Reddit IPO could trigger spike in demand for sub-Reddit memecoins MOON and BRICK, data suggests

Key takeaways

  • Reddit’s stock ends trading at $50.44 per share, up by 48% on its market debut.

  • Sub-Reddit memecoins MOON and BRICK could rally higher on Reddit’s successful IPO. 

Reddit shares up by 48% on market debut

Social media platform Reddit finally debuted on the New York Stock Exchange (NYSE). The company’s stock, with a ticker symbol RDDT, began trading on the NYSE on Thursday, March 21st.

By the end of the trading day, RDDT was up by 48% as investors took the opportunity to buy the company’s shares. 

Reddit attracted investors despite the company not turning an annual profit since launching in 2005. However, the company promises investors that its content will be the training ground for artificial intelligence (AI) programs.

The company also recently struck a data licensing deal with Google worth about $60 million a year. This move further convinced investors that Reddit could soon turn over its loss-making fortunes. 

With Reddit now a publicly traded company, RDDT could soon join other stocks CFDs at OANDA, making it easier for investors to take a position on the future trajectory of Reddit’s share price.

Sub-Reddit memecoins MOON and BRICK could soar higher

With Reddit now a public company, data suggests that subreddit memecoins like MOON and BRICK could soar higher in the short term. r/CryptoCurrency Moons is one of the trending coins in the crypto market.

MOON is down by 20% over the last 24 hours. However, it is up by 70% over the last seven days. The token is used to reward active users who contribute to the r/CryptoCurrency subreddit. This is one of the most active subreddits on the platform. In October, the r/CryptoCurrency community removed moderators accused of insider trading

Meanwhile, BRICK is also up by 109% in the last seven days despite losing 21% of its value in the past 24 hours. BRICK is used for rewarding active users who contribute to the r/Fortnite subreddit. 

With Reddit’s opening day a success, these memecoins could soar higher in the coming days and weeks. Reddit is known to be home to meme investors. One notable event on Reddit was when a group of retail investors collaborated on the “wallstreetbets” subreddit to pump the shares of game retailer GameStop (GME.N). 

Reddit’s successful IPO could see investors buy more MOON and BRICK tokens, pushing the memecoins prices higher.  Despite the ongoing market correction, MOON and BRICK have shown bullish momentum in recent days.

The post Reddit IPO could trigger spike in demand for sub-Reddit memecoins MOON and BRICK, data suggests appeared first on CoinJournal.

The most ChatGPT-addicted countries

  • Bhutan leads in the adoption of ChatGPT, with a notable 15.96% of the population using the technology.
  • Brunei follows with a significant 9.37% utilization rate of ChatGPT.
  • The UK ranks 34th and the US ranks 39th on the list.

In an era where digital communication has become a cornerstone of daily life, the utilization of AI-powered chatbots has surged, offering a myriad of applications from customer service to personal assistance.

Among these, ChatGPT stands out as a sophisticated conversational AI, captivating users worldwide with its natural language processing capabilities.

According to Coinjournal.net‘s analysis, the countries most addicted to using ChatGPT are:

