Tag: meme coins

We Asked ChatGPT if Solana Meme Coin Dogwifhat (WIF) Price Will Reach $1 in 2024
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TL;DR
- Dogwifhat (WIF) has rapidly increased in value in the past several weeks. Its potential to reach $1 depends on numerous factors like favorable market conditions.
- Short-term predictions suggest a 2024 price range of $0.33 to $0.76, while long-term expectations see it possibly exceeding $2.50 by 2030.
Is There a Chance?

Despite emerging less than two months ago, the Solana-based meme coin dogwifhat (WIF) managed to get a significant amount of attention. Its price spiked by over 90% in the past month and currently hovers around $0.30 (per CoinGecko’s data). We decided to ask ChatGPT whether the upswing could continue throughout 2024 and if WIF can hit the $1 milestone.

The AI-powered chatbot estimated there is such a chance, but the probable rally relies on multiple factors, including market sentiment and investor behavior.

Meme coins like WIF often follow the price trajectory of leading cryptocurrencies like Bitcoin (BTC). According to many experts, the latter is poised for an uptrend in the following months due to the upcoming halving, possible pivot from the Federal Reserve on its anti-inflationary policies, and other potentially bullish events.

ChatGPT also claimed that WIF’s value could head north should its community (investors, developers, and supporters) grow. This might increase the asset’s popularity and attract new potential buyers.

Some entities, including the aggregate platform CoinCodex and the prediction website DigitalCoinPrice, have already laid out WIF forecasts. The former envisioned that the meme coin would trade within the range of $0.33 – $0.48 throughout the year, whereas the latter set a maximum level of $0.76.

PricePrediction.net and Bitnation expect dogwifhat’s value to surpass $2.50 by 2030, which indicates a more gradual increase over the long term rather than an explosion toward the $1 mark in the upcoming months.

WIF’s Recent Progress

WIF took center stage in mid-December when its price was exploding on a daily scale, coinciding with the impressive rally of Solana (SOL). Despite its brief plunge after Christmas, the meme coin started pumping again at the beginning of January.

Its uptrend could be attributed to the actions of numerous major cryptocurrency exchanges, which embraced the asset. BitMEX was among the first to list the perpetual swap contract WIF/USDT.

Shortly after, Binance did the same, whereas Bitget placed the token into its Innovation and Meme Zone. Assets in that section are evaluated for a 60-day period and could be officially listed if meeting certain criteria.

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Dimitar Dzhondzhorov

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January 28, 2024
Here's Why Solana Meme Coin WIF Exploded by 30% Today
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TL;DR
- Dogwifhat (WIF), a Solana-based meme coin, has experienced a significant price increase following support from a major crypto exchange.
- Similar digital assets have also seen notable market movements recently.
The recently-emerged Solana-based meme coin – dogwifhat (WIF) – is among the best-performing cryptocurrencies today (January 24), with its price rallying by over 30% and exceeding the $0.30 mark (per CoinGecko’s data).

WIF Price, Source: CoinGecko

The reason behind the uptrend is likely in the fact that Bitget added support to the asset, placing it into its Innovation and Meme Zone.

The company puts trending tokens in that section for a 60-day valuation period. Meeting certain criteria might lead to their official listing on the platform.

Other crypto exchanges that have recently embraced dogwifhat are Binance, Bybit, and BitMEX.

Another factor possibly contributing to WIF’s latest rise could be the price resurgence of SOL, which is up 8% on a daily scale.

Dogwifhat is not the only Solana meme coin to have made waves in the past few months. As CryptoPotato previously reported, Bonk Inu (BONK) received support from leading exchanges like Binance and Coinbase, and its market capitalization surpassed the $2 billion milestone in mid-December.

However, the figure rapidly decreased in the following weeks, sitting at its current level of approximately $670 million.

