Lưu trữ cho từ khóa: Meme coin

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DOGE, APE, DIA: Top cryptocurrencies to watch this week

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The global crypto market cap added $140 billion, spiking 6.3% to close the week above a two-month peak of $2.35 trillion.

Bitcoin (BTC) championed the recovery, breaking past $68,000 and sparking a strong rally across the altcoin market.

Here are some of the assets that leveraged this rebound campaign and how they performed:

DOGE records seven straight intraday gains

Dogecoin (DOGE) was one of the biggest beneficiaries of the market recovery last week, recording seven consecutive days of gains throughout the week.

DOGE 1D chart – Oct. 20 | Source: crypto.news

The dog-themed meme coin closed the week at a four-month high of $0.144, having gained 27%. This marked Dogecoin’s best weekly performance since late February during the broader meme coin market rally.

However, the latest uptrend has faced a roadblock, following a spike in the Dogecoin CCI to 247. If this week introduces bearish pressure, DOGE would need to hold above $0.137 to avoid the 20-day SMA support at $0.116.

APE spikes 54% on mainnet launch

Despite underperforming throughout last week, ApeCoin (APE) engineered a last-minute rally that saw it close the week at $0.87 amid a 20% gain. 

APE 1D chart – Oct. 20 | Source: crypto.news

This upsurge was mainly due to the mainnet launch of ApeChain, the project’s blockchain, yesterday. 

After breaching $0.92, APE faced major resistance at the upper Bollinger Band yesterday. However, the uptrend resumed in the new week, with APE surging 54% to breach the $1 mark for the first time in four months.

Meanwhile, its RSI has crossed into overbought territories at 85. This position suggests the rally might face exhaustion without renewed buying pressure. A drop below $1 could lead to steeper declines.

DIA hits 32-month peak

DIA (DIA) began the week bearish, but recovered to outperform most assets. After a mixed performance, DIA spiked by a massive 42% on Oct. 17, reclaiming $1 for the first time in two years.

DIA 1D chart – Oct. 20 | Source: crypto.news

Following an 8% correction the next day, DIA resumed the uptrend, gaining by another 14% on Oct. 19. This allowed it to close the week with a 44% gain, trading at a high last seen 32 months ago. Its monthly volume has spiked to 716 million DIA, the highest in history. 

Meanwhile, the token’s +DI has spiked to 40.28, confirming immense bullish momentum. The ADX at 50.19 suggests that the push is especially strong. However, this could also indicate an overextension of the rally, with a correction looming.

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Theo Crypto News

Bitcoin

POPCAT rally cools, WYAC and PHIL meme coins pump double digits

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With Bitcoin up above $68,000, meme coins like Woman Yelling At Cat, Settled EthXY Token and Phili Inu spiked double digits.

According to CoinMarketCap, the global crypto market has slowly recovered from last week’s slump. The crypto market cap has jumped to $2.34 trillion from last weekend’s $2.17 trillion.

Bitcoin (BTC) is hovering above $68,000, and Ethereum (ETH) is trading around the $2,600 level. But in the last few hours, the market seems to be cooling down, with signs of a potential reversal.

Despite this uncertainty, these three meme coins are up by double digits.

Woman Yelling At Cat pumps 80%

The latest data from CoinGecko shows an interesting price trajectory for a Taylor Armstrong-inspired meme coin.

Woman Yelling At Cat (WYAC), which gets its name from a meme that spoofs an episode of “The Real Housewives of Beverly Hills,” surged from a 24-hour low of $0.02504 to a high of $0.05288.

The exact reason for the price surge is unclear. And yet, WYAC’s popularity is growing on social media, including X.

See the chart below.

1 month price chart from CoinGecko

However, the surge seems to have cooled down now. The WYAC coin now has a market cap of $45.5 million. Interestingly, the meme coin touched an all-time high on Oct. 17.

This recent surge has earned the meme coin its position as the largest gainer on CoinGecko’s list. On-chain data portal Alphanomics also shared that WYAC is one of the top five biggest price gainers in the last 30 days, with a 6200% surge.

SEXY and PHIL soar

After perusing the list of CoinGecko’s top gainers on Saturday, it’s clear Settled EthXY Token (SEXY) and Phili Inu (PHIL) are up by double digits.

SEXY is up by almost 80% from its 24-hour low of $0.2408. The meme coin has also retraced after pumping as high as $0.5241.

SEXY chart from CoinGecko

SEXY first launched in August 2023 on the Ethereum blockchain.

Third on the gainers list is PHIL with a 54% pump. The meme coin — featured on the 46th edition of the SHIB Magazine — is also up by over 130% in the last 30 days, with its price now hovering around the $0.04 level.

