Market
PENGU Price Crashes 26%, $1 Billion Market Cap in Jeopardy
![](https://coin2049.io/wp-content/uploads/2025/01/bic_PENGU_analysis_2-covers_bearish.jpg.optimal.jpg)
PENGU price has plunged nearly 26% in the last 24 hours, reaching its lowest levels ever. Once the biggest meme coin on Solana, it has now been overtaken by TRUMP, BONK, and DOGWIFHAT.
Technical indicators, including the Ichimoku Cloud and DMI, suggest that bearish momentum is still growing, increasing the risk of further declines. Unless a strong reversal occurs, PENGU could continue setting new lows in the short term.
PENGU Ichimoku Cloud Shows a Bearish Setup
The Ichimoku Cloud chart for PENGU shows a clear bearish trend. The price is trading below both the conversion line (blue) and the base line (red), indicating short-term and medium-term weakness.
The cloud (Kumo) is red and sloping downward, reinforcing the bearish sentiment. Additionally, the lagging span (green) is positioned below the price, confirming that bearish momentum has been dominant.
![PENGU Ichimoku Cloud.](https://beincrypto.com/wp-content/uploads/2025/01/PENGUUSDT_2025-01-28_12-54-57.png)
With the price consistently staying below the cloud, there are no immediate signs of a trend reversal. The widening gap between the conversion and base lines suggests increasing bearish momentum.
For a trend shift, the PENGU price would need to reclaim the conversion line and eventually move into or above the cloud. Still, for now, the Ichimoku indicators continue to show strong downside pressure.
PENGU DMI Signals Strengthening Downtrend
PENGU’s DMI chart shows that its ADX has risen to 20.16 from 14.6 in just one day, indicating that the strength of the current trend is increasing.
The ADX measures trend strength, with values below 20 suggesting weak or indecisive trends, while values above 25 indicate stronger trends. The recent increase suggests that PENGU current trend is gaining momentum, though it is not yet fully established.
![PENGU DMI.](https://beincrypto.com/wp-content/uploads/2025/01/Screenshot-2025-01-28-at-12.54.32.png)
Meanwhile, the +DI has dropped sharply from 31.4 to 15.49, signaling a decline in bullish pressure, while the -DI has surged from 16.8 to 37.42, showing strong selling dominance.
This shift confirms that PENGU price is in a downtrend, with bearish momentum increasing. With the ADX strengthening, the downtrend could persist unless buying pressure returns to counter the selling dominance.
PENGU Price Prediction: Will It Continue Testing New Lows?
PENGU, which has a market cap of $1.08 billion, is currently trading at its lowest levels ever, falling below $0.018 for the first time. Once the largest meme coin on Solana, it was surpassed by TRUMP, BONK, and DOGWIFHAT.
![PENGU Price Analysis.](https://beincrypto.com/wp-content/uploads/2025/01/PENGUUSDT_2025-01-28_12-54-11.png)
Given the bearish signals from both the Ichimoku Cloud and DMI indicators, the likelihood of PENGU dropping below $0.017 appears high. The price remains well below the cloud, while the ADX has risen, confirming that the downtrend is strengthening. The -DI dominance further supports continued downside pressure.
However, if momentum shifts and PENGU price can reclaim key levels, a trend reversal could lead to a test of the resistance at $0.022, with further upside potential if buying pressure strengthens.
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
Argentina’s President Milei Denies Ties to LIBRA Meme Coin
![](https://coin2049.io/wp-content/uploads/2024/06/bic_Javier_Milei_3-covers_neutral.jpg.optimal.jpg)
Argentina’s President Javier Milei has distanced himself from the LIBRA meme coin after promoting it in a now-deleted tweet.
His clarification follows accusations that the project’s developers drained approximately $107 million in what appears to be a pump-and-dump scheme.
LIBRA Meme Coin Controversy
On February 14, Milei’s X account endorsed LIBRA, a Solana-based meme coin, which triggered a surge in trading activity. The token’s market cap briefly hit $4.5 billion as investors rushed in.
The project claimed its goal was to support Argentina’s economy by funding small businesses and local ventures. Julian Peh, co-founder of KIP Protocol, confirmed the platform’s involvement, stating that its role was to manage fund distribution rather than oversee the token itself.
“Our primary role is to help run the fund allocation to the Argentinian companies, and less on the token side. We are not the [Market maker]…We will put together the plan to run the Project Libertad as per the original objective. We would not have gotten the help we did to launch it if we were not serious. Not a single SOL will be used outside of the purpose of running Project Viva La Libertad,” Peh said.
