Market
Bitcoin eyes the $60k level as Tequila’s fair launch commences today
Key takeaways
- Bitcoin traded above $59k earlier today and could reach the $60k psychological level soon.
- Tequila’s presale commences today as investors eye the next Solana meme coin.
Bitcoin targets $60k
The cryptocurrency market suffered huge losses last week but is slowly recovering. Bitcoin, the leading digital currency by market cap, briefly touched the $59,200 level earlier and now trades at $59,003 per coin.
The major catalyst behind this positive performance is the increased inflow in spot Bitcoin exchange-traded funds (ETFs) in the United States. Furthermore, the US Federal Reserve chairman Jerome Powell also discussed the possibility of interest rate cuts this year while addressing the Congress on Tuesday.
Tequila (JULIO)’s presale commences today
Tequila’s presale launch coincides with this week’s market recovery, with institutional investors pouring funds into spot Bitcoin ETFs and other asset classes. The $JULIO token will launch on the Solana blockchain thanks to the network’s speed, transparency, and other unique qualities.
According to the development team, Tequila is Mexico’s gift to the world from the agave fields of Jalisco. Its $JULIO harmonises the unending fun of tequila-fueled nights with the upside of a memecoin. With $JULION, investors will own a token combining tequila’s allure, one of the world’s most popular distilled liquors, with the excitement of meme coins.
The project has several stages, with the first phase launching today. The phases are Agave Plating, Distillation, Aging, and Bottling. Each phase contains milestones that the team intends to achieve.
The various Tequila phases
As stated above, Tequila (JULIO) has several phases, with the first phase launching today. Tequila seeks to establish a strong foundation within the crypto community and get listed on CoinMarketCap and CoinGecko.
The Agave Plating includes the $JULIO fair launch (which commences today), marketing push, and listing on CoinMarketCap and CoinGecko. In the distillation stage, $JULIO will be listed on centralised cryptocurrency exchanges. However, the team is yet to reveal the crypto exchanges its token will initially launch.
The Aging phase of Tequila’s roadmap includes listing on tier-1 centralised exchanges and its Tequila-themed parties. Bottling is the last phase and comprises Tequila’s Meme utility, the launch of $JULIO on Layer-3, and the creation of Tequila spirit with payments exclusively made in $JULIO.
In terms of tokenomics, there would be a total of 100 million $JULIO tokens. 90% of the tokens would be available for public acquisition and the remaining 10% for marketing activities. The initial liquidity and starting price will be decided at a later date.
Tequila’s launch comes at a time when there is high interest in meme coins, especially Solana-based meme coins. With its unique value proposition, Tequila could quickly become one of the leading meme coins on the Solana blockchain.
Read more about the Tequila project here.
Is $JULIO worth your investment?
The best time to buy tokens at a discount price is during their presale. With the explosion of meme coins, this could be the perfect opportunity to buy $JULIO tokens at a low price.
Tequila wants to become a leading meme coin by introducing a fresh perspective with its thematic approach. With the right level of adoption in the market, $JULIO could be amongst the top winners in the current bull cycle.
Market
GOAT Price Sees Slower Growth After Reaching $1B Market Cap
GOAT price has skyrocketed 214.29% in one month, recently breaking into the $1 billion market cap and securing its place as the 10th largest meme coin. It now stands just ahead of MOG, which closely trails its position in the rankings.
However, recent indicators suggest that GOAT’s uptrend may be weakening, raising questions about whether it can sustain its rally or face a potential correction.
GOAT BBTrend Is Negative For The First Time In 4 Days
GOAT BBTrend has turned negative for the first time since November 17, now sitting at -0.54. This shift suggests that bearish momentum is beginning to take hold, with the asset’s recent upward trajectory starting to weaken potentially.
BBTrend measures the strength and direction of price trends using Bollinger Bands, with positive values indicating an uptrend and negative values signaling a downtrend. A negative BBTrend reflects increased downward pressure, which could indicate the start of a broader market shift.
GOAT has had an impressive November, gaining 61% and reaching a new all-time high on November 17.
However, the current negative BBTrend, if it persists and grows, could signal the potential for further bearish momentum.
GOAT Is In A Neutral Zone
GOAT’s RSI has dropped to 52, down from over 70 a few days ago when it reached its all-time high. This decline indicates that buying momentum has cooled off, and the market has moved out of the overbought zone.
The drop suggests a shift toward a more neutral sentiment as traders consolidate gains and the strong bullish pressure seen earlier subsides.
RSI measures the strength and velocity of price changes, with values above 70 indicating overbought conditions and below 30 signaling oversold levels. At 52, GOAT’s RSI is in a neutral zone, neither signaling strong bullish nor bearish momentum.
This could mean the current uptrend is losing strength, and the price may consolidate or move sideways unless renewed buying pressure reignites upward momentum.
GOAT Price Prediction: A New Surge Until $1.50?
If GOAT current uptrend regains strength, it could retest its all-time high of $1.37, establishing its market cap above $1 billion, a fundamental threshold for being among the biggest meme coins in the market today.
Breaking above this level could pave the way for further gains, potentially reaching the next thresholds at $1.40 or even $1.50, signaling renewed bullish momentum and market confidence.
However, as shown by indicators like RSI and BBTrend, the uptrend may be losing steam. If a downtrend emerges, GOAT price could test its nearest support zones at $0.80 and $0.69.
