Binance Coin (BNB) has reached a new all-time high (ATH) of 8 at the time of writing, following a 12% increase in price. BNB is the native cryptocurrency of the Binance platform, one of the largest and most popular cryptocurrency exchanges in the world. It was launched in July 2017 and is used for various […]
Bitcoin News
Notcoin Unstoppable! Token Soars Over 400%, Blazes New All-Time High
The cryptocurrency sector is witnessing a new gold rush, and this time, it’s happening on a messaging app. Notcoin (NOT), a Telegram-based token, has exploded in value over the past week, surging 400% and reaching its all-time high of .027. This astronomical rise has left analysts scrambling to understand the driving force behind this social media-fueled frenzy.
From Humble Beginnings To Meteoric Rise
Notcoin’s journey began modestly as an in-game currency for a Telegram clicker game launched in late 2023. Players could earn NOT tokens by tapping a virtual gold coin, a simple yet addictive mechanic that attracted a large user base within the popular messaging platform.
This initial success paved the way for a wider integration with Telegram in May 2024, allowing users to earn tokens through various “earning missions” and tasks. This play-to-earn model, coupled with the massive user base of Telegram, seems to be the key to Notcoin’s recent surge.
The token’s skyrocketing price has also been fueled by a significant jump in daily transaction volume. Notcoin now boasts a daily trade volume exceeding .5 billion, placing it among the top four most actively traded cryptocurrencies. This surge in activity indicates a growing interest from investors and potential new users eager to capitalize on the play-to-earn opportunities offered by Notcoin.
Whales And FOMO: A Recipe For Volatility?
While the Notcoin rally is undeniably impressive, whispers of caution linger within the crypto community. The cryptocurrency market is notorious for its volatility, and such rapid price increases often raise concerns about a potential bubble.
This is further amplified by reports from on-chain data provider Lookonchain. According to Lookonchain, a large investor (“whale”) profited significantly from the recent price surge. This whale reportedly purchased a substantial amount of wrapped Notcoin (wNOT) before the official listing of NOT.
The price of #Notcoin( $NOT) has risen by more than 400% in the past 7 days.
We noticed that a whale has an unrealized profit of 2K on $NOT.
He spent 50,550 $TON(8K) to buy 46.4B $wNOT before $NOT was listed.
1000 $wNOT can be exchanged for 1 $NOT.
On May 21, he… pic.twitter.com/Da29qniVzg
— Lookonchain (@lookonchain) June 3, 2024
Lookonchain highlights that upon listing, the whale converted their entire holding of wNOT into NOT, resulting in an unrealized profit of over 2,000. The whale’s sizable holdings and potential future actions could significantly impact the token’s price stability.
Another factor to consider is the fear of missing out (FOMO) currently driving the market. New investors, lured by the prospect of high returns, might be rushing into Notcoin without fully understanding the underlying technology or the risks involved. This could lead to a situation where the price becomes inflated beyond the token’s actual utility, setting the stage for a potential correction in the future.
The Road Ahead For Notcoin
Despite the inherent risks, Notcoin’s success highlights the growing potential of integrating cryptocurrency with established social media platforms. The ease of access and user-friendly experience offered by Notcoin’s play-to-earn model could be a blueprint for future blockchain integration within social media.
However, the platform’s long-term viability hinges on its ability to maintain a healthy user base and demonstrate the real-world value of the NOT token beyond its current gaming and task-based applications.
Featured image from VOI, chart from TradingView
UBS Raises Gold Price Targets, TRUMP Coin Hits All-Time High, and More — Week in Review
UBS has raised its gold price forecast from rising central bank demand and geopolitical tensions. Meanwhile, the meme coin TRUMP surged over 30% in 24 hours after former President Trump’s appearance at the Libertarian National Convention, marking a 98,352.40% increase over the last year. President Biden faces a deadline to veto or sign a resolution […]
Bitcoin News
Expert Charts 1,400% Course To $7.5 For XRP Price As RSI Falls To All-Time Low
Crypto analyst Egrag Crypto has provided another bullish narrative for the XRP price. This time, he outlined two scenarios that could occur and cause the crypto token to experience a breakout, potentially sending it as high as .5. This comes with the recent revelation that XRP’s Relative Strength Index (RSI) has reached its lowest ever.
Time For An XRP Price Breakout
Egrag Crypto shared a chart in an X (formerly Twitter) post that showed that the crypto token could rise to .5 when it accomplishes the breakout, which the crypto analyst claimed is imminent. Egrag highlighted a “White Triangle” breakout on the chart, which he stated is “aligning perfectly” with the previous charts and the Fib 0.702 to 0.786 levels.
