Altcoins
Top Analyst Says Monster Breakout Underway for One Memecoin, Says Six Altcoins Are His Fastest Horse Picks
Published
4 hours agoon
By
adminAn analyst known for making timely altcoin calls thinks that a massive trend reversal is underway for an under-the-radar meme token.
Pseudonymous crypto strategist Bluntz tells his 283,700 followers on the social media platform X that Book of Meme (BOME) looks bullish after breaking out of its accumulation range in a big way.
“BOME daily looking like a MONSTER breakout now.
Surely I won’t cop heat for talking about a $700 million market cap coin.”
Based on the trader’s chart, he seems to predict that BOME will rally to $0.03, suggesting an over 220% increase from current levels.
At time of writing, BOME is worth $0.00932.
The trader also unveils his current portfolio, which is made up of memecoins.
“My bags change frequently based on whichever charts I think look the best at any given time (astrology for men).
Always looking for the fastest horses but also I try not to diversify too much. I go hard into a handful of picks, usually up to 10 or MAX
Currently, my Noah’s Ark bags are:
WIF
BOME
SILLY
SLERF
PENG
CAT.”
Another meme token on the trader’s radar is cat in a dog’s world (MEW). Bluntz says MEW looks strong after clearing its diagonal resistance on the daily chart.
“Huge daily downtrend breakout on MEW overnight.
Pretty significant in my opinion.”
At time of writing, MEW is trading at $0.0084.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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Altcoins
Trader Hints at Parabolic Rally to All-Time High for Solana Rival, Updates Outlook on PEPE and WIF
Published
2 days agoon
October 15, 2024By
adminA widely followed crypto strategist and trader believes that steep rallies are in store for one Solana (SOL) challenger.
Pseudonymous analyst The Crypto Dog tells his 829,200 followers on the social media platform X that layer-1 chain Sui (SUI) may be poised to witness huge bursts to the upside after printing a new all-time high (ATH).
With blue skies ahead for SUI, the trader thinks it is within the realm of possibility for the altcoin to go vertical.
“We gonna see a proper parabolic ATH break run?”
At time of writing, SUI is worth $2.32 slightly below its new all-time high recorded just hours ago.
Turning to the memecoin Pepe (PEPE), the trader thinks it is gearing up to take out its diagonal resistance and spark a new leg up.
“PEPE wants to start something.”
At time of writing, PEPE is trading at $0.00000962, still below the analyst’s diagonal resistance.
Looking at fellow memecoin dogwifhat (WIF), the trader thinks the altcoin needs to overcome one downward resistance line to ignite rallies to fresh all-time highs.
“ATH run?”
At time of writing, WIF is trading for $2.63, hovering close to the trader’s diagonal resistance.
As for Bitcoin, the trader says BTC is very close to witnessing a proper bull market.
“We break $63,500 it’s gonna be no items long only final destination.”
At time of writing, Bitcoin is worth $62,682.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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Altcoins
Ethereum-Based Virtual Reality Platform Decentraland Tops Santiment’s Rankings of NFT Projects by Development
Published
4 days agoon
October 13, 2024By
adminThe Ethereum (ETH)-based virtual reality platform Decentraland (MANA) clocked more notable development activity than any other non-fungible token (NFT) project in the past month, according to the crypto analytics firm Santiment.
Santiment notes on the social media platform X that Decentraland registered 168.17 notable GitHub events in the past 30 days.
Flow (FLOW), a layer-1 permissionless blockchain, ranked second with 119.57 events, and Metaplex (MPLX), a decentralized NFT platform built on Solana (SOL), placed in a distant third with 19.13.
Santiment notes that it does not count routine updates and utilizes a “better methodology” to collect data for GitHub events based on a “backtested process.”
The analytics firm has previously said that heavy development activity centered around a crypto project indicates developers believe in the protocol. Development activity also suggests that the project is less likely to be an exit scam.
MANA is trading at $0.294 at time of writing. The 135th-ranked crypto asset by market cap is up nearly 7% in the past 24 hours.
FLOW is currently trading at $0.539. The 94th-ranked crypto asset by market cap is up more than 5% in the past day.
MPX, the 175th-ranked crypto asset, is trading at $0.416 at time of writing and is down nearly 0.5% in the past 24 hours.
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The crypto market is in the red today after shedding 3.2% of its value. Nevertheless, the entire crypto space is still convinced October will be a green month for crypto assets. As October (Uptober) runs out, there are some altcoins to sell before election month kicks in and uncertainty hits its highest.
3 Altcoins to Sell in Uptober
October has historically been one of the best months for crypto over the past 12 years, and many anticipate a new all-time high for Bitcoin. However, the total crypto market cap, excluding Bitcoin, has fallen by 5.68% since the start of the month. While analysts consider this drop to be within the expected 10% range, the Bitcoin Fear and Greed Index has dropped from 49 yesterday to 33 today, indicating growing investor fear. Here are three altcoins to consider selling before October ends.
1. FTX Token (FTT)
FTT is the native token of the infamous FTX crypto exchange. While the token spiked by over 55% following the court approval of the FTX reorganization plan, it has also seen a sharp decline due to profit-taking, as evidenced by the long wicks.
FTT price is down 2.6% in the last 24 hours and is trading at $2.21. While the $16 billion compensation plan is good news for all of the crypto market, with selling pressure mounting, it could face a downturn in October.
2. MANTRA (OM)
OM is the main utility and governance token of the MANTRA DeFi protocol. The token recently hit a new all-time high due to the anticipation of its upcoming main net launch, topping out at $1.4746.
However, candlestick analysis shows weakness as the OM price reached a zone of resistance. The long upper wicks indicate buyer exhaustion, and the short consolidation period followed by a long black candle suggests sellers may be taking control.
Investors selling to make a profit could cause the price to drop as low as $0.85, a 34% drop from the current price. This makes OM one of the top altcoins to sell before October is over.
3. Stacks (STX)
The Stacks network is a layer-2 solution for Bitcoin that enables the deployment of smart contracts and decentralized applications (dApps) on the Bitcoin mainnet. STX is the native token of the platform and has had a nice 30% pump ahead of the Nakamoto network upgrade and the launch of a new Bitcoin-pegged stablecoin, sBTC.
While STX is expected to benefit from the Nakamoto hard fork, selling pressure could affect its price, as the chart shows the asset in a pattern with a measured move of 25% to the downside.
The STX price is $1.69, representing a 3% decrease in the last 24 hours. A 25% drop from the current price will set it around $1.28.
Conclusion
While October is indeed a green month on average, it is good to check tokens that may perform better than others and diversify into them. On the other hand, tokens like FTX (FTT), Stacks (STX), and MANTRA (OM) show signs of dropping between 25% and 40% in October (Uptober), meaning they are altcoins to sell.
Frequently Asked Questions (FAQs)
Although October is historically a strong month for the cryptocurrency market, not all altcoins benefit from this upward momentum.
Three altcoins showing signs of decline are, FTT, OM and STX.
While a short-term drop is anticipated, crypto markets can change rapidly. Depending on market sentiment, news, and developments, these tokens may regain value later, but timing your entry or exit is crucial.
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Evans Karanja
Evans Karanja is a crypto analyst and journalist with a deep focus on blockchain technology, cryptocurrency, and the video gaming industry. His extensive experience includes collaborating with various startups to deliver insightful and high-quality analyses that resonate with their target audiences. As an avid crypto trader and investor, Evans is passionate about the transformative potential of blockchain across diverse sectors. Outside of his professional pursuits, he enjoys playing video games and exploring scenic waterfalls.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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