2021-10-19 04:34:00

These Dogecoin And Shiba Inu Knock-Offs Are Striking Major Gains Today, With One ‘Rabbit’ Coin Up 483% – Dogecoin – United States Dollar ($DOGE)

Some of the Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) knockoffs such as Baby Floki (CRYPTO: BSC), Doge Dash (CRYPTO: DOGEDASH), Baby Saitama Inu (CRYPTO: BABAYSAITAMA) and Dogelon Mars (CRYPTO: ELON) are seeing strong gains as of Monday night.

Meanwhile, MoonRabbit (CRYPTO: MOONRABBIT), a bunny-themed coin, is the top gainer among cryptocurrencies during the last 24 hours, as per CoinMarketCap data.

What Happened: MoonRabbit is up 483.16% during the past 24 hours, trading at $0.000000000017 at press time.

The token has surged 488.68% against apex cryptocurrency Bitcoin and gained 498.73% against Ethereum.

Among the other knockoff coins, Baby Floki has gained 147.5% during the past 24 hours to $0.000000006614, while Doge Dash is up 81.45% during the 24-hour period to $0.0001745.

Baby Saitama Inu has surged 79.68% over 24 hours to $0.000000000445, while Dogelon Mars gained 69.39% during the 24-hour period to $0.0000004854.

For comparison, Dogecoin is up 2.9% during the past 24 hours, trading at $0.2463 at press time. Shiba Inu has gained 3.6% over the 24-hour period to $0.0000285.

See Also: How To Buy Dogecoin (DOGE)

Why It Matters: MoonRabbit’s strong gains come after Tesla Inc. (NASDAQ:TSLA) Elon Musk sent out a tweet with a bunny-like figure holding a rocket. The tweet also resulted in other bunny-themed coins soaring across the board.

MoonRabbit says on its website that it implements passive staking mechanisms that enable a user who holds the token to start earning passive dividends. It also has a built-in liquidity function that creates and adds liquidity slowly.

Baby Floki is a deflationary token named after Musk’s new Shiba Inu pup Floki. The token announced Monday on Twitter that it has launched its next non fungible token collection called “Pixel Puppies.”

Doge Dash says on its website that it aims to make cryptocurrency gaming easy. The project behind the token also said on Twitter that it plans to launch its NFT collection soon.

Baby Saitama Inu is a deflationary ERC-20 token based on the Ethereum Blockchain.

Dogelon Mars is a cryptocurrency based on Ethereum’s blockchain using the ERC-20 token standard. According to the token’s website, Dogelon is a fork of Dogecoin

Read Next: Dogecoin Leads Major-Crypto Pack, Bitcoin Faces Profit-Taking Test And Ethereum Sits On The Sideline


2021-10-19 18:31:28

Dogecoin needs to do this to unlock its full potential

Dogecoin’s bullish trajectory since mid-October has been a welcoming change following tepid movement in September. DOGE’s value has risen by nearly 30% since last week and the alt is currently challenging a crucial resistance zone in order to unlock its full potential.

However, keep in mind that DOGE’s price progression needs to be backed by consistent volumes otherwise some near tailwinds can begin to creep into the market. At the time of writing, DOGE traded at $0.247, down by 3.5% over the last 24 hours.

Dogecoin 4-hour Chart

Source: DOGE/USD, TradingView

Dogecoin looked to break past the confluence of its 200-SMA (green), $0.273-resistance and an upper sloping trendline to revisit levels seen during August’s bull run to $0.3495. Now this could turn out to be tricky as bulls would need to gather strong numbers up till $0.354 in order to overcome some near-term barriers at $0.301 and $0.320.

If bulls falter at the aforementioned resistance zone (white), $0.230 support could be called into action, with $0.1945 serving as a deeper defensive resource. On the other hand, a move above with conviction $0.355 would give bulls a lot more breathing space in order to tackle $0.380 and a long term target of $0.440.

