Altcoin
ICP Holders Use Their Explosive Profits On ICO Gambling Coin Set To Skyrocket 150%
In the fast-paced world of cryptocurrency, seasoned investors are always on the lookout for new opportunities to reinvest their profits for massive returns. Recently, Internet Computer (ICP) has been a favorite among crypto enthusiasts, delivering double-digit gains and outperforming the broader market trends. With a significant surge in ICP’s value, many holders are now diverting their profits into new promising ventures, such as the gambling ICO coin, Mpeppe (MPEPE).
Internet Computer’s (ICP) Bullish Surge
Internet Computer (ICP) has recently captured the attention of the crypto world with its impressive price rally, defying the general market cooldown. Internet Computer (ICP) broke above a descending trendline that had held since mid-April, gaining over 14% in a single day and reaching a trading price of around $8.50. Despite the broader market correction, Internet Computer (ICP) has managed to rise by 11%, marking a notable achievement in September.
Key technical indicators like the Relative Strength Index (RSI) and On-Balance Volume (OBV) suggest that this bullish momentum could continue in the near term. Additionally, ICP’s open interest in futures markets has seen a substantial rise from $35.87 million to $47.21 million, indicating growing interest and new money entering the ecosystem.
According to on-chain data, ICP’s burn rate has also increased, reducing its circulating supply and adding more bullish pressure to its price action. This, coupled with high trading volumes and positive technical analysis, has analysts predicting ICP could reach as high as $25 in the short term, with some even suggesting a long-term target of $79.57—a whopping 777% increase from current levels.
Mpeppe (MPEPE): The Next Big Thing
With Internet Computer (ICP) holders riding the wave of its price surge, many are now looking at Mpeppe (MPEPE) as their next big investment. Mpeppe (MPEPE), a gambling ICO token, is currently in its presale phase and has already attracted significant attention due to its potential to skyrocket by 150%. The project’s innovative approach to decentralized gambling, along with its viral meme coin appeal, has made it one of the most talked-about tokens in the market.
Priced at $0.0021, Mpeppe (MPEPE) is nearing the completion of its Stage 4 presale, with over 80% of tokens already sold. Early investors are betting on Mpeppe (MPEPE)’s potential to replicate the success of meme coins like Shiba Inu (SHIB) or Dogecoin (DOGE), expecting explosive returns once the coin is fully listed on exchanges.
Why ICP Investors Are Betting on Mpeppe
- Reinvestment of Profits: Internet Computer (ICP) holders have seen substantial gains over the past few weeks, and with the bullish momentum expected to continue, many are looking to reinvest their profits into, high-reward ventures like Mpeppe (MPEPE). The gambling coin’s promising presale performance and strong community backing make it an appealing choice for those looking to maximize their returns.
- Market Sentiment: Internet Computer (ICP)’s recent surge has bolstered market confidence in decentralized projects that offer real utility. Similarly, Mpeppe (MPEPE) taps into the decentralized gambling space, which is gaining traction among crypto investors. As more users seek entertainment and profit opportunities in the decentralized world, gambling tokens like Mpeppe (MPEPE) are well-positioned for success.
- Potential for Explosive Growth: With Internet Computer (ICP) already proving its resilience in the market, many investors see Mpeppe (MPEPE) as the next logical step for substantial returns. The token is currently at an attractive price point, offering early investors a chance to ride the wave of growth expected once it hits the broader market. Analysts predict Mpeppe (MPEPE) could soar 150% or more, driven by strong demand and growing interest in the decentralized gambling sector.
The Future of ICP and Mpeppe
The crypto market remains highly volatile, and while Internet Computer (ICP) has proven itself as a resilient and innovative player, it’s clear that many investors are also keen on diversifying their portfolios with high-potential meme coins like Mpeppe (MPEPE). With Internet Computer (ICP) breaking above its $8.50 resistance and Mpeppe (MPEPE) nearing the completion of its presale, both tokens are positioned for continued growth in the final quarter of 2024.
Investors who have already profited from ICP’s bullish run are now doubling down on Mpeppe (MPEPE), hoping to capitalize on its 150% projected growth. As the gambling coin nears its launch, it will be interesting to see how both tokens perform in the increasingly competitive crypto market.
