Onyxcoin has struggled since reaching a year-to-date high of $0.04 on January 26. It has since shed over 70% of its value to trade at $0.011 at press time.

However, the renewed optimism in the broader crypto market is shifting sentiment toward XCN, setting it up for a recovery.

XCN Traders Bet Big on a Comeback

On-chain data suggests that demand for long positions is increasing, hinting at a resurgence in traders’ confidence. At press time, XCN’s long/short ratio is at 1.35, its highest in over 30 days. 

The long/short ratio measures the proportion of long positions (bets on price increases) to short positions (bets on price declines) in the market. A ratio below one means there are more short positions than long ones. Conversely, a ratio above one suggests that traders are taking more long positions, signaling a bullish outlook on the asset. 

When the ratio is this high, traders expect the price to rise, increasing the buy orders in the market. If this continues, it will drive up XCN’s demand and, as a result, its price. 

Additionally, the token’s weighted sentiment is positive, further reinforcing the notion that investors’ confidence in XCN’s short-term recovery is increasing. At press time, this on-chain metric stands at 0.82. 

An asset’s weighted sentiment measures its overall positive or negative bias, considering both the volume of social media mentions and the sentiment expressed in those mentions. 

When it is positive, it is a bullish signal. It indicates a growth in positive bias toward XCN, which could prompt its investors to increase their trading activity, driving up its value. 

XCN Bulls Eye a Break Above Descending Channel

On the daily chart, XCN is poised to break above the upper trend line of the descending channel which has kept its price in a decline since January 26. 

If successful, the bullish breakout could propel the token’s price to $0.022, a high it last reached on February 18.

If the downtrend persists, XCN could fall below the lower trend line of its descending channel which forms support at $0.0085. In this scenario, its price could drop lower to $0.0075.

Ben “BitBoy” Armstrong, a popular crypto influencer, was arrested in Florida last night. Based on his social media posts, it seems like the reason was harassing or possibly threatening a Judge over email.

BitBoy is being held without bond, rendering him unable to bail out of incarceration for the foreseeable future.

Why Was BitBoy Arrested?

Ben “BitBoy” Armstrong, a prominent crypto influencer, has been involved in a fair share of scandals. Two years ago, he was removed from the BitBoy YouTube channel, which rebranded in his absence.

He was also arrested in 2023 for loitering, and his business ventures have suffered. Last night, Armstrong was arrested again in Florida.

According to BitBoy’s arrest record, he was determined to be a fugitive from justice and held without bond. This means that Armstrong has no way of bailing out of jail before pre-trial hearings begin.

Although some members of the community speculated that he was detained for causing a public disturbance, the evidence is not credible.

Similarly, although BitBoy has allegedly been involved in promoting rug pulls and other shady projects, this also seems unrelated to this incident.

Instead, a look at his social media accounts shows some revealing information. His case got a lot of buzz in the crypto community due to his active participation in social media networks.

A Series of Questionable Actions

Five days ago, BitBoy confirmed that there was a warrant out for his arrest.

“I can now confirm that the warrants for my arrest are due to me sending emails (as my own attorney by the way) to the dishonorable Kimberly Childs of Cobb County who has now deleted her Twitter,” Armstrong claimed via social media.

In other words, BitBoy was already involved in some sort of legal dispute, likely related to his former arrests. By emailing Judge Childs, his actions may have constituted harassment, if not outright threatening statements.

Armstrong was also representing himself in court, a highly inadvisable move that may have added to the Judge’s ire.

This isn’t the first time something like this has happened. In 2023, BitBoy was in legal hot water for harassing an attorney in a different legal battle, although he was not arrested in this incident.

He has a pattern of erratic behavior like this; his most recent social media posts involved bizarre tirades against a young actor who coincidentally shares his name.

Until the legal battle proceeds, the public won’t have any access to the harassing emails in question. It’s unclear how long it will take for BitBoy to get a hearing after his arrest.

Whatever happens, this strange battle and incarceration may impact his ability to retain a meaningful following in the crypto space.

With the end of March, Q1 2025 is also coming to a conclusion. This quarter was not the best for the crypto market, with its excessive losses and extreme volatility, similar to how meme coins operate.

