Altcoin
Savvy ETH Whale Turns $20,000 Into $200,000 With Starknet and Mpeppe Two Of The Hottest Coins Right Now
In the fast-paced world of cryptocurrency, the right timing and investments can lead to massive profits, especially for savvy investors who know where to place their bets. One Ethereum (ETH) whale has managed to turn a modest $20,000 investment into a staggering $200,000 by smartly diversifying into two of the hottest cryptocurrencies of the moment: Starknet (STRK) and Mpeppe (MPEPE). As both coins experience significant price movements, investors are taking a closer look at how these tokens are redefining the market.
Starknet’s Struggles Amid Market Gains
Despite broad market surges, Starknet (STRK) recently experienced a sharp 3% decline. As Bitcoin and other altcoins surged in value, Starknet (STRK) failed to capitalize on the bullish momentum. According to data, STRK saw its price dip to $0.4137, sparking concerns among investors. This decline has largely been attributed to large-scale transactions linked to the Three Arrows Capital (3AC) liquidation process, which saw 2.07 million STRK tokens transferred for an over-the-counter (OTC) sale on September 9.
Three Arrows Capital, which filed for bankruptcy following the Luna crash of 2022, continues to sell off assets to pay down its massive debts. As more Starknet (STRK) tokens are offloaded, many fear that STRK could experience further price drops in the coming days. However, some investors remain optimistic, viewing this dip as a potential buying opportunity.
Why Starknet (STRK) Fell
The liquidation process of Three Arrows Capital has cast a long shadow over Starknet (STRK). On-chain data revealed that the insolvent company’s liquidation address transferred 2.07 million STRK tokens (valued at approximately $856,000) to Wintermute for sale. The transfer of such a significant amount of tokens for an OTC sale has caused many to speculate that further downward pressure could be placed on the coin in the near term.
As the Three Arrows Capital liquidation unfolds, more crypto assets—including Starknet (STRK)—are expected to be sold off. This has led to increased selling pressure on the token, pushing its price down as a result. Crypto enthusiasts are keeping a close eye on whether Starknet (STRK) can recover once these liquidations are completed.
Ethereum (ETH) Whale Takes Advantage of Market Shifts
While Starknet (STRK) faced challenges, some Ethereum (ETH) whales saw this as an opportunity to capitalize on the downturn. One savvy ETH whale invested heavily in both Starknet (STRK) and the up-and-coming Mpeppe (MPEPE), turning a $20,000 initial investment into a 10x return. Mpeppe (MPEPE), a casino-themed cryptocurrency, has quickly become a fan favorite due to its strong community backing and the potential for significant short-term gains.
This Ethereum (ETH) whale’s strategy reflects a broader trend among investors who are looking for projects with high upside potential. While Ethereum (ETH) remains a dominant player in the crypto space, many of its investors are seeking new opportunities with smaller, faster-growing tokens like Starknet (STRK) and Mpeppe (MPEPE).
Mpeppe (MPEPE): The Newcomer with High Potential
Mpeppe (MPEPE) is making waves in the crypto community with its innovative approach to decentralized gambling. With a current price of $0.0021, Mpeppe (MPEPE) has attracted a loyal following of both retail and institutional investors, including ETH whales. The coin’s unique combination of meme culture and decentralized finance (DeFi) features makes it a prime candidate for explosive growth.
Mpeppe (MPEPE)’s presale has already gained significant momentum, and investors are eagerly awaiting its full launch. With projections of 150% gains in the short term, Mpeppe (MPEPE) is positioning itself as one of the top investment opportunities for those looking to capitalize on new, fast-growing projects.
Why Ethereum (ETH) Investors are Flocking to Mpeppe
Ethereum (ETH) investors, in particular, have shown a keen interest in Mpeppe (MPEPE). As ETH whales search for opportunities to diversify their portfolios, Mpeppe (MPEPE) offers the potential for outsized returns compared to more established assets like Ethereum (ETH). The relatively low price point and promising market dynamics make Mpeppe (MPEPE) an attractive investment, especially for those looking to maximize their profits in a short period.
Additionally, the decentralized gambling space is a growing market, and Mpeppe (MPEPE) is well-positioned to take advantage of this trend. With more investors piling in, the demand for Mpeppe (MPEPE) is likely to increase, driving its price higher.
Conclusion: The Future of Starknet and Mpeppe
While Starknet (STRK) continues to face challenges due to the Three Arrows Capital liquidation, many investors see this as a temporary setback. If the token can stabilize and recover from the current price dip, it could offer a strong upside for those willing to take the risk. On the other hand, Mpeppe (MPEPE) is emerging as a powerful contender in the cryptocurrency market, with significant growth potential.
For Ethereum (ETH) whales and other savvy investors, the combination of Starknet (STRK) and Mpeppe (MPEPE) presents a unique opportunity to diversify and capitalize on both long-term and short-term gains. As the crypto market continues to evolve, these two tokens could prove to be some of the most profitable investments of 2024.
For more information on the Mpeppe (MPEPE) (MPEPE) Presale:
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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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