đ Will Dogecoin Be Dethroned in 2024? Analyst Predicts a Meme Coin Flip!
- đź Prediction: Former Goldman Sachs analyst Murad Mahmudov predicts that Dogecoin (DOGE) will be surpassed by another meme coin in 2024. He claims, "The biggest trick they played on you is to convince you that DOGE cannot be flipped."
- đŹ Discussions Sparked: This bold prediction has sparked debates about which meme coin could potentially dethrone DOGE.
- đ DOGE's Current Status: For now, Dogecoin remains the only meme cryptocurrency in the top 10. Despite Shiba Inu (SHIB) briefly surpassing DOGE in October 2021, DOGE still holds a significant lead ($15.3 billion vs. $8.3 billion).
- đ Other Challengers: Pepe (PEPE) and Dogewithhat (WIF) are potential challengers, but they're currently far from catching up to DOGE.
- đ€ Realistic or Not? Some commentators believe it's unrealistic for any other meme coin to surpass Dogecoin, given the massive gap.
- đ Inflationary Edge: Dogecoin's inflationary nature, with a 3.5% annual supply increase, gives it an advantage. This ensures rewards for miners and helps the cryptocurrency function effectively as a currency.
$DOGE
{spot}(DOGEUSDT)
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What you need to know before Fed chairman Powell's speech today
Markets await Fed chairman Jerome Powell's speech at Jackson Hole. It is described as âthe most risky speech of the yearâ.
This talk will take place in an environment where concerns that the Fed is late for interest rate cuts are growing and this situation is increasing the pressure on the Fed. According to the Washington Post, Powell will give the riskiest speech of the year.
Whether the Fed will cut interest rates in September is no longer a question. What is not known is whether this interest rate reduction will be 25 or 50 basis points. Powell avoided giving important details in his past Jackson Hole speeches. While the Fed president can give messages that an interest rate cut will be made in September, he can stay away from hinting about the size of the cut.
As of today, the markets predict that the Fed will reduce interest rates by 100 basis points by the end of the year. We have three meetings ahead of us, September, November and December. Therefore, in order for the market to be expected, a discount of 50 basis points is required in one of these meetings. Fed officials, on the other hand, have closed the door to this possibility in their speeches so far.
Prior to Powell's speech today, there was a significant development regarding employment data. The Department of Labor announced that the US economy created 818 thousand less jobs than the previously announced data in the 12-month period until March 2024. This downside employment data revision was recorded as the largest downward revision in the last 15 years. It also increased pressure for the Fed to lower interest rates.
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'50 basis points can leave an open door for a discount'
In a report released recently, investment bank Evercore suggested that Powell will give messages that will leave the door open to a 50-point discount.
$TON Price Prediction: Up up, All the Way - BeinCrypto Analytics
Toncoinâs price could continue its ongoing incline as the gradual recovery is painting a path to rally. Plus, the demand could be reinstated once TON crosses the $7.07 resistance.
This would enable a rise to $7.53, an untested level since mid-July. Flipping it into support would allow Toncoin to travel upwards and potentially breach the all-time high of $8.28.
On the other hand, a failed breach of $7.07 would send the altcoin into consolidation within this resistance and $6.43 support. Losing the uptrend could invalidate the bullish thesis, extending the investorsâ wait for profits.
#KDAUSDT is hovering near a key support zone at $0.40, signaling a possible bullish continuation. The price is within a falling wedge pattern and is now eyeing a breakout above the descending resistance line. The next target? Internal resistance at $0.900!
If momentum holds, a breakout could lead to a significant rally, reflecting past bullish trends. But, caution is keyâif momentum fades, we might see a dip to the lower support range around $0.350â$0.400. Stay sharp!
#Trading #Kadena
Pro-crypto candidate Robert F. Kennedy Jr. is dropping out of the 2024 presidential race, surprising investors by considering an endorsement of Donald Trump.
Kennedy, a staunch cryptocurrency advocate, could sway Trump, who has recently shown interest in Bitcoin. The endorsement could boost pro-crypto regulation under a Trump administration.
Following the announcement, the price of Bitcoin surged 3% to $61,000, a sign that investors see the new political alignment as a potential future for crypto in the United States.
Grayscale, a prominent crypto asset manager, has introduced the Grayscale Avalanche Trust, providing investors with exposure to AVAX, Avalanche's native token. This move comes amid increasing regulatory scrutiny and market uncertainty, raising concerns about the long-term viability of such investment vehicles.
