Trader Turns $ 960 into $ 2.6 Million by Betting on a Memecoin at the Last Minute
A cryptocurrency trader made an extraordinary 2,580x return by investing in an obscure memecoin called $Mundi during its early stages. Starting with just one Solana (SOL), worth approximately $ 960 (US$ 189) at the time, the trader managed to turn this into a staggering profit of $ 2.6 million.
Initially, the trader planned to invest in another lesser-known token, $Banano ($BAN). However, a last-minute decision led him to pivot to $Mundi—a move that proved to be incredibly lucrative. Strategic Timing and Unprecedented Gains
According to blockchain analytics firm Lookonchain, the trader's wallet, identified as Chbk…YSMQ, purchased 19.79 million $Mundi tokens in October 2024. At the time, $Mundi was at an embryonic stage with a market cap of just US$ 8,500, in stark contrast to $BAN, which had already reached US$ 60 million in market capitalization.
Instead of succumbing to FOMO (Fear of Missing Out) over $BAN, the trader decided to take a calculated risk with $Mundi. This bold move paid off when the value of $Mundi skyrocketed. Over the past few days, the trader sold 18.19 million $Mundi tokens for 1,428 SOL (US$ 336,900) while retaining 1.6 million tokens still valued at US$ 99,000.
A Market Defined by Risk and Reward
Launched on October 25, $Mundi's meteoric rise echoes the volatile nature of memecoins—a niche segment of cryptocurrencies inspired by viral internet memes. These tokens, including well-known examples like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepecoin (PEPE), often experience massive price swings. While some traders achieve millionaire status overnight, others face the risk of their investments plummeting to zero within hours. The Broader Appeal of Memecoins Despite their volatility, memecoins continue to captivate the crypto community with stories of astronomical gains.
As the cryptocurrency industry grows, millions of new tokens emerge daily. However, selecting the right cryptocurrency, timing trades correctly, and navigating countless other variables demand constant attention from investors.
In this context, artificial intelligence (AI) is transforming trading, with bots that operate independently. One such bot, Truth Terminal, even achieved millionaire status through its autonomous crypto trading.
AI Bot Converts Small Investment into Millions
Now, another bot has turned $4,500 into $5.5 million, showcasing the potential of these tools in cryptocurrency trading. The bot, known as aixbt, along with platforms like Best Wallet, has enabled users to generate millions by supporting emerging cryptocurrency projects.
Bot Thrives in Memecoins
Launched just days ago, aixbt is already leading the pack among AI trading bots. The bot's profile on X (formerly Twitter) boasts over 70,000 followers, sharing investment opportunities ranging from established names like LINK to lesser-known tokens, such as the memecoin MONKY. (Its just talk with him on Twitter X)
One user, identified as 0xgalahad.eth via their Ethereum wallet address, capitalized on the bot’s tips. Following its recommendations, this investor turned a $4,500 investment into a $5.5 million fortune.
According to Arkham Intelligence, the investor, guided by the AI bot, built a portfolio of eight cryptocurrencies, including the bot's native token AIXBT, along with USDC, ETH, DINERO, WQUIL, and others.
Remarkably, the native aixbt token accounted for the majority of the gains. The investor holds 20.043 million AIXBT tokens, currently valued at $3.68 million.
Despite being in its experimental phase, the token hit an all-time high of $0.2369 on December 2, representing a 410% increase since its November 21 launch. After AIXBT, the trader's largest holdings include USDC, valued at approximately $860,000, and Ether (ETH), worth $520,500.
Shiba Inu (SHIB), the second-largest meme coin, presents a unique trend that suggests a potential rally ahead. This development coincides with an increased Shiba Inu burning rate over the past month.
What's happening on SHIB market
According to CoinMarketCap data, SHIB has declined by 5.19% in the last 24 hours to trade at $0.00002836. Despite the daily decline, it has risen 7.8% in the past week, pushing its monthly and yearly increases to 61.74% and 239.6%, respectively.
