On May 22, Bitcoin aimed to turn the $69,000 mark into a support level, causing concern among analysts as prices pulled back from local highs.
Data from Cointelegraph Markets Pro and TradingView revealed weakening Bitcoin price action, resulting in two tests of the previous all-time highs from 2021.
At the time of writing, Bitcoin remained above $69,000, a crucial threshold for many.
“Support at $69k needs to hold to have a chance to validate an R/S flip at the prior ATH,” stated trading resource Material Indicators on X.
This referred to a potential resistance/support flip at $69,000.
However, Material Indicators also warned that one of its proprietary trading tools was signaling a “clear” downtrend on daily timeframes, adding, “For me, a move above $71.5k would invalidate.”
Other analysts shared similar concerns about the increasing risk of rejection, potentially thwarting Bitcoin bulls’ efforts to overcome resistance.
John Bollinger, creator of the Bollinger Bands volatility indicator, expressed his apprehensions, noting, “I am not fond of the two-bar reversal at the upper Bollinger Band for $btcusd. Suggests a consol or a pullback. Not bearish here, just short-term concerned.”
READ MORE: Pyth Price Feeds Launches on Orange – A UGC-Focused L1 Blockchain
As previously reported by Cointelegraph, some traders, including Credible Crypto, had already predicted a broader Bitcoin price retracement.
“Credible Crypto has been one of the most vocal advocates for a return towards $60,000 or lower, with a recent chart on X indicating likely support below the starting point of an “impulsive move.”
The week’s decision on United States spot Ether exchange-traded funds (ETFs) was also pivotal for Bitcoin targets, according to Filbfilb, co-founder of trading suite DecenTrader.
Updating X followers, Filbfilb suggested that an ETF rejection by regulators would only reset the market to its position before the recent impulse.
He concluded, “If ETH ETF is rejected then simply reset to where we were last week.” Conversely, a positive ETF decision could propel Bitcoin into price discovery and potentially reach $80,000.
On May 21, ETH/BTC reached its highest levels since mid-March.
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Pepe Fuks Biden (PEPEFBID) could become a viral memecoin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Pepe Fuks Biden (PEPEFBID), a Solana memecoin that was launched today, is aiming to challenge other memecoin giants, such as Shiba Inu (SHIB) and Dogecoin (DOGE).
Early investors in SHIB and DOGE made astronomical returns, and Pepe Fuks Biden presents a similar opportunity.
Pepe Fuks Biden has a market cap below $15,000 at the moment, meaning that when it just reaches a modest market cap of $400,000-$800,000, early investors would generate returns of 2,000%-5,000% in a matter of days or hours.
The exciting memecoin is poised to rally 11,000% in the coming two days, and Pepe Fuks Biden could potentially reach a multi-million dollar market cap within a few weeks.
Currently, Pepe Fuks Biden can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy Pepe Fuks Biden on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Pepe Fuks Biden by entering its contract address – 4D3CzRs6n4hPrHJsqon5oDVKRe8nhaiBL1mQGowzhPvg – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like PEPEFBID.
Sushi has partnered with GoPlus Security to enhance its user security through the integration of the Token Security API. This collaboration is aimed at protecting Sushi users from the risks of honeypots and scam tokens, significantly boosting the safety features of the platform.
By incorporating the GoPlus Security’s API, Sushi can now proactively screen and evaluate the risk associated with new tokens. This early detection system helps in identifying malicious tokens, such as honeypots and scams, thereby enhancing the safety of transactions on the platform.
GoPlus Security, known for its in-depth security analyses of ERC20 tokens across multiple networks, provides the Token Security API which performs extensive risk assessments and transaction security evaluations. This ensures that any potential threats are quickly identified and addressed.
Each token listed on Sushi undergoes a rigorous security check that includes a detailed analysis, transaction verification, and risk evaluation to ensure that only secure tokens are traded. If a token is found to be risky, Sushi promptly alerts its users through immediate popup warnings, aiding them in making safer investment decisions and steering clear of potential scams like rug pulls.
