Memecoins
ETH Dominance, Memecoin Trading Strategies, BTC July Predictions: Exclusive June 2024 Report
Bitcoin fell below $60,000 on June 24, for the first time since May 3. The market appears to have entered the fear zone, with no capitulation in sight.
Around the $61,156 level, 84.38% of BTC investors are making profits compared to 14.31% who are making losses. In fact, some maximalists felt that the bottom had been reached and the centerpiece was about to experience an ascending streak.
Source: IntoTheBlock
However, according to AMBCrypto Exclusive Report for the Month of JuneBitcoin’s upward journey may not be possible in the short term. BTC will struggle to break the psychological $70,000 mark throughout July. The report used various metrics and observations based on statistics to analyze the future trajectory of the king coin.
Memecoins are taking over
Interestingly, memecoin traders had a more lucrative June than Bitcoin holders, with profits made in most trading sessions. To understand their winning strategies, AMBCrypto conducted a study Exclusive global survey in which 7,259 memecoin investors participated. As expected, the survey results were very informative.
More than half (53%) of traders take a spread-out approach, buying small amounts of many coins in the hope of making a big profit. The rest (43.5%) are more cautious and research coins before investing.
AMBCrypto also found that Dogecoin was the most popular memecoin in June. The metrics favored this narrative: Large holders’ net flow on June 25 stood at -293.66%, which simply means that over the past 30 days, outflows have exceeded inflows. This can be seen as a bullish signal and a sign of early recovery.
Source: In the Block
AMBCrypto report also looked beyond memecoins to analyze other areas of crypto like DeFi, gaming tokens, and AI tokens. However, his most surprising discovery concerns the NFT sector.
The report reveals that Solana has become the new leader in NFT creation, surpassing Ethereum. This suggests that users and developers are increasingly choosing Solana to create NFTs.
Dive into AMBCrypto’s June Market Analysis
Explore memecoin investment strategies, analyze market trends, and review how top cryptocurrencies performed in June. This full report covers critical topics including:
- Strategies to maximize returns for memecoin investors.
- Key factors to evaluate before investing in memecoins.
- Predictions that Bitcoin will surpass $73,000 in July.
- The potential decoupling of BTC from traditional finance (TradFi).
- The weakening correlation between Ethereum and Bitcoin.
- What Makes Cardano Short-Term Investors So Bullish?
- Are AI Tokens Good for Portfolio Diversification?
- Should you sell all your NFTs?
You can download the full report here.
