Crypto market down again

Good time to jump in $BTC $FLOKI $PEPE

Traders Are Abandoning Meme Coins – What's Happening?

Since April 2024, the dominance of crypto memes in the altcoin market has significantly decreased! Signaling a potential shift in trader strategies, who might turn away from speculative trading to focus on fundamentals.
Memecoins are collapsing! Is it time to invest in fundamentals?
Data from CryptoQuant reveals a steady decline in the dominance of memecoins since September 2022, with a significant drop below 0.03 in May 2024. This trend suggests a shift towards a more fundamental approach to crypto investments! Similar to what was observed a few years ago.
Despite the decrease in dominance, the liquidity of memecoins has doubled since the beginning of the year. Reaching a historical peak of 128 million dollars in June. This indicates a complex evolution of the crypto market sentiment, despite recent corrections and massive sell-offs that followed.

Memecoins like Dogwifhat (WIF), Memecoin (MEME), and Book of Meme (BOME) have experienced liquidity growth ranging from 200% to 4000% in native units. However, the overall crypto market capitalization has fallen below 2.4 trillion dollars, with a notable decline for memecoins to 49.9 billion dollars.
Is the crypto market moving to a new stage?
This transition could reflect a growing maturity of the crypto market. Investors would seek assets with strong fundamentals, real utility, and significant market capitalization. Notable events of 2024, such as the memecoin frenzy on Solana (SOL) and increased institutional interest, could also play a role in this market dynamic.
The decrease in the dominance of memecoins could be an indicator of an evolving crypto market, where speculation gives way to a more rigorous analysis of fundamentals. This could mark the end of an era of meme-based trading and pave the way for a new phase of growth supported by more stable and economically sound assets.

Why is Crypto Down Today? BTC Price Below $63,000 Amid Market Pressures & Trader Liquidations

The cryptocurrency market experienced a significant downturn on Monday, June 24, 2024, as Bitcoin’s price plummeted below the $63,000 mark. This sudden drop led to the liquidation of over 60,000 traders and caused ripple effects throughout the crypto ecosystem.
Bitcoin, the world’s largest cryptocurrency by market capitalization, fell to a low of $62,634, marking its lowest point in several weeks.
The price decline resulted in more than $130 million in losses for traders in a single day. This sharp decrease caught many off guard, triggering a series of automatic liquidations on various trading platforms.
The recent price movement continues a downward trend that began last week. Bitcoin had reached a weekly high of $67,000 last Tuesday but has since experienced consistent bearish pressure. By Friday, the price had already dropped to $63,500, with the weekend seeing a brief stabilization around $64,000 before Monday’s significant decline.
Several factors appear to be contributing to this market correction.
One notable element is the decrease in whale transactions. Over the past two days, these large-scale transactions have dropped by 42%, falling from 17,091 to 9,923. This reduction in activity from major players in the market has likely contributed to the overall bearish sentiment.
There has been a wave of withdrawals from derivative exchanges. Some traders have adopted a “risk-off” approach, reducing their exposure by moving assets away from these platforms. The Interexchange-Flow-Pulse (IFP) indicator, which tracks Bitcoin movements between spot and derivative exchanges, has turned red, signaling a decline in market confidence.
Another factor putting pressure on Bitcoin’s price is the outflow from spot exchange-traded funds (ETFs). The previous week saw substantial withdrawals from these investment vehicles, contributing to the overall bearish trend in the market.

Brace for gains: July is a historically winning month for Bitcoin

June is a historically losing month for Bitcoin (BTC), a pattern repeating as the end of the month approaches. Conversely, July is a historically winning month, with primarily positive returns for investors who built long positions.
Finbold retrieved data from CoinGlass, highlighting Bitcoin’s monthly returns for the last 12 years since 2013. Notably, all nine months have had gains on their 12-year averages and medians except for June, August, and September.
This year’s June has not been different. As of this writing, BTC registers 5% losses month-to-date, just one week before it ends. On average, June brought 0.19% losses to Bitcoin traders and a median of 0.5% negative performance since 2013.