Myro (MYRO) has also been in the spotlight, with its value skyrocketing by almost 1,000% in the past 30 days and hitting an all-time high of nearly $0.25 last week. As of the moment of writing these lines, it trades at around $0.21.

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Dimitar Dzhondzhorov

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January 24, 2024
We Asked ChatGPT if Solana Meme Coin Dogwifhat (WIF) Can Flip Shiba Inu (SHIB) in 2024
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TL;DR
- Dogwifhat (WIF), a Solana-based meme coin, saw a substantial price increase recently.
- A potential surpassing of Shiba Inu’s market cap hinges on factors like community support, use cases, market trends, and more.
What are the Chances?

The Solana-based meme coin – dogwifhat (WIF) – has been among the best-performing cryptocurrencies in the past two weeks, with its price exploding by triple digits (per Coingecko’s data) and market cap briefly exceeding $450 million.

WIF Price, Source: CoinGecko

We decided to ask ChatGPT whether the uptrend could continue throughout 2024 and whether flippening Shiba Inu (SHIB) is possible.

The AI-powered chatbot claimed this might happen should WIF significantly strengthen the size and activity of its supporter base (including developers and investors). According to a recent analysis, Shiba Inu (SHIB) has the most devoted community in the meme coin realm, whereas Dogecoin (DOGE) is second.

Use cases and utility were also mentioned as major elements. “If dogwifhat offers more practical or innovative solutions than Shiba Inu, it could potentially gain an edge,” it estimated.

Favorable market trends, appropriate regulatory changes, and strategic partnerships could also boost the market capitalization of WIF.

Last but not least, ChatGPT touched upon investors’ behavior, suggesting that a growing buzz surrounding the Solana meme coin might trigger a substantial flow of capital into its ecosystem.

Shiba Inu’s current market cap is almost $5.5 billion, meaning WIF should rely on multiple factors for an eventual flippening.

WIF’s Recent Progress

The Solana meme coin, launched in mid-December, rallied exponentially last month, reaching $0.32 a few days before Christmas. However, its price experienced enhanced volatility shortly after, dropping below the $0.10 mark at the beginning of January.

The hype surrounding the coin returned earlier this week, with WIF’s value hitting an all-time high of over $0.45. Its peak could be attributed to major listings on leading cryptocurrency exchanges. As CryptoPotato reported, Binance and BitMEX launched WIF/USDT perpetual contracts, while Bybit and Kucoin also embraced the token.

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Dimitar Dzhondzhorov

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January 20, 2024
We Asked ChatGPT if 2024 Will be Successful for Meme Coin Investors
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TL;DR
- Meme coins are in the spotlight due to market changes, and their success in 2024 is uncertain and influenced by various factors.
- Positive trends in the broader crypto market, including Bitcoin-related developments and social media hype, could impact meme coins’ performance.
- Newer meme coins like Bonk Inu and dogwifhat have seen growth, with their future potentially linked to the overall performance of Solana.
Will Meme Coins Flourish This Year?

Meme coins have been making the headlines as of late due to numerous developments or enhanced price volatility. We decided to ask the most popular AI-based chatbot whether or not they will continue to be successful in 2024.

According to ChatGPT, the answer relies on certain essential factors and involves a high degree of uncertainty. It estimated that a potential bull run of the entire cryptocurrency market would positively impact meme coins, which tend to follow the overall trends. On the other hand, a bearish scenario might have the opposite effect.

ChatGPT added that social media interaction could also play a role in meme coins’ further rally as they thrive on hype and investor sentiment. A favorable regulatory environment, increased adoption, and technological developments were also mentioned.

Last but not least, the chatbot pointed out the influence of key figures. There were multiple examples when the value of a certain meme coin was pumped following comments from famous people. One example is Elon Musk and his frequent interaction with his favorite digital asset – Dogecoin.

The world’s wealthiest person has praised DOGE’s merits in the past, which has resulted in a substantial price appreciation for the token.

