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$SHIB Is the SHIB price capable of rising to the $0.00003 level over the weekend?
A well-known meme coin in the cryptocurrency market, Shiba Inu (SHIB) is often compared to Dogecoin, all because the token's performance in 2024 has been quite remarkable.
At the beginning of the year, SHIB traded just below $0.000010, then the token underwent a significant surge, rising more than 450% to reach a yearly high of $0.000045 in mid-February. Although the current price is still 67.6% below the all-time high reached in 2021, the recent price movement suggests renewed interest and market sentiment towards memcoin.
SHIB is currently trading at around $0.00002776 after a period of consolidation. There is now uncertainty as to whether the token has sufficient fundamental support to lift its value beyond the psychologically important level at $0.00003 over the coming weekend.
How high will Shiba Inu be able to go this weekend?
In the last 24 hours, Shiba Inu's value has fallen 6% to $0.00002591, that's the data from CoinGecko.
According to analysts at Changelly, SHIB will trade at a low of $0.00002986 and a high of $0.00003448 this weekend. The forecast also emphasizes that SHIB could reach the 0.00003 level.
Historically, bitcoin's momentum has often served as a catalyst for price movements in other cryptocurrencies. The most significant rise in the SHIB price coincided with bitcoin reaching a new high near $73,000. Since bitcoin is considered a key indicator of overall market sentiment, its ability to overcome previous resistance levels often leads to an uptick in the overall market, especially for the more speculative altcoins.
However, relying solely on bitcoin's price behavior is not enough for future SHIB growth, especially in the absence of significant fundamental events.#altcoins #shiba⚡ #Megadrop #BTC☀ $SHIB
A well-known meme coin in the cryptocurrency market, Shiba Inu (SHIB) is often compared to Dogecoin, all because the token's performance in 2024 has been quite remarkable.
At the beginning of the year, SHIB traded just below $0.000010, then the token underwent a significant surge, rising more than 450% to reach a yearly high of $0.000045 in mid-February. Although the current price is still 67.6% below the all-time high reached in 2021, the recent price movement suggests renewed interest and market sentiment towards memcoin.
SHIB is currently trading at around $0.00002776 after a period of consolidation. There is now uncertainty as to whether the token has sufficient fundamental support to lift its value beyond the psychologically important level at $0.00003 over the coming weekend.
How high will Shiba Inu be able to go this weekend?
In the last 24 hours, Shiba Inu's value has fallen 6% to $0.00002591, that's the data from CoinGecko.
According to analysts at Changelly, SHIB will trade at a low of $0.00002986 and a high of $0.00003448 this weekend. The forecast also emphasizes that SHIB could reach the 0.00003 level.
Historically, bitcoin's momentum has often served as a catalyst for price movements in other cryptocurrencies. The most significant rise in the SHIB price coincided with bitcoin reaching a new high near $73,000. Since bitcoin is considered a key indicator of overall market sentiment, its ability to overcome previous resistance levels often leads to an uptick in the overall market, especially for the more speculative altcoins.
However, relying solely on bitcoin's price behavior is not enough for future SHIB growth, especially in the absence of significant fundamental events.#altcoins #shiba⚡ #Megadrop #BTC☀ $SHIB
Ranking of meme tokens by capitalization in May 2024
The place of the market leader is held by Dogecoin (DOGE). In May, the capitalization of this coin grew by 22.9% (to $23.59 billion). However, trading activity decreased by 12.5% (to $1.25 billion per day).
Created as a joke in 2013, this cryptocurrency became the progenitor of meme tokens. The DOGE token owes its popularity to Ilon Musk. The entrepreneur repeatedly mentioned the asset on Twitter (now - X), which caused an instant price increase. In 2022, it was even possible to buy a Tesla car for DOGE. Now the coin is used by many charitable organizations to collect donations.
In second place in terms of capitalization is Shiba Inu (SHIB). At the end of May, the total available supply of the asset was estimated at $15.21 billion. Growth for the month amounted to 15.6%. Trading activity increased by 41% (to $948.44 million).
The second most popular meme token was named after the breed of dog in the Dogecoin logo - the Shiba Inu. The developers sent almost half of the assets to Vitalik Buterin's wallet immediately after the coins were released. The remaining 589.26 trillion are in free circulation.
The third place in terms of capitalization among meme tokens is occupied by Pepe (PEPE). In May 2024, the value of all coins in circulation is $6.74 billion. The total trading volume on exchanges reaches $1.74 billion.
PEPE coin also leads the meme segment in terms of open interest in the futures market. In May 2024, the asset's figure is $812 million. This cryptocurrency is also ahead of other coins from the top 100 in terms of growth dynamics. Since the beginning of May, the price of PEPE has already increased by 144% (from $0.00000656 to $0.00001601).
The top 5 meme tokens by capitalization in May 2024 also include:
-- dogwifhat (WIF) - $3.65 billion.
-- FLOKI (FLOKI) - $2.86 bln.
#doge⚡ #FLOKI? #shiba⚡ #pepe⚡ #StartInvestingInCrypto $DOGE $FLOKI $SHIB
The place of the market leader is held by Dogecoin (DOGE). In May, the capitalization of this coin grew by 22.9% (to $23.59 billion). However, trading activity decreased by 12.5% (to $1.25 billion per day).