The decline in SHIB's price in the last 24 hours suggests a short-term correction. This means the price of the meme coin may see a spike once momentum picks up. Typically, investors flock toward a cryptocurrency once the price goes down, leading to an increase in value.
Another key metric reinforcing the bullish momentum on SHIB is the trading volume. In the last 24 hours, the daily trading volume rose 31.34% to $6 billion, indicating investors’ commitment to purchasing SHIB.
Surge in Shiba Inu burn rate and whale activity
Meanwhile, the Shiba Inu burn rate has increased in the past few days. As U.Today reported, over 1.4 million SHIB tokens were recently destroyed in just 24 hours, representing a 486.32% spike in the burn rate.
The Shiba Inu team conducts periodic burns to reduce the number of SHIB tokens in circulation. As the number of tokens reduces and demand increases, the price is expected to surge.
Besides the surge in burn rate, large investors, or whales, have also increased their activities. The meme coin recently experienced a 396.38% increase in large transaction volume of $245.63 million. Additionally, Shiba Inu witnessed a 19.5% increase in daily active addresses over this period, totaling 8,720.
In a parallel development, Shiba Inu lead developer Shytoshi Kusama triggered a mixed reaction from the SHIB community with a sarcastic tweet about SHIB burns.
Ethereum Creator Causes Cryptocurrency to Surge 350% Following Investment
Vitalik Buterin, co-founder of Ethereum, triggered a 350% price surge in the ANON token after blockchain data revealed that his wallet exchanged 0.082 ETH for 30,303 ANON tokens on the evening of Wednesday, November 20.
What is Anoncast and the ANON Token?
Anoncast is a zero-knowledge proof-based application that allows users holding at least 20,000 ANON tokens to post anonymously on the social network Farcaster. Following Buterin’s transaction, ANON experienced a brief correction but still maintains a 190% increase compared to its pre-purchase price.
The transaction was discovered via a tracker monitoring Buterin's vitalik.eth address on Arkham Intelligence. Hours after the trade, ANON’s market cap surged from $36 million to $39.2 million. This marks Buterin’s first known investment in a token on Coinbase's Layer 2 network, Base.
The Anoncast account on X (formerly Twitter) commented on the event, stating, “It must be fun for Vitalik to lose himself in the crowd again.”
Origins of ANON
Super Anon (ANON) is the native token of Anoncast. It utilizes zero-knowledge proofs, a cryptographic method enabling verification without disclosing underlying information. The project emerged from an AI-generated prompt on Farcaster that suggested creating an anonymous token on Base with the ticker $ANON. This concept evolved into a decentralized community, further developing projects like AnonColors and a zk-proof-based publishing system.
Features Anoncast recently reduced its anonymous posting requirement from 20,000 to 15,000 tokens, while users with 1 million ANON can promote posts on X and delete content. The project gained traction through support from Farcaster developers and protocol integrations. Dan Romero, Farcaster’s co-founder, called Anoncast a “consumer zk app,” developed by Kartik Patel, formerly of manifold.xyz and OpenSea. The app is described as an “experimental arena” for human intelligence to compete with AI.
YouTuber and Fighter Logan Paul Accused of Cryptocurrency Market Manipulation
Logan Paul, the globally recognized influencer and YouTube personality, is under scrutiny for his involvement in the cryptocurrency market. According to recent documents reviewed by the BBC, Paul allegedly promoted investments without disclosing his financial interests in these projects, raising suspicions of market manipulation for personal gain.
Promotion of Memecoins and Questionable Profits
Among the incidents analyzed, Paul's promotion of memecoins has drawn significant attention. In 2021, he encouraged fans to invest in Elongate, a token associated with billionaire Elon Musk, via an exclusive video for his community. Following his endorsement, the token’s value surged by over 6,000%, only to plummet shortly thereafter.
Investigations uncovered that an anonymous wallet linked to Paul’s public wallet purchased approximately $160,000 worth of another Musk-related token just before Paul tweeted about its potential. After the token’s price spiked, the same wallet sold most of its holdings, netting an estimated $120,000 profit.