Historical pattern forecasts a nearly 10% surge for Bitcoin in July
On the other hand, July has a 7:11 winning ratio since 2013, with 2020 having the most positive returns. This month has previously marked the start of last cycle’s bull market with 24% gains from July 1 to 31, 2020.
Over the years, July has accumulated gains of 7.98% and 9.6% on average and median, respectively. If this pattern repeats, Bitcoin could surge from nearly 10% up to 25% in 31 days.
Interestingly, prominent cryptocurrency analyst Credible Crypto forecasts an impending 30-day impulse for BTC to $100,000. Other analysts have been eagerly awaiting a 4-month resistance range breakout at $72,000, eyeing the $83,000 level.
BTC could reach any of these targets in July, consolidating the historical winning month.
Bitcoin price analysis
In the meantime, Bitcoin trades at $64,260, testing the range’s support while trying to regain momentum. The leading cryptocurrency has accumulated 52.25% gains year-to-date.
If BTC remains trading at this level by the end of the month, a 10% to 25% rally could drive Bitcoin to $70,000 and up to $80,000 by July 31. A target aligned with other analysts’ projections.

The market’s anticipation of a possible Bitcoin (BTC) rebound seems to have been dampened, considering that indicators suggest further downside in the coming days.
In line with this, trading expert Alan Santana projected in a TradingView post on June 23 that investors should expect a ‘major low’ for Bitcoin before experiencing any rebound.
Turning to the timing of the next major low, Santana based his speculation on historical patterns. The analyst observed that it took exactly 48 days for Bitcoin to establish a major low after the all-time high. Using this pattern, he predicted two potential dates for the next low: July 8, 2024, and July 25, 2024.
The expert leaned towards the 8th of July because this is the ideal day when considering when Bitcoin printed its latest lower high.
Santana used TradingView’s index, which indicates that the bounce after the May 1 low ended on May 21, leading to the July 8 projection. If the last high is considered to be set on June 7, 2024, the date shifts to July 25, 2024.
The psychological impact
It’s worth noting that Santana initially based his analysis on the psychological barrier some investors face with Bitcoin’s high prices. He mentioned that a section of investors might not be willing to pay $70,000 for one BTC as they believe it is too expensive. However, he noted that while this doesn’t directly impact technical analysis, it is a factor to consider.
While emphasizing that prices can be misleading, Santana pointed out the importance of human psychology and market participants’ perceptions in predicting market behavior. According to the trading expert, understanding these psychological factors can aid in accurately forecasting market trends.
Bitcoin price analysis
At the time of reporting, Bitcoin was at $64,148, with weekly losses of almost 4% after losing the $66,000 mark earlier in the week.
Overall, Bitcoin’s key resistance is between $66,000 and $66,600, with significant support around $64,000 to $64,500, where the asset has found some stability. These levels remain the focus moving into the new week.

As PEPE Token Price Dips, A Strong New Competitor Emerges
Meme coin stalwart $PEPE has seen a relatively sharp decline in recent days, bleeding down close to 20% on the weekly chart. Still though, with an overall market cap of over 5 billion, it is a strong contender to overtake DOGE as the number 1 in the future. For now, its fate seems linked, if not directly tethered to the price action of Ethereum–which has also faltered this week.
This is the gamble traders take when they decide to purchase the top meme coin on the Ethereum blockchain. Despite market enthusiasm, Pepe’s price action is now, and forever will be mirroring the price of ETH. It’s for this reason that many traders have turned their attention towards a new meme coin called Pepe Unchained.
Pepe Got His Own Blockchain
After over 1 year of Pepe dominance on the Ethereum blockchain, someone has finally created a Layer 2 Pepe chain. In hindsight, it should have probably been done a long time ago, but the developers of Pepe Unchained may have created the future of meme coins with their Pepe Layer 2 solution.
As per the website
“Pepe Unchained is the future of meme coins. A Layer 2 blockchain built for Speed, Security, Low Fees–and of course–Memes.
$PEPU token powers the entire ecosystem. You’re early enough to witness a new golden age of Meme Coins. With Pepe in his rightful place as King, and the Pepe Unchained Layer 2– his Kingdom.”
In plain English, Pepe Unchained is improving upon the traditional Ethereum Layer 1 by improving speed, lowering fees, and creating $PEPU, a native token that powers the ecosystem.

