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Tag: meme coin

  • Solana’s Biggest Memecoin Gains $681,000 In 3 Days

    Solana’s Biggest Memecoin Gains $681,000 In 3 Days

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    Dogwifhat (WIF) has emerged as an unlikely hero, defying the odds and wagging its pixelated tail all the way to the top of the Solana meme coin food chain.

    From Humble Beginnings To Sin City Lights

    Dogwifhat, sporting a logo featuring a Shiba Inu sporting a stylish knit cap, started as just another meme coin vying for attention in the crowded digital landscape. However, a recent community-driven fundraising campaign propelled WIF into the spotlight.

    By collectively raising over $680,000, the Dogwifhat faithful secured a prime advertising spot – a giant image of their beloved canine mascot plastered across the dazzling Las Vegas Sphere. This audacious move, fueled by internet enthusiasm and a dash of canine cuteness, sent shockwaves through the crypto-verse.

    As of today, the market cap of cryptocurrencies stood at $2.4 trillion. Chart: TradingView.com

    Memecoin Mania On Solana’s Speedy Blockchain

    Solana, a blockchain known for its blazing-fast transaction speeds and lower fees, has become a breeding ground for meme coins. Dogwifhat exemplifies this trend.

    Unlike its meme coin cousin Dogecoin, which operates on its own blockchain, WIF leverages Solana’s technological prowess. This translates to a smoother trading experience for users, with minimal transaction fees and the ability to seamlessly interact with other blockchain ecosystems.

    Industry experts like Ryan Selkis, CEO of Messari, point to these features as key differentiators for Solana, making it a prime playground for the next generation of meme coins.

    WIF seven-day price ascent. Source: Coingecko

    Dogwifhat: More Than Just A Pretty Shiba Inu?

    The astronomical rise of Dogwifhat has sparked conversations about its potential to transcend its meme coin origins.

    Proponents argue that WIF’s association with the fast-growing Solana network and its focus on community engagement could pave the way for a more substantial role in the world of decentralized finance (DeFi).

    The project itself claims to be “the most sophisticated meme coin ever made,” hinting at potential future developments beyond just viral appeal. However, skeptics remain cautious, highlighting the inherent volatility of meme coins.

    Featured image from Meme Arsenal, chart from TradingView

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Christian Encila

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  • Biden-related meme coin surges 4,700% amid Super Tuesday results

    Biden-related meme coin surges 4,700% amid Super Tuesday results

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    The meme coin market reacted with growth after Super Tuesday in the United States, which saw Joe Biden and Donald Trump named presidential candidates.

    Meme coins based on the Solana blockchain lead the market amid the overall rise. Based on Biden’s name, the jeo boden (BODEN) token is up more than 4,700%, according to CoinMarketCap. At the time of writing, the asset is trading at $0.04. At launch, the token price fluctuated around $0.002.

    BODEN token price | Source: CoinMarketCap

    Against rising asset prices, the Donald Trump-related cryptocurrency TRUMP fell to $8.08. However, the cost of the token is still significantly higher than its value at the end of last year.

    Biden-related meme coin surges 4,700% amid Super Tuesday results - 2
    TRUMP coin price | Source: CoinMarketCap

    Both BODEN and TRUMP are not directly associated with politicians. However, Trump previously received 579,281 TRUMP from the project team. In January 2024, the asset went up sharply. In comparison, in November 2023, it traded between $0.01 and $0.08. At the end of February, the value of the TRUMP meme coin portfolio in Trump’s wallet increased to $4.05 million.

    The price jump is likely due to Biden and Trump’s political victories in the Super Tuesday contests. Trump won the election as the Republican candidate in 14 out of 15 states, while Biden only lost the primary in American Samoa.


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    Anna Kharton

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  • FLOKI Grows Over 300% As Memecoin Breaches $400 Million TVL

    FLOKI Grows Over 300% As Memecoin Breaches $400 Million TVL

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    Floki Inu (FLOKI), a canine-themed cryptocurrency, has witnessed a remarkable surge in its price, capturing the attention of investors, traders, and enthusiasts alike. The coin’s value has experienced a sharp increase, with the past 24 hours alone seeing a surge of over 50%.

    FLOKI Tallies An Impressive 336% Weekly Gain

    However, it is the weekly timeframe that has truly astounded market observers, as FLOKI recorded an impressive rally of 336%. This surge in price comes on the heels of a community-backed proposal to burn 2% of the token’s supply.

    The proposal to burn tokens was met with overwhelming support from the community, with nearly 90% of votes favoring the initiative. The top voter staked a staggering 117 billion tokens, demonstrating the belief in the long-term security and stability of the Floki project.

