In recent days, the price of WIF has sharply declined, resulting in a notable increase in long liquidations.
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Dogwifhat (WIF) has been a popular memecoin in the cryptocurrency sector for some time, backed by numerous investors, which had driven its substantial growth.

WIF Faces Significant Selling Pressure Amid Price Decline
In the past 24 hours, WIF has witnessed over $1 million worth of long positions being liquidated due to a sharp decline in its price. At the time of writing, the memecoin was trading at $2.59, reflecting a decrease of 7.26% from previous levels.

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This drop is not an isolated event but part of a broader downtrend that has persisted since the beginning of May. Throughout this period, WIF has consistently formed lower lows and lower highs, indicating a bearish trajectory.
The Chaikin Money Flow (CMF), a gauge of money flow into or out of an asset, has also declined significantly, suggesting decreased buying interest in WIF. Similarly, the Relative Strength Index (RSI) has dropped, signaling diminished bullish momentum.

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With ongoing selling pressure, WIF could potentially breach the support level around $2.4794 in the near future.

Source: Trading View

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WIF Faces Increasing Bearish Sentiment Amid Competitors’ Gains
Following WIF’s recent price decline, traders have become increasingly skeptical. Coinglass data indicates that bearish sentiment has risen, with short positions now comprising 52% of recent trading activity.
The sentiment among traders appears to be worsening, as indicated by Santiment’s data showing a significant decrease in Social Volume related to WIF. This decline suggests a notable increase in negative commentary surrounding the token, potentially exacerbating selling pressure along with the decreasing Weighted Sentiment.

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Source: Santiment
Adding to concerns, WIF’s competitors in the memecoin sector—such as DOGE, SHIB, and FLOKI—have experienced price surges over the past week. If these trends persist, WIF may face additional challenges in maintaining its market share and investor confidence.

Source: CoinMarketCap

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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#Bitcoin #Ethereum #WIF #DogWifHat #Memecoins $WIF $BTC $ETH

Shiba Inu has experienced a surge in activity over the past 24 hours, with various entities, including large investors and exchanges, actively moving their SHIB holdings.
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This has led to an increase in significant transactions. Here’s a breakdown of these movements and the possible reasons behind them.

Surge in Shiba Inu (SHIB) Transactions: What’s Happening?
Recent data highlights significant movement within the Shiba Inu ecosystem. For instance, a Robinhood hot wallet transferred 45.01 billion SHIB, valued at approximately $1.13 million, to another Robinhood wallet.

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SHIB/USDT Chart by TradingView
Additionally, a Symbolic Capital Partners MEV Bot executed multiple transactions, each involving around 50 billion SHIB, with values ranging from $1.23 million to $1.26 million per transaction. Uniswap also saw notable volume, with transactions like 50.8 billion SHIB ($1.26 million) and 50.4 billion SHIB ($1.23 million) being recorded.

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This heightened activity correlates with the on-chain data, revealing that in the last 24 hours, there were 86 large transactions, totaling approximately 1.14 trillion SHIB. This surge marks a significant increase from the seven-day low of 14 transactions and the seven-day high of 378 transactions. Similarly, the volume of these large transactions reached 1.14 trillion SHIB in the past 24 hours, compared to the seven-day high of 9.6 trillion SHIB and the seven-day low of 415.2 billion SHIB.
Shiba Inu (SHIB) Trading Activity and Market Implications
SHIB has been trading within a symmetrical triangle pattern, suggesting indecision in the market. The recent uptick in whale transactions and large transfer volumes may indicate an impending breakout or a significant price movement. However, SHIB’s price has been relatively stable, fluctuating around the $0.00002450 mark, with resistance at $0.000025 and support at $0.00002234.

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Considering the lack of volatility in the Shiba Inu market, the most likely reason behind these transfers is whales and institutional investors repositioning their portfolios. Additionally, exchanges might be preparing for upcoming market events.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#Bitcoin #Ethereum #Shib #ShibaInu #Dogecoin $SHIB $DOGE $BTC

The past week has been a wild ride for meme coins, with Dogwifhat (WIF) and PEPE in the spotlight amid market chaos. WIF, a popular meme token on Solana, dropped 25% in value, falling from its weekly high of $3.4.
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Another Solana-based meme coin, POPCAT, also saw a significant decline of 34%, hitting its lowest levels since mid-April. Meanwhile, the Ethereum-based PEPE token, which had surged to new heights earlier in the week, faced an 18.5% sell-off, shaking investor confidence.

