The market suffered a sudden setback yesterday, causing many friends who participated in the transaction to suffer margin calls again.
What motivated you to go long? Where did you get the courage to go long?
The current market is clearly in a period of consolidation. If long positions are not cleared, the bull market seems difficult to start.
According to the latest data, the number of traders who choose to go long has exceeded 55%, which is 1% more than yesterday.
This inconspicuous 1% of wrinkles may be the last straw that breaks the camel's back in the weight loss market.
Many fans asked me: When will the bull market come?
We also need to be patient and wait for a short period of time. When most people are bullish, the market often does not rise as expected; and when most people are bearish, the market will not fall sharply.
Think about it, before the bull market started, weren't 80% of people bearish? That was when the bull market first began to show signs.
Five cryptocurrencies set to shine in the bull run
ORDI
The total supply of Bitcoin is set at 21 million, each of which can be further resolved into 100 million satoshis (the smallest unit of Bitcoin), for a total of 210 million satoshis. In this framework, Ordi emerged as the first and most valuable BRC-20 token on the Bitcoin network. To truly understand Ordi, we must first understand "inscriptions". Inscription technology is achieved by using the Ordinals protocol to write content directly to satoshis, a process that does not rely on any external tokens, sidechains, or modifications to Bitcoin.
The serial number restriction protocol works by engraving information on each word, which can be text, pictures, audio and video. Due to the size of Bitcoin blocks, the main content engraved at present is text and pictures, which usually appear in the form of NFT and token. Since the inscriptions are generated directly on the Bitcoin blockchain, they are tamper-proof and are not controlled by any project party. As long as the Bitcoin network continues to operate, these inscriptions will never disappear.
A core principle of the Ordinals protocol is "first come, first served" - whoever inscribes first, the content belongs to him. Anyone can use this protocol to deploy contracts on the Bitcoin chain. If a breakthrough is successful, the value of these contracts may skyrocket hundreds of times; if not, they may conduct technical experiments.
ORDI continues to search for the bottom, and the daily level adjustment has not yet ended. If support can be found near 39, a key double bottom pattern may be formed, which is crucial for future rises. There is no level to stop the decline, and it is recommended to wait for market performance.
MEME
MEME is the core token of Memeland, a Web3 creative studio founded by 9GAG, a world-renowned meme platform. Memeland focuses on SocialFi and the creator economy, aiming to strengthen the connection between creators and the community through product innovations such as NFT and tokenization.
Since June 2022, Memeland has successfully launched three eye-catching NFT series: You The Real MVP, The Captainz, and The Potatoz. These series not only enrich the content of the platform, but also enhance the user's interactive experience.
9GAG, the predecessor of Memeland, has been committed to spreading joy since 2008 and has now grown into a global top meme platform with more than 200 million fans. It is not only one of the top 500 websites in the world by Alexa, but also has received support from well-known institutions such as Y Combinator.
In addition, the Memeland team has more than 15 years of experience in developing community-based products, working with hundreds of successful brands, thousands of creators and millions of fans around the world. To date, MEME tokens have subscribed for $15.8 million through two rounds of pre-sales, of which the first and second rounds sold 12.00% and 11.00% of the token supply to private investors and the Memeland community at a price of $0.001 per MEME, respectively.
Meme coins have been very popular recently, let's talk about a dramatic event that happened yesterday. The event started at 4 pm the day before yesterday, when a meme coin named after Elon Musk, $ELON, was launched. The initiator number 69420 of its consistent address is the American way of writing Musk's birthday (April 20, 1969).
As soon as this coin was launched, an influential foreign KOL (key leader) made $6,500 in the early stage of the business. It is worth mentioning that this KOL made $10 million from this coin alone after he started the coin last year. This time, his participation caused the market value of $ELON to soar from $1 million to $16 million in less than a day.
However, by yesterday afternoon, the market value had fallen back to $9 million. The KOL suddenly announced that he would not sell his $ELON coins unless the market value reached $1 billion. He even burned half of the $300,000 worth of $ELON coins, or $150,000, which immediately pushed the price of the coin up to $30 million. He predicted that the market value would reach $69 million that day, and market sentiment followed suit.
However, at 12:37 this morning, the KOL suddenly announced that he had sold all his $ELON coins and left a message saying “You are lazy”, causing the price of the coin to fall continuously.
The lesson of this incident is that when a currency is heavily promoted by influential people, it is not always a good thing. Because this influence may be weakened at any time, and the losers are often those ordinary investors who follow the trend. Therefore, it is crucial to maintain independent judgment when investing. I hope everyone can continue to make money in future investments while staying vigilant.