Created as a joke in 2013, this cryptocurrency became the progenitor of meme tokens. The DOGE token owes its popularity to Ilon Musk. The entrepreneur repeatedly mentioned the asset on Twitter (now - X), which caused an instant price increase. In 2022, it was even possible to buy a Tesla car for DOGE. Now the coin is used by many charitable organizations to collect donations.
In second place in terms of capitalization is Shiba Inu (SHIB). At the end of May, the total available supply of the asset was estimated at $15.21 billion. Growth for the month amounted to 15.6%. Trading activity increased by 41% (to $948.44 million).
The second most popular meme token was named after the breed of dog in the Dogecoin logo - the Shiba Inu. The developers sent almost half of the assets to Vitalik Buterin's wallet immediately after the coins were released. The remaining 589.26 trillion are in free circulation.
The third place in terms of capitalization among meme tokens is occupied by Pepe (PEPE). In May 2024, the value of all coins in circulation is $6.74 billion. The total trading volume on exchanges reaches $1.74 billion.
PEPE coin also leads the meme segment in terms of open interest in the futures market. In May 2024, the asset's figure is $812 million. This cryptocurrency is also ahead of other coins from the top 100 in terms of growth dynamics. Since the beginning of May, the price of PEPE has already increased by 144% (from $0.00000656 to $0.00001601).
The top 5 meme tokens by capitalization in May 2024 also include:
-- dogwifhat (WIF) - $3.65 billion.
-- FLOKI (FLOKI) - $2.86 bln.
#doge⚡ #FLOKI? #shiba⚡ #pepe⚡ #StartInvestingInCrypto $DOGE $FLOKI $SHIB
Media: spot Ethereum-ETF issuers have until May 31 to submit corrected filings
-- Media reports that the SEC has reached out to issuers of spot Ethereum-ETFs.
-- The SRegulator has asked those counterparties whose Form 19b-4 filings were previously approved to file amended S-1s.
-- SRegulators have until May 31 inclusive to do so.
The US Securities and Exchange Commission (SEC) has asked issuers of spot Ethereum-ETFs to file amended S-1 filings up to and including May 31, 2024. This was reported by The Block, citing its sources.
After that, as one of the publication's interlocutors noted, it is likely that the Commission will check the papers and leave new comments. At this stage, issuers are required to make minimal edits, The Block emphasized.
Moreover, two companies have already filed new Form S-1 filings. They are VanEck and BlackRock.
The publication's interlocutors noted that several rounds of such edits will be required before final approval of the products. This could take several weeks to months.
In a comment regarding the corrected S-1 application from BlackRock, Bloomberg Intelligence expert Eric Balchunas noted that trading on spot Ethereum-ETFs may start in early July 2024.
Recall, the issuers of these exchange-traded funds received partial approval from the Commission on May 23, 2024. The regulator approved the Form 19b-4 (rule change) filings of eight counterparties.
Ethereum (ETH) has not reacted to this news in any way. All this week, from May 27 to May 31, 2024, the asset trades with a slight minus, which can be explained by the previous jump on the background of the SEC's decision#ETHETFsApproved #ETH🔥🔥🔥🔥 $ETH
-- Media reports that the SEC has reached out to issuers of spot Ethereum-ETFs.
-- The SRegulator has asked those counterparties whose Form 19b-4 filings were previously approved to file amended S-1s.
-- SRegulators have until May 31 inclusive to do so.
The US Securities and Exchange Commission (SEC) has asked issuers of spot Ethereum-ETFs to file amended S-1 filings up to and including May 31, 2024. This was reported by The Block, citing its sources.
After that, as one of the publication's interlocutors noted, it is likely that the Commission will check the papers and leave new comments. At this stage, issuers are required to make minimal edits, The Block emphasized.
Moreover, two companies have already filed new Form S-1 filings. They are VanEck and BlackRock.
The publication's interlocutors noted that several rounds of such edits will be required before final approval of the products. This could take several weeks to months.
In a comment regarding the corrected S-1 application from BlackRock, Bloomberg Intelligence expert Eric Balchunas noted that trading on spot Ethereum-ETFs may start in early July 2024.
Recall, the issuers of these exchange-traded funds received partial approval from the Commission on May 23, 2024. The regulator approved the Form 19b-4 (rule change) filings of eight counterparties.
Ethereum (ETH) has not reacted to this news in any way. All this week, from May 27 to May 31, 2024, the asset trades with a slight minus, which can be explained by the previous jump on the background of the SEC's decision#ETHETFsApproved #ETH🔥🔥🔥🔥 $ETH
Bitcoin is trying to get closer to $68,500
The cryptocurrency market is adding minimally on Friday. At the time of publishing this review, bitcoin (BTC) was trading at $68,386.
Ether (ETH) rose to $3743 due to low activity of Asian traders. Dogecoin (DOGE), Cardano (ADA) and Toncoin (TON) are rising in value.
U.S. stock futures also declined moderately during Asia-Pacific trading as investors reassess strategy ahead of the release of inflation data, CNBC reported.
Futures on the S&P 500 and Nasdaq fell 0.3 percent. Trading in the U.S. the day before ended with the Dow Jones indicator sagging more than 300 points.
Capital also withdrew from the shares of technology companies, the performance of which is reflected in the stock indexes S & P 500 and Nasdaq.
In the market of spot bitcoin-ETF there was a redistribution of capital in favor of the IBIT fund from BlackRock. Now it has become the largest holder of BTC, while GBTC from Grayscale dropped to the second place.
IBIT manages $19.68 billion worth of digital currency, while GBTC accumulated $19.65 billion worth of bitcoins, Bloomberg reports.
