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DOT Experiences 25% Price Drop in June Amid Bearish Pressure

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Polkadot faces bearish pressure as it struggles to maintain critical support levels, signaling potential further declines in its price action.

The goal of the analysis is to assess Polkadot’s bearish selling pressure, using Key Support and Resistance Levels, Market Sentiment, and Future Price Movements.

Polkadot Faces Bearish Pressure: Key Levels and Market Sentiment Analysis

Polkadot (DOT) has been experiencing a bearish trend, evident from the recent price action where it fell below critical support levels. The rejection from the Ichimoku Cloud and testing of lower support levels further emphasize this downtrend.

Following Bitcoin’s price drop to $64,700 yesterday, the price of DOT reached the important support level of $5.46. Subsequently, the price of DOT bounced upward, stabilizing around $5.80, as observed in the 4-hour chart.

DOT’s price has dropped 25% from its local high recorded on June 7

Read More: 5 Best Polkadot (DOT) Wallets To Consider In 2024

Polkadot Price Analysis (4H & 1D). Source: TradingView
Polkadot Price Analysis (4H & 1D). Source: TradingView

Currently, Polkadot faces several key support and resistance levels. Following our insights shared on BeInCrypto analysis, the DOT price managed to break below the $6.23 price level yesterday. This prompted the price to drop 12% in 2 days, underscoring and highlighting the importance of monitoring this price level. This price level should now act as a resistance level for DOT.

The Ichimoku Cloud analysis shows that the price action is clearly rejected from the cloud, indicating bearish sentiment. On the daily chart, the price is currently below the Ichimoku Cloud, suggesting strong bearish momentum. The baseline and conversion lines are trending downwards, which confirms the bearish outlook.

Similarly, on the 4-hour chart, the price is below the cloud, reinforcing the short-term bearish sentiment.

A breakdown below the current support at $5.46 could lead to further declines towards the next major support at $4.88. On the upside, the first major resistance to watch is $6.81. Reclaiming this level could indicate a potential reversal of the current downtrend.

To confirm a bullish reversal, higher resistance levels at $7.12 and $7.41 will also need to be broken through.

The moving averages also support the bearish outlook. The price is trading well below the 200 EMA, indicating a long-term bearish trend, and the 100 EMA is also above the current price, acting as a resistance level.

The Relative Strength Index (RSI) is trending towards the oversold territory, currently hovering around 30. This indicates increasing selling pressure. If the RSI drops below 30, it could signal potential further declines. Conversely, if it bounces off this level, it could indicate a short-term relief rally.

OI-Weighted Funding Rate Reflects Cautious Market Sentiment

Open Interest (OI) is the total number of outstanding derivative contracts, such as futures or options, yet to be settled. Higher OI indicates increased market participation and speculative activity, while lower OI suggests reduced trader engagement.

The funding rate is the periodic payment between traders holding long and short positions in perpetual futures contracts. Positive rates mean long positions pay shorts, indicating bullish sentiment, while negative rates mean shorts pay longs, indicating bearish sentiment.

The OI-weighted funding rate combines the funding rate with open interest, offering a detailed view of market sentiment. It shows whether sentiment is driven by many participants or just a few, helping to gauge the strength of market trends.

During June, the funding rate remained relatively stable and positive, indicating a bullish sentiment among traders. This period coincided with DOT’s price stability around the $7 mark. However, the market sentiment shifted around June 8 when the funding rate briefly turned negative, suggesting increased short positions or a reduction in long positions.

From June 9 to June 15, the funding rate returned to positive territory, though with some fluctuations, reflecting a mixed but generally bullish sentiment. Notably, during this time, DOT’s price faced resistance around $7, experiencing multiple rejections. This suggests that while traders were willing to maintain long positions, the price struggled to break through this key resistance level, indicating potential exhaustion among buyers.

Read More: Polkadot (DOT) Price Prediction 2024/2025/2030

The most significant change occurred between June 16 and June 17, when both the funding rate and DOT’s price experienced sharp declines. The funding rate turning negative again reflects a bearish pressure, aligning with Polkadot dropping from around $6.50 to approximately $5.4. This period of heightened volatility and increased trading volume suggests panic selling or intensified shorting, reinforcing the bearish outlook.

DOT OI-Weighted Funding Rate. Source: CoinGlass
DOT OI-Weighted Funding Rate. Source: CoinGlass

Overall, the analysis of the OI-weighted funding rate indicates that traders are becoming more cautious, anticipating further declines. The reduced speculative activity, as evidenced by the decreasing funding rate, points to a market sentiment that is hesitant to take long positions at current levels.

Monitoring this indicator alongside key support and resistance levels can provide crucial insights for future price movements and market sentiment.

