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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
Dogwifhat Unstoppable: Bullish Sentiment To Propel WIF Towards $6.7 – Analyst
Analysts anticipate that Dogwifhat (WIF), the meme coin with the adorably adorable canine mascot, will soar in value to a whopping .7.
Dogwifhat: Recent Performance Ignites Bullish Momentum
WIF has defied the odds in recent weeks, leaving its competitors in the doghouse. Over the past seven days alone, the price has shot up nearly 20%, and the past month has seen an even more remarkable 30% growth.
This upward trajectory has fueled optimism within the crypto community, with many investors wagging their tails in anticipation of further gains.
Breaking Through Key Barriers
Renowned crypto analyst Alex Clay isn’t shy about his bullish stance on WIF. According to Clay, the recent surge signifies a potential turning point for the meme coin.
WIF successfully breached a crucial resistance level, dubbed the “Key Zone” by Clay, after a strategic accumulation phase lasting 43 days. This breakthrough, Clay argues, suggests a shift in market sentiment and investor confidence.
$WIF broke above the Key Zone around .3 after 43 Days of Accumulation
Looking for a retest of the .4 Major Supply Zone and more upside if we do break out
Target: 6.7$#dogwifhat #wif pic.twitter.com/3yLks3ycBJ
— Alex Clay (@cryptclay) May 28, 2024
Clay envisions this newfound bullish momentum propelling WIF towards a “retest of the .4 Major Supply Zone.” Should WIF manage to conquer this resistance level, Clay boldly predicts a further ascent to a price target of a staggering .7.
Meme Coin Frenzy: A Word Of Caution
While Clay’s predictions paint a rosy picture for WIF, it’s important to remember the inherent volatility associated with meme coins. Unlike established cryptocurrencies with strong underlying utility, meme coins often rely heavily on hype and social media trends. This dependence can lead to unpredictable price swings, making them riskier investments compared to their more grounded counterparts.
At the time of writing, WIF was trading at .52, down 10% in the last 24 hours, data from CoinMarketCap shows.
WIF Price Prediction
Meanwhile, based on the current analysis, Dogwifhat appears to be in a bullish trend, with a predicted price increase of 230% to reach .37 by June 29, 2024. The technical indicators suggest a positive sentiment among investors, supported by a Fear & Greed Index reading of 73, indicating greed in the market.
Despite a moderate level of price volatility at 9.90% over the last 30 days, Dogwifhat has recorded 14 out of 30 green days, indicating intermittent but overall positive price movements. This suggests that investor confidence in Dogwifhat is growing, potentially driving further price gains in the near term.
Featured image from Pexels, chart from TradingView
Unstoppable Bitcoin? CryptoQuant’s CEO Foresees Bull Run Extending To 2025
According to Ki Young Ju, CEO of CryptoQuant, the Bitcoin current market dynamics suggest a bullish phase that could extend well into April 2025.
Ju’s analysis comes amid BTC’s current uptrend, which appears to be a continuation of that seen in March, when BTC achieved a new all-time high, surging above ,000 for the first time.
Bitcoin Market Cap Growth Indicates Prolonged Uptrend, Says CryptoQuant CEO
Notably, Ki Young Ju’s prediction stems from an analysis of Bitcoin’s market capitalization growth, which has been outpacing its realized capitalization — a measure of the market’s aggregate cost basis.
This trend is a classic indicator of a strong bullish cycle and has been a reliable harbinger of sustained upward momentum in past market cycles.
Ju’s analysis highlights that the market cap’s rapid growth compared to the realized cap suggests increased investor confidence and market momentum.
This pattern has historically signaled prolonged bullish phases. If the current trends persist, this cycle is expected to continue, leading to significant gains in Bitcoin’s value over the next year and a half.
#Bitcoin is in the middle of the bull cycle.
Its market cap is growing faster than its realized cap, a trend that typically lasts around two years.
If this pattern continues, the bull cycle might end by April 2025. pic.twitter.com/o4k8B1Rkhv
— Ki Young Ju (@ki_young_ju) May 17, 2024
Bitcoin has shown a positive trend, with a 1.9% increase in the past 24 hours and an over 12% rise in the past two weeks. At the time of writing, it is trading around ,201.
Institutional Adoption And Market Sentiments Underpin Bullish Outlook
The optimistic outlook for BTC is not just based on historical trends and market cap analysis. Recent developments in institutional adoption provide further support for this positive trajectory.
