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🔥Memecoin trading volumes are crashing! Here's why👇 Popular memecoins like Dogecoin, Dogwifhat (WIF), and Pepe are taking a hit today, signaling a downturn in the once-booming sector. This decline seems to be part of a broader market trend, with top cryptocurrencies like Bitcoin and Ether also retracting from their recent highs ahead of the Bitcoin Halving 2024. Investors are cashing out profits, and memecoins aren't immune to this trend, as seen before the previous Bitcoin halving in May 2020. There's a close relationship between Bitcoin and top memecoins, indicating that memecoin prices could follow Bitcoin's lead in the coming days. Analysts predict a pattern similar to Bitcoin's 2016 halving, suggesting that selling pressure might continue for up to four months after the halving. This sentiment is adding to the downward pressure on memecoin prices. As memecoin prices drop, so do trading volumes. Data from Dune Analytics shows a significant decline in weekly trading volumes across all blockchains, including Ethereum and Solana. This suggests that traders are losing interest or confidence in memecoins. Solana, a popular blockchain for memecoin trading, has experienced an outage, with around 75% of transactions failing in recent sessions. This has further contributed to the decline in memecoin trading volumes. Amid strong U.S. economic data and expectations of delayed interest rate cuts from the Federal Reserve, investors are turning away from riskier investments like memecoins. This shift is driving selling sentiment in the crypto market, impacting memecoins, which had been profitable assets in 2024. As investors seek safer options like U.S. Treasuries during periods of higher interest rates, the appeal of riskier investments like memecoins diminishes. This trend is likely to continue as market conditions evolve. #Memecoins #SHIB #cpi #BinanceLaunchpool #HalvingHorizons $DOGE $SHIB $WIF

🔥Memecoin trading volumes are crashing! Here's why👇

Popular memecoins like Dogecoin, Dogwifhat (WIF), and Pepe are taking a hit today, signaling a downturn in the once-booming sector.

This decline seems to be part of a broader market trend, with top cryptocurrencies like Bitcoin and Ether also retracting from their recent highs ahead of the Bitcoin Halving 2024. Investors are cashing out profits, and memecoins aren't immune to this trend, as seen before the previous Bitcoin halving in May 2020.

There's a close relationship between Bitcoin and top memecoins, indicating that memecoin prices could follow Bitcoin's lead in the coming days.

Analysts predict a pattern similar to Bitcoin's 2016 halving, suggesting that selling pressure might continue for up to four months after the halving. This sentiment is adding to the downward pressure on memecoin prices.

As memecoin prices drop, so do trading volumes. Data from Dune Analytics shows a significant decline in weekly trading volumes across all blockchains, including Ethereum and Solana. This suggests that traders are losing interest or confidence in memecoins.

Solana, a popular blockchain for memecoin trading, has experienced an outage, with around 75% of transactions failing in recent sessions. This has further contributed to the decline in memecoin trading volumes.

Amid strong U.S. economic data and expectations of delayed interest rate cuts from the Federal Reserve, investors are turning away from riskier investments like memecoins. This shift is driving selling sentiment in the crypto market, impacting memecoins, which had been profitable assets in 2024.

As investors seek safer options like U.S. Treasuries during periods of higher interest rates, the appeal of riskier investments like memecoins diminishes. This trend is likely to continue as market conditions evolve.