Reasoning 

Before shifting gears above $0.273, it’s worth noting that DOGE was in lieu of some near-term losses due to a double top around $0.273. The lower timeframes suggested that bearish pressure had begun to seep into the market. However, a rising RSI on the daily timeframe along with Directional Movement Index’s bullish crossover expelled fears of a prolonged sell-off.

Conclusion 

Once the present round of selling pressure concludes, DOGE was expected to retest the resistance trifecta of the 200-SMA (green), $0.273 price ceiling and the upper sloping trendline (blue).

A breakout above this confluence on strong volumes would allow DOGE to tackle a key supply zone, which could spur a comeback to the $0.440 mark. As highlighted earlier, DOGE would need to maintain constant upwards pressure in order to maximize its gains.


2021-10-19 17:43:14

What you need to consider before investing in altcoins – CryptoMode

New altcoins regularly pop up on the market, anything from coins that operate faster than their predecessor to video game currencies, even extending as far as gold-backed stablecoins. Therefore, regardless if you are a new or knowledgeable investor, it will be to your benefit to stay in the know of market events to see what projects are coming down the pipeline. Many of these projects have proven to be profitable investments, with gains that may be 100x, 1000x, or more. 

But, before you jump into the altcoin market in full swing, there are a couple of tips that will ensure you are making the most of your money.

Only invest what you are willing to lose

As is true with any other digital asset investment, some risks are involved when engaging in a trade. Namely, there is a chance the investment you make may be into a dishonest company or that the company’s long-term objectives don’t pan out. For these reasons, investors do well to avoid investing their entire retirement funds into a single project. Given the volatility of some altcoins, there is always a chance all will be lost. Therefore, investors should start with small, affordable investments that they are okay to lose.

A rule of thumb investors may keep in mind is “avoid purchasing any altcoins until a solid emergency fund exists.” Savings (separate from your altcoin investments) should cover between 3 and 6 months of expenses. At no point should an investor dip into these funds to invest in speculative assets, like altcoins.

Invest diversely

The best inventors aren’t lucky; they are strategic. Smart investors know that cryptocurrency prices will go up and down, and sometimes they won’t recover. Therefore, investors will use a similar strategy to the stock exchange and diversify their portfolios with several different assets such as some gold-backed cryptocurrency, bitcoin or other token projects. As the famous investment saying goes, “you don’t want all your eggs in one basket,” so selecting many projects with diverse offerings will help to eliminate some of the marketplace uncertainty while maximizing upside potential.

Be aware of pump and dump schemes

The thought of making “quick money” is often too much for any investor to pass up. As a result, the altcoin market is not immune to greed, which will occasionally bring out manipulation. Among the most common is what is known as a pump-and-dumb scheme, which attempts to boost the price of a stock or security with fake recommendations that may be false, misleading, or even grossly exaggerated. Those making the false claims often already have large holdings in the company and are waiting for several other investors to buy in and drive up the asset price so they can sell at a profit. The best way to avoid a pump and dump scheme is to do thorough research on a project ahead of time to ensure the project is legitimate and has promising plans for the future. Secondly, market analysts will always caution investors to avoid “buying rumors” by choosing not to pay attention to these schemes.

Do Your Own Research

Many investors may find it tempting to copy what someone else in the market is doing. However, it is important to note that altcoins aren’t like other stocks and securities. The difference is that they are much more speculative. Before making a purchase, investors should do their own research on the project, including whether a third party has audited or otherwise reviewed the underlying code of an altcoin that you may be considering purchasing. Audits often determine if there are any issues in a digital coin’s development. An example of this might be if any central party has total control over the network or its funds.

Almost every coin has a detailed whitepaper outlining the team, their goals, and any other important detail you can think of. The project’s official whitepaper combined with up-to-date news will give investors a pretty good idea of the team’s future plans.

Hold On for Dear Life

Last but not least, users should always consider a long-term hold approach when investing in altcoins. The theory behind this approach is that hasty decisions often lead to selling or buying at a less than advantageous price. By holding an asset long-term, many believe that you can wait out the volatility and turbulence in the market. As crypto’s track records continue to expand, investors can become more confident in the market’s history of growth.

