Lưu trữ cho từ khóa: Memes

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DADDY Tate and MOTHER Iggy dive as the fear and greed index slips

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MOTHER Iggy and DADDY Tate’s crypto tokens were under heavy selling pressure on Friday.

DADDY, which is associated with Andrew Tate, crashed by over 20% on Friday and reached an all-time low of .074. Its market cap dropped to over million, down from its all-time high of over 2 million. MOTHER, which was promoted by Rapper Iggy Azelia, dropped to .0666 from an all-time high of .2340. Like DADDY, its market cap has dropped from over 6 million to about million on Friday. 

The token crashed even after it was available in Wintermute, a leading algorithmic trading platform. It was also listed by Coins.ph, a leading crypto exchange in the Philippines.

DADDY and MOTHER dropped as a sense of fear spread in the crypto market. The crypto fear and greed index retreated to the neutral level of 52 and is slowly approaching the fear level. It has dropped from the year-to-date high of over 91. In most cases, cryptocurrencies underperform when investors are fearful. 

Crypto fear and greed index

Bitcoin and altcoins crashed

The crash happened as a sea of red spread across the crypto industry. Bitcoin fell to ,000, its lowest point since May 15th after it formed a double-top pattern at ,000. In most periods, Bitcoin sets the tone in the crypto market. 

Other major coins like Chainlink, Solana, and Cardano also sunk. Similarly, popular meme coins like Pepe, Beercoin, and Bonk fell by double digits.

Therefore, the question is whether DADDY and MOTHER tokens will bounce back or continue the downward trend. 

While the sentiment is weak, there is a possibility that they will rebound in the near term as traders buy the dip. A sustained rebound will likely happen if Bitcoin stages a comeback and moves above ,000. 

Some crypto bulls like billionaire Michael Novogratz believe that Bitcoin has a room to rebound to 0,000 if it moves above the all-time high of ,6000. Cathie Wood and Rich Dad’s Robert Kiyosaki have made bullish predictions recently.

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Theo Crypto News

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Beercoin price hits all-time low as trader predicts a rebound

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Beercoin price continued its downward on Friday and has now dropped in 10 of the past 11 days, pushing its total market cap from over 7 million to just

Beercoin price has.crashed

Beercoin’s crash happened as many insiders dumped their tokens in a bid to take profits. This trend pushed more traders and investors to exit their positions.

The crash also coincided with the weak performance of Bitcoin and other altcoins. Bitcoin has moved below ,000 while LayerZero dumped by over 23% as predicted on Thursday. Other meme coins like Popcat, MOTHER, and DADDY have all crashed.

Still, some analysts believe that Beercoin has the potential to rebound now that it has become highly oversold. In a recent X (Tweet), Decu, who tracks meme coins predicted that it will ultimately bounce back.

History suggests that the token could rebound as investors buy the dip. For example, Pepe price initially jumped to .000004448 in May and then tumbled by over 82% by June. It then soared nearly 3,000% to a high of .00001725 in May. 

Similarly, Floki price soared to .000068 shortly after launch in 2022 and then crashed by almost 80%. It then rebounded by over 2,400% and reached an all-time high of .00034 this year. Most meme coins have experienced such drawdowns in their initial days.

BEER price chart

Potential catalysts for BEER price

Beercoin’s recovery will depend on the performance of other cryptocurrencies like Bitcoin, Ethereum, and Solana. In most cases, meme coins tend to do better than Bitcoin when cryptocurrencies are rallying.

There are two potential catalysts for cryptocurrencies this year. First, the Securities and Exchange Commission (SEC) has signaled that it will approve spot Ethereum ETFs this year, a move that could trigger a rebound.

Second, the Federal Reserve has hinted that it will start cutting interest rates this year. Crypto and other risky assets do well when the Fed is dovish. Already, the European Central Bank (ECB), Bank of Canada (BoC), and the Swiss National Bank have already slashed their rates and the BoE pointed to a cut in August

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Theo Crypto News

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Beercoin (BEER) price analysis as the number of holders surge

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Beercoin price is soaring while Bitcoin and major altcoins are dumping. The $BEER token soared to a record high of .000572 and is up more than 700% from its lowest point last week. This surge has brought its market cap to over 6 million, making it one of the top Solana meme coins.

Beercoin holders are growing

Beercoin, a recently launched Solana meme coin, is doing well as the number of holders jump. According to the developers, there are now over 40,000 holders and the number is growing by the day even as sentiment in the cryptocurrency industry weakens.

Beercoin’s token has also jumped as more centralised exchanges are listing the coin. It is now available at major platforms, including Bitget, Gate, ByBit, and MexC. In addition, it is available in decentralised exchanges (DEX) like Raydium and Jupiter. 

As a result, the daily volume of the $BEER token has jumped sharply in the past few days. Data by CoinGecko shows that the volume soared to over 3 million on Tuesday from million on Monday.

Beercoin has joined other Solana meme coins that have done well this year. Dogwifhat has seen its market cap jump to over .6 billion, making it the fourth-biggest meme coin in the world after Dogecoin, Shiba Inu, and Pepe.

Bonk, which was launched in December 2022, has a market cap of over .89 billion while Book of Meme (BOME) is valued at 2 million. Cat in a Dogs World and Popcat are the other fast-growing Solana meme coins. 

Developers are selecting Solana to launch their meme coins because of its superior speed and transaction costs compared to Ethereum. Its DEX networks like Raydium, Orca, and Jupiter have also gained substantial market share in the industry.

Beercoin, which describes itself as liquid gold, completed its token sale recently and raised millions of dollars from investors.

Beercoin price analysis

Beercoin price chart

The hourly chart shows that the BEER token price has been in a bull run in the past few days. It soared to a high of .000572, where it has struggled to move above since June 5th. It has also remained slightly above the 50-period moving average and the red ascending trendline.

Beercoin has also remained between the Woodie pivot point and the first resistance point. Therefore, the outlook for the token is neutral for now.

More upside will only be confirmed if the token crosses the important level at .000572. If this happens, the next point to watch will be at .0007, the first resistance of the Woodie pivot point. The alternative scenario is where it starts retreating as investors start to take profits.

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