The cryptocurrency sector has reacted positively to the UK’s Financial Conduct Authority (FCA) announcement on March 11, stating it will simplify the process for listing crypto investment products, specifically crypto exchange-traded notes (ETNs), for professional investors.
However, retail investors are still excluded from participating, reflecting a cautious stance towards broader crypto market accessibility.
Europe’s regulatory framework does not support exchange-traded funds (ETFs) for single assets like Bitcoin or Ether, positioning ETNs as the preferred exchange-traded product (ETP) in both the EU and the UK.
This recent development is seen as a step towards integrating cryptocurrency into the regulated financial market, potentially closing the gap between traditional finance and the burgeoning crypto sector.
Natalia Latka of Merkle Science highlighted the significance of this move, emphasizing its potential to foster cryptocurrency’s integration into a regulated framework.
Yet, she pointed out the ongoing exclusion of retail investors, underlining the UK’s cautious approach towards embracing crypto assets among the general public.
George McDonaugh of KR1 praised the FCA’s decision but called for further action to make the market more inclusive.
He advocated for expanding the UK’s listing regime to allow more companies access to the London Stock Exchange’s Main Market and its junior market, aiming to bolster the UK’s position as a global crypto hub.
The cautious approach of the FCA, established on October 6, 2020, reflects concerns over the valuation of crypto assets, the risk of market abuse, financial crime, and the volatility of crypto asset prices.
READ MORE: Solana Surges to Yearly High Amid Memecoin Mania, Outshines Bitcoin in Market Shift
Despite these reservations, the cryptocurrency market has seen significant growth, prompting discussions about revisiting regulations, especially concerning retail investors.
CryptoUK, a trade association, has voiced support for regulatory changes that provide a balanced field for all types of innovation while advocating for the reconsideration of bans on retail investor access to crypto investments.
The statement stresses the importance of proportionate regulation and investor protection without disproportionately limiting access to crypto assets.
The FCA’s current stance and the industry’s reaction underscore the ongoing dialogue between regulatory bodies and the crypto sector.
The hope is for a regulatory environment that both protects investors and supports innovation, contributing to the UK’s ambition to become a leading global hub for crypto asset technology.
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In an astonishing twist of fate, a trader’s early exit from a memecoin investment on the Solana network resulted in missing out on nearly a million dollars in potential earnings.
Initially investing $8,000, the trader sold their stake in the frog-themed memecoin, Book of Meme (BOME), for $131,000—a substantial profit by any standard.
However, this decision came just one day before the token’s value soared, an opportunity flagged by blockchain analytics firm Lookonchain on March 14.
The firm highlighted the trade of “shatter.sol,” who had bought approximately 170 million BOME tokens with 50 SOL, only to sell them before a dramatic price increase.
According to CoinGecko, BOME’s value escalated from $0.00005848 to $0.005833 between March 14 and 15, propelling its market capitalization over $320 million.
Consequently, the tokens sold by “shatter.sol” would have been valued around $993,000 had the trader held on for just one more day.
This incident has divided opinions among the crypto community, with reactions ranging from considering it a missed opportunity for “generational wealth” to acknowledging the profit made.
READ MORE: Elizabeth Warren Faces Unprecedented Challenge from XRP Advocate in Upcoming Senate Race
Meanwhile, other traders have experienced significant success in the volatile memecoin market. Influencer Moataz Elsayed, known as “Eljaboom,” highlighted a case where an investment of 420.69 SOL (approximately $80,000) turned into $5.7 million within 48 hours.
This success story aligns with a presale investment claim by the anonymous trader “Sunday Funday,” who asserts to be the leading tokenholder of BOME.
The launch of the Book of Meme project by the pseudonymous art producer Darkfarms has drawn considerable attention, despite its experimental nature and the “weird allocation” during its presale.
Darkfarms expressed surprise at the level of participation in the memecoin’s early stages.
