Author: Benjamin Lee
A popular crypto analyst says one technical signal suggests that top meme token Dogecoin (DOGE) could be primed for a bounce. Ali Martinez tells his 104,600 followers on the social media platform X that the Tom DeMark (TD) Sequential Indicator presented a bullish signal for DOGE. “The TD Sequential presents a buy signal on the Dogecoin DOGE four-hour chart, anticipating a price rebound!” Source: Ali Martinez/X Traders use the TD Sequential Indicator to predict potential trend reversals for tokens based on the closing prices of their 13 previous bars or candles. Martinez also notes that Dogecoin whales bought more than…
Analytics firm Glassnode says Solana’s (SOL) momentum on the monthly time frame is waning in comparison to Bitcoin (BTC) and Ethereum (ETH). On the social media platform X, Glassnode examines the Realized Cap metric, which records the price at which each coin was last moved and aims to gauge how many holders are in profit or at a loss. The firm points out the monthly percent change in realized cap for each of the three assets. “This metric acts as an indicator of the rate and direction of capital inflows or outflows for these assets. During the recent market downtrend,…
The Ethereum (ETH)-based virtual reality platform Decentraland (MANA) continues to clock more development activity than any other non-fungible token (NFT) project, according to the crypto analytics firm Santiment. Santiment notes on the social media platform X that Decentraland registered 116.27 notable GitHub events in the past 30 days. Decentraland also led the rankings in November, October, and September. Flow (FLOW), a layer-1 permissionless blockchain, ranked second with 103.87 events, while the NFT layer-2 scaling solution Immutable X (IMX) ranked a distant third with 31.43. Source: Santiment Santiment notes that it does not count routine updates and utilizes a “better methodology”…
A crypto exchange token is defying this week’s marketwide downtrend, skyrocketing by nearly 30%. The Bitget Token (BGB) is trading at $7.37 at time of writing and is up nearly 28% in the past 24 hours and more than 70% in the past week. BGB’s gains partially materialized amid news that Bitget plans to merge the token with its other native asset, the Bitget Wallet Token (BWB). BWB, the 638th-ranked crypto asset by market cap, is down more than 4% in the past day but up nearly 45% in the past week. Bitget’s merger will unify both tokens under the…
Disgraced Terra (LUNA) founder Do Kwon is reportedly going to be extradited to the US after losing an appeal in a Montenegrin high court. According to a new report by France 24, Kwon – the person suspected of being behind the multibillion-dollar downfall of the Terra ecosystem in 2022 – had his appeal thrown out by the Montenegrin Constitutional Court, which earlier in the year ruled that the conditions for his extradition have been met. However, Justice Minister Bojan Bozovic still had to decide whether to extradite Kwon to the US or South Korea, both of which have pending charges…
A widely followed crypto analyst is issuing a warning about one red-hot utility altcoin, saying it could be in for a slow bleed to the downside. Pseudonymous crypto trader Bluntz tells his 305,200 followers on social media platform X that HYPE, the native altcoin of decentralized perpetual trading platform and layer-1 blockchain Hyperliquid, may be due for a significant correction. According to Bluntz, who applies the Elliott Wave theory in his technical analysis, HYPE appears to have completed a five-wave rally and now looks as if it is entering an ABC corrective wave that may last into early next year.…
A widely followed crypto analyst is leaning bullish on altcoins as Bitcoin (BTC) hovers below the $100,000 psychological level. In a new strategy session, pseudonymous crypto trader Altcoin Sherpa tells his 236,200 followers on the social media platform X that altcoins are due to explode over the coming weeks. According to Sherpa, one catalyst that will drive the altcoin rally is the fact that many of them have been capitulating for a long time. “Coins like [privacy-focused] Oasis (ROSE) chopped around for YEARS and are still consolidating. Hard to think these won’t fully send.” Source: Altcoin Sherpa/X Sherpa further says…
The development team behind dog-themed meme asset Floki (FLOKI) is announcing a plan to launch a new exchange-traded product (ETP). In a new thread on the social media platform X, the project says it has been working closely with a respected asset manager to create a FLOKI-based ETP for European inventors, set to launch in Q1 of next year. “We’ve been actively working with a respected asset manager and an ETP issuer to launch a Floki ETP for quite a while now. After months of due diligence and painstaking effort, we’ve been told that the Floki ETP is on track…
Crypto investors were heavily drawn to meme assets in 2024, according to a new study. In a research paper, CoinGecko says that the majority of crypto interest in 2024 hit the memecoin sector, which saw an expansion from dog-themed tokens to other animal and personality-themed digital assets. “The most popular crypto narrative in 2024 was by far the memecoin narrative, which captured a combined 30.67% of global investor interest across the main memecoin narrative and 25 memecoin trends. In other words, almost a third of crypto narrative interest this year was focused on more speculative opportunities with less emphasis on…
The co-founder of Animoca Brands, a leading firm in the blockchain gaming space, had their X social media account hacked and used to promote a fake Solana (SOL) token. In a new thread on the social media platform X, Animoca Brands – known for creating metaverse game The Sandbox (SAND) – says that founder and chairman Yat Siu’s X account was taken over by bad actors and used to endorse a fake token launch on Solana. “Unfortunately Yat Siu’s social media account has been compromised. There is no official token or NFT (non-fungible token) launch from Animoca Brands. The token…