This partnership underscores Sushi’s commitment to prioritizing user safety. By leveraging GoPlus Security’s advanced technologies, Sushi actively protects its users against the growing threats in the cryptocurrency landscape.
Sushi continues to evolve its security measures, and this partnership with GoPlus Security represents one of the many initiatives taken to maintain a secure trading environment. Users can look forward to ongoing improvements and updates aimed at enhancing their safety and security on the platform.
Eskil Tsu, Co-Founder of GoPlus, highlighted the importance of the partnership, stating, “Sushi is setting a groundbreaking example for the industry by integrating our Token Security API. There’ll be 100x more malicious actors in the future. By proactively identifying and mitigating crypto scams together, we are not only safeguarding users’ investments but also reinforcing trust and security within the crypto community.”
Jared Grey, Head Chef of Sushi, emphasized the value of this collaboration, saying, “At Sushi, we’re all about giving you the best DEXperience, and keeping our users safe is a big part of that. By teaming up with GoPlus Security to flag honeypot and scam tokens, we’re addressing one of the biggest concerns for newcomers—security. This partnership not only enhances our product offerings but also shows how DeFi protocols can work together to make the space safer and more awesome for everyone—another great DeFi Lego best practice in action.”
Pepe 69 (PEPE69) could become a viral memecoin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Pepe 69 (PEPE69), a Solana memecoin that was launched today, is aiming to challenge other memecoin giants, such as Shiba Inu (SHIB) and Dogecoin (DOGE).
Early investors in SHIB and DOGE made astronomical returns, and Pepe 69 presents a similar opportunity.
Pepe 69 has a market cap below $15,000 at the moment, meaning that when it just reaches a modest market cap of $400,000-$800,000, early investors would generate returns of 2,000%-5,000% in a matter of days or hours.
The exciting memecoin is poised to rally 11,000% in the coming two days, and Pepe 69 could potentially reach a multi-million dollar market cap within a few weeks.
Currently, Pepe 69 can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy Pepe 69 on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Pepe 69 by entering its contract address – EvevUFVUUFR2NZVSkVzRTj1SQ6KRKdsZqdkpWinkh8m1 – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like PEPE69.
A wave of excitement has swept the crypto market, pushing Solana’s price past $180 for the first time in over a month.
As Solana gains momentum, all eyes are on the new penguin-themed meme coin, Penguiana ($PENGU), which is quickly gaining traction and could be the next big hit in the Solana ecosystem.
SOL Price Booms as Ecosystem Heats Up
Solana’s recent performance has been stellar among large-cap cryptos, driven by growing interest in its ecosystem. Currently trading at $182, Solana is up 2.6% today, 26% this week, and 20.5% this month.
With a market cap of $81 billion and a 24-hour trading volume of $4.9 billion, Solana’s rise has been fueled by increased activity within its ecosystem.
Penguiana Presale Raises Over 2000 SOL, Announces GUIANA NFTs
Amid Solana’s bullish trend, Penguiana has raised over 2000 SOL in its ongoing presale, with more than 10 days remaining. This impressive milestone underscores the growing interest in Penguiana, driven by its unique blend of meme culture and real utility.
The project’s innovative presale strategies, engaging themes, and the promise of a play-to-earn game have set it apart from other projects.
Introducing Penguiana: More Than Just a Memecoin
Penguiana is not just another meme coin; it aims to establish a vibrant ecosystem around its adorable penguin brand. Next month, Penguiana will release a demo of its play-to-earn game, adding significant value to $PENGU tokens. Later this year, the full game will launch, offering players the opportunity to earn rewards and enjoy a unique gaming experience.
