A brand-new meme coin is making its way to the top of traders’ watchlist. WienerAI (WAI), a project that’s somehow managed to mash up the worlds of artificial intelligence and sausage dogs, has just hit the .5 million mark in presale. This success comes as both AI-related cryptos and meme coins continue to outperform the […]
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Brett Surges Almost 20% as New Base Chain Meme Coin DAWGZ Hits $2M in ICO
The Base blockchain continues to grow – with two joke tokens making headlines this week.
Brett (BRETT), Base’s largest meme coin, has surged almost 20% in the past 24 hours.
Hot on its tail, newcomer Base Dawgz (DAWGZ) is also causing a stir, having raised over million since its ICO went live at the beginning of the month.
BRETT Bounces Back – Is This Just the Beginning?
BRETT is turning heads with its recent price action.
After a period of uncertainty, BRETT has bounced back, currently trading at .155.
Earlier today, the token even touched .162 before pulling back slightly, showing that it still has the potential to explode.
All of this bullishness came after BRETT rejected the .130 support level.
However, despite this rejection, the momentum seems to be slowing – suggesting that the initial excitement might be cooling off.
Zooming out, BRETT is still stuck in a range on the higher timeframes.
The 4-hour chart also showcases the token’s indecision, with the price unable to decide whether it wants to stay above or below the 50-period exponential moving average (EMA).
Despite this indecision, there’s no denying traders’ interest.
Spot volumes are up 53% since yesterday, showing that traders are paying more attention to BRETT.
BRETT has even leapfrogged Book of Meme (BOME) in the market cap rankings.
Why Are Investors Flocking to Base Meme Coins?
It’s not just BRETT making waves on the Base blockchain.
The entire Base meme coin market is surging, with its total value rising 10% to over billion in the past day.
Trading volumes are also on the up – now at 0 million.
While BRETT, DEGEN, and TOSHI continue to dominate the conversation, newcomers are quickly making their mark.
BENJI, for instance, has been rocketing up the charts, proving there’s always room for new players.
But what’s driving the meme coin mania on Base?
For starters, Base’s layer-2 architecture offers much lower transaction fees than Ethereum’s mainnet.
This makes it an attractive playground for developers and traders looking to capitalize on the demand for meme coins.
Add to that Base’s growing user base – now at over 500,000 daily active users – and you’ve got a recipe for viral growth.
Base total value locked (TVL) has also rocketed to .5 billion.
These figures show why Base has become a breeding ground for meme coins in 2024.
Could Base Dawgz be the Next Big Base Meme Coin?
Alongside BRETT, another Base meme coin is making headlines this week.
Base Dawgz has just sailed past the million milestone in its ICO, showcasing the enormous interest from retail investors.
Importantly, the buzz around Base Dawgz isn’t just because of its ICO success.
Social media platforms are also red-hot with chatter about this meme coin, with the project’s Twitter page now at 4,000 followers.
Most of the excitement is about DAWGZ’s multi-chain capabilities.
Imagine buying DAWGZ tokens on Base, quickly transferring them to Ethereum to take advantage of a new DeFi opportunity, and then zipping over to Solana to trade.
This is what the Base Dawgz developers have in mind.
Adding to the buzz is the project’s Share-to-Earn protocol.
It’s turning meme-making into a lucrative hobby, with community members earning points for creating and sharing DAWGZ-related content.
These points can later be exchanged for DAWGZ tokens – creating a self-fulfilling hype cycle.
Base Dawgz’s whitepaper has also caught the eye of investors.
It outlines plans for DEX listings, marketing pushes, and mysterious “community rewards.”
Ultimately, as the Base ecosystem grows, meme coins like Base Dawgz are perfectly positioned to benefit.
Whether DAWGZ will be the next BRETT is anyone’s guess – but it’s certainly ticking all the right boxes.
Bearish Wave Hits Solana: SOL Drops Below $140 – More Losses On The Horizon?
Solana, a leading blockchain platform, is experiencing a significant downturn as a persistent bearish wave sweeps through its market. This decline, driven by a combination of factors, has led to SOL’s price suffering a huge drop below the 0 support mark.
Solana’s price has struggled to find stability, breaking through key support levels and signaling further potential losses. As bearish sentiment continues to dominate, traders and investors are closely monitoring the situation, seeking signs of a possible reversal or additional declines in the near future.
Technical Indicators Signal Further Losses For Solana
On the 4-hour chart, the price of SOL is beginning to decline again after a failed attempt to move upward. It should also be noted here that the digital asset is still actively bearish trading below the 100-day Simple Moving Average (SMA).
The 4-hour Relative Strength Index (RSI) also suggests that Solana may be poised for a further decline as the signal line of the RSI indicator is attempting a reversal below 50% dropping toward the oversold.
From the 1-day chart based on the current price movement, it can be observed that SOL is still actively bearish as it is still trading below the 100-day SMA. It can also be noticed here that it is attempting to start moving downward by dropping a rejection candlestick.
Also, the RSI indicator reveals that SOL’s price may likely decline further as the RSI line is actively trending below 50% heading toward the oversold zone. It is worth noting that from the analysis and technical indicators on both the 4-hour and 1-day chart, it can be suggested that the price of SOL may extend its decline for a while.
