Lưu trữ cho từ khóa: Dogwifhat

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ADA, TIA, WIF see positive sentiment; can they capitalize on it?

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Cardano, Celestia and dogwifhat are witnessing positive sentiment on social platforms as the broader crypto market.

According to data provided by Santiment, Cardano (ADA) and Celestia (TIA) recorded an impressive surge in their respective weighted sentiments over the past two days. Dogwifhat’s (WIF) bullish social sentiment was triggered yesterday, Sept. 24, as the meme coin’s upward momentum started.

Weighted sentiment of ADA, TIA and WIF – Sept. 25 | Source: Santiment

The dominant positive sentiment around these tokens has brought impressive gains as well.

ADA rose by 6.3% in the past 24 hours and is trading at $0.38 at the time of writing. Its market cap is currently sitting at $13.8 billion with a daily trading volume of $350 million. 

ADA price and RSI – Sept. 25 | Source: crypto.news

Cardano’s bullish momentum started after the U.S. Federal Reserve announced a 50-basis-point rate cut on Sept. 18 — unlike the March 2020 rate cut that crashed the ADA price by 57%.

Moreover, Cardano recorded a pretty similar positive sentiment on social platforms on Sept. 2 on the back of its Chang hardfork announcement. The upgrade switched the network’s system to decentralized.

TIA briefly touched a local high of $6.8 earlier today but soon started to decline. At this point, Celestia is up by 1.3% over the past day and is changing hands at $6.36 at the reporting time. The asset’s market cap is hovering at $1.35 billion with a daily trading volume of $240 million.

TIA price and RSI – Sept. 25 | Source: crypto.news

Celestia recorded most of its gains yesterday after a $100 million funding round. 

WIF also gained 12.5% in the past 24 hours and is currently trading at $2. The meme coin had been struggling around the $1.5 mark for almost a month and bullish movements after the rate cut news emerged last week.

WIF price and RSI – Sept. 25 | Source: crypto.news

Despite the positive sentiment surrounding these tokens, their Relative Strength Index has already heated up.

ADA, TIA and WIF saw their RSIs rise to 74, 60 and 68, respectively. While Cardano has already entered the overbought zone, Celestia and WIF aren’t far away from the 70 RSI mark.

High RSI levels usually bring high price volatility due to increased profit-taking among short-term traders. However, if the market-wide upward momentum is sustained, further gains could be expected for these tokens thanks to the positive sentiment surrounding them.

It’s important to note that macro events can instantly change the direction of financial markets.

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Theo Crypto News

DeFi

WIF leads meme coin rally with 12% surge

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Solana-based meme coin dogwifhat has jumped 12% and has ranked as the top gainer in the market today.

At the time of writing, dogwifhat (WIF) was still up 11.5%, trading at $1.58 per price data from crypto.news. The crypto asset’s daily trading volume was hovering around $598 million while its market cap had risen to $1.58 billion. Following the latest price increase, the dog-themed meme coin has taken 55th place among the cryptocurrencies by market cap.

WIF 24-hour price chart – Sep. 3 | Source: crypto.news

WIF’s recent surge is fueled by the recent whale accumulation of Dogwifhat tokens, with one whale acquiring over 9.57 million WIF tokens, worth $13.59 million, within just four days. Another whale used 1.4 million USDC to purchase 643,832 WIF tokens, making them the largest holder with 28.66 million tokens. Thie trend indicates growing investor confidence in WIF’s potential rebound, even after a 67% drop in value over the past year.

WIF remains the fourth-largest memecoin by market capitalization and the top Solana-based memecoin.

Data from Coinglass reveals that WIF’s total open interest jumped by 12.7% in the last day, increasing from $187.97 million to $211.8 million, reflecting growing trader engagement and anticipation of potential price movements.

Data from the market intelligence platform also shows that WIF’s aggregated funding rates are currently at -0.0015%, signalling a bearish sentiment among traders regarding WIF’s price outlook.

WIF’s current price positions it near the middle Bollinger Band, around $1.58, which often acts as a dynamic support or resistance level. Meanwhile, the MACD line has recently crossed above the signal line, suggesting a possible bullish momentum shift.

