Altcoin
Sui Community Still Bullish After 24 Hour Dip Mpeppe Secures Support From Sui Whale
In the world of crypto, volatility is nothing new. Sui (SUI), a token that has been on a significant uptrend, experienced a 24-hour dip recently. However, the community remains bullish, with analysts predicting an eventual recovery. Meanwhile, Mpeppe (MPEPE) is drawing attention and support from a major Sui (SUI) whale, signaling the growing interest in this up-and-coming gambling-focused meme coin.
Sui (SUI) Continues Its Momentum Despite Recent Dip
Sui (SUI) has been on a remarkable journey, rising by over 12% in the past week alone. This price surge has grabbed the attention of the broader crypto community, and many analysts expect the momentum to carry on into the fourth quarter of 2024. According to prominent crypto analyst Bmoon, the target for Sui (SUI) by the end of Q4 is set at $3.60, a bullish forecast that comes despite some short-term downward pressure.
At present, Sui (SUI) maintains a market capitalization of $2.37 billion, with a circulating supply of 2.67 billion tokens. The token’s trading volume, however, dropped by 23.07% in the last 24 hours, reflecting some bearish signals that traders are keeping a close eye on. Analysts are particularly focused on the Money Flow Index (MFI), which indicates that Sui (SUI) may be approaching an oversold condition.
Still, the community remains optimistic. The DeFi ecosystem built on Sui (SUI)’s blockchain is thriving, and the token continues to hold its ground even amidst broader market fluctuations. This stability is a key driver behind the positive long-term outlook for Sui (SUI), and it’s why many experts believe that the token will maintain its upward trajectory over the coming months.
Mpeppe (MPEPE) Gains Support From Sui Whale
While Sui (SUI) has been a hot topic, a new player is entering the conversation: Mpeppe (MPEPE). This gambling-oriented meme coin has caught the attention of a Sui (SUI) whale, who has reportedly invested millions into the token ahead of its presale completion. This investment comes as no surprise given Mpeppe (MPEPE)’s unique value proposition and explosive growth potential.
Priced at just $0.0021, Mpeppe (MPEPE) has already completed 80% of its presale, positioning itself as one of the most exciting upcoming tokens in the market. The coin’s appeal lies in its innovative blend of meme culture with a decentralized gambling platform, giving it both viral potential and real-world utility.
Investors are taking notice. With the presale nearing completion and expectations of a 150x return on investment, Mpeppe (MPEPE) is gaining serious traction. The support from a Sui (SUI) whale further validates the token’s potential, as major players in the crypto space are always on the lookout for the next big thing.
Is Mpeppe (MPEPE) the Next Meme Coin to Explode?
While Sui (SUI) has established itself as a strong contender in the DeFi space, Mpeppe (MPEPE) offers a different type of opportunity. With its low price and high growth potential, the token is attracting both seasoned investors and those looking for their first big crypto win.
As more whales continue to show interest in Mpeppe (MPEPE), the token’s value is likely to skyrocket post-presale. Analysts suggest that Mpeppe (MPEPE) has all the ingredients for a successful meme coin rally, from its strong community backing to its real-world use case in decentralized gambling.
Conclusion: Sui or Mpeppe—Which Should You Watch?
Both Sui (SUI) and Mpeppe (MPEPE) offer unique investment opportunities, though they cater to different market segments. Sui (SUI), with its bullish momentum and solid DeFi infrastructure, remains a top choice for those looking to invest in established blockchain projects. On the other hand, Mpeppe (MPEPE) represents a high-risk, high-reward play, appealing to investors seeking meme coin-driven profits.
As the Sui (SUI) community continues to hold bullish expectations despite a brief dip, Mpeppe (MPEPE) is rapidly gaining support from big players, including a notable Sui (SUI) whale. Whether you’re in it for the long haul with Sui (SUI) or aiming for explosive gains with Mpeppe (MPEPE), both tokens offer exciting opportunities for the savvy crypto investor.