    The burn event is scheduled to take place after a seven-day period, and its purpose is to minimize the risks associated with token exploitation and dumping, thereby ensuring the project’s sustainability.

    Social Media Buzz And Positive Sentiment 

    An investigation by NewsBTC has revealed a surge in social media mentions for Floki Inu in recent days, indicating the continued popularity of the meme coin within the cryptocurrency community.

    Moreover, a rise in weighted sentiment suggests that positive views towards the token prevail at the time of writing. This growing social media buzz and optimistic sentiment have played a role in attracting attention to Floki Inu and contributing to its meteoric rise in value.

    Source: Santiment

    FLOKI Total Value Locked Soars

    Meanwhile, Floki has reached a noteworthy accomplishment. Total Value Locked (TVL) across its ecosystem goods has exceeded $400 million. This accomplishment follows the cryptocurrency’s all-time high of $366 million, which showed its quick rise and investor appeal.

    As the crypto market continues to evolve, all eyes remain on Floki Inu and its future trajectory. Market participants eagerly await the outcome of the token burn event and closely monitor the impact of social media trends and cautionary indicators on the coin’s price.

    Total crypto market cap at $2.3 trillion on the daily chart: TradingView.com

    The coming days will shed more light on whether Floki Inu can sustain its current momentum or if a correction is on the horizon.

    Related Reading: Shiba Inu Just Ballooned To 124% – What’s Pushing The Price Up?

    Floki Inu’s recent surge in price, driven by overwhelming community support for a token burn proposal, has captured widespread attention. The coin’s popularity on social media and positive sentiment within the cryptocurrency community further contribute to its rise.

    Featured image from Pexels, chart from TradingView

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Christian Encila

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  • Shiba Inu Just Ballooned To 124% – What’s Pushing The Price Up?

    Shiba Inu Just Ballooned To 124% – What’s Pushing The Price Up?

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    Shiba Inu (SHIB) has experienced a remarkable surge in recent times, mirroring the broader optimism sweeping the cryptocurrency market. This uptrend coincides with Bitcoin’s impressive rise above $63,000.

    Shiba Inu Explodes On The Weekly Timeframe

    The memecoin has witnessed significant gains, with a solid 61% jump in a 24-hour timeframe, a more impressive 124% increase over the week, and a stellar 50% growth in the past month.

    Source: Coingecko

    Notably, SHIB has finally clawed its way into positive territory for 2023, boasting a 10% gain since February. In addition to this, its market capitalization crossed the $8.5 billion barrier for the first time in a year.

    This bullish momentum is further bolstered by technical indicators. The recent price climb above $0.000014 has demonstrably reignited investor interest, as evidenced by the substantial 75% surge in trading volume. This suggests a potential breakout from a previous consolidation phase and could signal further upward movement if buying pressure persists.

    SHIB seven-day price rally. Source: Coingecko

    Market Strength And Bull Run Potential

    The total market capitalization of cryptocurrencies is nearing $2.5 trillion, a significant milestone. This uptick has fueled speculation among some analysts for a potential bull run, a period of sustained price increases. While past performance doesn’t guarantee future results, this rising market cap does suggest a return of investor confidence.

    Bitcoin is now trading at $61.970. Chart: TradingView.com

    These often highly volatile assets have experienced explosive price jumps, potentially contributing to a positive feedback loop within the broader market. This “meme coin frenzy” could be a sign of increased retail investor participation, which can be a double-edged sword, driving prices up but also increasing volatility.

    SHIB Investor Sentiment

    An interesting technical indicator is the improvement in Shiba Inu (SHIB) investor sentiment. Data suggests that over 50% of SHIB holders are currently sitting on profits, compared to a mere 10% in September 2022. This shift reflects the positive impact of the recent price increase and could further fuel buying pressure if the trend continues.

    Shifting Tides

    Meanwhile, on-chain data from Lookonchain indicates a sizeable investor, commonly referred to as a “whale,” has made a strategic shift in their holdings. This whale liquidated nearly 2 trillion PEPE tokens, profiting $3.5 million. This divestiture suggests the whale perceived PEPE to be nearing a price peak or no longer aligned with their investment goals.

    Following the PEPE sale, the whale reinvested a portion, $893,000, into Shiba Inu (SHIB). This strategic allocation of 76 billion SHIB tokens suggests the whale anticipates potential growth in SHIB’s price. However, it’s important to remember that this is a singular instance.

    Featured image from Pexels, chart from TradingView

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Christian Encila

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  • Dogwifhat What? Meme Coin Barges Into 86th Spot With 320% Rally – What’s Going On?

    Dogwifhat What? Meme Coin Barges Into 86th Spot With 320% Rally – What’s Going On?