The broader Solana ecosystem has seen a resurgence of interest, particularly in November 2023, with an 80% increase in the value of its token.
This revival has sparked a frenzy around Solana memecoins, including Bonk, Dogwifhat, and Silly Dragon, which have all experienced significant gains, reflecting the unpredictable yet potentially lucrative nature of memecoin investments.
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Bitcoin experienced a dip below its weekly lows before the March 15 Wall Street opening, with its value declining to $65,569 on Bitstamp, as per Cointelegraph Markets Pro and TradingView.
This downturn followed the cryptocurrency reaching new all-time highs, with the previous peak of $69,000 from 2021 failing to provide support.
Despite this, the market response remained relatively unfazed, maintaining a perspective that corrections are typical in a bullish trend.
“Bitcoin’s price retracing -10% on this move when greater than -30% corrections are normal during bull runs,” commented On-Chain College on X, highlighting that such corrections are a standard aspect of Bitcoin bull markets.
This sentiment was mirrored by the fact that over 95% of Bitcoin’s supply was in unrealized profit territory, suggesting a normal market behavior.
Credible Crypto, another prominent commentator, pointed to a potential bounce around the $64,000 level, noting a significant reduction in open interest during the price drop.
This perspective was bolstered by Jelle, who compared the current correction to historical averages, suggesting that a 20% pullback could see prices around $58,000, although he did not predict this with certainty.
READ MORE: Solana Surges to Yearly High Amid Memecoin Mania, Outshines Bitcoin in Market Shift
Jelle also expressed surprise at the pullback but remained optimistic about future price increases.
This optimism comes amidst a surge in liquidations, with nearly $300 million in BTC positions liquidated over 24 hours, according to CoinGlass.
Coverage continued with Skew noting the lack of panic shorting in the market, with most selling attributed to long position liquidations and profit-taking from hedges.
The minimal premium on Bitcoin futures indicated a cautious market sentiment, yet without significant moves towards short selling.
The overall market reaction to Bitcoin’s price movements reflects a seasoned understanding of its volatility, with many expecting these fluctuations as part of a larger bullish trend.
Despite the current retracement, the sentiment among traders and commentators suggests a continued belief in Bitcoin’s long-term growth potential.
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Shiba Budz (BUDZ) has emerged as a formidable player in the meme coin arena, presenting an opportunity for investors to potentially double their returns.
This phenomenon transcends mere financial benefits, symbolizing the impact of strategic investment decisions, market dynamics, and the distinct charm of Shiba Budz.
It has quickly become a sought-after asset for those aiming to diversify their crypto holdings, thereby enriching the meme coin landscape.
The migration of investors from Pepecoin (PEPE) to Shiba Budz (BUDZ) is far from accidental. It’s the outcome of deliberate strategic investment choices.
These investors, by closely monitoring market trends and recognizing Shiba Budz’s potential to innovate within the meme coin sector, have seized an opportunity to diversify their portfolio and possibly double their investments.
The essence of their strategy lies in identifying and acting upon the early indicators of Shiba Budz’s rise.
Shiba Budz distinguishes itself and lures Pepecoin (PEPE) investors through its comprehensive approach to the meme coin market.
Shiba Budz extends beyond the conventional meme coin strategy by not solely depending on social media trends.
Its unique proposition includes the development of the TreeHouse Gaming platform, aiming to decentralize meme gaming and introduce cross-chain functionality.
This reflects Shiba Budz’s dedication to offering genuine utility and value, positioning it as an appealing choice for those aiming to enhance their Pepecoin (PEPE) investments.
The surge in Pepecoin (PEPE) investors flocking to Shiba Budz (BUDZ) is indicative of a larger trend within the meme coin sector, suggesting an investor preference for innovation, utility, and strategic positioning.
As the community begins to acknowledge Shiba Budz’s potential for yielding significant returns, a shift in investment from traditional meme coins to new contenders that promise fun, engagement, and financial prosperity is likely.
