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AI16Z Price Surges 20% as Crypto Market Recovers – Could Meme Index be Next to Explode?

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The crypto market is looking lively again thanks to AI16Z, which shot up over 20% in the last 24 hours.

This jump fits into a broader trend towards meme coins with real utility.

Momentum is also building around Meme Index, a new presale project, after it hit the $2.4 million funding milestone earlier today.

AI16Z Climbs to $1.47 After Rebound From Support Zone

After ten days of volatile trading, AI16Z has finally found its footing, shooting up to $1.47 since yesterday.

It rebounded from support at around $1.25 – making it the top-performing major meme coin this week.

As buyers rush for exposure, spot trading volumes have topped $350 million.

This upswing kicked off after the much-anticipated ElizaOS whitepaper was released.

Things took an even more bullish turn when Gem Insider, a popular crypto influencer, declared that the “bottom is in” for AI16Z.

He believes a return to all-time highs is imminent.

Despite this optimism, some traders believe AI16Z’s latest rally is just a short-term bounce before another sell-off.

Although there’s fresh buzz around the whitepaper, the coin’s fundamentals remain unchanged.

It still relies mainly on speculative buying from retail traders.

So, although AI16Z’s 20% jump is undoubtedly positive for holders, time will tell whether this rally has real legs.

Market Sentiment Shifts as Traders Prepare for Trump Administration

AI16Z’s surge is unfolding in a market that’s finally perking up after a bumpy spell.

Bitcoin and Ethereum are back in the green over the last day, with XRP jumping around 10%.

Much of this optimism hinges on political developments, especially around Donald Trump’s upcoming return to office and how that might impact crypto regulation.

His team is reportedly drafting crypto-friendly executive orders, including changes to specific banking policies that have presented challenges for the industry.

These developments have investors hoping for a crypto-friendly future.

But most coins and tokens are still trading in a tight range – making AI16Z’s breakout all the more eye-catching.

Its ability to withstand market volatility shows the continued demand for creative meme coins, particularly those with real-world applications.

AI16Z stands out as yet another example of how quickly sentiment can impact a coin’s price.

And with some top crypto commentators suggesting a bull run is imminent, AI16Z’s surge might just be the start of something much bigger.

Meme Index Presale Passes $2.4M – Could This Meme Coin Investing Platform Pass AI16Z?

Another meme coin, Meme Index, is also seeing positive momentum.

This project has raised over $2.4 million in presale, and MEMEX tokens are available for $0.0152243 each.

It brings a new approach to meme coin investing, featuring four indexes that track both established and low-cap tokens.

Its goal is to provide investors with a more balanced way to navigate the space.

Perfect timing could be on Meme Index’s side, especially given all the buzz around a potentially pro-crypto Trump administration.

Coupled with the excitement around AI16Z’s rally, it’s easy to see why people are paying attention to the project.

Notably, Meme Index’s utility goes beyond just meme coin indexes.

It also has a staking app for the native MEMEX token that offers above-average annual yields.

This app has already gained significant traction – with over 104 million tokens already locked up.

NASS CRYPTO, a YouTuber with over one million subscribers, released a video about Meme Index last weekend.

He highlighted how it will offer the world’s first decentralized meme coin index.

NASS CRYPTO’s endorsement has had a huge effect on Meme Index’s socials, leading to a surge in membership for the project’s Twitter and Telegram communities.

With all this early interest, MEMEX might follow in AI16Z’s footsteps and is definitely one to keep an eye on.

Visit Meme Index Presale

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Cryptocurrency

Ethereum Foundation, Whales, and Hackers: What’s Driving the ETH Sell-Off?

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TL;DR

  • Whales, hackers, and the Ethereum Foundation wallets moved over $500M in ETH through large sales and withdrawals.
  • Ethereum transfers rose to 4.6M ETH, nearing the monthly high of 5.2M recorded in July.
  • Staking inflows hit 247,900 ETH, the highest in a month, locking more supply from trading.

Large Withdrawals and Whale Activity

Ethereum (ETH) has seen heavy movement from major wallets over the past few days. On-chain data from Lookonchain shows a newly created wallet pulled 17,591 ETH, worth $81.62 million, from Kraken in just two hours. 

Over three days, two new wallets withdrew a combined 71,025 ETH, valued at $330 million, from the exchange.

One of these wallets, address 0x2A92, has withdrawn 53,434 ETH, worth $242.34 million, in two days. This includes a recent purchase of 30,069 ETH, valued at $138.46 million, during a market drop.

Major ETH Holders Offload Millions Amid Price Rally

In contrast, several separate entities have been disposing of some ETH holdings. A wallet tied to a hacker address 0x17E0 sold 4,958 ETH for $22.13 million at $4,463, securing a profit of $9.75 million. Earlier this year, the same address sold 12,282 ETH at $1,932 and later bought back part of the amount at higher prices.

A different whale sold 20,600 ETH for $96.55 million over the past two days, generating a profit of more than $26 million after holding the position for nine months. 

Meanwhile, an Ethereum Foundation-linked wallet, 0xF39d, sold 6,194 ETH worth $28.36 million in the last three days at an average price of $4,578. 

Recent sales from the same wallet included an additional 1,100 ETH and 1,695 ETH for over $12.7 million combined.

