Monat: Januar 2022

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Baby Doge coin up 131% in 2 weeks as other meme coins bleed: why is it rallying?

Although dog-themed coins like Shiba Inu (SHIB) and Dogecoin (DOGE) have been hard hit in the past two weeks, Baby Doge coin maintained a bullish momentum all through.

Shiba Inu registered a 4% decline over a period of two weeks while Dogecoin has only managed to garner a 2.4% rise within the same period.

Staring 2022 on the wrong foot

So far, 2022 has been a terrible year for the crypto market at large and dog-meme coins have not been spared the rod.

Bitcoin, the coin that commands the largest share within the crypto space, is struggling to remain above $40,000 after dropping from an all-time high above $68,000. Ethereum, the second-largest cryptocurrency by market cap, is also struggling to remain above $3,000 after dropping from above $4,800.

For BabyDoge, 2022 has been an incredible year so far. The coin has been on a sprint since the year began. It started the year at around $0.000000001903 and CoinGecko shows that it has rallied to $0.000000004087 – up about 131.1%.

What is remarkable about Baby Doge coin is that it has managed to keep the Bull Run going in the ever-choppy world of altcoins and cryptocurrency at large. It has bitten the likes of Bitcoin, Ethereum, Shiba Inu, and Dogecoin even though their popularity is far much higher.

In the background

BabyDoge has over 742K followers on Twitter who are actively involved in spreading its adoption across the globe. Its holders are more than 1.205 million around the world.

The Baby Doge coin community is currently fighting to have the dog-themed meme coin listed on Binance, something that would be a game-changer for the coin.

The Baby Doge Coin project is in a quest of generating positive headlines through donations to welfare charities including the American Society for the Prevention of Cruelty to Animals. The most recent donation is $150,000 to AnimalLeague, the World’s Largest No-kill Animal Rescue and Adoption Organization.

Normally, exchanging BabyDoge commands a 10% fee; something designed to deter people from selling the meme coin irresponsibly.

However, the recent BabyDoge rally shows that crypto traders are looking for new investment opportunities that could result in astronomical gains as has been the norm within the crypto market over the years. And although such rallies normally don’t last, with Dogecoin, Shiba Inu, and Bitcoin being perfect examples, traders seem determined to try their luck with Baby Doge coin.

The post Baby Doge coin up 131% in 2 weeks as other meme coins bleed: why is it rallying? appeared first on Coin Journal.

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Cardano (ADA) is rebounding from six-month lows – What to expect next

Sentiment in the broader crypto market has started to improve after a massive sell-off at the start of the year. Cardano (ADA), just like other altcoins, saw sharp declines in price, hitting 6-month lows during the correction. But we are seeing some rebound. Here are some highlights

  • Sentiment in broader crypto is showing signs of improvement, and Cardano (ADA) has improved with it.

  • At press time, the altcoin was trading at $1.28, up nearly 10% in 24-hour intraday trading.

  • ADA has also rebounded by a decent 13% after slumping to 6-month lows earlier in the week.

Data Source: Tradingview.com 

Cardano (ADA) – Price prediction and analysis

The last two weeks have been quite brutal for crypto investors around the world. The market has largely been on the red. Cardano (ADA) and other altcoins were not spared. Earlier in the week, the coin dropped to around $1.0701, its six-month low.

But we have seen a sharp 13% rebound ever since. Also, although the coin is below its 200-day EMA, it is above its 25- and 50-day EMAs, suggesting a decent uptrend is starting to take shape. 

So far, ADA has been bouncing between $1.1785 and $1.2501. We are watching to see if the coin can test the $1.5 mark. This could trigger a decent bullish breakout with sustained gains. But if bear pressure continues to hold, then it is likely that ADA may slump back to $1.100.

Should you buy Cardano (ADA)?

The answer is yes. Cardano (ADA) is a promising blockchain project that has seen immense growth over the last few months. It’s been attracting a lot of developers too and based on its fundamentals, it’s expected to be a huge project in the future. 

So, for investors who want a decent coin to buy and hold for a bit longer, then this is the perfect time to get in on Cardano (ADA).

The post Cardano (ADA) is rebounding from six-month lows – What to expect next appeared first on Coin Journal.

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Top 3 undervalued tokens to buy outside the top 100 crypto market cap ranking

The idea of buying undervalued tokens with high potential is often the easiest way to get rich from crypto. After all, some of these coins can be 100x in value over a short time. So, why would you even consider tokens outside the top 100 ranking by market cap? Here are some reasons:

  • Tokens outside the top 100 tend to be relatively unknown and under the radar, allowing you to get in early.

  • Since these tokens still have a smaller market cap, it means that they can realistically still go up by huge multiples.

  • These are often newer projects with more and more additions expected in the future, something that will push the value up.