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    The strong ascent of Dogwifhat (WIF) has made it stand out among cryptocurrencies and captivated investors. Crypto markets are gearing up for the first weekend of the month, and memecoins in particular are showing strong signs of positive momentum.

    Amidst the increased hope, the meme coin based on Solana experienced an incredible 320% rally last week, propelling WIF to the top 100 cryptos from a valuation of $1 billion or more. However, why has this ascent been so rapid?

    Dogwifhat’s Rise: Bulls In Action

    At the time of writing, the price of Dogwifhat had increased 35% to $1.20, and its trading volume had surged 75% to $388 million. Over the past day, the value of one WIF token has fluctuated between $0.83 and $1.32.

    Withstanding sufficient bullish and bearish pressures, WIF has been trading within an ascending parallel channel since its debut. In spite of this, bulls should be prepared to fight fiercely against any bearish pressures that may arise.

    Bitcoin is now trading at $61.921. Chart: TradingView.com

    As a result, we anticipate that the WIF price will first reach $1.5 after continuing its upward consolidation along the parallel channel’s upper resistance. If the bulls keep on their momentum, getting to $2 might not be too difficult for dogwifhat pricing.

    Robinhood Europe’s IPO of the WIF token occurred at the same time as Dogwifhat’s stratospheric ascent in the cryptocurrency hierarchy. European customers of Robinhood can now trade WIF in addition to a plethora of well-established tokens, such as XRP, Cosmos, and Polkadot.

    The anticipation for the Robinhood listing was reaching a peak, and former BitMEX CEO Arthur Hayes was among the many who took to social media to voice their opinions.

    X influencer “OSF” has fueled rumors that other major exchanges like Coinbase, Binance, or Gemini may soon join Robinhood in listing Dogwifhat, which is a huge deal for everyone.

    Whale Confidence Boosts Dogwifhat’s Surge

    Separately, Lookonchain, an on-chain data source, uncovered substantial whale activity in the WIF area. A large investor recently bought more over 673,000 WIF tokens at $1.36 each after withdrawing around $918,000 worth of Solana from Binance.

    Also, this whale has clearly seen the potential in WIF; he has spent $2 million to buy 2.82 million tokens at $0.71 each, demonstrating his faith in the project. This whale’s activities, which resulted in an unrealized profit of almost $1.35 million, add to the positive attitude around dogwifhat (WIF) and its prospects for significant gains in the coming months.

    Featured image from Pexels, chart from TradingView

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Christian Encila

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  • PEPE memecoin fork PORK above $200m market cap in 48 hours

    PEPE memecoin fork PORK above $200m market cap in 48 hours

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    PORK, a pink Pepe-The-Frog-themed memecoin spin-off of PEPE, surged over 450% in less than two days.

    At a $200 million market capitalization hours following its debut, PepeFork (PORK) sat above Baby Doge Coin as the ninth largest memecoin in crypto. FORK launched on Uniswap in a pool paired with wrapped Ether (WETH) and is also tradable on MEXC. 

    PORK is an offshoot crypto from some in the community around viral Ethereum-based meme token PEPE, the fifth largest memecoin at a $380 million market cap. PEPE was a main character during the meme frenzy in the first half of 2023, where crypto speculators turned into overnight millionaires from a few bucks in initial capital. 

    The period was also awash with streams of rug pulls and scam tokens as some traders chased 100 to 1,000 times returns on these altcoins.

    PepeFork market cap | Source: dexscreener

    According to Dexscreener and Etherscan, PORK has a 420 trillion supply; the top 10 holders command over 15% of that number. All of these 10 addresses were no more than two days old when they received PORK tokens, and they all held $30 to $200 in ETH, possibly for gas fees and on-chain swaps.

    These new wallets exclusively owned PORK and ETH coins at press time. The deployer wallet also holds over 20% of the supply. The wallets showed at least $70 million in value and unrealized gains. 

    PEPE memecoin fork PORK above $200m market cap in 48 hours - 2
    PORK top holders | Source: Etherscan

    Members of the PEPE community threw aspersions on the new memecoin, predominantly promoted by a pseudonymous crypto participant known as Pauly0x. PEPE backers accused the figure of operating Ponzi schemes and spinning hollow cryptocurrencies out of hot narratives for profit. 

    Pauly0x alleges that PEPE developers are the true scammers and that his project is a legitimate effort as part of the Pond ecosystem. Pond is another defi idea founded by Pauly0x and several other cryptocurrencies. Some cryptos have seemingly crashed and traded for pennies on decentralized exchanges.

    It remains to be seen if PORK will outshine its predecessor PEPE and become a top three memecoin, boasting liquidity and a thriving ecosystem supported by meme culture. The token has around $12 million in unlocked liquidity with a $202 million fully diluted valuation.