Since the launch of exchange-traded cryptofunds ETFs investing in BTC, the volume of capital investments in such instruments amounted to $58.5 billion.#BTC☀ #bitcoin☀️ #etherreum #ETHETFsApproved #btc70k $BTC $ETH
The cryptocurrency market is adding minimally on Friday. At the time of publishing this review, bitcoin (BTC) was trading at $68,386.
Ether (ETH) rose to $3743 due to low activity of Asian traders. Dogecoin (DOGE), Cardano (ADA) and Toncoin (TON) are rising in value.
U.S. stock futures also declined moderately during Asia-Pacific trading as investors reassess strategy ahead of the release of inflation data, CNBC reported.
Futures on the S&P 500 and Nasdaq fell 0.3 percent. Trading in the U.S. the day before ended with the Dow Jones indicator sagging more than 300 points.
Capital also withdrew from the shares of technology companies, the performance of which is reflected in the stock indexes S & P 500 and Nasdaq.
In the market of spot bitcoin-ETF there was a redistribution of capital in favor of the IBIT fund from BlackRock. Now it has become the largest holder of BTC, while GBTC from Grayscale dropped to the second place.
IBIT manages $19.68 billion worth of digital currency, while GBTC accumulated $19.65 billion worth of bitcoins, Bloomberg reports.
Since the launch of exchange-traded cryptofunds ETFs investing in BTC, the volume of capital investments in such instruments amounted to $58.5 billion.#BTC☀ #bitcoin☀️ #etherreum #ETHETFsApproved #btc70k $BTC $ETH
How options expiration will affect BTC and ETH
The notional value of the 69,179 BTC and 908,754 ETH contracts expiring soon is $4.7 billion and $3.4 billion, respectively. Let's see if the expiry can provoke increased volatility in the market and affect the price of the two largest cryptocurrencies by capitalization.
Options traders overestimated the strength of the bulls
According to Deribit, the put/call options ratio on BTC is holding steady at 0.61. This means that traders are still maintaining a bullish bias, and the number of calls, or long contracts, outnumber puts, or short contracts. The maximum pain point - that is, the price at which the asset will cause financial losses to the largest number of holders - is at $66 thousand.
However, given the bulls' inability to break above the $70,000 resistance, traders' optimism may be overdone. 91% of contracts were placed at or above $72,000, which means that holders were counting on a sustained rally.
What will happen to the BTC price amid the expiration
Bitcoin's price briefly rose above $70,000 this week amid renewed inflows into spot ETFs. However, the asset was unable to hold its ground and open the way for a new rally. At the time of writing, BTC is trading at $68,300, having added 0.6% over the past 24 hours.
Ethereum's dynamics are also unexpressive: despite the long-awaited approval of eight spot ETFs on ETH, the second most capitalized cryptocurrency still can't get back to $4,000.
Predicting how the market will behave on the day of expiration of a large number of contracts is quite difficult - especially if any events affecting the news background are added to it. Nevertheless, traders should keep a close eye on the situation so that the increased volatility does not lead to unwanted triggering of stop loss orders or making wrong trading decisions.#BTC☀ #btc70k #ETH🔥🔥🔥🔥 $BTC $ETH
The notional value of the 69,179 BTC and 908,754 ETH contracts expiring soon is $4.7 billion and $3.4 billion, respectively. Let's see if the expiry can provoke increased volatility in the market and affect the price of the two largest cryptocurrencies by capitalization.
Options traders overestimated the strength of the bulls
According to Deribit, the put/call options ratio on BTC is holding steady at 0.61. This means that traders are still maintaining a bullish bias, and the number of calls, or long contracts, outnumber puts, or short contracts. The maximum pain point - that is, the price at which the asset will cause financial losses to the largest number of holders - is at $66 thousand.
However, given the bulls' inability to break above the $70,000 resistance, traders' optimism may be overdone. 91% of contracts were placed at or above $72,000, which means that holders were counting on a sustained rally.
What will happen to the BTC price amid the expiration
Bitcoin's price briefly rose above $70,000 this week amid renewed inflows into spot ETFs. However, the asset was unable to hold its ground and open the way for a new rally. At the time of writing, BTC is trading at $68,300, having added 0.6% over the past 24 hours.
Ethereum's dynamics are also unexpressive: despite the long-awaited approval of eight spot ETFs on ETH, the second most capitalized cryptocurrency still can't get back to $4,000.
Predicting how the market will behave on the day of expiration of a large number of contracts is quite difficult - especially if any events affecting the news background are added to it. Nevertheless, traders should keep a close eye on the situation so that the increased volatility does not lead to unwanted triggering of stop loss orders or making wrong trading decisions.#BTC☀ #btc70k #ETH🔥🔥🔥🔥 $BTC $ETH
PayPal has launched its stablecoin on Solana💰
PayPal's PYUSD stablecoin has been launched on the Solana network
Previously, PYUSD worked only on Ethereum💰#StartInvestingInCrypto #SolanaUSTD #SOLUSDT! #Solana_Blockchain
PayPal's PYUSD stablecoin has been launched on the Solana network
Previously, PYUSD worked only on Ethereum💰#StartInvestingInCrypto #SolanaUSTD #SOLUSDT! #Solana_Blockchain
💎 Notcoin shared on-chain metrics, indicating they have 1.6 million token holders
On-chain holders are those who store their assets not on CEX exchanges but directly on the blockchain.