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American multinational investment management company Franklin Templeton has made global headlines this Wednesday by revealing that it is eyeing a crypto ETP launch in Europe. The company with over $1.5 trillion in AUM (Assets Under Management) now follows the footsteps of its rivals BlackRock and 21Shares, who previously revealed similar plans for the region. Following its remarkable success in the U.S. with a Bitcoin ETF, this mover has echoed a notable market buzz, paving the way for further investor interaction with the digital asset class.
Franklin Templeton Considers Crypto ETP Launch In Europe
According to an X post by Bitcoin Magazine on April 2, Franklin Templeton is considering launching Bitcoin and crypto ETP in Europe. With this decision, the asset manager is poised to join the fray alongside BlackRock and 21Shares to achieve such a feat in the region.
A company spokesperson revealed that while plans to launch a digital asset-backed ETP are not “immediate, “observing and keeping pace with the evolving regulatory framework in Europe and elsewhere to create those cryptocurrency products that best cater to our clients’ demands” remain vital. Also, they added, “We are constantly exploring the possibility of launching innovative products in all asset classes,” ETF Stream reported.
Franklin Templeton Follows BlackRock & 21Shares’ Footsteps?
Meanwhile, CoinGape recently reported that BlackRock also launched its iShares Bitcoin Trust in the same region. This ETP is featured on Xetra and Euronext Paris under the ticker IBIT, while investors can also find it on Euronext Amsterdam.
Additionally, asset manager 21Shares expanded its crypto ETP offerings in Europe the previous week. Reportedly, the asset manager launched Bitcoin, Solana, and XRP Exchange-Traded Products (ETPs) on Nasdaq Stockholm, enhancing regional investor participation for the digital asset class. Overall, the European crypto ETP scenario continues to take a paradigm-favorable shift as Franklin Templeton now joins the race, adding to institutional support in the region.
Bitcoin ETF Success In The U.S. Garners Attention
Simultaneously, it’s worth taking into account the prominent market success of Franklin Templeton Digital Holdings Trust (EZBC) in the U.S. Sosovalue data indicates that the asset manager currently holds net assets worth $428.52 million within its spot Bitcoin ETF holdings. The considerably large holdings in just a year of BTC ETF’s inception underline the trading products and the asset manager’s phenomenal success. This market capitalizing stand also fuels optimism for crypto ETPs launch in Europe, given the feat happens ahead.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
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.
The SHIB community is once again surfing optimistic tides within the crypto realm with a staggering 12,000% uptick in the Shiba Inu burn rate and a key Shibarium milestone achieved lately.
On Wednesday, April 2, burn statistics signaled that over 115 million coins were removed from the circulating supply, whereas transactions on the Layer 2 blockchain scaled new heights by topping 1 billion. In response, crypto market participants are now eyeing a highly bullish future for one of the most renowned dog-themed meme tokens amid bolstered market dynamics.
Shiba Inu Burn Rate Soars Over 12,000%, Supply Takes A Blow
Data from the official tracker Shibburn indicated that the SHIB burn rate surged 12,278.89% in the past 24 hours. Per the data, this massive surge rode the back of 115.89 million tokens removed from the supply in just a day.
Notably, the burn mechanism permanently reduces the circulating supply by transferring tokens to a null address. As a response, traders and investors weigh bullishness on the asset’s future prospects by considering the law of supply and demand.
With today’s massive burn saga, the total number of coins killed to date reached 410.72 trillion SHIB. Meanwhile, 584.35 trillion tokens still remain in circulation. Further, it’s worth mentioning that the wallet address “0xc439514852e132c” single-handedly burnt 92.64 million tokens, aiding the surge.
The impact of the constant Shiba Inu burns has kept investors hopeful about a price rally ahead. On the other hand, the coin’s layer 2 blockchain, Shibarium, is making monumental strides.