Conclusion
For those who have benefited from the recent surge in Internet Computer (ICP), reinvesting in promising new tokens like Mpeppe (MPEPE) offers a chance to ride the next wave of explosive growth. With ICP’s strong technical performance and Mpeppe (MPEPE)’s potential for substantial returns, 2024 could prove to be a transformative year for investors in both tokens.
As always, it’s essential to conduct thorough research and consider market conditions when investing in cryptocurrencies. While the potential for gains is significant, the volatility of the market means that caution should always be exercised. However, with Internet Computer (ICP) and Mpeppe (MPEPE) showing strong momentum, these two tokens are undoubtedly ones to watch in the coming months.
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Elon Musk has doused optimism for the US government to adopt Dogecoin at the America PAC town hall event. The head of the Department of Government Efficiency (DOGE) noted that the government agency only bears a nominal resemblance to the memecoin.
Elon Musk Dispels Rumors Of Dogecoin Adoption By The US Government
At a recent event, Tesla CEO Elon Musk cleared the air on the potential adoption of Dogecoin by the US government. In his keynote speech, Musk noted that the US government will not be adopting Dogecoin, contrary to swirling speculation.
Musk noted that the speculation gained traction following the launch of the Department of Government Efficiency (DOGE). Following the launch of DOGE and Musk tapped to lead the agency, enthusiasm for Dogecoin government utility reached new highs.
However, Musk clarified that the agency bears only a nominal resemblance to the memecoin, stemming from an internet trend. The Tesla CEO disclosed that the original intended name was the Government Efficiency Commission, opting for DOGE “because the internet is right.”
“The name is similar but they are two different things,” said Musk. “But there are no plans for the government to use Dogecoin as far as I know.”
Musk has a long and storied history with Dogecoin, famously shilling the memecoin and integrating DOGE payments for Tesla. Musk teased an anime-themed DOGE on X, setting the stage for a $2 rally for the memecoin.
DOGE Reacts Negatively To The News
Dogecoin price slumped by nearly 2% in the wake of the grim report. Currently, the memecoin is trading at 0.1660 as it eyes a push toward the $1 mark.
The negative fundamental adds pressure to reports of DOGE forming a falling wedge pattern, signaling a potential downward breakout. However, optimists are rippling with confidence that DOGE can shake off the negative sentiments to post new all-time highs.
One analysis claims that if the Dogecoin price breaks a 3-month trendline, an $8 valuation for the memecoin is in play. Others claim that the House of Doge Reserve launch will be a tailwind for Dogecoin price, sending the dog-themed coin on a strong rally.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Crypto inflows hit $226 million last week, signaling a cautiously optimistic investor sentiment amid ongoing market volatility.
According to CoinShares data, altcoins broke a five-week streak of negative flows, recording their first inflows in over a month.
Crypto Inflows Hit $226 Million Last Week
This turnout marks a significant slowdown from the previous week when crypto inflows hit $644 million, ending a five-week outflow streak. Before that, inflows peaked at $1.3 billion, with Ethereum outpacing Bitcoin in investor demand.
“Digital asset investment products saw $226 million of inflows last week suggesting a positive but cautious investor,” read an excerpt in the report.
The pullback to $226 million last week suggests a more measured approach by investors as they assess macroeconomic conditions and regulatory uncertainties.
Specifically, CoinShares’ researcher James Butterfill ascribes Friday’s minor outflows of $74 million to core personal consumption expenditure (PCE) in the US, which came in above expectations.
“The Fed’s preferred measure of inflation (Core PCE) moved up to 2.8% in February & remains well above their 2% target that has yet to be achieved. The market is expecting the Fed to hold rates steady again at their next meeting on May 7 (at 4.25-4.50%),” investor Charlie Bilello noted.
Nevertheless, this turnaround comes after nine consecutive trading days of inflows into crypto ETPs (exchange-traded products).
Despite the slowdown, Bitcoin continued to attract strong inflows of $195 million. Meanwhile, short-Bitcoin products registered outflows of $2.5 million for the fourth consecutive week. This suggests that investors are leaning bullish on Bitcoin, even as altcoins begin to recover.