Paul also heavily promoted Dink Doink, a token promising dividends tied to animated productions. Despite his enthusiasm, the token's value dropped by 96% within two weeks. A Time Magazine investigation revealed that a wallet linked to Paul sold Dink Doink tokens post-promotion, transferring $100,000 to his public wallet.
CryptoZoo Scandal and Legal Troubles
In addition to controversial promotions, Paul is facing a class-action lawsuit involving his project CryptoZoo, which raised $18.5 million. The NFT-based game promised returns through the creation of hybrid digital animals.
November Crypto Portfolio Update: 4 Altcoins Set to Explode 🚀
As November unfolds, the crypto market is buzzing with opportunities. Bitcoin’s leap to $90K has triggered a significant shift, paving the way for altcoin growth. Here's a portfolio update featuring four altcoins poised for explosive gains: BNB, Worldcoin, Near Protocol, and Arweave.
1. BNB (Binance Coin) Potential Growth: +100%
BNB is exhibiting a rare "cup and handle" pattern that could propel its price to $1,200. With robust fundamentals—steady token burns, increasing DEX activity, and a thriving ecosystem—BNB stands as a cornerstone for any portfolio. As Bitcoin consolidates, expect liquidity to flow into BNB.
2. Worldcoin (WLD) Potential Growth: +70%
Worldcoin’s revolutionary approach to decentralized identity and Web3 accessibility positions it for exponential growth. The token is gaining traction as adoption of its identity verification solutions expands, with major partnerships on the horizon. WLD is set to be a key player in the decentralized identity space.
3. Near Protocol (NEAR) Potential Growth: +60%
NEAR is leading the charge in AI-powered blockchain innovation. With its full pivot into AI applications, seamless EVM compatibility, and strong backing from top AI researchers, NEAR is uniquely positioned for long-term success. As AI-driven narratives gain momentum, NEAR could see significant upside in the coming months.
4. Arweave (AR) Potential Growth: +55%
Arweave is the backbone of decentralized storage and is set to disrupt the cloud computing space with its upcoming AO Compute launch in early 2025. This parallel hyperscalable computing platform is expected to unlock massive value, pushing AR to new highs.
Pro Tip: Focus on altcoins with immediate utility and clear catalysts for growth. With potential gains ranging from 55% to 100%, BNB, WLD, NEAR, and AR are primed to deliver significant returns. Prepare for liftoff—November is shaping up to be an explosive month for altcoins! 🚀
💥Warning: Rare Pattern Could Make BNB Reach $1,200 This Week
The price of BNB, Binance's native cryptocurrency, has formed an extremely rare pattern that could push its value to $1,200 in the coming months. Currently trading at $620, according to CoinGecko, this marks a potential 100% gain. From its yearly low, BNB has surged 240%, reaching a market cap of $86 billion. The rare “cup and handle” pattern is behind this projection, which has historically driven above-average gains for assets.
Analysis of BNB
The “cup and handle” pattern consists of a rounded bottom followed by consolidation or a pullback at the top, as shown in historical charts. BNB first formed this pattern in November 2021, reaching $665.
Between 2022 and 2023, BNB dropped significantly, hitting a low of $200. However, it has since rebounded, retesting its 2021 highs and forming the cup’s base. Stabilization in 2023 completed the “cup,” and a Bitcoin (BTC) rally in 2024 started forming the “handle.” In August, BNB's price action included a doji pattern, which spurred renewed momentum.
If BNB cleanly breaks above its current resistance, it could hit $1,200. However, the cup-and-handle pattern is a long-term formation, taking over three years for the cup to form and eight months for the handle. Thus, this is not a short-term trading strategy.