Shibarium Transaction Volume Hits 1B
SHIB’s marketing lead Lucie further revealed on X that the transaction volume on the Layer 2 blockchain has crossed the 1 billion mark. This chronicle has added to the optimistic buzz orbiting the crypto as it underscores its network’s rising popularity.
Soon after its launch in August 2023, the L2 network gained significant traction with its vast offerings. Ranging from seamless transactions and gaming opportunities to utilities with tokens such as TREAT, LEASH, and BONE, the L2 network offers users top-notch services in the Web3 space. The rising transactions add to bullish market sentiments, accompanying the Shiba Inu burn rate upswing.
Is SHIB Price Gearing Up For A Rally?
Despite the bullish advancements, SHIB price traded down nearly 4% today, resting at $0.00001224. The meme coin hit a low and a peak of $0.00001214 and $0.00001312 in the past 24 hours. Besides, the weekly chart also indicated a 20% crash in value. This bearish action has kept investors cautious over future aspects despite the Shiba Inu burn surge and Shibarium advancement.
Simultaneously, a renowned crypto market trader going by the name Nebraskangooner revealed that SHIB continues to reject resistance just like other altcoins. Crypto market participants continue to thoroughly monitor the token, given that some market stats indicate a bullish stance whilst the price wanes.
Also, CoinGape reported that the coin’s lead developer, Shytoshi Kusama, shared a cryptic location update recently. The abovementioned chronicles are some of the most buzz-worthy Shiba Inu news lately.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
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.
Pi Network seems to be losing ground as Pi Coin price continues to face strong selling pressure, dropping another 4% and slipping under $0.70. Furthermore, the PI trading activity in the ecosystem is also dropping, showing that the investors’ euphoria is fading away quickly. Also, the PI token unlocks happening over the past week and so have led to a negative sentiment.
Pi Network Faces Backlash Despite PiFest Announcement
Earlier today, the Pi Core team announced that the inaugural PiFest on the Open Network saw record participation, with over 125,000 registered sellers—including more than 58,000 active sellers—and 1.8 million Pioneers utilizing Map of Pi, while highlighting Pi’s real-world utility worldwide.
However, the community doesn’t seem to be pleased by this. Commenting on the reality of the PiFest, Dr. Altcoin noted: “Since the PiFest started, Pi trading activity in the Eco-system has been at its lowest. The only trade was selling Pi for Cash”. While slamming the core team further, Dr. Altcoin stated that the Pi co-founders “seem out of touch with the realities of the everyday Pi Community”.
Other community members have slammed Pi Core Team’s communication approach, stating that it has remained unchanged since the enclosed mainnet phase. Critics like Dao world argue that the monthly updates are too predictable and insufficient for sustaining a large and engaged community.
Community members are now advocating for a more transparent communication strategy, with calls for a new leadership figure who has a deep understanding of cryptocurrency.
Pi Network Reduces Base Mining Rate by 1.18% This Month
The Pi Network’s base mining rate has dropped by 1.18% this month, now standing at 0.0029030 π per hour. This adjustment continues the network’s trend of gradual mining rate reductions. Some community members speculate that the declining interest in mining may be linked to Pi’s current low trading value on exchanges.
Despite talks of the Pi Network listing on top crypto exchanges like Binance and Coinbase, it hasn’t fructified so far. However, the BTCC exchange stated that it has added the cryptocurrency for spot trading, but it failed to add any upward momentum to the Pi coin price.
Where’s Pi Coin Price Heading Next?
Over the past seven days, the Pi coin price has tanked by 20%, with the next crucial support levels at $0.60. Furthermore, the correction under $0.70 comes with heavy selling pressure as daily trading volumes tanked 52% to $148 million.
Pi Network is currently forming a classic falling wedge pattern, testing the lower boundary near $0.687. A confirmed breakout with volume above the $0.71–$0.72 range could signal a bullish move, potentially pushing the price toward $0.75–$0.78, where key resistance levels lie.
Some market analysts still have the hope that PI cryptocurrency could reverse the trajectory to hitting highs of $3 and above.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
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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