READ MORE: Bitcoin Halving Not ‘Fully Priced In’ as Fresh Rally Expected with $100,000 Target
This migration of Pepecoin (PEPE) investors towards doubling their profits with Shiba Budz (BUDZ) marks a pivotal moment in meme coin investment history.
It highlights the evolving crypto investment landscape, where the pursuit of rapid gains is coupled with a search for assets offering lasting growth and practicality.
Shiba Budz embodies this new wave of meme coins, captivating investors with its blend of entertainment, community involvement, and viable financial opportunities.
The growing popularity of Shiba Budz among various crypto investors, especially those previously focused on Pepecoin (PEPE), signals the market’s readiness to support meme coins with substantive value.
For Pepecoin investors, transitioning to Shiba Budz represents not only a chance to amplify their profits but also to participate in a broader cryptocurrency revolution.
The ascent of Shiba Budz heralds a shift towards investments that marry humor, community spirit, and tangible utility, reshaping perceptions of the meme coin market.
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Spot Bitcoin exchange-traded funds (ETFs) in the United States experienced a significant decrease in net inflows, with only $132 million recorded on March 14.
This represented the lowest level of net inflows in the last eight trading sessions and a drastic 80% reduction from the $684 million recorded on March 13.
The decline on March 14 followed another decrease from the previous day, contrasting sharply with the record single-day inflows of $1.05 billion seen on March 12.
Despite the notable drop, the total inflow into Bitcoin ETFs was $390 million on March 14, factoring in a substantial $257 million in outflows from the Grayscale Bitcoin Trust ETF (GBTC), leading to the net inflow figure of $132 million.
The VanEck Bitcoin Trust ETF and Fidelity’s Wise Origin Bitcoin Fund also saw inflows, albeit modest, at $13.8 million and $13.7 million, respectively.
Despite GBTC’s significant outflows, the overall ETF market managed to maintain positive net flows on that day.
READ MORE: Elizabeth Warren Faces Unprecedented Challenge from XRP Advocate in Upcoming Senate Race
Leading the inflows, BlackRock’s iShares Bitcoin Trust ETF attracted $345 million. Cumulatively, the U.S. spot Bitcoin ETF market has seen impressive inflows, nearing the $12 billion mark after just 44 days of trading activity.
This trend of declining ETF inflows is occurring alongside a downturn in the broader crypto market, highlighted by a drop in BTC prices below $69,000.
The falling ETF inflows were mirrored by BTC price movements, which saw a new all-time high of over $73,000 on March 13 before falling to around $66,000 on March 15.
This price dip resulted in significant liquidations, with CoinGlass reporting that 193,431 traders were liquidated, totaling $682.14 million in the previous 24 hours.
Market analysts suggest that the current volatility, regulatory uncertainty, and macroeconomic considerations are prompting investor caution.
The ongoing decline in ETF inflows and BTC prices is also being watched closely in relation to the upcoming Federal Open Market Committee meeting, which is expected to provide insights into the Federal Reserve’s future interest rate decisions.
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Bitcoin’s value experienced a significant drop amidst a tumultuous day in the cryptocurrency market, leading to over $661 million in crypto liquidations and affecting nearly 200,000 traders.
The sharp decline saw Bitcoin‘s price fall by 7.5% from $72,000 to $66,500 within just a few hours of trading on March 15.
Despite a brief recovery to the $68,000 mark, the cryptocurrency faced resistance and dropped to approximately $67,500, marking an 8.3% decrease from its March 14 peak of $73,737.
The bulk of the liquidations, which accounted for 80% or $525.2 million, were long positions, while short-position liquidations amounted to $136.5 million.
This sell-off contributed to a 7.3% reduction in the overall crypto market capitalization, which fell to $2.68 trillion as around $175 billion left the market.
Greeks Live, a crypto derivatives tool provider, commented on a “recent change in market tempo” on March 14, indicating a potential shift in the trend of Exchange-Traded Fund (ETF) inflows.