Strategic Recommendations

If Polkadot’s price continues to fall below the $5.45 level, it could trigger a significant cascade of liquidations and bearish selling pressure, potentially driving the price down to $4.88. The fact that Bitcoin remains above the $65,000 level suggests it is experiencing only a minor correction.

However, if Bitcoin’s price continues to decline and reaches $60,000, this could be very bearish for Polkadot and incentivize further price drops below $4.88.

A reversion back to $67,000 for Bitcoin could positively impact Polkadot, potentially driving its price back up to $6.23. If this level is broken, it could signal a possible reversal, allowing for further upward movement.

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 ConditionsPrivacy Policy, and Disclaimers have been updated.



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Report Alleges Massive Meme Coin Sniping on Pump.fun

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According to a new report from Pine Analytics, token deployers on Pump.fun systematically funded sniper wallets to buy their own meme coins. This impacted over 15,000 token launches on the platform.

These sniper wallets operated primarily during US trading hours, executing standardized, profitable strategies. Unrelated bot activity obscures their behavior, making it extremely difficult to isolate these wallets—and they can readily adapt to new countermeasures.

Snipers Roam Free on Pump.fun Meme Coins

Pump.fun has remained one of the most popular meme coin launchpads on Solana despite persistent controversies and other criticism.

However, Pine Analytics’ new report has uncovered a new controversy, discovering systematic market manipulation on the platform. These snipes include as much as 1.75% of all launch activity on Pump.fun.

“Our analysis reveals that this tactic is not rare or fringe — over the past month alone, more than 15,000 SOL in realized profit was extracted through this method, across 15,000+ launches involving 4,600+ sniper wallets and 10,400+ deployers. These wallets demonstrate unusually high success rates (87% of snipes were profitable), clean exits, and structured operational patterns,” it claimed.

Solana meme coin deployers on Pump.fun follow a consistent pattern. They fund one or more sniper wallets and grant them advance notice of upcoming token launches.

Those wallets purchase tokens in the very first block and then liquidate almost immediately—85% within five minutes and 90% in just one or two swap events.

pump.fun snipers
Figure: Pump.Fun Sniper Wallet Profits. Source: X/Pine Analytics

Pump.fun meme coin developers exploit this tactic to create the appearance of immediate demand for their tokens. Retail investors, unaware of the prior sell‑off, often purchase these tokens after the snipe, giving developers an unfair advantage. This constitutes market manipulation and erodes trust in the platform.

Pine Analytics had to carefully calibrate its methods to identify genuine snipers. Apparently, 50% of meme coin launches on Pump.fun involve sniping, but most of this is probably bots using the “spray and pray” method.

However, by filtering out snipers with no direct links to developer wallets, the firm missed projects that covered their tracks through proxies and burners.

In other words, the meme coin community does not have adequate defenses against systematic abuse on Pump.fun. There are a few possible ways that the platform could flag repeat offenders and sketchy projects, but adaptive countermeasures could defeat them. This problem demands persistent and proactive action.

Unfortunately, it may be difficult to enact such policies. Meme coin sniping is so systematic that Pump.fun could only fight it with real commitment.

Analysts think that building an on-chain culture that rewards transparency over extraction is the best long-term solution. A shift like that would be truly seismic, and the meme coin sector might not survive it.

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 ConditionsPrivacy Policy, and Disclaimers have been updated.



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Solana Leads Blockchain Metrics as SOL Momentum Builds

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Solana (SOL) continues to show strength across multiple fronts, maintaining a bullish structure on its Ichimoku Cloud chart while gaining momentum in key market metrics. The BBTrend indicator has turned higher again, signaling renewed buying pressure after a brief cooldown.

On-chain activity remains strong, with Solana leading all blockchains in DEX volume and dominating fee generation thanks to the explosive growth of meme coins and launchpad activity. With SOL now trading above a key resistance level, the path is open for further upside—though a loss of momentum could still trigger a retest of lower supports.

Solana Maintains Bullish Structure, but Momentum Faces Key Test

On Solana’s Ichimoku Cloud chart, the price is currently above the Kijun-sen (red base line) but has dipped below the Tenkan-sen (blue conversion line), signaling weakening short-term momentum.

The flattening Tenkan-sen and price behavior suggest possible consolidation or the early stages of a pullback. Still, with the price holding above the Kijun-sen, medium-term support remains intact.

SOL Ichimoku Cloud. Source: TradingView.

The overall Ichimoku structure remains bullish, with a thick, rising cloud and leading span A well above span B—indicating strong underlying support.

If Solana finds support at the Kijun-sen and climbs back above the Tenkan-sen, the uptrend could regain strength; otherwise, a test of the cloud’s upper boundary may follow.

SOL BBTrend.
SOL BBTrend. Source: TradingView.