Meanwhile, those dealing with meme coins or investors who contemplate doing so should be aware of the risks and conduct proper due diligence before entering the ecosystem. More information can be found in the video below:

Evaluating the Chances of BONK and WIF

Two of the recent sensations in the cryptocurrency sector are undoubtedly the Solana meme coins Bonk Inu (BONK) and dogwifhat (WIF). The former made waves in December, reaching an all-time high price and surpassing the $1.5 billion mark in terms of market capitalization. This major milestone came amid listings from leading cryptocurrency exchanges such as Binance and Coinbase.

WIF also exploded last month, hitting an ATH of over $0.30 a few days before Christmas. It also caught the eye of well-known individuals such as BitMEX’s co-founder Arthur Hayes, who jokingly posted a photo on X wearing a hat (remarking with the asset’s name).

SOL recorded a whopping 1,100% price increase throughout 2023 and kept performing quite well in the new year, trading above the $100 mark. It also climbed the crypto ladder, becoming the fifth-largest asset by market capitalization.

If SOL’s positive performance continues, the meme coins on the network might have better chances of increasing in price.

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Dimitar Dzhondzhorov

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January 14, 2024
Here's Why SEI Price Hit an ATH Today
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TL;DR
- SEI Token’s New High: SEI, the native token of Sei Network, reached a record price, boosting its market ranking.
- SEIYAN’s Contribution: The introduction and rapid value increase of SEIYAN, a related memecoin, may have influenced SEI’s performance.
SEI Reaches a New Peak

SEI – the native token of the Ethereum Virtual Machine (EVM) blockchain Sei Network – climbed today (January 2) to an all-time high price of almost $0.80 (per CoinGecko’s data). Its market capitalization exceeded $1.8 billion, positioning the digital asset as the 56th largest.

SEI Price, Source: CoinGecko

Besides its price rally, the total value locked (TVL) on Sei has also headed north. As of the moment, it stands at $5.6 million (according to DefiLlama), a 3,500% surge compared to the stats from August.

One factor that might have played a role in the uptrend is the rise of SEIYAN. Described as “the main brand coin of Sei Network,” its price tapped an ATH of $0.07 on January 2. SEIYAN saw the light of day at the end of December 2023, experiencing a 380% value increase in the past week.

The hype surrounding memecoins is not specific to SEI. During December, Solana saw tremendous trading volumes and activity, propelled mostly by the emergence of community-oriented cryptocurrencies like ANALOS and dogwifhat (WIF). Other networks had their own alternatives, like SNEK on Cardano and COQ on Avalanche.

However, keep in mind that memecoins are highly volatile, with their value oftentimes fluctuating tremendously within the same day. The largest tokens of that type remain Elon Musk’s favorite – Dogecoin (DOGE) – and its rival – Shiba Inu (SHIB). For more information on memecoins, their specifics, and purposes, feel free to watch our dedicated video below:

The Market’s Bullish Mode

SEI’s valuation might have also benefited from the overall green wave in the cryptocurrency market. As CryptoPotato recently reported, Bitcoin (BTC) surpassed the $45K mark for the first time since April 2022, possibly prompted by the expected approval of a spot BTC ETF in the US.

Other assets, including Solana (SOL), Ethereum (ETH), Avalanche (AVAX), NEAR Protocol (NEAR), and Polkadot (DOT), have also recorded notable gains.

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Dimitar Dzhondzhorov

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January 2, 2024
$10 Million Worth Of Dogecoin Exit Robinhood
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On-chain data has revealed more than 112 million Dogecoin tokens recently made their way out of Robinhood into an unknown wallet. DOGE transfers into crypto exchanges have seen an uptick in the past few days, as the crypto continues to struggle to keep up pace compared to other top cryptocurrencies. However, according to Whale Alerts, 112 million DOGE which was valued at roughly $10.4 million at the time of the transfer, was sent from Robinhood into a private wallet.

