Snoop Dogg Swears Off Weed, Crypto Gamblers Call His Bluff
Portfolio Pulse from Mehab Qureshi
Snoop Dogg has announced his decision to quit smoking marijuana, prompting Polymarket to open a bet on whether he will smoke within 2023. The bet has attracted attention, with odds fluctuating and a 73% chance at one point that Snoop would not maintain his abstinence. The outcome of the bet hinges on the definition of 'smoke' and will be determined by UMA's DeFi oracle network based on Snoop Dogg's statements or credible reporting. Meanwhile, Bitcoin is down 2.33% in the last 24 hours.
November 17, 2023 | 4:53 am
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NEGATIVE IMPACT
Bitcoin has experienced a 2.33% decrease in the last 24 hours. The cryptocurrency market may react to the increased attention from the crypto community due to the bet on Snoop Dogg's marijuana abstinence.
While the news about Snoop Dogg's announcement and the subsequent bet on Polymarket is indirectly related to Bitcoin, the price action mentioned is likely due to broader market trends rather than this specific event. However, the attention on crypto betting platforms could have a marginal impact on the sentiment in the short term.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50