    Cautioned is advised when trading memecoins as these tokens may face massive volatility and sharp price movements, or devs may withdraw liquidity.


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    Naga Avan-Nomayo

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  • Can February Be Dogecoin’s Month? Bullish Indicators To Watch

    Can February Be Dogecoin’s Month? Bullish Indicators To Watch

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    In an exciting turn of events, Dogecoin (DOGE), the popular meme-based cryptocurrency, is once again attracting attention in the market as February approaches. Meme coins, including DOGE, are gearing up for a potential comeback amidst a renewed sense of recovery in the crypto market.

    The surge in network expansion, if sustained, has the potential to positively impact the price of DOGE, according to market experts. Over the past week, the number of new addresses in the Dogecoin network has skyrocketed by over 1,000%, showcasing the increasing interest and participation in the cryptocurrency.

    This surge reached an all-time high on January 29, with an unprecedented 247,200 new DOGE addresses created in a single day.

    According to the most recent data available, Dogecoin is presently being traded at $0.07, accompanied by a 24-hour trading volume amounting to around $1 billion and a market capitalization of $11.50 billion.

    Source: Coingecko

    Dogecoin Upward Trajectory Signals Positive Trend

    Although Dogecoin witnessed a marginal 1.7% decrease in value within the last 24 hours, it has gained 1.4% increase over the course of the past week. This upward trajectory suggests a positive trend that is likely to be well-received by both investors and enthusiasts in the cryptocurrency community.

    The projected minimum and maximum prices are expected to hover around $0.0816 and $0.0838, respectively. These figures provide investors with a glimpse into the potential price range for DOGE in the coming months.

    Dogecoin currently trading at $0.07979 on the daily chart: TradingView.com

    A recent post by crypto analyst Ali Martinez on X has shed light on a remarkable surge in growth within the Dogecoin network, indicating signs of a swift reversal in its price trend.

    Source: @ali_charts/IntoTheBlock

    And in a related development, prominent cryptocurrency exchange Changelly has released its most recent Dogecoin price forecast, predicting a marginal 0.05% increase that could propel the value to $0.08 by January 31, 2024.

    Doge’s Momentum: Bullish Signals Amid Skepticism

    However, it is important to note that the prevailing market sentiment, as indicated by Changelly’s analysis of technical indicators, leans towards bearish, with a Bearish Bearish score of 55%. The Fear & Greed Index stands at 55, indicating a slight inclination towards greed among market participants.

    With the surge in new addresses and the positive outlook from analysts, the cryptocurrency community is eagerly monitoring Dogecoin’s movements.

    Enthusiasts and investors alike are eagerly awaiting to see whether the meme coin will “pop” and break through in the coming weeks. The recent surge in network growth and the optimistic market sentiment surrounding Dogecoin indicate that it may continue to be a focal point of interest in the cryptocurrency market.

    In the meantime, the question lingers: Can February be Doge’s month? With bullish indicators suggesting a potential price explosion, excitement is palpable. As Dogecoin gains momentum with its growing network and positive sentiment, the coming weeks will be pivotal.

    Featured image from Shutterstock, chart from TradingView

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.



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    Christian Encila

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  • CorgiAI overtakes PEPE as meme coin market cap exceeds $21b

    CorgiAI overtakes PEPE as meme coin market cap exceeds $21b

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    CorgiAI has recently overtaken PEPE to become the fourth-largest meme coin, with the token’s value surging by approximately 11% within a week. 

    The rise comes amid a broader increase in the meme coin market capitalization, which has grown by 3% today, outpacing the overall cryptocurrency market’s growth of 1%. CorgiAI is a meme coin that operates on the Cronos blockchain, fusing the nature of meme coins with artificial intelligence.

    The coin has been devised to support various AI-related activities, including creating and trading AI-based crafts and NFTs and offering a platform for AI-related job opportunities. With a total supply of 500 billion tokens, CorgiAI emphasizes community participation and creative exploration in the growing AI sector. 

    Dogwifhat, another new token launched in December, has surpassed FLOKI, positioning itself as the sixth-largest meme token. Dogwifhat (WIF) has demonstrated impressive growth, appreciating over 65% since its inception and 34% in the past week alone. Newly launched Solana-based meme coins have shown impressive growth throughout 2023. BONK, launched in December 2022, has recorded a 1,157% growth in the past year.


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    Mohammad Shahidullah

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  • Dogecoin’s yearly gains take a hit as rival memecoins gain popularity

    Dogecoin’s yearly gains take a hit as rival memecoins gain popularity

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    Dogecoin is currently the worst-performing token in yearly gains among the top-tier meme coins. 

    Dogecoin (DOGE) has experienced a 12% decline over the past month, underscoring a period of subdued performance with only a marginal 1% increase over the past year. This downturn is further accentuated by a 45% decline in its trading volume in the last 24 hours, signaling a notable shift in investor engagement.