Massive Dogecoin Transfer Out Of Robinhood

According to Whale Alerts, the 112 million DOGE tokens were transferred from the Robinhood-linked address “DHQsfy” into the private address “DEndnp.” The tokens were then transferred to another private wallet address “DF8jRK” four hours later.

A further look through on-chain transaction data shows earlier large DOGE transactions between the Robinhood address and private wallet “DEndnp.” On Dec 21, 17.5 million DOGE tokens made their way from Robinhood into “DEndnp.”. At the time of the transaction, this tranche of coins was worth approximately $1.6 million. Again, the tokens were then transferred to “DF8jRK” four hours later. At the time of writing, “DF8jRK” holds 111 million DOGE tokens, and the pattern of transfers points to the transactions being made by the same entity.

On the other hand, various social media posts from Whale Alerts have shown large DOGE transfers from private addresses into Robinhood over the week. On December 18, a single transaction of over $7 million worth of DOGE was sent into Robinhood.
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DOGE market cap currently at $13.189 billion. Chart: TradingView.com
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Crypto whales, or investors holding very large amounts, are always worth keeping an eye on. When whales make big moves, it often means something. They also tend to show general sentiment among whales. However, in this case, $10 million worth of Dogecoin exiting Robinhood could signal that the whale is opting to keep the tokens in self-custody in anticipation of a long-awaited DOGE price surge.

Future Outlook For Dogecoin

Dogecoin is currently trading at $0.09312, over a newly found support at the $0.092 level. DOGE went on a run earlier in the month that saw its price reach a yearly high of $0.0151 on December 11. This growth has since slowed down, and DOGE is now down by %0.6 in a 7-day timeframe.

DOGE whales have increased their holdings by a substantial amount in the past month. According to IntoTheBlock’s Balance By Holdings metric, the balance of addresses holding between $100,000 to $1 million, $1 million to $10 million, and more than $10 million worth of DOGE has increased by 23.28%, 16.41%, and 27% in the past 30 days. Collectively, these large addresses have increased their holdings by $1.32 billion since December 1.

Dogecoin is currently trading 87% below its all-time high of $0.74. As a meme token, DOGE’s value is mostly tied to hype among traders, particularly retail investors. If the current bullish momentum among DOGE whales rolls over into retail investors, we could see the cryptocurrency’s strong bullish run in 2024. The first step in its journey to a new high is to find a strong footing over the $0.1 price level.

Featured images from Shutterstock

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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Scott Matherson

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December 23, 2023
BONK Soars 100% Daily to a New ATH After Binance Listing, Market Cap Nears $2 Billion
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TL;DR
- Surging Value: Bonk Inu (BONK), a Solana memecoin, has seen a dramatic price increase, with a 100% rise in 24 hours and over 1,000% in the last 30 days.
- Binance Listing and Risk Warning: Binance listed BONK but cautioned users about its high volatility and the need for careful research before trading.
- Key Success Factors: BONK’s popularity is possibly driven by the memecoin trend, investor FOMO, and its association with the high-performing Solana network.
BONK Seems to Have no Limit

The recent sensation in the cryptocurrency market – Bonk Inu (BONK) – keeps making the headlines, with its price reaching new peaks almost daily in the past few weeks. The Solana memecoin exploded by another 100% in the last 24 hours, while its surge on a 30-day scale surpassed 1,000%. Moreover, it inches closer to the astonishing market capitalization of $2 billion.

BONK Price, Source: CoinGecko

One factor that might stand behind the latest rally is the interaction coming from Binance. The world’s leading cryptocurrency exchange by trading volume announced it will list the asset on its platform on December 15, opening the following spot trading pairs: BONK/USDT, BONK/FDUSD, and BONK/TRY.

Withdrawals will be available from December 16, while the BONK listing fee will be set at 0 BNB. In addition, Binance plans to add the memecoin as a borrowable asset on its Isolated Margin program on December 17.