He added that the measured move is projected to be between .2 and .5 before XRP could take off and climb to .5. Egrag further remarked that the “critical breakout point” for XRP is around .70 and .7’5 and that the crypto token is “poised” to achieve this breakout in the “next couple of weeks.
Egrag warned that XRP could still experience significant declines before then, stating that a retest of the breakout might be on the cards. However, he is convinced that a “MEGA RUN for XRP is on the horizon.”
Meanwhile, for the second scenario of how XRP could achieve its impending breakout, Egrag Crypto highlighted an ‘Atlas Line’ on the XRP chart and claimed that the breakout point for XRP is at .6799. He noted that XRP is still holding strong “like a boss” on the atlas line, suggesting it shouldn’t be long before it breaks above .6799.
In the meantime, .5777 and .5000 are key price levels that XRP holders should monitor. Egrag labels them resistance and support levels for XRP’s upward trend along this atlas line.
XRP Hits Its Lowest RSI In History
Egrag revealed in a more recent X post that XRP’s RSI is at its lowest ever. He noted that this assertion was based on the monthly time frame and shared a chart to prove his claim. Following his revelation, Egrag highlighted how bullish this was for XRP, stating, “If this isn’t a positive signal, I don’t know what is.”
The chart he shared showed that XRP’s Relative Strength Index is at 38, which is indeed bullish for the crypto token. Low RSI levels are considered a buy signal since they suggest that the coin is oversold and undervalued. Therefore, crypto investors might be looking to accumulate XRP, with these buy orders expected to trigger a move to the upside for the crypto token.
At the time of writing, XRP is trading at around .52, up almost 1% in the last 24 hours, according to data from CoinMarketCap.
TRUMP Coin Reaches All-Time High as Trump-Themed Cryptos See Major Gains
The presidential meme coin fervor persists, with the token maga (TRUMP) hitting an all-time high of .45 on Wednesday. This surge elevated the value of Donald Trump’s TRUMP coins to .06 million on May 29. Additionally, various Trump-related crypto assets are emerging from the woodwork, including one leveraging Bitcoin’s Runes protocol for minting. Trump-Themed Meme […]
Bitcoin News
Ethereum Futures Open Interest Hits All-Time High Following ETF Approvals
Ethereum has experienced a significant increase since the U.S. Securities and Exchange Commission (SEC) approved a group of spot ether exchange-traded funds (ETFs). This week, ether reached a high of ,980 per coin, which is approximately 18.4% below its all-time high. Amid fluctuating prices, ethereum futures markets have achieved a record high in open interest. […]
Bitcoin News
Ethereum Shifts Gears: Breaks Key Resistance, New All-Time Highs Next
Ethereum (ETH) is currently at the forefront of an impending market surge, as indicated by a significant technical breakout. According to crypto analyst Jelle, Ethereum has recently emerged from a bearish pattern particularly breaking out from the “falling wedge” and flipping key resistance into support zones.
Jelle reveals that Ethereum is currently pushing for the ,000 mark which makes the possibility of reaching new heights seems more tangible. This movement marks a significant turnaround from previous trends, setting the stage for potentially record-breaking price levels.
The Bullish Shift: Ethereum Breakout from a Falling Wedge Explained
Jelle’s recent observations come during a period of strong performance for Ethereum, with the cryptocurrency showing a 30% increase in value over the past week alone.
Ethereum stands at ,951 at the time of writing, having climbed an additional 2.5% in just 24 hours. This notable uptrend underscores the growing investor confidence and market momentum that could drive Ethereum’s value to new records.
Notably, a falling wedge pattern in technical analysis is a signal that often precedes a bullish market reversal. Characterized by converging trend lines that meet at a downward slope, this pattern typically concludes with a breakout to the upside as buying pressure overcomes selling momentum.
$ETH broke out from the falling wedge, then flipped key areas into support & now pushes for ,000.
New highs, and new all-time highs are next.
Higher. pic.twitter.com/pjrk8X2FYA
— Jelle (@CryptoJelleNL) May 27, 2024
Ethereum’s recent breakout from this pattern signifies a potential reversal of its prior downtrend and transforms previous resistance levels into new supports, laying a foundational bullish sentiment.
This technical progression is critical as it indicates a shift from bearish to bullish sentiment, suggesting that Ethereum might recover from its previous lows and embark on a sustained upward trajectory.
