Crypto News

5 Up-and-Coming DOGE Projects that Might be Worth Your Money

In the 2021 bull run, cryptocurrencies that played on the dog theme dominated the market. It all started on April 2nd, when Elon Musk tweeted “Dogecoin might be my fav cryptocurrency. It’s pretty cool.” In the weeks that followed, Dogecoin – cryptocurrency’s original meme – skyrocketed from a meager $0.05 to a high of $0.75 on May 7th. That means a DOGE holder who had $100 of Dogecoin on April 2nd would have had $1500 less than a month later. With the Tesla CEO incorporating DOGE into its accepted payments for merchandise sales and supercharging stations and suggesting that people who subscribe to Twitter Blue should be able to pay with Dogecoin, DOGE itself (approximately $0.08 at the time of writing) still has massive upside potential. But many feel as though they’ve missed out on the asset’s heyday. They’re looking for the next 10,000x that only comes from early adoption. These five dog-themed coins have the potential to do just that. Baby Doge ($BABYDOGE) is a deflationary token designed to become more scarce over time. They charge a 5% fee for each sale of the asset and redistribute that fee to Baby Doge Coin holders – meaning the longer you hold, the more you can earn. It’s worth noting that Musk himself tweeted about Baby Doge on July 1st 2021. Currently, Baby Doge sits at $263 million market cap. Dogelon Mars ($ELON) is a dog-themed project that seeks to outpace Dogecoin’s success. As the website says, “I am Dogelon. Dogelon Mars. Join me and together we will reach the stars.” The page refers to Musk’s vision of colonizing Mars – though the controversial billionaire has yet to mention the asset. ELON is currently ranked #126 on CoinMarketCap with a market cap of $267 million. Mini Doge ($MINIDOGE) started as a deflationary meme coin, but it’s since evolved into a Web 3 ecosystem complete with a play-to-earn adventure game that allows holders to earn NFTs and more tokens as they go. Mini Doge has a market cap of only $2.3 million. Pulse Doge Win ($PULSEDOGE) is a community meme token that was built on Binance Smart Chain with the intent of bringing adoption to PulseChain – a new layer 1 blockchain set to launch later this year. The website claims that those who hold PulseDoge on BSC at the time of PulseChain’s launch will receive an equal 1:1 airdrop on PulseChain. This means that if you buy the token now, you’ll get double for your money. PulseDoge has a $7.5 million market cap. Dogechain ($DC) is an up-and-coming layer-1 blockchain designed to give DOGE more DeFi utility. For a limited amount of time, $DOGE holders will be able to freeclaim $DC tokens when they bridge their DOGE over from centralized exchanges or other chains. Staking bridged $DOGE will yield $DC tokens over time, while staking $DC will allow users to earn yield, prizes, rewards, and voting rights on the Doge DAO. This means that buying $DOGE now could yield exponential gains when $DC launches. Additionally, the DogeChain team has been conducting a grand-a-day giveaway for the entire month of May. There are still a few days left to get involved. 2021’s epic bull run is over, but there will be another bull market, and people love their dogs. Dog-themed projects will continue to dominate the memecoin space for the foreseeable future. Will you 1,000x?  

