On April 9, the buzz surrounding Bitcoin‘s weekly performance dimmed as its value dropped below $70,000.
Insights from Cointelegraph Markets Pro and TradingView highlighted a decline in Bitcoin’s price before the opening of Wall Street, hitting a low of $69,635 on Bitstamp, a 4.3% decrease from the day before.
This dip mirrored a hesitancy in the market’s short-term outlook.
The start of the week on Wall Street didn’t meet the expectations of Bitcoin enthusiasts. U.S.-based spot Bitcoin ETFs saw minimal capital inflow, and with a significant $300 million withdrawal from the Grayscale Bitcoin Trust (GBTC), the day ended in substantial net outflows.
Data from the UK investment company Farside indicated these outflows surpassed $200 million.
Analyst Mark Cullen highlighted the unusual market activity, noting the negative ETF flows despite Bitcoin’s previous gains.
Despite the day’s downturn, major ETFs like BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity Investments’ Wise Origin Bitcoin Fund (FBTC) managed to continue their streak of inflows.
READ MORE: Crypto Exchange Insurance Funds Swell by Over $1 Billion Amid Market Surge
Market observers had anticipated a positive turn in net flows following Genesis, a bankrupt cryptocurrency lender, announcing it had sold off billions in GBTC shares to purchase Bitcoin.
Commentator WhalePanda pointed out the day’s sluggish ETF activity, speculating on various factors including potential profit-taking and the upcoming U.S. tax deadline on April 15.
Amid these market movements, traders maintained their Bitcoin price targets. Crypto Ed, aiming for an $80,000 Bitcoin value, adjusted his immediate goal to $73,000 for continued growth.
Other traders like Jelle and a subsequent post proposed a breakout target of $82,000, suggesting a rebound to new highs if Bitcoin holds above $71,400.
Conversely, Credible Crypto expressed caution, predicting a possible dip to $60,000 or lower, consistent with his earlier analyses of market correction expectations.
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On Monday, the cryptocurrency market saw a notable surge led by Bitcoin’s recovery to $72,000, boosting the memecoin sector, including Dogecoin (DOGE), Shiba Inu (SHIB), Pepe Coin (PEPE), and Bonk.
These assets demonstrated significant gains, underscoring heightened investor interest amid the market’s uptrend.
Pepe Coin, in particular, has exhibited a sideways trading pattern for over a month, aligning with the bullish pennant pattern’s converging trendlines.
This setup, occurring above the 50% retracement level, suggests a robust retracement, enabling buyers to reclaim control of the asset.
On April 5th, Pepe Coin’s price rebounded from the pattern’s support trendline, climbing 20% to reach $0.0000076.
Should the market maintain its bullish momentum, the coin’s value could see an additional 8% increase, aiming for the overhead trendline at $0.0000082.
A successful breach of the pennant pattern would indicate a buyer’s market, potentially extending the recovery trend towards the initial target of $0.0000108, with further aspirations reaching $0.000013 and potentially $0.0000167.
Conversely, a drop below the lower support trendline could escalate selling pressure, potentially driving the Pepe Coin price down to $0.00000313, exacerbating the ongoing correction.
The Moving Average Convergence Divergence (MACD) analysis reveals that the MACD (blue) and Signal (orange) lines moving flat above the midline typically signal a beneficial pullback for buyers, offering them an opportunity to gather strength.
This indicator, along with the overall market’s bullish trend and Pepe Coin’s specific pattern dynamics, paints a complex picture of potential growth tempered by cautionary notes regarding possible downturns.
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Many investors made millions of dollars by investing in dog-themed coins like Shiba Inu (SHIB) and Dogecoin (DOGE) while their market caps were very low.
Kitty Queen Coin (KITQUE), a cat-themed Solana memecoin that was launched on 12 April, is set to deliver explosive gains to early investors.
KITQUE, which currently trades on decentralized exchanges like Raydium and Jupiter, has a maximum supply of 5 billion tokens and it has a market cap of around $9,000.
Kitty Queen Coin is currently trading at $0.00000184, after rallying 58% in the one hour since it was launched.
Its market cap is forecast to rally another 5,500% in the next seven days and breach the $500,000 mark.
This would allow early investors to turn a few hundred dollars into around $20,000 – and there would be plenty more explosive upside potential after that, with listings on centralized exchanges set to cause KITQUE’s market cap to blow past the $2mn-$4mn range in the short term.
As for Kitty Queen Coin’s long-term prospects, its ability to reach a market cap of $50 million or more will be dependent on how many investors flock to the project and choose to hold their tokens, instead of taking profits after generating 50x-200x returns.