In this case, $NOT holders store their tokens on the TON blockchain. Essentially, the number of on-chain holders does not directly influence the market cap and token price. Still, it's an important metric for the project.#NOT🔥🔥🔥 #Notcoin👀🔥 $NOT
CryptoIn
On-chain holders are those who store their assets not on CEX exchanges but directly on the blockchain.
In this case, $NOT holders store their tokens on the TON blockchain. Essentially, the number of on-chain holders does not directly influence the market cap and token price. Still, it's an important metric for the project.#NOT🔥🔥🔥 #Notcoin👀🔥 $NOT
CryptoIn
Solana (SOL): where the potential bearish threat lies
The Solana (SOL) price is undergoing a short-term correction, which caused the altcoin to lose the chance to reach the $200 mark
Despite the correction, there is a possibility that Solana (SOL) price will start rising again as the market is giving mixed signals.
Solana is set to move sideways
The price of the Solana project token fell to $166 at the time of writing, dropping below the critical $169 mark. This has reinforced the bearish bias, as seen in the moving average convergence-divergence indicator (MACD).
MACD is a momentum indicator that compares the dynamics of the 12-day and 26-day exponential moving averages (EMA). The index consists of two lines, the MACD line and the signal line. When the short-term moving average goes below the long-term moving average, it is considered a sell signal. Solana formed the first bearish crossover in almost four weeks, which is not a good sign for the price.
Additionally, the altcoin has a very high correlation (0.93) with bitcoin. This can be both an advantage and a disadvantage for SOL. The BTC rally plays into Solana's hands. However, if BTC falls, SOL could also be at risk. Currently, the latter option seems more likely. This is because bitcoin recently lost critical support at $68,500 and could continue to fall.#SolanaUSTD #altcoins #Solana_Blockchain
The Solana (SOL) price is undergoing a short-term correction, which caused the altcoin to lose the chance to reach the $200 mark
Despite the correction, there is a possibility that Solana (SOL) price will start rising again as the market is giving mixed signals.
Solana is set to move sideways
The price of the Solana project token fell to $166 at the time of writing, dropping below the critical $169 mark. This has reinforced the bearish bias, as seen in the moving average convergence-divergence indicator (MACD).
MACD is a momentum indicator that compares the dynamics of the 12-day and 26-day exponential moving averages (EMA). The index consists of two lines, the MACD line and the signal line. When the short-term moving average goes below the long-term moving average, it is considered a sell signal. Solana formed the first bearish crossover in almost four weeks, which is not a good sign for the price.
Additionally, the altcoin has a very high correlation (0.93) with bitcoin. This can be both an advantage and a disadvantage for SOL. The BTC rally plays into Solana's hands. However, if BTC falls, SOL could also be at risk. Currently, the latter option seems more likely. This is because bitcoin recently lost critical support at $68,500 and could continue to fall.#SolanaUSTD #altcoins #Solana_Blockchain
$ETH Cointelegraph experts told about Ethereum's drawdown
On Monday, May 27, the main altcoin made a determined attempt to break through the $3934 area. Alas, but buyers failed to realize its potential. Then a deep correction started, in which ether is still in. Cointelegraph representatives commented on this situation and told about the reasons why the bearish trend is developing.
They believe that the key factor was a sharp rise in the yield of U.S. Treasury bonds. This provoked an increase in demand from investors and shifted their attention to the traditional asset. Also, traders began to doubt that the Federal System will be ready to soften monetary policy in the near future. This point of view is confirmed by recently published minutes of the last Fed meeting. From them it follows that many officials took a rather radical position. Of course, they noted that inflation in the U.S. has shown a clear decline in recent months. But, according to the officials, there is no reason to say that it is ready to slow down to the target 2% yet.
In parallel, sell-offs by large investors are putting significant pressure on price dynamics. Onchain metrics show that holders with balances between 1 and 10 million ETH have gotten rid of 1% of their holdings over the past 24 hours. It is noteworthy that investors with assets from 100 thousand to 1 million ETH are also massively increasing their supply. If we evaluate the market situation from a technical point of view, global Ethereum is in a bullish trend.
Specialists note the area of $3600 as a key support level. In their opinion, now market participants need to closely monitor the price reaction to this support zone. If quotes break below this mark, a deep drawdown up to the border of $3300 may start.#ETH🔥🔥🔥🔥 $ETH #ETHUSDT
On Monday, May 27, the main altcoin made a determined attempt to break through the $3934 area. Alas, but buyers failed to realize its potential. Then a deep correction started, in which ether is still in. Cointelegraph representatives commented on this situation and told about the reasons why the bearish trend is developing.
They believe that the key factor was a sharp rise in the yield of U.S. Treasury bonds. This provoked an increase in demand from investors and shifted their attention to the traditional asset. Also, traders began to doubt that the Federal System will be ready to soften monetary policy in the near future. This point of view is confirmed by recently published minutes of the last Fed meeting. From them it follows that many officials took a rather radical position. Of course, they noted that inflation in the U.S. has shown a clear decline in recent months. But, according to the officials, there is no reason to say that it is ready to slow down to the target 2% yet.
In parallel, sell-offs by large investors are putting significant pressure on price dynamics. Onchain metrics show that holders with balances between 1 and 10 million ETH have gotten rid of 1% of their holdings over the past 24 hours. It is noteworthy that investors with assets from 100 thousand to 1 million ETH are also massively increasing their supply. If we evaluate the market situation from a technical point of view, global Ethereum is in a bullish trend.
