Schlagwort: crypto business

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VeChain price prediction as VET mirrors Ethereum (ETH)

  • VeChain (VET) price was at $0.023, down 5% in the past 24 hours, while Ethereum (ETH) traded near $1,940.
  • Both altcoins have retreated from recent highs amid profit deals and as Bitcoin drops below $36k.

VeChain (VET) broke higher earlier this month as the crypto sentiment around Bitcoin and Ethereum ETFs combined with other positive news to buoy buyers. VET surged as high as $0.023, the cryptocurrency’s highest level since April 30.

But in reaching a six-month high, VeChain welcomed profit takers amid similar struggles for crypto and equities. Indeed, VET/USD is down 5% in the past 24 hours and nearly 8% this past week. 

VeChain’s 30-day gains are currently trimmed to just over 26% as price falls to $0.020.

VeChain price outlook as ETH eyes major support area

The struggles for VET price come as the top altcoin by market cap Ethereum battles to hold onto gains above $2k. Ether price is changing hands near $1,940 at the time of writing, down 3% in the past 24 hours and nearly 9% this past week.

Ethereum price chart

ETH touched highs of $2,136 on November 10, but has given up some of the gains as it fell to lows of $1,906. A return above the psychological $2,000 level is key to a bullish continuation. An analyst has predicted ETH could jump to $3,100. 

If ETH/USD falls below $1.9k, its possible bears will target $1,740.

Looking at VeChain, we see a similar scenario where bulls are struggling to shed the sell-off pressure after prices spiked to multi-month highs.

VeChain price chart

Just as with ETH, VET’s daily chart shows a negative outlook suggested by the RSI and MACD indicators. If price falls below $0.020, downside momentum could push the cryptocurrency to $0.018. 

Further support could be found between $0.016 and $0.014.

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Filecoin (FIL) retreats to key level as Bitcoin struggles near $36k

  • Filecoin (FIL) risks deeper pullback as price retreats to key level.
  • FIL traded near $4.6 on Friday afternoon, about 8% down in the past 24 hours.
  • If prices fall further, bulls could rely on primary support near $3.1 to $2.7

Filecoin (FIL) price is likely to retreat below a critical support level after the altcoin’s performance mirrored the struggles seen in the Bitcoin (BTC) market in the past 24 hours. Filecoin price was changing hands around $4.6, down roughly 8%.

FIL price outlook – will bulls hold onto gains?

While bulls could rebound off the $4.2 price level, the technical outlook presents a potential dip to lower buffer areas.

The 8% decline in FIL value the past 24 hours adds to this observation, particularly if Bitcoin, Ethereum and other top alts fail to find a bounce to stem current bleeding.

Filecoin price chart. Source: TradingView

The technical view presents a picture of uncertainty after bulls got rejected at $5.6 and then gave up $4.7. 

We can see both the daily RSI and MACD indicators are signalling weakness, with the RSI indicator above 50 but downsloping. The MACD indicator suggests a bearish flip.

In terms of a bearish outlook, Filecoin risks falling to the $3.9 support line, with extended downward pressure here likely to push FIL/USD to the critical demand reload zone between $3.1 and $2.7.

However, the 19% decrease in daily trading volume points to a potential flip in sell pressure.  As such, the opposite setup could see FIL rebound off the $4.2-$4.4 area to reclaim $5.0 as support.

If this happens, a move to the recent six-month peak above $5.6 could allow bulls to attack $6.5. The short term picture could pave way for more bullish movements should the broader market provide favourable conditions.

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Former Bithumb chairman faces eight-year prison sentence

  • Lee Jeong-hoon, former Bithumb Chairman, faces an eight-year prison term.
  • Prosecutors assert Lee misled Kim about joint Bithumb management, BXA Coin listing, and restructuring to evade financial regulations.
  • The January 18, 2024, appeal verdict holds industry-wide implications in South Korea.

Lee Jeong-hoon, the former chairman of Bithumb, one of South Korea’s major cryptocurrency exchanges, is at the centre of a legal battle in an appeal whose verdict is scheduled for January 18.

The outcome of Lee’s appeal could establish a precedent for legal systems addressing cases involving cryptocurrency exchanges and governance. The development comes as Bithumb plans for an IPO on KOSDAQ by 2025.

