Kategorie: Crypto Analysis

• Shiba Memu brings AI to the meme sector, giving it the potential to become sustainable.

• Investors have bought over $3.4 million of Shiba Memu as investor interest returns on Shiba Inu.

• Shiba Memu could benefit from AI and meme mania to follow the price trends of her peers.

Meme cryptocurrencies are an exciting asset class. The interest emanates from the ability to return by triple or more digit percentages in a short period. Shiba Inu, one of the leading meme cryptocurrencies, has been under increased whale buying lately. Conversely, Shiba Memu (SHMU), a meme token on presale, has been riding the meme mania. Investors have bought over $3.4 million, banking on the prospects of a disruptive AI meme project. 

Does Shiba Inu buying suggest a rally is coming?

Shiba Inu’s transaction value crossed the $47 million mark on September 21. The intense buying has coincided with the stabilisation of Shiba Inu’s price above $0.000007. Although no bullish signs have been recorded so far, the buying suggests the selling pressure is low. Consequently, a price recovery could be on the horizon as the risk sentiment improves. 

Overall, Shiba Inu’s interest implies a strong belief in meme crypto investments. The meme sector market has grown to over $20 billion in market cap from $0 in early 2020. Due to the growth potential, the search for quality meme projects has been on. A potential rally in Shiba Inu could boost sentiment and benefit upcoming tokens such as Shiba Memu.

Shiba Memu, a bigger Shiba Inu rival?

In comparison, Shiba Memu and Shiba Inu are both meme cryptocurrencies. They are driven by hype and market sentiment. 

However, unlike its predecessor, Shiba Memu is novel as it taps into the power of AI. Shiba Memu uses AI to self-market itself and become powerful. As such, it can self-promote on social networks and forums, helping it generate online frenzy. 

The self-marketing concept is crucial to the value proposition of Shiba Memu. Rivals like Shiba Inu have relied on social media frenzy and influencers to gain traction. When the frenzy is lacking, these tokens relinquish gains. Due to this reason, investors have decried the lack of sustainability in the meme sector.

Leveraging AI for self-marketing makes Shiba Memu capable of delivering sustainable returns. AI works 24/7, learning all the time and reinventing its marketing interventions. Shiba Memu team believes the capability can enable the project to become a leader in the crypto market. 

Shiba Memu’s unique presale attracts investors.

Unlike other presales, Shiba Memu is unique and beneficial to its investors. The token is made to rise each day on presale at 6 PM GMT. For instance, while SHMU’s initial price was $0.011125, it has now risen to $0.030475. 

Supposing you bought the token at the initial price, you receive nearly three times the current value. The price will continue to increase up to the end of the presale. The tokenomics guarantees returns for investors buying at the presale.

Shiba Memu prediction in 2024

Predicting a meme cryptocurrency is speculative since these tokens have heightened volatility. Nonetheless, the price movements of other meme cryptocurrencies can help predict SHMU.

Reflecting, meme tokens like Dogecoin, Shiba Inu, and PEPE have been market movers. Dogecoin has moved from being labelled as a joke coin to the top 10 tokens by market cap. Shiba Inu retains the second spot among the most valuable meme cryptocurrencies. PEPE surprised the market this year as it returned by over 10,000%.

The above points to the potential that Shiba Memu carries. The value could rise suddenly when the token is listed on centralised exchanges in 2024. The price could be boosted by the frenzy around meme tokens and the AI application. With signs of a stabilising crypto sector, Shiba Memu could also benefit from improved sentiment to gain value.

The post Is a meme rally coming? Whales SHIB buying as Shiba Memu presale crosses $3.4m appeared first on CoinJournal.

• Chancer nears presale sellout in stage 3 as amounts raised surpass $2.39 million.

• Investors are attracted to Chancer’s decentralised betting feature

• Chancer could rise by up to 10x in the future as P2P betting grows

Betting has, for a long time, been centralised. Bookmakers control the platforms and decide betting rules and odds. However, this is changing with blockchain, with the idea of giving betting control to wagers. Chancer endeavours to become the world’s first decentralised platform for bettors. Users can set betting events and create rules and odds for successful bets. The decentralisation has attracted investors, who have accumulated over $2.39 million tokens in presale.

How does Chancer work?