Many experienced memecoin investors, including those who generated huge profits by investing early on in Shiba Inu (SHIB) and Dogecoin (DOGE), are set to pour funds into Kitty Queen Coin (contract address: F6LdtNP9zThSuCwdweAGqngC9XufhDfMYjFio3mWZT9e).
This is because this newly launched memecoin has much more potential for further growth than SHIB and DOGE, as those tokens already have market caps in the billions of dollars.
However, SHIB and DOGE still have room to surge 100%-300% during the next 6-12 months, so they are still potentially more lucrative than other, more traditional investments.
The Floki Price Prediction has become a focal point in the cryptocurrency sphere as FLOKI’s market valuation reaches the impressive $2 billion mark.
This milestone has fueled discussions regarding potential large-scale investments in the token, which currently trades at $0.000210, having experienced a 2.52% increase within a single day.
This surge highlights its growing influence in the market.
FLOKI’s market position is further solidified by its substantial trading volume of $240.5 million, ranking it 57th on CoinMarketCap.
Its presence is bolstered by a circulating supply of over 9.5 trillion coins, despite the absence of a fixed total supply cap.
This significant market cap achievement prompts further speculation about FLOKI’s future direction and the nature of its investment landscape.
Regarding price forecasts, the critical pivot point for FLOKI stands at $0.00022, reflecting the market’s delicate balance.
Resistance levels at $0.00023, $0.00025, and $0.00028 suggest potential selling pressure points, while support levels at $0.00019, $0.00017, and $0.00015 indicate where buying might increase.
The Relative Strength Index (RSI) at 55 suggests a balanced market, neither overbought nor oversold, with the 50-day Exponential Moving Average (EMA) at $0.00021, highlighting the pivot point’s role in indicating short-term trends.
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FLOKI’s visibility on social media, especially on Reddit and Twitter, significantly affects its market perception.
The introduction of a new program by TokenFi developers, designed to quadruple the purchasing power per wallet, along with FLOKI’s listing on the M2 Exchange, are pivotal developments aimed at expanding its investor base.
The current trend for FLOKI is bearish below the $0.00022 mark, but breaking past this could signal a shift towards a bullish market.
Investors are advised to keep a close watch on these crucial price levels and market news to navigate the volatile cryptocurrency environment effectively.
Simultaneously, the anticipation around Sponge V2’s launch on exchanges is palpable, marking a critical juncture for investors to tap into pre-listing benefits.
From its initial price of $0.000025, Sponge V2 has seen a staggering 7840.59% increase to $0.001960.
The opportunity to earn a 167% staking reward with Sponge V2 is drawing to a close with its impending exchange listing.
The token’s phenomenal growth and the strong backing of over $21.5 million in staked and bridged funds reflect the community’s confidence in its potential. Sponge V2 integrates the Play-to-Earn gaming model with lucrative staking rewards, urging investors to stake their $SPONGE for $SPONGEV2, offering an attractive 40% introductory APY.
With the transition to V2 nearing completion, the urgency for investors to leverage Sponge V2’s promising trajectory before it becomes publicly traded is emphasized.
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In the recent upturn of the crypto market, two Solana-based meme coins, WIF and BONK, have stood out due to their remarkable price increases, signaling a bullish trend for both assets.
The WIF meme coin has exhibited a bullish reversal, notably breaching the $3 threshold and surpassing the overhead resistance trendline, leading to a significant 27% increase over a single weekend.
This surge pushed its value beyond the $4 level.
Although there was a slight retracement to $4.31, resulting in a 2.83% intraday decline, WIF’s value rebounded by 11.79% overnight.
This rapid recovery suggests a potential move towards the $5 mark in the near future.
On the other hand, BONK has shown an equally impressive bullish reversal starting from a low of $0.00002122, creating a descending triangle pattern on its 4-hour chart.
Despite facing a 2.34% drop after a 4% rise on Sunday, BONK’s price adjusted to $0.00002388.
However, the general market recovery fuels optimism for a breakout above the trendline, which could lead to an increase towards $0.000051.
A closer examination of the WIF and BONK price charts indicates that both meme coins are on the brink of further gains.
READ MORE: Whale Wallet Swallows 692 Billion SHIB Tokens from Crypto.com Amidst Market Speculation
WIF’s chart suggests a promising post-retest reversal aimed at the $5 benchmark, while BONK’s trajectory hints at an imminent trendline breakout, offering a promising entry point for traders targeting the $0.000051 level.