Anthony Scaramucci, the founder and managing partner of SkyBridge Capital and a notable Bitcoin advocate, recently discussed on CNBC’s Squawk Box how US pension funds are beginning to invest in BTC.
“When you do the homework on Bitcoin, you go towards Bitcoin…sometimes when you’re early you get some bumps and scrapes, but I think it pays to be early in Bitcoin and we are still early in Bitcoin,” says SkyBridge Capital’s Anthony Scaramucci. pic.twitter.com/HTfbwH5VJG
— Squawk Box (@SquawkCNBC) May 16, 2024
This move by institutional investors, such as the State of Wisconsin Investment Board’s approximately 0 million investment in BTC, signals a broader acceptance and integration of BTC into traditional financial portfolios.
Scaramucci emphasized that institutional BTC adoption is unfolding rapidly, and he anticipates more pension funds will pursue Bitcoin investments. He pointed out that regulatory approvals have opened the doors for large-scale institutional participation in BTC.
This endorsement will make Bitcoin a staple in these institutions’ long-term asset allocation strategies. According to Scaramucci, understanding Bitcoin and the history of money is key to recognizing its potential.
He remarked, Being early in Bitcoin is profitable, and “we are still early… sometimes when you’re early you get some bumps and scrapes.”
Featured image created with DALL·E, Chart from TradingView
Unstoppable Domains x Bitcoin․com Halving Campaign With .Bitcoin Domains
In celebration of the Bitcoin halving event, Unstoppable Domains partners with Bitcoin.com to offer personalized .bitcoin domain names, enhancing user experience with simplified cryptocurrency transactions within the Bitcoin.com Wallet app. Unstoppable Domains, a leading provider of blockchain-based domain names, together with Bitcoin.com, makers of the prominent Bitcoin.com Wallet App and Bitcoin.com News site, are thrilled […]
Bitcoin News
Lawmaker Highlights 2 Bills to Make US a Crypto Leader — Says Bitcoin Is ‘Unstoppable’
Congressman Patrick McHenry says bitcoin is unstoppable and every regime that’s tried to shut it down has failed. He emphasized that the U.S. must become a leader in digital assets, noting that two congressional bills offer a path toward clear regulations. Two Pieces of Legislation Could Provide Greater Clarity in Digital Assets Congressman Patrick McHenry […]
Bitcoin News
FA Hayek’s Foresight: Imagining Bitcoin’s Unstoppable Rise Through a ‘Sly, Roundabout Way’
In recent years, discussions have flourished around the visionary predictions of famed architect and systems theorist Buckminster Fuller, who is said to have anticipated a concept akin to Bitcoin. Similarly, industrial magnate Henry Ford is credited with imagining a novel energy currency with the potential to halt wars. Furthermore, Friedrich Hayek, a towering figure in […]
Bitcoin News
Bitcoin Price Seems Unstoppable As BTC Bulls Aim For $48K
Bitcoin price is holding gains above the ,000 resistance. BTC seems to be setting up for more gains above the ,000 level in the near term.
- Bitcoin extended its increase and traded close to the ,000 level.
- The price is trading above ,000 and the 100 hourly Simple moving average.
- There is a key bullish flag forming with resistance near ,300 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could start a fresh increase unless there is a correction wave below ,800.
Bitcoin Price Eyes More Upsides
Bitcoin price started a fresh increase above the ,000 and ,500 resistance levels. BTC even broke the ,000 level to move further into a bullish zone.
A new multi-week high was formed near ,900 and the price is now consolidating gains. There was a minor downside correction from the ,900 level. The price dipped below the ,500 level. It even tested the 23.6% Fib retracement level of the upward move from the ,300 swing low to the ,900 high.
Bitcoin is now trading above ,000 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the ,300 level. There is also a key bullish flag forming with resistance near ,300 on the hourly chart of the BTC/USD pair.
Source: BTCUSD on TradingView.com
The first major resistance is ,000. A close above the ,000 level could send the price further higher. The next major resistance sits at ,800. Any more gains above the ,800 level could open the doors for a move toward the ,000 level.
More Downsides In BTC?
If Bitcoin fails to rise above the ,300 resistance zone, it could start a downside correction. Immediate support on the downside is near the ,800 level.
The next major support is near ,000. If there is a move below ,000, there is a risk of more losses. In the stated case, the price could drop toward the ,600 support or the 50% Fib retracement level of the upward move from the ,300 swing low to the ,900 high in the near term.
Technical indicators:
Hourly MACD – The MACD is now losing pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.