Penguiana Tokenomics
Total Supply: 100,000,000 $PENGU tokens
Presale Supply: 60% (60 million tokens) allocated for the presale
Liquidity: 25% (25 million tokens) set aside for liquidity provision
Marketing: 15% (15 million tokens) allocated for marketing and community activities
PENGU Tokens: Unlocking Utility
$PENGU is the cornerstone of Penguiana’s ecosystem. With a capped supply of 100 million tokens, 60 million are set aside for the presale. These tokens are crucial for the play-to-earn game, where players will use $PENGU to mint their characters and participate in the game.
Additionally, the $PENGU token is undergoing an audit with Vitalblock, enhancing investor confidence by ensuring security and resilience against hacks.
Announcing GUIANA NFTs
The Penguiana team is thrilled to announce the upcoming release of GUIANA NFTs.
These NFTs will give holders the ability to play the game and earn in-game rewards. GUIANA NFTs will be minted using $PENGU tokens, adding another layer of utility and value to the token.
How to Participate in the Penguiana Presale
Here is a simple guide to joining the Penguiana presale:
Set Up a Wallet: Use a Solana-compatible wallet like Phantom, Solflare, or Sollet to securely store your $SOL and receive your $PENGU tokens.
Buy Some SOL: Purchase SOL from reputable exchanges such as Binance, Coinbase, or Kucoin. Transfer the SOL to your personal wallet.
Join the Presale: Visit the official Penguiana presale page at https://penguiana.com. Follow the instructions to send your SOL and purchase $PENGU tokens.
Check and Transfer: Double-check the wallet address on the presale page for accuracy. Send your SOL to complete the purchase. After the presale, $PENGU tokens will be airdropped to your wallet.
For a detailed guide on buying $PENGU tokens, visit https://docs.penguiana.com.
You can keep track of the latest news and announcements within the Penguiana community by joining the Telegram & Discord communities.
Why Join Penguiana’s Presale?
Joining the Penguiana presale offers the chance to buy tokens at a discounted rate before they are listed on Raydium at a 50% higher price.
This is an exciting opportunity to be part of an innovative play-to-earn platform as it gains momentum.
With the game’s demo releasing next month and the full game launching later this year, the value of $PENGU tokens is expected to rise significantly.
Stay Connected with Penguiana
Stay updated and join the Penguiana community:
Website: https://penguiana.com
Twitter: https://twitter.com/penguianaonsol
Telegram: https://t.me/penguiana
Early investors in memecoins like Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) made astronomical returns, and Biden in a Dogs World (BIDDOG) presents a similar opportunity for a limited time.
Biden in a Dogs World (BIDDOG), a newly launched Solana memecoin, is poised to explode over 14,000% in a matter of days, as former Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) investors pour funds into this new token.
BIDDOG will be listed on KuCoin, one of the largest centralized exchanges in the world, within a few days – and this is a massively bullish development for the token, as millions of new investors will easily be able to buy Biden in a Dogs World.
Currently, Biden in a Dogs World can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy BIDDOG on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Biden in a Dogs World by entering its contract address – bUv1o6DFK5Wa7V1SY2HoFTUmaZSQ58eKqk5rKxvWuZr – in the receiving field.
BIDDOG currently has a market cap of just under $13,000, with over $4,000 in locked liquidity, meaning it has huge upside potential.
Early investors could make returns similar to those who invested in Shiba Inu (SHIB), Dogecoin (DOGE) and Bonk (BONK) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
Geoffrey Hinton, a prominent figure in artificial intelligence (AI) often dubbed the “Godfather of AI,” recently advised the United Kingdom’s government at Downing Street to consider adopting a universal basic income (UBI) to mitigate the anticipated job losses due to AI advancements.
Until recently, Hinton was employed at Google, working on sophisticated AI features for neural networks.
These networks form the backbone of modern generative AI systems like Google’s Gemini and OpenAI’s ChatGPT.
Hinton asserts that the AI revolution will disproportionately benefit the wealthy.
He warned that common workers and those in automatable jobs will likely lose their livelihoods, which he believes “is going to be bad for society,” as he explained in a recent BBC interview.
