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🐸 $PEPE Skyrockets 16% in Hours; Here Are Two Reasons Frog-themed cryptocurrency PEPE has surged by 16% in the last 24 hours. PEPE surged from lows of $0.00001767 to highs of $0.0000214 in today's session, posting a significant green candlestick. PEPE's price surge coincides with tech billionaire Elon Musk's recent activity on social media. Musk, known for his significant influence on the cryptocurrency market, changed his Twitter name to "Kekius Maximus," triggering attention from the online crypto community. The Tesla CEO replaced his profile picture with the popular "Pepe the Frog" meme. In the new image, the Pepe character is seen holding a joystick. The character of Kekius Maximus is based on a little-known meme that combines the popular Pepe the Frog figure with the movie character Maximus from Gladiator. The official X account of the PEPE coin responded by tagging the Tesla CEO: "Game on Elon Musk." Although Musk did not directly reference PEPE, the timing of his name change on X coincides with PEPE's rally. 🔸 Two reasons for PEPE's rise Musk's actions often have a profound impact on the market, and this instance was no different. The association with Pepe the Frog, a well-known internet meme, led to a surge in buying activity for PEPE, which drove the price up by over 16%. Another reason that might have contributed to PEPE's price increase is its high level of social media engagement. According to LunarCrush, a platform that tracks social media activity for cryptocurrencies, PEPE is among the few cryptocurrencies experiencing a substantial increase in social mentions. PEPE was up 18% in the last 24 hours to $0.00002077, and it was up 10% weekly as of this writing. PEPE began increasing from lows of $0.0000174 on Dec. 30 to intraday highs of $0.0000214 during today's trading session. According to CoinGecko data, PEPE is up 1,467% yearly, reaching an all-time high of $0.00002825 on Dec. 9. The frog-themed cryptocurrency is currently down 26.41% from this high. #PEPE #Pepecoin
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🚀 $HBAR Struggles to Rally: Market Sentiment Dims Amid Bearish Trends Hedera Hashgraph (HBAR) has struggled to maintain significant momentum, with its price action reflecting a bearish-neutral trend over the past month. Despite its potential, HBAR has faced difficulties rallying due to declining market enthusiasm. Even long-time HBAR supporters appear to be pulling back as market conditions weigh on investor sentiment. 🔸 HBAR Traders Are Disappointed HBAR’s Open Interest has dropped by $95 million in just six days, highlighting a notable decline in trader activity. This significant reduction reflects traders pulling their funds out of the asset, dampening liquidity and trading volume. The prolonged consolidation period is eroding confidence, reinforcing a bearish sentiment across the HBAR market. The persistent lack of price movement has led traders to reduce exposure as expectations for short-term gains dwindle. This shift in sentiment has compounded bearish pressure, making it increasingly challenging for HBAR to build the momentum needed to stage a recovery. The asset remains stuck in a cycle of uncertainty. Technical indicators paint a worrying picture for HBAR’s macro momentum. The Moving Average Convergence Divergence (MACD) indicator shows bearish momentum strengthening after a brief pause, signaling increased selling pressure. This shift indicates that the downtrend may accelerate, further limiting HBAR’s ability to break out of its current range. The bearish divergence is concerning, as it was expected to ease but has instead gained pace. This renewed momentum suggests HBAR’s price could remain under pressure unless significant bullish catalysts emerge. Without a reversal in macro trends, the altcoin may face additional headwinds in the coming months. 🔸 #HBAR Price Prediction: Arranging A Breakout HBAR has been consolidating between $0.39 and $0.25 for over a month, struggling to break out of this tight range. With the current price at $0.27, the all-time high of $0.57 remains 109% away. #Hedera
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⭐️ Chainlink Price Rare Pattern Points To A 35% Crash Explore why the Chainlink price could fall by as much as 35% after forming a death cross and a head and shoulders pattern on the 4H chart Chainlink price has nosedived this month, and a rare chart pattern points to more downside as we enter into 2025. Despite its strong fundamentals, LINK has crashed by 35% from its December highs, mirroring the performance of Bitcoin and other altcoins. 🔸 #Chainlink Price Analysis: H&S Points To More Downside The 4H chart shows that the LINK price rallied and peaked at $31 in December as Bitcoin and other altcoins rallied. It has formed a head-and-shoulders chart pattern and is now hovering at its neckline. An H&S pattern is a popular reversal sign that comprises a head, two shoulders, and a neckline. In this case, the head was at $31, while the two shoulders were around the 23.6% Fibonacci Retracement level at $26.10. This pattern’s neckline is at the 50% retracement point and the weak, stop & reverse of the Murrey Math Lines. Chainlink price also formed a death cross on December 22 as the 200-period and 50-period Weighted Moving Averages (WMA) flipped each other. Also, the Percentage Price Oscillator (PPO), which is a modified type of the MACD indicator, has moved below the zero line and is pointing downwards. Therefore, these patterns point to a big drop in the next few days. The distance between the head and the neck is about 35%, while a similar distance from the neckline points to a #LINK price crash to $13.25. Conversely, a move above the major S&R pivot point at $25, which is along the right shoulder, will invalidate the LINK price forecast. Such a move will validate the slow formation of a falling wedge pattern between December 24. A wedge is a popular bullish reversal pattern. Chainlink price retreat has coincided with the ongoing retreat of other DeFi tokens like AAVE, Uniswap, and Compound.