However, doubts quickly emerged regarding the legitimacy of the launch. Crypto analyst Conor Grogan pointed out that the wallet deploying LIBRA had received funds from an exchange that does not require Know Your Customer (KYC) verification.
As concerns mounted, Milei addressed the issue, stating that he had initially shared the project to support a private initiative, something he does regularly.
Upon further review, he retracted his endorsement and deleted the post. Following his statement, LIBRA’s price plummeted by around 90%.
“I was not aware of the details of the project and after having become aware of it I decided not to continue spreading the word (that is why I deleted the tweet). To the filthy rats of the political caste who want to take advantage of this situation to do harm, I want to say that every day they confirm how vile politicians are, and they increase our conviction to kick them in the ass,” Milei said.
Meanwhile, blockchain analysis from Lookonchain revealed that insiders had withdrawn approximately $107 million. Eight wallets linked to the project moved $57.6 million in USDC and 249,671 SOL, worth nearly $50 million. Analysts suggested these withdrawals were tied to liquidity manipulation and accumulated fees.
![LIBRA Meme Coin Insiders Profit.](https://beincrypto.com/wp-content/uploads/2025/02/image-147.png)
Additionally, crypto analyst EmberCN reported that insiders made at least $20.18 million by front-running the promotional tweet, buying seconds after it was posted, and selling after the price spike.
Political Meme Coins and Industry Reactions
The LIBRA fallout highlights concerns surrounding politically affiliated meme coins. Similar speculation surrounded the launch of the TRUMP token in January and the Central African Republic’s CAR meme coin.
In both cases, traders rushed to buy in before questioning their legitimacy. While those tokens turned out to be authentic, LIBRA’s rapid collapse has raised alarms within the crypto community.
Industry figures have condemned the situation. Sonic Labs co-founder Andre Cronje criticized the trend, suggesting that meme coin traders do not engage with decentralized finance or blockchain technology.
“[Meme coin traders are] a demographic that doesnt care about decentralized finance or even blockchains. So memes arent stealing any attention, since the participants werent our participants in the first place,” Cronje stated.
On the other hand, SlowMist founder Yu Xian called for accountability, stating that those responsible should face legal consequences.
“Support everyone in defending your rights; the instigator must be punished by law, and hopefully, they will also face the President’s wrath,” Xian added.
The LIBRA controversy reflects the risks of speculative meme coins, particularly when linked to political figures. The incident has further fueled discussions about regulatory oversight and investor protection in the crypto 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.
Market
XRP Price Jumps 10% as Golden Cross Hints at More Gains
![](https://coin2049.io/wp-content/uploads/2025/02/bic_xrp_blockchain.jpg.optimal.jpg)
XRP price has surged 10% in the last 24 hours, with its trading volume skyrocketing nearly 50% to $8 billion. This strong momentum has pushed XRP’s Relative Strength Index (RSI) back into overbought territory for the first time in almost a month. That surge happened after the SEC accepted its ETF filling, although this doesn’t mean it was approved yet.
Meanwhile, whale activity remains stagnant, with the number of large holders showing only slight movement after a recent surge and decline. As XRP hovers near key resistance levels, traders are watching closely to see whether this rally has the strength to continue or if a correction is on the horizon.
XRP RSI Is Back to Overbought After Almost a Month
XRP’s Relative Strength Index (RSI) has surged to 72.2, climbing from 50 just a day ago.
This sharp increase highlights strong bullish momentum in XRP price action. For the first time in nearly a month, traders have pushed the asset into overbought territory.
Such a rapid rise in RSI suggests intensified XRP buying pressure, signaling that demand has significantly outpaced supply in the short term.
![XRP RSI.](https://beincrypto.com/wp-content/uploads/2025/02/Screenshot-2025-02-14-at-09.12.03.png)
The RSI is a momentum indicator that measures the speed and magnitude of price movements on a scale from 0 to 100.
Typically, an RSI above 70 suggests an asset is overbought and may be due for a pullback, while an RSI below 30 indicates oversold conditions, potentially leading to a rebound.
With XRP now in overbought territory, the likelihood of a short-term correction increases as traders might start securing profits. However, if buying pressure persists and RSI remains elevated, it could indicate the start of a stronger bullish trend, pushing XRP to higher resistance levels.
XRP Whale Activity Is Stagnant
The number of XRP whales – wallets holding between 1 million and 10 million XRP – jumped from 2,081 to 2,136 between February 1 and February 2, signaling strong accumulation.
