A widely followed analyst is updating his outlook on Bitcoin (BTC) as the king crypto sits at around $43,000. Pseudonymous crypto trader Kaleo tells his 611,000 followers on the social media platform X that he believes Bitcoin will reach new all-time highs (ATHs) sooner than he previously thought. He now believes BTC will reach ATHs […]
The post Analyst Says Bitcoin Could Hit New All-Time Highs Earlier Than Expected, Updates Outlook on Shiba Inu Rival appeared first on The Daily Hodl.
The dog-themed token has surged to become the third-largest memecoin overall.
A Solana-based dog-themed memecoin called Bonk (BONK) has now become the third-largest memecoin by market capitalization, surging past that of fellow memecoin Pepe (PEPE) on Dec. 8.
Bonk’s recent price growth — 370% in the last month — has seen its market cap grow to $762 million, compared to Pepe’s current $675 million market cap, per CoinGecko data.
In the past 30 days, BONK has grown from $0.0000028 to $0.000012 as traders rushed to capitalize on a new wave of interest in the Solana ecosystem.
A widely followed crypto analyst says that the next two months will be dynamite for altcoins as he updates his outlook on three digital assets. Crypto strategist Michaël van de Poppe tells his 676,100 followers on the social media platform X that while the bottom for the BTC/ETH pair may be coming in, the next […]
The post ‘Coming Two Months Are Going To Be Electric for Altcoins’, Says Trader As He Updates Outlook on Three Cryptos appeared first on The Daily Hodl.
A widely followed crypto trader is expressing bullish sentiment for one memecoin rival of Dogecoin (DOGE) and Shiba Inu (SHIB). Pseudonymous analyst Bluntz tells his 227,700 followers on the social media platform X that Pepe (PEPE) could soar by more than 30% from its current value. Bluntz utilizes the Elliott Wave theory in his technical […]
The post Top Analyst Says ‘Rage Pump’ Loading for Dogecoin (DOGE) and Shiba Inu (SHIB) Rival – Here Are His Targets appeared first on The Daily Hodl.
A crypto whale was recently spotted by a blockchain monitoring platform withdrawing a massive stack of Ethereum (ETH) from Binance over the weekend. First seen by Lookonchain, a “smart whale” deposited 31.8 million Tether (USDT) into Binance, and then withdrew $15.94 million worth of ETH hours later. Just hours later, the whale took out another […]
The post ‘Smart Whale’ Withdraws About $32,000,000 Worth of Ethereum (ETH) From Crypto Exchange Binance: Lookonchain appeared first on The Daily Hodl.
A closely followed crypto trader believes that the top memecoin Dogecoin (DOGE) is gearing up for a breakout rally. Pseudonymous trader The Flow Horse tells his 183,000 followers on the social media platform X that he believes DOGE has a lot of upside potential after moving above its diagonal resistance on the weekly chart. “All […]
The post Top Crypto Strategist Predicts Dogecoin Will ‘Bark’ Again Soon, Updates Outlook on DOGE Rival Pepe appeared first on The Daily Hodl.
A prominent market intelligence platform says that a handful of altcoins should continue to rally as traders continue to focus on Bitcoin (BTC) and Ethereum (ETH). In a new thread on the social media platform X, crypto analytics firm Santiment says that nine altcoins – including Polygon (MATIC), Decentraland (MANA), Fantom (FTM), and Pepe (PEPE) […]
The post Pepe, Polygon, Fantom and Six Other Altcoin Rallies Could Continue, Says Analytics Firm Santiment – Here’s Why appeared first on The Daily Hodl.
New data reveals that deep-pocketed crypto investors are shifting hundreds of millions of dollars worth of crypto assets, including Bitcoin (BTC) and Dogecoin (DOGE). According to data from whale-surveying platform Whale Alert, about $544 million worth of the top crypto asset by market cap has been moved into crypto exchanges or unknown wallets. Transactions involving […]
The post Whales Move Over $590,000,000 in Bitcoin, XRP, Dogecoin and Pepe – Here’s Where the Crypto’s Headed appeared first on The Daily Hodl.
FLOKI's gains coincide with the launch of its tokenization platform, TokenFi, but is the rally sustainable?
Bitcoin's (BTC) rise to as high as $35,000 this week has also lifted a number of memecoins, including Floki (FLOKI), which has beaten its top rivals in percentage gains.
As of Oct. 27, FLOKI had surged over 140% to $0.00004261, its highest level in five months. The memecoin, known for its controversial marketing tactics, started rallying after New York-based Grayscale Investments filed for a new spot Bitcoin exchange-traded fund (ETF) on NYSE Arca, as shown below.