Pav Hundal, a lead analyst at Swyftx, expressed concerns to Cointelegraph about the potential for a correction into the low $60,000 or high $50,000 range if ETF volumes continue to diminish.
He highlighted worries over hot inflation data and a notable 48% drop in Bitcoin ETF inflow volumes from their 14-day average, which could signify a significant market correction.
On March 14, Bitcoin ETF inflows reached a monthly low of just $133 million, according to Farside Investors.
READ MORE: Solana Surges to Yearly High Amid Memecoin Mania, Outshines Bitcoin in Market Shift
Crypto trader and analyst CrediBULL Crypto, addressing his 380,000 followers on X, suggested that the recent market downturn was anticipated and could lead Bitcoin to drop further to between $63,000 and $64,000.
He noted that the dip had erased most of the accumulated open interest in derivatives markets.
The downturn was seemingly hastened by the release of U.S. economic data, including above-expected Producer Price Index (PPI) figures, indicating potential for sustained high rates by the Federal Reserve.
Additionally, higher-than-anticipated Consumer Price Index (CPI) data compounded concerns about the U.S. economy’s challenges.
Following this data, Asian stock markets also saw declines, dampening hopes for imminent lower interest rates.
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Shiba Inu (SHIB) enthusiasts are at a critical moment, closely monitoring the cryptocurrency as it challenges a major resistance level.
Crypto analyst Rekt Capital has highlighted the importance of this juncture, noting that SHIB is currently in a phase of consolidation just below a key resistance point, a hurdle that needs to be overcome for SHIB to continue its upward journey.
Central to Rekt Capital’s analysis is the resistance level at 0.0000332, marked by a blue line on the charts.
This level has posed a significant challenge to SHIB’s upward momentum, leading to a sideways trading pattern. Currently, SHIB’s price is at 0.0000327, inching closer to breaking through this crucial resistance.
For SHIB to unlock its bullish potential, it must break through the 0.0000332 level decisively, turning it into solid support.
READ MORE: Bitcoin Halving Not ‘Fully Priced In’ as Fresh Rally Expected with $100,000 Target
Achieving this would open the door for SHIB to target the next resistance level at 0.0000473, marked by a black line on the charts.
The implications of breaking through the 0.0000332 level are significant. A successful breach could lead to a price increase of over 40% from its current position.
However, failing to surpass this resistance could result in extended consolidation or a potential pullback for SHIB.
The concept of support and resistance levels is dynamic, changing with market conditions and investor sentiment.
Yet, Rekt Capital’s analysis emphasizes the critical importance of the 0.0000332 level in determining SHIB’s short-term direction.
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In the rapidly evolving cryptocurrency market, meme coins like DOGE, SHIB, PEPE, and others have been capturing significant attention, particularly in a bullish phase.
Among these, PEPE, the third-largest meme coin by market cap, has notably stood out with an extraordinary performance.
In the last month alone, it has seen an astounding surge of over 840%, drawing considerable interest from investors and traders alike.
As of March 14, 2024, PEPE broke new ground by exiting a consolidation phase it had been in over the past five trading days and hitting a new all-time high at $0.0000108.
This breakout led to a further increase of over 14%, with the coin’s price stabilizing around $0.0000105. Experts analyzing PEPE’s market behavior consider it bullish post-breakout, suggesting potential for further gains.
They predict that if PEPE can maintain its position above the $0.0000105 level, it could climb to $0.000014 in the near future.
However, they also caution about the possibility of a correction or consolidation period, considering the coin’s recent substantial gains.
The 24-hour trading volume for PEPE has seen a 50% increase, reaching approximately $2.4 billion, indicating a heightened interest in the coin.
Over the past week, PEPE has gained over 55%, and over the past month, investors have enjoyed returns exceeding 840%.
A noteworthy event in this saga is the significant profit earned by a savvy trader, known by the address 0x522, who secured over $3.39 million from trading PEPE.
