Shiba Inu Named Official Partner of Baseball United UAE

• According to recent information, the contender of Shiba Inu and Baseball United UAE partnered for upcoming 2024-25 events.
• Market watchers claim that the partnership came following the surging adoption of cryptocurrency globally. 
• As of writing, Dogwifhat (WIF), a treading memecoin, is trading at $1.42, with an all-time growth of 748.51%.

Memecoins came into existence as a joke, but over time, they gathered significant attention from the broader cryptocurrency market. According to available information, Dogecoin (DOGE) was the first memecoin to be introduced in 2013.

As per updates, BONK, a leading memecoin, is named the official presenting partner of a UAE-based baseball company, United. The collaboration came following the surging adoption of cryptocurrency globally. 

The partnership aims to make a lasting impact, starting with the 2024 season and extending to flagship events such as the Arab Classic and Baseball United Cup. Several crypto-based companies signed sponsorship deals with sports teams and players globally in the past few quarters to boost crypto adoption.  

Regarding sports sponsorship, FTX was known as the sponsorship king, but crypto firms lost their established image after its unprecedented collapse failure. Despite these failures, the adoption of cryptocurrencies is growing, and Bitcoin is backed by it.

Memecoins Market Overview 

According to CoinMarketCap, DOGE is one of the leading memecoins, with a market capitalization of $14,637,098,627. Shiba Inu and Pepe (PEPE) have become the most trending memecoins in 2024, with annual growth of 37.30% and 498.26%, respectively. 

SHIB is trading at $0.00001329, reflecting a weekly decline of 4.19%. The memecoin is 13th most prominent in terms of market capitalization and 30th in terms of trading volume. 

Dogwifhat (WIF), a recently debuted memecoin, has gathered massive attention from traders; when writing, its price is at $1.42, with all-time growth of 748.51%. 

It is crucial to note that WIF is the 16th most traded blockchain-based cryptocurrency. As per CoinGecko, the recorded intraday market capitalization is $38.9 Billion, with a decline of 4.0%. 

There are over 1500+ listed memecoins in the crypto market; there is speculation that Donald Trump and Elon Musk are one of the biggest favorers of memecoins. Most of the time, speculative activities were observed in the trading price and volume of Dogecoin post-Musk’s comment relating to digital currency. 

Crypto Market Price Alert 

In 2024, the market registered significant milestones, including Bitcoin, registering its all-time high in March 2024. The fear & greed index of CoinMarketCap states neutrality and the collective market cap is resting between $2.5 Trillion and $2.7 Trillion. 

In the past 24 hours, Bitcoin lost over 1.20% of its trading price despite a growth of 9.36% in the trading volume. Despite short-term declines, BTC is luring massive investors and traders, resulting in the growth of the number of addresses holding Bitcoins. 

Dozens of traditional banking and finance giants have debuted the crypto sectors, injecting billions of dollars into supporting the growth of digital currencies. In 2024, Grayscale launched investment funds for some specified crypto assets, which led to their adoption.