Is Shiba Inu (SHIB) Price Set for a Bull Run?

The global cryptocurrency market is trying to recover, after a recent crash, with established coins like Ethereum and Bitcoin also experiencing the impact. Amid volatility, meme coins like Shiba Inu (SHIB) have also been affected by the turbulent market conditions. SHIB has faced challenges recently, with a notable 30% decrease in value on its charts over the last month. Investors are closely observing the development of the memecoin, especially following its recent drop and the factors that could suggest a potential uptrend. This article will explore in depth.

Shib is currently trading at $0.00001805, after experiencing a slight increase in value by 0.61%, in the past day. This follows a downward trend in a wider time frame, declining in price by 13.86% and 29.72% over the past week and month respectively.
Nevertheless, SHIB secures its position as the 11th largest cryptocurrency, boasting a market cap of $10.64 billion, according to CoinMarketCap. Shiba Inu is also experiencing a reduced trading activity, seeing a drop of 21% in its trading volume to reach $266.08 million, over the past 24 hours.
The circulation supply of the coin stands at 589.27 trillion SHIB.
Although Shiba Inu hit its all-time high of $0.00008845 on October 28, 2021, the price has since dropped by 79.7%.
Whale Movements and Burn Rate Impact
Recent whale activities have caught the attention of the SHIB community, sparking speculations about future price movements. A significant transaction was noted when a whale withdrew 2.2 billion SHIB, worth approximately $40 million, from Robinhood to an unknown wallet.

Top 5 AI Coins on Solana

As the crypto market continues to flourish every day, investors are keen on some of the best AI crypto tokens. At the same time, Solana has gained a lot of popularity because of its speed and scalability, making it a preferred platform for various projects including Artificial Intelligence (AI).
Solana Coins have been hot investment options in 2024. Moreover, AI coins on Solana are creating innovative solutions and transforming industries with their unique applications. In this article, we have listed the top 5 AI Coins on Solana that are making an exceptional boom in the market in 2024.

Top 5 AI Coins on Solana
Render:Decentralized GPU rendering with the creation of distributed network
The Graph:Indexing protocol for querying and extracting data with efficiency of 90%
Dither:AI technology with Predictive Analytics to optimize operations faster
Synesis One:Decentralized Platform for High-Quality Data Annotation with over 10,000 annotators
Nosana:Empowering DevOps with AI and Blockchain Integration by reducing 40% deployment time

You can find new meme coins early by using crypto market aggregators like CoinCodex. Then, you can analyze their on-chain activity through tools like Etherscan, DEXTools, DeBank, DexCheck, and Dune Analytics. Finally, it's usually a good idea to check social media platforms like X to evaluate the meme coin's community.
Even though crypto still hasn’t fully exited the bear market, the meme coin season is in full swing. We’ve seen dozens of new meme coin projects launch this year in hopes of becoming the next Pepecoin or Shiba Inu. Practically all popular memes now have a meme coin equivalent that’s looking to capitalize on the meme coin mania.
However, given the fast-paced developments in the meme space, it can be hard to capitalize on new trends. Most investors learn about new meme coins when they've already reached a critical mass of investors, and from that point on, it's difficult to see massive gains or any gains at all. When you find a new meme coin that you believe could be a good buy, it’s important to analyze it from multiple perspectives.
In this article, we’ll show you the tools you can use to identify new meme coins, analyze their on-chain activity, and evaluate their community. This approach will provide you with a lot of valuable information that will give you a better chance of picking winners.

Bitcoin is sending a warning that the stock market is about to sell off, Stifel says

Bitcoin's 10% sell-off since June 7 is sending a warning sign to the broader stock market, according to Stifel strategist Barry Bannister.
In a Wednesday note, Bannister highlighted the strong correlation between bitcoin and the Nasdaq 100 since 2020 as the cryptocurrency shares characteristics as a speculative risk-on asset more than it behaves like "digital gold."
But while bitcoin has traded lower in June to around the $65,000 level, the broader stock market continues to hit new record highs driven by gains in mega-cap tech stocks like Nvidia and Apple.
Bitcoin's inability to hit new record highs suggests the stock market is likely to play catch-up as it's set to decline in line with the cryptocurrency, according to the note.

