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Memecoins

PEPE soars amid Ethereum ETF optimism as new memecoins prepare to surge

TokenTalk Staff

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PEPE soars amid Ethereum ETF optimism as new memecoins prepare to rise

Disclosure: This article does not represent investment advice. The content and materials presented on this page are intended for educational purposes only.

Pepe’s price rises following positive Ethereum ETF news, while Galaxy Fox (GFOX) gains ground as a small-cap memecoin on Ethereum.

The crypto market saw a boom earlier this week, fueled by positive news on the Ethereum ETF. According to Bloomberg ETF analysts, the chances of getting a place Ethereum ETF approval increased from 25% to 75%.

This news sparked a frenzy in the altcoin market, especially for projects built on the Ethereum network, like the PEPE meme coin. Let’s go into detail and explore a low-cap meme coin on Ethereum.

PEPE memecoin price rises following positive ETH ETF news

Last week, PEPE price reached a new all-time high, crossing the $0.000011 zone and reaching a market cap of $4 billion. Following this surge, PEPE entered a correction phase, trading below the $0.00001 level for a few days.

However, following yesterday’s positive news, PEPE saw another uptick, rising back around the $0.000011 mark, once again trading near its all-time high zone. The current market capitalization now stands at an impressive $4.6 billion.

PEPE outperformed other top coins today, like SHIB, DOGE and FLOKI, whose prices have also increased – albeit more modestly, ranging from 6% to 8%.

Santiment reported that the excitement surrounding the potential approval of Ethereum’s first spot ETF acted as a catalyst, propelling the crypto market into one of its top five days in 2024.

Remarkably, Ethereum (ETH), Uniswap (UNI), PEPE, Bonk (BONK), and Lido DAO (LDO) all saw gains above 20% over a 24-hour period. Even Bitcoin’s impressive rise to $71,400, marking its highest level in six weeks, was overshadowed by the fervor surrounding the Ethereum ETF news.

From a technical analysis perspective, the MACD signal line for PEPE is currently below the MACD line, indicating a potential bearish signal. The relative strength index (RSI) is hovering around 70, suggesting the asset may be overbought in the near term.

Even though the PEPE price rise has been impressive, a period of reflection or consolidation cannot be ruled out in the coming days.

Low-Cap Memecoin on Ethereum: Galaxy Fox

For those interested in exploring memecoins on the Ethereum network beyond PEPE’s large market cap, Galaxy Fox (GFOX) it might be worth considering. This low-cap coin is up about 20% today, but still maintains a market cap of less than $1 million, according to Data from Dextools.

GFOX completed a very successful crypto presale earlier this year, raising over $6 million. After today’s pump, the current GFOX price stands at $0.00067. What gets attention when it comes to Galaxy Fox is its Web3 Runner utility and game.

The GFOX ecosystem includes the following features:

  • Gameplay to win: Players can participate in the game and earn GFOX tokens as a reward for their participation and achievements.
  • Staking: Token holders can stake their GFOX tokens to earn passive income streams, incentivizing them to hold and support the ecosystem.
  • Token engraving: The GFOX token features a burn mechanism, which reduces the total token supply over time, potentially increasing the value of remaining tokens held by users. The total amount of GFOX tokens is 5 billion, but just over 1 billion are currently in circulation.

Galaxy Fox’s core offering is a Web3 endless running game in which players can earn GFOX tokens based on their performance in the game. The top 20% of players in each season will receive GFOX token rewards.

On May 12, Galaxy Fox announced the launch of the beta testing phase of its web3 runner game. They expressed excitement about inviting members of their community to participate and provide feedback via email invitations.

Galaxy Fox emphasized the value they place on community insights and highlighted these beta tests as an incredible opportunity for users to get an exclusive look at the game, test its features, and offer valuable feedback to improve the overall gaming experience.

Conclusion

To conclude, the positive news from the Ethereum ETF has sparked a rally in the crypto market, especially for projects built on the Ethereum network, such as PEPE and GFOX. Although the rise in PEPE prices has been impressive, a period of reflection or consolidation cannot be ruled out.

For those looking for exposure to low-cap meme coins on Ethereum, Galaxy Fox presents an intriguing option and potentially the next meme coin to explode with its web3 runner game to win and token burning mechanism.

To learn more about GFOX here, visit the Galaxy Fox presale And join the community.

Disclosure: This content is provided by a third party. crypto.news does not endorse any products mentioned on this page. Users should conduct their own research before taking any action related to the company.

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We are the editorial team of TokenTalk, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on TokenTalk, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Memecoins

As Meme Coins Rise, Will DOGE and SHIB Increase 2X?

