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👉👉👉 #TRON Founder Says #Memecoins🤑🤑 Are Here to Stay with Community Participation Justin Sun, the visionary behind TRON, recently reiterated his unwavering support for the meme coin sector. In an interview at the TOKEN2049 event and through a post on the official X account, Sun emphasized the profound impact of meme coins like #shibaInu and #FLOKI🔥 within the dynamic crypto industry. Sun acknowledged that while meme coins may seem unconventional, they hold a significant position in the crypto market ecosystem. He expressed confidence in their enduring relevance, attributing their staying power to their influential role in shaping the overall crypto landscape. Sun went on to predict that these tokens will continue to play a crucial role in future market uptrends, citing their resilience and ability to capture widespread attention. Highlighting the endorsement of prominent figures like Elon Musk, particularly in the case of $DOGE coin, Sun underscored the importance of celebrity support in bolstering the success of meme coins. He asserted that such backing from influential personalities contributes to the long-term viability and success of these tokens, further solidifying their position in the market. Moreover, Sun emphasized the pivotal role of community participation in fueling the phenomenon of meme coin mania. He stressed that the level of engagement and involvement from the #CryptoCommunity is instrumental in shaping the trajectory and prominence of these digital assets. Sun believes that heightened community participation will inevitably lead to the ascendance of meme coins to a dominant position within the crypto sphere. Source - blockchainreporter.net

👉👉👉 #TRON Founder Says #Memecoins🤑🤑 Are Here to Stay with Community Participation

Justin Sun, the visionary behind TRON, recently reiterated his unwavering support for the meme coin sector. In an interview at the TOKEN2049 event and through a post on the official X account, Sun emphasized the profound impact of meme coins like #shibaInu and #FLOKI🔥 within the dynamic crypto industry.

Sun acknowledged that while meme coins may seem unconventional, they hold a significant position in the crypto market ecosystem. He expressed confidence in their enduring relevance, attributing their staying power to their influential role in shaping the overall crypto landscape. Sun went on to predict that these tokens will continue to play a crucial role in future market uptrends, citing their resilience and ability to capture widespread attention.

Highlighting the endorsement of prominent figures like Elon Musk, particularly in the case of $DOGE coin, Sun underscored the importance of celebrity support in bolstering the success of meme coins. He asserted that such backing from influential personalities contributes to the long-term viability and success of these tokens, further solidifying their position in the market.

Moreover, Sun emphasized the pivotal role of community participation in fueling the phenomenon of meme coin mania. He stressed that the level of engagement and involvement from the #CryptoCommunity is instrumental in shaping the trajectory and prominence of these digital assets. Sun believes that heightened community participation will inevitably lead to the ascendance of meme coins to a dominant position within the crypto sphere.


