Category Archives: Crypto News

On April 11th, the price of PEPE increased significantly, giving investors hope that it would continue to rise. However, on April 13th, the market crashed and PEPE’s price dropped by more than 11% in the last 24 hours. Despite this setback, there are positive signs for PEPE. The coin’s Chaikin Money Flow (CMF) showed improvement on April 9th and its On Balance Volume (OBV) has remained high over the past week. These indicators suggest that PEPE could still have a bullish rally if investors are willing to wait. Analysts have also noted a bullish symmetrical triangle pattern for PEPE, which could lead to new highs if the coin breaks above $0.00001. It is worth noting, however, that there is growing selling pressure on PEPE, indicated by an increase in coin supply on exchanges and a decrease in supply held by top addresses. This selling pressure could negatively impact the price of PEPE. For PEPE to see a promising rally, it must first surpass the $0.000008, $0.0000082, and $0.0000086 levels. If it manages to break above $0.000009, there is a chance it could reach an all-time high this summer. Conversely, if bears take control, PEPE will need to test support near $0.000006.

The cryptocurrency Shiba Inu (SHIB) has gained widespread attention and has a market value of $16 billion, but investors should not take it too seriously due to its meme nature. Although it has seen a price increase of 250% in 2024, its potential for long-term investment gains is questionable.

Shiba Inu was created in 2020 as an experiment to build an online community and has since become a well-known cryptocurrency. Despite a circulating supply of over 589 trillion tokens, each Shiba Inu token is currently worth about $0.000024. However, the token has appreciated by approximately 2,000,000%, making it potentially lucrative for some.

Its popularity as a meme coin may limit its potential for future price increases. Its market value currently stands at around $14 billion, down from its peak of $39 billion in 2021. This means that the token can only potentially double or triple in value, posing limited potential for significant returns. As a result, investors with small amounts of capital may not see significant gains as before.

Additionally, Shiba Inu’s status as a joke cryptocurrency discourages serious investments. Most people only invest small amounts, hoping for a quick profit. Approximately 90% of holders own less than $1,000 worth of Shiba Inu, and 98% hold $100,000 or less. This makes it unlikely for risk-averse investors to allocate a significant amount of funds to Shiba Inu.

Considering these factors, it is unlikely that Shiba Inu will experience significant growth in the near future. Instead, investors are advised to focus on established cryptocurrencies and blue-chip stocks for their investment strategies. Those interested in Shiba Inu’s technology may find it more beneficial to invest in Ethereum, the network on which the coin operates.

In conclusion, Shiba Inu has seen remarkable gains in the past, but its meme status and popularity limit its potential for significant future returns. It is advisable to approach it with caution and consider alternative investment options.

A new participant has emerged in the world of digital currencies, attracting attention and curiosity. This particular cryptocurrency, called “Kat Meme Coin,” has sparked significant discussion, especially after being unexpectedly endorsed by Vitalik Buterin, co-founder of Ethereum.

Kat Meme Coin is part of a growing trend of cryptocurrencies that utilize popular internet culture to rapidly gain users. The creators have cleverly combined viral memes with the speculative nature of the crypto market, making it appealing to both crypto enthusiasts and those who enjoy online humor.

Buterin’s involvement in Kat Meme Coin surprised the cryptocurrency community. As a well-known figure in the blockchain world, his praise for the project’s innovative community engagement approach and potential to attract new users to the crypto ecosystem was unexpected.

Despite its playful origins, Kat Meme Coin is built on a strong technical foundation. It operates on a decentralized blockchain platform, ensuring security and transparency. The developers have also implemented a unique deflationary mechanism where a small portion of coins are burned with each transaction, potentially increasing the value of the remaining coins over time.

The future of Kat Meme Coin looks promising, with upcoming plans to collaborate with online content creators, merchandise stores, and potentially be adopted by e-commerce platforms as a legitimate payment method.

Since its launch, Kat Meme Coin has experienced fluctuating yet favorable market responses. The coin saw a significant increase in value after Buterin’s endorsement, demonstrating the impact of high-profile support in the crypto market.

However, the project also faces challenges. Some critics question the long-term sustainability of meme coins and their potential volatility. The developers of Kat Meme Coin will need to maintain momentum and continually evolve the project to sustain interest and value.

Disclaimer: This article is for educational purposes only and should not be considered investment advice. Readers should conduct their own research before making any investment decisions.

Market participants are anticipating additional losses for Bitcoin following a recent drop in value, forecasting a risk of around $1.05 billion in short positions if the cryptocurrency reverts to its value from the previous day. Traders with long positions have already suffered $256 million in losses due to Bitcoin’s 7% price decrease. However, experts see this downturn as normal, even amidst heightened geopolitical unrest in the Middle East. Benjamin Cowan points out in his observations that Bitcoin has seen similar downturns in earlier market cycles. Meanwhile, MicroStrategy’s chief, Michael Saylor, has a positive outlook, suggesting that chaotic circumstances benefit Bitcoin. A trader known as Rekt Capital is also optimistic, holding the belief that Bitcoin will recover from its short-term loss. After falling to $60,919, Bitcoin’s value managed to stabilize at $62,060 and presently stands at $63,858. The unexpected drop in value resulted in the liquidation of roughly $319.15 million from leveraged Bitcoin positions in the past day. If the price rises back to $67,000, there could be around $1.05 billion in short positions at risk of liquidation. The wider cryptocurrency market also witnessed significant losses, with the liquidation of $945.9 million across 253,554 traders in the last day. The fear and greed index stands at 72, indicating a drop in greed levels from last week’s 78. The global crypto market’s value also fell by 8%, amounting to $2.23 trillion. There has been consistent demand for Bitcoin amongst its larger investors, with demand surpassing the supply for the first time, signifying increasing scarcity following halving events.

A well-known trader in the cryptocurrency industry predicts that a popular memecoin known as Pepe may experience a significant drop in value due to breaking a crucial support level. The analyst, Ali Martinez, shared his belief with followers on X, stating that Pepe is preparing for its next move amidst recent struggles in price.

Martinez warns that if Pepe’s price falls below the range of $0.00000793 to $0.00000664, it could result in a 54% decrease in value for the coin. Currently, Pepe is being traded at $0.0000058, which is already below Martinez’s mentioned support level. If this correction occurs, Pepe could potentially reach as low as $0.000003.

The decline in Pepe’s value continued after Coinbase International Exchange announced its support for PEPE perpetual futures. In September, Coinbase’s international branch received approval to offer perpetual digital asset futures to non-US investors. Along with Pepe, Coinbase International Exchange also added support for perpetual futures of Worldcoin (WLD) and ORDI, a project that aims to bring NFT capabilities to the Bitcoin blockchain.

According to CoinGecko, Pepe reached its peak value of $0.00001064 on March 14th.

Moving on to Bitcoin, Martinez points out that if BTC reaches $71,700, there could be a considerable amount of liquidations, estimated at $23 million, on Binance. Currently, Bitcoin is being traded at $67,045, experiencing a nearly 6% decrease in the last 24 hours.

It is important to note that the opinions of The Daily Hodl do not serve as investment advice, and investors should conduct their own research before making risky investments in cryptocurrencies or digital assets.