Spirit Blockchain Capital Acquires Dogecoin Holdings, Ankr Co-Founder Chandler Song Joins as Strategic Adviser

To fastrack global adoption of Dogecoin, Spirit Blockchain Capital Inc. (CSE: SPIR) has acquired Dogecoin Portfolio Holdings Corp., according to Wu Blockchain.

Spirit Blockchain Capital Completes Dogecoin Holdings Acquisition, Ankr Co-Founder Joins as AdvisorIn a move to fast-track global adoption of Dogecoin, Spirit Blockchain Capital Inc. (CSE: SPIR) has acquired Dogecoin Portfolio Holdings Corp., as reported by Wu Blockchain. Furthermore, Ankr co-founder Chandler Song has joined Dogecoin Holdings as a strategic adviser, indicating strong industry support for the development of Dogecoin’s ecosystem.Spirit Blockchain Capital announced the completion of its acquisition of Dogecoin Holdings to enhance Dogecoin’s global adoption. Ankr co-founder Chandler Song announced an investment in Dogecoin Holdings and will serve as a strategic adviser to participate in the development of new products aimed at driving consumer crypto adoption.Spirit Blockchain’s acquisition of Dogecoin Holdings aligns with its plans to leverage Dogecoin’s strong community and cultural relevance to expand its own market presence. Founded by Dogecoin enthusiasts, Dogecoin Holdings brings valuable intellectual property and expertise to Spirit Blockchain. This acquisition also complements Spirit’s mission to drive innovation in digital asset management, creating products that cater to both retail and institutional investors.Spirit plans to enhance Dogecoin’s global utility by developing financial products that will increase the accessibility and use of DOGE. According to Spirit Blockchain CEO Lewis Bateman, this acquisition positions Spirit as a leader in decentralized finance, utilizing Dogecoin’s popularity to attract a diverse investor base.Bateman expressed his excitement over the acquisition and the prospect of working with Dogecoin Holdings to strengthen Dogecoin’s ecosystem. He stated that Spirit will leverage Dogecoin’s unique characteristics and community to create products that drive crypto adoption among consumers.Some personal news: I've joined Dogecoin Portfolio Holdings Corp as an advisor. Dogecoin has stood out for its fair launch, true decentralization, and cultural relevance. I'm excited to work with the team to build more meaningful products that will pave the way for consumer… pic.twitter.com/EnVtZiIYrB

— chandler song (@antagonist) May 23, 2023

Dogecoin is currently priced at $0.192734, with a 24-hour trading volume of $3.77 billion. The token experienced a slight 0.83% decline over the past 24 hours. Despite the minor decrease, Dogecoin still retains a market capitalization of $28.27 billion with its circulating supply of over 146 billion DOGE coins, attesting to its liquidity.Derivatives trading activity has experienced a decline, with some traders showing bearish positions. As reported by Coin Edition, derivatives market data reveals a substantial drop in trading volume on some days. However, traders largely maintain a bullish stance, with long/short ratios exceeding 2 on Binance and OKX. At the same time, liquidations show a bearish trend, with $4.21 million in long positions liquidated within 12 hours. Overall, Dogecoin’s derivatives activity suggests potential volatility in the near term. Falling open interest and trading volume could signal an impending market shift.The content presented in this article is solely for informational and educational purposes. It does not constitute financial advice or guidance of any kind. Coin Edition is not liable for any losses incurred as a consequence of utilizing the mentioned content, products, or services. Before making any choices based on the company, readers are urged to conduct their own due diligence.

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