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🐋 Whales Buying Memes ! Open interest in memecoins continues to rise along with their prices, with PEPE coin up 46% and WIF token up 30% over the past week. 🗣 Currently, four of the top 10 cryptocurrencies by open interest (OI) are memcoins, with PEPE leading the list. Besides PEPE, Dogecoin, BONK and Dogwifhat also made it into the top ten. Memcoin surge driven by bullish momentum over the last couple of weeks as PEPE hit a new high, and WIF broke through $3.30. 🐶 Meanwhile, one whale spent 17,966 SOL, worth $2.98, to buy 953,177 WIF, sending the price of memcoin up 15% today. $WIF $PEPE $BONK #wif #pepe #bonk

🐋 Whales Buying Memes !


Open interest in memecoins continues to rise along with their prices, with PEPE coin up 46% and WIF token up 30% over the past week.


🗣 Currently, four of the top 10 cryptocurrencies by open interest (OI) are memcoins, with PEPE leading the list. Besides PEPE, Dogecoin, BONK and Dogwifhat also made it into the top ten. Memcoin surge driven by bullish momentum over the last couple of weeks as PEPE hit a new high, and WIF broke through $3.30.


🐶 Meanwhile, one whale spent 17,966 SOL, worth $2.98, to buy 953,177 WIF, sending the price of memcoin up 15% today.


