Market

Can PEPE Price Manage to Chart a 32% Rise This Week?

Published

2 hours ago

October 18, 2024

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PEPE price has been riding an uptrend recently, showing promising signs of bullish momentum. However, despite the optimistic outlook, the price has struggled to realize its full potential.

Negative signals from key network indicators are also clouding the situation. These factors have led to uncertainty about whether PEPE can maintain its upward trajectory or face a correction in the coming days.

PEPE Exhibits Mixed Signals

One of the most concerning indicators for PEPE is the spiking NVT (Network Value to Transactions) ratio, which has reached a four-week high. A high NVT ratio typically suggests that the network is overvalued relative to the number of transactions taking place.

This is often viewed as a bearish signal because it indicates that the price may not be supported by enough real-world activity on the network. With PEPE’s NVT ratio spiking, there’s a growing risk that its price could face downward pressure. This elevated NVT ratio could hinder PEPE’s ability to sustain its recent uptrend.

On the technical side, PEPE’s momentum looks stronger. The Relative Strength Index (RSI), a key indicator of market sentiment, shows that the coin’s bullish momentum is picking up.

After bouncing off the neutral 50 line, the RSI is now trending upward, which supports a potential price increase for PEPE. This suggests that despite some negative signals, the coin still has room to grow in the short term.

PEPE Price Prediction: Wait Ahead

PEPE has been in an uptrend over the last few weeks, but it is currently facing resistance at the $0.00001146 level. The meme coin has struggled to break through this barrier in the past, creating uncertainty about whether it can succeed this time. Overcoming this resistance is key to continuing its upward movement.

Despite the bullish momentum indicated by the RSI, the mixed signals from other indicators may keep PEPE subdued below the $0.00001146 mark. The coin has established an uptrend line as support, but if it loses this level, PEPE could fall to $0.00000839. This would represent a significant correction, reversing some of its recent gains.

PEPE Price Analysis. Source: TradingView

However, should PEPE manage to breach the $0.00001146 resistance, it could rally towards $0.00001369, forming a new four-month high. This would invalidate the bearish-neutral outlook and reinforce the coin’s bullish trend, setting the stage for further growth in the weeks ahead.

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.

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Expert Calls On Ripple Community To Collectively Send XRP Price On 1,800x Rally To $1,000

Published

2 mins ago

October 18, 2024

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Este artículo también está disponible en español.

The idea of the XRP price reaching $1,000 has once again gained traction as a social media platform X user called Drewski called for the Ripple community to unite in driving XRP to the unprecedented price level. While Drewski’s post reignited the conversation, the $1,000 price target is far from new, as it has been a goal shared by many XRP investors for years.

Bold $1,000 Price Target For XRP

Drewski’s comment on XRP echoes the entire cryptocurrency investor community. Particularly, it can be inferred that the investor is confident that the combined strength of the Ripple community can trigger a historic price surge for XRP.

How Feasible Is The $1,000 Price Target?

While the prediction is exciting, there are skeptics who question whether XRP can realistically reach $1,000. Critics highlight the enormous market capitalization required to reach this level. For XRP to hit the $1,000 mark, it would either need to achieve a market cap of $99.99 trillion based on its current total supply or burn most of its supply. Many critics are also quick to point out the regulatory uncertainties surrounding XRP and Ripple.

If you ask many crypto participants, many will call XRP dead, considering the crypto has performed poorly than many expected in recent years.

Currently, XRP is trading at a fraction of the $1,000 target. At the time of writing, XRP is trading at $0.5515. The cryptocurrency has been down by 0.7% in the past 24 hours but remains up by 2.5% in a seven-day timeframe.

To reach the price target, XRP would need to go on a 1,800x price surge from the current level, which would make many of its holders multi-millionaires. Therefore, the prospect of such a move has kept the dream of a $1,000 price target alive for many XRP enthusiasts. A more realistic dream would see XRP break above the $1 mark before reaching the double-digit threshold at $10.

For XRP to go on a steady rally, it would need to continue growing in adoption in the traditional financial system. Furthermore, a final resolution to the ongoing Ripple-SEC lawsuit is needed, as achieving regulatory clarity could bring the dream of a $1,000 XRP closer to reality than ever before.

XRP price chart from Tradingview.com — XRP price looks to break resistance | Source: XRPUSDT on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com

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Market

How Hamster Kombat Capitalizes on Telegram’s NFT Growth

Published

1 hour ago

October 18, 2024

admin

NFTs (Non-Fungible Tokens) are trying to get back the hype and catch the attention of Web3 enthusiasts. Recent reports show that Telegram has become a surprising new hub for activity involving these digital collectibles.

Non-fungible tokens create blockchain-based digital certificates for one’s digital collectibles, including games, music, and art, giving the artwork a unique identity.