Specialists note the area of $3600 as a key support level. In their opinion, now market participants need to closely monitor the price reaction to this support zone. If quotes break below this mark, a deep drawdown up to the border of $3300 may start.#ETH🔥🔥🔥🔥 $ETH #ETHUSDT
$PEPE PEPE-kit earns almost $ 5 million in a month
A whale, or large holder of memecoin, earned nearly $5 million in profits on the Pepe token during the month. Could the price of Pepe continue to rise due to another wave of retail interest?
PEPE whale earns almost $ 5 million in one month
An experienced memecoin whale earned $4.95 million in a month, representing a 52% return on their initial investment, despite Pepe's price falling more than 17% from its all-time high.
Keith has moved all of his PEPE assets to the Binance wallet, according to a report from Lookonchain published on May 30 X, which stated:
“In the last 10 minutes, a whale has transferred all 660.7 billion that PEPE ($9.52 million) bought a month ago to Binance, earning ~$4.95 million at an ROI of 52%.”
After moving Pepe to Binance for more than $9.5 million, the whale wallet “0x546” is now worth just $161,449 in cryptocurrency, with more than 96% of assets consisting of composite tokens (COMPs), according to Coinstats.
After a period of explosive growth for memecoin, investor interest has waned slightly. The total trading volume of memecoins fell more than 21% in the last 24 hours to $10.2 billion, down from more than $13 billion on May 28, according to CoinMarketCap data.
The price of Pepe fell more than 4.4% in the 24 hours leading up to 13: 45 GMT to $ 0.00001437, according to TradingView. The token was down more than 17% from its all-time high.#pepe⚡ #altcoins
A whale, or large holder of memecoin, earned nearly $5 million in profits on the Pepe token during the month. Could the price of Pepe continue to rise due to another wave of retail interest?
PEPE whale earns almost $ 5 million in one month
An experienced memecoin whale earned $4.95 million in a month, representing a 52% return on their initial investment, despite Pepe's price falling more than 17% from its all-time high.
Keith has moved all of his PEPE assets to the Binance wallet, according to a report from Lookonchain published on May 30 X, which stated:
“In the last 10 minutes, a whale has transferred all 660.7 billion that PEPE ($9.52 million) bought a month ago to Binance, earning ~$4.95 million at an ROI of 52%.”
After moving Pepe to Binance for more than $9.5 million, the whale wallet “0x546” is now worth just $161,449 in cryptocurrency, with more than 96% of assets consisting of composite tokens (COMPs), according to Coinstats.
After a period of explosive growth for memecoin, investor interest has waned slightly. The total trading volume of memecoins fell more than 21% in the last 24 hours to $10.2 billion, down from more than $13 billion on May 28, according to CoinMarketCap data.
The price of Pepe fell more than 4.4% in the 24 hours leading up to 13: 45 GMT to $ 0.00001437, according to TradingView. The token was down more than 17% from its all-time high.#pepe⚡ #altcoins
Why Dogecoin (DOGE) is not growing
Let's find out what factors are holding back the strengthening of Dogecoin (DOGE), despite the general rally of altcoins
The value of Dogecoin (DOGE) is under pressure from several unfavorable factors: lower intraday demand and negative sentiment continue to haunt the coin.
Dogecoin is in the crosshairs of sellers
The price of the memcoin rose to a local high of $0.17 (May 26), but then pulled back from it. This drawdown is due to a drop in demand for the token during this period. The intraday number of addresses making transactions with DOGE decreased by 9%. The daily number of unique transactions decreased by 5%.
Investors are generally negative about DOGE, leading to a decline in the number of active addresses on the network. Pessimism followed the asset throughout most of the month. At the time of publication this indicator was -0.71. The negative value indicates the prevalence of negative comments about memcoin in social networks.
#doge⚡ #DOGEUSDT! $DOGE
Let's find out what factors are holding back the strengthening of Dogecoin (DOGE), despite the general rally of altcoins
The value of Dogecoin (DOGE) is under pressure from several unfavorable factors: lower intraday demand and negative sentiment continue to haunt the coin.
Dogecoin is in the crosshairs of sellers
The price of the memcoin rose to a local high of $0.17 (May 26), but then pulled back from it. This drawdown is due to a drop in demand for the token during this period. The intraday number of addresses making transactions with DOGE decreased by 9%. The daily number of unique transactions decreased by 5%.
Investors are generally negative about DOGE, leading to a decline in the number of active addresses on the network. Pessimism followed the asset throughout most of the month. At the time of publication this indicator was -0.71. The negative value indicates the prevalence of negative comments about memcoin in social networks.
#doge⚡ #DOGEUSDT! $DOGE
Solana (SOL) dominates Ethereum (ETH): Glassnode co-founder
According to Glassnode co-founder Jann Allemann, capital rotation in the cryptocurrency market has begun.
Allemann noted that Solana (SOL) is currently dominating Ethereum (ETH). His assessment was made after the former rose by about 10% over the latter since May 27.
The SOL / ETH pair has declined significantly following the approval of several spot Ethereum exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) earlier this month. On May 27, the price of Ethereum hit a high of $3,973 on the Bitstamp exchange. However, the excitement around the much-coveted SEC approval quickly dissipated and ETH lost 7% in a matter of days. The SEC has yet to approve the S-1 registration statements to launch these ETFs.
