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Dogwifhat Becomes Third-Largest Meme Coin As Bitcoin Clings to $70K
Meme coins led by Solana-based dogwifhat surged, outpacing other niches such as DeFi and exchange tokens.
Bets on DOGE-tracked futures jumped to a record $2 billion, and some trading firms warned of a pullback in recent gains as bitcoin and ether price action showed signs of exhaustion.
Meme coins led by Solana-based dogwifhat (WIF) surged for the second day to lead as a category as the broader market remains little changed ahead of the long weekend in the U.S., Europe and parts of Asia.
Bitcoin {{BTC}} traded around $70,000 million during the Asian morning hours on Friday, showing little change in the past 24 hours. Ether {{ETH}}, Solanaâs SOL and Cardanoâs ADA slid 1%, while Bitcoin Cash (BCH) added 4% to continue its Thursday rally.
The broad-based CoinDesk 20, an index of the largest tokens minus stablecoins, was down 0.56%.
CoinGecko data shows that the meme coin category surged 8% on average, outpacing more serious niches such as decentralized finance, yield farms, and exchange tokens.
Meme tokens started to run early Thursday amid speculations of DOGE being used on an upcoming payments service of social application X, although there has been no official communication from the company.
Bets on DOGE-tracked futures jumped to a record $2 billion, indicative of expectations of future price volatility with a bias toward longs.
Dog-themed tokens such as floki (FLOKI) and WIF jumped as a beta bet to dogecoin. WIF flipped pepecoin (PEPE) to become the third-largest meme token by market capitalization, crossing the $4 mark on Thursday.
Meanwhile, some trading firms warned of a pullback in recent gains as bitcoin and ether price action showed signs of exhaustion.
âThe price rally has been exponential in Q1, and there are signs of exhaustion,â Singapore-based QCP Capital said in a Telegram broadcast Friday. âETH risk reversals are skewed to the downside at -8%, indicating some fear. Funding and forwards remain very elevated, which means that speculators are still paying high prices to keep their leveraged longs.â
âWhile we remain bullish, we are cautious about leverage,â the firm concluded.
Bets on DOGE-tracked futures jumped to a record $2 billion, and some trading firms warned of a pullback in recent gains as bitcoin and ether price action showed signs of exhaustion.
Meme coins led by Solana-based dogwifhat (WIF) surged for the second day to lead as a category as the broader market remains little changed ahead of the long weekend in the U.S., Europe and parts of Asia.
Bitcoin {{BTC}} traded around $70,000 million during the Asian morning hours on Friday, showing little change in the past 24 hours. Ether {{ETH}}, Solanaâs SOL and Cardanoâs ADA slid 1%, while Bitcoin Cash (BCH) added 4% to continue its Thursday rally.
The broad-based CoinDesk 20, an index of the largest tokens minus stablecoins, was down 0.56%.
CoinGecko data shows that the meme coin category surged 8% on average, outpacing more serious niches such as decentralized finance, yield farms, and exchange tokens.
Meme tokens started to run early Thursday amid speculations of DOGE being used on an upcoming payments service of social application X, although there has been no official communication from the company.
Bets on DOGE-tracked futures jumped to a record $2 billion, indicative of expectations of future price volatility with a bias toward longs.
Dog-themed tokens such as floki (FLOKI) and WIF jumped as a beta bet to dogecoin. WIF flipped pepecoin (PEPE) to become the third-largest meme token by market capitalization, crossing the $4 mark on Thursday.
Meanwhile, some trading firms warned of a pullback in recent gains as bitcoin and ether price action showed signs of exhaustion.
âThe price rally has been exponential in Q1, and there are signs of exhaustion,â Singapore-based QCP Capital said in a Telegram broadcast Friday. âETH risk reversals are skewed to the downside at -8%, indicating some fear. Funding and forwards remain very elevated, which means that speculators are still paying high prices to keep their leveraged longs.â
âWhile we remain bullish, we are cautious about leverage,â the firm concluded.
