Memecoins
Solana climbs 4% on the back of rising Meme Coins and Alts
The cryptocurrency market is abuzz with renewed optimism as Bitcoin (BTC) broke through the $68,000 barrier on Sunday evening, hitting a high of $68,486.
The increase comes as outgoing President Joe Biden announced his decision to withdraw from re-election, which he announced in a letter shared on Twitter.
For analysts, the announcement is a step towards some policy clarity and boosts investor confidence in the market. But the real story lies in altcoins, which are by definition the leading digital assets after Bitcoin.
Here, Solana (SOL) has emerged as the favorite, with a healthy price increase of 4.2%. At the time of writing, SOL is trading at $179.61 according to data from Coingecko. This is thanks, at least in part, to Political Coins There has been a surge of interest from traders after Biden dropped out of the race over the weekend.
This positive momentum seems to have spread to other altcoins and memes. Solana’s meme coin, Dogwifhat (WIF), has seen a 10% surge. At the time of writing, WIF is trading at $2.80 after gaining 57% over the past week.
Avalanche (AVAX) joined the party with an impressive 11.3% gain to $32.25 and the ever-popular Dogecoin (DOGE) climbed 5.2% to $0.1379.
The total market capitalization of altcoins has now reached $1.34 trillion, according to Coingecko.
But crypto analyst Benjamin Cowen drew parallels between current market conditions and past cycles, noting that there is a chance this altcoin boom could be short-lived.
“The monthly BTC dominance candle reminds me of May 2019, 2 months before the Fed cut rates in the last cycle,” wrote the CEO of Into the Cryptoverse on Twitter. “BTC also had an explosive move back then, and ALTs just couldn’t keep up. Similar candle today, potentially 2 months before the first rate cut.”
This sentiment is also supported by data from Finery Markets, which reported a significant 51% year-over-year increase in total crypto-to-crypto trading volume during the first half of the year.
While Bitcoin and Ethereum (ETH) continue to dominate, several altcoins have shown remarkable growth. Litecoin (LTC) saw an 80% year-over-year increase, Tron (TRX) surged 202%, and Binance Coin (BNB) increased 129%.
Interestingly, a research note from Finery Markets attributes much of this growth to a low base effect resulting from the market slowdown in the first half of 2023, triggered by the collapse of FTX.
This suggests that the current surge in altcoins, led by Solana, could be part of a broader process of market recovery and maturation.
It should be noted, however, that institutional participation in altcoins remains relatively low, with the top five alternative cryptocurrencies accounting for just 5.4% of total trading volume.
This indicates that there could still be significant room for growth as institutional investors become more comfortable with these assets.
Mads Eberhardt, senior cryptocurrency analyst at Steno Research, offers an optimistic outlook for the cryptocurrency industry in the second half of the year. said On Twitter, there has been a massive surge in USD liquidity, thanks to what appears to be the first interest rate cut by the US Fed and the fact that Bitcoin and Ethereum both have spot ETFs in the US, with Bitcoin ETFs seeing record launches earlier this year.
Eberhardt also highlighted other positive factors, including “a clear regulatory framework with the European Union’s MiCA, steadily declining exchange balances, strong seasonal trends, a post-4th Bitcoin Halving period, a period where Bitcoin has historically thrived.”
He also noted that “every major bank will experiment with real-world assets on-chain” and “in November, the first-ever pro-cryptocurrency US president will likely be elected.”
Based on these factors, Eberhardt issued a bullish forecast for “Bitcoin at $100,000. Ethereum at $6,500.”
Edited by Stacy Elliott.
Memecoins
Memecoins dominate major derivatives in terms of open interest | Flash News Detail
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Memecoins
Have a profitable August with Shiba Inu and Mpeppe (MPEPE) Don’t miss the winnings
August offers investors a unique opportunity to capitalize on the potential gains offered by Shiba Inu (SHIB) and Mpeppe (MPEPE)These two memecoins take advantage of the viral nature of internet memes and popular culture, attracting a diverse and enthusiastic audience. In this article, we’ll look at why Shiba Inu (SHIB) and Mpeppe (MPEPE) are poised for gains this month and why you shouldn’t miss out on the potential profits.
The viral power of memecoins
Memecoins have the inherent ability to leverage the viral nature of internet memes and popular culture references. This can lead to rapid spread of the cryptocurrency’s brand and message across various online platforms, potentially appealing to a broader and more diverse audience. Shiba Inu (SHIB) and Mpeppe (MPEPE) are great examples of how this viral potential can translate into substantial community growth and market presence.
Shiba Inu: riding the wave of popularity
Shiba Inu (SHIB) has established itself as a major player in the memecoin space. With its cute canine mascot and strong community support, Shiba Inu (SHIB) has gained a significant following. The coin’s ecosystem continues to grow, with projects like ShibaSwap adding to its utility and appeal. Investors are optimistic about Shiba Inu’s future, expecting it to ride the wave of popularity that has kept it in the spotlight.
Ecosystem expansion
THE Shiba Inu (SHIB) The Shiba Inu (SHIB) ecosystem is constantly expanding, offering new features and utilities that enhance its value proposition. Projects like ShibaSwap provide users with opportunities to stake and earn rewards, making Shiba Inu (SHIB) more than just a meme currency. This expansion helps solidify its market position and attract a wider audience.
Balancing humor and professionalism
Mpeppe (MPEPE) offers a unique and light-hearted approach to the serious world of digital assets, balancing humor and professionalism. Inspired by internet memes and the dynamic energy of football fans, Mpeppe (MPEPE) is quickly gaining traction in the crypto community.
