Altcoins

Helium: Development Proposals Ignite 15% HNT Price Rally

Published

3 months ago

August 27, 2024

Helium (HNT) is continuing its upward trajectory despite the market dip. According to CoinGecko, the token is up nearly 15% since yesterday, sparked by the recent on-chain developments that will expand on Helium’s decentralized physical infrastructure (DePIN).

Recently, Helium’s official X account announced the voting period for two crucial proposals for Helium Mobile. Aptly named HIP 130 and 131, these two proposals have sparked speculation for HNT’s near-future performance.

Helium Proposes New Security Measure Against Malicious Activity

HIP 130, titled ‘Data-Only Hotspots’, proposes that the network should expand its reach by using any hotspot that uses passpoint authentication. These devices may come from non-certified Helium Hotspot vendors.

These new hotspots will act almost exactly as their Helium-made counterparts, except that they will be used to pass already paid-for data. Users of this new type of hotspot will be rewarded with MOBILE, one of the tokens inside the Helium ecosystem.

HNT is currently trading at $6.72. Chart: TradingView

In addition to this, HIP 131, named ‘Bridging the Gap Between Verification Mappers and Anti-Gaming Measures’, will implement a new system to protect the reward system of the network. The proposal is an “extension” of HIP 125 (Temporary Anti-Gaming Measures for Boosted Hexes) and amends the latter to better protect the network.

The new system works by limiting the Oracle Hex boosts in points of interests (PoIs), reducing the rewards multiplier if a hotspot engages in malicious activity. To regain the boost, that hotspot only needs to submit 1 accurate Call Detail Records (CDR).

As of writing, both proposals are still under voting with only 11 hours left for the community to engage on.

HNT To Stabilize Between $6.8 And $7.5

As of writing, the token is trading well between $6.8 and $7.5 with the momentum on the side of the bulls. The current trajectory is eyeing gains well above $8 in the long run. This significant increase in price is accompanied by a proportional increase in HNT’s momentum. However, there might be barriers for the budding rally.

HNT’s position, although great in itself, is barred by the dip in the market that further hinders any increase in momentum. Helium can move by itself– only by a short while. How short this timeframe may be is up to speculation as it can dip next week or next month.

For now, investors and traders could buy in a small position in HNT while monitoring the broader market sentiment which today, unfortunately, is bearish. Once the situation improves, we will see a rally, breaking through $8 or potentially $10 in the long-term. Until then, caution is the name of the game to protect long-term gains.

Featured image from Fortune, chart from TradingView

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Altcoins

Analyst Says Dogecoin Has Way More Room To Grow, Sees Potential Rally to New All-Time High for DOGE

Published

2 days ago

November 20, 2024

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A closely followed crypto strategist believes that top memecoin Dogecoin (DOGE) may be gearing up for an explosive surge.

Analyst Ali Martinez tells his 80,000 followers on the social media platform X that DOGE has more upside potential based on the level of public interest relative to its current price level.

He uses Google search trends to gauge the level of interest for the top memecoin by market cap.

“I read people saying Dogecoin will not go higher because of ‘market cap,’ ‘sell the news,’ ‘better memes.’ Well, when you look at the interest in DOGE over time, it isn’t even at peak popularity yet. Long story short, DOGE has way more room to grow.”

He also says that DOGE may be forming a bull flag pattern on the hourly timeframe and may soon surge past its all-time high of about $0.74. In technical analysis, a bull flag is viewed as a continuation pattern, indicating that an asset is consolidating and gearing up for a fresh rally.

“Dogecoin appears to form a bull flag! I’m looking out for an hourly close above $0.40 which could trigger a breakout to $0.85!”

DOGE is trading for $0.3742 at time of writing, up 3.6% in the last 24 hours but down about 49% from its all-time high of $0.731.

Lastly, the analyst says that Bitcoin (BTC) may override a bearish signal from the TD Sequential indicator and hit six figures.

Traders use the TD Sequential indicator to predict potential trend reversals for tokens based on the closing prices of their previous nine or 13 bars or candles.

“Finally, I believe a sustained daily close above $91,900 will invalidate this bearish Bitcoin outlook and trigger a breakout to $100,680!”

Bitcoin is trading for $90,885 at time of writing, up 1.6% in the last 24 hours.

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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

Top Trader Unveils Path to New All-Time High for Dogecoin, Says DOGE Will Remind Everyone Who Is the King

Published

3 days ago

November 19, 2024

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A trader who continues to grow his following with timely crypto calls is outlining a potential price path for Dogecoin’s (DOGE) rally to fresh all-time highs.

Pseudonymous analyst Bluntz tells his 292,900 followers on the social media platform X that Dogecoin looks poised for a new wave of upside bursts after printing a local bottom at around $0.339.

The trader shares a chart suggesting that DOGE could explode to a new all-time high of $0.85 before ending its five-wave surge.

“Nothing changed, we just had a nice 23% low time frame dip I’m counting as a wave four within a monster extended wave three impulse.

Once the next DOGE leg-up start, it will probably start to suck liquidity out of smaller memes again. The only reason they went so hard this week was because DOGE has been chilling for five days in my opinion.

I think this week will be a DOGE week.”

Bluntz practices the Elliott Wave theory, a technical analysis approach attempting to predict future price action by following crowd psychology that tends to manifest in waves. According to Elliott Wave principles, a bullish asset often witnesses a five-wave rally, where waves one, three and five are upside moves and waves two and four are corrective periods.

At time of writing, DOGE is trading at $0.372, down 49% from its all-time high of $0.731.

Zooming in, Bluntz shares his forecast for DOGE in the coming days.

“Ideal scenario for DOGE is a slow grind up over the next few days which could set the stage for another parabolic breakout later in the week similar to the last…

I think DOGE is gonna gently remind everyone who the king is this week.”

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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

‘Time Has Come’ – Top Trader Predicts More Rallies for Dogecoin, Updates Forecast for Bitcoin and PEPE

Published

4 days ago

November 18, 2024

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An analyst who has earned the “Master Trader” rank on the crypto exchange Bybit believes top memecoin Dogecoin (DOGE) is primed for more rallies.

Pseudonymous analyst Bluntz tells his 291,000 followers on the social media platform X that Dogecoin appears to have completed an ABC corrective wave against Bitcoin (DOGE/BTC).

The trader practices Elliott Wave theory, which states that a bullish asset tends to witness a five-wave upside move after an “ABC” correction.

Says Bluntz,

“DOGE/BTC looking sendy again, swept the A wave lows and looks like a clear ABC down move now done.

I have been waiting for this one to cool off to start bull posting again and I think the time has come.”

Looking at the trader’s chart he seems to predict that DOGE/BTC will soar to as high as 0.000008 BTC ($0.73). At time of writing, DOGE is trading at $0.365.

Turning to Bitcoin itself, the analyst believes that BTC has started a fresh five-wave surge in the lower time frame, targeting $100,000.

“So far so good.”

At time of writing, Bitcoin is trading for $90,227.

As for the memecoin Pepe (PEPE), Bluntz says that the altcoin is likely en route to $0.00003.

“Don’t fade the magic PEPE squiggles.”

At time of writing, PEPE is worth $0.0000214.

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