Looking at the past 24 hours, FLOKI's gains have picked an additional boost from the launch of its tokenization platform, TokenFi, with its own native token, TOKEN, on Oct. 27. Notably, users will be allowed to stake their FLOKI holdings to receive TOKEN.
$FLOKI is launching staking and a new tokenization platform to target the $16 trillion tokenization industry today! ️️️️
— Shelby (@CryptoNewton) October 27, 2023
Their new token is named TokenFi with the $TOKEN ticker! ️️️️️️
Brilliant idea and execution. No wonder #Floki is outperforming $DOGE, $SHIB,… https://t.co/n3sjXYdnJR
FLOKI's ongoing price rally has brought its daily relative strength (RSI) to its most overbought level since January 2023.
An overbought RSI typically precedes a correction period. In FLOKI's case, its earlier stint with overbought RSI's has followed up with strong price declines, thus raising the possibility of a similar downside reaction in the coming days or weeks.
If FLOKI's rally stalls, then the FLOKI/USD pair risks dropping toward its 0.5 Fibonacci retracement line near $0.00003548 in October 2023. A decisive close below the level may crash the price toward the 0.236 Fib line near $0.00003069 in November 2023, down 20% from the current price levels.
Conversely, the price may break above the current resistance level of $0.00004027 to pursue a run-up toward $0.00004078.
Almost all memecoins have underperformed top-ranking cryptocurrencies like Bitcoin so far in 2023, with some even returning year-to-date (YTD) losses.
For instance, top memecoin Dogecoin (DOGE) has rallied over 30% since the Grayscale Bitcoin ETF announcement on Oct. 19. Nonetheless, its YTD returns as of Oct. 27 are a mere 1.3%, compared to BTC's 105% gains in the same period.
Similarly, Shiba Inu (SHIB) is down 2.75% YTD despite rallying nearly 25% in the last seven days.
The only exceptions are Pepecoin (PEPE). A memecoin that debuted in April 2023 and has risen over 500% since. Then there's FLOKI, whose YTD returns are around 435% as of Oct. 27.
Related: Is Bitcoin overheated? Some believe the answer is hiding in PEPE
Speculators hunt memecoins for maximum returns in minimum time, typically when risk sentiment is strong across the crypto space. For instance, the 2020-2021 crypto bull market saw Dogecoin surging up to 67,475% versus Bitcoin's 1,700% gains.
Nonetheless, memecoins can fall as drastically when risk sentiment exhausts.
DOGE, for instance, has crashed 90% from its 2020-2021 bull market top. Therefore, whether or not memecoins will continue their rally in the future largely depends on the ETF update and its impact on the BTC price.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
The crypto community on X is on edge over cryptic posts by Ripple’s chief technology officer and X itself.
The crypto community on X (formerly Twitter) has been thrown into a series of guessing games by a couple of cryptic posts.
One of the posts was made by David Schwartz, Ripple’s chief technology officer. He published a picture of a frog sitting on the leaf of a lily pad, with a water lily flower on each side of the frog. This prompted a response from the cryptocurrency community, particularly XRP (XRP) and Pepecoin (PEPE) enthusiasts.
XRP enthusiasts expressed sentiments such as “Hoping this translates into a transformative XRP price” and “Anticipating a quantum leap or major shift.“ A PEPE-themed X account, xPEPE, suggested that Schwartz had come to a favorable realization and raised a “bullish flag for frog enthusiasts worldwide.“
— David "JoelKatz" Schwartz (@JoelKatz) October 24, 2023
X user Juan Martinez commented, “Welcome aboard Sir.“ The X user added an image of two frogs on the moon with a PondX logo on it.
Meanwhile, a second cryptic post was made by X itself, sharing a meme of a dog answering a telephone call, which has sparked speculations among the crypto Dogecoin (DOGE) community and others.
Although the post lacks specific details, it’s suspected by some Dogecoin enthusiasts that X, associated with Elon Musk, is likely exploring Dogecoin adoption on the platform. It’s worth noting that similar speculations have circulated in the past.
— X (@X) October 24, 2023
However, some believe the post hints at a new audio calling feature. X user Alx asked if an audio calling feature is imminent on X but received no clear response from X.
Related: Elon Musk’s X platform faces backlash over pro-XRP account suspension
Nonetheless, Musk’s previous endorsement and positive remarks about Dogecoin have ignited excitement among Dogecoin enthusiasts for a while.
Magazine: Peter McCormack’s Twitter regrets: ‘I can feel myself being a dick’ — Hall of Flame