TokenTalk Staff

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Top Analyst Says Meme Coins Delayed Altcoin Season by Overshadowing “Good Altcoins”

As the altcoin market’s bullish trend accelerates, meme coins are making a comeback. Amid the recovery, the bull run of major coins like DOGE and SHIB presents long opportunities.

As community-driven coins quickly gain momentum, the upside potential is lucrative for secondary traders. Will rising DOGE and SHIB prices lead to a 2x increase this month?

As DOGE Holds on to $0.12, Will This Meme Coin Skyrocket?

After the bearish reversal from $0.22, DOGE price action creates a resistance trendline and a trend lower. As the fall tests the $0.125 strong demand zone, the reversal chances could rebound soon.

Trading View

Currently, DOGE price is trading at $0.1252 with an intraday gain of 2.71%. Additionally, price action reveals a break below the 61.80% Fibonacci level, warning of a crash below the psychological $0.10 mark.

However, the intraday gain and weaker price rejection provide a potential bullish reversal opportunity. Despite the bearish context, the meme coin offers an upside potential of 20% to reach $0.1486.

Will SHIB Price Reverse the Negative Cycle for a 30% Upside?

After the rise in early March, the SHIB price trend fails to maintain the upward momentum. The lack of zeal causes the channel to decline in the daily chart and causes the Shiba Inu price to fall by 48% over the last 100 days.

Trading View

Currently, SHIB price action reveals a lower lower formation with the breakout of the psychological mark of $0.000020. Additionally, the meme coin is trading at $0.0000188 with an intraday gain of 4.37%, creating a bullish candle above $0.000018.

A potential retest of $0.000020 could increase the chances of an uptrend if it appears above the psychological mark. In such a case, an early reversal of the negative cycle may retest the overhead resistance trendline near $0.00002470.

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Memecoins

Trump-Inspired Memecoins Crash 30% After ‘Trump Coin’ Rumors

TokenTalk Staff

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Trump-Inspired Memecoins Crash 30% After 'Trump Coin' Rumors

The crypto industry has been a crucial topic in the campaign trail for the US presidential elections in November. This year, presidential candidates have embraced cryptocurrencies to garner industry support. As a result, the community capitalized on the momentum with Memecoins.

PolitiFi tokens, a new category of memecoin inspired by political figures, performed remarkably during this second quarter. Trump-inspired tokens became the talk of the town after the Republican candidate began supporting cryptocurrencies. However, these memecoins suffered a massive 30% drop in the last 24 hours.

An official DJT token?

On Monday, Pirate Wires account X announced the launch of a so-called official “Trump Coin.” According to the report, the token is allegedly run by Trump’s 18-year-old son Barron Trump. “According to conversations, Trump is launching an official token – $DJT on Solana, Barron in the lead,” the post read.

Mike Solana, chief marketing officer of Founders Fund and editor-in-chief of Pirates Wires, sharing a smart contract address apparently linked to the token. Additionally, he said he was “merely reporting” what he knew “via sources” and that he “did not speak directly with Trump.”

Likewise, Martin Shkreli claimed that the DJT token was real on an X Space. He then maintained his position, pointing to a friend’s “confirmation” of Barron Trump. In a post, the 17-year-old said: “$DJT IS THE ONLY REAL TRUMP TOKEN. »

CoinsBarron Trump’s BFF ‘confirms’ DJT’s authenticity. Source: Martin Shkreli on X

However, the crypto community remains skeptical on the authenticity of the memecoin. Several users pointed out various red flags surrounding the “official” token, including DJT’s X account.

One user pointed out that the official X account had a “strange” following list. This list includes controversial figure Andrew Tate, American streamer Adin Ross and Shkreli.

Additionally, crypto analysis company Bubblemaps revealed that 67% of the token supply was in a single cluster. Raydium Concentrated Liquidity is the largest stock, accounting for 43% of the supply.

Many community members expressed their concerns with humor. Some users have suggested that serial scammer Sahil Arora, responsible for several celebrity memecoins rugs, orchestrated the symbolic launch. Others questioned whether the launch’s inconsistencies made it “more or less likely” that it was a Trump family business venture.

CoinsThe crypto community is sharing memes about the token launch. Source: Exit on

At the time of writing, no official sources have confirmed Trump’s involvement in the DJT token.

Trump Memecoins Fall

More than a month ago, the former American president declared he was “good” with cryptocurrencies and wanted to make it a “robust” industry with clear regulations. At the time, Trump-inspired memecoins soared more than 63% following his statements. Additionally, the PolitiFi sector has exploded, with tokens like BODEN increasing by almost 30%.