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Whale Actions Influence Meme Coin Market Amidst Turmoil
Against this grim backdrop, the crypto space was buzzing with news about the actions of the largest holders of these cryptocurrencies, which significantly influenced these price perturbations.
Lookonchain’s reports revealed that a whale strategically moved to offload 1.7 million WIF at a loss, swapping them for other meme coins on Solana following the price dip. This action not only impacted WIF but also influenced the prices of other meme tokens, including BONK.
Another whale also incurred losses by selling WIF and POPCAT, further contributing to the volatility in the meme coin market.

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WIFUSDT_19 May 2024_ Source: TradingView
Whale Moves Trigger Meme Coin Market Volatility
Spot On Chain’s insights added another layer of intrigue, highlighting a multisign wallet that deposited a substantial amount of PEPE to Binance in an attempt to stop losses. This move contributed to a 6% price drop. This whale’s trading history suggests a pattern of contributing to sharp price fluctuations when trading PEPE.

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Source: Spot On Chain
In the wake of these developments, meme coin investors are left with several questions. Will meme coins like WIF and PEPE be able to recover from these significant losses? What strategies will major token holders employ to navigate the current market volatility?

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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#ShibaInu #Dogecoin #Memecoin #CMEBitcoinSpotTrading #notcoin $BTC $ETH $BNB

BNB is approaching a breakout from a bullish pennant pattern, hinting at the potential for reaching a new all-time high. Despite lower volatility recently, Binance Coin’s momentum suggests it could soon surge significantly, with its price currently poised at a critical level.
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BNB’s price has shown lower volatility in the past week. While several metrics appear bullish for BNB, there are a few indicators suggesting otherwise.

BNB Poised for Potential Breakout Above $580
The past week saw BNB maintaining relatively low volatility, with its price decreasing by only 1.5%. In the last 24 hours, there was minimal movement in its price.
As per CoinMarketCap data, BNB was trading at $580.59 at the time of writing, boasting a market capitalization exceeding $85.6 billion.
Despite recent stability, there’s optimism surrounding BNB’s future. Technical analysis reveals a bullish pennant pattern forming since mid-March, with BNB consolidating within it.

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Currently, BNB is nearing a breakout from this bullish pattern. A successful breakout could trigger a substantial bullish rally, potentially surpassing its March highs.

BNBUSDT CHART_ 18 May 24 _Source: TradingView

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If conditions align favorably, BNB might even exceed its all-time high (ATH) of $661 in the coming weeks or months.
Additionally, on-chain metrics are supportive of a potential breakout. BNB’s Funding Rate remains low, typically indicating a potential price increase in the near term.
BNB’s Trading Volume and Sentiment Analysis
Recently, BNB’s trading volume experienced a decline, coinciding with a bearish price trend observed over the past few days. This subdued trading activity suggested that investors were holding back from actively trading BNB, indicating a potentially prolonged bearish sentiment. Additionally, market sentiment around BNB remained pessimistic, as reflected in its low Weighted Sentiment score.

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Another concerning metric was the Long/Short Ratio for BNB, which had decreased at the time of reporting. A lower ratio typically indicates a bearish sentiment prevailing among traders, with a greater inclination towards selling or shorting the asset.
Analyzing BNB’s technical indicators, the Relative Strength Index (RSI) was observed to be moving sideways near the neutral mark. Similarly, the Chaikin Money Flow (CMF) exhibited a similar trend, suggesting stable but cautious market sentiment.