Despite listing BONK on its platform, the exchange warned users that the token “poses a higher than normal risk, and as such will likely be subject to high price volatility.”

“Please ensure that you exercise sufficient risk management, have done your own research in regards to BONK’s fundamentals, and fully understand the project before opting to trade the token,” it added.

It is worth mentioning that Binance is not the first crypto exchange to announce support for Bonk Inu. Prior to that, Coinbase put the asset on its “roadmap” program and then listed it on its platform.

What Else Stands Behind BONK’s Price Explosion?

Another factor playing a role in the token’s impressive price performance could be the ongoing memecoin frenzy. Leading assets of that type, including Dogecoin (DOGE) and Shiba Inu (SHIB), are well in the green on a monthly basis, albeit charting not as substantial gains as BONK.

The FOMO (“Fear of Missing Out”) effect should also be mentioned. It is possible that many investors have joined BONK’s ecosystem after simply observing its price jump and not by conducting proper due diligence.

Last but not least, the memecoin’s success could be attributed to its connection with Solana. The latter has been among the top performers in the market this year, experiencing a price increase of 650% since January 1.

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Dimitar Dzhondzhorov

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December 14, 2023
BONK Meme Coin Update: Coinbase Listing Incoming?
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TL;DR
- Coinbase Supports Bonk Inu (BONK): Coinbase, a major cryptocurrency exchange, has added Bonk Inu (BONK), a rapidly popular digital asset, to its roadmap, indicating a potential official listing soon.
- Price Fluctuations Post Announcement: Following Coinbase’s announcement, BONK’s price initially surged by over 15%, but later fell by nearly 20%, mirroring the broader cryptocurrency market correction.
- Bonk Inu’s Market Performance: Despite recent fluctuations, Bonk Inu remains one of the top-performing memecoins, with its value increasing by about 350% in the last 30 days, and its market capitalization exceeding $630 million, ranking it third among memecoins after Dogecoin and Shiba Inu.
One of the largest cryptocurrency exchanges by trading volume – Coinbase – has decided to add support to the digital asset that has recently turned into a sensation – Bonk Inu (BONK).

The marketplace put the token on its “roadmap” on December 12. Digital currencies placed in that section mean Coinbase is just one step away from officially listing them.

The exchange has previously warned users to refrain from dealing with such experimental assets before an official announcement.

BONK’s price briefly spiked by over 15% shortly after Coinbase’s interaction. However, in the following hours, it plunged by almost 20% in resonance with the overall correction reigning in the cryptocurrency market.

Still, the Solana memecoin is far from erasing all gains registered in the past few months. It has been among the best-performing assets of its kind, with its valuation exploding by nearly 350% in the last 30 days.

BONK Price, Source: CoinGecko

Its market capitalization currently stands above $630 million, making it the third-biggest memecoin after Dogecoin (DOGE) and Shiba Inu (SHIB).

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Dimitar Dzhondzhorov

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December 13, 2023
Dogecoin Chart Described as ‘Beautiful’ By Crypto Analyst
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Dogecoin (DOGE) enthusiasts and investors are on the edge of their seats as prominent crypto analysts forecast an imminent breakout for the popular meme coin. Pseudonymous analyst Kaleo’s recent remarks on the promising trajectory of the meme coin have ignited a sense of anticipation within the crypto community.

Kaleo’s assertion that Dogecoin – calling its USD price chart “beautiful” – could soon experience a surge akin to other thriving altcoins in the market has brought renewed attention to the coin’s potential for substantial growth.

Kaleo’s optimism stems from the encouraging trends witnessed across the altcoin market, indicating a potential squeeze out of the current trading range for Dogecoin.

With a confident outlook on the USD chart, Kaleo emphasizes the possibility of a consolidation phase preceding a significant upward surge for the popular cryptocurrency. This projection has prompted fervent discussions and debates among investors, with many eagerly awaiting the speculated breakthrough.