Major Support Levels – ,800, followed by ,000.
Major Resistance Levels – ,300, ,000, and ,800.
XRP Hits $0.6 In Unstoppable Surge: How High Can It Go This November?
XRP, the native cryptocurrency of the Ripple network, reached a significant milestone as it soared to the crucial psychological level of .60, marking its highest value since the mid-August market crash.
In financial terms, psychological levels are key price points where traders and investors have historically shown heightened interest, often leading to increased buying or selling pressure.
Crossing this mark after a prolonged period of market volatility signals a potential shift in sentiment for XRP enthusiasts, who have eagerly awaited a resurgence in the coin’s value.
Related Reading: Solana Bull Run Could Smash Through Barrier This Week – Here’s How
XRP’s Remarkable Rebound
According to the latest data from CoinGecko, XRP was trading at .606379, reflecting a notable 2.7% gain over the past 24 hours. Over the course of the week, the digital asset witnessed an impressive seven-day rally of 9.2%, solidifying its upward trajectory and instilling confidence in the cryptocurrency market.
This upward momentum, while significant in itself, has also sparked a flurry of activity among XRP whales, who have long been regarded as influential players capable of shaping the market’s direction.
Recent data from the crypto analytics platform Whale Alert shed light on a substantial transaction involving a major XRP whale. The data revealed that an anonymous entity had transferred a staggering 412,890,441 XRP tokens, valued at approximately 8,922,341, from one wallet to another. Such large-scale movements by influential holders can often trigger a domino effect, leading to increased interest from smaller investors and, in turn, contributing to further price fluctuations.
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412,890,441 #XRP (248,922,341 USD) transferred from unknown wallet to unknown new wallethttps://t.co/FhYAxqGyXW
— Whale Alert (@whale_alert) November 1, 2023
Key Milestones And Challenges For XRP
In parallel to these developments, Ripple, the company behind XRP, published its comprehensive market report for the third quarter, highlighting several key achievements of the cryptocurrency during the period. Notably, the report indicated a significant uptick in the number of new wallets, recording a remarkable surge of nearly 12% to reach a total of 157,936.
Moreover, the document emphasized the robustness of the XRP trading volume, consistently surpassing the million mark throughout July and August, with certain days witnessing an impressive trading volume range of million to million.
However, amidst these positive indicators, the report also pointed to a slight downturn in the overall transaction count, registering a decrease of over 8% compared to the previous quarter. This decline, while not entirely alarming, underscores the need for continued market analysis and strategic measures to maintain a steady growth trajectory for XRP.
As Ripple and its native coin XRP continue to make significant strides, market observers remain vigilant, analyzing various factors that could impact the cryptocurrency’s trajectory in the coming months.
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).
Featured image from Freepik
Solana Smashes Above $40 In Seemingly Unstoppable Stampede
Solana, the now seventh-ranked cryptocurrency by market cap, thanks to a recent runaway performance, has surpassed the mark. Take a look at a close-up of the price action and see if the stampede by bulls is sustainable.
Say Goodbye To Single-Digit SOL Forever
Less than one year ago, Solana hit a low of under . Single-digit SOL proved to be too enticing for investors to pass up and it could potentially serve as a long-term bottom.
The altcoin fended off a fierce selloff in June this year, but held above double digits. The higher low instilled confidence in the market, possibly considering it a valid retest of support.
Price then pushed higher, but failed to breach resistance at . That is until about two weeks ago when the Ethereum-competitor took out the resistance level and has been on a tear since. As today, it smashed above and set an intraday high around .
The latest over 10% gains today cap off a nearly 100% rally in three weeks, and a full 400% off the lows. Anyone who was bold enough to buy SOL at under has now made more than 4x on their investment.
What’s Next For Solana After Smashing Above ?
Solana has now erased all bearish price action from the FX collapse and beyond. The latest rally touched price levels not seen since August 2022.
The altcoin broke out from a potential ascending triangle pattern three weeks ago and has climbed over 100% since. Objectives based on the measure rule of this pattern put the next target for SOL at around .
Above that level, it is possible that Solana could revisit former all-time highs above 0. This level was last reached in November 2021, a full two years ago.
Comparisons with Ethereum put SOL upwards closer to ,000 if it follows the same previous bull market pathways. Solana’s stand out crypto market performance could be partially responsible for Ether’s muted rally thus far. But with Solana possibly meeting more resistance at this level, prices could take a pause for the time being, prompting impatient profits to roll back into ETH and other altcoins.