Should these levels fail to hold, the price could fall further, potentially reaching $0.419, putting its position in the top 10 ranking of biggest meme coins at risk.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Ripple (XRP) Price Hits 109% Monthly Gain as Indicators Weaken
Ripple (XRP) price has experienced a significant rally, rising 51.33% in the last seven days and an impressive 109.09% over the past month. This strong momentum has propelled XRP into a bullish phase, with key indicators like EMA lines supporting its upward trajectory.
However, signs of weakening momentum, such as a declining RSI and negative CMF, suggest that caution may be warranted. Whether XRP continues to push higher or faces a steep correction will depend on how the market reacts to these shifting dynamics.
XRP RSI Is Below The Overbought Zone
XRP’s RSI has dropped to 60 after nearly hitting 90 on November 16 and staying above 70 between November 15 and November 17.
This decline indicates that Ripple has moved out of the overbought zone, where intense buying pressure previously drove its price higher. The drop suggests that the market is cooling off, with traders potentially taking profits after the strong rally.
The RSI measures the speed and magnitude of price changes, with values above 70 indicating overbought conditions and below 30 signaling oversold levels. At 60, XRP’s RSI reflects a still-positive momentum but shows a more balanced sentiment compared to the previous surge.
While the uptrend remains intact, the lower RSI could indicate a slower pace of gains, with the possibility of consolidation as the market stabilizes. If buying pressure returns, XRP price could extend its upward movement, but a further decline in RSI might signal a weakening bullish momentum.
Ripple CMF Is Now Negative After Staying Positive For 14 Days
XRP Chaikin Money Flow (CMF) is currently at -0.12, after showing positive levels between November 5 and November 19. That is also its lowest level since October 31. This shift into negative territory reflects increased selling pressure and a potential outflow of capital from the asset.
The transition from positive CMF values earlier this month signals a weakening in bullish momentum as more market participants reduce exposure to Ripple.
The CMF measures the volume and flow of money into or out of an asset, with positive values indicating capital inflow (bullish) and negative values showing capital outflow (bearish).
XRP’s CMF at -0.12 suggests that bearish sentiment is beginning to gain traction, potentially putting pressure on its price despite the recent uptrend. If the CMF remains negative or declines further, it could indicate sustained selling pressure, challenging Ripple’s ability to continue its upward movement.
Ripple Price Prediction: Biggest Price Since 2021?
XRP’s EMA lines currently display a bullish setup, with short-term lines positioned above the long-term lines and the price trading above all of them.
However, the narrowing distance between the price and some of these lines suggests a potential slowdown in bullish momentum. This could signal that the uptrend is weakening, leaving XRP price vulnerable to a shift in market sentiment.
If a downtrend emerges, as indicated by the weakening RSI and negative CMF, Ripple price could face significant pressure and potentially drop to its support at $0.49, representing a substantial 56% correction.
On the other hand, if the uptrend regains strength, XRP could climb to test the $1.27 level and potentially break through to $1.30, which would mark its highest price since May 2021.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Trump Media Files Trademark for Crypto Platform TruthFi
Trump Media & Technology Group is exploring the development of a crypto payment platform, as revealed by a recent trademark filing.
The application, submitted by Donald Trump’s social media company on Monday, outlines plans for a service named TruthFi. The proposed platform aims to offer crypto payments, financial custody, and digital asset trading.
Following the trademark announcement, Trump Media’s stock rose approximately 2%. At the time of writing, the stock was trading at $30.44, up by nearly 75% this year.
However, details about TruthFi remain scarce, including its timeline or operational specifics. This initiative suggests an effort by Trump Media to expand its business model beyond Truth Social.
The social media platform was established back in 2022, after Trump was banned from Facebook and X (formerly Twitter).
Nevertheless, launching a large-scale cryptocurrency platform could require Trump Media to acquire additional resources or partner with an established firm. This is because the firm currently has a small workforce of less than 40 employees.
“The filing, made with the USPTO on Monday, indicates that Trump Media plans to offer: Digital wallets, Cryptocurrency payment processing services, and A digital asset trading platform,” US Trademark Attorney Josh Gerben wrote on X (formerly Twitter).
As reported by BeInCrypto earlier, Trump Media is also in discussions to purchase the b2b crypto trading platform Bakkt. Shares in Bakkt surged by nearly 140% since the news earlier this week.
Meanwhile, the President-elect’s crypto plans seem to be in full swing even before he takes office in January. He is also reportedly considering the first-ever crypto advisor role for the White House, and interviewing several potential candidates.
Earlier today, the current SEC chair Gary Gensler announced his resignation before Trump’s term begins. Gensler’s resignation boosted the crypto market, as it signals a major change in the SEC’s regulatory stance.
Notably, XRP surged 7% to its highest value in three years. Bitcoin also neared $99,000, as the overall crypto market cap reached $3.4 trillion.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
-
Market21 hours ago
This is Why MoonPay Shattered Solana Transaction Records
-
Ethereum19 hours ago
Fundraising platform JustGiving accepts over 60 cryptocurrencies including Bitcoin, Ethereum
-
Market24 hours ago
Dogecoin (DOGE) Price Momentum Weakens Despite Rally
-
Altcoin24 hours ago
Crypto Analyst Says Dogecoin Price Has Entered Parabolic Surge To $23.36. Here Are The Reasons Why
-
Market23 hours ago
Steady Climb Toward New Highs
-
Altcoin21 hours ago
BTC Reaches $97K, Altcoins Gains
-
Market15 hours ago
South Korea Unveils North Korea’s Role in Upbit Hack
-
Market19 hours ago
Cardano’s Hoskinson Wants Brian Armstrong for US Crypto-Czar