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Meme Coins Bounce Back as Dogecoin, Popcat and Crypto All-Stars All Rise

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It’s been a great start to the week for meme coin traders.

Dogecoin and Popcat have seen sizable price spikes, while Crypto All-Stars continues to impress investors in presale.

With these three projects showing bullish momentum, market participants believe a “meme coin season” could be about to kick off.

Dogecoin Shows Strength with Growing Trading Volumes

Dogecoin, the original meme coin, isn’t messing around this week.

It has climbed to $0.148 in a rally that has caught the attention of crypto traders worldwide.

After Friday’s dip, DOGE has bounced back strong with a 15% gain and is on track for its third day in the green.

This surge has pushed DOGE to levels unseen since mid-June.

And the technicals look even more promising.

On the 4-hour chart, DOGE’s breakout from a tight bull flag pattern hints at more upside potential.

Spot trading volumes back this up, spiking 112% to $1.8 billion over the past day – enough to make DOGE the seventh most traded crypto, ahead of BNB and XRP.

Derivatives traders are taking notice too, as open interest now exceeds $1 billion.

While Bitcoin’s rally is likely fueling much of this momentum, DOGE is showing why it’s still the world’s most loved meme coin.

Popcat Gains Momentum After Major Influencer Endorsement

Not letting Dogecoin get all the attention, Popcat is also rallying, jumping 20% from Friday’s low.

The coin is now trading at $1.54 and edging closer to last week’s all-time high.

POPCAT’s momentum is building fast, with trading volumes up 119% to $198 million – enough to knock BONK down a peg as Solana’s second-largest meme coin.

But what’s really excited investors is a weekend shout-out from legendary meme coin trader Murad.

In a tweet to his 367,000+ followers, he made a strong case for POPCAT’s potential, hinting it could eventually rival DogWifHat.

With Murad’s knack for spotting meme coin winners, his support is huge.

And with the price action showing a solid upward channel on the 4-hour chart, POPCAT looks primed to test its highs again soon.

Adding to the bullishness is all the talk around the upcoming U.S. election.

Many traders believe that if Trump wins, it will lead to a bull market, mainly because of his pro-crypto stance.

That would prompt even more demand for meme coins like DOGE and POPCAT.

Viral Crypto All-Stars Project Brings New Utility to Meme Coins with Enormous Staking Rewards

Also benefiting from the meme coin buzz is Crypto All-Stars in presale.

Crypto All-Stars is breaking new ground with its “MemeVault” staking ecosystem.

It aims to tackle a long-standing gap in the meme coin space: a lack of passive income options.

While most staking platforms stick to big tokens like ETH or SOL, MemeVault supports popular meme coins like DOGE, SHIB, and PEPE.

Its multi-chain, multi-token model uses the ERC-1155 standard to make everything easy and efficient.

The numbers suggest that traders are buying into Crypto All-Stars’ vision.

Over $2.8 million has been raised in the project’s presale, with early investors drawn to the STARS staking rewards.

Those who get into STARS in presale can stake their tokens right away for APYs of 549%.

Strong security measures, with audits from Coinsult and SolidProof, back up this staking setup.

Investors are hyped about Crypto All-Stars’ potential.

The project now has thousands of followers on Twitter and Telegram, which sets the stage for strong community backing as it heads towards launch.

It seems to be tapping into something fresh – a mix of DeFi utility and meme coin appeal.

So, in a space where hype often outweighs fundamentals, Crypto All-Stars takes a different approach.

And it could be one worth watching as we head into the final weeks of 2024.

Visit Crypto All-Stars Presale

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

Readers are also advised to read CryptoPotato’s full disclaimer.

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Cryptocurrency

VeChain Kicksoff $15M StarGate Staking Program After SEC’s Staking Clarity

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Layer 1 blockchain platform, VeChain, is set to launch its $15 million StarGate staking program on July 1. The latest rollout is expected to be one of its largest incentive initiatives amid broader industry interest in staking adoption following SEC guidance.

According to the official press release shared with CryptoPotato, the new program arrives days after the SEC clarified that protocol staking does not constitute a securities offering.

$15M StarGate Staking Program

StarGate introduces direct-from-protocol staking on the VeChainThor blockchain, utilizing NFT technology, which enables holders with as few as 10,000 VET to participate while earning higher rewards under the network’s upgraded Weighted Delegated Proof of Stake system.

The program forms a core part of the VeChain Renaissance roadmap, which is the blockchain’s most significant technical overhaul to date, and features enhanced tokenomics, EVM equivalence, and a reworked staking structure. The primary goal of these features is to make VeChainThor more appealing to developers and institutional participants.

In an effort to drive early adoption, the VeChain Foundation has allocated 5.48 billion VTHO tokens, which are valued at approximately $15 million. This will provide a six-month bonus rewards pool that will boost APY for participants who migrate their nodes or stake VET during the program’s initial phase.