Bitcoin Crypto News

Hammer Time: The Bullish Signal That Could Save Bitcoin

Bitcoin price is still struggling to hold onto support at $30,000 on high timeframes after smashing through it more than a week ago now. With buyers stepping in after the plunge, there is a chance for bulls to stop the downside with a bullish reversal candlestick setup. Learn more about the potential setup and find out if it’s “hammer time”. A Bullish Hammer Could Put A Stop To The Bear Market You wouldn’t necessarily know it by the ultra bearish sentiment or the recent plunge and resulting panic across the crypto market. But if you look at medium timeframe price charts, Bitcoin bulls could be preparing out a stop to the bleeding and stage a bullish hammer reversal. Related Reading | This Expanding Triangle Pattern Could Be The Last Hope For Bitcoin Bulls Japanese candlesticks are said to be developed by the so-called “God of Markets,” Honma Munehisa. Homna was a rice trader and wrote the first ever book in market psychology. Candlesticks are comprised of a body and shadow, often called a wick. They are typically depicted as red and green, or white and black (open and closed). Each candle includes information on the open, close, low, and high of the trading session it represents. How the candle opens, closes, and the highs and lows set during the session will shape the candle, and often provide information about what might be going on in the market — and what might come next. Could this hammer put a stop to bears? | Source: BTCUSD on TradingView.com The Technicals Supporting A Bitcoin Reversal Setup On BTCUSD weekly and 2-week timeframe charts, the top cryptocurrency is working on a bullish hammer. A bullish hammer is a characterized as having a long lower wick acting as the handle, a small upper body, and little to no upper shadow. Although the bullish signal only takes one candlestick to suggest a bottom is in, it is only confirmed with a strong follow through back to the upside. There are plenty of technicals supporting a reversal | Source: BTCUSD on TradingView.com Hammers are most effective when they follow a string of at least three down candles, and are supported by bullish technicals. The bullish hammer is happening at what could be the end of a wave 4 expanding triangle correction, according to Elliott Wave Principle. The MACD is retesting the zero line, much as it did during the wave 1 Black Thursday correction. Each bottom, also coincidentally touched the lower Bollinger Band before reversing to the upside. Related Reading | Bitcoin Bear Market Comparison Says It Is Almost Time For Bull Season Will this bullish hammer confirm, and stop the bloodbath from continuing? Here is a 🧵 on my full Elliott Wave analysis on #Bitcoin and why I don’t believe there is a bear market – and why I expect the last leg up any day now. — Tony "The Bull" Spilotro (@tonyspilotroBTC) May 15, 2022 Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com

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Here’s What’s Next for Bitcoin and One Ethereum Competitor, According to Crypto Analyst Michaël van de Poppe

A popular crypto analyst is digging into the charts to see what’s next for Bitcoin (BTC) as well as one enterprise-grade blockchain platform. In a new post, Michaël van de Poppe alerts his 602,500 Twitter followers that he’s eyeing $29,300 as a key make-or-break indicator for Bitcoin. “Still watching the level at $29,300 for Bitcoin. […]

The post Here’s What’s Next for Bitcoin and One Ethereum Competitor, According to Crypto Analyst Michaël van de Poppe appeared first on The Daily Hodl.

Bitcoin Crypto News

LUNA Aftermath: Total Crypto Market More Oversold Than Black Thursday

Panic struck the crypto market last week when Bitcoin broke below support, stablecoins unpegged from the dollar, and LUNA dropped to zero. The bloody aftermath has left cryptocurrencies as a whole more oversold than the Black Thursday COVID collapse. Here is a closer look at the historically oversold conditions in crypto. Total Crypto Market More Oversold Than Black Thursday It was a bloodbath in Bitcoin, apocalypse in altcoins. Even stablecoins pegged to the price of the almighty dollar were completely shaken. A nefarious actor or group of actors strategically attacked the dollar-peg of the UST stablecoin, causing a domino effect of algorithmically driven liquidation of reserve assets that included BTC. Related Reading | This Expanding Triangle Pattern Could Be The Last Hope For Bitcoin Bulls Bitcoin plunged through support and many altcoins reached a total drawdown of 80 to 90% or more. LUNA, an asset tied to UST, fell all the way to zero. Billions were wiped out from the total crypto market cap. If there was ever a time to be doubtful about the future of crypto, it might be now. However, market veterans recommend when things become doubtful, you zoom out. The weekly RSI is more oversold than on Black Thursday | Source: CRYPTOCAP-TOTAL on TradingView.com “When in doubt, zoom out,” holds true in this case. Comparing the recent crypto selloff with Black Thursday, the weekly RSI has reached even more extreme oversold levels. Meanwhile, the Black Thursday candle recorded a 50% drawdown, and the latest correction by contrast barely produced 30%. By definition, a hidden bullish divergence occurs when an asset’s price sets a higher low, yet the indicator sets a lower low. This often indicates continuation ahead.   Elliott Wave Theory suggest the cycle isn’t complete  | Source: CRYPTOCAP-TOTAL on TradingView.com Could Another 45% Collapse Still Be Ahead? Elliott Wave Theory could provide clues as to what continuation might look like ahead. The total crypto market cap is also trading within a parallel channel, of which it just touched the bottom of. The upper boundary of the channel is roughly $10 trillion USD. Related Reading | Bitcoin Bear Market Comparison Says It Is Almost Time For Bull Season While that fact might be the hope bulls need right now, bears still could have the last laugh. The weekly RSI has now reached the lowest level since the bear market bottom and the fourth lowest in its history on TradingView. Only three other times has the total crypto market cap been more oversold  | Source: CRYPTOCAP-TOTAL on TradingView.com Of the three previous lows set on the weekly RSI, two were bear market bottoms. The remaining low, however, was followed by another 45% plunge to the final bottom. Another 45% drop from here would take the total crypto market cap back to around $600 billion, or below the January 2018 cycle peak. Simply put, risk is still extremely high, but as oversold conditions increase, so does the potential for reward. Act accordingly. Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com