$WIF $PEPE $BONK #wif #pepe #bonk

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⚠️ Dogecoin whales spend $100M on DOGE: Is a bull run next? The increase indicated rising demand, suggesting that DOGE could begin another rally. The 90-day MCA and circulation revealed that selling pressure had decreased. Dogecoin [DOGE] whales, specifically those who hold 100 million to 1 billion coins have been accumulating since the 28th of May. According to data AMBCrypto obtained from Santiment, the total purchase was worth over $100 million. As a result, the supply held by this cohort rose from 20.69% to 21.40%. This was reflected in the balance of addresses. The surge in buying activity could be good for DOGE’s price. 🔸 DOGE is ready: For what? This is because it signals a growing demand for the coin, and a price increase could follow suit. At press time, Dogecoin’s price was $0.15, indicating that the price has swung sideways in the last seven days. However, the rise in whale accumulation could change things for DOGE. If sustained, the cryptocurrency could break out, and a rise above $0.20 as it did in March could be next. But Dogecoin would need other metrics to validate this bullish prediction. Should the metrics align, the price could head in the direction mentioned earlier. However, failure to do that could send DOGE plunging as low as $0.12. AMBCrypto analyzed the coin’s price potential by looking at the Mean Coin Age (MCA). When the Mean Coin Age increases it means that old coins are moving wallets. In most cases, this indicates distribution while leading to lower prices. 🔸 Old coins are back to base From the chart below, the 90-day MCA has been increasing since the first week in April up until the 29th of May. As such, one can conclude that these sell-offs by long-term holders caused DOGE to remain stuck between $0.13 and $0.16 this past month. But for the past three days, the metric has been falling. At press time, the reading was 49.08, suggesting that more holders are preferring to keep the coin in self-custody rather than on exchanges. $DOGE #DOGE #DogeCoin
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📊 Cardano Investors Anticipate Gains Cardano (ADA), long recognized as a prominent project in the market, is stirring significant excitement among long-term investors. This enthusiasm is particularly tied to the anticipated bull market, with many investors calculating potential profits. 🔸 Can ADA Reach 50 Dollars? Despite recent underperformance, some investors are accumulating ADA tokens, indicating substantial profit expectations. The neutral price trend of ADA, currently at $0.45, reflects this sentiment. However, a noted 18% decline in 24-hour trading volume, now at $290 million, suggests a waning investor interest. If ADA were to reach the $50 mark, a $1,000 investment at the current price would yield approximately 2,222.22 tokens. This could potentially translate to an impressive $111,111.11 profit, assuming the unlikely scenario of ADA achieving such a significant price increase. 🔸 Is $50 Realistic for ADA? Historically, ADA’s highest price was $3.09 in 2021. Reaching $50, therefore, would require a staggering 11,011.11% increase from its current levels. While ambitious, some analysts consider this feasible. Changelly analysts predict ADA might reach $50 by 2040, a span of about sixteen years. Conversely, Telegaon forecasts that Cardano may not hit this target even by 2050, suggesting a maximum price of $45.87 for ADA by mid-century. 🔸 Key Inferences for Investors – Investors should consider the historic volatility and long-term nature of ADA investments. – Market conditions and trading volumes play critical roles in potential price movements. – Realistic expectations and timelines, possibly extending over decades, should guide investment strategies. 🔸 Conclusion In conclusion, while the anticipation of substantial gains drives current excitement among Cardano investors, the path to achieving such profits is fraught with challenges. Historical price trends and current market dynamics suggest that reaching the $50 mark is a long-term prospect, requiring patience and measured expectations. $ADA #ADA #Cardano
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🎮 Gaming Token Notcoin (NOT) Surges Nearly 160% This Week To Reach a New All-Time High A new altcoin connected to a viral game on the encrypted messaging platform Telegram printed fresh all-time highs this week after surging by nearly 160%. NOT is a community token for the popular Telegram-based tap-to-earn mining game Notcoin that began trading on May 16th when Binance rolled out support for the asset via its Launchpool platform, which lets users stake coins to farm new assets. Notcoin says it already has more than 1.6 million on-chain holders, more than the memecoins Shiba Inu (SHIB), Bonk (BONK) and Pepe (PEPE). The token is issued on The Open Network (TON) blockchain, which was initially developed by Telegram. The messaging platform parted ways with the chain in 2020 following a legal battle with the U.S. Securities and Exchange Commission (SEC). The Open Network, an open-source community of developers, took over management of the technology that year. TON, however, can still be sent by Telegram’s 700 million users within the platform without entering long wallet addresses. The 80th-ranked crypto asset by market cap is trading at $0.0127 at time of writing, up from $0.00489 seven days ago. $NOT #NOT
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🏛️ Binance Ex - CEO Changpeng Zhao Imprisoned in California As per CNBC Reports, Binance Ex-CEO Changpeng Zhao has been imprisoned in Lompoc, California. The News was confirmed by his defense team at Latham & Watkins. In April, the United States federal court in Seattle sentenced Changpeng Zhao to four months after he pleaded guilty to violating money laundering laws. Additionally, Zhao and Binance agreed to pay the US Commodity Futures Trading Commission a $4.3 billion and a $50 million penalty. #CZ #Binance
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📝 Terraform Labs and Do Kwon Settle with SEC Over TerraUSD Collapse Terraform Labs and its founder, Do Kwon, have reached a tentative settlement with the U.S. Securities and Exchange Commission (SEC). The SEC accused them of misleading cryptocurrency investors before the collapse of the stablecoin TerraUSD in 2022. 🔸 Do Kwon Agree to Settle SEC Civil Fraud Case The settlement details remain undisclosed. In April, a jury found Kwon and Terraform Labs liable on civil fraud charges. The SEC alleged that in 2021, they misled investors about TerraUSD’s stability and falsely claimed Terraform’s blockchain was used in a popular Korean mobile payment app. US District Judge Jed Rakoff in Manhattan has asked both parties to file papers supporting the settlement by June 12. Representatives from the SEC and the defendants declined to comment. The collapse of TerraUSD and the related token Luna disrupted cryptocurrency markets in May 2022. Investors in the two cryptocurrencies lost more than $40 billion. The SEC asked Judge Rakoff to make Kwon and Terraform Labs relinquish $5.3 billion from stablecoin sales. Additionally, the SEC sought a $420 million fine for the company and a $100 million fine for Kwon. They also demanded a ban on dealing in “crypto asset securities.” Kwon and Terraform Labs argued for significantly lower penalties, proposing maximum fines of $3.5 million for the company and less than $1 million for Kwon. Facing related criminal charges in both the US and South Korea, Kwon has denied any wrongdoing. Since his arrest in Montenegro in March 2023, he has awaited extradition, with Montenegrin authorities deliberating whether to send him to the US or South Korea. The crypto community has mixed reactions to the settlement. Some question how Terraform Labs plans to return the money. The news has also influenced market movements: initially, LUNA gained over 22%, but it then plummeted, facing a 14% drop in the past 24 hours. $LUNA #LUNC
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