The sudden rise of prominent meme coins like Dogecoin (DOGE)

—as well as SPX and GOAT recently—suggests a radical shift in the crypto space. As the meme coin category continues to evolve into a trend in its own right—known as meme coin hype season—during the current market cycle, prominent crypto analyst Murad Mahmudov has hinted at a shift in perceptions of the category that could reshape the crypto space: the emergence of new meme coins based on sectarianism and partisanship. In a recent interview on The Block Crunch, Murad described meme coins as

“digital representations of internalized beliefs,” claiming that they represent a new trend in digital assets that draws support from societal beliefs rather than functional uses or technical innovations.

The analyst drew comparisons between Bitcoin (BTC) and successful meme coins, stressing that both are backed by “intolerant communities” or followers of what resemble “extremist groups.”

Former Celsius CEO Returns to Court on November 13

New Information on How Illegal Cryptocurrency Transactions Secured to Facilitate Money Making on the Dark Web.

Market Reflections

Court Orders Crypto Firm to Pay EFCC $140 Million Over Illegal USDT/Naira Transaction

Last month, the Economic and Financial Crimes Commission obtained an order to freeze 548.6 million naira owned by suspected cryptocurrency users.

Last month, the Economic and Financial Crimes Commission obtained an order to freeze 548.6 million naira owned by suspected cryptocurrency users.

Bridge, founded by former Coinbase executives Sean Yu and Zach Abrams, provides companies with the tools to create, store, and accept stablecoins.

HEX Price Drops 9% as Bearish Momentum Dominates Market

HEX price has seen a 9.04% drop. It is currently at $0.001962 with bearish momentum dominating the market. Clearly further declines have occurred from...

#BinanceTurns7 #MarketDownturn #MarketDownturn $BTC $BNB $SOL

The ongoing selling pressure in the cryptocurrency market has turned the overall sentiment towards a bearish trend.

In this regard, #SOL🔥🔥 , the world’s fifth-largest cryptocurrency by market cap, is gaining notable attention from crypto enthusiasts as it maintains a positive outlook in terms of price changes in the past 24 hours.
#solana
Outperforms Bitcoin and Ethereum
Additionally, SOL has outperformed major cryptocurrencies such as Bitcoin (#BTC☀️ ), Ethereum (ETH), and Binance Coin (BNB).

At the time of writing, SOL is trading near $172 and has seen a price increase of over 3.4% in the past 24 hours.

During the same period, its trading volume has decreased by 20%, indicating fear among traders and investors likely due to the current market situation.
$SOL $BTC $ETH #BinanceTurns7 #etherreum

Positive expectations for Bitcoin ahead of the US elections

Bitcoin is showing signs of upward momentum that could push its price towards the $73,800 level it recorded before the previous elections.

This expected rise is supported by several factors, including the inversion of the yield curve on US Treasury bonds, and renewed interest in spot Bitcoin exchange-traded funds.

#BTC Other digital assets witnessed a significant rise in conjunction with the inversion of the yield curve on US Treasury bonds with a yield of 10 years versus Treasury bonds with a yield of 2 years.

This inversion came after the release of US consumer price index data that exceeded expectations on Thursday.

This reversal indicates an increase in investors’ expectations of market volatility and rising interest rates, which may prompt them to seek alternative assets such as $BTC

Strong inflows into spot Bitcoin ETFs and increased activity in the derivatives market have contributed significantly to the current rally in the price of #BTC

Official data confirms this point, as US spot Bitcoin ETFs recorded their largest daily net inflows since June, worth $555.8 million last Monday.

Of the 12 spot ETFs, #bitcoin , 10 funds saw buy flows, while none recorded sell flows.

US Bitcoin Spot Funds See $556 Million Inflows on Biggest Day Since June

US-based Bitcoin spot funds saw inflows of more than half a billion dollars as the cryptocurrency topped $66,000.

ETF Store President Nate Geraci called it a “huge day” for Bitcoin spot funds, noting that net inflows have approached $20 billion over the past 10 months.

“This is unbelievable and exceeds all previous expectations of demand prior to launch,” Geraci wrote in an Oct. 15 X post. “It’s not just retail investor demand, it’s slow adoption by advisors and institutional investors.”

Fidelity Wise Bitcoin Origin (FBTC) led the pack with $239.3 million inflows, its highest since June 4.

#MarketDownturn #BinanceTurns7 #BTC☀️ #Binane #BNBToken

Solana which will then be used to purchase memecoin) from exchanges like Binance and many others.

In fact,
early investors could make similar returns to those who invested in Shiba Inu (shib) and Dogecoin (doge) before these memes went viral and exploded in price.

If this happens, a new wave of Memecoin millionaires could be created within weeks – or perhaps sooner.

The Solana Memecoin craze continues amidst larger Memecoins, such as Shiba Inu (Shib), Dogecoin (Doge), and Dogwifhat (WIF) trading sideways in recent weeks and losing momentum.

This is why many Shib, Doge, and WIF investors are instead investing in Solana Memecoins, such as Elecdon.

These memes have no inherent utility or value, but investors looking for high returns are investing in them due to their potential for rapid price appreciation.