Optimistic Fundamentals
Beyond technical patterns, BNB's fundamentals support long-term growth. A favorable regulatory environment under a potential Donald Trump administration could boost the crypto market, and a BNB ETF might emerge as early as 2025. Additionally, BNB's network is thriving, with DEX trading volumes up 49% in the past week to $11.9 billion. The network has processed over $1.09 trillion in token transactions, and unique addresses have surpassed 489 million. Finally, Binance’s regular BNB token burns, including the 29th burn in November, continue to reduce supply, driving value for holders.
**Trader Misses Opportunity to Earn $17 Million with Memecoin**
The crypto trading world is full of "what ifs" that haunt investors. One such moment unfolded when a trader sold the memecoin PNUT too early, forfeiting a potential profit of $17.5 million.
The trader initially invested 8 Solana (SOL), worth $1,366, to buy 19.4 million PNUT tokens. However, following the token’s consolidation phase after launch, he panicked and sold his holdings for just 4.08 SOL, or $697, taking a significant loss.
What the trader didn’t foresee was PNUT’s meteoric rise shortly after Binance listed the token on November 11. PNUT’s price surged by over 250%, making the same 19.4 million tokens worth a staggering $17.5 million, according to Lookonchain analysis.
While this trader's misstep highlights the risks of emotional decision-making, others capitalized on the opportunity. Another savvy trader reportedly earned $3 million in just one hour by entering and exiting at the right moments.
This story underscores the importance of patience, strategy, and avoiding impulsive reactions in the volatile world of cryptocurrency trading. For every missed opportunity, there’s a lesson to be learned about timing and market trends.
**Cardano ($ADA) Price Prediction for 2024 and 2025**
Cardano ($ADA) has regained momentum in the crypto market, posting a 70% price surge in November 2024. As Bitcoin’s bull cycle drives renewed interest in altcoins, ADA solidifies its place in the Top 10 cryptocurrencies.
What is Cardano ($ADA)?
Cardano, launched in 2017, is a decentralized blockchain platform focused on scalability, security, and sustainability. Powered by its proof-of-stake (PoS) mechanism Ouroboros, it provides an eco-friendly alternative to traditional blockchains. Its native token, ADA, supports staking, transaction fees, and governance.
Cardano’s growth is fueled by increasing developer activity, rising on-chain transactions, and expanding smart contract deployments, making it a strong contender against Ethereum.
Cardano ($ADA) Price Prediction for 2024
2024: Currently trading at $0.57, ADA is expected to target the $1.00 range by the end of 2024, representing a potential 75% increase. This growth is driven by the broader market rally and Cardano’s DeFi and smart contract adoption.
Cardano ($ADA) Price Prediction for 2025 2025: Analysts predict ADA will trade between $0.363 and $0.743 in 2025, with the potential to surpass $1.00 in early 2025. Long-term forecasts suggest gains of up to 1,000% within five years, with ADA possibly reaching $3.93 by 2029.
An investment of $1,000 today could grow to $10,600 if these projections hold true. Rumored partnerships, such as between Charles Hoskinson and the Trump administration, could further enhance ADA’s growth.
With strong fundamentals and growing adoption, Cardano remains a promising investment. However, as with any cryptocurrency, risks remain, and investors should proceed cautiously.
**Pepe Rallies 80% Hitting New ATH As AltSeason Takes Charge**
Memecoin PEPE has surged by an impressive 80% in the past 24 hours, hitting a new all-time high (ATH). The cryptocurrency, which was trading at $0.00001272 a day ago, broke through the $0.00002 resistance and reached $0.00002524 five hours ago, surpassing its previous ATH of $0.00001718. At the time of writing, PEPE is trading at $0.00002256, according to CoinMarketCap data.
The rally comes amidst a broader bullish trend in the cryptocurrency market, which is nearing a $3 trillion market cap milestone. Factors contributing to this surge include Bitcoin's recent rally, regulatory reforms in the USA, and the start of the much-anticipated AltSeason. This altcoin-focused market phase has also driven notable price increases for other memecoins like Dogecoin and Shiba Inu.