As reported by the on-chain analysis firm SpotOnChain, this trader moved 500 billion PEPE tokens, valued at about $4.26 million, to Binance, the world’s largest cryptocurrency exchange, within the last ten days.
This move resulted in a profit of $3.39 million from a mere 870K investment.
SpotOnChain further revealed that this trader still possesses 100 billion PEPE tokens, now worth approximately $1.07 million.
Additionally, the trader has earned nearly $900K in profits from trading other meme coins like FLOKI and SHIB.
This activity underscores the significant wealth creation in the meme coin sector, further amplified by the approval of the spot Bitcoin ETF, which has led to widespread gains across the meme coin market.
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The cryptocurrency market recently witnessed an unprecedented surge, with a remarkable inflow of $80 billion, primarily propelled by the significant performances of Shiba Inu (SHIB) and Dogecoin (DOGE).
Last week, SHIB’s trading volume reached an astonishing $31 billion, surpassing DOGE, which also had a notable volume of $23 billion.
This marked a pivotal moment in the market, indicating a shift towards SHIB’s increasing popularity over the traditionally dominant DOGE.
Shiba Inu’s journey from being an underdog to a market leader is nothing short of dramatic. Its chart showcases a sharp uptrend, demonstrating a rapid increase in value.
This growth is attributed to a mix of investor excitement and favorable market dynamics.
A key bullish signal is the moving averages positioning below the candlesticks, suggesting a strong foundation for further price hikes.
Despite a minor pullback, which analysts see as a potential market correction, SHIB remains well above essential moving averages.
The high trading volume emphasizes strong buyer interest, hinting at continued momentum.
On the other hand, Dogecoin’s narrative is one of stability and optimism. Its price stability above moving averages reflects enduring investor confidence.
The recent consolidation pattern hints at an accumulation phase, potentially setting the stage for future gains, especially if interest in meme coins persists.
The moving averages beneath the price action denote a steady upward trend, though DOGE’s volume has been less volatile compared to SHIB.
This might make DOGE an attractive option for those seeking a more stable investment in the meme coin sector.
Both SHIB and DOGE have showcased remarkable trends, influencing the broader cryptocurrency market. SHIB’s explosive volume and price increase reflect a growing investor interest, challenging DOGE’s position.
Meanwhile, DOGE’s consistent performance speaks to its enduring appeal.
These dynamics underscore the evolving landscape of the cryptocurrency market, where meme coins continue to play a significant role in shaping investor sentiment and market trends.
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DOGAMÍ’s ($DOGA) price is poised to surge as the project is set to announce the listing of its token on a top 5 centralised exchange (CEX) in March, sources familiar with the matter told Crypto Intelligence on Friday.
$DOGA is one of many dog-themed tokens, like Shiba Inu ($SHIB) and Dogecoin ($DOGE), but this token has considerably more upside potential due to its small market cap of just $5.2 million.
DOGAMÍ is currently tradeable on Gate.io and MEXC, but this new CEX listing will give $DOGA huge exposure and potentially attract tens of thousands of new investors in a matter of weeks.
As such, $DOGA’s price could surge over 70% once this new exchange listing is announced, and many investors are ultra-bullish on this token in the medium-to-long run.
$DOGA Price Prediction
Dogami coin is in a good position to breach $0.15 by the end of this year, delivering a 10x return at the current entry price.
However, this is a relatively conservative prediction, and some $DOGA holders are forecasting it to reach a $700 million market cap, which would propel the DOGA token price to almost $1.80.
This would deliver a 120x return to investors who buy in at the current entry price.
Other dog-themed coins, like Shiba Inu and Dogecoin, are also likely to rally in 2024, delivering a 2x-4x return, according to numerous price predictions.
However, both SHIB and DOGE have been facing resistance recently, and it remains to be seen if they will lose momentum as investors switch to smaller memecoins with more potential for huge gains.
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