Chancer covers two betting mechanisms: conventional betting and social betting. Conventional betting is for known events like football, basketball, marathons, etc. It is akin to traditional betting but with a touch of blockchain.

Social betting has been the most innovative feature of Chancer. This is where users bet against their peers in uncommon or private events. Let’s look at it in a hypothetical scenario:

Assume you have a local marathon that is barely known outside your area. You don’t expect such an event to feature on your usual betting platform. But you want to bet on the event with a friend, say Marathoner A or B wins it. Both of you hold contrary opinions. 

So, you can create a secure P2P market via Chancer and bet on the outcome. The winnings are secured through the blockchain platform. You can do so for several other social events with anyone, regardless of where they are. 

With social betting, Chancer opens up endless opportunities for day-to-day occurrences. This allows Chancer to open new ways to bet and grow. Users also have fun betting on their preferred social events. 

Is Chancer attractive?

Chancer could be attractive to speculators and investors. Chancer token powers a real-world use case, betting, which has increased rapidly in the past decade. As the platform attracts users, the value of Chancer could skyrocket, benefiting the speculators. The hot-selling presale gives a glimpse of the post-listing potential for the token. 

An exciting prospect of passive income generation also makes Chancer attractive to investors. Chancer rewards users for creating custom P2P markets and sharing the platform. The features make the platform attractive beyond betting, which could fuel the demand and price for the token.

Chancer is also built by its community. Users can participate in the platform growth by allocating some of their tokens through a staking feature. Investors who stake their tokens earn yields to supplement their passive incomes. 

Stage 3 presale nears sellout, with token rising to $0.013 

Chancer opened the presale at a bargain price of $0.01, which quickly sold out. The price entered the second stage at $0.011, selling out on solid demand. In the third stage, the price of Chancer is $0.012, with investors still showing interest. The stage is almost done, which will pave the way for the next price increase to $0.013.

At the end of the presale, early investors will get more valued tokens than they bought. This means investing in the token at its earlier stage offers a better opportunity. Investors could also look at the listing roadmap, which sets the token debut on exchanges in Q3 2023. As the token is listed, the price could embark on an upward trajectory as it unlocks more demand.

What is the price potential of Chancer in 2023?

Early indications of demand suggest that Chancer could rise by strong margins after getting listed. A clear project roadmap and betting momentum give Chancer a strong price potential.

Analysts have earmarked up to a 10x increase in value after the token is listed. The prediction is realistic, although the gains could occur in the medium to long term on platform use. In 2023, investors could settle for up to three-digit percentages as speculations intensify.

The post Chancer presale keeps momentum, but how attractive is the P2P betting platform token? appeared first on CoinJournal.

• Memeainator raised more than $300k a few days after starting its token sale.

• WorldCoin token surged as the developers increased their focus on emerging markets.

• Chainlink gained traction as demand for its tokenizatioon products rose.

Cryptocurrency prices had a strong performance this week as they defied the gravity we saw in other assets like stocks and bonds. Bitcoin price jumped to over $27,000 even as the Russell 2000 index moved to the bear market. In all, the total market cap of cryptocurrencies jumped to over $1.07 trillion. This article looks at some of the top cryptocurrencies to watch, including WorldCoin, Memeainator, and Chainlink. 

Memeainator analysis

Memeainator (MMTR) was one of the top breakout stars in the crypto industry this week. The developers launched a highly successful token sale on Wednesday, which has raised more than $391k from investors around the world. The token is going for $ 0.011 and is set to continue rising throughout the token sale. It can be bought using ETH, USDT, and USDC.

Memeainator aims to be the biggest meme coin launch this year. For one, unlike other meme coins that lack utility, Memeainator will have genuine utility. For example, the token will provide holders with access and perks when they launch new products like the Memeainator Game and MemeScanner. 

Most importantly, Memeainator will also embrace artificial intelligence (AI), the fastest-growing technology in the world. Just this week, Amazon invested $4 billion in Anthropic, a company that has built a generative AI project. Memeainator will use AI to automate its marketing with the goal of reaching as many people as possible. 

Also, Memeainator is also in the meme coin industry that has created many wealthy people in the past few years. There are countless Shiba Inu, Dogecoin, and Pepe millionaires today. You can read Memeainator white paper here and buy the token here.