“I was consulted by people in Downing Street,” Hinton stated, “and I advised them that universal basic income was a good idea.”
Hinton is not alone in this belief. Sam Altman, co-founder of OpenAI and a former student of Hinton, is also a strong advocate for UBI.
Altman, who helped pioneer neural networks, is now known for his leadership at OpenAI and his vocal support for UBI.
Altman’s venture, Worldcoin, aims to provide UBI through a cryptocurrency token, given free to those who enroll and complete a retinal scan for identity verification.
READ MORE: Crypto Personality Thomas John Sfraga Pleads Guilty to $1.3 Million Ponzi Scheme
Both Hinton and Altman believe that UBI is crucial to counter the economic disruption caused by automation.
Additionally, they have expressed concerns about AI posing an existential threat to humanity.
Hinton left Google to openly discuss his apprehensions about AI’s future impact on society.
Altman, on the other hand, claims that his primary motivation for co-founding OpenAI with Elon Musk and others was to ensure that advanced AI systems are developed responsibly and beneficially for humanity.
In his BBC interview, Hinton emphasized the urgency of addressing these issues, predicting that within five to 20 years, there’s a significant chance that society will face the challenge of AI attempting to assert control.
“My guess is in between five and 20 years from now there’s a probability of half that we’ll have to confront the problem of AI trying to take over.”
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Phantom Wallet has achieved the third position in the utility category on the Apple App Store, trailing only behind Google and Google Chrome.
This surge has ignited speculation among crypto enthusiasts that it could be a bullish signal for Solana’s token, as Phantom Wallet originally launched exclusively as a Solana wallet.
“Seems like the SOL season is going to be Big! What SOL coins shall I buy?” crypto entrepreneur Evan Luthra asked his 413,900 X followers on May 19.
“Phantom wallet is the 3rd top utilities app I’m so bullish on crypto and Solana,” added crypto influencer Borovik.
This comes after Phantom Wallet reached seven million monthly active users, according to an April 29 post on X.
The crypto community often views a rise in any crypto wallet’s monthly users as a sign of broader adoption.
In the overall Apple App Store, Phantom Wallet now holds the 32nd spot across all categories, behind X and the AI chatbot, ChatGPT.
Initially a Solana-only wallet, Phantom has expanded its support to include Bitcoin, Ethereum, and Polygon blockchains as well.
As of this publication, Solana is trading at $174.11, marking a 25.13% increase over the past 30 days, according to CoinMarketCap.
READ MORE: Australian Man Pleads Guilty to Promoting BitConnect
Crypto trader Shear suggests that if Coinbase — currently ranked 288th — and Phantom Wallet both reach the top 10 on the Apple App Store, it could indicate a market peak.
“These are my favorite indicators, I will be selling everything when they are both top 10,” Shear stated in a May 18 post.
An app’s ranking on the App Store depends on various factors, not just download numbers.
Despite MetaMask holding the 75th position in the same category, it reported 10 million monthly active users as of February 2024.
Rankings also consider factors such as monthly uninstalls, in-app transactions, and user sentiment in reviews.
Phantom Wallet, being a self-custodial wallet, allows users to maintain control over their keys.
This feature offers an alternative to storing assets on exchanges, a shift potentially driven by the high-profile collapse of the crypto exchange FTX in November 2022, prompting users to seek more secure storage options for their crypto assets.
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The conviction of Alexey Pertsev, a developer of the coin-mixing protocol Tornado Cash, highlights a chilling interpretation of criminal liability with far-reaching implications for the crypto world.
Pertsev has been sentenced by a Dutch court to five years and four months for money laundering via Tornado Cash, despite not directly engaging in the laundering activities.
Andrew Balthazor, a litigator with Holland and Knight, explained the implications of the verdict to Cointelegraph.