$XRP $SOL $ETH
#ADABullish #ADApixel #AdaptAndConquer #BinanceLaunchpool #BullorBear
ADA coin is listed on Binance, one of the largest cryptocurrency exchanges globally. At Binance, you can trade ADA against various other cryptocurrencies like Bitcoin, Ethereum, and USDT. The platform offers advanced trading features such as spot trading, futures trading, and margin trading for ADA. Additionally, Binance provides liquidity and a secure trading environment for ADA enthusiasts and investors. Make sure to conduct thorough research and practice responsible trading when engaging with ADA on Binance."
#ADABullish #ADApixel #AdaptAndConquer #BinanceLaunchpool #BullorBear
ADA coin is listed on Binance, one of the largest cryptocurrency exchanges globally. At Binance, you can trade ADA against various other cryptocurrencies like Bitcoin, Ethereum, and USDT. The platform offers advanced trading features such as spot trading, futures trading, and margin trading for ADA. Additionally, Binance provides liquidity and a secure trading environment for ADA enthusiasts and investors. Make sure to conduct thorough research and practice responsible trading when engaging with ADA on Binance."
follow and share $ADA
Cardano (ADA) has been gaining attention in the cryptocurrency market, and some experts predict a potential surge in its value. The article you mentioned likely discusses the possibilities of ADA's growth and the timeline for when it could potentially happen.
Cardano's path to success is influenced by various factors, such as:
1. Technological advancements: Cardano's development team is continuously working on improving the platform's scalability, security, and decentralization.
2. Adoption: As more users and institutions adopt Cardano, its value could increase.
3. Market trends: The cryptocurrency market is highly volatile, and trends can shift quickly.
4. Competition: Cardano faces competition from other prominent cryptocurrencies like Bitcoin and Ethereum.
Some potential catalysts for ADA's surge could include:
1. Launch of new products or services on the Cardano platform.
2. Partnerships or collaborations with other companies or institutions.
3. Increased adoption in various industries, such as finance or supply chain management.
4. Favorable regulatory environments or government adoption.
5. Technical breakthroughs or innovations.
Keep in mind that the cryptocurrency market is highly unpredictable, and predictions should not be taken as investment advice. Always do your own research and consider your risk tolerance before investing in cryptocurrencies.
follow and like me for new update.
#ADA.æșèœçç„ćșđ„đ„ #ADABullish #BTC #ADApixel #BinanceLaunchpool
Cardano (ADA) has been gaining attention in the cryptocurrency market, and some experts predict a potential surge in its value. The article you mentioned likely discusses the possibilities of ADA's growth and the timeline for when it could potentially happen.
Cardano's path to success is influenced by various factors, such as:
1. Technological advancements: Cardano's development team is continuously working on improving the platform's scalability, security, and decentralization.
2. Adoption: As more users and institutions adopt Cardano, its value could increase.
3. Market trends: The cryptocurrency market is highly volatile, and trends can shift quickly.
4. Competition: Cardano faces competition from other prominent cryptocurrencies like Bitcoin and Ethereum.
Some potential catalysts for ADA's surge could include:
1. Launch of new products or services on the Cardano platform.
2. Partnerships or collaborations with other companies or institutions.
3. Increased adoption in various industries, such as finance or supply chain management.
4. Favorable regulatory environments or government adoption.
5. Technical breakthroughs or innovations.
Keep in mind that the cryptocurrency market is highly unpredictable, and predictions should not be taken as investment advice. Always do your own research and consider your risk tolerance before investing in cryptocurrencies.
follow and like me for new update.
#ADA.æșèœçç„ćșđ„đ„ #ADABullish #BTC #ADApixel #BinanceLaunchpool
$ADA is like a pandoraâs box (in a good way) waiting to explode to fill up your pockets. Buy at dips, set your buy orders and hold it for the bull run.. this could be our chance to get some earnings or recover some lost from our failed trade due to lack of experience.
#write2earn #jup #ADApixel #algo1000sats
#write2earn #jup #ADApixel #algo1000sats