WIF Bollinger Bands and MACD chart – Sep. 3 | Source: crypto.news

If the price is sustained above the middle band, it could attempt to move towards the upper Bollinger Band at around $1.90. However, if the price fails to hold above this middle band, it may face further consolidation or a pullback toward the lower band around $1.25.

Meanwhile, a descending triangle emerged between late July and August, characterized by steadily declining highs and a firm support level. This formation typically hints at a potential bearish breakout, especially if the price breaches the established support line.

WIF’s recent price surge aligns with a broader uptick in the meme coin market, which has increased by 5.7%, reaching a total valuation of $ 40.6 billion over the past 24 hours. Alongside WIF, other notable meme coins like Pepe (PEPE), Bonk (BONK), and Brett (BRETT) have also seen gains, rising by 5.7%, 6.6%, and 4.3%, respectively.

Meanwhile, the global crypto market has also experienced a 1% surge, bringing it to a total valuation of $2.16 trillion. Bitcoin (BTC) is also in the green, up 2.1%, and it is exchanging hands at $58,895.

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Theo Crypto News

Bitcoin

Dogwifhat soars 20% amid Bitcoin’s rebound to $57k

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Solana-based meme coin dogwifhat has jumped 20% over the last day as Bitcoin recovered back to $57,000 levels.

At the time of writing, dogwifhat (WIF) was still up 18%, trading at $1.71 per price data from CoinGecko. The crypto asset’s daily trading volume was hovering around $935 million while its market cap had risen to $1.69 billion.

WIF 24-hour price chat – Aug. 7 | Source: crypto.news

Following the latest price increase, the dog-themed meme coin has taken 49th place among the cryptocurrencies by market cap. However, WIF is still down 26.5% over the last 30 days and 64.8% from its all-time high of $44.85 reached on March 31.

The price surge in WIF also led to an increase in its Relative Strength Index (RSI), which rose from 26 (indicating it was oversold) to 42 (the neutral zone) within the past day.

This surge in WIF follows a 3% increase in Bitcoin’s (BTC) price over the same period, with the crypto asset crossing the $57,000 mark before settling at $56,874. The latest surge follows after the digital asset opened the week on a bearish note.

BTC 24-hour price chat – Aug. 7 | Source: crypto.news

As a result, the total cryptocurrency market capitalization increased by approximately 1.5% to $2.01 trillion on Wednesday during the early European trading session.

Bitcoin’s recent price recovery coincided with the fear and greed index going up to 43% signaling a neutral sentiment in the market. Nonetheless, on-chain data indicates that long-term Bitcoin investors have been buying despite the price fluctuations.

Data from Santiment shows that Bitcoin whales have purchased more than 30,000 BTC in the past two days, worth about $1.62 billion. Consequently, the supply of Bitcoin on centralized exchanges has decreased in recent days.

Meanwhile, US spot Bitcoin ETFs have underperformed compared to Ethereum’s ETFs over the past three days. On Tuesday, Aug. 6, U.S. spot Bitcoin ETFs saw a net outflow of around $148 million, primarily led by Fidelity’s FBTC and Grayscale’s GBTC.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Phân tích

WIF open interest falls to 5-month lows, price down 40% in 7 days

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The newcomer into the meme coin space, dogwifhat, recorded a massive decline in its open interest amid increased price fluctuations.

Data shows that dogwifhat (WIF) is still down by 40.6% over the past seven days despite the recent 24% price rally. WIF is trading at $1.42 with a market cap of $1.417 billion at the time of writing. 

WIF price and RSI – Aug. 6 | Source: crypto.news

On Aug. 5, the meme coin plunged to a five-month low of $1.08 as the market wandered in uncertainty.

Following the price hike, WIF’s Relative Strength Index (RSI) surged from 26 (the oversold zone) to 52 (the neutral zone) over the past day. 

According to data provided by Santiment, the WIF total open interest dropped from $183.4 million to $141.2 million over the past two days. This level hasn’t been recorded since March 1.

WIF price, open interest and funding rate – Aug. 6 | Source: Santiment

The decline in the meme coin’s open interest shows that more traders are taking a small-risk approach due to market-wide fluctuations. This can lead to lower price volatility for dogwifhat since lower liquidations would be expected.

Data from the market intelligence platform shows that the funding rate aggregated by WIF on all exchanges rose from 0.001% to 0.003% over the past 24 hours. The indicator shows that traders are betting on WIF’s price hike.

