Altcoin
Which Sector Is Outperforming & Why?
Amid this year’s ongoing crypto bull cycle, apart from Bitcoin emerging as the talk of the town due to its halving, the upside momentum was carried further by meme coins and AI & Big Data coins. These sectors have garnered noteworthy investor attention in recent days, primarily attributable to a plethora of bullish market factors. Intriguingly, the most asked question among crypto traders and investors is the potential the meme and AI coins sector has to offer. Here’s a collective overview of which one of the above crypto sectors is currently outperforming and why.
The Battle Between Meme & AI Cryptos
Amidst the BTC halving frenzy witnessed this year, the broader crypto market has experienced a significant upside momentum, with prices continuing to rise even today. This market pressure has led to remarkable gains in both the meme and AI sectors, offering investors promising returns on their investments.
However, upon deeply scanning market statistics, it can be seen that one sector appears to have emerged more prominently than the other on crypto market traders’ and investors’ radars.
Meme Coins Take The Lead
With a market capitalization of $57.89 billion, the meme coin sector undermines the $43.17 billion market cap of AI and big data tokens. Further, the trading volume for meme tokens totaled $9.17 billion, whereas AI tokens’ trading volume was $3.31 million. This data underscores heightened investor interest in the meme coin sector, with more upside momentum.
Notably, the meme coins sector has displayed the potential to offer investors more ROI (Return on Investment) this year, as seen by the phenomenal price rallies of top meme coins, DOGE, SHIB, and PEPE. CoinGape Media reported that PEPE hit a new ATH this year while sustaining its bullish momentum, highlighting considerable profits nabbed by whales and smart money addresses. Simultaneously, DOGE & SHIB also surged remarkably, with annual charts illustrating gains worth 100%-200%. This fueled immense optimism on meme coins’ potential to offer gains within short-term prospects.
AI Coins Right Behind
However, AI and big data tokens also appear to have unparalleled gains in the pipeline. The recent surge in the adoption and growth of AI (artificial intelligence) across the globe stages as a highly optimistic factor for this crypto sector.
Meanwhile, Nvidia, the AI tech giant whose stock investors watch to gauge-in on AI-based crypto tokens directly, is continuing to cement its foothold in the AI industry. With Nvidia stock target prices raised to unprecedented levels, an optimistic tint for AI tokens hovers over the market. Additionally, recent reports spotlight Nvidia’s plans to partner with Dell to scale AI endeavors further.
This continues to paint a bullish scenario for AI-based tokens’ long-term prospects over the crypto horizon. Nonetheless, meme coins are much more prominent on investors’ radars, as mentioned above, potentially due to their high short-term ROI.
As also mentioned by renowned crypto market analyst Miles Deutscher, PEPE and WIF, a Solana-based meme coin, are potentially two of the best R/R holds this bull cycle. R/R refers to the Risk/ Return ratio, a measure used to assess the potential return of an investment relative to its risk.
Also Read: Bitcoin Price: BTC To Face $1.4 Billion Liquidation If Price Jumps To This Level
Top Meme & AI Tokens With Today’s Price Movements
Dogecoin (DOGE), the largest meme crypto by global market cap, has gained 8.03% in the past 24 hours and is currently trading at $0.1645. Shiba Inu (SHIB) is trading at $0.00002562, up 6.28% today. Pepe coin (PEPE) stands at $0.00001118, rallying 18.58%.
On the other hand, NEAR protocol (NEAR) jumped 3.70% in the past 24 hours and is resting at $8.21. Render (RNDR) surged 10.81% to $11,20. Whereas, The Graph (GRT) rallied 10.66%, reaching $0.3455.
Also Read: Here’s Why the Ethereum (ETH) Price is Rising Heavily Today
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 recent buzz of the P2E (play to earn) crypto sector, Hamster Kombat, a Telegram-based game, has continued amassing investor attention. Notably, as the token’s airdrop looms to take place this month, the Hamster Kombat community has recently posted on X, sparking discussions across the global crypto community.
In its post dated July 4, the community raised questions about when the launch, airdrop, and token generation will take place. The post has promptly attracted the attention of noteworthy prominencies.
Hamster Kombat Airdrop
With its post on X, the Hamster Kombat community sparked discussions around “wen launching?; wen airdrop?; wen TGE?.” Moreover, discussions also involved what the community was cooking for future developments.
Intriguingly, Azara.ton, a Co-builder at Ton France, also posted showcasing a sense of trust in the P2E project. These chronicles, collectively, have added an optimistic tint to the upcoming crypto on the TON blockchain.
CoinGape Media previously reported that the Telegram project plans its TGE and rolling out in-game token utility this month. However, the global community has yet to witness an official announcement from the project.
Also Read: Crypto Crackdown By South Korea To Delay Global Crypto Market Recovery, Here’s Why
Hamster Kombat P2E
Meanwhile, the Telegram game continues to garner attention among market participants across the globe. The gameplay mandates a user to complete 10 levels with their hamsters, reaching from bronze to the “Lord” level.
Completing this promises rewards with the upcoming airdrop, which the project says is underway.
In-game features include buying cards for passive income opportunities. These cards, varying from Markets, PR & Team, and many others, ‘mine’ the coins earned in-game for reward facilitation. Moreover, the game also offers attractive features like daily rewards, further magnetizing users globally.