Meanwhile, Solana’s BBTrend is currently at 6, extending nearly ten days in positive territory after peaking at 17.5 on April 14. The recent increase from 4.26 to 6 suggests renewed bullish momentum following a brief cooldown.

BBTrend, or Bollinger Band Trend, tracks the strength of price movement based on Bollinger Band expansion.

Positive values like the current one point to an active uptrend, and if the BBTrend continues to rise, it could signal stronger momentum and potential for another upward move.

Solana Dominates DEX Volume and Fee Generation as Meme Coins Drive Ecosystem Growth

Solana has once again claimed the top spot among all chains in DEX volume, recording $15.15 billion over the past seven days. The combined total of Ethereum, BNB, Base, and Arbitrum reached $22.7 billion.

DEX Volume by Chain.
DEX Volume by Chain. Source: DeFiLlama.

In the last 24 hours alone, Solana saw $1.67 billion in volume, largely fueled by its booming meme coin ecosystem and the ongoing launchpad battle between PumpFun and Raydium. Adding to this good momentum, Solana recently surpassed Ethereum in Staking Market Cap.

Protocols and Chains Fees.
Protocols and Chains Fees. Source: DeFiLlama.

When it comes to application fees, Solana’s momentum is just as clear. Four of the top ten fee-generating apps over the past week—PumpFun, Jupiter, Jito, and Meteora—are Solana-focused.

Pump leads the pack with nearly $18 million in fees alone.

Solana Breaks Key Resistance as Uptrend Targets Higher Levels, but Risks Remain

Solana has finally broken above its key resistance at $136, flipping it into a new support level that was successfully tested just yesterday.

Its EMA lines remain aligned in a bullish setup, suggesting the uptrend is still intact.

If this momentum continues, SOL price could aim for the next resistance zones at $147 and $152—levels that, if breached, open the door to a potential move toward $179.

SOL Price Analysis.
SOL Price Analysis. Source: TradingView.

The current structure favors buyers, with higher lows and strong support reinforcing the trend.

However, if momentum fades, a retest of the $136 support is likely.

A breakdown below that level could shift sentiment, exposing Solana to deeper pullbacks toward $124 and even $112.

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 ConditionsPrivacy Policy, and Disclaimers have been updated.



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Crypto Firms Donated $85 million in Trump’s Inauguration

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According to a new report, 15 firms and individuals from the crypto industry donated more than $100,000 to President Trump’s Inauguration, totaling over $85 million.

Almost all of these companies apparently received direct or indirect benefits from Trump’s administration. This includes dropped legal proceedings, lucrative business partnerships, participation in Trump’s Crypto Summit, and more.

Crypto Industry Went All-In on Trump’s Inauguration

Since promising to bring friendlier regulations on the campaign trail, Donald Trump attracted a reputation as the Crypto President.

Trump’s Inauguration festivities included a “Crypto Ball,” and several prominent firms made donations for these events. Today, a report has compiled all crypto-related contributions of over $100,000, revealing some interesting facts.

Crypto Donations For Trump's Inauguration
Crypto Donations For Trump’s Inauguration. Source: Fortune

Since taking office, President Trump and his family have been allegedly involved in prominent crypto controversies, and these donations may be linked to several of them.

For example, eight of the donors, Coinbase, Crypto.com, Uniswap, Yuga Labs, Kraken, Ripple, Robinhood, and Consensys, had SEC investigations or lawsuits against them closed since Trump’s term began.

The commission might have dropped its probe against these companies anyway due to its changing stance on crypto enforcement. However, being in the President’s good books likely helped the process.

Further Alleged Benefits for Donors

In other words, nearly half the firms that made donations to Trump’s Inauguration have seen their legal problems cleared up quickly. This isn’t the only regulation-related benefit they allegedly received.

Circle, for example, recently made an IPO after openly stating that Trump’s Presidency made it possible. Galaxy Digital received SEC approval for a major reorganization, a key step for a NASDAQ listing.

Other donors, such as Crypto.com and ONDO, got more direct financial partnerships with businesses associated with the Trump family.

Previously, Ripple’s CEO, Brad Garlinghouse, anticipated a crypto bull market under Trump. Also, XRP, Solana, and Cardano were all unexpectedly included in the US Crypto Reserve announcement.

All three of these companies made major donations to Trump’s Inauguration.

It seems that most of the firms involved got at least some sort of noticeable benefit from these donations. Donors like Multicoin and Paradigm received invitations to Trump’s Crypto Summit, while much more prominent groups like the Ethereum Foundation got snubbed.

Meanwhile, various industry KOLs and community members have already alleged major corruption in Trump’s crypto connections.

While some allegations might lack substantial proof, the crypto space has changed dramatically under the new administration, for both good and bad.

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 ConditionsPrivacy Policy, and Disclaimers have been updated.



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