However, major macroeconomic events could change the direction of the cryptocurrency markets despite bullish technical and on-chain indicators.

One of the most important events that triggered a market-wide downturn on Aug. 4 was the geopolitical tension between Iran and Israel, and the expectations of a potential war. 

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Phân tích

4 crypto winners: WIF, HNT, CORE, and PEPE boast over 40% in weekly gains

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Dogwifhat, Helium, Core, and Pepe have emerged as the top gainers in the crypto market over the past week. Each token experienced a price surge exceeding 40%.

Dogwifhat

Dogwifhat (WIF) is up over 50% for the past seven days, exchanging hands at $2.56 at the time of writing.

The crypto assets had a daily trading volume of $311 million, while its market cap had surpassed the 2.55 billion mark per data from CoinMarketCap

WIF price chart | Source: CoinMarketCap

Despite lacking any clear utility, WIF — the dog-themed meme coin based on Solana — has become one of 2024’s top-performing meme coins.

Its website humorously notes that it is “literally just a dog wif a hat.”

The WIF token has outperformed other well-known meme coins like Shiba Inu and Pepe Coin in terms of price gains. In March, supporters swiftly funded a campaign to project the Dogwifhat image onto the Las Vegas Sphere, surpassing their fundraising target within days.

Helium

Helium (HNT), a blockchain network aimed at the Internet of Things (IoT), surged by 47.8% over the past week and is now trading at $4.70.

With a market cap of about $756 million, Helium ranks 92nd in global cryptocurrency rankings by market cap, as reported by CoinMarketCap, and has a trading volume of approximately $8.6 million.

HNT price chart | Source: CoinMarketCap

Helium is a pioneering blockchain network designed to enable wireless communication for IoT devices globally.

Created by Helium Inc., which was established in 2013, this network offers a decentralized, cost-effective, and scalable connectivity solution.

Rather than depending on centralized infrastructure like traditional telecom services, Helium’s unique approach allows individuals to become network hosts by running Hotspots—specialized hardware devices that offer coverage and transmit data for IoT devices.

In exchange for their participation, hosts receive Helium tokens (HNT), thereby encouraging the expansion and density of the network.

Core

Core (CORE) saw a 47% increase over the past seven days. According to price data from crypto.news, CORE is currently priced at $1.64, with a 62.9% rise in daily trading volume to around $115 million.

CORE price chart | Source: TradingView

Currently, CORE’s market capitalization is valued at $1.47 billion. Despite the recent upswing, the token’s price is still 75% lower than its all-time high of $6.47, recorded on Feb. 8.

Core operates as a decentralized digital payment system on its dedicated blockchain network. It employs a proof-of-work protocol to validate transactions and to mine new coins. The cryptocurrency is designed with a focus on privacy, supporting anonymous transactions through sophisticated cryptographic methods.

As an open-source project, Core’s development is supported by a worldwide community of volunteer developers.

This digital asset is used for direct peer-to-peer transactions, is stored in crypto wallets, and is available for trading across various digital asset exchanges.

Pepe

Pepe (PEPE) rose 40% over the past day, trading at $0.000012 at press time. Its daily trading volume hovers at around $614 million over the last 24 hours.

The PEPE market cap stands at $5.16 billion, ranking it as the 22nd largest cryptocurrency.

PEPE price chart | Source: TradingView

Pepe, an Ethereum-based token that debuted on April 15, draws inspiration from the popular meme culture. It aims to capitalize on the meme coin trend, leveraging the widespread recognition of its amphibian mascot. This approach has resonated well with traders and investors, elevating the token’s profile in the cryptocurrency market.

Designed as a deflationary token with no tax implications for transactions, Pepe seeks to carve out a significant position among established meme coins like Shiba Inu and Dogecoin. The token’s association with the well-known “Pepe the Frog” meme is central to its strategy to attract a broader user base.

Bitcoin climbs 12% in strong recovery

The overall surge in these altcoins followed Bitcoin’s (BTC) 12% rise over the past week, reaching $67,180 on Sunday. Bitcoin’s 24-hour lows and highs were $66,640 and $67,567, respectively.

Yesterday, the world’s largest cryptocurrency attempted to breach the $68,000 mark but faced resistance, leading to a premature halt in the rally by bearish traders.