PEPE’s weekly performance has been extraordinary, with a 118.2% increase in just seven days. It climbed from a low of $0.00001034 to its current levels. The technical indicators also suggest a bullish trajectory, with the Chaikin Money Flow (CMF) at 0.37, signaling strong incoming capital. However, increased volatility is evident, with the Relative Volatility Index (RVI) at a high 92.49.
Whale activity has played a significant role in PEPE's rise. One whale, identified as “0x2da,” reportedly sold 500 billion PEPE four hours ago, pocketing over $45 million in profit. Despite some selling pressure, PEPE's RSI remains in the overbought zone at 88.77, reflecting strong buying interest.
As Bitcoin's rally inspires the entire market, other altcoins like Ethereum have also broken key resistance levels, further solidifying AltSeason's momentum. PEPE's explosive growth showcases the unpredictable yet lucrative potential of the memecoin sector.
**TOP 10 CRYPTO COINS TO BUY BEFORE IT'S TOO LATE!!!!!**
The crypto market is heating up, and altcoins are offering incredible opportunities for investors! As Bitcoin dominance grows, savvy traders are looking at altcoins. Here’s the ultimate top 10 list with growth predictions to supercharge your portfolio—plus one bonus pick!
1. Ethereum (ETH) The backbone of DeFi and dApps, ETH is trading above $3,300 and could surpass $5,000 in this bull cycle. A low-risk, high-reward investment for any portfolio.
2. Binance Coin (BNB) Priced around $300, BNB is essential to the Binance ecosystem. With Binance’s global dominance, it could hit $600 or more as the ecosystem grows.
3. Dogecoin (DOGE) DOGE has evolved from meme to mainstream, currently over $0.50. Backed by Elon Musk and a loyal community, it could soar to $0.70–$1.00 this year.
4. Solana (SOL) Known for its speed and scalability, SOL is trading near $300 and could reach $400–$500 as adoption increases.
5. Cardano (ADA) ADA, with its scientific foundation, is priced at $2.50. As smart contracts grow, it could surge to $5.00–$7.00.
6. Polkadot (DOT) DOT focuses on blockchain interoperability, valued at $40. With parachain development, it could climb to $80–$100.
7. Chainlink (LINK) Priced around $30, LINK powers decentralized oracles. As demand for reliable data grows, it could reach $60–$75.
8. Avalanche (AVAX) With fast transactions and low fees, AVAX is at $70 and could hit $150–$200 as its ecosystem expands.
9. Shiba Inu (SHIB) This meme coin has evolved with utility and adoption. SHIB is high-risk but could set new highs in the next bull run.
10. Algorand (ALGO) Trading at $2.00, ALGO stands out for its speed and partnerships. It’s projected to rise to $4.00–$5.00.
Bonus: PEPE The viral meme coin PEPE continues to surprise the market with its community-driven rallies with more than 50%.
Don’t miss out—2024 is shaping up to be a game-changing year for altcoins!
What is DOGE, the Department Musk and Ramaswamy Will Lead Under the Trump Administration?*
Elon Musk and Vivek Ramaswamy are set to co-lead the newly announced Department of Government Efficiency (DOGE), President-elect Donald Trump revealed. Despite its name referencing the meme cryptocurrency Dogecoin, DOGE is not a formal government agency. Instead, it will operate externally to “dismantle bureaucracy, slash regulations, cut wasteful spending, and restructure federal agencies,” according to Trump’s statement.
The department aims to finish its work by July 4, 2026, aligning with America’s 250th anniversary of independence. Trump called it potentially the “Manhattan Project of our time,” emphasizing the goal of a leaner, more efficient government.
Musk and Ramaswamy’s influence will extend through partnerships with the Office of Management and Budget and direct advisement to the president. While specifics remain unclear, Ramaswamy has proposed starting with defunding over $516 billion annually allocated to programs Congress hasn’t reauthorized, calling it “totally nuts.” Musk has promised to “delete the mountain of choking regulations” and suggested savings could exceed $2 trillion, nearly a third of the federal budget.
