Connect with us

Markets

Market Trend Meme Coins Buck to Lead New Week’s Rally

FinCrypt Staff

Published

on

Market Trend Meme Coins Buck to Lead New Week's Rally

Crypto Price Prediction: On Tuesday, the crypto market did not witness any major changes in its broader sentiment, with a 2% drop in Bitcoin Price to $61,600 indicated the continuation of the prevailing consolidation.

Defying the sluggish market momentum, meme coins are off to an impressive start this week, characterized by a notable entry into the sector’s top assets. According to data from Coinmarketcap, the total market capitalization of top meme tokens is $53.1 billion, reflecting an intraday increase of 4.6%. Furthermore, the 24 hours of these tokens recorded $8.7 billion, recording a growth of 142.8%.

This surge highlights the potential for meme assets to provide significant movement despite uncertain market sentiment.

Read too: Meme Coin Party Begins After GameStop Rally and Adds $5 Billion to Index

Crypto Price Prediction: Shiba Inu (SHIB)

Shiba Inu (SHIB) is a decentralized cryptocurrency that emerged as a meme coin but has since evolved to include several projects aimed at establishing a robust ecosystem. Initially created as an Ethereum-based ERC-20 token, it has gained significant attention and adoption, often considered a rival to Dogecoin.

Shiba Inu (SHIB) | Trading view

Amid the current market correction, Shiba Inu has been trading sideways for the past seven weeks, resonating on two converging trend lines. This dynamic resistance and support compressing the SHIB Price in a narrow range indicates the formation of the symmetrical triangle pattern.

This Shiba Inu coin is currently trading at $0.0000236 and has a market value of $840.8. With the asset price near the apex of the triangle pattern, a breakout of either of them is imminent.

A potential bullish breakout will release the build-up of bullish momentum and push Shiba Inu price towards $0.00003285.

Read too: Shiba Inu Coin Price Analysis: Reasons Why SHIB Is Poised to Hit $0.0001 in 2024

Dogwifehat (WIF)

Dog hat (WIF) is a memecoin based on the Solana blockchain, characterized by its light-hearted and community-focused nature. Despite its lack of functional utility, Dogwifhat’s appeal lies largely in its communal and speculative aspects, driven by its unique theme of a Shiba Inu dog wearing a hat.

Dog Hat (WIF) | Trading view

Similar to the SHIB price, Dogwifhat has been witnessing a consolidation trend over the past six weeks in the formation of a symmetrical pattern. Currently, the WIF Price it trades at $3.03 and continues to witness supply pressure on the general trend line.

This long wick rejection on yesterday’s daily candle indicates that this memecoin may prolong its current consolidation. Currently, the Dogwifhat coin has a market value of US$3 billion, and trading has risen 124% to US$705 million since yesterday.

A potential breakout of the pattern’s upper boundary will accelerate buying pressure and reinforce a renewed rally to $4.86.

Read too: Shiba Inu vs PEPE: Which Memecoin ERC 20 to Buy

Floki

Floki is a multifaceted cryptocurrency project that stands out for its community-driven approach and ambitious public service projects. Initially inspired by a tweet from Elon Musk about his dog named “Floki”, the token has grown to become a significant ecosystem in the cryptocurrency space.

Floki | Trading view

O Floki Coin It has recently entered a recovery phase, with its price recovering from a support level of $0.000109 in mid-April. Demonstrating an uptrend, the coin has formed three consecutive highs, boosting its value by 76% to a current trading price of approximately $0.0001934.

Amid a general surge in the cryptocurrency meme market, Floki has experienced a significant 21% increase in just the last two days. Consequently, its market capitalization has increased to $1.846 billion and its trading volume has increased by 77.6% today, reaching $526 million.

This price movement marks a decisive breakout of a two-month corrective downtrend, potentially setting the stage for buyers to retest the previous high of $0.00031.

Main advantage

The crypto market has been trading sideways over the past two weeks, with the price of Bitcoin hovering around $60,000. However, this consolidation has witnessed occasional spikes, and fast-moving sectors like meme cryptocurrency offer excellent opportunities in intraday and short-term trends.

Related articles

Source

We are the editorial team of FinCrypt, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on FinCrypt, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Información básica sobre protección de datos Ver más

  • Responsable: Miguel Mamador.
  • Finalidad:  Moderar los comentarios.
  • Legitimación:  Por consentimiento del interesado.
  • Destinatarios y encargados de tratamiento:  No se ceden o comunican datos a terceros para prestar este servicio. El Titular ha contratado los servicios de alojamiento web a Banahosting que actúa como encargado de tratamiento.
  • Derechos: Acceder, rectificar y suprimir los datos.
  • Información Adicional: Puede consultar la información detallada en la Política de Privacidad.