Potential Scenarios For SOL’s Price Movement
Presently, Solana has broken below the 0 mark and is attempting a downward move toward the 8 support level. If SOL’s price breaks this level, it will continue to move down to test the support level and may probably move on to test other lows if it breaches below this level.
However, if it fails to move downward as predicted and breaks above the 0 mark, it will start a move toward the 0 resistance level. Should it break above this resistance level, it will continue to move upward to test the 8 resistance level. Furthermore, Solana may witness a higher climb to test the 5 resistance level on the chart if it breaks the above support level and possibly heads on to create a new high.
The price of SOL has decreased by 0.57%, trading at about 3 in the last 24 hours, with a market capitalization of more than billion and a trading volume of more than .9 billion as of the time of writing. There has been a 12.94% increase in market capitalization in the last day despite the trading volume being down by 9.84%.
Toncoin Transfer Volume Hits $10 Billion, Social Appeal Soars
Toncoin, the brainchild of messaging app giant Telegram, is making waves in the cryptocurrency world. A recent report by CryptoQuant, a leading crypto analysis platform, has identified Toncoin as one of the fastest-growing blockchain networks. While established giants like Bitcoin reign supreme in daily transaction volume, TON’s growth metrics paint a compelling picture of a network poised for a breakout.
Transaction Velocity: A David-Vs-Goliath Story
While Bitcoin processes a staggering billion daily in transactions, TON’s daily volume sits between – billion. This, at first glance, might seem like a David-and-Goliath scenario. However, there’s a crucial detail to consider: TON is only four years old, a mere pup compared to Bitcoin’s seasoned presence. This rapid climb in transaction volume for such a young network suggests a growing appetite for TON’s capabilities, particularly for facilitating large transfers of digital assets.
On-chain metrics of $TON are going parabolic!
“The transfer volume ranges between .0B ~ .0B. For comparison, #Bitcoin‘s average daily transfer volume is around .0B. This indicates that #TON has already achieved between 10% Bitcoin’s capacity.” – By @JA_Maartun
Read… pic.twitter.com/56VjsAGOwL
— CryptoQuant.com (@cryptoquant_com) June 20, 2024
Crypto analysis reveals a tenfold increase in TON token holders over the past year, skyrocketing from 2.9 million to over 30 million. This surge in user adoption suggests a growing trust in the network and could potentially pave the way for a more robust and vibrant TON ecosystem. A larger user base translates to a wider pool of developer talent, increased opportunities for innovation, and ultimately, a stronger network effect that attracts even more users.
Messaging App Integration: A Catalyst For Crypto Adoption?
The unique advantage TON possesses lies in its connection to Telegram, one of the most popular messaging apps globally, boasting over 900 million users. This integration has the potential to be a game-changer for crypto adoption.
Challenges Ahead For Toncoin
However, there are still hurdles to overcome. The regulatory landscape surrounding cryptocurrencies remains complex, and TON will need to navigate these challenges to achieve mainstream adoption. Additionally, questions linger about the scalability of the TON network. Can it handle the massive influx of users that Telegram’s integration might bring?
Meanwhile, as TON boasts impressive growth in users and transaction volume, its token price hasn’t quite mirrored this enthusiasm. In the last 24 hours, TON has dipped 0.5%, and over the past week, it’s down 10.4%.
Featured image from California Business Journal, chart from TradingView
Fifth Day of Outflows Hits US Bitcoin ETFs With $139 Million in Losses
U.S. spot bitcoin exchange-traded funds (ETFs) experienced their fifth consecutive day of outflows on Thursday, losing 9.88 million. Grayscale’s Bitcoin Trust (GBTC) led the decline with a million reduction, followed closely by Fidelity’s (FBTC) million loss. U.S. Bitcoin ETFs Experience Sustained Outflows The 11 spot bitcoin ETFs reported .16 billion in trade volume […]
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CRV Price Hits $0.35, Rebounding 41% From Recent Low Post-Founder Crisis
Curve DAO’s (CRV) price increased over 10% early Wednesday, hitting .35 and marking a 41% increase from its low since a recent liquidation crisis involving its founder. On-chain data revealed significant accumulation of CRV by whales this week, with reports indicating a particular increase in purchasing during the post-liquidation price dip. This resurgence in CRV’s […]
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Toncoin (TON) Hits New ATH, Is $10 The Next Stop?
Toncoin (TON), the native token of The Open Network, has had one of the best performances this cycle. The token has hit a new all-time high (ATH) twice this Friday and flipped Ethereum’s active users this week. Market watchers believe this breakout and recent performance could set the stage for a rally toward the mark.
Toncoin Sets New All-Time High
Crypto analyst Ali Martinez recently said Toncoin was on the verge of a major breakout. The analyst highlighted the ascending triangle pattern on TON’s chart and suggested the token was gearing up for a 40% breakout above the price range.
On Thursday night, the token successfully tested the .7 resistance level, surpassing its all-time high of .76. TON continued its uptrend in the following hours, briefly breaking above the resistance level.