At the same time, bitcoin's market dominance has fallen more than 4% since May 6 after breaking the 56% mark.
Once a particular cryptocurrency rises, it tends to fall while traders lock in profits and bet on other assets. Cryptocurrency capital rotation can also occur internally, meaning that the same cryptocurrency is purchased at different prices.
Despite the recent weakness, Bitcoin has still kept pace with Ethereum since the beginning of the year. The two cryptocurrencies are up 77.71% and 79.38% respectively.
#solusdt #Solana_Blockchain #Megadrop
According to Glassnode co-founder Jann Allemann, capital rotation in the cryptocurrency market has begun.
Allemann noted that Solana (SOL) is currently dominating Ethereum (ETH). His assessment was made after the former rose by about 10% over the latter since May 27.
The SOL / ETH pair has declined significantly following the approval of several spot Ethereum exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) earlier this month. On May 27, the price of Ethereum hit a high of $3,973 on the Bitstamp exchange. However, the excitement around the much-coveted SEC approval quickly dissipated and ETH lost 7% in a matter of days. The SEC has yet to approve the S-1 registration statements to launch these ETFs.
At the same time, bitcoin's market dominance has fallen more than 4% since May 6 after breaking the 56% mark.
Once a particular cryptocurrency rises, it tends to fall while traders lock in profits and bet on other assets. Cryptocurrency capital rotation can also occur internally, meaning that the same cryptocurrency is purchased at different prices.
Despite the recent weakness, Bitcoin has still kept pace with Ethereum since the beginning of the year. The two cryptocurrencies are up 77.71% and 79.38% respectively.
#solusdt #Solana_Blockchain #Megadrop
$BTC Peter Schiff criticized bitcoin supporters
An economist and popular bitcoin critic published a post on social media where he criticized the holders of the flagship cryptocurrency. He described a hypothetical scenario in which all American companies sell off their assets and cease operations. In a joking manner, he advised organizations to invest all proceeds in bitcoin purchases. In his opinion, only then can bitcoin demonstrate sustainable growth and enrich its investors.
One of the users noted that, yes, in this case, crypto-enthusiasts will get rich, but Schiff himself - no. But the economist objected, noting that he too will receive his dividends on the realization of such a scenario. The specialist explained that he invested most of his funds in the shares of oil companies. And if U.S. organizations sell off their businesses, industry securities will soar in value.
Schiff further noted that the scenario he described would certainly enrich bitcoin investors. But it makes no sense, as all goods and services will simply disappear from the global market and there will be nothing to own. This position of the expert no longer surprises anyone, as he has long been a systemic critic not only of bitcoin, but also of the entire cryptoindustry. Schiff in every way encourages his subscribers to invest in traditional assets, believing that digital coins are devoid of a future.
Many users parry the thesis of the economist, noting how much bitcoin has risen in price since its appearance on the global market. Also, many subscribers point out that the Internet used to be perceived as “geek entertainment.” However, it is now playing a crucial role in the development of humanity and people's interaction with each other.
#btc70k #altcoins #EarnFreeCrypto2024 $BTC
An economist and popular bitcoin critic published a post on social media where he criticized the holders of the flagship cryptocurrency. He described a hypothetical scenario in which all American companies sell off their assets and cease operations. In a joking manner, he advised organizations to invest all proceeds in bitcoin purchases. In his opinion, only then can bitcoin demonstrate sustainable growth and enrich its investors.
One of the users noted that, yes, in this case, crypto-enthusiasts will get rich, but Schiff himself - no. But the economist objected, noting that he too will receive his dividends on the realization of such a scenario. The specialist explained that he invested most of his funds in the shares of oil companies. And if U.S. organizations sell off their businesses, industry securities will soar in value.
Schiff further noted that the scenario he described would certainly enrich bitcoin investors. But it makes no sense, as all goods and services will simply disappear from the global market and there will be nothing to own. This position of the expert no longer surprises anyone, as he has long been a systemic critic not only of bitcoin, but also of the entire cryptoindustry. Schiff in every way encourages his subscribers to invest in traditional assets, believing that digital coins are devoid of a future.
Many users parry the thesis of the economist, noting how much bitcoin has risen in price since its appearance on the global market. Also, many subscribers point out that the Internet used to be perceived as “geek entertainment.” However, it is now playing a crucial role in the development of humanity and people's interaction with each other.
#btc70k #altcoins #EarnFreeCrypto2024 $BTC
➡️ Bitcoin slipped in price after the news about moving bitcoins of the bankrupt Mt. Gox exchange - market participants fear that the exchange's clients, having received compensation worth billions of dollars, will start selling them, influencing the market
➡️Price of the bitcoin at the moment fell to $67.5 thousand after rising to $70 thousand the day before.
➡️On according to Coinglass, the volume of long liquidations on crypto exchanges has reached $30 million in the last 4 hours
#btc70k #altcoins #ETHETFsApproved
➡️Price of the bitcoin at the moment fell to $67.5 thousand after rising to $70 thousand the day before.
➡️On according to Coinglass, the volume of long liquidations on crypto exchanges has reached $30 million in the last 4 hours
#btc70k #altcoins #ETHETFsApproved
Over the past 24 hours the price of the Bitcoin has dropped a bit.
The price still broke through the trend line 🕯, which acted as support. It happened with great effort, and we do not see the impulse down.
The fake "head and shoulders" pattern is moving into a sideways movement 📊 There is also a high probability that in time this situation will turn into growth.