The rise in these not-so-popular meme coins comes as Popcat’s (POPCAT) relaxed price movement. The cat-themed Solana (SOL) meme coin is down by over 3% in the last 24 hours and 15% in the last seven days.

However, POPCAT has shown similar pullbacks following major pumps in the past. But the current trajectory of the meme coin remains unclear.

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Theo Crypto News

Altcoin

Hoppy token hits all-time high, rare pattern points to more gains

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The Hoppy token continued its strong rally, reaching a record high of $0.0002890 on Friday, Oct. 18.

Hoppy (HOPPY), a meme coin on the Ethereum (ETH) network, has risen by over 18,000% from its lowest point in June. This rally has made it one of the best-performing cryptocurrencies, with its market cap soaring to over $109 million.

Hoppy’s surge is being fueled by a growing number of holders. Data from CoinCarp shows that it now has over 3,600 users, with the top ten holders accounting for 42% of the total. Its daily volume hit a record high of $14.7 million this week.

The number of holders could likely increase if the token were listed on tier-1 exchanges like Binance, Coinbase, and OKX. Additional data from CoinGecko shows that most of its trading was happening in Uniswap (UNI), the biggest player in the decentralized exchange industry. The top CEX exchanges that have listed Hoppy are MEXC, Bitmart, and BingX. 

Hoppy’s rally coincides with gains in other Solana and Ethereum-based meme coins. Data from CoinMarketCap shows that tokens like Cat in a dogs world, Book of Meme, Mog Coin, Brett, and Dogecoin were some of the best-performing cryptocurrencies in the past week. The total market cap of meme coins has jumped to $61 billion.

Hoppy token formed a cup and handle pattern

Hoppy price chart | Source: TradingView

Hoppy surged past the key resistance level of $0.0002080, its highest point on July 24. This level was significant as it represented the upper boundary of the cup and handle pattern, a common indicator of a bullish continuation.

Hoppy has risen above the 50-day moving average, suggesting that bulls are in control. However, indicators like the Relative Strength Index and the Stochastic Oscillator have moved into the overbought territory.

As a result, the token may pull back to retest the support level at $0.0002080 before resuming its bullish trend.

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Theo Crypto News

DeFi

POPCAT jumps 13.6% as analysts eye new highs

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Popcat emerged as the top gainer of the day, fueled by improved community sentiment and a notable jump in its futures open interest.

Popcat (POPCAT) is up 13.6% in the past 24 hours and is trading at $1.37 at the time of writing. Its price has also appreciated 90.5% over the last 30 days, with its market cap surging to $1.33 billion. A spike in 24-hour volume to $151.8 million confirms the growing interest.

The broader crypto community remained predominantly bullish on Popcat’s prospects, according to data from CoinMarketCap.

POPCAT’s price rally coincided with a rise in futures open interest. According to CoinGlass data, open interest in futures market jumped by 21% over the last 24 hours, indicating traders’ growing interest in the meme coin.

The number of Popcat holders has also surpassed 80,000, an indicator of expanding community participation and investor confidence.

On the 1D POPCAT/USDT chart, the meme coin’s price currently stands above its middle Bollinger band suggesting a potential continuation of the bullish trend. Moreover, the Relative Strength Index has fallen from its Oct. 12 overbought levels and currently stands at 60 suggesting there is still room for further gains before hitting the overbought zone again.

POPCAT 1D price, Bollinger Bands, and RSI chart — Oct. 18 | Source: crypto.news

Meanwhile, analysts are optimistic about Popcat. Per pseudo-anonymous market analyst Trading Tank, POPCAT is currently heading toward a strong resistance level at $1.54, its all-time high which also serves as the neckline of a bullish double-bottom price action pattern. 

According to the analyst, if POPCAT breaches the neckline, there is a strong possibility that the meme coin could reach a new high in the short term.

They also highlighted Popcat’s next potential targets. According to them, the meme coin faces resistance at $1.9250. Should bulls manage to break above this, the next targets could be $2.3850 and $3.310.

Other analysts have predicted much more bullish targets for Popcat. 

In an Oct. 17 post on X, Trade4ddict suggested that Popcat could continue its ascent toward $4, given its recent breakout above the $1 resistance level. Analyst Murad shared a similar outlook, forecasting that POPCAT could reach $5-$6.

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Theo Crypto News

Altcoin

Red alert as Ethereum price forms several dangerous patterns

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Ethereum, the second-biggest cryptocurrency, has lagged behind Bitcoin this year amid slow growth of its exchange-traded funds and competition from other layer-1 and layer-2 blockchains.

Ethereum (ETH) has rallied by less than 20% in 2024, while Bitcoin (BTC) has risen by over 50%. 