    In contrast, other leading meme coins are charting a different course. Shiba Inu has seen an increase of 2% in the past month and an overall growth of 3% over the year. This performance, although modest, highlights a resilience that Dogecoin currently lacks. 

    Source: CoinMarketCap

    Bonk has had a stellar year with an extraordinary 1,400% surge in value, complemented by a 24% increase in the past month alone. This impressive trajectory illustrates the potential for rapid gains in this volatile market segment.

    Despite facing a slight dip today, PEPE has shown a commendable 9% increase since last week. Another innovative entrant, CorgiAI, which merges memecoins with AI technology, has shown a remarkable 29% growth since last week. 

    Overall, it seems that DOGE’s gains have not been as handsome as its other major competitors, which could be attributed to the growing popularity of other meme coins. Despite this, Dogecoin remains the 11th largest token in the entire market. 


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    Mohammad Shahidullah

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  • Memecoin market cap falls 12% during today's liquidation

    Memecoin market cap falls 12% during today's liquidation

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    Memecoins took the hardest hit in today’s market selloff, losing almost double the market cap of the average market. 

    Earlier today reports from Matrixport regarding the SEC’s potential rejection of Bitcoin ETF applications triggered a significant liquidation across the market. Within four hours, the market lost over $540 million, with Bitcoin and Ethereum dipping nearly 10%.

    However, it appears that the meme coin market took the sharp end of liquidation, with all major meme tokens losing over 10% of their value today. Bonk, the newest and most trending meme coin, lost nearly 16% today, and the token is 66% down from its all-time high reached less than three weeks ago.

    Dogecoin perhaps suffered the worst fall among the top meme tokens, from $0.090 to $0.0819 in just 15 minutes. Since then, the leading meme coin slightly recovered. Shiba Inu also lost over 10% on the day, but the token’s notable rally in December means it’s still nearly 8% up in 30 days. 

    The crypto market cap fell by 4.9% today, but the meme coin market cap fell by nearly 11.5% — more than double the average. As more speculations around the potential approval of Bitcoin ETFs keep coming, it will be intriguing to see how significantly it impacts the meme coin market. 


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    Mohammad Shahidullah

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  • Buy Dogecoin, analyst says 'no short opportunities'

    Buy Dogecoin, analyst says 'no short opportunities'

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    Crypto analyst behind the Pingu Charts channel believes that Dogecoin (DOGE) may present a buying opportunity after testing a key support level.

    The analyst points out that Dogecoin (DOGE) recently found support near $0.088 after a steep sell-off. This created a V-shaped recovery, with the price bouncing sharply off the support zone.

    You can see that Doge, of course, had a very nice V-shaped recovery. Of course, the bulls did come in after we were in extreme oversold condition.

    Pingu Charts

    The analyst believes the move back above DOGE’s short-term exponential moving averages (EMAs) is a positive sign. He views these EMAs as potential support levels for another move higher.

    As long as we hold above these exponential moving averages, we are not looking for any sort of swing shorting positions, and dip opportunities are buying opportunities.

    Pingu Charts

    MeCharts has a price target of 11 cents for DOGE soon. This level aligns with resistance on the crypto asset’s chart. A decisive move above it could signal a broader breakout from the recent trading range.

    If we do end up seeing that breakout formation, we are still focusing on 11 cents. I told you guys this multiple times. The fact that as long as Doge can hold above 0.088, we are not looking for any sort of swing short opportunities.

    Pingu Charts

    The crypto trading expert also verifies the analysis of DOGE’s daily timeframe. The cryptocurrency continues trading above its EMAs on the daily chart, with buyers defending support.


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    Adrian Zmudzinski

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  • This token is up 600% in a week amid meme coin rally

    This token is up 600% in a week amid meme coin rally

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    The crypto market is seeing a new rally in memcoins. The CorgiAI (CORGIAI) token has grown 600% last week.

    CorgiAI is a web3 project that harnesses the limitless potential of artificial intelligence to transform the way crypto interacts and communicates.

    The general rise of the meme coin market also fueled interest in CORGIAI. Over the past week, the coin has gained 563%. Amid the excitement, the token’s market capitalization increased to $193.3m.

    CorgiAI price | Source: CoinMarketCap

    The announcement of the cryptocurrency exchange Crypto.com also strengthened CORGIAI’s position. The cryptocurrency platform has revealed a new promotion featuring a coin with a $5,000 prize pool. The 1,000 users with the highest CORGIAI net buys will win $5 of CORGIAI each.

