Schlagwort: crypto market

• Ripple’s bearish momentum continues
• A descending triangle points to a drop to $0.4
• A head and shoulders pattern paints a gloomy picture for Ripple

There is no break from the bearish momentum in the cryptocurrency market. Unless you are invested in Bitcoin, the suffering from being on the long side of any other coin has been tremendous. 

Take Ripple (XRP/USD), for example. 

After spiking close to $1 during the summer, it quickly returned all its gains. Basically, a classic pump-and-dump price action, enough to attract late newcomers to the party, only to see their investment quickly disappear. 

More problematic is the recent price action. It gives no signs of the bearish pressure easing anytime soon. 

Just the opposite, as the market appears to form a bearish continuation pattern – a descending triangle. 

Ripple chart by TradingView

Descending triangle points to a quick move to $0.5

As a bearish continuation pattern, a descending triangle hints at more downside to come. Its measured move equals the length of the longest segment of the triangle – in this case, it signals a drop to $0.4. 

The main feature of such a triangle is the fact that bounces from horizontal support are smaller and smaller until, eventually, support gives way. 

On an even bigger scale, the descending triangle might just be the right shoulder of a head and shoulders pattern. If that is the case, the spike during the summer months close to the $1 area would be the head of the pattern. 

If a head and shoulders pattern does materialize, Ripple has much more room to the downside than bullish investors would want to assume now. 

The post Ripple drops another 2% today: a descending triangle points to more downside appeared first on CoinJournal.

• Shiba Memu presale is nearing its conclusion, with 13 days left.

• The price of Shiba Memu has increased consistently each day on presale.

• The value of Shiba Memu could be unlocked from post-listing liquidity in Q3 2023.

With millions raised in presale, investors hold high hopes for a new token sensation, Shiba Memu. The meme token has enjoyed a stellar presale, with daily price increases the icing on the cake. Now, FOMO could be gripping investors, as increased buying takes the presale to almost $4 million raised. The presale is on a 13-day countdown to close, after which the token could rise massively on the listing.

About Shiba Memu presale

Shiba Memu (SHMU) opened its presale in July, initially set to be an 8-week process. However, high demand and investor requests prompted the team to extend the presale by another 60 days. The extended presale concludes on October 31st, paving the way for the next step, listing.

Since launching the presale, Shiba Memu has generated value for its early backers. From an initial price of $0.011125, the token is now valued at $0.034750. The gains have been made possible by the project tokenomics. The tokenomics allow the Shiba Memu price to increase automatically daily at 6 PM GMT. The price is expected to rise further within the 13-day window to the end of the presale. 

Once the presale ends, Shiba Memu will be listed on major centralised exchanges. The team has earmarked the last quarter of 2023 as the time for listing. Debuting on the best exchanges is expected to unlock utility and facilitate the price discovery for Shiba Memu.

Why has Shiba Memu attracted such a high demand?

The speculative value of Shiba Memu is huge, considering the amounts raised in presale. This is one of the critical ingredients of meme cryptocurrencies, as their value is driven mainly by hype. However, Shiba Memu’s ability to convince investors of its market potential has got many talking.

Boosting cutting-edge AI technology, Shiba Memu aspires to be a leader in the meme sector. The project uses AI to self-promote on social forums and dominate online chatter. Shiba Memu can write its own social copy and marketing materials using AI. It then self-publishes the content across social media platforms to gain traction.

The AI and marketing prowess make Shiba Memu an ingenious and highly sustainable project. It doesn’t depend on temporary social media hypes to dominate. With this capability, Shiba Memu has been hailed as one of the most innovative meme projects. Investors also earn yields from staking, which lets them commit some tokens to the project’s growth.

Shiba Memu also taps into the power of a dedicated community to achieve success. The project team has allocated 85% of its 1,000,000 tokens in supply for the presale. Once the project is launched, Shiba Memu will engage its community through an AI dashboard. Users can channel their market insights into conversations through the dashboard. They can query the AI and get up-to-date answers on marketing strategies and advertising trends.

Is Shiba Memu worth buying in the presale?

Meme cryptocurrencies always generate FOMO due to the ability to return massively after listing. Reflecting on some of the top meme coins like PEPE, gains have exceeded 10,000%. Others, like meme leader Dogecoin, have hit a market cap that justifiably puts them on the top ten list. 

Shiba Memu carries the same potential owing to the early demand and investor enthusiasm. Investors could see a potential 10x gain or higher if the token replicates the returns of its meme peers.

Shiba Memu is only on a presale, and post-listing gains could be a little distant. The presale has 13 more days to run, with gains made each day. Investing in the presale is advantageous in maximising organic profits. Presale backers will also carry a better chance of riding an uptrend once the token is listed. 

The post Shiba Memu’s investment gold rush as the countdown to presale close begins appeared first on CoinJournal.