Bitcoin Crypto News

This Expanding Triangle Pattern Could Be The Last Hope For Bitcoin Bulls

Bitcoin broke through support and plunged to the lowest prices seen since 2020. However, despite all the fear the drop has caused, it could be the last low before the top cryptocurrency continues its bull run. Here is why an extremely rare Elliott Wave expanding triangle pattern could be the last hope Bitcoin bulls have for new highs before a bear market. Ralph Nelson Elliott And His Theory On How Markets Move Ask most crypto investors and they would probably agree: we are in a bear market. However, based on the guidelines of Elliott Wave Theory, the last year and a half of mostly sideways could be part of one powerful, confusing, and rare corrective pattern. Related Reading | One Coin, Two Trades: Why Bitcoin Futures And Spot Signals Don’t Match Up Elliott Wave Principle was first discovered by Ralph Nelson Elliott in the 1930s. The theory believes all markets move in the direction of the primary trend in the same five-wave pattern. Odd-numbered waves move up with the primary trend as well, while even-numbered waves are corrective in nature that move against the trend. Is Bitcoin trading in an expanding triangle? | Source: BTCUSD on TradingView.com In the chart above, BTCUSD could potentially be trading in an expanding triangle. In Elliott Wave Theory, triangles of any kind only appear immediately preceding the final move of a sequence. During the bear market, a triangle appeared in place of the B wave before breaking down to the bear market bottom. Identifying A Bullish Expanding Triangle Pattern Triangles can contract, expand, descend, ascend, and even take on some “irregular” shapes. The expanding triangle pictured above and below should in theory only occur before the final wave five impulse up. If that’s the case, the bull run could continue once the bottom of the E wave is put in. Each subwave is a Zig-zag similar to wave two  | Source: BTCUSD on TradingView.com An expanding triangle is characterized as having five waves that sub-divide into ABCDE corrections. Waves A, C, and E are against the primary trend, while B and D waves are with the primary trend. Each sub-wave further sub-divides into three-wave patterns called a Zig-zag. Zig-zag patterns are sharper, and more commonly appear in wave two corrections. The fact that an expanding triangle has five of these brutal corrections in two different directions makes it especially confusing and frustrating. Expanding triangles only form under the most unusual market conditions. Related Reading | Bitcoin Bear Market Comparison Says It Is Almost Time For Bull Season Extreme uncertainty drives expansive volatility in both directions. Both sides of the trade are repeatedly stopped out of trades, adding to frustration. By the end of the pattern, order books are thin and easily overpowered. Decidedly bearish sentiment squeezes prices up quickly causing an upward breakout of the pattern and continuation of the bull run. The chase and FOMO creates the conditions necessary for wave five. Why Bitcoin Could Still Have Wave Five Ahead The only problem is that there is no telling if this is the correct pattern, or if Bitcoin is in (or possibly just completed) a wave four according to Elliott Wave Theory. Knowing that triangles only appear before the final move of a sequence helps improve the changes of this expanding triangle being valid. However, it is more important to understand the characteristics of each wave. Corrective waves result in ABC or ABCDE corrections (along with some more complex corrections) that move against the primary trend. Between corrections is an impulse wave up, in a five-wave stair-stepping pattern. After the bear market bottom, a new trend emerges starting with wave one. Wave two is often a sharp, Zig-zag style correction that retraces most of wave one. A bear market will move below the zero line on the MACD  | Source: BTCUSD on TradingView.com The lack of a new low creates the confidence for more market participants to join, making wave three the most powerful and extended of all. Wave four typically moves sideways and lacks the same severity of the wave two correction. Elliott said that wave four represents hesitancy in the market before finishing the trend. Both wave two and wave four tend to bring the MACD back down to the zero line before reversing higher – a setup clearly depicted above. Related Reading | Bitcoin Indicator Hits Historical Low Not Seen Since 2015 When the hesitancy ends, wave five typically matches the length and magnitude of wave one. But after such a long and nasty wave four correction, any wave five has the potential to extend similar to wave three. If this were the case, the expanding triangle pattern created the perfect shakeout of both sides of the market. Here is a 🧵 on my full Elliott Wave analysis on #Bitcoin and why I don’t believe there is a bear market – and why I expect the last leg up any day now. — Tony "The Bull" Spilotro (@tonyspilotroBTC) May 15, 2022 Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com

