In this weekly analysis of meme coins, BeInCrypto observed that these tokens experienced mixed results. While some tokens saw gains, others grappled with significant losses.

Peanut the Squirrel (PNUT) and AI-created Goatseus Maximus (GOAT) were among the week’s underperformers, both experiencing significant price drops. In contrast, Bonk (BONK) defied market trends, securing its place as one of the top-performing cryptocurrencies. Here’s a detailed recap of the week’s developments.

Peanut the Squirrel (PNUT)

At the beginning of the week, PNUT’s price was $1.94. However, the meme coin’s value has since decreased by 33%. This significant decline could be attributed to selling pressure from those who held the token until it reached an all-time high.

PNUT’s price is currently $1.17. However, the one-hour chart shows that the Relative Strength Index (RSI) has dropped to 31.66. When the RSI climbs to 70.00, it means that the asset is overbought.

On the other hand, if it is below 30.00, it means that it is oversold. Therefore, while the RSI reading indicates bearish momentum, it indicates that PNUT is oversold.

As such, the meme coin’s price could be in line for a rebound. If validated, then PNUT’s price could bounce toward $1.40. In a highly bullish scenario, the meme coin could rally toward $1.72. However, if selling pressure increases again, the price could decrease below $1.15 when we publish the next meme coins weekly update.

Goatseus Maximus (GOAT)

Similar to PNUT, GOAT, another meme coin, faced a sharp decline this week, with its price dropping by 22%.

The price of GOAT has fallen to $0.87, possibly due to waning interest in AI-themed meme coins. The shifting narrative in the meme coin market suggests that some traders may be moving on from the AI buzz, seeking opportunities elsewhere.

Adding to the bearish sentiment, GOAT’s 4-hour chart has revealed a head and shoulders pattern, a classic bullish-to-bearish reversal indicator. This formation suggests that the meme coin could face further downside.

If the pattern plays out, coupled with the negative Moving Average Convergence Divergence (MACD), GOAT’s price could decrease to $0.66. However, a surge in buying pressure could invalidate this bias. If that happens, the value could jump to $1.37.

Bonk (BONK)

Contrary to GOAT and PNUT’s performance, Bonk’s price experienced a 28% hike. This price increase happened because the project disclosed that it would burn 1 trillion tokens by December 25 at the latest.

As a result, this disclosure sent euphoria around the Solana meme coin’s community, driving demand and a higher value for the token. However, BONK faces resistance at $0.000050, which has made it challenging for the cryptocurrency to rise much higher.

Despite that, the Bull Bear Power (BBP) shows that bears do not still have control. If sustained, then BONK’s price could move toward $0.000060. 

On the flip side, if bears outpace bulls’ dominance, that might not happen, as the next meme coins weekly analysis could see it decline to $0.000043.

Bitcoin has reached a new all-time high, briefly trading at $99,500 during Friday’s intraday session before pulling back slightly. As of now, the cryptocurrency is priced at $98,675.

With heightened trading activity as the market anticipates a breakthrough above the $100,000 psychological level, digital asset research firm 10X Research predicts Bitcoin could climb to $115,000 by Christmas.

Why Bitcoin May Touch $115,000 Soon

In its new report, 10X Research found that the BTC market has become flush with liquidity in the past few weeks, a key factor that could drive Bitcoin toward the projected $115,000 mark. 

Stablecoin issuer Tether minted $10 billion in the past month. Also, Circle added $3 billion during the same period, fueling market momentum. This has resulted in a corresponding uptick in stablecoin flows to cryptocurrency exchanges over the past month. In a November 21 post on X, Leon Waidmann, head of research at The Onchain Foundation, confirmed this.

“Stablecoin inflows to exchanges hit $9.7B in 30 days! The LARGEST monthly inflow EVER. Stablecoin liquidity is back. Speculative demand continues to explode,” he said.

The surge in stablecoin inflows to cryptocurrency exchanges is a bullish signal. This influx often leads to increased buying pressure, driving the values of crypto assets upward.