DOGE may fall under the Federal Advisory Committee Act, which governs external government advisory groups. However, since Musk and Ramaswamy are not federal employees, they won't be bound by standard ethical requirements like disclosing assets or avoiding conflicts of interest.
The ambitious DOGE initiative represents a significant shift in governance, promising a dramatic overhaul of government inefficiency under Trump’s administration.
Bitcoin (BTC) continues to break records, reaching an all-time high of $91,710 around midday on Wednesday (13th), marking a 5.1% increase in the last 24 hours, according to Coingecko. As of publication, BTC has slightly retreated to $91,380 but still boasts a 23% gain over the past seven days and 38% over the last 30 days.
In Brazilian reais, Bitcoin also set a new record, reaching R$ 524,671 during the same period, as reported by the Bitcoin Price Index (IPB).
Impressive inflows into Bitcoin spot ETFs in the U.S. reflect heightened investor interest. Data from Sosovalue shows net inflows of $817.5 million into Bitcoin ETFs on Tuesday (13th), following over $1.1 billion in inflows on Monday. Ethereum ETFs also saw significant activity, capturing $135.9 million on Tuesday, the second-highest inflow since their launch.
Ethereum (ETH) remains stable this Wednesday afternoon, trading around $3,300, with a 3% gain between noon and 1 PM. Over the past seven days, ETH has risen by 27%, with a 29% gain over the last 30 days.
With Bitcoin and Ethereum rallying, the market remains optimistic about further gains. Bitcoin analysts suggest the next target could be $92,000, driven by bullish sentiment and institutional capital.
For those who doubted earlier predictions, it's time to believe—Bitcoin's historic performance shows no signs of slowing down!
Donald Trump Prepares Pro-Crypto Government Team, American Media Reports
The selection of pro-Bitcoin figures and the promise of a more welcoming regulatory environment have sparked optimism among crypto investors and enthusiasts. This move highlights the growing influence of the crypto sector in American politics, especially after the financial support Donald Trump received from the ecosystem during his campaign.
The president-elect, Donald Trump, is reshaping the U.S. political landscape by assembling a government team with a favorable stance on cryptocurrencies. According to the *Washington Post*, Trump is already evaluating a list of pro-Bitcoin candidates for key positions in his cabinet. His goal is to create a more permissive regulatory framework.
One of the most critical positions for crypto policy is the chair of the Securities and Exchange Commission (SEC), currently held by Gary Gensler. Gensler’s strict approach toward the crypto industry has drawn widespread criticism. According to the *Washington Post*, Trump is already considering replacements, including Paul Atkins, a former SEC commissioner and part of Trump’s initial transition team, and Chris Giancarlo, former head of the Commodity Futures Trading Commission (CFTC), who is known for supporting blockchain innovation.
Other names under consideration include SEC commissioners Hester Peirce and Mark Uyeda, both Republicans with strong pro-crypto records. Peirce, nicknamed “Crypto Mom,” is well-known for advocating a regulatory framework that fosters innovation, aligning closely with Trump’s crypto-friendly vision.
Potential replacements include billionaire Scott Bessent, a known crypto advocate, and John Paulson, whose stance on the sector is less favorable. A shift in Treasury leadership could signal greater openness to the crypto market and provide new momentum for the industry.
Trader Sends Ethereum to Wrong Address, Risks Losing $25 Million Forever
The trader is offering a reward of 10%, which is approximately $2.5 million at the current price.
A crypto trader has accidentally locked $25 million worth of Ethereum in a restaking protocol and is now scrambling to recover the funds. Unless the protocol updates its smart contract, the ETH might be lost forever.
According to reports from *The Block*, the trader mistakenly sent around 8,000 ezETH tokens to a safe module address instead of transferring them to their secure wallet. The error occurred while interacting with Renzo, a restaking platform designed for Ethereum and Solana networks.