Markets

Crypto Markets Rebound as Spot Bitcoin ETFs Attract Massive Inflows

FinCrypt Staff

Published

on

Crypto Markets Rebound Ahead of Early Ethereum ETF Approval

This week saw $722 million worth of Bitcoin spot ETF inflows, including the largest daily inflow in a month.

Cryptocurrency markets rallied on Wednesday, driven by inflows into spot Bitcoin exchange-traded funds (ETFs).

The price of Bitcoin (BTC) is up 3% over the past 24 hours to last change hands at $65,200, according to CoinGecko. Ethereum (ETH) is up 2% and is trading at $3,471. Solana (SUN) and Polkadot (POINT) increased by 4%.

Bitcoin spot ETFs saw $422 million in daily inflows on Tuesday, the highest in the past 30 days, according to Far side data, . The all-time record for a single day was $1.05 billion on March 12.

Among Tuesday’s top contributors, BlackRock’s IBIT led with $260 million in inflows, followed by Fidelity’s FBTC with $61 million. This week has already seen more than $722 million in inflows.

Among the top 100 cryptocurrencies by market cap, Worldcoin (WLD) led with a 28% increase, followed by Helium (HNT) with 20% and Lido DAO (LDO) with 15%.

Worldcoin, a decentralized identity project led by OpenAI CEO Sam Altman, announced is extending the lockups for early investors and team members. This means that tokens will be gradually released through 2029, instead of the original 2027 plan. Token unlocks are generally seen as a negative because they increase supply and early investors can sell their tokens for profit.

Meanwhile, XRP, the token of the XRP Ledger network, jumped 8% after the CME and CF benchmarks introduced new indices and reference rates for XRP.

U.S. stocks faced a downturn on Wednesday. The S&P 500 fell 1%, while the Nasdaq Composite and Dow Jones Industrial Average both fell 2%.

Source

Continue Reading

Markets

Altcoins on the cusp of a major breakout – WLD, AR, and INJ prices could surge by 20% in the coming days

FinCrypt Staff

Published

on

Altcoins on the cusp of a major breakout – WLD, AR, and INJ prices could surge by 20% in the coming days

Crypto markets appear to have been taken over by the bulls as major tokens have surged above their crucial resistance zone. Bitcoin surged above $65,000 while Ethereum was above $3,500, and XRP, which had remained passive for quite some time, surged over 40% in the past few days to hit $0.6. The uptrend has been captured in most altcoins, with Worldcoin (WLD), Arweave (AR), and Injective (INJ) leading the rally. Here’s what to expect for these tokens in the coming days.

Worldcoin (WLD) Price Analysis

O Worldcoin Price has been trading inside a descending wedge since it marked a new ATH near $12 in the final days of Q1 2024. The recent price action helped the price break out of the upper resistance of the wedge, breaking above the crucial resistance zone between $2.21 and $2.39. Market sentiments have changed, but technicals suggest that the bulls may remain passive for a while, which could offer some room for a bearish pullback.

The price broke out of the wedge with a significant increase in volume, but the current volume suggests that the bulls have taken a step back. Meanwhile, the RSI is about to reach the upper boundary, which could attract bearish forces. Additionally, the DMI has undergone a bullish crossover, but the decline in the ADX suggests that the rally may remain consolidated above the gains. Therefore, the WLD price is expected to maintain a horizontal consolidation between $3 and $3.3 and trigger a fresh rally to $4.4 during the next bullish rally.

Arweave (AR) Price Analysis

Arweave formed a strong base around $25, which helped the rally trigger a recovery during the bearish attack. Mt. Gox and German terror forced the price to fall below $20. However, the recent price action has brought the altcoin within the bullish range and raised expectations of maintaining a decent uptrend for a few more days.

AR price has hit one of the major resistances around $30 to $31.5, which could act as a strong base once overcome. The buying volume is slowly increasing, which could keep the bullish hopes for the rally high. Moreover, the supertrend has just flashed a buy signal, indicating a clean reversal of the trend. Therefore, AR price seems primed to maintain a healthy uptrend and rally above $40. However, if the bulls maintain a similar trend, making new highs above $50 may not be a tedious task for the bulls.

Price Analysis of Injective (INJ)

Injective price has been showing sharp strength since the beginning of the year and hence, the recent turnaround is expected to revive a good uptrend going forward. The bears engulfed the rally to a large extent, but the recent price action suggests that the bulls have regained their dominance. Therefore, INJ price is expected to maintain a strong uptrend with a bearish interference on the way down.