The allegations against Lee Jeong-hoon

Lee Jeong-hoon’s legal troubles revolve around allegations of violating the Act on Aggravated Punishment for Specified Economic Crimes, with a focus on fraud. The prosecution claims he orchestrated a 110 billion won fraud involving BK Group Chairman, Kim Byung-geon. The charges stem from a deal where Lee allegedly offered Kim the opportunity to acquire and co-manage Bithumb, coupled with promises to list BXA (Bithumb Coin) on the exchange.

Prosecutors argue that Lee planned to restructure Bithumb’s governance to profit from exchange coins while sidestepping financial regulations. They assert that Lee was aware of the challenges in listing BXA Coin but failed to disclose this information to Kim. As listing difficulties arose, Lee allegedly continued to receive payments without informing Kim of the decision not to list BXA Coin.

According to a local South Korean media outlet, South Korean prosecutors requested an eight-year prison sentence for Lee Jung-hoon.

Lee’s defence team counters these claims, highlighting inconsistencies in Kim’s statements and questioning his credibility. Lee maintains his belief in Kim’s capability to lead Bithumb, asserting that Kim was aware of the progress regarding BXA Coin’s listing.

Implications for the cryptocurrency industry

The case underscores the intricate regulatory landscape of the cryptocurrency industry and its potential impact on investor confidence.

The fate of Bithumb and the future of BXA Coin are closely tied to the appeal’s outcome. A conviction may prompt a reevaluation of governance structures in crypto exchanges, potentially leading to more stringent regulatory measures.

As the cryptocurrency community and investors await the appeal verdict, the case serves as a stark reminder of the evolving nature of the industry. It emphasizes the need for clear regulatory guidelines to address governance issues and maintain trust among investors and stakeholders.

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Shiba Inu up by 5% this week as Memeinator’s presale approaches $1.5 million

Key takeaways

  • Shiba Inu is up by 5% over the last seven days despite the recent market retracement.

  • Memeinators presale is now close to reaching the $1.5 million milestone. 

Shiba Inu performed well over the last seven days, adding 5% to its value. However, it has been underperforming over the last few hours as the market undergoes a retracement. This hasn’t stopped the Memeinator presale from closing in on the $1.5 million milestone. 

Shiba Inu stays above $0.000008

The cryptocurrency market has been underperforming over the last few days. However, SHIB, the native coin of the Shiba Inu ecosystem, remains above the $0.000008 level.

SHIB is up by more than 5% over the last seven days despite giving up some of its earlier gains. At press time, the price of Shiba Inu stands at $0.00000874. SHIB’s poor performance over the last few days coincides with a retracement in the broader market. 

BTC has lost more than 3% of its value over the last few hours. At press time, the price of Bitcoin stands at $36,448 per coin. 

What is Memeinator?

The crypto market has been performing well since the start of the year and investors are looking for new and exciting projects to invest in. Memeinator could be one of the projects to consider. 

Memeinator is a Web3 project that is taking advantage of the meme coin wave and seeks to provide numerous utilities to users. According to the team, the prime focus of the project is to eliminate worthless memes and improve content creation for users. 

Memeinator also wants to become one of the top meme coins in the cryptocurrency space. The team intends to provide utilities that would see Memeinator reach a $1 billion market cap in the medium term.

The project wants to leverage AI technology to identify worthless memes, allowing investors to know them and avoid them. 

The Memeinator presale is currently in its sixth stage and the team has raised more than $1.4 million. The MMTR price began the presale at $0.01 per token, and the price will rise to $0.0485 by the end of the presale, giving early-bird investors a whopping 132% ROI at listing.

The team said they would launch a Memeinator game at the presale’s conclusion. The Memeinator game players will have the opportunity to eliminate enemy memes to win some exciting prizes. 

Why is the Memeinator presale growing so fast?

Memeinator continues to attract more investors as it offers excellent use cases to content creators within the Web3 ecosystem and beyond. What makes Memeinator unique is that it is appealing to a wide range of audiences, from degens to crypto natives and speculators.

The project will leverage AI to analyze and evaluate memes on the internet. It will identify low-quality memes and replace them with superior ones. Memeinator is also dedicated to uplifting meme culture and quality.