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At the time of assessment, BNB was testing its 20-day Exponential Moving Average (EMA). A successful move above this EMA could significantly increase the likelihood of BNB breaking out from its bullish pattern in the near future.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#Bitcoin #Ethereum #Binance #BNB #BTC $BNB $BTC $ETH

The past week in the cryptocurrency world was full of ups and downs. One of the biggest surprises came from renowned trader Michael van de Poppe, who made waves by selling all his Bitcoin holdings to shift his investments into altcoins.
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Despite Bitcoin’s recent struggles with its price, Van De Poppe emphasized that his decision wasn’t because he lost confidence in Bitcoin.

Highlights from Last Week in Cryptocurrency
Last week in the cryptocurrency world saw significant developments. Hayden Adams, CEO of Uniswap, criticized the Biden administration for disregarding the political significance of cryptocurrencies. He cautioned that this oversight could alienate a substantial voter base and impact campaign funding.

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In another notable event, trader ‘Bonk Guy’ captured headlines by disclosing a remarkable profit. Within just 48 hours, he leveraged derivatives of AMC and GameStop on the Solana blockchain to turn a $155,000 investment into $1.3 million—a staggering 641% gain. Bonk Guy anticipates that the true “meme coin season” has yet to fully materialize.
Crypto Predictions: Shiba Inu and Dogecoin
Crypto trader Javon Marks has expressed bullish sentiments towards Shiba Inu, often referred to as the ‘Dogecoin Killer’. Marks predicts that Shiba Inu has the potential to exceed its previous all-time high of $0.000088598, indicating a potential price surge of 282% from current levels. He believes the meme coin is currently experiencing an “intermission” phase before resuming its upward trajectory.

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Meanwhile, Crypto Kaleo has shown optimism regarding the resurgence of Dogecoin. He attributes this potential revival to a renewed risk appetite in the retail sector. Despite recent challenges, Kaleo emphasized Dogecoin’s enduring relevance, stating that the cryptocurrency remains vibrant and poised for significant gains once buying interest strengthens.
Also Read:   Robinhood Surprised by Large Dogecoin (DOGE) Withdrawal Amid SEC Drama

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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#Bitcoin #Ethereum #ShibaInu #Dogecoin #Memecoin $DOGE $SHIB $BTC

Average investors often seek guidance from seasoned professionals for profitable investment opportunities. Cathie Wood, renowned for her expertise in disruptive technologies and innovative businesses, commands significant attention in the financial world.
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Wood and her firm, Ark Invest, are highly optimistic about a leading cryptocurrency, predicting it could surge to $3.8 million by 2030—an ambitious target that grabs widespread interest. However, while this forecast is impressive, it prompts the question: is this digital asset a must-buy?

Cathie Wood’s Bold Bitcoin Predictions and Rationale
In January of this year, Cathie Wood set a lofty price target for Bitcoin (BTC) for the year 2030: $1.5 million per coin. This forecast followed the much-anticipated approval of Bitcoin spot exchange-traded funds (ETFs), marking a potential 34-fold increase from Bitcoin’s price of $44,000 at the start of 2023.

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In a more recent update in March, Wood revised her projection, suggesting that if institutional investors allocated 5% or more of their portfolios to Bitcoin, its price could skyrocket to $3.8 million per coin by 2030. Such a valuation would give Bitcoin a market cap of $75 trillion, surpassing the value of the entire U.S. GDP by threefold.
This revised target implies a nearly 58-fold increase in Bitcoin’s price over the next seven years, equating to an annualized gain of approximately 79%. This potential growth rate would likely outperform nearly every other asset class available.

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Ark Invest attributes these bullish projections to several factors, including recent ETF approvals and the impact of Bitcoin halving events, which historically have driven price increases in previous cycles. Additionally, increased regulatory clarity could further drive institutional adoption of Bitcoin.
Also Read:   Top Trader Forecasts "Major Crypto Rally"
Wood emphasizes Bitcoin’s role in portfolio diversification and highlights its impressive track record, with the cryptocurrency’s price rising by 800% over the past five years, significantly enhancing purchasing power for investors.