WorldCoin price prediction

WorldCoin’s WLD token did well this week as it jumped to a high of $1.90, the highest level since August 10th. The token’s rally was mostly because of the overall crypto rally that we saw during the week.

WorldCoin also rallied after the developers announced plans to expand the network to the emerging markets. It has now signed up more than 2.32 million people using the Orb device, mostly in the developing and EM markets. It is also gaining some traction in some developed countries, especially Portugal, where 1% of the population has signed in,

The 4H chart shows that the WorldCoin price jumped to a high of $1.90, the highest level since August. It has moved above the 25-period and 50-period moving averages. Along the way, the coin has formed a rising wedge pattern. In price action analysis, this is one of the most bearish patterns in the market.

Therefore, there is a likelihood that the token will have a bearish breakout as sellers target the next key support at $1.60.

Chainlink price prediction

Chainlink was one of the top-performing major cryptocurrencies this week as demand for tokenization continued. The LINK token jumped to a high of $8, the highest level since July this year. At its peak, it was up by more than 40% from the lowest level this month. 

Chainlink is being supported by strong fundamentals and the 50-day and 25-day moving averages. It has also formed an ascending channel shown in black while the Relative Strength Index (RSI) has pointed downwards. Therefore, I suspect that the LINK price will retreat slightly during the weekend as investors take profits. This view could see it drop to the key support at $7.50.

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• Bitcoin price remains resilient despite the US dollar’s strength
• A bullish divergence with the RSI supports Bitcoin’s price action
• The horizontal consolidation might be part of a bullish flag pattern

This is the last trading week of Q3 2023, and investors already have plans for the last quarter of the year. Bets are made both ways of the dollar, especially since September brought such a strong rally. 

For instance, EUR/USD traded today below 1.05, as the bearish trend from 1.12 continued. Most of the decline was in September. 

Investors bought the dollar and dumped stocks. After all, the Fed is still restrictive and talks hawkish. 

But in all this strong dollar environment, there is one market that, surprisingly, was (relatively) stable. 

Bitcoin. 

Bitcoin chart by TradingView

Bullish divergence with the RSI supports Bitcoin’s bullish case

Bitcoin rallied at the start of 2023, jumping from below $17k to above $30k in April. But after that, a horizontal consolidation started, and Bitcoin couldn’t rally anymore. 

However, by staying relatively flat and holding on to most of its gains, Bitcoin shows strength not seen in other markets. When the US dollar rallied, Bitcoin held the ground all this time, albeit it did correct a bit from the yearly highs. 

A quick look at the Relative Strength Index (RSI) reveals a bullish divergence that formed recently. It supports the bullish case for Bitcoin, and now all eyes are on the upper edge of the horizontal channel. 

Speaking of the channel, it may be part of a bullish flag formation. If that is the case, a bullish breakout should be followed by a measured move equal to the rally seen at the start of the year. 

The post Bitcoin price sits at inflation point; RSI indicates more upside appeared first on CoinJournal.

• Cosmos gave up all of its 2023 gains and some more
• The $15 level acts as a pivotal one
• The bias remains bearish while trading below resistance

Many cryptocurrency investors were thrilled to see Bitcoin and most cryptocurrencies rallying at the start of 2023. It was supposed to be the start of a new bullish market. 

But some cryptocurrencies, especially the leading ones, hold onto most of their gains. For instance, Bitcoin’s price is still relatively close to its 2023 highs. 

However, this is not the case for smaller projects in the cryptocurrency market. Most of them erased the 2023 gains and some more. 

One example is Cosmos (ATOM/USD). It met resistance at the $15 area and then lost more than 50% of its value, erasing all 2023 gains and keeps diving. 

Cosmos chart by TradingView

The daily chart shows a bearish picture while below $15

In 2021, Cosmos reached $45. It failed at the level twice, putting a double top pattern that marked its historically high levels. 

That was the first bearish sign pointing to what was about to follow. 

Next, the market formed a reversal triangle. When it appears at the top of a bullish trend, it implies that a complex correction might have ended. Most of the time, such corrections are fully retraced. Hence, the break below $25 in the first half of 2022 should not have surprised anyone. 

Finally, the most recent price action is not encouraging either. The constant failure at $15, which proves to be strong resistance, keeps a bearish bias on Cosmos. Only a daily close above would shift the bias from bearish to bullish. 

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