NFT Integration Advances Telegram Gaming Ecosystem

Helika’s “Q3 ‘24 Telegram Games Report” provided extensive insights into how NFT interactions are advancing on the messaging app. In July, the daily number of unique wallets transferring NFTs on Telegram was below 200,000 but had skyrocketed to over one million by September. This represents a growth of over five times in less than two months.

Against this backdrop, the report showed NFT activity on Telegram surged by a staggering 400% in the third quarter (Q3) of 2024. The rise in activity is largely attributed to Telegram’s ability to seamlessly integrate NFT transactions into its gaming ecosystem.

Based on the research, nine Telegram games attracted three million active wallets in September. Users were also transferring NFTs, and player interaction time increased. In early October, for example, the platform doubled its player interaction, partly ascribed to NFT usage.

Taken together, these developments reflect a broader trend of Web3 adoption on Telegram. This is as more users venture into decentralized assets, games, and digital ownership within the messaging app’s TON blockchain.

Meanwhile, the viral tap-to-earn game Hamster Kombat may take the spotlight again in Telegram’s expanding NFT ecosystem. The Web3 clicker game is planning to integrate NFTs as in-game assets in its upcoming second season, which is due to launch in November.

The game’s developers have also teased an intriguing new storyline. Players will be able to act as CEOs of their own companies, further gamifying the experience of owning and trading NFTs. This will go into effect as part of the clicker game’s roadmap for the remainder of 2024 and 2025.

Hamster Kombat 2024-2025 Roadmap, Source: hamsterkombatgame.io

Successes in these ventures would serve as prime examples of how Telegram’s games go beyond gameplay experiences. Rather, they integrate with Web3 mechanics, increasing their appeal among gaming enthusiasts and crypto investors.

Specifically, the addition of NFTs would add a layer of ownership and value to in-game items. This transforms traditional gaming models into Web3-powered economies where players can earn, trade, and collect valuable assets.

Meanwhile, it is impossible to ignore that the success rates of NFTs have also been put into question. As BeInCrypto reported, 96% of NFTs are considered dead, and holders of affected digital collectibles suffer losses. The challenges range from rug pulls to wash trading for fake demand.

The legal playing field around NFTs also remains unclear, making it risky for people thinking about entering the market. Hamster Kombat would have to navigate these hurdles to secure a competitive place within the NFT space.

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.

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Market

WIF Price Approaches $2.89 Resistance As Bulls Regain Control

Published

3 hours ago

October 18, 2024

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Dogwifhat (WIF) has resumed its upward trajectory, with the price approaching the key $2.89 level as bulls take back control. After a period of consolidation, renewed buying pressure has fueled the meme coin’s rise, signaling that momentum is once again favoring the bulls. With increased buying pressure and positive market sentiment, WIF is showing signs of an impending uptrend.

As WIF edges closer to this significant resistance level, this article will assess its recent price action, highlighting the bulls’ regained strength. Through an analysis of key technical indicators and market dynamics, this piece seeks to evaluate whether the current bullish momentum is strong enough to push WIF past the $2.89 resistance, signaling the potential for further upward movement.

Market Sentiment Shifts: Bulls Take Charge As Buying Pressure Increases

WIF has consistently held its position above the 100-day Simple Moving Average (SMA) on the 4-hour chart, signaling upside movement. Recently, the asset experienced a rebound from the $2.45 support level, further enhancing positive market sentiment.

If the price remains above the SMA, it could establish a solid foundation for another upward movement toward the $2.89 resistance level. This combination of support and bullish arrows suggests that WIF is well-positioned for more gains in the near term.

An analysis of the 4-hour Relative Strength Index (RSI) indicates renewed upside potential, with the RSI climbing to 49% after previously dipping to 41% suggesting that buying momentum is gaining strength as the market shifts from a bearish phase toward a more neutral stance.

Additionally, the daily chart shows that WIF is facing significant upward pressure, as evidenced by attempts to form bullish candlesticks. This positive trend is further supported by the asset’s position above the critical $2.20 support level and the 100-day SMA. As WIF continues on this path, it strengthens the optimistic sentiment in the market, paving the way for additional gains as it nears the $2.89 mark.

Lastly, the RSI on the daily chart is currently at 58%, having recently recovered from a dip to the 56% threshold. Should the RSI continue to climb, it could signal further strength in WIF’s price action. Furthermore, a sustained move above the 60% mark could enhance the likelihood of continued upbeat momentum and potential breakouts, reinforcing the positive outlook for the asset.

Key Resistance At $2.89: Can WIF Break Through?

WIF’s price could reach the $2.89 resistance level if it demonstrates sustained bullish pressure, bolstered by strong buying volume and positive market sentiment. A successful breakout above $2.89 may pave the way for further gains, possibly leading to new highs and increasing investor interest.

Conversely, if WIF fails to break through this level, it could lead to a pullback, causing the price to drop toward the $2.25 support level. Should it fall below this mark, the meme coin may continue its decline, potentially targeting the $1.50 level and beyond.

WIF

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