Recently the weakening of bitcoin signals an imminent S&P 500 summer correction and consolidation phase," Bannister said.
Bannister isn't the only analyst on Wall Street taking stock market cues from bitcoin.
Fairlead Strategies founder Katie Stockton told CNBC on Monday that she, too, is tracking the broadening divergence between US tech stocks and bitcoin.
"When we see bitcoin pulling back in that framework and the Nasdaq 100 just forging higher, that concerns us to some degree, just short term," Stockton said. "We do sense that that divergence is something that will ultimately probably catch-up with the Nasdaq 100 Index as soon as people say 'well wait a second, Nvidia is maybe a little overstretched here."

Here’s Shiba Inu Price if Bitcoin Hits $1M as Predicted by Bernstein

Should Shiba Inu record a proportional price increase, its price could reach substantial levels if Bitcoin (BTC) clinches $1 million in 2033 as predicted by Bernstein.
Bitcoin has been underperforming over the past few days, recently dropping to a monthly low of $66,043. Despite a rebound from this floor, BTC remains at the lower spectrum of the $66,000 level. This market woes have impacted altcoins, with Shiba Inu seeing an equal price drop.
Bernstein Predicts BTC to Reach $1M
Most recently, market veteran Peter Brandt asserted that BTC might have already reached its peak for the cycle. This would mean that Bitcoin will fail to record any price spikes in the future, causing altcoins like Shiba Inu to remain at their current values for the rest of the cycle.

Shiba Inu Price if Bitcoin Hits $1M
Citing this prospect, we recently evaluated how much Shiba Inu would rally if it trailed Bitcoin’s price at the targets set by Bernstein. Notably, the $200,000 goal would require a 201% increase from Bitcoin’s current price of $66,273. If SHIB rises by a similar rate, its price would surge from the current $0.00002066 to $0.00006198, marking a new cycle top.

In addition, if Bitcoin clinches $1 million by 2033, it will have increased by 1,409% within nine years. A proportionate rise in Shiba Inu’s price would skyrocket to around $0.0003117. This price would take SHIB’s market cap to $183.6 billion, a valuation that some analysts would deem too low over a nine-year period.
For instance, analysts at Changelly predict that Shiba Inu could reach $0.0003 in September 2030, three years prior. However, for the year 2033, these analysts expect SHIB to clinch a maximum price of $0.000996 by December. Such a value would push Shiba Inu’s market cap to $586 billion.

Top 3 Solana Meme Coins for Lifelong Gains
Solana emerges as an ecosystem for trending meme coins.
Dogwifhat pulls back 60% from the all-time high, calling investors to buy the dip.
BOOK OF MEME stands out in the meme coin market, providing a library and storage for memes.
Bonk is also one of the top token

The meme cryptocurrency sector is known for its volatility and often speculative nature, posing a complex investment landscape for crypto enthusiasts. Despite these challenges, such assets have repeatedly demonstrated their potential, offering traders opportunities for significant gains. Recently, Solana meme coins such as Dogwifhat, Bonk, and Book of Meme have stood out as promising assets, showing potential for robust uptrends in the current market.

Top 3 Meme Coins To Buy Targeting 10,000% Appreciation: The Youth’s Top Choices

The current crypto landscape highlights three meme coins to buy with promising prospects: Dogwifhat (WIF), Floki (FLOKI), and Dogelon Mars (ELON). These cryptocurrencies attract the attention of younger investors, with forecasts suggesting significant growth potential. These tokens stand out as potentially lucrative investments amid a generally bearish market.

1. Meme Coins To Buy – Dogwifhat (WIF)
Dogwifhat (WIF), a trending meme token on the Solana network, has recently recorded notable growth. The meme coins market cap reached about $1.8 billion, placing it 41st in the global cryptocurrency rankings.
The canine-themed meme coin ignited market excitement with its impressive performance earlier in the year. Dogwifhat price is $1.81, supported by a trading volume of $388 million over the past 24 hours.