However, this surge was short-lived, as the count began to decline, reaching 2,118 by February 9. Such movements suggest that while some large holders were accumulating, others may have started taking profits or redistributing their holdings.
![Addresses holding between 1 million and 10 million XRP.](https://beincrypto.com/wp-content/uploads/2025/02/XRP-Ledger-XRP-09.12.41-14-Feb-2025.png)
Tracking whale activity is important because these large holders can significantly impact price action. After the recent decline, the number of whales has started rising again, but at a slow pace, currently at 2,127.
This suggests some renewed accumulation, but the near-stable trend in recent days indicates hesitation. Without stronger buying activity, XRP may remain in consolidation rather than gaining upward momentum.
XRP Price Prediction: Will XRP Recover $3 Levels In February?
XRP price has surged over 10% in the last 24 hours, showing strong bullish momentum. Its EMA lines suggest that golden crosses could form soon, which often signal further upside.
If the uptrend continues, XRP could test a key resistance at $2.96, and if broken, it may push toward $3.15. A strong breakout could even drive XRP to $3.36, representing a potential 24.5% gain. That could be driven by the approval of XRP ETF by the SEC, which could happen soon.
![XRP Price Analysis.](https://beincrypto.com/wp-content/uploads/2025/02/XRPUSDT_2025-02-14_09-11-05.png)
However, if the uptrend loses momentum, XRP price could face a pullback, testing support at $2.54.
A break below this level might lead to further downside toward $2.26, and if selling pressure intensifies, XRP could drop as low as $1.77.
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
Kaito Token Launch Aims to Monetize Good Social Media Content
![](https://coin2049.io/wp-content/uploads/2025/02/bic_Airdrop_3-covers_neutral.jpg.optimal.jpg)
Kaito just released its whitepaper, announcing a new KAITO token with an accompanying airdrop. Kaito intends to use AI tools to monetarily reward novel and insightful social media posts.
In other words, it’s set a monumental challenge for itself. The community is excited to see if Kaito is up for the challenge, but some users are already planning to game the system.
Kaito Will Launch a Token Soon
Kaito, an AI-focused Web3 information platform, has been generating a lot of buzz lately. Its data and analysis have been useful in identifying crypto trends. It highlighted, for example, that RWA and DeFi projects are taking momentum from meme coins. Today, it released its long-awaited whitepaper, unveiling a KAITO token, which will be airdropped soon.
“Entering into the new era of attention and InfoFi, KAITO will be your key to the distribution center of information, attention and capital. Attention is a core part of today’s economy. Our view is that AI-powered InfoFi is the endgame for information efficiency, and we couldn’t be more excited for this next chapter,” the firm claimed on social media.
Kaito’s whitepaper explains all the token dynamics in its new system. Essentially, it set an extremely ambitious goal: using artificial intelligence to quantify the value of social media posts and tokenize them. Kaito’s AI will assess user posts for output, engagement, insight, and more, and users will earn yaps. These yaps will determine future airdrops, but the full tokenomics aren’t out yet.
![Social Media Users Ranked by Yaps Kaito](https://beincrypto.com/wp-content/uploads/2025/02/image-145.png)
Kaito’s token airdrop has generated a lot of positive buzz, with some calling it “the most significant social token distribution we’ve ever seen in crypto.” The firm’s own data has suggested that AI protocols are losing influence, but its own airdrop may be an exception. The crypto community has long searched for a way to revolutionize social media, and Kaito has entered the game.
However, there are many challenges. Kaito isn’t the only tech company trying to increase content quality in the Era of AI; the world’s biggest tech companies also want to increase the quality of posted content. Kaito wants to use token rewards to incentivize thoughtful and well-connected discussions, but the whitepaper doesn’t clearly explain how it would accomplish this.
Meanwhile, social media is already crawling with users giving their best advice on optimizing KAITO token rewards. Some of these posts apparently have good intentions, but other large accounts have already been cynical:
“When KAITO launches, just know: if you never earned a yap, you’ll feel like your account was useless. So tweet, X, Yap, replyguy, do whatever it takes to earn yaps. Make tweets that make them reply to you. Make content that makes smart followers comment on it. Go to the leaderboard, follow top emerging yappers,” one user told his followers.
In other words, the plan to monetize good content may only encourage further bad actors. Kaito’s AI faces a very difficult challenge: how can it objectively assess novelty and insight and reward tokens based on that assessment? The protocol’s success will hinge on its ability to deliver here. Whatever might happen, however, the whole community is watching.
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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