“This massive wave of liquidity is reflected in elevated trading volumes, with spot volumes consistently exceeding $200 billion daily. The cryptocurrency market capitalization has surged past $3.2 trillion, equaling the size of the United Kingdom’s equity market,” 10X Research wrote.

Traders’ activity in the BlackRock Bitcoin ETF (IBIT) options market is another reason its price may climb to $115,000 by Christmas. 10X Research found that as of November 22, call options on IBIT outnumber puts by 5.5 to 1, rising from 3.8 to 1 on Thursday. Call buyers are also targeting strike prices in the 110-120% range, suggesting that they expect Bitcoin’s price to rally beyond $100,000 soon.

“Call buyers focus on strike prices in the 110-120% range, indicating they do not anticipate a short-term cap at Bitcoin’s psychological $100,000 level. Instead, December-expiry options activity suggests expectations for Bitcoin to rally towards $105,000 or even $115,000 by Christmas, with the latter strike showing the highest open interest,” the report stated.

 BTC Price Prediction: All Rests With the Buyers Now

According to the research firm, “this dynamic could trigger a minor gamma squeeze, causing Bitcoin’s price to gravitate toward these levels. As a result, $100,000 may only be another checkpoint on Bitcoin’s upward trajectory.”

BTC is currently trading at $98,675. Sustained buying momentum could push the coin back to its all-time high of $99,500 and potentially beyond. Establishing this level as support may pave the way for a surge toward $100,000 and higher.

On the other hand, if buying pressure weakens, BTC’s price may plunge toward $88,816, where its next major support lies. This will invalidate the bullish outlook above.

Mythical Games and FIFA have revealed plans for FIFA Rivals, an officially licensed mobile football game. The free-to-play title will launch on iOS and Android in the summer of 2025, though an exact release date remains undisclosed.

The game will let players build and manage their own football clubs and compete in real-time online matches. 

FIFA Rivals Will Integrate NFTs

Mythical Games, known for its NFL Rivals mobile game, will also incorporate NFTs into FIFA Rivals. As the studio told BeInCrypto, the game will have its exclusive NFT marketplace. Players will be able to trade their favorite football stars as NFTs.

The studio’s previous title, NFL Rivals, launched in April 2023. It also features collectible and tradeable NFT player cards minted on the Mythos blockchain, built with Polkadot. Since its release, the game has surpassed 6 million downloads across platforms.

Following a similar model, FIFA Rivals will use the Mythos blockchain, allowing players to collect and trade iconic football stars from both past and present eras.

“FIFA Rivals is designed to be highly accessible, featuring a shallow learning curve coupled with advanced features for hardcore players to explore,” Nate Nesbitt, spokesperson for Mythical Games told BeInCrypto. 

This isn’t FIFA’s first foray into NFT and Web3. During the 2022 World Cup in Qatar, FIFA collaborated with multiple blockchain startups to release games and collectible apps. 

“The partnerships we have with both the NFL and with FIFA should open the door for other collaborations between web3 games studios and major sports titles,” Nate Nesbitt told BeInCrypto. 

Increasing Optimism for an NFT Comeback

The announcement coincides with renewed optimism in the NFT space. 

Most recently, ‘Vitalik.eth’, and wallet allegedly linked to the Ethereum co-founder, moved 32 ETH to Base and minted 400 Patron NFTs. These were part of Truemarkets’ fair launch, which allocates a significant portion of its TRUE token supply to Patron holders.

Despite these developments, the NFT market continues to face headwinds. Data from 2024 shows that 98% of NFT collections saw little trading activity, with only 0.2% of projects turning a profit. 

Notably, many NFTs lost over half their value shortly after launch, underscoring challenges for both creators and investors.

Meanwhile, Base, Coinbase’s Ethereum layer-2 network, recently created a commemorative NFT to celebrate its 1 billion transaction milestone. However, the platform faced significant allegations of copying artist Chris Biron’s work. 

Base responded by pledging the NFT proceeds to Biron and promising stricter oversight for future projects.