$DOGE

Honestly though – look at how beautiful the USD chart is.

The way alts are starting to pop off, I find it hard to believe Dogecoin doesn’t see a squeeze out of its current range.

Long it with me here: https://t.co/32dHnZIFxS pic.twitter.com/cEvgKIQyJt

— K A L E O (@CryptoKaleo) November 6, 2023

DOGE Draws Attention

Adding to the mounting anticipation, esteemed crypto analyst Ali Martinez has also voiced support for a bullish sentiment surrounding Dogecoin’s future. Martinez, in a recent tweet on the social media platform X, emphasized the critical juncture that Dogecoin finds itself in, suggesting that the current tight zone holds significant implications for the coin’s impending trajectory.

#Dogecoin is navigating a tight zone, sandwiched by two crucial supply walls.

📉 Support Wall: Spanning $0.072-$0.073, with 200K addresses holding 28.6B $DOGE.
📈 Resistance Wall: Ranging from $0.074-$0.076, where 124K addresses hold 26.95B #DOGE.

Note that support outstrips… pic.twitter.com/O5FRIJ1SIl

— Ali (@ali_charts) November 8, 2023

Highlighting the presence of vital supply walls encompassing DOGE’s current position, Martinez underlines the pivotal roles of a support wall and a resistance wall in shaping the coin’s immediate market behavior.

As investors closely monitor the developments, the current price of Dogecoin stands at $0.075 according to CoinGecko. Notably, the cryptocurrency has experienced a moderate 1.3% increase in the past 24 hours, further fueling the optimism surrounding its potential breakout.
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DOGE market cap currently at $10.7 billion. Chart: TradingView.com
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Over the span of the last seven days, Dogecoin has witnessed a notable rally of 8.4%, indicating a gradual but promising upward trend that has caught the attention of market participants and analysts alike.

Factors Propelling Dogecoin’s Potential Surge

Despite recent market fluctuations and the general uncertainty surrounding the cryptocurrency landscape, Dogecoin has managed to solidify its position as a prominent player in the digital currency market. The upcoming potential breakout for DOGE is underpinned by several key factors that have instilled confidence in the minds of analysts and investors alike.

The evolving trend of altcoins making significant strides in the market has set a favorable backdrop for Dogecoin’s anticipated surge. As other digital assets continue to garner attention and register substantial gains, the overall market sentiment appears conducive to DOGE’s upward movement.

This growing momentum within the altcoin sector has created an optimistic atmosphere, with analysts anticipating that DOGE will capitalize on this trend to propel its own growth trajectory.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from Kevin_Y/Pixabay
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Christian Encila

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November 9, 2023
Shiba Inu Burn Rate Explodes 1,300%, What Does it Mean for SHIB’s Price?
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TL;DR
- Shiba Inu experienced a significant token burn, with over 100 million SHIB burned in the last 24 hours, marking a 1,300% increase from the previous day’s burn rate.
- This program is part of the strategy to reduce SHIB’s supply, with already 41% of the initial supply burned, in efforts to increase the coin’s value over time.
- Despite the burn, SHIB’s price fell by 4% daily and 3% weekly, in line with the broader crypto market downturn, although the launch of the Shibarium layer-2 solution may provide future price support.
The Latest Burn Data

The popular memecoin – Shiba Inu – witnessed over 100 million tokens burned over the past 24 hours. The figure represents an approximate increase of 1,300% compared to the burning rate the day before.

The project has adopted such a practice to reduce the overall supply of SHIB and potentially make the asset more valuable in time. According to Shibburn, over 41% of the initial supply has already been sent to an address that nobody could access.

Despite the skyrocketing burn figure today, SHIB has been on a downfall in resonance with the entire cryptocurrency market. It plunged around 4% in the last 24 hours (per CoinGecko’s data) and 3% on a weekly basis.