Mpeppe (MPEPE) offers an opportunity to reach a younger demographic and tap into the viral nature of internet culture. By balancing humor and professionalism, Mpeppe (MPEPE) appeals to a wide audience, from casual meme enthusiasts to serious investors. This strategy is similar to the one that made Shiba Inu (SHIB) so successful, but with a modern twist.
Expanding Reach and Adoption
Mpeppe’s (MPEPE) ability to leverage internet culture means it has the potential to rapidly expand its reach and adoption. The memecoin’s branding and community-driven approach make it accessible and appealing, much like Shiba Inu (SHIB) in its early days.
Why August is the month to invest
As the cryptocurrency market experiences a surge in interest, August presents a great opportunity to invest in promising assets like Shiba Inu (SHIB) and Mpeppe (MPEPE) Both coins are well positioned to capitalize on the growing interest in memecoins, driven by their unique appeal and active communities.
Conclusion: Don’t miss the benefits
Shiba Inu (SHIB) and Mpeppe (MPEPE) are poised for a profitable August, leveraging their viral potential and strong community support to attract a diverse audience. With the cryptocurrency market in full swing, now is the perfect time to consider investing in these promising memecoins. Just as Shiba Inu (SHIB) captivated the crypto world with its unique appeal, Mpeppe (MPEPE) is poised to make its mark. Don’t miss out on the potential gains these innovative digital assets have to offer.
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Memecoins
Solana down 8% as its coins Dogwifhat, Billy and Neiro fall further
Solana, the fifth-largest crypto asset by market cap, has fallen 8% in the past 24 hours, according to CoinGeckolike his Meme Coin Market Prices of some coins, which can be notoriously volatile, have fallen by as much as 43% in the past day.
As the cryptocurrency market bleeds with Bitcoin (Bitcoin) down 2.7% and Ethereum (ETH) 4.2%, Solana (GROUND) was the hardest hit among the top 10 cryptocurrencies, falling 8.2% to $168 on the day, according to data from CoinGecko. Along with this, meme coin Solana suffered huge losses.
The biggest loser in the last 24 hours is the bigger of the two Black (NEIRO) on Solana which fell nearly 44% to $0.01821. These tokens were launched after the owner of Kabosuthe Shiba Inu that inspired the Doge meme, announced that she had adopted a new dog named Neiro. Interestingly, her rival on the network launched an hour beforealso called Black (NEIRO), is up 75.2%. It appears that the Solana Neiro Civil War is far from being decided.
Other big losers include: Pump.fun’s Favorites Billy (BOWL), down 26.4%, and Michi (MICHI), which fell 24.5%. Over the past 24 hours, both tokens have flipped their market caps multiple times, but dog token Billy is currently in the lead with $94 million, about $3 million ahead of Michi.
Dog with hat (Wireless), the largest meme coin on Solana, was also hit, dropping 12.4%. Bonk (BONK), the second-largest Solana meme coin, fell 9.1%. In fact, among the top 50 Solana meme coins by market cap, only four tokens are in the green, with Zoomer (ZOOM IN) leading the pack with 41.1%.
Meme coins are notoriously high-risk assets and tend to post disproportionate losses when the broader market experiences a downturn.
Brain (BRAIN), Michi (MICHI), Mini (MINI), Shark cat (SC), and many others, for example, have suffered greater losses in the last 24 hours than any of the top 100 cryptocurrencies by market capitalization.
In the world of meme coins, when it rains, it rains.
Edited by Stacy Elliott.
Memecoins
Trader Says Bitcoin’s Path to $100,000 Is ‘Currently Programmed’, Updates Outlook on Memecoin That’s Up Over 18,000% YTD
A widely followed analyst and trader expresses bullish sentiment on Bitcoin (Bitcoin) while offering his take on the memecoin built on Solana (GROUND) blockchain ecosystem.
Starting with Bitcoin, the analyst known by the pseudonym Altcoin Sherpa tell His 219,000 followers on social media platform X say Bitcoin is on the verge of hitting a six-figure price.
“There will be bumps along the way, but Bitcoin’s path to $100,000 is on schedule. Don’t get rattled or lost along the way.”
Source: Altcoin Sherpa/X
At the time of writing, Bitcoin is trading at $66,236.
According to For the widely followed trader, Bitcoin enjoys strong support between $63,800 and $65,000, where the 25, 55, 89 and 200 exponential moving averages (EMAs) on the daily chart have clustered.
Source: Altcoin Sherpa/X
Next up is the Solana-based memecoin Popcat (POPCAT). The pseudonymous trader and analyst said that among the cat memecoin family, POPCAT is one of the “best” in the long run.
Altcoin Sherpa, however, says POPCAT looks bearish on the short-term four-hour time frame and needs to climb above a range low between $0.694 and $0.724 to avoid falling further.
Source: Altcoin Sherpa/X
POPCAT was trading at $0.00379 on January 5th and is now at $0.704, a gain of approximately 18,475%.
Altcoin Sherpa also offers his take on dogwifhat (Wireless), Solana-based Memecoin. According to For the pseudonymous analyst, WIF “still looks pretty good for now” on the four-hour chart with the “best” support area sitting around $2.10.
“The average would probably be $2.30 to $2.10 if I were you and I was swing trading this one.”
Source: Altcoin Sherpa/X
WIF is trading at $2.27 at the time of writing.
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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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