Discussing the bane of the meme coin market, Harrison Seletsky, the Director Of Business Development at Digital Identity Platform SPACE ID, talked about the role of a strong investor base.

“Hype can move the price of a memecoin up, but they also collapse just as fast if there is no interest to sustain them, which is usually the case. That’s why it’s so important to filter out the noise as much as possible,” Seletsky noted.

Thus, BeInCrypto has analyzed five meme coins that have stood the test of time and volatility and are preparing for further gains in April.

Fartcoin (FARTCOIN)

FARTCOIN has emerged as one of the top-performing meme coins this month, rising 107% to trade at $0.61. This impressive increase has allowed the meme coin to recover all the losses it faced in March and February.

To recover its January losses, FARTCOIN will need to continue its upward momentum. The key resistance level to watch is $0.69. A successful break above this level and a move toward $1.00 could signal the beginning of a sustained rally, potentially pushing the price higher in the coming days.

However, if FARTCOIN fails to hold $0.69 as support and misses the $1.00 target, it could face a sharp decline. A drop back to $0.37 would erase much of the recent gains, invalidating the bullish outlook. This pullback could shift investor sentiment towards caution, stalling further growth.

Cheems (CHEEMS)

CHEEMS has emerged as one of the top-performing meme coins this month, rising 130% since the beginning of March. Currently trading at $0.000001927, the altcoin has also posted a new all-time high (ATH) of $0.000002179.

The shift in broader market cues toward recovery has likely sparked newfound interest among CHEEMS investors. If the positive trend continues, the meme coin could push toward $0.000002500, further fueling its rally.

However, if the bullish signals begin to fade or if investors start selling their holdings, CHEEMS could face downward pressure. A fall toward the support level of $0.000001660 or lower would invalidate the bullish outlook. This potential decline could halt the altcoin’s growth and shift market sentiment.

Mubarak (MUBARAK)

MUBARAK launched this month and has already experienced notable volatility. The meme coin is up 95% since its launch, with the current all-time high (ATH) at $0.221. This strong early performance reflects investor optimism and a positive market reception for altcoin’s entry into the crypto space.

Currently trading at $0.145, MUBARAK is aiming to break through the resistance levels at $0.149 and $0.173. Successfully clearing these levels would likely lead to a new ATH beyond $0.221. Such a breakthrough would demonstrate continued bullish momentum and attract more investors to the altcoin.

However, if MUBARAK fails to capture sufficient investor attention, the price could dip to $0.130. A further decline could push the altcoin down to $0.118 or $0.105, invalidating the bullish outlook. Such a drop would signal weakening market sentiment and potential setbacks for MUBARAK’s growth.

Dogecoin (DOGE)

Dogecoin has not registered exceptional gains this month but managed to break out of a two-month downtrend. The altcoin rose 22% in a week, trading at $0.203. This recent upward movement signals a potential shift in market sentiment, suggesting that Dogecoin could see more positive momentum.

Given the current market conditions, Dogecoin is likely to continue its gradual uptrend. This momentum could help the altcoin breach the $0.220 resistance and move toward $0.267. If this upward trend continues, Dogecoin could see sustained growth and attract additional investor interest.

However, if Dogecoin fails to breach the $0.220 level, the price may struggle to maintain its upward movement. A failure to hold above this level could lead to a drop toward $0.176 or even $0.147, invalidating the bullish outlook and potentially extending the losses experienced by the altcoin.

Peanut The Squirrel (PNUT)

PNUT has experienced a 17% loss this month but is closer to recovering its losses. Currently trading at $0.221, the meme coin is beginning to show signs of recovery. The altcoin’s recent price movement signals that it may be positioned for potential growth if market conditions improve.

The primary target for PNUT is to breach the $0.260 resistance and flip it into a support level. If successful, this would pave the way for the meme coin to reach the next key resistance at $0.330. A move above $0.260 would signal further bullish momentum for PNUT.

However, if PNUT fails to breach $0.260 and the price struggles to hold, it could fall back to $0.219. A further drop to $0.182 would invalidate the bullish outlook, erasing recent gains and potentially setting the stage for a prolonged downtrend.