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Assessing Cathie Wood’s Bitcoin Price Target: Tempering Expectations
Cathie Wood and Ark Invest are renowned for their bold projections, including the recent forecast of Bitcoin reaching $3.8 million per coin by 2030. While such predictions capture attention, they can also be seen as strategic to promote Ark Invest’s Bitcoin ETF offerings. Investors should approach these targets with caution and manage their expectations accordingly.
Realistically, expecting Bitcoin to achieve an annualized growth rate of 79% until 2030 is ambitious. However, this doesn’t negate Bitcoin’s potential as a long-term investment. For investors with a substantial time horizon, Bitcoin remains a viable asset to consider, despite the uncertainties and volatility inherent in the crypto market.

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It’s crucial to recognize that investing in Bitcoin requires a patient outlook, ideally spanning five to ten years. Blockchain technology and regulatory landscapes evolve slowly, influencing Bitcoin’s trajectory over time. Moreover, widespread adoption of Bitcoin still lags behind traditional assets like stocks, bonds, and real estate.
Investors must also brace themselves for Bitcoin’s notorious volatility, with past instances of price drops exceeding 50%. Prudent investment means allocating funds that won’t cause undue stress during market swings.
While a $3.8 million price target for Bitcoin may seem far-fetched, the cryptocurrency could still prove lucrative over the long haul. It’s essential for investors to approach Bitcoin with a balanced perspective, weighing potential gains against market risks and their own financial goals.

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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#Bitcoin #Ethereum #CMEBitcoinSpotTrading #notcoin #notcoin $BTC $ETH $XRP

The Shiba Inu team has launched ShibaSwap, their decentralized exchange (DEX), on the Shibarium blockchain. This marks a significant achievement for the Shiba Inu community, offering a better platform for decentralized finance (DeFi) activities.
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ShibaSwap aims to provide a user-friendly experience for trading and other DeFi functions. Additionally, updated DeFi statistics dashboards now give insights into total locked value and trading volume across the Shiba Inu ecosystem, benefiting both experienced users and newcomers with accessible data. The revamped ShibaSwap interface on Shibarium enhances user experience, featuring intuitive dashboards that highlight popular trades and SHIB-themed assets for easier navigation and investment decisions.

ShibaSwap Relaunch: Enhancing DeFi with Multi-Chain Functionality
A key feature of the ShibaSwap relaunch is its adoption of multi-chain functionality. The platform now operates on both Ethereum and Shibarium blockchains, allowing users to utilize the unique strengths of each. This includes optimizing trading strategies and managing liquidity more effectively, with options to benefit from lower transaction fees on Shibarium or the established security of Ethereum.

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While the launch on Shibarium marks a significant milestone, the Shiba Inu team sees it as just the beginning. Plans for ShibaSwap versions 2 and 3 are already in motion, promising further advancements. These future iterations will introduce personalized portfolio pages and advanced liquidity options, aiming to solidify ShibaSwap as a comprehensive DeFi hub for the Shiba Inu community.
Shytoshi Kusama and ShibaSwap: Paving the Way for Enhanced DeFi
Shytoshi Kusama, the lead developer of Shiba Inu, expressed pride in the successful launch of ShibaSwap on Shibarium. He highlighted the contributions of key developers like Kaal Dhairya and hinted at ongoing development plans, promising “much more in store” for the future.

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The Shiba Inu community has enthusiastically embraced Kusama’s statement, showing excitement for the revamped platform and eagerly anticipating upcoming developments.

The launch of ShibaSwap on Shibarium underscores the Shiba Inu project’s commitment to building a robust and user-friendly DeFi ecosystem. With enhanced functionality, multi-chain compatibility, and future innovations on the horizon, ShibaSwap aims to establish itself as a significant player in the dynamic DeFi landscape.

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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#Shib #ShibaInu #Memecoins #Bitcoin #Ethereum $SHIB $BTC $ETH

Terra Luna Classic is considering a proposal to restore interblockchain communication (IBC) with the Osmosis protocol. This initiative aims to recover liquidity for LUNC and USTC tokens.
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If approved, transfers between Terra Luna Classic and Osmosis would resume under the Client ID 07-tendermint-12 on columbus-5, which references the expired Osmosis validator set.