Technicals point to more Ether weakness in the coming months. On the weekly chart, the coin formed a double-top chart pattern around $4,000. It dropped below the neckline of this pattern at $2,824 in July, confirming the bearish breakout.

Ethereum has also formed a death cross pattern as the 200-day and 50-day Hull Moving Averages made a bearish crossover. The HMA reduces lag by using weighted moving averages to smooth out price data.

The last time Ethereum formed a death cross on the weekly chart was in March 2022, and the coin dropped by over 70% after that.

Ether has also formed a bearish pennant chart pattern, which is characterized by a long vertical line followed by a symmetrical triangle. Typically, an asset experiences a bearish breakout when the two lines of the triangle converge.

Additionally, this consolidation is happening at the 50% Fibonacci Retracement level. Therefore, there are increasing chances that the coin will have a strong bearish breakout in the near term, with the next target to watch being $2,111, its lowest point on Aug. 5.

Ethereum price chart | Source: TradingView

Ethereum’s weak fundamentals

In addition to weak technicals, Ethereum is also battling significant fundamental challenges. First, Ether ETFs have not seen strong inflows a few months after launch.

According to SoSoValue, these funds have had cumulative outflows of over $530 million, primarily due to the Grayscale Ethereum Fund. In contrast, Bitcoin ETFs have crossed the $20 billion inflow level, pointing to higher demand from institutional investors.

Ethereum is also seeing intense competition in areas it used to dominate like DeFi and NFTs. Data by DeFi Llama shows that Solana has crossed Ethereum in terms of DEX volume in the last seven days. It handled $10.87 billion compared to Ethereum’s $9.69 billion. 

If the trend continues, Solana may surpass Ethereum this month. Solana has handled $23.9 billion so far, compared to Ethereum’s $24 billion.

This performance is largely driven by the popularity of Solana (SOL) meme coins like Dogwifhat, Bonk, and Popcat have become popular among traders. All Solana meme coins have gained over $10 billion in market cap.

Additionally, some high-profile Ethereum whales, including Vitalik Buterin and the Ethereum Foundation, have sold thousands of coins recently.

Therefore, a combination of weak fundamentals and technicals could push Ether lower in the coming weeks.

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Theo Crypto News

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BONK spikes 8%, but bears mount resistance at critical levels

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Solana-based meme coin Bonk has become the top gainer among the 100 largest crypto assets in the past 24 hours following a recent price surge.

Its latest recovery has been powered by renewed market optimism. However, the bulls now face stiff resistance at key levels, as selling pressure returns following an impressive 8% rise yesterday.

BONK is up 8.1% over the last 24 hours, and is trading at $0.00002380 at the reporting time. Its daily trading volume has also spiked 33%, suggesting renewed market interest, with its market cap at $1.77 billion. 

BONK 1D chart – Oct. 17 | Source: Trading View

The daily chart shows a well-formed rounded bottom pattern, indicating a potential trend reversal, as the altcoin witnesses higher lows. This pattern suggests that Bonk could break out if it manages to surpass its current resistance.

Despite the recent push above it, the 23.6% Fibonacci retracement level at $0.00002379 continues to act as immediate resistance. If bulls can decisively overcome it, the next significant resistance comes at $0.00002522, the previous local high. 

However, bearish sentiment is creeping in, as evidenced by a 3% pullback this morning. In addition, the Williams %R sitting at -23.84 signals potential overbought conditions. However, the RSI at 59.86 suggests there is still room for further gains, but not without the possibility of retracements.

Meanwhile, market analyst Astekz recently highlighted BONK’s next potential targets. According to him, the meme coin faces resistance at $0.00002470. Should bulls manage to break above this, the next targets could be $0.00004804 and $0.00007140. 

However, if bears regain control, key support levels to watch are $0.00002261 and $0.00001909, the latter being crucial for maintaining the current bullish sentiment.

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Theo Crypto News

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Dogecoin price pops as volume and open interest surge

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Dogecoin price made a strong bullish breakout as investors moved back to meme coins and as Bitcoin crossed $68,000.

Dogecoin (DOGE), the biggest meme coin, rose to $0.1283, its highest level since Sept. 29. It has moved into a bull market after rising by 56% from its lowest point in August.

DOGE’s rally occurred in a high-volume environment. Data from CoinGecko shows it had a 24-hour volume of $2.25 billion, the highest level in over two weeks.

A similar trend happened in the futures market, where open interest rose to over $768 million, its highest level since June 19. Higher open interest is often a sign of increasing demand for a cryptocurrency.