Network Activity on the Rise

CryptoQuant data shows Ethereum’s total tokens transferred have been climbing since August 9. After ranging between 1 million and 3 million ETH through late July and early August, transfers have risen to 4.6 million ETH, approaching the monthly high of 5.2 million recorded in mid-July. This increase has occurred alongside a price rally from about $3,400 to $4,600.

Ethereum (ETH) Tokens Transferred (Total)
Source: CryptoQuant

Interestingly, staking inflows generally stayed between 20,000 and 80,000 ETH per day over the past month. On August 14, inflows jumped to 247,900 ETH, the highest in the period. 

At the time, ETH was trading near $4,600. Large staking deposits reduce the amount of ETH available for immediate trading, as staked coins are locked for a set period.

Ethereum (ETH) Staking Inflow Total
Source: CryptoQuant

In the meantime, ETH trades at $4,647 with a 24-hour volume of $68.25 billion, down 2% on the day but up 19% over the week.

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Massive DOGE Whale Activity Hints at $1 Breakout

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TL;DR

  • Whales bought two billion DOGE this week, lifting their combined holdings to 27.6 billion coins.
  • A single 900M DOGE transfer worth $208M to Binance drew attention to large exchange movements.
  • DOGE broke key resistance, with momentum building for a possible push toward the $1 price mark.

Price and Market Moves

Dogecoin (DOGE) traded at $0.23 at press time, slipping 4% over the past day but still showing a 2% gain for the week. Daily turnover came in at about $6.18 billion. 

Meanwhile, the broader crypto market saw over $1 billion in liquidations. Hotter-than-expected US Producer Price Index data pushed traders to scale back expectations of a near-term Federal Reserve rate cut. DOGE had roughly 290,500 coins liquidated during the sell-off.

On the two-week chart, analyst Trader Tardigrade notes that DOGE has cleared a downward-sloping resistance line after completing what appears to be a “wave V” in an Elliott Wave sequence. Similar setups in the past, where prolonged declines stayed within falling channels before breaking higher, have been followed by sharp rallies.

Momentum gauges are also turning up. The Stochastic RSI, which had dropped into oversold territory, is now heading higher. Previous reversals from this zone have coincided with sustained upward moves. The current formation points to a possible run that could carry DOGE past the $1 mark.

Heavy Whale Buying and Large Transfers

As reported by CryptoPotato, blockchain data shows large investors have added two billion DOGE in the past week, spending just under $500 million. That brings their holdings to about 27.6 billion coins, or 18% of the supply. The buying streak has prompted speculation within the community. 

Recently, Whale Alert flagged a 900 million DOGE transfer worth about $208 million into Binance. The tracking indicates that it originated from a wallet connected to the exchange, likely as an internal activity. The address involved holds 2.88 billion DOGE, one of the largest balances on the network.

Ali Martinez also reports that transactions above $1 million reached a one-month high, with activity building since early August and peaking as DOGE traded at $0.25.

Sentiment Building

Analyst Gordon described the current setup as “a nice bit of consolidation” before a potential breakout, adding, 

“This will be one of the first coins normies FLOCK to & the pump will be MASSIVE.”

With whale accumulation rising, high-value transfers increasing, and a bullish technical pattern in play, DOGE is positioned for a potential push toward $1 if momentum holds.

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Ripple Price Analysis: XRP at Risk as Key Support Levels Could Trigger Sharp Drop

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XRP has recently entered a consolidation phase after a strong rally earlier this summer, with the price action now hovering around key resistance levels on both its USDT and BTC pairs. Yet, while momentum has slowed, the charts still indicate a generally bullish structure, with multiple key support levels remaining firmly in place.

Technical Analysis

By ShayanMarkets

The USDT Pair

On the XRP/USDT daily chart, the price is currently trading near the $3.10 mark, facing a strong resistance zone around $3.40. This follows a breakout above the $2.70 range in July, which has now flipped into a support area.

Both the 100-day and 200-day moving averages are also trending upward and recently formed a bullish crossover around $2.45, reinforcing the medium-term bullish sentiment. If the $3.40 resistance breaks, a push toward the critical $4.00 range becomes likely.

However, the RSI hovering near the neutral 50 level suggests a lack of strong momentum for now, meaning a short-term pullback into the $2.80 support zone is still possible.

This zone will be key for maintaining the bullish structure. Losing it could open the door for a deeper correction toward the 200-day moving average located around the $2.40 mark. Yet, as long as the price stays above the moving averages, the broader trend remains bullish.

The BTC Pair

Looking at the XRP/BTC chart, the pair has recently pulled back after hitting the 3,000 SAT resistance, with the price currently around 2,600 SAT.

This follows a clean breakout above the long-term descending channel and a successful retest of its upper boundary, which coincided with the 200-day moving average and the 2,400 SAT support zone. This confluence remains a key bullish technical factor, as holding above it could attract renewed buying pressure.

That said, RSI levels around 48 show that momentum has cooled after the sharp July rally, meaning XRP may continue ranging between 2,400 SAT and 3,000 SAT in the near term. A decisive close above 3,000 SAT would likely open the path to the 3,400 SAT zone, while losing 2,400 SAT could shift the bias back toward 2,000 SAT support. For now, the structure still favors the bulls as long as higher lows remain intact.

 

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

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