Rank Country Percentage of population using ChatGPT
1 Bhutan 15.96
2 Brunei 9.37
3 Singapore 9.30
4 Estonia 8.35
5 Australia 7.56
6 Philippines 7.24
7 Mauritius 7.24
8 Costa Rica 6.60
9 Malta 6.49
10 Belize 6.47
11 Sri Lanka 5.94
12 Switzerland 5.85
13 New Zealand 5.82
14 Canada 5.67
15 United Arab Emirates 5.57
16 Peru 5.53
17 Brazil 5.41
18 Maldives 5.28
19 Qatar 5.07
20 Fiji 4.87
21 Denmark 4.77
22 Panama 4.67
23 Luxembourg 4.54
24 Uruguay 4.44
25 Lebanon 4.31
26 Portugal 4.27
27 Norway 4.14
28 Chile 4.02
29 France 4.02
30 El Salvador 3.92
31 Ireland 3.89
32 Netherlands 3.87
33 Lithuania 3.82
34 UK 3.69
35 Croatia 3.55
36 Iceland 3.46
37 Nepal 3.24
38 Ecuador 3.20
39 USA 3.15
40 Germany 3.12
41 Namibia 3.05
42 Austria 3.04
43 Belgium 3.03
44 Finland 2.92
45 Botswana 2.92
46 Malaysia 2.91
47 Slovenia 2.91
48 Colombia 2.88
49 Paraguay 2.85
50 Montenegro 2.79
51 Latvia 2.76
52 Israel 2.76
53 Hungary 2.76
54 Taiwan 2.70
55 Bolivia 2.65
56 Sweden 2.64
57 Czech Republic 2.63
58 Argentina 2.62
59 Cyprus 2.60
60 Ukraine 2.60
61 Italy 2.55
62 Greece 2.54
63 Hong Kong 2.48
64 Moldova 2.24
65 Spain 2.10
66 Trinidad And Tobago 2.10
67 Guyana 2.06
68 Indonesia 2.02
69 South Africa 1.99
70 Poland 1.96
71 Guatemala 1.94
72 Suriname 1.94
73 Bosnia And Herzegovina 1.73
74 Honduras 1.71
75 Serbia 1.71
76 Tunisia 1.70
77 India 1.64
78 Japan 1.62
79 Nicaragua 1.53
80 Romania 1.50
81 Albania 1.45
82 Jordan 1.43
83 Oman 1.40
84 North Macedonia 1.39
85 Pakistan 1.37
86 Kuwait 1.33
87 Mexico 1.32
88 Bulgaria 1.32
89 Dominican Republic 1.31
90 Morocco 1.29
91 Jamaica 1.29
92 Korea 1.28
93 Bahamas 1.16
94 Thailand 1.11
95 Georgia 1.10
96 Solomon Islands 1.08
97 Bahrain 1.08
98 Turkey 1.06
99 Kazakhstan 0.96
100 Armenia 0.96
101 Kenya 0.95
102 Puerto Rico 0.88
103 Slovakia 0.88
104 Algeria 0.79
105 Rwanda 0.76
106 Ghana 0.73
107 Zambia 0.65
108 Vietnam 0.62
109 Mongolia 0.61
110 Kyrgyzstan 0.58
111 Saudi Arabia 0.50
112 Bangladesh 0.48
113 Papua New Guinea 0.45
114 Uganda 0.44
115 Azerbaijan 0.40
116 Myanmar 0.39
117 Haiti 0.39
118 Mozambique 0.37
119 Malawi 0.36
120 Nigeria 0.32
121 Timor-Leste 0.29
122 Senegal 0.29
123 Lesotho 0.28
124 Madagascar 0.25
125 Benin 0.24
126 Sierra Leone 0.22
127 Palestine 0.22
128 Egypt 0.20
129 Cote D’Ivoire 0.19
130 Gabon 0.19
131 Iraq 0.18
132 Venezuela 0.16
133 Togo 0.13
134 Tanzania 0.12
135 Congo 0.11
136 Cambodia 0.09
137 Libyan Arab Jamahiriya 0.09
138 Uzbekistan 0.08
139 Belarus 0.08
140 Burkina Faso 0.08
141 Angola 0.07
142 Mali 0.05
143 Zimbabwe 0.05
144 Russian Federation 0.05
145 Somalia 0.04
146 Cameroon 0.03
147 Ethiopia 0.02
148 Niger 0.02
149 Afghanistan 0.02
150 DR Congo 0.00

Bhutan

Leading the pack, Bhutan demonstrates an impressive adoption rate, with approximately 15.96% of the population engaging with ChatGPT. This signifies a widespread integration of NLP technologies into digital ecosystems within the country.

Brunei

Brunei exhibits a substantial utilization rate of ChatGPT, with around 9.37% of the population embracing AI-driven conversational interfaces for diverse applications.

Singapore

Singapore showcases a remarkable engagement rate with ChatGPT, with approximately 9.30% of the population actively utilizing the technology in various digital contexts. This indicates a strong inclination towards adopting cutting-edge AI technologies.

Estonia

Estonia boasts a noteworthy adoption rate of ChatGPT, with approximately 8.35% of the population actively engaging with the technology. This highlights the nation’s tech-savvy populace and their inclination towards leveraging AI-driven solutions for communication and automation tasks.

Australia

Down Under, Australia boasts a usage rate of 7.56%, reflecting a widespread acceptance of AI-driven conversational tools. 

Philippines

ChatGPT garners significant traction with a usage rate of 7.24%. 

Mauritius

Mauritius embraces ChatGPT with a usage rate matching that of the Philippines (7.24%), indicating a growing reliance on AI-driven communication solutions among its populace.