Plea for Help and a Huge Reward Realizing the error, the trader turned to social media to seek assistance from hackers and blockchain experts. In a desperate plea posted on X (formerly Twitter) on Sunday, November 10, the trader wrote:
“To all the skilled hackers and white hats out there: I’ve lost a significant amount of funds in a contract and urgently need help recovering them. If you can successfully recover the funds, I’m offering a reward of 10%, which is approximately $2.5 million at the current price.”
The trader’s post highlights the gravity of the mistake and the high stakes involved in recovering the funds.
The Renzo Platform and Ethereum Restaking
Renzo is a platform designed to facilitate restaking across Ethereum and Solana networks, allowing users to maximize their staking rewards. Restaking involves leveraging staked assets for additional purposes, such as providing security for other protocols. However, the functionality depends on precise execution.
Lessons for Crypto Users
This incident underscores the critical importance of double-checking details before executing any blockchain transaction.
I’ve been away for a while, but it was for a good reason—I’ve been learning how to code, and I can promise you, the time worth it!
I’m now developing some low-code platforms aimed at making it easier for anyone to build their own tools, whether for crypto, bots, or other innovative projects.
Now, I’d love to hear from you: What kind of easy-to-use program or tool would you like to create? Imagine being able to design something simple yet powerful and becoming the CEO of your own crypto startup or project. Let me know in the comments what you need—your ideas will mean a lot to me, and I promise to seriously consider bringing them to life.
Thank you all for your patience and support. Wishing everyone lots of green on the charts in the coming days! 🙂🚀🚀🚀
Dogecoin extends gains as traders assess Elon Musk’s role in upcoming Trump administration
Dogecoin (DOGE) continues its impressive rally, extending gains on Monday following a 107% surge in the previous week. Now trading at $0.41 with a market cap of $60.2 billion, DOGE's performance is buoyed by the election of crypto-friendly candidate Donald Trump as U.S. president and the ongoing promotion by Elon Musk. DOGE’s open interest has reached a new all-time high of $2.26 billion, with daily trading volume hitting $13.96 billion, the highest this year.
Elon Musk's support for Dogecoin remains a key driver of its popularity. His co-founding of the "Department of Government Efficiency" (DOGE), an initiative aimed at streamlining U.S. government operations and reducing waste, has further fueled interest in the token. During a Trump rally, Musk claimed this initiative could save the U.S. $2 trillion in tax spending. The coincidence of the department's initials, DOGE, aligning with Dogecoin's ticker symbol has sparked speculation and bolstered bullish sentiment.
Technically, Dogecoin has broken above a long-standing ascending trendline on the weekly chart, which now serves as a support level. If this momentum holds, DOGE could rally an additional 21% to test its October 2021 high of $0.50. However, caution is warranted as the Relative Strength Index (RSI) currently sits at 78, signaling overbought conditions and the potential for a pullback. Still, the RSI could remain above 70 and maintain bullish momentum, allowing the ongoing rally to continue.
On-chain data supports the bullish case for Dogecoin. Coinglass data shows that DOGE’s futures open interest nearly doubled from $1.16 billion on November 5 to $2.26 billion by Monday, indicating a surge.
Additionally, DOGE’s daily trading volume soared from $1.49 billion on November 3 to $13.96 billion, reflecting increased liquidity and trader interest.
**Bitcoin Could Soon Hit $92,000, Says Technical Analysis**
Bitcoin (BTC) has surged past $82,000 following Donald Trump’s election win last week, sparking excitement across the crypto market. Investors are now eagerly speculating how high this rally could climb.
Strong Uptrend with Key Support Levels
Beto Fernandes, an analyst at Foxbit, notes Bitcoin’s strong upward trend on the daily chart. “There have been key support tests, first at $60,100 and then at $66,400,” he explains. Based on current patterns, Bitcoin could see a correction to $72,800, with additional support levels identified by Fibonacci indicators at $79,000, $76,400, and $74,500.
On the upside, Fibonacci projections suggest BTC could reach $92,000 if the bullish momentum continues. Ana de Mattos, a trader partnered with Ripio, highlights two resistance levels on the way up: $85,966 and $88,704.