    Contrary to the expectations of the cryptocurrency community that the hype around meme coins would fade over time, leading to a loss of income, it turned out that instead of fading away, meme coins are returning to the scene, but now with qualitatively new areas of their application. Along with CORGIAI, growth was recorded by Memecoin (MEME) and Pepe (PEPE).


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    Anna Kharton

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  • SafeMoon Executives Face DOJ Arrests And SEC Charges – SFM Plummets More Than 50%

    SafeMoon Executives Face DOJ Arrests And SEC Charges – SFM Plummets More Than 50%

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    The US Securities and Exchange Commission (SEC) recently announced charges against SafeMoon, its creator Kyle Nagy, the company’s CEO, John Karony, and CTO, Thomas Smith. 

    The SEC alleges that these individuals orchestrated a “massive fraudulent scheme” involving the unregistered sale of SafeMoon (SFM), a “crypto asset security” as defined by the SEC. 

    Per the complaint, instead of delivering the promised profits and taking the token “Safely to the Moon,” the defendants allegedly wiped out billions in market capitalization, misappropriated investor funds, and withdrew over $200 million in crypto assets for personal use.

    On this matter, David Hirsch, Chief of the SEC Enforcement Division’s Crypto Assets and Cyber Unit, emphasized the need for caution in the decentralized finance (DeFi).

    SEC Charges SafeMoon And Executives 

    According to the complaint, Kyle Nagy assured investors that funds in SafeMoon’s liquidity pool were safely locked and inaccessible to anyone, including the defendants. 

    However, according to the SEC’s investigations, large portions of the liquidity pool were never locked, and the defendants allegedly misappropriated millions of dollars, indulging in extravagant purchases such as McLaren cars, luxury homes, and lavish travel.

    The SEC’s complaint reveals that SFM’s price skyrocketed by over 55,000 percent before plummeting nearly 50 percent when the public discovered that the liquidity pool was not locked as claimed. 

    Notably, Karony and Smith allegedly used misappropriated assets to manipulate the market and prop up SafeMoon’s price through wash trading.

    The SEC’s complaint, filed in the US District Court for the Eastern District of New York, charges the defendants with violating registration and anti-fraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. 

    Indictment Unsealed Against Executives For Securities Fraud

    An indictment was also unsealed in federal court in Brooklyn, charging Braden John Karony, Kyle Nagy, and Thomas Smith with conspiracy to commit securities fraud, wire fraud, and money laundering conspiracy. Breon Peace, United States Attorney for the Eastern District of New York, announced the arrests and charges.

    United States Attorney Peace emphasized the commitment to pursuing fraudsters in the digital asset space, stating that their “ill-gotten gains” would not protect them from justice. 

    Ivan J. Arvelo, Special Agent-in-Charge of Homeland Security Investigations, New York, highlighted the “relentless pursuit” of individuals exploiting investors and the financial system for personal gain. 

    It is noteworthy that the charges in the indictment are allegations, and the defendants are presumed innocent until proven guilty.

    SFM Token Crashes To Lowest Trading Price Since Launch

    Following the recent disclosure of the news, SFM has experienced a significant crash, plummeting by over 52%. Currently, the token is trading at $0.00009142, marking its lowest trading price since its launch in 2022. This substantial decline of over 72% within the past year underscores the severity of the case.

    SFM’s crash in recent hours on the daily chart. Source: SFMUSDT on TradingView.com

    Furthermore, when examining other time frames, the token has seen declines of 49%, 34%, and 24% over the past seven, fourteen, and thirty days, respectively. These figures highlight the ongoing downward trend and emphasize the magnitude of the situation.

    Featured image from Shutterstock, chart from TradingView.com

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    Ronaldo Marquez

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  • Crypto Halloween Nightmare: MEME, MEMEPAD, And TITANX Tokens Collapse, Traders Lose 100%

    Crypto Halloween Nightmare: MEME, MEMEPAD, And TITANX Tokens Collapse, Traders Lose 100%

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    In a chilling development on Halloween Day, the crypto community was hit with disturbing news as PeckShield, a renowned blockchain security company, revealed a series of rug pulls over the past few hours.

    Rug pulls, a form of cryptocurrency scam, involve sudden and deliberate value drops in specific tokens, accompanied by the perpetrators swapping the native tokens for Ethereum (ETH). The meme coins affected by the rug pulls were identified as MEME, MEMEPAD, and TITANX.

    Multiple Rug Pulls Shake Crypto Market On Halloween

    According to PeckShield’s X (formerly Twitter) post, the MEME token on the Ethereum blockchain experienced a jaw-dropping 100% drop in value. The address 0xBd72…5871 was responsible for swapping a staggering 4,854,740,126,240,000 MEME tokens for approximately 43.68 ETH. 

    It is important to note that the rug pull token shared the same name as the legitimate MEME token, adding to the confusion.

