Last night, the three major U.S. stock indices fell, with the Dow Jones down 0.54%, the S&P 500 down 0.61%, and the Nasdaq down 0.62%. MicroStrategy (MSTR.O) fell 7.5%, and Coinbase (COIN.O) dropped over 9%. This may be one of the reasons for the decline in the overall Bitcoin market.
In the past 24 hours, a total of 582,486 people were liquidated, with a total liquidation amount of $1.751 billion. It has been a while since such a large liquidation amount was seen. During a bull market cycle, contract risks are substantial, and everyone should be cautious. Yesterday, we mentioned that a correction would occur on the 4-hour level for Bitcoin and also warned contract traders to be mindful of risks, as the market tends to experience extreme volatility in bull markets.
Last night, the market followed the panic sell-off in U.S. stocks, dropping to around 9400. Although it found support, it still needs to be repeatedly verified. It seems that this position will undergo adjustments and fluctuations in the short term, expected to last around 1-2 weeks. In terms of altcoins, strong coins can be monitored; each major drop is an opportunity to accumulate.
Layout 3 altcoins with future growth potential of over 10 times!
1. DOGS
Over the past week, the DOGS (DOGS) token, built on the TON Network, has surged over 25%, attracting the attention of traders and investors. This impressive performance is driven by strong buying momentum and bullish sentiment. The market capitalization of DOGS is $449.07 million, showing good signs for further growth.
Moreover, market technicals are favorable for DOGS. The token is currently trading above the 0.618 Fibonacci retracement level, which is a key threshold for traders. All eyes are now on the $0.0011343 mark, representing the 1.618 Fibonacci extension. If broken, this could propel the token towards the next milestone of $0.0015458.
What sets DOGS apart from many meme coins is its combination of utility and innovation. Unlike projects that thrive purely on hype, DOGS integrates with Telegram to reward active and loyal users. Notably, 81.5% of its total supply of 55 billion tokens is reserved for the community, with 73% allocated to the most active members.
Currently, DOGS is trading at $0.000673, with a weekly increase of 25.35%. This growth highlights its expanding utility and potential partnerships, boosting investor confidence. Furthermore, technical analysis shows that the token has broken through key resistance levels, indicating further upward potential.
For those looking for strategic entry points, the support line around $0.0006565 is being closely monitored. If DOGS successfully breaks through the current resistance level, it may lay the foundation for short-term sustained growth.
2. PEPE
PEPE has made waves in the rankings, solidifying its position as a leading meme coin. According to CoinMarketCap, its price surged an astonishing 27.97% over the past week. Furthermore, PEPE's market capitalization has climbed to $10.91 billion, reflecting growing investor interest and confidence.
Still optimistic about PEPE's potential, pointing out positive technical indicators and market sentiment. According to TradingView, PEPE's trading price is above its 10-day EMA of $0.0000092 and 30-day EMA of $0.0000093, indicating strong upward momentum. Additionally, momentum indicators firmly place PEPE in the buying zone, suggesting that its bullish trend may continue. As the token approaches previous resistance levels, many investors are optimistic about a potential breakout.
PEPE has steadily risen over the past week, currently priced at $0.00002325, gaining 2.93% in just one day. However, its trading range highlights some volatility, with a daily low of $0.00002455 and a high of $0.00002463.
In addition, PEPE's whale activity has seen significant growth, with over 244 transactions exceeding $100,000. The increase in high-value transactions coincides with PEPE's price surge, indicating growing interest from large investors. Additionally, the increase in trading volume may attract more attention, potentially intensifying investment and market volatility.
3. DOT
Polkadot has recently gained significant attention for its interoperability and utility within the blockchain ecosystem. Developers increasingly favor its ability to connect with other networks and its focus on promoting development and community engagement. These qualities make it one of the most valuable utility tokens this year. The anticipated Polkadot 2.0 upgrade aims to enhance scalability and accessibility, addressing some existing challenges within the network.
Additionally, Polkadot recently launched peaq, a Layer-1 blockchain protected by its ecosystem. peaq focuses on real-world applications, supporting over 50 DePIN projects across 21 industries and 3 million IoT devices. Collaborations with major enterprises such as Mastercard, Bosch, Lufthansa, and Deutsche Telekom further highlight its potential.
Furthermore, the current stock price of DOT is $8.20, down 1.21% in the past 24 hours, but up 13.63% over the past 7 days. Price prediction sentiment remains bullish, with the fear and greed index reading 79, indicating extreme greed. The token's trading price is 78.67% above its 200-day simple moving average of $5.82, suggesting strong long-term performance. Additionally, with 18 green days over the past month and strong liquidity, Polkadot is expected to continue growing in the blockchain space.
