlight to improve satellite accuracy</a>

India leads in the total number of first-time crypto investors in the last three months, according to a new report

Twitter shares surged nearly 28 per cent on Monday after regulatory filings in the US revealed that Tesla and SpaceX CEO Elon Musk has a 9.2 per cent passive stake in Parag Agrawal-run platform. According to a regulatory filing in the US Securities and Exchange Commission (SEC) in the US, the world's richest man, with over 80 million followers on Twitter, bought nearly 73.5 million shares in the micro-blogging platform. Last month, Musk said he is considering building a new social media platform. "Am giving serious thought to this," he wrote on the micro-blogging site in a reply to a user. Musk has been a vocal critic of social media platforms, including Twitter. In a Twitter poll, Musk had asked: "do you believe Twitter rigorously adheres to this principle?" and at least "70 per cent" of respondents said "no". "Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy. What should be done?" Musk wrote in a response to the poll result. He also asked users "is a new platform needed?" Musk's legal skirmish with the US SEC also continues. Musk is currently looking to throw out his 2018 agreement with the SEC, which requires him to get pre-approval for tweets that are of material importance to Tesla. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/budget2016/manufacturing/auto/volkswagen-reveals-polo-legend-edition-in-india-price-specifications-and-features/slidelist/90640679.cms">Volkswagen reveals Polo Legend Edition in India — Price, specifications and features</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/analysts-suggest-buying-hdfc-bank-shares-on-every-dip-as-merger-to-strengthen-housing-loan-portfolio/articleshow/90640153.cms">Analysts suggest buying HDFC Bank shares on every dip as merger to strengthen housing loan portfolio</a>

Twitter shares soar 28% as an SEC filing revealed that Tesla boss Elon Musk holds a 9.2% passive stake

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<ul><li> Will Smith slaps Chris Rock at the 94th Academy Awards.</li><li>Jada Smith has reportedly been suffering from Alopecia Areata.</li><li>Hollywood and Twitter react to the incident in hilarious ways.</li></ul>In an unexpected turn of events, Hollywood actor Will Smith slapped comedian and Oscar presenter Chris Rock at the 94th Academy Awards ceremony in Los Angeles. When Rock walked onto the stage to present the Oscar for the Best Documentary Feature, he poked fun at Will Smith’s wife Jada Pinkett Smith's current look, her shaved head. “GI Joe 2, can’t wait to see it”, he said. While the joke did manage to crack a few laughs at first, within no time Will, who goes by his stage name ‘The Fresh Prince’, stormed and smacked Rock in his face. “Keep my wife’s name out of your f***king mouth”, he blared while walking back to his seat. A Twitter user pulled up a comic version of the act. <div type="twitter" handle="Itssan17" handlename="𝗚𝗲𝗿𝗮𝗹𝘁 of SnyderVerse" image="http://pbs.twimg.com/profile_images/1495379989146988544/4gAygVRu_normal.jpg" favoritecount="1865" retweetcount="276" status="Lmao Will Smith recreated the best version of this meme 😭 https://t.co/rSI021TKBP" createdat="1648447865000" id="1508325784649273346"></div> Another Twitter user went beyond the road of image reactions, kudos to the internet's iceberg of creative foolery, they hand sketched and printed the incident itself. <div type="twitter" handle="lexieedoodlee" handlename="Lexie" image="http://pbs.twimg.com/profile_images/1503899884197494787/B2NlMOyl_normal.jpg" favoritecount="788" retweetcount="164" status="FREE WILL #2k23 #hesinnocent https://t.co/Hk4vbfht9N" createdat="1648441318000" id="1508298325434507264"></div> The night has been welcomed with a myriad of reactions from all over the world. Jaden Smith, son of Will Smith, took to twitter and applauded his father’s impulse. “And that’s how we do it”, he said. <div type="twitter" handle="jaden" handlename="Jaden" image="http://pbs.twimg.com/profile_images/1506334655708082178/iR7ai9K1_normal.jpg" favoritecount="368553" retweetcount="59008" status="And That’s How We Do It" createdat="1648440700000" id="1508295733551632389"></div> Alternatively American actor and activist Sophia Bush expressed her disregard for the act, but also justified Smith’s reaction to the constant ridicule of his wife. <div type="twitter" handle="SophiaBush" handlename="Sophia Bush" image="http://pbs.twimg.com/profile_images/1471540034486640647/oPEqO77X_normal.jpg" favoritecount="20180" retweetcount="2782" status="Violence isn’t ok. Assault is never the answer. Also? This is the 2nd time that Chris has made fun of Jada on the… https://t.co/ZMNu75p1SA" createdat="1648438103000" id="1508284843574108173"></div> Jada Smith, has reportedly been suffering from Alopecia Areata, an autoimmune disorder, which causes hair loss. Following the bizarre altercation between Rock and Will Smith at the event, Twitterati and Instagrammers have been posting in support of Will Smith along with individuals who suffer from Alopecia themselves. <div type="twitter" handle="RadiantG_" handlename="Radiant G!🌈 @ GDC Speaker" image="http://pbs.twimg.com/profile_images/1204498596755841024/RbJBUM65_normal.jpg" favoritecount="25067" retweetcount="11261" status="I know everyone is talking about the Will Smith and Chris Rock punch at The Oscars. I would rather use this moment… https://t.co/c1eS9f6lCn" createdat="1648438814000" id="1508287825090736132"></div> Presenter P Diddy ironed the tension out by asking the two celebrities to move on. “Will, Chris, we're gonna solve that like a family at the gold party. For now, we will move on with love,” he said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/oscars-2022-coda-wins-best-picture-will-smith-and-jessica-chastain-bag-best-actor-awards/slidelist/90486337.cms">Oscars 2022: CODA wins best picture, Will Smith and Jessica Chastain bag best actor awards</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/whatsapp-is-testing-increasing-file-size-limit-from-100mb-to-2gb/articleshow/90487646.cms">You might soon be able to send up to 2GB of files on WhatsApp</a>

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