Costa Rica

Central America’s Costa Rica exhibits a keen interest in ChatGPT, boasting a usage rate of 6.60% according to Coinjournal’s data.

Malta

With a usage rate of 6.49%, Malta emerges as a notable user of ChatGPT, which is not surprising considering how many iGaming companies have their offices there.

Belize

Rounding out the top 10 is Belize, where ChatGPT enjoys a usage rate of 6.47%. 

United Kingdom (UK)

While not leading the pack, the United Kingdom demonstrates a substantial interest in ChatGPT, with a usage rate of 3.69% based on unique monthly visits, as per Ahrefs data. This is indicative of the technology’s integration into the daily lives of Britons, from digital assistance to entertainment.

United States (USA)

Similarly, the United States registers a usage rate of 3.15%, reflecting the widespread adoption of ChatGPT across various sectors, including business, education, and entertainment, underscoring its status as a global leader in technological innovation.

Methodology: The approach taken involved obtaining data on the number of unique monthly visits from Ahrefs and population statistics from worldometers.info for each country. Using this data, the percentage of the population engaging with ChatGPT was calculated.

The post The most ChatGPT-addicted countries appeared first on CoinJournal.

Crypto price predictions: Bitcoin Dogs, Ribbon Finance, Sui

Cryptocurrencies have had a difficult performance this week as many investors started to take profits. Bitcoin price retreated to a low of $62,000, down from last week’s high of $73,500. Other coins like Ethereum, Render, Solana, and Near Protocol also dipped. 

This decline also happened as many Grayscale Bitcoin Trust (GBTC) holders liquidated their positions because of the significant fee. GBTC has an expense ratio of 1.50%, higher than the iShares Bitcoin Trust’s (IBTC) 0.25%. This article looks at some of the top cryptocurrencies to watch like Bitcoin Dogs (ODOG), Ribbon Finance (RBN), and Sui.

Ribbon Finance price forecast

Ribbon Finance is a Decentralized Finance (DeFi) platform that enables users to earn sustainable yield through decentralized options and lending. The platform has over $34 million in total value locked (TVL). Its Ribbon Earn and Ribbon Lend also have millions in assets.

RBN price has done well in the past few weeks as it jumped from last year’s low of $0.1462 to a high of $1.91 this month. This was a 1,231% increase from bottom to the top. Its market cap has jumped to more than $746 million. 

Ribbon has constantly remained above the 50-day and 100-day Exponential Moving Averages (EMA), which is a bullish sign. Most recently, it has formed a bullish engulfing candlestick pattern and then rose for three straight days.

My view is that the coin is attempting to form a double-top pattern, meaning that it may continue rising as investors continue buying the dip. If this happens, the next point to watch will be at $1.70, which is about 23.47% above the current level. This view will become invalid if the price crashes below this week’s low of $1.2050. 

Bitcoin Dogs price prediction

Bitcoin Dogs is one of the best-performing new cryptocurrencies this year. The developers recently ended its token sale, which raised over $13 million in just a month. This made it the best-performing token sale in the industry.

Bitcoin Dogs is yet to go public in centralized and decentralized exchanges (DEX) but the developers have pledged that this will happen soon.

There are a few reasons to be optimistic about this. First, the token launch will happen in a time when the crypto industry is in a bull market. The total market cap of all cryptocurrencies has jumped to more than $2.6 trillion.

Second, it is one of the most hyped cryptocurrencies in the market. It already has thousands of holders, which is a good thing. Also, the developers are working to create real utility for the token. This will include features like a 1,000 NFT collection and a gaming platform.

Most importantly, most of the newly launched meme coins have done well. This includes tokens like Book of Meme, Solama, and Pepe. You can learn more about Bitcoin Dogs here.

Sui price prediction

Sui has evolved to become one of the best-performing cryptocurrencies. Its blockchain project has attracted hundreds of developers and thousands of users. As a result, the total value locked (TVL) in the ecosystem has jumped to a record high of over $700 million.

Sui price has been in a strong bullish trend this year. It has risen in the past three straight days and is now hovering near its highest point since February 15th. The token has constantly remained above the 50-day and 100-day Exponential Moving Averages. 

Therefore, Sui token will need to clear the important resistance point at $1.9697, its highest point in February to invalidate the double-top pattern. If this happens, it will open the possibility of it soaring to $2.50.

The post Crypto price predictions: Bitcoin Dogs, Ribbon Finance, Sui appeared first on CoinJournal.