#MarketDownturn #BinanceTurns7 #solana #DOGE: #wifالعملة

What factors influence Bitcoin price stability?

The CEO’s insights reveal that the balance between buy and sell walls has evolved significantly. Analysis of market data from 2020 to 2022 indicates that since May 2021, sell walls have typically outpaced buy walls, creating downward pressure. However, the recent surge in buy walls across exchanges indicates renewed investor confidence, which is crucial to Bitcoin’s price stability and upward trajectory.

This renewed confidence among investors is evident as their buying activity in the cryptocurrency market increases. The CEO’s comments come at a pivotal moment as this surge in buying pressure is seen as a key driver behind the bullish trends currently observed.

#MarketDownturn #BinanceTurns7 #Binane ##DOGE: #BTC

If Bitcoin, cryptocurrencies, and virtual assets have been the most controversial assets in recent years, MicroStrategy stock is also worthy of controversy and astonishment for what it has achieved this year. The stock has managed to achieve a typical performance in 2024 so far, rising by 233%, outperforming even Bitcoin, which people associate it with, given that the company has a portfolio full of Bitcoin and is under the command of one of the Bitcoin bulls, Michael Saylor.

As many expectations point to a new Bitcoin breakout, long purchases of the stock’s futures are increasing, which encourages the stock to continue its rise. The market views MicroStrategy stock as one of the most liquid and exposed options to Bitcoin and cryptocurrencies. Saylor seems to realize how closely his company and person are connected to the world of Bitcoin, which prompted him to stir up more controversy by proposing the idea of ​​a trillion-dollar Bitcoin bank.

Michael Saylor’s vision for a Bitcoin bank

Michael Saylor, co-founder of MicroStrategy, has made Bitcoin a cornerstone of his company’s strategy. The idea of ​​creating a trillion-dollar Bitcoin bank is not just a bold dream, it’s a vision that many investors seem to believe in. As evidenced by MicroStrategy’s stock rising a staggering 16% on the day the plan was announced late last week.

Should You Add Dogecoin to Your Portfolio?

The Dogecoin price drop over the past week appears to be a blessing in disguise for Dogecoin and its investors. According to the market cap to real value (MVRV) ratio, the drop has put the meme coin in an accumulation zone.

The MVRV ratio measures the profits and losses of investors. Currently, Dogecoin’s short-term 7-day MVRV is at 4.9%, indicating losses and the end of selling pressure.

Historically, an MVRV level between -4.9% and -14.9% for Dogecoin typically indicates the beginning of a recovery, making it an area of ​​opportunity for accumulation.

#Binance #bitcoin #solana $SOL $ETH $ETH

Token TON managed to pare some of its losses after the blockchain rebooted following a nearly five-hour outage.

While the outage was partly due to the popularity of the DOGS airdrop, which is part of the Ton Foundation’s efforts to raise awareness of what it sees as the unjust arrest of Pavel Durov, it wasn’t all bad news for the protocol’s native token.

Token TON managed to pare some of its losses during the Asian trading session, and is now down 0.44%, according to CoinMarketCap data. Reversing the bearish market move.

$BTC is down 6%, with Ethereum (ETH), Solana (SOL), Cardano (ADA), and Dogecoin (DOGE) all down more than 5%. XRP showed relative strength, down 3.4%, while Tron’s TRX token was the best performer among major assets, down 2%.

Liquidations in Ethereum futures reached a record high of $102 million, followed by Bitcoin at $96 million and a range of smaller altcoins at $40 million.
$USDC $SOL

#FDUSD‬⁩

Binance, the world’s largest cryptocurrency exchange by trading volume, has seen significant growth.

#FDUSD was launched in June 2023, and its market share on Binance peaked at 39% by the end of July 2024.

According to a recent report by research firm Kaiko, this surge was driven by Binance’s reintroduction of zero trader fees for trading pairs #FDUSDT .

As a result, daily trading volume has skyrocketed to an average of $6.5 billion.

Analysts at Kaiko warned that “#FDUST ’s success is largely dependent on Binance, as it is traded solely on the platform and is closely tied to its fee policies.”

$BTC $ETH $BNB

Bitcoin Short-Term Price Prediction

The $$BTC /$USD pair is currently trading near the crucial pivot point at $65,000, which has proven to be a key battleground, with several doji and bullish tail candles forming, indicating that uncertainty is dominating traders.

On the 4-hour chart, the RSI reading is 62, indicating that the price remains in an overbought zone, which could help to temporarily halt its upward trajectory. The nearest resistance level is at $65,000, with additional resistance levels at $66,782, $68,174, and $69,994; if the price manages to break these levels, it could continue its upward trajectory and reach higher levels.

Bitcoin fell slightly on Monday as the weekend rally ran out of steam, although growing optimism over interest rate cuts kept the cryptocurrency trading near a one-month high. Broader cryptocurrencies also retreated after posting strong gains since Friday, after Federal Reserve Chairman Jerome Powell said the bank was ready to cut interest rates. A weaker dollar, which fell to a 13-month low, also supported crypto prices.