Now my mood on the market is moderately bullish, as the price may move sideways for some time 🕯#altcoins #btc70k #BinanceLaunchpool #BlackRock #ETHETFsApproved
The price still broke through the trend line 🕯, which acted as support. It happened with great effort, and we do not see the impulse down.
The fake "head and shoulders" pattern is moving into a sideways movement 📊 There is also a high probability that in time this situation will turn into growth.
Now my mood on the market is moderately bullish, as the price may move sideways for some time 🕯#altcoins #btc70k #BinanceLaunchpool #BlackRock #ETHETFsApproved
BTC_UPDATE
As anticipated in our previous update, the market followed a bearish trajectory after rejecting from the 70k-71k resistance zone. The price action confirmed our expectations with a short-term consolidation around the 66k level, followed by a move upward to take liquidity above the 70k level. After this liquidity grab, the market began to fall, aligning with our forecast.
Currently, the market is expected to consolidate between 67k to 69k in the short term. Traders should note that there is still significant liquidity above the 72k level, which might attract price action in the future. However, caution is advised as the market may exhibit volatile movements within this range.
As anticipated in our previous update, the market followed a bearish trajectory after rejecting from the 70k-71k resistance zone. The price action confirmed our expectations with a short-term consolidation around the 66k level, followed by a move upward to take liquidity above the 70k level. After this liquidity grab, the market began to fall, aligning with our forecast.
Currently, the market is expected to consolidate between 67k to 69k in the short term. Traders should note that there is still significant liquidity above the 72k level, which might attract price action in the future. However, caution is advised as the market may exhibit volatile movements within this range.
BlackRock filed an amended application for a spot Ethereum-ETF on Form S-1
BlackRock filed an amended application for a spot Ethereum-ETF on Form S-1
-- BlackRock has filed an amended Form S-1 filing with the SEC.
-- In it, the company disclosed its initial investment in the fund and listed its ticker symbol as ETHA.
-- Eric Balchunas said that's a good sign.
-- He projected the spot Ethereum-ETF to begin trading in late June or early July.
BlackRock has filed an amended Form S-1 application with the SEC to launch a spot Ethereum-ETF. Bloomberg Intelligence analyst Eric Balchunas considers this a positive signal.
There are no significant changes in the securities, as the vendor had previously already excluded steaking. However, the amended filing discloses information about the initial investment in the ETF.
According to the filing, it is an affiliate of BlackRock. That counterparty bought 400,000 shares at $25, the filing says. Consequently, the initial capital of the spot Ethereum-ETF from the company will be $10 million.
The applicant has also notified the SEC that the product will be listed under the ticker ETHA.#BlackRock #etherreum
-- BlackRock has filed an amended Form S-1 filing with the SEC.
-- In it, the company disclosed its initial investment in the fund and listed its ticker symbol as ETHA.
-- Eric Balchunas said that's a good sign.
-- He projected the spot Ethereum-ETF to begin trading in late June or early July.
BlackRock has filed an amended Form S-1 application with the SEC to launch a spot Ethereum-ETF. Bloomberg Intelligence analyst Eric Balchunas considers this a positive signal.
There are no significant changes in the securities, as the vendor had previously already excluded steaking. However, the amended filing discloses information about the initial investment in the ETF.
According to the filing, it is an affiliate of BlackRock. That counterparty bought 400,000 shares at $25, the filing says. Consequently, the initial capital of the spot Ethereum-ETF from the company will be $10 million.
The applicant has also notified the SEC that the product will be listed under the ticker ETHA.#BlackRock #etherreum
PEPE Price predictoon
PEPE Price Prediction: Big Rally Coming as Daily Trading Volume Exceeds DogWifHat?
PEPE has fallen 3.86% in 24 hours to $0.00001509 amid a crypto market pullback.
After a brief setback, PEPE gained 26.30% weekly, extending its 126.30% monthly gain.
PEPE outperformed BTC, ETH, and SOL last year with a 1,135.41% gain.
This high performance suggests PEPE investor interest is broad.
PEPE's 24-hour trading volume hit $2.50 billion, exceeding DogWifHat's $821 million, suggesting a rebound despite the price fall.
The meme coin's 24-hour trading volume rose to $2.50B last week, suggesting a comeback.
Returning from All-Time High, Pepe May Rally?
After falling early this morning, PEPE may be rallying.
Technical analysis of PEPE pricing. Source: Binance.
In the previous 24 hours, its purple relative strength index fell from 65 to 15. PEPE is oversold, suggesting it may be cheap and ready to rise.
PEPE just fell below its week-long positive trendline (Yellow), indicating diminishing bullish momentum. If this slump continues, it may suggest a downtrend.
The meme coin's 30-day moving average (orange) is rising above the 200-day (blue), extending last week's pattern. The lack of a significant crossing below the 200-day average signals a continuing rising.
This negative price activity may indicate a short-term correction in an uptrend. If the price rebounds rapidly and gets above the trendline, the uptrend may continue.
PEPE's trade volume rose 12% last week to 2.50B, supporting this stance. Trader interest has surged.
At $821.07M, Pepe's 24-hour volume surpasses DogWifHat's. With WIF down 8.71% in the previous month, traders are switching to PEPE, which is still rising.
When the market starts up, PEPE may see higher price rises. This might happen next month when the freshly authorized Ethereum ETFs debut. In anticipation of large inflows, Pepe may require a brief adjustment.