As the altcoin season progresses, meme coins such as WIF and BONK have become speculative yet potentially profitable investment avenues.
Traders, particularly those interested in short-term investments, are closely watching these coins, expecting additional rises driven by market sentiment and technical indicators.
In conclusion, the surge in WIF and BONK prices mirrors the broader crypto market’s optimism.
These Solana-based meme coins have garnered significant attention, leading investors and traders to approach with a cautious optimism.
As the market for digital assets continues to evolve, the movements of such meme coins are keenly observed, with the community ready for whatever comes next in this volatile sector.
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Steven Nerayoff, a prominent figure associated with the early development of the Ethereum network, has initiated legal action against the U.S. government, alleging false accusations and improper conduct by federal officials spanning from 2019 to 2023.
Known for his controversial claims against Ethereum co-founder Vitalik Buterin, Nerayoff seeks $9.6 billion in damages through a lawsuit under the Federal Tort Claims Act (FTCA) related to an extortion case lodged against him four years prior.
The dispute, which concluded in May 2023 with the dismissal of the charges by the U.S. government, centers on accusations deemed by Nerayoff as unfounded and supported by unethical practices, including harassment and evidence fabrication by government agents.
This misconduct, he claims, not only tarnished his reputation and disrupted his business endeavors but also inflicted personal and financial hardships.
The lawsuit filing emphasized the profound impact on Nerayoff’s life and career, highlighting substantial legal expenses and loss of income due to his ostracization within the cryptocurrency community.
Eleanor Terrett, a journalist for FOX Business, revealed details of the lawsuit, including Nerayoff’s engagement of renowned attorney Alan Dershowitz as an advisor on the case. Dershowitz remarked on the case’s unique nature.
Nerayoff, a serial entrepreneur and legal professional with several international patents to his name, founded the blockchain consulting firm Alchemist.
His early engagement with projects like Ethereum in 2015 established him as a significant figure in the blockchain sector.
The Federal Bureau of Investigation (FBI) apprehended Nerayoff and Michael Hlady, an associate at Alchemist, in September 2019, accusing them of extortion against a cryptocurrency startup.
This incident is part of a series of controversies and legal challenges Nerayoff has faced, including his criticisms of Ethereum, which ranged from allegations of fraudulent activities and misconduct by its founders to accusations of regulatory favoritism—a controversy known within the community as “ETHGate.”
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Shiba Inu (SHIB) and Dogecoin (DOGE) are facing competition from a wave of emerging memecoins that are attracting significant inflows.
DinoCat (RAWR), a newly launched Solana memecoin, is set to experience a huge price rally in the next 48 hours, as the coin is set to be listed on MEXC.
MEXC is one of the largest cryptocurrency exchanges in the world, and this will be DinoCat’s first centralized exchange listing.
This listing is set to see RAWR’s (contract address: 9khQG9Esv15TWf2F4kdx2ULmbhDvJQS7sDGPBpKLEA4G) price skyrocket 3,000% within a matter of days, and, as more CEX listings are planned in the coming weeks, there will be plenty more potential for the coin’s price to increase beyond this level.
The token, which was launched earlier this week, currently only trades on decentralized exchanges, such as Raydium and Jupiter.
It is currently trading at $0.002377 and it has a market cap of just $23,000, meaning that DinoCat could deliver 1,000x-10,000x returns to investors who buy now if it becomes one of the top 100 memecoins in the world.
Will DinoCat Challenge SHIB and DOGE?
Dog-themed memecoins have dominated the space, with Shiba Inu, DOGE and BONK being the most successful among them.
Several cat-themed coins have tried to become mainstream, but they have failed to achieve this so far.
DinoCat is unlikely to ever surpass the market cap of Shiba Inu, DOGE or BONK, but even if it just reaches a market cap of $10-$50 million, it will turn its early investors into millionaires.
In September 2021, when Facebook rebranded itself as Meta, it was a bold declaration of CEO Mark Zuckerberg’s dedication to transitioning from a Web2 social media platform to a metaverse-focused company.
Fast forward three years, as Meta prepares for its first-quarter earnings call on April 24, the financial dedication and impact of its foray into virtual and augmented reality (VR and AR) technologies on the company’s finances are worth examining.
In 2023, Meta reported a revenue of $134.9 billion, marking a near 16% increase from 2022.
The fourth quarter alone saw a record-breaking revenue of $40.1 billion, surpassing analyst predictions.
This suggests that Meta’s metaverse pivot is bearing fruit.
However, the financial performance presents a complex picture as the earnings call approaches.