Despite this setback, BTC’s strong performance over the week has positively influenced the broader cryptocurrency market sentiment. The sentiment has shifted from Fear to Greed, with the Greed index rising sharply to 74, a significant increase from last week’s score of 33.

Meanwhile, the global cryptocurrency market cap also witnessed a 1.42% increase over the last day, elevating to a total of $2.43 trillion.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

DeFi

Comparative analysis of long-term and short-term memecoins

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Memecoins are notorious for their rapid rises and falls, but some are beginning to show promise for long-term growth. We look at prominent memecoins FLOKI, PEPE, WIF, Bonk, and TEA to see how they fare.

The memecoin world is complex and dynamic. Every few weeks, flashy new coins emerge unexpectedly, surge overnight, and vanish just as quickly. Nowadays, it seems that very few memecoin projects have long-term goals, detailed road maps, or strategic plans to rely on. While many investors do not place much value in long-term utility, an increasing number are looking toward projects with more complex strategic plans. Today, let’s explore a few prominent memecoins with short-term growth trajectories and some with long-term potential.

FLOKI

FLOKI is the utility token for the Floki Ecosystem. The coin’s ecosystem includes a variety of features designed to provide tangible utility, distinguishing it from other memecoins.

One standout element is “Valhalla,” an immersive metaverse game where users can earn FLOKI tokens through gameplay and avatar creation. FlokiFi, a decentralized finance (DeFi) platform offering services like staking, swapping, and yield farming, is another popular project offering. 

The ecosystem also includes an NFT and merchandise marketplace dubbed FlokiPlaces and the University of Floki, an educational platform focused on cryptocurrency knowledge.

Floki’s community engagement is notable, regularly appearing in LunarCrush’s Top 10 social engagement leaderboards. The memecoin has partnered with major crypto projects like Chainlink and ApeSwap, further adding to its credibility.

The project is backed by Floki Vikings, a highly engaged community that plays a crucial role in its growth. The token is up 688% over the past year.

Floki’s community-driven approach, paired with the project’s focus on developing real-world use cases makes it a notable pick for long-term investments.

PEPE

Pepe is an Ethereum-based token that taps into meme culture. Pepe quickly garnered interest from investors, reaching the top 100 cryptocurrencies by market cap within two weeks of its launch.

Pepe Coin benefits from its ERC-20 token status on the Ethereum network, which provides high security through its Proof-of-Stake (PoS) consensus mechanism. This status also ensures compatibility with various Decentralized Applications (dApps) and wallets.

The token’s community engagement is a key strength. With over 678,000 followers on X and a presence on Telegram, Discord, and Reddit, the team actively fosters a vibrant and supportive community. Future plans for Pepe Coin include launching a Pepe Academy and merchandise to expand its ecosystem and maintain a strong market position.

It has risen by 6% over the past month and 690% over the past year. At the time of publication, the token’s daily trading volume was hovering around $854 million. Considering its past track record and loyal community backing, the token stands as a strong candidate in this list.

WIF

Dogwifhat (WIF) is a newcomer to the memecoin space but has captured significant investor attention. Inspired by a viral meme of a Shiba Inu dog wearing a pink-knitted hat, the cryptocurrency was launched on the Solana blockchain in December 2023.

Dogwifhat has demonstrated steady growth, achieving a market cap of $2 billion following its listing on Binance. Emphasizing decentralization, the coin’s governance is controlled by its community of token holders. The coin has a total supply of over 998.9 million tokens, with its value driven by community interest and speculation rather than functional use cases. 

What differentiates WIF from its competition is its commitment to decentralization. The ownership of Dogwifhat has been fully renounced, meaning no single entity has control. The creator’s balance is zero, preventing any undue influence from the original developers. 

Dogwifhat entered the market at around $0.001555 in December 2023. It briefly peaked before dropping in January. However, in late February, the price surged to reach an all-time high of $4.83.

WIF remains a significant player in the memecoin space, especially for those seeking short-term gains.

Bonk

Bonk (BONK), the first dog-themed cryptocurrency on the Solana blockchain, was introduced on December 25, 2022. Its launch saw the SOL token surge 34% within two days. Trading of Bonk began on December 30, quickly capturing the attention of the crypto community.