The launch of the Grayscale Avalanche Trust signifies a continued interest in diversifying crypto portfolios despite the prevailing bearish sentiment. However, the market's reaction remains cautious, reflecting broader apprehensions about regulatory challenges and the inherent volatility of digital assets.
Investors should remain vigilant as the regulatory landscape evolves, potentially impacting the performance and accessibility of crypto-related investment products.
As Bitcoin hovers between $60K and $62K, it's casting a shadow over the broader crypto market, with many altcoins likely mirroring its behavior. This situation typically reflects a cautious market stance, where traders are closely monitoring Bitcoin's movements before making decisions on other cryptocurrencies.
### Current Market Landscape:
1. Bitcoinâs Narrow Range: The tight trading range of $60K-$62K indicates that Bitcoin is in a consolidation phase, neither breaking out nor dipping significantly, which introduces uncertainty into the market.
2. Altcoin Reactions: Given Bitcoinâs role as the marketâs benchmark, altcoins are likely to follow its lead. In a scenario where Bitcoin is range-bound, altcoins might also see similar sideways movements without clear direction.
3. Market Sentiment: The current fluctuations suggest a lack of strong momentum in either direction, possibly leading to reduced trading volumes and a choppy market environment.
### Key Indicators to Monitor:
- Bitcoinâs Next Move: A breakout above $62K or a drop below $60K by Bitcoin could spark more substantial market shifts, influencing the broader crypto landscape.
- Altcoin Correlation: Itâs essential to observe whether altcoins continue to move in tandem with Bitcoin or start to diverge, which can occur under certain market conditions.
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If we look on stats then it come to know that @CZ and Sam Bankman Fried are two persons who made most profits through Crypto Trading strategy . Today we will reveal their common strategy that they used and get succeed . Assure you must read full post. First we will discuss both of them personal strategy that was not common and then we will discuss their common strategy .
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We are going to discuss these strategy :
âą Sam Bankman-Fried's Quantitative Trading
âą CZ Volume-based Strategy
âą Arbitrage Trading
Sam Bankman-Fried's Quantitative Trading:
His approach was data-driven, relying on complex algorithms and quantitative analysis to identify trading opportunities. This included market-making strategies, exploiting inefficiencies in the crypto market, and high-frequency trading.
CZ Volume-based Strategy:
CZ focused on high-volume trading to capture small, consistent profits across many trades. The idea was to execute a large number of trades with minimal price movement, thereby reducing risk while still generating profits. This strategy works particularly well in highly liquid markets.
These strategy was their personal and now we will discuss their common strategy . That is:
Arbitrage Trading :
Arbitrage trading was a crucial strategy for both Changpeng Zhao (CZ) and Sam Bankman-Fried (SBF). CZ used this method through high-frequency trading and market-making, profiting from small price differences across various exchanges by executing a large volume of trades. SBF leveraged the "Kimchi Premium," buying Bitcoin in lower-priced markets like the U.S. and selling it at higher prices in South Korea. Both capitalized on the early inefficiencies in the crypto market, using speed, multiple exchange access, and technology to secure consistent profits.
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Kamala Harris Backs Crypto with Promises of Supportive Policies
During a recent Bloomberg News roundtable at the Democratic National Convention (DNC) on Wednesday, Vice President Kamala Harris expressed her support for the cryptocurrency sector, signaling favorable policies to aid its growth. Brian Nelson, a senior campaign advisor, confirmed Harris's commitment to ensuring that emerging technologies like cryptocurrency continue to thrive. This move has sparked discussions among the crypto community, with some viewing it as a genuine effort to engage, while others speculate it could be a strategic bid to win over voters.
Meanwhile, former President Donald Trump remains a prominent figure in the crypto world, boasting a strong following. His âTrump 47â joint fundraising committee has raised over $4 million in cryptocurrencies, and Trump has disclosed owning $5 million in crypto assets, with an additional $7 million earned from his NFTs. The contrast between Harris's newfound support for crypto and Trump's established backing has led to varied opinions on the sincerity and impact of Harris's stance.
Elon Musk, known for his influence on social media, conducted an informal poll on X, asking his followers who they would support in the upcoming presidential election: Donald Trump or Kamala Harris. The poll received over 5.8 million responses, with Trump leading significantly, garnering 73.2% of the votes compared to Harris's 26.8%. This margin has further fueled the debate on Harris's potential impact within the crypto community and her overall political strategy.
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