After setting its new ATH, Toncoin retraced below the mark. TON hovered between the .8 and .9 price range before restarting its rise to a second milestone in 24 hours.
On Friday, the Telegram-integrated token soared 5% to its new ATH of .15. This surge represents a 9% increase from the day before. Moreover, TON displays a 7.7% and 17.6% increase in the weekly and monthly timeframes.
The crypto community praised Toncoin’s performance, highlighting TON’s green numbers amid the market slowdown. GeckoTerminal shared the list of the top 10 cryptocurrencies by market capitalization. Among the assets, TON is currently the only token with a positive performance in the “last 7 days carnage.”
Is TON The New SOL?
Crypto analysts took notice of TON’s recent performance, with many believing that a double-digit target for the summer is possible. The bullish sentiment toward TON has made several analysts, including Martinez and Daan Crypto, set their next target for the token above the price range.
Altcoin Sherpa said the token remains one of the “strongest charts in crypto.” The analyst had previously stated that TON’s breakout was “just a matter of time.”
Similarly, some community members think Toncoin could be the new Solana (SOL). To some, the token’s performance resembles SOL’s in the previous cycle. Crypto trader ImNotTheWolf believes “TON will become the new SOL, in terms of gains potential.”
Another market watcher highlighted the token’s strength amid the market. WiseAnalyse suggested TON is “the only strong chart out there” because of its real-life use and adoption. As reported by NewsBTC, Toncoin recently surpassed Ethereum (ETH) in daily active addresses. This feat was attributed to its integration with Telegram and its 900 million user base.
Unchained weighed in on the matter, stating that The Open Network blockchain might be next Solana by “virtue of challenging historical smart contract leader, Ethereum.” The report highlights TON’s performance and the community’s optimism despite its gap with Solana:
While lagging behind Solana, TON’s daily active addresses have exceeded Ethereum’s figures every day except for one thus far in June. Some believe TON could close the distance in market cap with Solana.
PlayDoge Meme Coin Hits New Heights with $4.5M Presale Raise, Analyst Forecasts Big Gains
PlayDoge (PLAY) is cementing itself as one of the most anticipated new meme coin launches this year. The retro Play-to-Earn project has blown past the .5 million milestone in presale. And with that early backing, some analysts believe PLAY could be in line for sizable gains once listed on DEXs. ‘90s Nostalgia Fuels Early Demand […]
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Analyst Calls Buy Signal As Solana Hits Key Support At $141
According to data from CoinMarketCap, Solana (SOL) has been slightly positive in the last day, notching a market gain of 1.37%. This price increase, while little, is highly encouraging for investors considering Solana’s bearish form in the past week where it lost 8.11% of its market value. Interestingly, crypto analyst Ali Martinez postulates that SOL could sustain its current positive performance following the discovery of a buy signal.
Solana Hits Critical 1 Support, TD Sequential Hints At Price Surge
Via his X handle on Saturday, Ali Martinez noted that Solana had recently fallen to a key support level at the 1 price mark. According to the analyst, this decline resulted in the generation of a buy signal by the TD Sequential indicator.
#Solana has hit a key support level at 1, with the TD Sequential showing a buy signal on the $SOL daily chart! If this support holds, #SOL could rebound for one to four daily candlesticks. pic.twitter.com/AjQX8CGf1d
— Ali (@ali_charts) June 15, 2024
For context, the Tom DeMark Sequential indicator is a technical analysis tool used to identify potential turning points in the price of an asset. The primary goal of the TD Sequential is to anticipate market reversals and trends by counting a series of price bars.
Following Solana’s bearish form in the past week, Martinez states that the token’s price drop to 1 has signaled a potential trend reversal according to signals from TD Sequential. Martinez postulated that if the buy signal proves true and the 1 price mark holds as a solid support level, SOL could maintain a price rally for the next 1-4 days.
Interestingly, since hitting the specified support level, Solana climbed by over 3% to trade above the 5 price mark.
If SOL maintains the same level of price growth over the next four days, the altcoin is expected to attain a price mark of at least 8. However, a critical resistance lies at the 9 price zone. Sufficient selling pressure at this price may force SOL to resume its bearish trend.
SOL Price Overview
At press time, Solana trades at 5.16 after a 10.25% decline over the last month. However, the altcoin still remains one of the best-performing major cryptocurrencies in 2024 with a combined market gain of 43.5% all year.
Generally, Solana is tipped as one asset to look out for in the expected crypto bull run following its performance in the last bull cycle where it rose from around .5 to a peak price of 9.98. In addition, Solana boasts of a robust meme coin ecosystem valued at .46 billion which could also contribute to spurring the token’s price to new heights in the coming months.
Ghana’s Cedi Hits Record Low Against US Dollar Amid Cocoa Output Decline
The Ghanaian cedi recently plunged to a record low, trading at GHS 14.9335 against the U.S. dollar, which led to its designation as the fourth-worst-performing currency globally. Additionally, a decline in cocoa production has further complicated matters for the cedi, a currency previously ranked as the world’s worst-performing during the last quarter of 2022. Cedi […]
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