BONK
BONK is the first Dogecoin dedicated to contributing to the Solana ecosystem. At its inception, the BONK development team decided to donate 50% of the total supply to members of the Solana community through airdrops. This decision caused the team to reflect their dissatisfaction with the existing monetary economic model - especially the antipathy to the "Alameda" model that is considered toxic. The creators of BONK aim to create a meme currency that is both fun and fair, ensuring that every participant has equal opportunities in this emerging digital currency world.
In six months, the price of BONK has achieved an astonishing 4474.12% increase, which has attracted widespread attention in the market. In particular, its value has increased by 74.46% in the past. However, observing the performance of one month, the price has actually fallen by 3.76%. At present, the price of BONK fluctuates between $0.0000153 and $0.0000243, which shows that in addition to rising, the market also has falling dynamics, but the fluctuation is not drastic.
Looking ahead, BONK may move towards two extremes. On the one hand, as market interest continues to grow, BONK's price has the potential to climb to the next expected high of $0.0000277. However, investors need to remain stable, as the market is also likely to experience a pullback, at which point the price of $0.0000098 will become a key support level. BONK's future trend will be affected by the latest market updates and sentiment, and investors should pay close attention to relevant developments to make wise investment decisions.
Doge
Dogecoin, affectionately known as "Doge" or "Dogecoin," was launched on December 8, 2013 and runs on the Scrypt algorithm. It quickly became the second-largest cryptocurrency by number of users, second only to Bitcoin. Dogecoin's rise was rapid, thanks in large part to Reddit, where doggie-themed content quickly went viral. In just two weeks after its launch, Dogecoin was spreading across dedicated blogs and forums, reaching a market cap of $100 million by June 9, 2015.
One of Dogecoin's most admired features is its fair distribution model - there is no pre-mine. This, combined with its community-centric culture around charity and tipping, has made it popular with users, leading to a rapid growth in its user base. As of June 9, 2015, Dogecoin has 1.6 million client addresses (more than five times that of Litecoin), with 83,000 active addresses, compared to 196,000 for Bitcoin and 11,000 for Litecoin.
On social media, Dogecoin has an awe-inspiring presence. It has over 150,000 followers on Twitter, 1.7 times more than Bitcoin and 6 times more than Litecoin, and its Facebook likes are on par with Bitcoin and far exceed Litecoin. Even before it was listed on major platforms, Dogecoin has been among the top three cryptocurrencies in daily trading volume.
In the Internet age, the ultimate value lies in a huge network of users. In just one year after its launch, Dogecoin’s user base has grown to one-third of Bitcoin and four times that of Litecoin, illustrating its huge appeal and community-driven success.
Recently, DOGE's market performance has shown a similar consolidation pattern from March to April as it did from February to April 2021, suggesting that it could break out of its all-time highs next month and even support $1. This possibility is extremely compelling considering that DOGE has been in a consolidation state for more than 90% of the past time, and the pull-up usually only lasts for a few weeks. Especially now that DOGE has peeled off the bottom consolidation range that lasted for 3 years, the current profit and loss ratio also shows a very favorable investment outlook.
HIM
In the blockchain field, decentralized approaches to redefine centralized business models are essential, and exchanges are only part of this transformation. Traditional centralized exchanges face many risks, including regulatory pressure, hacker attacks, and the instability of the exchange itself, which are particularly prominent when the control of assets is not in the hands of users. In order to truly achieve internal and trusted transactions, decentralized exchanges (DEX) have become an integral part of the matrix in the crypto world.
Before Uniswap introduced the AMM (Automated Market Making) model, the DEX field mainly relied on traditional order books and over-the-counter market making models, which often failed to meet the needs of large-scale users in terms of transaction speed and transaction depth. In addition, these models also lack Uniswap's innovation not only improves the efficiency and accessibility of transactions, but also greatly enhances the attractiveness and functionality of DEX by introducing a liquidity provider incentive mechanism, thus setting a new standard for the decentralized financial ecosystem.
As a pioneer of decentralized exchanges, the UNI project team has been promoting its development. Currently, UNI is actively showing an upward trend, and its price is stable at $7.81. This provides a good entry point for investors to make a layout in anticipation of future growth potential. Continue to pay attention to its dynamics, the market outlook is optimistic, and it is expected to double in value.
Okay, this article ends here. Akan is committed to creating a high-quality theme that aims to explore cryptocurrencies with potential. In our communication, Akan will provide more in-depth market analysis and trading strategies. If you are interested in joining my circle, please contact Akan directly!