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Blockchain infrastructure platform QuickNode acquires NFT analytics provider icy.tools

QuickNode, a blockchain infrastructure platform supporting over 10 chains announced today, that to better serve its NFT customers, QuickNode has acquired icy.tools, a popular NFT analytics platform with a newly launched NFT API for developers. This acquisition will provide icy.tools with resources to accelerate their roadmap and vision and create the most reliable NFT API. […]

The post Blockchain infrastructure platform QuickNode acquires NFT analytics provider icy.tools appeared first on CryptoNinjas.

Crypto News

Join The Gensokishi Online Closed Alpha For Massive Rewards

Gensokishi Online, the metaverse version of the 3D MMORPG game, “Elemental Knights”, is giving NFT investors the chance to earn massive rewards. Elemental Knights which has been in existence for more than 13 years has amassed a community of more than 8 million players and is now bringing this massive game to the metaverse. Users have a chance to be a part of Gensokishi Online by registering for its closed alpha. Maxi Kuan, CEO of GensoKishi Online, says “In the closed alpha, NPCs, background models, equipment, Monsters etc. will also be renewed, and the graphics will be improved to be suitable for the latest games. We are already working on resources to improve the graphics, but it will take dedicated converter development to incorporate them into the actual game, so we cannot yet show you the improved graphics in the alpha version, but we plan to release them in the beta version. We hope that everyone will take this opportunity to experience the Metaverse GameFi project as never before.” This closed alpha will see a select few get the chance to be a part of the testing period that will end with limited edition NFTs being awarded to the participants. Applications for joining the closed alpha have been announced. It will take place in a lottery-style system where users sign up for the Closed Alpha Bronze Tickets. Winners of this lottery will be provided exclusive access to the Gensokishi Online Closed Alpha Test. At the end of the testing period, players will be ranked on a point system using the “Alpha Hunter’s Certificate” which will drop at a certain probability rate when players defeat monsters during in-game play. The top 10 ranking players at the end will receive limited edition NFTs. The other players are not left out though. The top 11 to 100 players will also receive a limited edition NFT at the end of the testing phase. How To Apply For Gensokishi Closed Alpha Applications for the Gensokishi Online Closed Alpha Bronze Ticket lottery is already ongoing. Interested players are required to complete a number of tasks on the Gensokishi Online website and then submit their application using the application form provided on the site. The purpose of the closed alpha is to help determine the economic balance of the game, and the level design, and to help identify any problems and test the game server before the launch. The alpha version is playable only on Desktop, but Mobile support is planned for beta and beyond. Applications have begun pouring in since launch on May 3rd and will continue to May 17, which is the end date, at 23:59 GMT+8. Players should note that applications submitted after the closing date will not be accepted. The ticket distribution date is also subject to change so make sure to follow announcements for updates on this. At the end of the testing period, players are able to exchange their tickets for the “Gensokishi Fan Club Membership Card.” It is very worthwhile to participate in the alpha version of the game, as the possession of a Gensokishi Online Fan Club membership card entitles the holder to various benefits after the release of the game. Taking Metaverse Gaming By Storm Gensokishi benefits greatly from the popularity and confidence that has been generated by Elemental Knight over its more than a decade in operation. However, the metaverse game itself has made some significant strides. In just 20 days, the community grew to more than 100,000 members and now sits at over 230,000 community members. It also set the record for the fastest project ever launched by Trustpad after selling out in 20 seconds. Its launch on crypto exchange Bybit saw a record 65,000 participants stake more than $220 million to earn $MV tokens, the official token of Gensokishi Online. It is the most widely held token behind MATIC tokens on the Polygon network. Gensokishi Online has made its mark as a formidable contender in the metaverse gaming space and it is only beginning.