2. Floki (FLOKI)
Floki (FLOKI) has significantly expanded its role in the web3 space, moving beyond its meme coin roots. It now actively participates in various sectors like the Metaverse, decentralized finance (DeFi), and non-fungible tokens (NFTs). Dubbed “The People’s Crypto,” Floki integrates popular culture with groundbreaking digital innovations.

3. Dogelon Mars (ELON)
Dogelon Mars (ELON), a cryptocurrency inspired by dog-themed memes, is built on the Ethereum and Polygon networks. It utilizes the Ethereum ERC-20 token standard, a flexible framework that supports most tokens traded on the Ethereum blockchain. This has established a solid technical base for Dogelon Mars, making it a favored choice among meme coin enthusiasts.

37 Million Shiba Inu (SHIB) in 24 Hours, What's Happening?

Shiba Inu (SHIB) has finally witnessed a positive development amid the current bearish sentiment on the broader crypto market. SHIB's burn rate has surged 529.72% in the last 24 hours, per the latest data from Shibburn.
Moreover, around 37.53 million SHIB tokens have been burned during this time. This is an exciting update for the Shiba Inu community as this latest surge adds to the rising number of tokens being sent to dead wallets. As of this publication, around 410.7 trillion tokens have been burned from the initial circulation supply of the coin. Notably, the current supply of the meme coin is 583.3 trillion tokens. This continuous burning of Shiba Inu coins is a highly bullish move for a number of reasons.
Read more on U.Today https://u.today/37-million-shiba-inu-shib-in-24-hours-whats-happening

What does it mean for Shiba Inu price? Meanwhile, the current price of SHIB is still struggling, along with the broader market. According to CoinMarketCap, Shiba Inu is currently trading at $0.00001776, down 4.83% in the last 24 hours. The market cap of the meme coin is also down 4.82%, currently at $10.47 billion. While the latest surge in the burn rate has not helped the SHIB price, it is expected that it will leave a positive impact in the long-term. Sending 37.53 million tokens to dead wallets is part of a major effort. It needs to be a continuous process, which will eventually give a major boost to this highly popular meme coin.

Oops market is down

QI only 100M MC
$QI is mooning soon

After the Bonk and Floki rally, is Memeinator the next big thing?

Cryptocurrencies continued outperforming other asset classes in the past 12 months as the industry faced numerous tailwinds. Some of these important events were the approval of the first spot Bitcoin ETFs and the rising inflows from institutional investors. Also, there seems to be robust demand for token sales, as evidenced by Memeinator, which has raised over $5 million from investors.

Meme coin tokens have surged

As a result, the total market cap of all digital currencies has surged to over $2.25 trillion, with Bitcoin having a dominant role in the industry. Other big coins like Solana, BNB, Tron, and Avalanche have also done well.

Beneath the surface, several meme coins like Bonk, Floki Inu, Dogecoin, and Pepe have seen robust demand. Data shows that the total market cap of all meme coins has jumped to over $27 billion. Most of these tokens have almost doubled this year.

There are three main reasons why meme coins have surged this year. First, there are signs that investors have embraced a risk-on sentiment in the market. For example, in addition to cryptocurrencies, key American indices like the S&P 500 and Nasdaq 100 sit at their all-time highs.

Second, the stock and crypto fear and greed index have jumped to the extreme greed zone. In most periods, meme coins do well when a sense of greed is spreading in the market. This happens as investors embrace the so-called animal spirits.

Finally, meme coins have jumped because of the crucial role of retail traders in the market these days. Recent data shows that these traders are causing big moves in both crypto and the stock market.

For example, small companies like Bit Brother and Mullen Automotive have seen robust volume even though they have weak fundamentals. The same is happening in the crypto industry because of these meme coins’ low prices. For example, with just $50, one can buy hundreds of Bonk or Pepe coins.

$BONK is mooning

BTC up today $BTC $ETH $BNB

Floki is doing actual marketing

See today’s picture
$FLOKI