#Memecoins #SHIB #cpi #BinanceLaunchpool #HalvingHorizons $DOGE $SHIB $WIF

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Meme Coins Waking Up, But Struggling Hard to Leave the Rest of the Crypto Market in the Dust Memecoins like Dogecoin, Shiba Inu, and Pepe are currently experiencing weak price recovery, diverging from the recent downward momentum seen in the cryptocurrency market. According to data from CoinGecko, the total market capitalization of memecoins has fluctuated by about 4-7% in the last 24 hours, leaving crypto watchers hanging in the balance. Phewwwww! Among the notable gainers, Pepe (PEPE) made the sharpest recovery with a 21% rise, followed by Floki (FLOKI) with a 14% surge, and DogWifHat (WIF) riding up by 8%. Even the leading meme token, DOGE, saw a 7% increase, bringing its market cap to ~$22 billion. Impressively, DOGE still commands a significant chunk, nearly 41%, of the memecoin market share. Its competitor, SHIB, is also facing a bullish correction, up 6% on the day, with its market cap now at ~$14 billion, securing its spot as the second most popular memecoin. What's driving the recently witnessed downturn in memecoins? 1. Weak Altcoin Market Structure: Traders have been cashing in profits, especially as the Relative Strength Index (RSI) signaled overvaluation. 2. Declining Memecoin Trading Volumes: Data from Dune indicates a significant drop in memecoin transaction volumes across all blockchains. This suggests a diminishing interest or confidence among traders. Individual memecoins like DOGE, SHIB, and PEPE have seen drastic declines in trading volumes, indicating a waning enthusiasm in the sector. 3. Market Sentiment Shifts: The recent US Federal Open Market Committee suggesting a decreased likelihood of interest rate cuts in 2024 has sparked a risk-off sentiment in the crypto market. With the US economy showing signs of strengthening, investors are turning towards safer assets like U.S. Treasuries. Consequently, investors may be reallocating profits from memecoins to other sectors within the crypto ecosystem. Remain vigilant. DYOR! #notcoin #altcoins #ETFvsBTC #Memecoins #BTC $FLOKI $PEPE $WIF
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📉Potential Crash Incoming As Over 20% of Top Cryptos About to Unlock and Unload on the Market⚡ A fresh study on the top 300 cryptos by market cap reveals that more than a fifth of these coins are sitting on a heap of tokens yet to hit the market.👀 This discovery is crucial for both investors and analysts, as it could shake up prices and investor confidence. Based on data from CoinGecko as of May 8, 2024, the analysis left out stablecoins and wrapped assets, focusing on the market cap to fully diluted valuation (FDV) ratio. CoinGecko clarified, "We defined low-float crypto as having a market cap to FDV ratio of 0 to 0.49, high float crypto as ratios of 0.50 to 0.99, and only crypto with a ratio of 1 as fully diluted." Alarmingly, low-float cryptos make up 21.3% of the top 300 coins, hinting at a flood of new supply on the horizon. Among them, Worldcoin takes the cake with the lowest ratio at 0.02, followed by Cheelee (CHEEL) at 0.06, Starknet (STRK) at 0.07, and Saga (SAGA) at 0.09. These coins, all launched in 2023 or 2024. This trend of low float is mainly seen in cryptos introduced in the past four years. In fact, 54 out of 64 low float large-cap cryptos were born during this period. This surge of new projects suggests a bustling crypto scene and could hint at shifts in the market as these tokens hit the market. Looking ahead, the market braces for the impact of upcoming token unlocks. For instance, Token Unlocks data shows that on May 12, Aptos will unleash 11.31 million APT tokens, worth almost $100 million, making up 2.64% of its circulating supply. On May 16, Arbitrum will release 92.65 million ARB tokens, valued over $96 million, comprising 3.49% of its circulating supply. These unlocks could create heavy selling pressure on these tokens. Also, about $3.58 billion worth of tokens are set to unlock this month across various projects. This hefty sum underlines the potential influence of these unlocks on the broader market, possibly spiking volatility. #altcoins #ETFvsBTC #buythedip #BTC #Memecoins $ARB $APT $WLD
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🔥Pepe Could Make a 51% Jump as Crypto Whales Snap Up $5.56 Million Worth of Tokens🚀 Big crypto players are making waves during the market downturn, scooping up loads of the meme coin Pepe to the tune of around $5.56 million. This comes as the overall crypto market takes a dip. Pepe's Potential 51% Jump Spot On Chain, a platform analyzing blockchain activity, highlighted a major crypto whale known by the wallet address 0xa14, who's been quite active. A whale recently moved 350.2 billion PEPE, worth $2.93 million, from Binance, marking their fourth such move. They've made an estimated profit of $1.63 million from these transactions, a solid 15% gain. Since March 14, 2024, this whale has withdrawn 1.449 trillion PEPE from Binance, spending around $10.86 million. They've deposited back 789.26 billion PEPE, spending $6.74 million and currently holding 660 billion PEPE, valued at roughly $5.74 million. Spot On Chain noted, "This whale has consistently profited, with a 100% win rate, totaling $955,000 from previous PEPE trading cycles." Other big traders are also joining the PEPE party. Lookonchain reported another investor, 0xa4F, buying 123.66 billion PEPE for $1.09 million. Wallet address 0x895 withdrew 101 billion PEPE, worth around $885,000, from Binance, while 0x24E3 invested $661,000 USDC to get 74.5 billion PEPE at a rate of $0.000008873. These moves come as $BTC dropped about 5% from $63,400 to $60,180 last Friday. Despite this, PEPE has shown resilience, bouncing back nearly 7% from Friday's low. PEPE's recent recovery was boosted by a breakout on May 3. On May 8, the meme coin tested the pattern's neckline at $0.00000785 and jumped up by 11%. Market analysis hints that based on the current pattern, PEPE could soar up to $0.00001330, marking a 51% increase from its current price. Price Check on Pepe (PEPE) Watch out for resistance at $0.00000890. If PEPE closes below $0.00000785, it might signal a downturn, so keep a close eye on the charts. #ETFvsBTC #Memecoins #BTC #altcoins #buythedip $PEPE
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