Overbought Conditions Signal Short-Term Caution
Despite the optimism, Fernandes warns of potential short-term risks. The Relative Strength Index (RSI) is at 79, signaling overbought territory. “The last time the RSI was this high was in March, just before Bitcoin’s all-time high, which was followed by a lengthy correction. Overbought markets often see pullbacks,” he adds.
Weekly Chart Shows Aggressive Growth
On the weekly chart, Bitcoin remains in an aggressive bullish channel. Last week, BTC broke above the median trading range, pushing the cryptocurrency to new highs.
While the market is optimistic about Bitcoin's potential, analysts advise caution, especially as short-term corrections remain a possibility. Still, the path to $92,000 is within reach if bullish trends hold.
Breaking News🔥 Go big or go Home!! Hamster Kombat (HMSTR) to Be Listed on Binance Launchpool!
Binance has just announced the listing of Hamster Kombat (HMSTR) on its Launchpool platform! Set to be one of the most anticipated listings of the year, Hamster Kombat is a unique P2E (Play-to-Earn) game, allowing users to step into the shoes of a crypto exchange CEO on the Telegram mini-app platform.
This marks the 58th project on Binance Launchpool, with Binance being the first platform to list the HMSTR token. Trading will commence on September 26, 2024, at 12:00 UTC, with trading pairs including HMSTR/USDT, HMSTR/BNB, HMSTR/FDUSD, and HMSTR/TRY. But be warned – any offers to trade the token before the official launch are likely scams! Always conduct your own research.
Get Ready for HMSTR Airdrops!
Starting from September 19, 2024, 00:00 UTC, users can lock their BNB and FDUSD to earn HMSTR Airdrops over seven days. With a total token supply of 100 billion HMSTR, a whopping 3 billion tokens will be distributed during the farming period, which runs until September 25, 2024.
Binance will also introduce HMSTR Super Earn, where users can lock HMSTR tokens to enjoy special APRs. Further announcements on this exciting feature are expected soon.
This listing is expected to create a major buzz in the crypto community, especially considering that Hamster Kombat boasts an astounding 300 million players worldwide, making this the biggest and most anticipated airdrop in history.
Don’t miss out on your chance to participate in Binance Launchpool’s Hamster Kombat (HMSTR) adventure! Prepare your BNB and FDUSD to start farming HMSTR and join one of the most exciting events in the crypto space!
AVAX: Price Could Double with U.S. Interest Rate Cuts
The price of AVAX, the cryptocurrency powering the Avalanche network, has recently entered a downtrend, reflecting broader market declines. While this has raised concerns about a potential bearish period in September, some investors believe that an interest rate cut in the United States could reverse this trend.
In recent days, AVAX has experienced a significant drop amid broader financial instability. The cryptocurrency failed to break through a critical resistance level, leading to a bearish trend. Now, AVAX is poised to test the lower limit of its current triangular trading pattern. If it successfully breaks through, the cryptocurrency could see gains of over 100%, potentially reaching $50.
Over the past 24 hours, AVAX has seen significant price fluctuations, dropping 1.99% to $22.12. Despite this, trading volume has increased by 53.62%, indicating heightened trading activity. The Moving Average Convergence Divergence (MACD) indicator shows that the MACD line recently crossed below the signal line, suggesting that the bearish momentum may continue in the short term.
Interest Rate Cuts Could Trigger a 100% Surge
According to Coinglass data, recent trading activity has shown significant fluctuations, with volume increasing by 38% to $409 million. Despite this surge in trading volume, open interest saw a slight decline of 0.18%, totaling $213 million. This divergence indicates a dynamic shift in trader commitments and market liquidity, placing Avalanche’s price forecast at a crucial juncture. AVAX is currently facing a significant resistance level at $25. Breaking through this barrier could push its value to $30. If this positive trend continues, the cryptocurrency could reach $40 by the end of September. In the event of a market rally, AVAX could soar to $50, representing over 100% growth