Approved staking tiers will range from the Dawn tier, requiring 10,000 VET, to the Mjolnir X tier, requiring 15.6 million VET. The structure also offers higher yields for larger commitments, while smaller holders will still earn rewards within the new system.

VeChain Applauds SEC Ruling on Staking

The launch comes as ETF issuers and banks weigh staking integrations following the SEC’s landmark decision wherein the agency ruled that protocol staking does not constitute a securities offering, and removed registration requirements for solo, self-custodial, and custodial staking. Applying the Howey test, the SEC found that staking rewards stem from participants’ actions, not others’ efforts.

Responding to this clarification, VeChain CEO and Founder, Sunny Lu, said,

“The SEC’s recent guidance validates what we’ve been building toward: a fully compliant, accessible staking model that treats rewards as compensation for network services rather than investment returns. Our innovative approach of leveraging NFTs to represent participation ensures both simplicity for users and full regulatory alignment.”

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Cryptocurrency

Hackers Suck at Trading: The Story of How This Fraudster Lost $7M Trading ETH

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An on-chain analytics firm analyzes the losses from a fraudulent wallet.

The beauty of trading on-chain lies in the fact that every transaction is 100% public – that goes for both professional traders, beginners, and, believe it or not – even hackers.

This is the story of a supposed fraudster who lost millions in a bad trade.

Hackers Are Not Savvy Traders

Lookonchain, a popular blockchain analysis firm, noted the activity early this morning on its account on the social media platform X.

The wallet in question, which, according to the analysts is linked to illicit hacking activities, received 12,282 Ethereum (ETH) three months ago, valued at around $23.72 million at that time, and sold it at $1,932 per coin.

Earlier today, the same culprit purchased 4,958 ETH at $2,495, totaling $ 12.37 million.

This results in a de-facto loss of around $6.9 million, as noted by Lookonchain.

It’s Not Just Cybercriminals Out Of Luck

As CryptoPotato reported yesterday, it’s not just bad actors that wind up out of pocket.

We noted two separate instances in which two traders, cumulatively, lost multiple millions on very high-risk, overleveraged trades.

Both were testing their luck with 40x and even 50x leverage, only to see their positions shrink as the markets did not turn in their favor.

One tried one too many times to come on top, and the other one failed to realize a significant profit.

This just goes to show that testing fate can quickly lead to an enormous shortfall, regardless of the trader’s intention and the manner in which the funds used for the transactions were obtained.

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Cryptocurrency

Shiba Inu-Themed Meme Coin Tanks After OKX Says Goodbye: Details

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TL;DR

  • A popular meme coin within SHIB’s ecosystem nosedived by double digits after OKX withdrew its support.
  • Team member LUCIE addressed the panic, urging users to embrace DeFi over centralized platforms and warning that even major exchanges aren’t immune to collapse.

BONE Heads South

Shiba Inu (SHIB) is a meme coin that has evolved into a robust ecosystem over the past few years. One of the most popular tokens within the network is Bone ShibaSwap (BONE).

The asset has not been in its best shape lately, posting a 32% decline on a monthly scale and plunging by 12% in the past 24 hours alone.

BONE Price
BONE Price, Source: CoinGecko

The main reason triggering the latest downfall is OKX’s decision to withdraw its support from the meme coin. The well-known cryptocurrency exchange announced that it will delist several digital assets on July 7, with BONE included in the list. 

OKX has already suspended deposits involving the token, while withdrawals will be terminated by the end of September. 

“We will continue to monitor all listed trading pairs and implement the delisting/hiding mechanism as necessary,” the company concluded.

OKX boasts over 50 million users globally and is among the behemoths in its field. When it withdraws support for a token, it often leads to negative price impacts driven by reduced liquidity, limited access, and potential reputational concerns.

BONE saw the light of day in the summer of 2021 alongside the debut of ShibaSwap – Shiba Inu’s decentralized exchange. It enables holders to vote on development proposals and influence protocol decisions, serves as a reward for liquidity providers, and functions as a gas token for Shibarium. During its early days, its price skyrocketed above $15, while currently, it trades at a mere $0.18. 

The Community’s Reaction

One person who gave their two cents on the delisting effort is the X user LUCIE, who serves as Shibarium’s marketing strategist. The team member thinks there’s much panic over two (unnamed) “manipulative” exchanges that have withdrawn their support from the token. 

LUCIE said they don’t want to be involved in the drama, putting their trust in DeFi and highlighting its advantages over centralized platforms:

“I trust DeFi. Use good exchanges only to exchange. We’re here to build and embrace DeFi – and simplify it so even beginners can onboard without needing 2FA, KYC, and a blood sample just to get started.”

Shibarium’s executive also noted that SHIB and other cryptocurrencies, like XRP, have faced similar FUD (Fear, Uncertainty, and Doubt) but have survived the backlash over the years. At the same time, LUCIE reminded about the demise of former giants like FTX and WazirX, hinting that centralized exchanges are not immune to another collapse of that type.

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