Proposal to Reactivate Osmosis IBC on Terra Luna Classic
Developer Fragwuerdig, a former core team member, has proposed “Reactivate Osmosis IBC” on the Station wallet. This proposal aims to restore interblockchain communication (IBC) between Osmosis and Terra Luna Classic.

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Vegas, a Terra Classic member and validator, highlighted that the Osmosis IBC client requires an upgrade for smooth IBC relay operations. Specifically, he recommended transitioning from version 07-tendermint-12 to 07-tendermint-250 to ensure seamless interchain transfers between LUNC and Osmosis.
As of now, the proposal has garnered over 96% of votes in favor. The voting deadline is set for May 25. In addition to the strong support, 3% of votes opposed the proposal with veto power. Notably, seven validators, including LuncGoblins and Moon Rabbit Validator, who participated in the voting, have voted “Yes,” emphasizing the importance of approving the proposal for the community’s benefit.

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Terra Luna Classic (LUNC) and USTC Price Updates
The Terra Luna Classic (LUNC) community anticipates a price increase to surpass $0.0002 soon, driven by ongoing development activities and staking. Currently, LUNC has been trading sideways following a modest 3% increase this week. The 24-hour trading range for LUNC shows a low of $0.0001072 and a high of $0.0001106. Despite a slight decrease in trading volume over the past day, investor interest remains strong.

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In contrast, USTC has experienced a notable 30% rally over the past month. However, trading volumes have significantly decreased in recent days, particularly this week. USTC is currently trading at $0.02233, with a 24-hour low and high of $0.02200 and $0.02314, respectively. Although trading volume has seen a slight uptick compared to the previous day, indicating sustained trader interest, the overall volume trend remains subdued.

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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#Bitcoin #Ethereum #Lunc #USTC #Luna $LUNC $USTC $BTC

The crypto world wrapped up another week with notable developments capturing attention across the trading landscape. Meme coins, meme stocks, and Ripple were among the standout topics.
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As another week concludes in the world of cryptocurrencies, a variety of attention-grabbing events have unfolded. Meme coins, meme stocks, and Ripple have particularly stood out as some of the most talked-about topics, attracting global interest.

Meme Coins Making Waves in the Crypto Market
PEPE Coin’s Surge: This week, the meme coin sector dominated discussions in the crypto community, with PEPE and FLOKI leading the charge. PEPE coin, known for its frog-themed meme, surprised the market by reaching new all-time highs. Despite this bullish trend, smart money addresses and whales continued to accumulate significant amounts of PEPE, fueling optimism for its future price movements.

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FLOKI’s Remarkable Performance: Another standout in the meme coin sector was FLOKI, featuring a dog-themed theme. FLOKI experienced an unprecedented surge in its price over the past week, driven by a proposal to burn FLOKI tokens and its listing on Revolut. These developments have positioned Floki Inu as a prominent player in the meme-token market, further boosting its popularity and market presence.
Meme Stocks and Coins Shake Up the Trading Scene
This week saw a dramatic resurgence in meme stocks like GameStop (GME) and AMC, sparked by the return of Roaring Kitty’s social media presence. This sudden revival captivated the trading world, with meme coins also experiencing a surge in tandem, creating widespread excitement in global markets.

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Despite the initial surge, meme stock prices quickly reverted to a downward trend, making it a memorable week for meme-based investment products. GameStop, in particular, made headlines by filing to sell up to 45 million of its shares, entering an open market agreement with Jefferies LLC. These developments underscore the volatile nature of meme-driven investments in current market conditions.
Ripple’s Legal Battle and XRP Market Activity
SEC vs. Ripple Lawsuit: This week, the long-standing legal dispute between the U.S. Securities and Exchange Commission (SEC) and Ripple gained significant attention. Key motions were filed to seal crucial details regarding XRP institutional sales discounts and agreements. Ripple’s CFO, Jonathan Bilich, supported the motion by filing a declaration to seal these documents.