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⚡️ Cardano ($ADA ) Might Reclaim $1.20 in January 2025 If History Replays Within the last two weeks, Cardano (ADA) has battled declining price value as it struggles to climb above the $1 mark. In early December, ADA, riding on the broader cryptocurrency bullish cycle, hit its highest level. However, the asset has struggled to stay above $1 in the market space. 🔸 Cardano's price history offers optimism Cryptorank data signals positive growth for ADA in January if the asset aligns with historical precedence. ADA has registered an average growth rate of 20.4% in January for the past seven years. Hence, a repeat of history could see ADA soar by as much as 20% in January 2025. With this potential growth rate, the coin may reclaim the $1.20 price range within weeks. In January 2023, ADA recorded a 59.2% growth rate. The figures were higher in 2020 and 2021, when Cardano witnessed a 64% and 89.9% upsurge, respectively. This suggests that ADA has experienced favorable market conditions during the month. Cardano’s growth pattern analysis also suggests it alternates between increased growth and slight declines. Interestingly, the asset slightly declined 16.2% in January 2024. This sets it up for a possible rise in 2025. 🔸 Do current market signals hint at recovery? ADA is trading down by 2.78% at $0.8721 in the last 24 hours as of this writing. However, the community remains bullish, and investors’ confidence appears unshaken. Despite the declining price, Cardano has witnessed an upsurge in market volume by 53.42% to $808.43 million. Analysts highlighted that a decrease in market participation had accompanied the previous price drop in ADA. However, with the soaring trading volume, ADA may have reached its price bottom and could proceed to register new heights, supported by its historical average growth rate. Cardano whales recently bought up over 20 million ADA within 48 hours. Although no reason was given, market observers believe these large holders might have made the move, anticipating a price rebound. #ADA #Cardano
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🔥 Solana becomes the leader for stablecoin inflows as DeFi, DEX trading accelerates Solana (SOL) is attracting more stablecoins in the past day, as liquidity shifts to the most promising markets. A shift to DeFi lending and DEX activities is driving the trend. Solana (#SOL ) is setting out as one of the most active chains for 2024. Solana saw increased stablecoin inflows in the last days of the year, surpassing all other chains. Based on data by Lookonchain, Solana attracted more than $454M in stablecoin inflows in the past week. Methods for tracking inflows differ, but the overall trend is for more active bridging of stablecoins into Solana’s apps and lending pools. Solana also surpassed Base despite the recent rush to AI agent tokens. Stablecoin flows can shift depending on the available earnings potential of various chains. Arbitrum, formerly one of the key L2 chains, saw the biggest stablecoin outflows. Despite the L2 narrative, not all chains managed to attract value in the year to date. Former DeFi star ZKSync Era saw an outflow of more than $2B net, along with Linea, Blast, and Avalanche. On a year-to-date basis, stablecoins have boosted Optimism, Base, Solana, Arbitrum, and SUI. Ethereum remained the most active chain in hosting USDT, adding to the available liquidity. Overall, stablecoins crossed the $200B barrier, driven by Tether, in addition to new mints for DAI, USDS, and Ethena’s USDe. 🔸 Ethereum remains a stablecoin donor, traffic shifted to Solana and Base Stablecoin flows shift in the short term, and Solana achieved its leading position as of December 30. The chain saw $8.8M in netflows for the day, followed by SUI’s $2.9M in netflows. Solana competes with Base for fund inflows, though it has only made second place for the past three months. In the year to date, Base remains the most significant target for stablecoin inflows. For 2024, the chain attracted $7.8B in inflows, with $3.5B retained as net inflows. #Solana
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