Analysts like Jelle see this as a precursor to more aggressive buying behavior, potentially propelling the asset toward unprecedented price levels.
Broader Market Sentiments And Predictions
The positive outlook for Ethereum isn’t isolated. Notable crypto analyst Defi Mochi predicts that the ETH price could soar to between ,500 and ,000.
According to Mochi, this projection is based on a combination of factors, including increasing political support for cryptocurrencies and the fact that Bitcoin has yet to reclaim its all-time high.
With that said my realistic target for $ETH is approximately in the .5k to k range.
Given
◆ increased political support for crypto
◆$BTC being barely at previous ATHs
◆ increased adoption of $ETH by institutionsI Think none of us are bullish enough on Ultrasound Money.
— Defi_Mochi (@defi_mochi) May 26, 2024
Institutional investors’ adoption of Ethereum is also a critical factor in the prediction. As more institutions integrate ETH into their portfolios, their market dynamics are expected to stabilize further, attracting more significant investment flows.
Arthur, the founder of DeFiance Capital, aligns with this bullish sentiment, forecasting that Ethereum could reach ,500 shortly.
Featured image created with DALL·E, Chart from TradingView
TRUMP Coin Taps All-Time High, Up Over 30% in 24 Hours Post-Convention
Following former President Donald Trump’s appearance at the Libertarian National Convention, the meme coin associated with his name, maga (TRUMP), has soared more than 30% in the past day. Current statistics show that the meme coin TRUMP is the top-performing cryptocurrency over the last 12 months, boasting a 98,352.40% increase. TRUMP Meme Coin Skyrockets Post-Libertarian […]
Bitcoin News
Ethereum Undergoes Major Breakout, Path To New All-Time High?
Ethereum has yet to witness a move on the upside today, following the historic approval of the ETH Spot Exchange-Traded Funds (ETFs). However, given the impact of the exchange funds, as seen with Bitcoin, several crypto analysts and market watchers anticipate a major rally for ETH in the upcoming months.
Joining the fray is popular cryptocurrency expert and trader Javon Marks, who has spotlighted a noteworthy breakout in the price action of Ethereum, speculating that the development may trigger a notable rally for the crypto asset.
Ethereum Breakout Signal New All-Time Highs
Marks’s prediction emphasizes the possibility that ETH could reach unprecedented price levels after the emergence of several distinct Bullish Metrics. He noted that shortly after exhibiting multiple distinct bullish metrics, ETH’s prices confirmed a major breakout. Due to this, a significant move in the upward trajectory could be underway.
Earlier this month, Marks pointed out about four bullish metrics in the price of Ethereum. These include a Bull Flag-like price structure, Higher Lows in price action, Lower Lows in the Relative Strength Index (RSI), and Larger Upside price breakout to the ,811 price mark.
Sharing insights on the Bull Flag-like pattern, Javon Marks claims a breakout could result in new all-time highs for ETH, and for the benefit of many Altcoins. However, a few days later, the analyst reported that Ethereum was getting close to the Bull Flag pattern’s breakout levels. Should a successful breakout take place, it will only kickstart the next stage of substantial growth.
Specifically, in the event of a breakout, the price of ETH might rise by about +50% from the level then, to ,811. Furthermore, it might potentially result in prices topping at ,000 and setting new peaks.
Meanwhile, less than 2 hours later the expert confirms the asset has broken out of the pattern at lightspeed and is surging in the upward direction. Thus following this breakout, ETH’s prices may be poised for another 23.4% from the current level to the aforementioned price targets, while suggesting that further growth could be on the horizon.
ETH Sees Bearish Movement
Currently, the digital asset is seeing a bearish movement after failing to break above the ,000 mark once again. Even though the entire crypto market is experiencing a bearish momentum, a good recovery is still expected to happen soon.
Despite the approval of ETH spot ETFs, the coin has recorded a decline of over 5% in the last 24 hours. However, in the past week, ETH has amassed gains of more than 20%, showing resilience to attract more.
Its market capitalization has decreased by over 5% in the past day to 5.95 billion. Meanwhile, its trading volume is valued at .29 billion, indicating a more than 65% increase in the past day.
Standard Chartered Predicts Bitcoin Could Hit All-Time High This Weekend
Standard Chartered’s head of digital asset research, Geoff Kendrick, has predicted a significant rise in bitcoin’s price, potentially surpassing its previous all-time high of ,798 by this weekend. His optimistic outlook is fueled by the anticipated approval of spot ether exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC), which he believes will […]
Bitcoin News