    Similarly, the MEMEPAD token on Ethereum suffered an identical 100% value drop. The address 0xBd72…5871 conducted a swap of 4,854,740,126,240,000 MEMEPAD tokens for around 44.84 ETH. 

    MEMEPAD’s rug pull. Source: MEMEPAD on TradingView.com

    Once again, the fraudulent crypto rug pull shared the same name as the genuine MEMEPAD token, compounding the deceitful nature of the scam.

    Additionally, the TITANX token launched two days ago, October 28, on Ethereum experienced a staggering 100% value decline. 

    The address 0xBd72…5871 executed a swap of 4,854,740,126,240,000 TITANX tokens for approximately 46 ETH. Mirroring the previous instances, the rug pull token masqueraded under the same name as the legitimate TITANX crypto token.

    Fantom Foundation Funds Vanish

    In alarming events, the Fantom (FTM) Foundation finds itself entangled in a harrowing tale of fund drains and swift token swaps. PeckShield has reported two significant incidents involving the Fantom Foundation’s finances, leaving the organization with substantial losses.

    The first incident occurred on October 17, 2023, when wallets associated with the Fantom Foundation were drained of approximately $7 million worth of cryptocurrencies, equivalent to around 4,500 ETH.

    Additionally, on October 26, the Fantom Foundation faced another devastating event. An unidentified entity, the “Fantom Foundation Drainer,” executed a bold move by swapping a staggering 8,087,377.97 DAI for 4,560.52 ETH. 

    The gravity of the situation intensified when the Fantom Foundation Drainer swiftly executed another swap on October 30, converting the 4,560.52 ETH back into approximately 8.3 million DAI within a mere 30 minutes. 

    The Fantom Foundation is now faced with the daunting task of investigating the breaches, identifying the culprits, and fortifying its security infrastructure to prevent future incidents. 

    Crypto
    FTM’s token uptrend over the past 30 days on the daily chart. Source: FTMUSDT on TradingView.com

    Despite recent developments, the native token of the Fantom protocol, FTM, is trading at $0.2388, reflecting a 1% increase in the past 24 hours. 

    Notably, the token has experienced a substantial surge across various time frames. Presently, it has maintained an upward trend, with gains of over 6% and 30% in the seven-day and fourteen-day periods, respectively. 

    Over the year-to-date period, the token has recorded a 5% increase. These figures indicate the token’s positive performance and growth trajectory.

    Featured image from Shutterstock, chart from TradingView.com 

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    Ronaldo Marquez

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  • BTC ETF speculation sparks meme coin market surge

    BTC ETF speculation sparks meme coin market surge

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    This past week saw a diverse set of tokens participating in an upswing, and the meme coin Pepe (PEPE) was the star of the show.

    In the wake of the recent crypto market turbulence, spurred by speculation about Bitcoin spot ETF acceptance, PEPE has made waves with its announcement of burning more than $5.5 million worth of tokens. 

    This move led to a significant 30% price hike in a single day, propelling PEPE to its peak in two months. The growth, set against the backdrop of potential Bitcoin spot ETF approval, marks a significant increase in PEPE’s value and indicates a potential rebound in the altcoin sector.

    According to crypto market monitor CoinGecko, over the previous week, the price of PEPE surged by a remarkable 56.5%. However, its current price of $0.00000115 signifies a 3.5% decrease as of now.

    PEPE 7-day price chart | Source: CoinGecko

    The triumph of PEPE mirrors the burgeoning influence of meme-based cryptocurrencies, which largely thrive on internet communities and social media interaction. 

    The buzz around these coins is fueled by several factors like trending social movements, speculative trades, and the lure of quick, albeit uncertain, returns on investment.

    The past week has reignited the excitement in the crypto market, with a diverse mix of coins leading the way for gains. Meme coins like Floki Inu (FLOKI) and Pepe capitalized on hype and speculation, with the onset of crypto spring attracting retail investors back to the market. 

    Meanwhile, platforms like the Mina protocol (MINA) and Injective (INJ), and THORChain scored gains due to project advancements and adoption milestones, and gaming tokens like Gala continued to surge as blockchain-based games continue to draw attention.

    Floki Inu saw an 85% increase. As a whole, the top 10 crypto gainers of the week all experienced double-figure returns, outdoing the larger market.

    MINA, one of the few larger market cap cryptos, enjoyed a 60% jump to $0.61986, bolstered by an uptick in development activity and increased adoption.

    Injective, a decentralized exchange protocol created for decentralized finance applications, experienced a 56.02% rally over the past week, reaching $13.355. Chainlink (LINK), the oracle network, saw a 44.66% increase this week, hitting an impressive $11.04.