Source - blockchainreporter.net

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💥💥💥 #NFT Prices Tumble As Crypto Investors Place Big Bets On #bitcoin And Ethereum #ETFs The non-fungible token (NFT) market is experiencing a decline in popularity amidst optimism around Bitcoin (BTC) and Ethereum (ETH) price spikes. Google searches for NFTs have hit their lowest levels since 2021, as reported by Bloomberg. NFT sales dropped over 6% to $8.5 billion in the first five months of this year, compared to the same period last year. This is a significant decline from the peak in January 2022, when sales reached $17.2 billion in one month. The sentiment around NFTs worsened last month when the US SEC took steps toward approving ETFs directly investing in Ethereum, causing investors to reallocate funds from NFTs to ETH. Nicolas Lallement of NFT Price Floor noted this capital rotation is common in crypto markets, contributing to price drops for NFTs. Popular NFT collections like CryptoPunks, Bored Ape Yacht Club (BAYC), and Chromie Squiggle have seen significant price declines, with some dropping around 40% to 50% year-to-date. Despite some collections like XCOPY’s posting positive returns recently, the overall trend indicates a market correction. Daniel Maegaard, an NFT collector, confirmed the ongoing decline or stagnation of most NFT collections since their 2021 peak. While Magic Eden has shown some resilience and gained market share, its trading activity has decreased since April. Overall, the NFT market is reflecting a decline in both popularity and prices, with continued correction expected. ETH was trading at $3,480, following a sharp decline along with Bitcoin. Source - newsbtc.com #CryptoNews🔒📰🚫 #BinanceSquareTalks
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🔥🔥🔥 $BTC average change in retail demand falls to 5-month low, could a 75% rally be next? Bitcoin's retail demand has declined over the past month, with some analysts suggesting it might signal an impending price surge similar to early 2024. Retail investor interest, defined by those with up to $10,000 in transfer volume, has dropped to its lowest in five months, a level last seen in January. This previous decline led to a 75% surge over two months. CryptoQuant's Axel Adler reported a negative 17% average monthly change in retail demand over the past 30 days. A similar drop to -18% in January preceded Bitcoin’s rise from $40,000 to $70,000, following the approval of spot #BitcoinETFs in the U.S., which drove Bitcoin to a mid-March all-time high of $73,679. Adler also noted a 31% demand drop over 17 days before May 24, with a shift attributed to rising interest in GameStop and #Ethereum due to initial spot Ether ETF approvals. Factors like the U.S. Consumer Price Index (CPI) also influence Bitcoin demand; a lower CPI can make Bitcoin more appealing as traditional savings yield less. Markus Thielen of 10x Research indicated that the CPI must drop to 3.3% on June 12 for Bitcoin to reach new all-time highs. On June 11, Bitcoin fell below its November 2021 all-time high of $69,000, trading at $67,350, down 3.19% in 24 hours per CoinMarketCap. This decline led to $52.87 million in Bitcoin long positions being liquidated, though open interest remains above $35 billion per CoinGlass data. Despite traders' hopes for a rebound above $70,000 after a June 8 drop, Bitcoin has yet to recover. Future traders appear pessimistic about a near-term recovery, with $2.14 billion in short positions hinging on the June 12 CPI results. This is not investment advice. Source - cointelegraph.com #CryptoTrends2024 #BinanceSquareBTC
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💥💥💥 #bitcoin Price Falters: Another Downturn In Crypto Prices Bitcoin's price failed to sustain above the $68,500 support zone, leading to further losses and bearish signals below $68,800. Bitcoin's Decline - Initial Surge and Drop: Bitcoin attempted to rise above the $69,500 resistance, briefly breaking $70,000, but couldn't maintain gains. The price peaked at $70,142 before starting a fresh decline. - Support Levels Breached: It fell below key support levels at $69,500 and $68,500, reaching a low of $67,920. The price is now consolidating near the 23.6% Fib retracement level from the $70,142 high to the $67,920 low. Current Trading Position - Below Key Averages: Bitcoin is trading below $69,500 and the 100-hour Simple Moving Average. - Resistance Levels: Immediate resistance is around $68,800, with significant resistance at $69,000 (50% Fib retracement level of the recent decline) and $69,500, where a bearish trend line is forming on the hourly chart. - Potential Upside: A clear move above $69,500 could push the price to test the $70,000 level, and further gains might target $71,200. Potential for Further Declines - Failure to Rise: If Bitcoin doesn't climb above the $69,500 resistance, another decline may start. - Support Levels: Immediate support is near $68,000, with major support at $67,650 and $67,500. Continued losses could drive the price toward $66,400. Technical Indicators - MACD: Gaining momentum in the #BEARISH📉 zone. - RSI: Below the 50 level for BTC/USD. Summary - Support Zones: $68,000, $67,500. - Resistance Zones: $69,000, $69,500. Bitcoin's failure to stay above critical support levels has led to further losses. Resistance is around $68,800 and $69,500. If these are not surpassed, the price could decline to $68,000, $67,500, or even $66,400. Technical indicators highlight this bearish trend, stressing the need to break significant resistance to reverse it. Source - newsbtc.com #CryptoTrends2024 #BinanceSquareBTC #cryptocurrency
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