Per the team, holders and network participants will earn incentives for using the Memeinator network. Its native MMTR token has some excellent features, such as deflationary mechanisms and rewards for holders, incentivising the project for holders in the long term. Furthermore, 20% of the tokens are allocated for marketing, CEX listing and liquidity. 

Click here to read more about the Memeinator presale.

Why should you invest in Memeinator? 

The Memeinator project has so far raised over $1.4 million and it is currently in its sixth presale stage. The platform will leverage AI technology and blockchain to provide excellent value to investors in the medium and long term.

With a market cap target of $1 billion, early investors could record massive gains in the medium term if that happens. 

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Dogecoin rallies by 10% this week: Will other meme coins follow suit?

Key takeaways

  • Dogecoin is up by 10% over the last seven days, outperforming the broader market.

  • Shiba Memu’s presale has officially crossed the $4.5 million mark.

The cryptocurrency market has had a poor week so far, with Bitcoin and Ether both underperforming. However, DOGE has been one of the best performers over the last few days. 

DOGE outperforms the market

DOGE, the native coin of the Dogecoin ecosystem, is one of the best performers amongst the leading cryptocurrencies by market cap. It is up by more than 7% in the last 24 hours, outperforming the broader market.

Several altcoins have been rallying over the past few weeks and meme coins might be warming up next. DOGE outperforming the market could see other meme coins like Shiba Inu and PEPE follow suit. 

What is Shiba Memu?

Shiba Memu is working to become one of the leading meme coins in the world. It is a Web3 project that seeks to combine the features and functions of blockchain technology and artificial intelligence (AI) to change how companies and individuals approach digital marketing. 

Shiba Memu will offer a wide range of services to marketers within the Web3 ecosystem and beyond. Some of the services it would offer include content creation, marketing, social media advertisement, and creative advertisement. 

Per the team, Shiba Memu will leverage AI to identify the best creative adverts and improve on them to provide superior content marketing services to users. 

The decision to launch as a meme token was because the development team sought to leverage the popularity of meme coins. Since 2021, meme coins saw their market caps grow from practically $0 to now stand at $35 billion.

While most meme coins lack use cases, Shiba Memu will be different. As a marketing meme coin, Shiba Memu will allow users to create marketing strategies, roll out PR schedules, and promote campaigns on relevant forums and social media platforms. Currently, the project is available on the Ethereum and BNBChain blockchains. 

Shiba Memu’s presale surpasses $4.5 million

The cryptocurrency market has had an excellent start to the month and this has reflected in the prices of most coins and tokens. Shiba Memu has continued its excellent presale performance, and the team has now raised more than $4.5 million.

Most of the funds generated via the presale would be channelled towards the development of the Shiba Memu products and services. The Shiba Memu AI technology is its most important product and will have priority over the others. 

The Shiba Memu marketing platform comes with a robotastic dashboard, allowing users to interact with the AI, provide feedback, make suggestions, ask questions, and more.

Click here to find out more about Shiba Memu’s presale event.

Shiba Memu price prediction

Bitcoin and other major altcoins have been underperforming this week. However, DOGE remains one of the best performers amongst the top 20 cryptocurrencies by market cap.

Despite the market performance, it is hard to accurately predict Shiba Memu’s price in the near term since the project is still in its presale stage. However, at the moment,  1 SHMU = 0.041500 USDT. The token’s price increases every day at 6 pm GMT and is set to trade at 0.041725 USDT per token in a few hours. 

At the start of the presale SHMU was trading at $0.011125, and it has seen a remarkable increase in price since then. The SHMU token can be purchased using Ethereum, USDT, BNB and BUSD

Should you buy Shiba Memu or wait till the launch on exchanges?

The best times to invest in a project are during its presale or when there is a market pullback. This is because it is during those periods that tokens and coins are sold at discount prices. 

Shiba Memu has the potential to become one of the top meme projects in the world, thanks to its utility in the market industry. By using AI and blockchain technologies, Shiba Memu could offer massive utilities to companies and individuals carrying out marketing campaigns. 

Massive adoption of Shiba Memu could see its SHMU token record excellent gains once it starts trading on cryptocurrency exchanges. 

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