Despite the success of the Facebook app, Meta’s Reality Labs — the division behind the Quest VR headset series — has faced significant financial challenges, accumulating operating losses of about $40 billion since 2021.
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The company’s revenue streams are primarily derived from its social media and messaging applications, including Facebook, Instagram, Messenger, and WhatsApp.
According to UploadVR, Meta has sold around 20 million Quest headsets since 2019, a figure dwarfed by Apple’s 151 million iPhones sold in 2023 and Sony’s 50 million PlayStation 5 consoles sold since 2020.
Investors and shareholders appear unfazed by the struggles of Reality Labs.
As highlighted by The Motley Fool, alongside its substantial investments in the metaverse through Reality Labs, Meta has aggressively bought back its stock.
The company has reacquired $92 billion of its shares since 2021, with a $31 billion reserve for further purchases by the end of 2023 and an additional $50 billion allocated for buybacks in February.
This strategy indicates Meta’s confidence in its long-term vision for the metaverse, even as it navigates the financial challenges of pioneering in VR and AR technologies.
As the company gears up for its upcoming earnings call, the industry and investors alike will be keen to see how these investments play out in the broader context of Meta’s financial health and strategic direction.
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The Shiba Inu (SHIB) ecosystem has witnessed a phenomenal 1,344% increase in its token burn rate, indicating a pivotal moment for investors as the dog-themed cryptocurrency’s price teeters on the brink of a significant movement.
Over the last 24 hours, 135,451,536 SHIB tokens were eliminated in 12 transactions, representing a monetary value of $3,868.50.
This surge in the burn rate has sparked widespread speculation regarding SHIB’s future price trajectory, especially as its price has seen a cooling period recently, prompting investors to watch the market closely for any signs of breakout or major price changes.
In the midst of a weekend bullish momentum within the broader cryptocurrency market, where Bitcoin and other key cryptocurrencies recovered significant resistance levels, SHIB also experienced a rally.
Starting from April 6, SHIB rallied for three consecutive days before facing a downturn due to profit-taking, marking a 1.83% decline in the last 24 hours to a price of $0.00002827.
The potential upside for Shiba Inu includes a resistance range between $0.000031 and $0.000036, a level supported by purchases from 137,600 addresses at an average price of $0.000033.
Conversely, a further drop in SHIB’s price finds its next support between $0.000025 and $0.000027, where 33.39 trillion SHIB were acquired by 46,930 addresses at an average price of $0.000026.
Adding to the buzz in the SHIB community, the Shiba Inu team has shared updates on the Shiba Eternity game, which has recently received significant enhancements.
Lucie, a team member, highlighted that the first edition of the Shiba Eternity project is fully operational with recent upgrades.
“Lucie reports that the first edition of the Shiba Eternity project is up and running, having been improved with new updates.
“She adds that there will be no slowing down as Shiba Eternity continues to introduce new features and refine the system.”
This update includes new features for the game, promising exciting additions to kibbles and Shiboshis, new cards, and a breeding system for Shiboshis, with the play-to-earn version of Shiba Eternity nearing its launch, signaling a fast-paced development within the game.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Shiba Inu (SHIB) and Dogecoin (DOGE) are facing competition from a wave of emerging memecoins that are attracting significant inflows.
DinoCat (RAWR), a newly launched Solana memecoin, is set to experience a huge price rally in the next 48 hours, as the coin is set to be listed on MEXC.
MEXC is one of the largest cryptocurrency exchanges in the world, and this will be DinoCat’s first centralized exchange listing.
This listing is set to see RAWR’s (contract address: 9khQG9Esv15TWf2F4kdx2ULmbhDvJQS7sDGPBpKLEA4G) price skyrocket 3,000% within a matter of days, and, as more CEX listings are planned in the coming weeks, there will be plenty more potential for the coin’s price to increase beyond this level.
The token, which was launched earlier this week, currently only trades on decentralized exchanges, such as Raydium and Jupiter.
It is currently trading at $0.000925 and it has a market cap of just $9,300, meaning that DinoCat could deliver 1,000x-10,000x returns to investors who buy now if it becomes one of the top 100 memecoins in the world.
Will DinoCat Challenge SHIB and DOGE?
Dog-themed memecoins have dominated the space, with Shiba Inu, DOGE and BONK being the most successful among them.
Several cat-themed coins have tried to become mainstream, but they have failed to achieve this so far.
DinoCat is unlikely to ever surpass the market cap of Shiba Inu, DOGE or BONK, but even if it just reaches a market cap of $10-$50 million, it will turn its early investors into millionaires.