INJ price has surged above the lower support zone and has registered consecutive bullish candles. Although the volume is below the required levels, the OBV is maintaining a sharp uptrend. Furthermore, the Ichimoku cloud lead span B is heading towards the lead span A and a healthy crossover indicates the start of a new uptrend. However, INJ price may be out of the bears’ reach once it secures the resistance zone between $30.77 and $32.12, which seems to be on the horizon.

Source

Continue Reading

Markets

Ethereum at $3.5K, Exchange Supply Hits 34-Month High

FinCrypt Staff

Published

on

Ethereum at $3.5K, Exchange Supply Hits 34-Month High

Ethereum (ETH) supply on exchanges has hit a 34-month high as the asset’s price surpassed the $3,500 mark.

ETH has risen 2.3% over the past 24 hours and is trading at $3,490 at the time of writing. The second-largest cryptocurrency — with a market cap of $419 billion — briefly touched an intraday high of $3,517 earlier today.

ETH Price, Whale Activity, RSI, and Exchange Supply – July 17 | Source: Santiment

Ethereum’s daily trading volume also increased by 7.6% to reach $19.8 billion.

According to data provided by Santiment, the supply of Ethereum on exchanges has reached $19.52 million ETH. This level was last seen in September 2021, when the asset was trading around the same price.

On the other hand, data from the market intelligence platform shows that the number of whale transactions has fallen by 12% in the last day — falling from 8,730 to 7,629 unique transactions per day.

The move shows that the supply of Ethereum on exchanges has been increasing with small deposits rather than large transactions from whales.

Additionally, the ETH Relative Strength Index (RSI) is currently hovering at the 60-mark, per Santiment. The indicator shows that Ethereum is slightly overbought at this price point, but it may not be in a critical position due to its large market cap.

One of the main drivers of Ethereum price increase is ETH spot expectations ETFs in the US Investment products are scheduled to start trading on July 23rd.

Source

Continue Reading

Markets

Bits + Beeps: How to Play the ‘Trump Trade’ in Cryptocurrencies After the Assassination Attempt

FinCrypt Staff

Published

on

Bits + Bips: How to Play the ‘Trump Trade’ in Crypto After the Assassination Attempt

Also, how much will the Fed cut rates (and when)? What will be the inflows into ETH ETFs? And what is the near future for Bitcoin?

Posted on July 17, 2024 at 12:00 PM EST.

Listen to the episode at Apple Podcasts, Spotify, Capsules, Source, Podcast Addict, Pocket molds, Amazon Musicor on your favorite podcast platform.

In this episode of Bits + Bips, hosts James Seyffart, Alex Kruger and Joe McCann, joined by guest Jack Platts, dive into the market reaction to the recent assassination attempt on former President Donald Trump, analyzing how this event will influence the 2024 US presidential election and the cryptocurrency markets.

They also cover potential rate cuts: Could there be a cut in July? How big could the September rate cut be? Could the decision be influenced by the upcoming election?

They also give their predictions on what percentage of BTC ETF inflows the ETH ETFs will reach, and James talks about what he expects for Grayscale’s ETHE (hint: his outlook would be positive for ETH).

Finally, they delve into what’s next for Bitcoin as the German government runs out of BTC and Mt. Gox distributions begin. Just now?

Program Highlights:

  • Whether Trump’s shooting decided the election and whether the event caused a “flight to safety”
  • How election markets are becoming a place to watch election probabilities and whether cryptocurrencies “lean right”
  • Whether rate cuts will occur in July or September and by how much they will cut: 25 bps or 50 bps
  • How Joe sees the relationship between global liquidity cycles, rate cuts, and the potential rise of Bitcoin
  • What are the new updates about Ethereum ETFs and their expected launch?
  • Why Solana Hasn’t Performed Significantly Better Since Trump News
  • What Market Breadth Indicates About the Current Market Rally and the Impact of Rates on Small Caps
  • Everyone’s predictions on ETH ETF inflows and how much outflow we’ll see on Grayscale’s ETHE
  • What’s Next for BTC After German Government Exits Bitcoin and Mt. Gox Giveaways Starting This Week

Hosts:

Guest:

  • Jack PlattsCo-Founder and Managing Partner of Hypersphere Ventures

Source

Continue Reading

Trending

Copyright © 2024 FINCRYPT.INFO. All rights reserved. This website provides educational content and highlights that investing involves risks. It is essential to conduct thorough research before investing and to be prepared to assume potential losses. Be sure to fully understand the risks involved before making investment decisions. Important: We do not provide financial or investment advice. All content is presented for educational purposes only.