He stated, “Mr. Pertsev’s conviction reinforces the views of several governments that software developers who make their software available to the public will be held liable for the foreseeable consequences of the public’s use of that software.”
Balthazor elaborated that under this theory of liability, developers cannot claim ignorance of specific criminal acts or point to the software’s limitations in preventing misuse.
He emphasized that it is the developer’s responsibility to create mechanisms to reduce or prevent foreseeable criminal use of their software.
When asked if this view included the U.S., Balthazor confirmed that it did, as shown by the Department of Justice’s indictments against Tornado Cash.
This interpretation contrasts sharply with traditional views of liability.
Natalia Latka, director of public policy and regulatory affairs at Merkle Science, noted how the perception of developers has evolved.
Historically, developers were seen as neutral creators, responsible for the functionality of their tools but not their misuse.
However, this perspective has shifted, especially with decentralized networks challenging traditional regulations.
Latka stated that developers must now consider the legal implications and potential misuse of their creations.
READ MORE: Bitcoin Eyes New Highs as Analysts Spot Imminent Golden Cross on Lower Timeframes
The crypto community quickly recognized the significance of Pertsev’s trial.
Eléonore Blanc, founder of CryptoCanal, discussed the trial’s implications on social media, suggesting that “Tornado Cash” could easily be replaced with any cryptocurrency.
She expressed concern that the court systematically disregarded the defense’s arguments, potentially setting a precedent for broader applications in the crypto industry.
Blanc further personalized the ruling, stating, “As crypto builders, we are all Alexey. We keep fighting for him, his legacy and the cypherpunk values.”
The ruling poses risks to privacy, immutability, and decentralization.
Balthazor argued that immutable smart contracts could become highly risky for developers, suggesting that publicly available programs might need to be amendable to comply with law enforcement or regulatory requirements.
Natalia Latka emphasized that “compliance by design” will become crucial for developers, integrating regulatory compliance from the outset.
Courts will scrutinize whether developers knowingly created tools for illegal purposes or were negligent, with intent or negligence significantly impacting legal outcomes.
Ultimately, if developers must sacrifice privacy, immutability, and decentralization for compliance, the core values of blockchain technology could be fundamentally compromised.
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A former employee of memecoin creation and trading platform pump.fun, alleged to have carried out a recent $1.9 million exploit, claims he was arrested and is now on bail in the United Kingdom.
On May 16, the X user “STACCoverflow,” who revealed his identity as Jarett Dunn, took responsibility for the attack.
Pump.fun alleges Dunn exploited a “privileged position” to access a “withdraw authority,” compromising the protocol’s systems.
In a series of posts on a different X account on May 18, Dunn claimed he “spent overnight in custody” and was charged with “theft from employer” for $2 million and conspiracy to steal an additional $80 million.
He added he was “released on bail and mental health sectioned.”
Dunn stated he is currently in a hospital, posting from an iPad provided to him.
He mentioned his mental health “was taken into question,” making him likely “unfit for [police] interview.”
This interview may occur after his bail if he is deemed fit for questioning.
A Canadian national, Dunn said the local embassy emailed his family “a list of lawyers,” but he is “not able to communicate with them” until he retrieves his devices, of which “2/5 are seized.”
READ MORE: Notorious Crypto Drainer Pink Drainer Retires After Stealing Over $85 Million
He mentioned he still has his passport and was not informed that he could not leave the country.
In a message to another X user, The Rollup, Dunn reportedly said he must return to a police station on August 15. The account also claims a private intelligence company was hired to locate Dunn in London.
In another X post, Dunn urged U.K. citizens to file charges against a locally-based company he claimed was a pump.fun entity.
He said his bail conditions prohibit him from communicating with the firm and its CEO.
Pump.fun did not respond to a request for comment.
The private intelligence firm allegedly involved in locating Dunn did not immediately respond to a request for comment.
London’s Metropolitan Police Service told Cointelegraph it does not name people who may or may not have been arrested.
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