Well, in case you are looking for high potential tokens, these are three of the best outside the top 100:

Velas (VLX)

Vela (VLX) is a fork of Solana designed to compete with Ethereum 2.0. The chain is actually billed as the fastest EVM network in the world, offering better speeds, scalability, and efficiency. 

Source – TradingView

Velas is also trying to address some of the network challenges associated with Ethereum and Solana. At the time of writing, its native token VLX was trading $0.3549 with a market cap of around $800 million. It has the potential to become huge in 2022.

Ankr (ANKR)

Ankr (ANKR) is a solution that allows the use of shared resources to offer easy, more affordable blockchain node hosting solutions. Founded in 2017, the project has built a very good reputation and superb partnerships across the board. It is currently trading at $0.09446 with a market cap of $770 million.

Vault Hill (VHC)

Vault Hill City (VHC) is a play-to-earn game that is still under development. It is poised to become the next Axie Infinity, and since it’s still at pre-launch, it is one token that should be on your radar in case you want some exposure into the metaverse.

The post Top 3 undervalued tokens to buy outside the top 100 crypto market cap ranking appeared first on Coin Journal.

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Elrond (EGLD) Is Sliding Down the Crypto Ranking – Here Is Why the Trend Will Continue

Elrond (EGLD) has been sliding down the crypto pecking order. The pressure on the price has pushed the market cap lower. Even though Elrond (EGLD) is still in the top 50, the coin could fall out soon if the current downtrend continues. We think that the downward pressure is far from over but first, some highlights here below:

  • After hitting all-time highs of $560 last year, Elrond (EGLD) has spiralled downwards by over 60%.

  • Although we saw some recovery at the tail end of 2021, the general trend for the coin has been downwards.

  • A look at technical indicators shows that this pressure is not about to end anytime soon.

Data Source: Tradingview.com 

Elrond (EGLD) – Price prediction and analysis

At the time of writing, Elrond (EGLD) was trading at $214.74. The token is up about 5% for the day, but it’s still about 13% down over the last 7 days. Although EGLD has managed to sustain gains above the psychologically important $200 mark, it is still trading lower than its 25- and 50-day moving averages. 

We also noted that the price is lower than the 61.8% Fibonacci retracement. With this in mind, the bearish trend appears to be well in force. Unless the coin is able to rally and break above $245, it is likely that the price action will remain in the red in the near term.

Should you buy Elrond (EGLD)

Well, right now is probably not the best time to buy Elrond (EGLD). But don’t take this the wrong way. This is a very decent coin with the potential to really deliver value for investors in the long run. 

But since we expect the price to remain bearish, it would be best to wait for a further dip and get in on a better discount. Elrond (EGLD) is also ripe for short-term plays, especially for people who want to bet on improved crypto market sentiment.

The post Elrond (EGLD) Is Sliding Down the Crypto Ranking – Here Is Why the Trend Will Continue appeared first on Coin Journal.

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Shiba Inu (SHIB) snaps sustained downtrend – Can it finally rally in 2022?

Shiba Inu (SHIB) was by far one of the hottest coins of 2021. People made millions of dollars from the meme coin, but after hitting all-time highs last year, it’s been a bumpy ride for the Dogecoin (DOGE) killer. However, SHIB did manage to snap its sustained downtrend. But can it finally start surging? First, some highlights:

  • The recent price action has seen Shiba Inu (SHIB) drop nearly 70% from its all-time highs last year.

  • 56% of all Shiba Inu holders right now are losing money from their initial investments.

  • There are some signs that SHIB is rebounding with the potential for a massive bullish rally.

Data Source: Tradingview.com 

Shiba Inu (SHIB) – Price prediction and analysis

Looking at technical indicators, Shiba Inu (SHIB) is currently on a “buy zone”. In essence, the price offers the perfect chance for bulls to get in. But it hasn’t always been this way. SHIB has slumped decisively over the last few weeks, tanking 70% from its all-time highs.

But the meme coin has shown signs of recovery. At the time of writing, it was trading at $0.00002903, up nearly 7% in 24 hours. The downward trend appears to have reversed. 

While there is still a lot of downside risk, analysts see a potentially robust rally that could take SHIB to nearly $0.000078. Besides, whales still hold a huge chunk of SHIB. This could suggest they are also holding out for a rally.

Should you buy Shiba Inu (SHIB)?

Shiba Inu (SHIB) is a meme token that is highly volatile and risky. If you would like to use it as a speculative asset, probably wait a few days and gauge how sentiment changes in the wider crypto market.

If we start to see an increased investor appetite for risk, then SHIB would be a good buy. But until then, the meme coin still remains very risky.

The post Shiba Inu (SHIB) snaps sustained downtrend – Can it finally rally in 2022? appeared first on Coin Journal.