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XRP Market Activity: In parallel with these legal developments, a substantial movement of 280 million XRP by whales was observed, adding intrigue to Ripple and XRP’s cryptographic journey.
Outlook and Community Reaction: Amid these developments, pro-XRP sentiments were expressed by lawyer Fred Rispoli, who suggested during a live stream that the lawsuit might conclude by July or August this year. The XRP community has reacted with heightened interest and anticipation as these legal and market activities unfold.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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#Bitcoin #Ethereum #Memecoins #CMEBitcoinSpotTrading
$BTC $ETH $BNB

Chainlink’s price has surged by 20% over the past week, driven by increased accumulation. Recently, Chainlink (LINK) has gained significant attention and its price has risen substantially.
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LINK’s network activity rose alongside its price, showing promising metrics for continued price growth, although a few indicators suggested caution.

Chainlink’s Recent Developments
Chainlink (LINK) has seen a surge in popularity while Bitcoin (BTC) dominance has slightly declined recently. IntoTheBlock highlighted several noteworthy developments related to Chainlink in a recent tweet.

Source: CoinStats
The tweet first noted a significant increase in LINK search trends, indicating growing interest in the token. This rise in popularity has positively influenced the blockchain’s network activity, with the number of transactions spiking. Specifically, LINK recorded 5.82 thousand transactions in the last day, nearing its monthly peak.

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Interestingly, despite the increase in transactions, there hasn’t been a major change in the number of new addresses, suggesting stable user growth.
Investor Accumulation in Chainlink (LINK)
Net Withdrawals from Exchanges: Accumulation of Chainlink (LINK) tokens by investors has been notable recently. According to the tweet, there have been consistent net withdrawals from exchanges. This behavior suggests that investors are increasingly holding onto their LINK rather than selling, reflecting confidence in the token’s future performance.

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Whale Accumulation: Furthermore, whales—addresses holding over 0.1% of the LINK supply—have been actively accumulating the token. Over the past month, these addresses collectively accumulated a net total of 25 million LINK. This significant accumulation by large investors highlights robust confidence and strong interest in the potential growth of Chainlink.
Chainlink: Recent Developments Highlighted by IntoTheBlock
IntoTheBlock recently shared significant developments regarding Chainlink (LINK) in a tweet.

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The tweet highlighted a notable increase in LINK search trends, indicating growing interest in the token among investors and enthusiasts. This surge in popularity positively impacted the blockchain’s network activity, leading to a spike in the number of transactions. On the last day alone, LINK recorded 5.82 thousand transactions, nearing its monthly peak.
Interestingly, despite the rise in transactions, there wasn’t a substantial change in the number of new addresses created, suggesting stable user growth.
On the investor front, accumulation of LINK tokens showed promising signs. The tweet noted a trend of net withdrawals from exchanges, signaling that investors are increasingly holding onto their LINK rather than selling. Additionally, whales have been actively accumulating LINK, with addresses holding over 0.1% of the supply accumulating a net total of 25 million LINK over the past month. This behavior underscores strong confidence and investment in Chainlink’s future prospects.

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Chainlink’s Recent Performance and Market Analysis
Bull Rally and Market Capitalization: The rise in accumulation of Chainlink (LINK) tokens has initiated a bullish trend. According to CoinMarketCap, LINK surged by over 20% in the past week, reaching $16.22 with a market capitalization exceeding $9.5 billion.
As a result of this rally, LINK’s MVRV ratio, indicating the profit status of investors, saw a significant increase. Open Interest also rose alongside its price, suggesting potential for continued upward movement.

ChainLink-on-Ethereum-LINK: Source – Santiment
Bullish Sentiment and Price Fluctuations: Santiment recently highlighted a surge in bullish sentiment around Chainlink, the highest seen in over a year. Despite these positive indicators, LINK’s price dropped by nearly 2% in the last 24 hours.

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However, the Chaikin Money Flow (CMF) indicated a notable uptick, suggesting that the recent price correction might be short-lived and that LINK could resume its upward trajectory soon.
Concerns and Technical Analysis: Nevertheless, Chainlink’s price touched the upper limit of the Bollinger Bands, which raises concerns about potential overbought conditions. Investors are watching closely to see if LINK can sustain its recent gains or if further adjustments are needed in the short term.

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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#Bitcoin #Ethereum #ChainLink #Link $LINK $ETH $BTC