SHIB Price, Source: CoinGecko

Shiba Inu’s Burn in October

As CryptoPotato recently reported, the memecoin saw almost 1.5 million tokens destroyed throughout the previous month. The record day was October 28, when more than 250 million SHIB were removed from circulation.

The successful execution of the burning program has been touted as a bullish element that could trigger a price rally for the coin. Another factor contributing to a future rise might be the further advancement of the layer-2 scaling solution Shibarium.

The network, which went live at the end of August, aims to elevate Shiba Inu above its rivals in the memecoin realm by improving speed and lowering transaction costs. Those curious to find out more on the matter could take a look at our video below:

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Dimitar Dzhondzhorov

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November 3, 2023
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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November 1, 2023
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.

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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October 30, 2023
Shiba Inu Reverses Downtrend – What’s Next For Investors?
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Shiba Inu (SHIB) has sustained an impressive bullish streak over the past week, marking a significant upward trajectory in its value. With seven out of the last eight days showing positive growth, the meme coin has not only managed to reclaim a critical low of $0.0000076 it registered in December last year, but has also encountered several notable barriers along its upward climb.

In its journey through September, SHIB faced resistance from the established resistance zone and a daily bearish order block situated above $0.00000755.

However, the October rally saw a significant shift, as the hurdle transformed into support, propelling the coin beyond the December low, with the current SHIB price according to CoinGecko standing at $0.0000078, indicating a 2.5% dip over the last 24 hours but still showcasing a substantial 14% surge over the past seven days.

Price Analysis Reveals Liquidation Levels And Potential Pullbacks

The recent price analysis report has highlighted substantial liquidation levels within the cryptocurrency market, drawing attention to a key threshold at $0.0000077 as the upper boundary for liquidations. Additionally, the analysis revealed that medium liquidation levels are concentrated within the range of $0.0000078 to $0.0000079.

These findings indicate that traders and investors should closely monitor these price levels, as they serve as crucial points of interest, potentially signifying significant shifts in market sentiment and trading activity.

The data suggests that these specific price points are currently important reference points in assessing the cryptocurrency’s price dynamics and potential market reactions.

This information hints at the possibility of an extended pullback, potentially leading to a liquidity hunt that could drive SHIB towards the $0.0000077 mark.
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Source: Hyblock
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The medium liquidation level at $0.0000083 is a significant chart obstacle for SHIB, potentially posing a formidable challenge to any further price increases. It has historically acted as a strong resistance point, and breaking through it could be a key factor in SHIB’s future price performance.

The bullish momentum of Bitcoin has the potential to be a crucial factor in helping SHIB overcome its current price obstacle, especially if Bitcoin surpasses the $35,000 mark. Bitcoin’s significant influence on the broader cryptocurrency market means that a strong Bitcoin rally could stimulate greater interest and investment in SHIB, possibly enabling it to exceed the $0.0000083 level. This highlights the interdependence of various cryptocurrencies and the impact of Bitcoin’s performance on its counterparts.
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SHIB seven-day price performance. Source: Coingecko
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SHIB’s Growing Investor Interest

Interestingly, Shiba Inu has witnessed a surge in the total number of addresses, currently reaching a new high of 3.63 million, as per data provided by IntoTheBlock.
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SHIB reached a market cap $4.626 billion today. Chart: TradingView.com
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This substantial increase in the number of addresses indicates a growing interest in SHIB among investors and traders. Furthermore, IntoTheBlock’s data also highlights an uptick in Shiba Inu profitability, indicating that the positive price action has contributed to a favorable investment landscape for the meme coin.

Shiba Inu’s recent price movements suggest a resilient and increasingly promising outlook, despite the challenges posed by key resistance levels and potential pullbacks.

As Shiba Inu reverses its December downtrend, investors are eagerly watching for signs of a potential upward trend. The cryptocurrency market’s resilience and the enthusiasm of Shiba Inu’s community underline the possibility of brighter days ahead.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from The Currency Analytics
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Christian Encila

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October 26, 2023