Dogecoin futures open interest | Source: CoinGlass

Dogecoin’s surge mirrored that of other meme coins, which have performed well in the past few weeks. Bonk (BONK) jumped by 14.2% in the last seven days, while Brett, Neiro, and Cat in a Dog’s World have soared by over 20% in the same period.

It also occurred as interest in cryptocurrencies bounced back. Bitcoin crossed the important resistance point at $68,000 for the first time in weeks. Additionally, investors are moving to Bitcoin, with spot ETFs recording $371 million in inflows on Oct. 16. These funds have now had a net inflow of over $19.7 billion since January.

Meanwhile, Dogecoin price rose as some analysts predicted that Tesla was about to buy DOGE after moving Bitcoins worth $225 million to unknown wallets. Elon Musk has touted Dogecoin in the past, suggesting that this could be a possibility.

Dogecoin nears key resistance

Dogecoin price chart | Source: TradingView

DOGE has risen for three consecutive days and is hovering at its highest point since Sept. 30.

It has jumped above the 50-day and 200-day Weighted Moving Averages, raising the possibility that it will form a golden cross pattern. Dogecoin soared by over 53% the last time it formed this cross in November.

Dogecoin has also jumped above the ascending trendline, which connects the lowest swings since August. 

Therefore, more gains will be confirmed if the DOGE token rises above the key resistance point at $0.1318, its highest point on Sept. 28. A move above that level will indicate more gains, with the next reference level at $0.1440, its highest level on June 21.

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Trader missed out on $6m profit after selling Solana-based meme coin

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A cryptocurrency trader recently missed out on a massive profit potential after selling his Goatseus Maximus tokens too soon. 

According to data provided by Solscan, the trader initially bought 19.72 million GOAT tokens on Oct. 10, making three separate transactions between 21:37 and 21:48 UTC. He spent 40 Solana (SOL), worth $5,500 at the time, to acquire his holdings. 

However, shortly after his purchase, the price of GOAT faced extreme volatility, crashing by over 72% within just an hour. The token’s value fell to a low of $0.00004076, prompting the trader to panic. 

Fearing the price might drop to zero, as is common with new meme coin projects, he decided to sell his entire position at 22:24 UTC, barely an hour after his purchase.

The trader sold all 19.72 million GOAT tokens for just 7.87 SOL, about $1,100, taking a loss of 80% on his initial investment, amounting to $4,400. At the time, this seemed like a sensible decision given the sharp price decline. However, just five days later, the asset’s price skyrocketed.

The 19.72 million tokens the trader sold are now worth over $6 million at the time of writing, as the token’s value climbed to $0.3082. This represented a massive increase of 751,126% from the earlier low of $0.00004076. 

GOAT price – Oct. 16 | Source: Trading View

The recent event is the latest in a long line of similar occurrences. In March, an investor who participated in the Book of Meme (BOME) presale sold their BOME tokens too early. Despite earning over $100,000 in profits, they missed out on a $1 million gain.

In August, another trader sold their Sundog (SUNDOG) tokens to net a profit of about $400 within 20 minutes. However, this proved to be a premature decision, as the tokens’ value rallied to $2 million days later.

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Theo Crypto News

Altcoin

Wintermute: 40% of Solana’s trading volume centers around meme coins

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Solana has surged ahead of Ethereum in weekly on-chain trading volumes, driven by a remarkable uptick in meme coin activity that now accounts for 40% of its trading landscape.

The crypto landscape is shifting, with Solana recently eclipsing Ethereum in weekly on-chain trading volume. A recent report from Wintermute shows that Solana’s (SOL) trading volume jumped 50% to $51 billion, while Ethereum (ETH) reached $46 billion, reflecting the ongoing recovery of the crypto sector from recent lows.

A big driver behind this momentum appears to be the rise of meme coins, which now account for 40% of Solana’s trading activity, fueled by meme coin marketplace pump.fun, which now accounts for 35% of Solana’s total decentralized exchange volume. However, despite the extensive hype, only 0.76% of pump.fun wallets have generated $1,000 or more, as crypto.news reported earlier in an exclusive deep-dive report.

The influx of speculative trading has led to a dramatic increase in token generation on the network, capturing an impressive 86% market share, up from 60% in early September, Wintermute notes. Weekly token generation also skyrocketed from 45,000 to 110,000 tokens.

Meme coins themselves have outperformed other sectors as well, with the GMCI’s Meme Index rising 34% in September, closely trailing the 39% growth of the GMAI Index. Year-to-date, the index has surged 140%, far surpassing the GMAI Index’s 83% growth, Wintermute notes.

Analysts suggest that Solana’s burgeoning meme coin activity “could potentially catalyze broader growth across the entire industry,” adding that the calm in crypto markets may be the “prelude to a storm as the U.S. election approaches.”

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Theo Crypto News