The CoinShares report shows that altcoins saw $33 million in inflows last week after suffering $1.7 billion in outflows over the past month.
Altcoins Rebound After $1.7 Billion in Outflows
Ethereum (ETH) led the recovery, attracting $14.5 million, then Solana (SOL) at $7.8 million, while XRP and Sui recorded $4.8 million and $4.0 million, respectively. Market analysts believe altcoins may be bottoming out, creating potential buying opportunities.
“Altcoins are oversold. The bottom is close. We’re ready for a bounce,” renowned analyst Crypto Rover highlighted.
Other analysts echoed the sentiment, suggesting growing attention toward altcoins. Among them was trader Thomas Kralow, who said, “altcoins are setting up for a comeback.”
Adding credence to this bullish outlook for altcoins, project researcher BitcoinHabebe, known for insightful mid-low cap sniper entries, pointed to technical indicators suggesting a market reversal.
“While bears are trying to spread fear & make you sell your altcoins, the TOTAL3 [Altcoins market cap chart excluding Bitcoin and Ethereum] just bounced off an HTF [higher timeframe] retest,” the analyst stated.
This means most coins have bottomed out and are expected to start reversing soon. Cole Garner noted a key buy signal in market liquidity metrics, further supporting this view.
“Tether Ratio Channel already flashed a double buy signal this month. Now my lower timeframe version is popping off. Fresh capital incoming,” he indicated.
The Tether Ratio Channel is an on-chain analytical tool that helps traders identify potential buy signals. It tracks the ratio of Bitcoin’s market capitalization to that of stablecoins, acting as a leading indicator for short- to medium-term trends.
When the ratio hits certain levels, it can signal shifts in market sentiment, often indicating whether fresh capital is entering or exiting the market.
While overall crypto inflows have slowed compared to previous weeks, the return of capital into altcoins suggests renewed investor confidence. Analysts see signs of an impending altcoin rally, with market metrics indicating that most coins have bottomed out.
As investors weigh macroeconomic uncertainties, the coming weeks could be critical in determining whether the altcoin recovery sustains momentum or if caution prevails.
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Cardano price is repeating a pattern from 2024 that experts say is a signal for a massive pump in the coming weeks. While present figures are largely underwhelming for ADA, investors are brimming with confidence for a strong reversal in the near future.
Cardano Price Can Reach $2.5 In May
According to pseudonymous cryptocurrency analyst Master Kenobi, Cardano price is exhibiting cyclical behavior. In a post on X, Master Kenobi notes that ADA’s consolidation in recent days mirrors its price action from Q3 of 2024.
At the time, Cardano’s price suffered a steep correction in early August and endured a lengthy consolidation period before rallying. Presently, Cardano’s price is consolidating after the deep in early February that sent prices to $0.49.
“ADA is currently in a consolidation phase that resembles its behavior from August-September 2024,” said Master Kenobi. “Since the dip on August 5, it hasn’t recorded a new low – just as it hasn’t now, following the dip on February 3.”
According to Master Kenobi, a lengthy consolidation phase will be the precursor for an impressive rally for Cardano’s price. The analyst theorizes that the incoming rally will send Cardano to impressive levels in May. In the short term, analysts are eyeing ADA to hit $1, citing rising whale activity and positive fundamentals.
“If this pattern holds, May could bring a massive pump, potentially pushing the price toward $2.5,” said Master Kenobi.
ADA Ripples With Bullish Activity
At the moment, Cardano price is trading at $0.6646, a far cry from its all-time high of $3.10. Despite the lull in price action, the ecosystem is brimming with bullish activity for higher valuation.
Investors have their eyes on $10 after ADA outperformed top S&P 500 companies in a strong show of resilience. Futhermore, increased whale activity in the space is signaling an impending rally for ADA as community sentiment reaches an all-time high.
Analysts have opined that an ADA rally to $10 is not a crazy prediction, citing a slew of positive fundamentals for the network. However, pundits are urging investors to brace for multiple corrections in the march to reach a valuation of $10.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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