Bitcoin does not fluctuate much on weekends, but the altcoin market often moves at this time. In recent months, one or two altcoins have suddenly soared on weekends. This trend usually paves the way for the next week's market, either rushing up again on Monday or triggering greater trading volume.
RARE’s violent pull-up ignited the dormant copycat market. Yesterday we saw a general rise in prices, but this momentum will not last long. The reasons were analyzed yesterday and I will not repeat them here.
However, this general rise may be a good start. Looking back to August last year, monster coins such as TRB, YGG, STORJ, BLZ, GAS, etc. rose during that period, indicating that the bottom of the altcoin market has appeared.
August to mid-October last year was the last stage of shock bottoming for altcoins. After hitting a new low in August, most altcoins began to rebound in September. The pullback in early October did not fall below the August low, and then ushered in a strong pull-up at the end of October.
Therefore, investors are now turning their attention to the altcoin market, looking for potential cryptocurrency investment opportunities.
TON
The TON blockchain team has launched a new initiative called TON Nest to support early-stage projects in its ecosystem. TON Nest is part of the TON Society, a community of blockchain enthusiasts focused on expanding the TON network, especially within the Telegram platform.
On August 16, the TON Association announced that TON Nest will provide developers with the opportunity to showcase projects, participate in workshops, and compete for rewards. In addition, the program will establish a builder-only community and provide participants with the opportunity to participate in private and exclusive community workshops. Its goal is to provide early developers with the resources and guidance they need to successfully deploy their projects.
In addition to TON Nest, TON Ventures has also been established, with Telegram investing $40 million in its cryptocurrency-related projects. This new fund was created by senior builders within the network to promote the development of on-chain applications within the TON ecosystem. The fund focuses on small projects and plans to support large strategic initiatives that need guidance to better integrate into the TON blockchain and Telegram, creating more opportunities for the growth of the ecosystem.
BONK
Bonk (BONK) is one of the emerging altcoins that has attracted much attention in the cryptocurrency space. BONK aims to be a community-driven token that focuses on rewarding its holders through innovative mechanisms.
The altcoin’s low market cap offers early investors a unique opportunity with significant upside potential. As more and more users discover BONK’s advantages, it is expected to stand out among altcoins.
BONK's community attributes enable user engagement and loyalty, which are critical to the success of any altcoin. For those seeking to invest in emerging altcoins, BONK represents an exciting opportunity with the potential to deliver strong returns at an early stage.
INJ
The price of Injective is currently trading within a descending wedge and has been moving in a range after entering the final stage. These ranges have historically been a signal of trend reversals, so after a brief period of consolidation, there is a chance that the price could see a minor uptick above $20. However, the key question is: can the INJ price sustain its gains?
After a sharp drop at the beginning of this month, INJ price has rebounded but is still hovering in a range. Although the RSI rebounded and reached the average level, it failed to break out of the area. This shows that INJ price has the potential to rise above the consolidation area, but it may also quickly fall back to the lower support level of the wedge. This trend may put the coin at the apex of consolidation, and if the platform receives a large amount of buying, it may eventually trigger a bullish rally above $26.
SHIB
According to technical analysis, SHIB is currently in a downtrend as it is trading below the 200 exponential moving average (EMA) on a daily basis. For a significant move higher, SHIB would have to close above $0.0000183 on the weekly chart, otherwise it would be difficult to see a significant rebound.
Nonetheless, investor interest has risen over the past 24 hours. Data from on-chain analytics firm Coinglass shows that SHIB’s open interest has increased by 13%, indicating increased investor attention.
Currently, SHIB is trading near $0.00000133, up more than 1% in the past 24 hours. Meanwhile, its trading volume has dropped by 50% in the same time frame, which could indicate a reduction in trader activity due to ongoing selling pressure.
AR
Arweave is a decentralized storage network dedicated to providing indefinite data storage solutions. One of its core features is the "permaweb", which is used to host various community-driven applications and platforms. Recently, Arweave launched a new protocol called ArFleet, which focuses on temporary data storage.
This marks a significant shift in Arweave’s direction away from its traditional approach centered around permanent storage. ArFleet will be officially launched on Thursday, August 29th, with an event including a live presentation from lead developer AO/ACC, followed by a Q&A session and community discussion at the Arweave Gathering Town.
The launch of ArFleet enables Arweave to meet more market needs, in stark contrast to its core permanent storage service, demonstrating the platform’s flexibility and broad application potential. This progress not only enhances the appeal of AR, but also broadens its application scope.
Technical indicators show that AR Token has the potential for further growth, making it a cryptocurrency to watch right now. AR Token is already trading above its 200-day simple moving average, showing strong market momentum. Additionally, the strong liquidity the token exhibits relative to its market capitalization also indicates its potential for continued outperformance.
Currently Xiao Miao holds: $BTC $ETH $SOL $BNB $MAX $CKB $PIZZA $PEPE $PEOPLE $TON $NOT
The cryptocurrency ecosystem has been in a downturn recently, with both on-chain data and secondary market trading volumes declining. As interest rate cuts approach, trading strategies have become more conservative. However, the more depressed the moment, the more likely it is that a phenomenal project will emerge. Looking back at the situation before the BRC20 ecosystem exploded, it was similar when SATS led to the second explosion of the BRC ecosystem. It is enough to seize such an opportunity once. In the near future, it is recommended to pay more attention to the fractal BTC network of the BTC ecosystem, which may be the next outlet.
Today's article ends here. We are currently in a bull market, and the situation is turbulent. We share passwords every day. If you don't know what to do in a bull market, welcome to follow us. Bull market spot passwords and layout strategies can be shared free of charge.