    It’s worth noting that the extreme price volatility and speculative nature of meme coins can lead to unforeseen price swings and potential risk for investors.


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    Julius Mutunkei

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  • New SHIB-Based Token On The Way? Update

    New SHIB-Based Token On The Way? Update

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    The Shiba Inu ecosystem is one of the fastest growing communities in the crypto industry. The meme cryptocurrency has come a long way in a short time with lots of tokens and updates to its ecosystem, but it certainly still has a long way to go. In a recent not-so-surprise announcement, a core member of the Shiba Inu team hinted that a new stablecoin called Shi may be in the works. If the rumors are true, this could be huge news for SHIB holders and open up a whole new world of possibilities within the Shiba Inu ecosystem.

    New SHIB-Based Token On The Way

    Taking to a post on social media platform X, Vet Kusama, a member of the Shiba Inu team, talked about the purpose of a stablecoin earlier highlighted by SHIB founder Ryoshi. Shi would be a stablecoin, meaning a cryptocurrency pegged 1:1 to a fiat currency like the U.S. dollar to keep its value stable.

    As demonstrated by BUSD on the BSC chain, the concept of a stablecoin is to give investors a chance to participate in the cryptocurrency sector while experiencing lower levels of volatility. Vet Kusama draws a parallel to BUSD, noting that the workings of the SHI on Shibarium would be likened to BUSD on the BSC chain. 

    There are no doubts about what a stablecoin would do for Shiba Inu, as it would give the overall ecosystem more utility and, according to Kusama, a ‘trading volume growth.’ 

    We still don’t know the specifics of how Shi will work, as no official information has been released. However, the team member did mention that there would be no pre-purchases or airdrops. 

    SHIB market cap currently at $4.125 Billion chart: TradingView.com

    What’s Next For Shiba Inu?

    The Shiba Inu ecosystem is already home to SHIB, BONE, and LEASH tokens that users can stake, swap, or deposit into liquidity pools on ShibaSwap. These tokens are all doing relatively well with many investors and whale accumulation occasionally. However, a SHIB-based stablecoin could attract new investors to the Shiba Inu ecosystem, especially those who don’t want to be exposed to crypto volatility. 

    Shi may also make it easier for Shiba Inu holders to buy and sell goods or services using their crypto, as demonstrated by the fish vendor example given by Ryoshi in a Medium article.

    On the other hand, crypto whale transaction tracker Whale Alerts has revealed a massive transaction of SHIB tokens between two unknown wallets. According to the tracker, 4.5 trillion SHIB worth $32.1 million was recently transferred from an unknown wallet to another unknown wallet.

    Featured image from Capital.com

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    Scott Matherson

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  • Sensei Inu presale sparks hype thanks to gaming, rewards

    Sensei Inu presale sparks hype thanks to gaming, rewards

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    Sensei Inu’s presale is gaining attention for its unique approach. The project is presenting an opportunity that sets it apart from other meme coins and presales.

    Sensei Inu vs. the competition

    Sensei Inu’s presale has come into focus and is gaining attention, prompting a closer examination by market participants.

    The project seeks to bridge the wealth gap through intellect and talent, offering something beyond digital collectibles. The attention Sensei Inu’s presale is receiving can be attributed to several key factors.

    Firstly, the introduction of “Proof of Value” represents an attempt to democratize wealth generation by rewarding users based on their crypto knowledge, fostering inclusivity. Moreover, the presale distinguishes itself by promoting active participation through Crypto Trivia games, going beyond mere token purchases. 

    The project’s tokenomics model, featuring regular token burning, is designed to curtail supply and potentially enhance the coin’s intrinsic value.

    Additionally, the implementation of a Referral System further bolsters the community by incentivizing users to introduce friends to trivia game sessions. The Governance DAO empowers token holders to actively influence the project’s direction, participating in voting and decisions, thereby promoting transparency and inclusiveness within the community.

    Sensei Inu and its target audience

    Sensei Inu aims to compete with Shiba Inu (SHIB) for the top meme coin position.

    Shiba Inu has been making its way back to a significant resistance level at $0.000007. After experiencing a substantial market correction earlier this week, SHIB’s fortunes took a turn, as highlighted by a notable transaction discovered by Arkham Intelligence on Oct. 19.

    The fledgling meme coin ecosystem

    In July, a survey provided valuable insights into the world of meme coin investors. 

    Among young American investors aged 18 to 40, 40% ventured into cryptocurrencies, primarily for viral meme coins. The survey, comprising 2,531 U.S. citizens, revealed that most investors sought amusement and social connections rather than long-term profits.

    For 65% of respondents, humor and jokes played a vital role in simplifying complex crypto concepts, acting as a gateway to understanding decentralized networks and other intricate topics.


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    Ogwu Osaemezu Emmanuel

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