• Memeinator will return by 132% during its 29 presale stages

• The project has utility in AI, staking, Web 3.0 gaming, and NFTs

• Memeinator could replicate meme gains, with about a 1,000% surge in potential

What’s the future of meme cryptocurrencies? Undeniably, the meme coin sector has exponentially grown from a market cap of $0 in 2020. In August 2023, cumulative trading of meme tokens peaked at $36 billion. However, the meme sector has not been without controversies. Parody and fake projects have been a thorn to investors. Memeinator promises to clean the sector using cutting-edge AI technology. The project’s token has been on presale, with investors buying over $748,130 in less than 3 weeks.

Is Memeinator the best meme crypto project of 2023?

It is still too early to speculate whether Memeinator will be the best meme coin of 2023. However, there are suggestions it could be the most attractive project.

First, Memeinator is the first of its kind in the meme space. The project’s mission is to destroy pathetic and non-original memes. Memeinator relies on AI capabilities to crawl the web and find weak memes. The aim is to wipe them and only allow the strong ones to survive. The unique utility has made Memeinator the talk of the meme industry, gaining traction and fueling its presale.

Memeinator’s strengths also lie in its genius marketing activities. The team will invest heavily in branding to generate an online frenzy and boost the token’s price. The idea is to dominate the meme crypto space to reach a $1 billion market cap.

The tokenomics also position Memeinator as one of the most attractive tokens of 2023. By the end of a 29-stage presale, which kicked on September 27, the token’s value will have risen by 132%. Investors who bought at its initial $0.01 will be rewarded with tokens worth $0.0485. The return could be one of the highest in crypto at a time when the market is reeling from a bear market.

What factors will drive Memeinator’s price?

The most significant factor that could drive Memeinator price is the AI use. Analysts have earmarked AI as the next iteration, with blockchain as one of the key beneficiaries. Memeinator understands this transformation and is positioning itself for the future. 

Memeinator is also backed by a resistance community of like-minded users. The users, “meme killers,” are spread through the platform’s social pages. Within 20 minutes of the project’s site going live, over 5,000 people joined its Twitter and Telegram pages. Memeinator will bank on the community to hype the project and keep it on its toes to domination.

While the speculation on Memeinator will be a key price driver, future sustainability will depend on utility. To achieve this goal, Memeiantor has several projects lined up. One is a staking feature that will let the community allocate some tokens to the platform for a reward. Staking will unlock liquidity and protect MMTR from downsides when market dynamics are against it. 

Memeinator also gears to launch a game at the end of the presale. Like other Web 3.0 games, this will be crucial to keeping an engaged community and raising MMTR demand. There are also exclusive NFTs, initially for presale buyers, that will unlock MMTR value.

Should you buy Memeinator?

Memeinator carries considerable potential owing to its unique utility and use cases. After achieving a flying start, a gain of 1,000% shouldn’t be wished away. The gains reflect the momentums that meme cryptocurrencies have posted in the past.

Further surges in the price are possible as Memeinator gains worldwide recognition. The team plans to build a worldwide following and eyes listing on tier 1 exchanges. A global footprint will increase not only the speculative but also the utility value of Memeinator. The potential makes MMTR a worthy inclusion on investors’ bucket list.

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• Binance Coin gave up all the 2023 gains and some more
• The bearish momentum is set to continue
• All hopes are on Bitcoin and a reversal of the US dollar’s strength

The US dollar makes victims in the cryptocurrency market. One example is the Binance Coin or BNB. 

It gave up all its 2023 gains and some more, and the perspective remains bearish. 

The chart below tells much about what 2023 meant for the BNB/USD rate. It all started with Bitcoin rallying from $16k to $30k. 

Naturally, other coins followed as the enthusiasm in the cryptocurrency market grew by the day. 

However, Bitcoin met stiff resistance at $30k. It failed to overcome it and still consolidates around the area. 

But other coins did not consolidate levels. Instead, they declined sharply, falling to the dollar’s strength. 

A combo of the US dollar’s strength and loss of faith in most coins led to the sharp selloff. If Bitcoin, the last one standing, also gives up its gains for the year, then the cryptocurrency market is about to witness another major selloff. 

Hence, all hopes are in Bitcoin and a US dollar reversal. 

BNBUSD chart by TradingView

BNB/USD keeps forming bearish patterns

After it reached the $300 area while Bitcoin rallied, BNB/USD failed to hold the levels. Moreover, it formed a triangle that acted as a reversal pattern (in red on the chart above). 

Such triangles usually form at the end of complex corrections. Its nature suggested a full reversal of the 2023 move.

Furthermore, the drop to the $200 area saw no bounce at all. Instead, the market formed two continuation patterns. 

If the $200 level gives way, BNB/USD might see another leg lower, as the bearish patterns suggest. Only if Bitcoin rallies and/or the dollar reverses its gains should BNB/USD end the bearish momentum. 

The post BNB/USD forecast: a drop below $200 should trigger more weakness appeared first on CoinJournal.