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Dogecoin and Moons secure spaces on Reddit’s “place” canvas; Bitcoin fails to do so


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The global crypto market cap is $1.18 trillion with a 24-hour volume of $26.1 billion. The price of Bitcoin is $29,209.96 and BTC market dominance is 48.1%. The price of Ethereum is $1,867.25 and ETH market dominance is 19.1%. The best performing cryptoasset sector is Cannabis, which gained 65%.
Community members are vying for positions on a gigantic pixel canvas.
Cover art/illustration via CryptoSlate
Dogecoin and the /r/cryptocurrency subreddit have both secured a place in Reddit’s massive “place” canvas as of July 25.
The event, which has been ongoing since July 20, allows Reddit users to edit an image one pixel at a time. The fact that each user must wait a certain amount of time to draw each pixel means that communities must collaborate to complete their drawing.
Now, as the event reaches its conclusion, two crypto communities have seemingly secured space on the canvas. The Dogecoin (DOGE) community has drawn three Ð symbols alongside a muscular “shiba inu” dog wearing sunglasses.
Meanwhile, /r/cryptocurrency has drawn a moon (and a moon-like heart symbol) to represent its “Moons” token, alongside a vine and a rocket ship.
Bitcoin (BTC), meanwhile, has seemingly failed to secure a spot. The currency’s listed position briefly displayed a Cuban flag and has now been vandalized with random black pixels. Some contributors also report that certain users are attempting to hijack a drawing of a coin that is unrelated to cryptocurrency — which has a “P” for the Twitch streamer Punz — and instead draw a “B” for Bitcoin.
Last year’s canvas saw significantly more crypto entries. Bitcoin, Ethereum, Monero, Moons, Nano, Banano, Helium, Raptoreum, and Wownero all secured a position or multiple positions on the canvas in 2022. The 2017 edition of the event appeared to include fewer crypto entries but included at least Bitcoin, Ethereum, and Monero.
The 2023 event is expected to end at an unspecified time on July 25.
The two successful crypto drawings come alongside breakouts for the relevant tokens. Dogecoin gained value on July 24 as Elon Musk rebranded Twitter and added the Ð symbol to his profile. This once again raised hopes for Dogecoin integration though Musk did not announce official plans to do so. Dogecoin is up 20.4% over seven days.
Meanwhile, /r/cryptocurrrency Moons (MOON) were listed by Crypto.com on July 17. The asset is up 314.8% over the past 14 days.
Bitcoin, a benchmark for the rest of the cryptocurrency market, is down 1.6% over the past seven days and down 4.2% over 14 days.
Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada’s West Coast.
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Dogecoin is a cryptocurrency created in December 2013 as a joke by software engineers Billy Markus and Jackson Palmer.
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Reddit is a social news aggregation, conversation, and content-rating website based in the United States.
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