However, the story is different this time as rumors about an official Trump token have negatively impacted memecoin performance. PolitFi tokens are reporting a 30% decline over the past 24 hours, with a market cap of $1.03 billion.

Trump-related tokens have been hit hardest in the sector. Many fell between 20 and 30% in the last day. MAGA (TRUMP), the largest token linked to the former US president, saw its price fall by almost 50% in four hours.

Following rumors of “Trump coin”, TRUMP abandoned from the price range of $10.8 to $5.6 before falling back below the $7 mark. At the time of writing, the token is trading at $6.94, a 38.7% retracement over the past 24 hours.

Likewise, Trump Mania (TMANIA), Super Trump (STRUMP), and Doland Tremp (TREMP) suffered a price decline of 35.2%, 20%, 37.6%.

Memecoins, TRUMP, TRUMPUSDTTRUMP performance in three-day chart. Source: TRUMPUSDT on Trading View

Featured image from Unsplash.com, chart from TradingView.com

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Memecoins

Ether and Meme Coins Lead Recovery as Bitcoin Remains Moderate

TokenTalk Staff

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Ether and Meme Coins Lead Recovery as Bitcoin Remains Moderate

The digital asset market marked on the rise during the European morning with Ether fetching $3,500. ETH is up over 4% in the past 24 hours, trading at $3,540 at the time of writing. The CoinDesk 20 Index (CD20) added about 1.6%. DOGE is up almost 3.5% after its Tuesday fall, while its compatriot SHIB is also up more than 3%. Bitcoin remains subdued, trading around $65,400, up 0.2% from 24 hours ago. U.S. spot Bitcoin ETFs saw additional outflows worth $152.4 million on Tuesday.

Wallets tracked by CryptoQuant show whales have sold over $1.2 billion worth of BTC in the last two weeks. These long-term bitcoin holders are showing few signs of a recovery in demand, indicating a continued lack of upside potential for the world’s largest cryptocurrency. “Traders are still not increasing their bitcoin holdings and growth in demand from large holders still lacks strength,” the analysts wrote. Market observers say crypto miners may increasingly turn to the booming AI sector rather than bitcoin to conduct their business, prompting people to sell their bitcoin rewards instead of trading them. keep. Both industries rely heavily on powerful computer chips to generate and store data.

Stocks linked to Bitcoin and cryptocurrencies are underappreciated and ripe for institutional adoption, according to broker Bernstein. While BTC and Bitcoin ETFs may have shown promise before disappointing In recent months, Bernstein has predicted the approval of ETFs by major wire companies and large private banking platforms in the second half of the year. Bitcoin ETF inflows are expected to accelerate in the third and fourth quarters, the report said, and the next stage of adoption will be driven by large advisors approving ETFs and allocation margin from existing portfolios. Bernstein outperformed the ratings of publicly traded bitcoin-adjacent companies like MicroStrategy, Robinhood, and miners Riot Platforms and CleanSpark.

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Memecoins

The Sandbox buys PEPE, SHIB, BONK memecoins to support “their specific communities”

TokenTalk Staff

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New meme coin Dogecoin20 pumps 140%; Dogeverse to explode next?

Metaverse-centric platform The Sandbox has purchased six “major memecoins” in an effort to provide utility to its own users and the broader memecoin collective.

The sandboxan open-world online multiplayer game, announced the purchase of six memecoinsincluding PEPE and DOGE, with the aim of demonstrating its commitment to “staying on top of industry trends”.

In an environment announcement on June 18, The Sandbox announced that it had acquired PEPE, SHIB, EVEN, DEGEN, DOGEAnd BONK to support “their specific communities” and provide utility to “both our users and the broader memecoin collective.”

“We believe that cultivating creativity is the cornerstone of the open metaverse and are taking the time to engage and contribute to the growth of the Web3 ecosystem for the benefit of those within it.”

The sandbox

The decision to purchase memecoins reflects their growing importance, The Sandbox explains, adding that memecoins have gained “significant visibility in recent years” and attributing their success “largely to the support of high-profile individuals.”

Although the amount of the deal was not disclosed, The Sandbox announced its intention to use the purchased memecoins for its new initiatives, although the timeline was not provided. Crypto.news has contacted The Sandbox for comment and we will update the article if we receive a response.

The purchase comes just weeks after The Sandbox secured $20 million from Kingsway Capital and Animoca Brands, bringing its valuation to $1 billion. Like crypto.news reportedThe funding is expected to support The Sandbox’s initiatives to boost its creator economy, expand its decentralized mobile metaverse platform, and improve social features and avatar capabilities.

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