Altcoin recorded a double-digit loss of 15.92% over the past week.
What you should know:
The dog-themed memecoin, SHIB, mirrored the broader market trend, trading at $0.00002428 after a 6.03% decline over the last 24 hours, making it one of the biggest losers in this period. This bearish momentum can be underscored by the RSI, with the same falling below the neutral 50-mark. A potential shift in momentum could occur if buyers push the price above the resistance at $0.00002593. However, a drop below the key support at $0.00002281 might trigger a further correction. Traders should closely monitor volume changes for clearer trend signals. #Shibarium
More about mini Dapps ; Mini DApps are small-scale, simplified versions of Decentralized Applications (DApps). Here are some key aspects of Mini DApps:
Characteristics: 1. Simplified user interface 2. Limited features or functionality 3. Proof-of-concept or demonstration purposes 4. Often built on blockchain platforms like Ethereum, Binance Smart Chain, or Polkadot _Examples:_ 1. Simple gaming DApps (e.g., rock-paper-scissors) 2. Basic decentralized finance (DeFi) applications (e.g., simple lending or borrowing) 3. Minimalist social media platforms (e.g., a simple messaging app) 4. Proof-of-concept supply chain management systems _Advantages:_ 1. Easy to develop and deploy 2. Low-cost and resource-efficient 3. Quick testing and iteration 4. Demonstrates potential use cases for blockchain technology _Use Cases:_ 1. Prototyping and testing new ideas 2. Educating users about blockchain and DApp functionality 3. Showcasing potential use cases for blockchain technology 4. Developing minimal viable products (MVPs) for further development
_Platforms for Building Mini DApps:_ 1. Ethereum 2. Binance Smart Chain 3. Polkadot 4. Solana 5. Polygon (formerly Matic Network) How can mini Dapps bring creators and developers communities closer together; Mini DApps can leverage DAOs (Decentralized Autonomous Organizations) for collaborative projects: Creators propose ideas, while developers vote on execution strategies. Profits are distributed transparently through smart contracts. Governance tokens ensure both communities have equal say in decision-making.
As of this writing, SAND has had the highest gain in the last 24 hours.
Since its breakout started, SAND has increased by over 170%.
What you should know:
The Sandbox (SAND) has experienced an explosive rally, spiking by over 72.46% in the last trading session. Currently trading at $0.75, SAND broke past its resistance zone of $0.30-$0.40, as depicted on the daily chart, fueled by high trading volumes. The 50-day and 200-day moving averages, at $0.30 and $0.31, respectively, turned into significant support levels, enabling the token's breakout. However, the Relative Strength Index (RSI) nearing 95 signals overbought conditions, indicating potential cooling-off periods. With substantial upward momentum, SAND could face resistance at $0.80 while support remains strong around the $0.50 level, ensuring the potential for further volatility in its price action.
What you should know - At press time, Solana was trading at $174.20, showing a slight pullback after reaching a recent high of $178.59. The daily chart displayed a symmetrical triangle breakout, where SOL broke above the upper trendline near $160 in mid-October, signaling a potential bullish continuation. The recent price action suggests that SOL could be aiming for the $180 level, a psychological resistance point. However, the retracement could indicate short-term profit-taking or consolidation before a further move upward. The Simple Moving Average (SMA) was trending upwards, at the time of analysis, reinforcing bullish sentiment. Moreover, the Average True Range (ATR) showed moderate volatility, hinting at stable trading conditions.
What you should know - DOGE recently broke above the 200-day SMA at $0.12874, which can be considered a bullish signal for long-term traders. The 50-day SMA at $0.11156 provided further support below this level. Moreover, the Directional Movement Index (DMI) showed strong buying pressure (+DI at 33.58) and low selling pressure (-DI at 8.03), with the ADX at 30.10 indicating the trend has been gaining strength. Immediate resistance was found at $0.14849, and a break above this could signal further upside. Increasing volume adds confirmation to the bullish move, but traders should watch for a potential pullback toward the 200-day SMA for support. #DOGE #dogecoin #TradingSignals
UNI was registering significant losses at press time.
This, when most of its competitors were in profit.
What you should know - Uniswap remains rangebound between $7.00 and $8.00, as indicated by the highlighted range in the chart. The price has tested both the upper and lower boundaries multiple times without a significant breakout, suggesting indecision in the market. The RSI is currently at 52.25, reflecting neutral momentum, with no strong signals of overbought or oversold conditions. Volume remains relatively low, indicating that there isn’t much conviction behind recent price movements. To break out of this range, a surge in volume would be required. A breakout above $8.00 could see UNI testing higher resistance levels around $9.00, while a drop below $7.00 could lead to a retest of the $6.00 support.
DOGE has been pushing hard to reverse the bearish momentum.
However, bulls have been meeting significant resistance at $0.14 level.
What you should know - Dogecoin has been trading within a descending triangle pattern on the daily chart, marked by a consistent downtrend and support around the $0.10 level. Despite recent attempts to break above the descending trendline, DOGE faced resistance near $0.12. At press time, the price hovered around $0.1137, experiencing a 2.52% drop in the last trading session. The volume showed moderate activity, suggesting mixed market sentiment. Awesome Oscillator displayed a mild bullish momentum, but without a strong surge, further gains may be limited. DOGE needs a decisive breakout above $0.12 to challenge higher resistance levels around $0.14. Conversely, if support at $0.10 fails, DOGE could revisit lower levels, potentially near $0.08. #Dogecoing #MarketTrends #BullishStrategy
Pepe has seen a dominance of sellers on its weekly chart.
At press time, the RSI rested near the neutral level.
What you should know - Pepe is trading within an ascending channel, indicating a period of consistent upward momentum. The price recently bounced from the lower boundary of the channel and is now approaching the mid-point, showing signs of bullish strength. The RSI at 54.5 suggests mild bullish momentum, with room for further gains before reaching overbought conditions. Volume has remained steady, supporting the price's ability to hold within this upward trend. If buying pressure increases, PEPE could test the upper boundary near $0.00001100, which aligns with the recent peak. A successful break above this level could open the way toward $0.00001300. However, failure to maintain the current trajectory may lead to a pullback to the lower channel boundary around $0.00000900. #PEPEGrowth #TradingSignals