Elon Musk has shown a fondness for meme coins, particularly Dogecoin (DOGE), for several reasons:
1. Humor: Musk appreciates the lighthearted and playful nature of meme coins, which often have a humorous or satirical tone.
2. Decentralization: Musk supports decentralized cryptocurrencies and the idea of disrupting traditional financial systems.
3. Community: Meme coins often have a strong and engaged community, which aligns with Musk's emphasis on community-driven initiatives.
4. Accessibility: Meme coins are often more accessible and easier to understand than other cryptocurrencies, making them more appealing to a wider audience.
5. Innovation: Musk is drawn to innovative ideas and technologies, and meme coins often incorporate new and creative features.
It's worth noting that Musk's interest in meme coins is not just about humor; he also sees their potential for mainstream adoption and financial disruption.
Even this is proven fact that people have made millions from coins like $PEPE
$Doge
$MEME
$@Shiba Inu
#Eloncrypto #CryptoNewss #doge⚡ #MemesCoins2024

Current Price: $0.21237 (-5.36%)

#BIGTIME/USDT , the blockchain-based action RPG, is generating significant buzz in the cryptocurrency market. With strong fundamentals and a compelling technical setup, it could be poised for substantial growth.

The Bullish Setup: Inverse Head and Shoulders Pattern

BIGTIME’s price chart displays a classic inverse head and shoulders pattern, a widely recognized indicator of a potential trend reversal. This formation often signals the end of a downtrend and the beginning of upward momentum.

Key Technical Insights

Breakout Confirmed: BIGTIME has already breached the neckline of the inverse head and shoulders pattern, validating the bullish signal.

Retesting the Neckline: The current price action reflects a healthy retest of the neckline, which presents a promising entry point for investors seeking exposure.

Potential Profit Opportunities

1. Entry Point: Consider buying BIGTIME above $0.20.

2. Targets:

Midterm Target: $0.40 (representing an 80% upside).

Long-term Target: $0.99 (offering a potential 300% upside).

3. Stop-Loss Recommendation: Place a stop-loss at $0.18 to manage downside risk effectively.

Key Considerations for Investors

Do Your Own Research (DYOR): Always conduct thorough research before making investment decisions.

Risk Management: Implement sound risk management practices, such as setting appropriate stop-loss levels and diversifying your portfolio.

Conclusion

With its strong fundamentals, engaging gameplay, and bullish technical setup, BIGTIME has the potential to deliver significant returns for investors. As the project continues to gain traction, it could become a standout opportunity in the blockchain gaming sector.

Are you ready to seize the BIGTIME opportunity? Stay informed, manage risks, and prepare for what could be an exciting rally ahead.

According to previous reports, on October 9, the U.S. Securities and Exchange Commission (SEC), the FBI, and the Department of Justice (DOJ) jointly filed lawsuits against four crypto companies, including Gotbit Consulting, ZM Quant Investment, and CLS Global, accusing them of self-trading market manipulation and multiple crimes related to cryptocurrencies such as Saitama, Robo Inu, and NexFundAI. A total of nine individuals were charged, with some defendants agreeing to separate settlements.
Following the announcement, several projects, including Hamster Kombat, Beercoin, and WaterCoin, clarified that they either did not use Gotbit as a market maker or had already replaced them.
On October 16, Gotbit officially confirmed: “Our CEO, Alex Andryunin, was arrested in Portugal. Currently, we have no further details.” Reports indicate that two Gotbit employees in Russia have also been charged.
The confirmation from U.S. authorities and Gotbit itself has drawn more attention to this market maker in the crypto industry, known for being a major force behind the “meme” trend. Why has it now come under legal scrutiny?

Starting with Fake Trades, Gaining Fame through Market Making for Meme Tokens
Gotbit was founded in 2018 during the ICO boom, when its founder Alexey Andryunin was a 20-year-old college freshman. 
In 2019, a CoinDesk article exposed Gotbit’s involvement in faking trading volumes by programming bots to make token transactions appear more active, helping clients get listed on small exchanges and eventually on CoinMarketCap. 
Alexey mentioned that exchanges were aware of the manipulation but had no interest in stopping it. By that time, 300 to 500 projects listed on CoinMarketCap were Gotbit’s clients. Despite his skepticism about the long-term viability, Gotbit continued growing. At the end of 2022, Gotbit emerged as the market maker for the Solana-based meme coin Bonk, which saw a significant increase in value.
By the end of 2023, Gotbit helped ANALOS achieve an incredible 3,700x price surge in just one week, making it a secret to wealth for meme coin traders. 
As memes remained hot in 2024, Gotbit shifted its focus to market-making services for popular meme tokens like BEER and WATER. 
Based on Gotbit’s publicly available partnership information, it can be observed that Gotbit has collaborated on over 50 projects, with more than 90% of them being meme projects. A majority of these meme projects are based on the Solana blockchain. Their pinned tweet features a collaboration with Neiro, recently listed on Binance.
On-Chain Detective’s Disclosure
In September 2023, on-chain detective ZachXBT shared a document on X revealing Gotbit’s market-making strategies:
In the first few minutes of price discovery, Gotbit boosts token prices by 10x to create FOMO and sell all tokens at the peak.
Their focus during the first 12 hours is to exploit arbitrage opportunities for fast profits.
On launch day, Gotbit aims for $50 million in trading volume, primarily through CEX.
The goal is to achieve a 20x peak post-launch and 25x within the first month.
ZachXBT warned users about Gotbit’s practices, while Lookonchain highlighted fraudulent behavior in Gotbit’s MEME tokens like BEER and WATER, which crashed after price spikes. Some of these projects may even have rug-pulled.

#Gotbit #MemesCoins2024 $NEIRO $BONK