The core idea behind Bonk is to improve liquidity across decentralized exchanges (DEXs) built on Solana, supporting a robust trading environment.

In addition to its core trading function, Bonk is branching out with several utility projects that enhance its ecosystem. For instance, BonkSwap, a decentralized exchange for trading meme coins and other tokens, offers features like liquidity pools and yield farming. Then there’s BonkBot, a Telegram bot that lets users buy Bonk tokens, track prices, set alerts, and engage in airdrops directly on the messaging platform. 

Lastly, the Bonk Rewards program incentivizes users to lock their tokens by offering rewards through various ecosystem contributions, including BonkBot and Solana Validator Business (SVB).

These initiatives not only increase the token’s utility but also strengthen its position in the market, illustrating Bonk’s evolution from a mere memecoin to a more functional short-term asset within the Solana network.

TEA

TEA is an up-and-coming community-driven memecoin on Solana, that aims to unite tea lovers and the crypto community. Tea can be categorized as memecoin with long-term potential, thanks to its detailed roadmap and strategic plans. 

Achieving milestones in its meticulously planned road map, TEA has already been listed on major decentralized exchanges (DEXs) and launched $TEA-Farming (where users provide liquidity to $TEA pairs on decentralized exchanges and earn rewards in $TEA tokens). 

Next on its roadmap are its future plans for CEX listings, an NFT collection launch, the Tea-Tap Game, and RWA partnerships, with exclusive teas becoming available to TEA-family HODLers.

TEA’s utility is another factor that makes it stand out in the memecoin space. The project employs well thought out mechanics for steeping (staking), harvesting (farming), and brewing (burning) mechanics.

Staking TEA tokens offers rewards of 20% APY for 6 months and 50% APY for 12 months, distributed from the TEA Fund pool. TEA tokens can also be farmed for additional rewards. More precisely, they can be farmed for rewards through LP farming or staking TEA to earn top MEME coins. Furthermore, TEA tokens can be burned to reduce supply, with 50% going to charity and 50% raffled among senders monthly.

Despite these impressive features and plans, TEA has faced challenges. Recent rumors and accusations of presale fund embezzlement plagued the project for a short while. However, TEA received unwavering support from its strong community of over 3.2 million members. Moreover, on-chain analysis clarified the flow of the funds. The investigation conducted shows that the funds were converted into liquidity. 

Following the presale’s close on July 4, the project engaged in various operations from its wallets by July 9, including minting, DEX listing, liquidity provision, and price maintenance. All of these attributes point to a well-planned project with an inbuilt compass that guides it in the right direction. 

Conclusion

In the intriguing world of memecoins, each project holds its own merit. While many of the prominent and well-loved memecoins of today show promise for short-term gains, FLOKI, PEPE and TEA, a promising new Solana memecoin, offer a unique combination of immediate profitability and sustainable growth. 

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Phân tích

Chart of the week: 1-Month performance review

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crypto.news recently launched a “Chart of the Week” series on Fridays to showcase potential trades with significant gains. Over the past month, five coins appeared interesting, leading to seven trades, both long and short. The total portfolio return ended in the green.

Below are two tables that provide a comprehensive overview of the trading activities over the past month. The first table outlines each trade, specifying the tokens selected and the type of trade conducted.

Cryptocurrency Trade 1 Trade 2
LIDO SHORT LONG
BONK LONG N/A
OM SHORT IGNORED
NOT LONG SHORT
WIF LONG N/A
Summary of trades by token and trade type

On the other hand, the second table details the percentage returns from each trade.

Cryptocurrency Trade 1 Trade 2
LIDO 11.62% 7.5%
BONK 20.93% N/A
OM -5% N/A
NOT 9.03% 11.24%
WIF 10% N/A
Percentage returns from each trade

Careful analysis of market trends and token positions led to success in determining movements 6 times out of 8 predictions, with 7 of these predictions resulting in trades. Two trades involving Mantra failed, as the token’s price surged instead of declining, triggering the stop loss and causing a 5% loss. This led to abandoning the trade, making both predictions incorrect. Therefore, 6 trades succeeded, and 1 trade failed.

Overall, the success rate was 85.71% in trades and 75% in predictions. With an initial $1,000 allocated to the first trade and all returns reinvested, the portfolio generated a total return of 83.91% or $839.11.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News