#PEPE $PEPE #altcoins #binance #ETHETFsApproved
PEPE has fallen 3.86% in 24 hours to $0.00001509 amid a crypto market pullback.
After a brief setback, PEPE gained 26.30% weekly, extending its 126.30% monthly gain.
PEPE outperformed BTC, ETH, and SOL last year with a 1,135.41% gain.
This high performance suggests PEPE investor interest is broad.
PEPE's 24-hour trading volume hit $2.50 billion, exceeding DogWifHat's $821 million, suggesting a rebound despite the price fall.
The meme coin's 24-hour trading volume rose to $2.50B last week, suggesting a comeback.
Returning from All-Time High, Pepe May Rally?
After falling early this morning, PEPE may be rallying.
Technical analysis of PEPE pricing. Source: Binance.
In the previous 24 hours, its purple relative strength index fell from 65 to 15. PEPE is oversold, suggesting it may be cheap and ready to rise.
PEPE just fell below its week-long positive trendline (Yellow), indicating diminishing bullish momentum. If this slump continues, it may suggest a downtrend.
The meme coin's 30-day moving average (orange) is rising above the 200-day (blue), extending last week's pattern. The lack of a significant crossing below the 200-day average signals a continuing rising.
This negative price activity may indicate a short-term correction in an uptrend. If the price rebounds rapidly and gets above the trendline, the uptrend may continue.
PEPE's trade volume rose 12% last week to 2.50B, supporting this stance. Trader interest has surged.
At $821.07M, Pepe's 24-hour volume surpasses DogWifHat's. With WIF down 8.71% in the previous month, traders are switching to PEPE, which is still rising.
When the market starts up, PEPE may see higher price rises. This might happen next month when the freshly authorized Ethereum ETFs debut. In anticipation of large inflows, Pepe may require a brief adjustment.
#PEPE $PEPE #altcoins #binance #ETHETFsApproved
Dogecoin Set for Potential Breakout: Could DOGE Double to $0.322 Soon?
Dogecoin Set for Potential Breakout: Could DOGE Double to $0.322 Soon?If Dogecoin (DOGE) manages to break through the resistance level currently situated between $0.166 and $0.171, the potential for significant gains is substantial. Analysts predict that surpassing this critical barrier could propel DOGE to its next major resistance at approximately $0.322, effectively doubling.
Current Market Dynamics
This optimistic forecast comes amid a broader upswing in the cryptocurrency market following the SEC’s approval of the first spot Ethereum ETF. This approval has invigorated the market, leading to notable surges, particularly among meme coins like PEPE, FLOKI, WIF, and BONK. However, despite the overall bullish sentiment, DOGE has struggled to keep pace, showing a slight decline of 1%.
Key Resistance Levels and Investor Activity
Currently, DOGE is facing strong resistance, attributed to significant accumulation by nearly 75,000 wallet addresses holding around 10 billion DOGE coins at this level. As DOGE hovers around $0.164, it has experienced a 3% downturn, contrasting sharply with the impressive gains seen by other meme tokens. Over the past week, DOGE has remained relatively stable, showing a marginal 1% decline, while a broader 30-day perspective reveals a respectable 10% upward trend.
Technical Analysis and Future Prospects
Technical analysis highlights DOGE’s bearish outlook, with potential further declines to $0.154 if current trends continue. For DOGE to shift towards a bullish trajectory, it must close above the $0.175 mark on a daily basis. Achieving this would set the stage for a potential rise to $0.22, and breaking through the $0.171 resistance could pave the way for even greater gains, reaching up to $0.322.
Key Insights for Investors:
- Breaking through $0.171 could double DOGE’s value to $0.322.
- Despite broader market gains post-SEC approval of the Ethereum ETF, DOGE has seen a slight decline.
- To avoid further losses and aim for $0.22, DOGE must close above $0.17
#Megadrop #altcoins #doge⚡ $DOGE
Current Market Dynamics
This optimistic forecast comes amid a broader upswing in the cryptocurrency market following the SEC’s approval of the first spot Ethereum ETF. This approval has invigorated the market, leading to notable surges, particularly among meme coins like PEPE, FLOKI, WIF, and BONK. However, despite the overall bullish sentiment, DOGE has struggled to keep pace, showing a slight decline of 1%.
Key Resistance Levels and Investor Activity
Currently, DOGE is facing strong resistance, attributed to significant accumulation by nearly 75,000 wallet addresses holding around 10 billion DOGE coins at this level. As DOGE hovers around $0.164, it has experienced a 3% downturn, contrasting sharply with the impressive gains seen by other meme tokens. Over the past week, DOGE has remained relatively stable, showing a marginal 1% decline, while a broader 30-day perspective reveals a respectable 10% upward trend.
Technical Analysis and Future Prospects
Technical analysis highlights DOGE’s bearish outlook, with potential further declines to $0.154 if current trends continue. For DOGE to shift towards a bullish trajectory, it must close above the $0.175 mark on a daily basis. Achieving this would set the stage for a potential rise to $0.22, and breaking through the $0.171 resistance could pave the way for even greater gains, reaching up to $0.322.
Key Insights for Investors:
- Breaking through $0.171 could double DOGE’s value to $0.322.
- Despite broader market gains post-SEC approval of the Ethereum ETF, DOGE has seen a slight decline.
- To avoid further losses and aim for $0.22, DOGE must close above $0.17
#Megadrop #altcoins #doge⚡ $DOGE