Meanwhile, the community’s Telegram page spotlighted that Pavel Durov, founder and CEO of Telegram, also started playing the game. These developments, collectively, have echoed optimism for the P2E project across the crypto sector.
Also Read: Dogecoin Whale Bags 90M Tokens Amid Market Crash, What’s Next For DOGE?
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.
In an unprecedented development witnessed amid the broader crypto market’s phenomenal crash today, a Dogecoin whale turned heads with its massive accumulation. Recent on-chain insights reveal that a whale bagged a whopping 90 million DOGE from the Binance crypto exchange.
This accumulation has glimmered hope for Dogecoin’s future price endeavors despite its recent dip to the $0.11 price level. So, let’s delve deeper into the accumulation and DOGE’s current market dynamics.
Whale Bags 90M Coins Igniting Optimism
According to the insights provided by the blockchain tracker Whale Alert, 90 million DOGE tokens, worth $10 million, was accumulated by the whale address DGmzv39riE. This accumulation underscored the whale’s undeterred sense of confidence in the asset.
Crypto market whales are large-scale investors who market participants closely monitor to judge market mood, risks, and sentiment. Notably, massive accumulations usually add a bullish tint to a coin’s future prospects.
Further, as per data by Blockchair, the abovementioned address held a whopping 1.42 billion DOGE, worth $157.30 million. This data weighs the balance towards the bullish side for Dogecoin, as, despite the recent crash, the whale has refrained from selling. This could also mean that further price pumps may be imminent, as the correction is a short-term part of the ongoing bull run.
Simultaneously, at press time, DOGE remained in the negative territory despite the buying pressure brought upon the whale.
Also Read: Crypto Crackdown By South Korea To Delay Global Crypto Market Recovery, Here’s Why
DOGE Price Pullback, What’s Next
As of writing, the DOGE price chart showed signs of a pullback, tanking 7.08% to $0.1101. Its 24-hour lows and peaks were recorded as $0.1103 and $0.1196, respectively.
It is worth noting that Dogecoin corrected 10.46% over the past week, whereas the monthly chart showed a 30% crash. This slumping action comes in line with the broader market volatility.
Besides, a recent analysis by CoinGape Media spotlighted that an extended bearish movement could pave the road for DOGE to hit the $0.1 support level. Nonetheless, the whale accumulation has sparked riveting market sentiments, pushing Dogecoin market participants onto a hot seat.
Coinglass data added on to this uncertainty as DOGE’s Futures OI dipped 3.42% to $578.21 million, whereas derivatives volume upsurged 64.80% to $1.64 billion. This data hinted at uncertain investor sentiments prevailing in the market.
Also Read: Ripple Vs SEC Update — Lawyers Reveal How SEC’s Reply Impact Final Decision
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.
Against the backdrop of the crypto market’s remarkable bearish movement today, an XRP whale has continued to dump significant amounts of coins to exchanges. Over the past day, nearly 65 million XRP was recorded to have been offloaded, raising severe concerns among crypto market participants.
XRP is currently feeling the heat of the broader market’s downtrend, as also seen by Bitcoin (BTC) slipping as low as the $57K mark. Further, the whale’s dump, despite the recent advancements in the XRP lawsuit, has curated a storm of speculations on future price movements.
Whale Dumps 65M Coins
In a couple of posts shared by the on-chain transaction tracker Whale Alert, it was pointed out that 64.70 million coins were shifted to CEXs via the same whale address. As per the data, the address …Rzn was registered to have been making the massive dump.
Intriguingly, the whale shifted 32.69 million XRP, worth $15.12 million, to the Bitso crypto exchange. Meanwhile, in another transaction, the whale shifted 32.01 million XRP, worth $14.82 million, to the Bitstamp crypto exchange.
The emergence of these transactions amid XRP showing signs of a pullback has raised bearish market sentiments. Also, it’s worth noting that speculations of this whale being linked to Ripple persist. For context, these transactions became a recurring phenomenon soon after Ripple strategically acquired a stake in Bitstamp.
In the interim, XRP price continued to dip, aligning with the whale’s massive dump and the broader market trend. Despite positive developments in the Ripple vs the U.S. SEC lawsuit, as Ripple filed a notice of supplemental authority, the XRP community is yet to witness a significant shift in market sentiment.
Also Read: German Govt Dumps Another 1300 Bitcoin To Coinbase, Kraken & Bitstamp
XRP Price Tanks
At press time, XRP price showed signs of a pullback, falling 6.84% to $0.4502. The Ripple-backed asset’s 24-hour lows and highs are $0.4486 and $0.4833, respectively.
XRP’s Futures OI dipped 10.08% to $547.41 million, coinciding with the price fall. However, the derivatives volume rocketed 86.88% to $1.58 billion. This hinted at an uncertain market sentiment for XRP.
Meanwhile, crypto analyst Dark Defender took to X, spotlighting the cryptocurrency’s turbulency below $0.4623. The analyst states that the volume is currently at a shallow level, indicating a lack of market activity with no selling or buying. This could potentially pave the way for a dip to $0.3917 should XRP close below $0.4623.
Crypto market enthusiasts continue to eye the token for vital shifts ahead.
Also Read: Ethereum Roll-Out EIP-7732 Proposing Major Shift In Block Validation Process, Here’s All
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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