Investing Now and Into the Future

The bottom line is altcoins are excellent alternatives to bitcoin and traditional markets and provide investors with an often advantageous opportunity to diversify their portfolio. Each altcoin represents the vast potential of this market to reshape finance as we know it and may provide investors with a healthy profit as a result. 

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2021-10-19 18:00:00

Ethereum (ETH) Readies for Another Attempt at Moving Above $4,000 – Yahoo Finance


2021-10-19 18:24:42

Shiba Inu Coin Holding the Gains, Dogecoin Not Reacting, Axie Infinity AXS to Jump Again?

Shiba Inu was among the weakest coins since the bearish period began in May in the crypto market. It was trading in a range near the bottom between $0.0000055 and $0.0000095 (6 zeros) until early October. In the first week of this month, we suddenly saw a surge in the price which took Shiba to $0.000035 (5 zeros).

The climb stopped there, but unlike in July when SHIB/USD gave back the gains pretty quickly, this time it held the gains after a small retreat. The 20 SMA hasn’t caught up yet on the daily chart, but the price started turning bullish again in the previous days, so perhaps we will see another surge higher.

Dogecoin Showing No Signs of Life

The 200 SMA has turned into resistance at the top

Dogecoin which is another mem coin, has behaved differently from Shiba Inu token. While DOGE/USD resumed the bullish trend in late July together with all the crypto market while Shiba was showing no signs of life, the situation has changed now

Shiba Inu has surged and is looking ready for another bullish move, Dogecoin is not reacting. The lows are slowly getting higher sure, but the highs are getting lower faster and the 200 SMA (purple) which used to act as support has turned into resistance at the top. No buyers nor sellers are taking the initiative, so everything is on hold here.

Axie Infinity Analysis – the 20 SMA Has Caught Up

Will we see another jump from here?

Axie Infinity coin which is a play-to-earn token has been surging since early July and it is probably the most bullish cryptocurrency in the last 3-4 months. It surged in July when the entire market was in the middle of the most bearish period due to the crackdown on cryptocurrencies and continued to make bullish legs higher every month.

It increased from around $3 at the beginning of July to $155 earlier this month. Until early September, the 20 SMA was pushing AXS/USD higher, with the price jumping up every time the 20 SMA touched it. Now, after the price has consolidated for about two weeks after the last high, the 20 SMA has caught up and it is already providing support on this chart. So, chances are that we might see another bounce off this moving average soon here as well.


2021-10-19 16:01:15

This Ethereum DeFi protocol rallied by 374% in 24 hours

Ethereum is the king of DeFi, we know that. And even though the network does no need to keep proving its worth to maintain that label, it manages to actually surprise everyone every day. A relatively lesser-known token “NU” a couple of days ago, made records and showed the crypto market how much DeFi can achieve.

What’s new with NU?

Two of Ethereum’s privacy infrastructure-focused Layer 2 solutions NuCypher and Keep Network are getting closer to the ongoing merger that was announced 4 months ago in June.

The merger is called the first-ever decentralized, on-chain network hard merge and the resulting network will be called Threshold Network with a new token known only as “T.”

But that’s not all. Recently the network also announced that the first-ever marquee application to be launched on the ‘T’ network will be the only decentralized, permissionless wrapped Bitcoin on Ethereum called tBTCv2. However, that was not what propelled NuCypher into the headlines, its price movement did.

On 15 October, on the first anniversary of NuCypher’s launch, the NU token went crazy. In those 24 hours, it rose by 374% and the next day added to this and cumulatively the token witnessed a 430% jump. As a result, its future counterpart Keep network’s token KEEP also shot up by 126% in those 48 hours.

A substantial reason behind this is also the fact that on 15 October, the Ethereum DeFi token was listed on the exchange platform Bitrue.

NU price action | Source: TradingView – AMBCrypto

The hype around the listing and the anniversary was so huge that even today its effects are visible. The volume traded on-chain presently represents 67.8% of the token’s entire market capitalization.

NU market cap vs 24-hour volume | Source: Coinmarketcap

The token NU alone outperformed the overall crypto market in the last 1 week with KEEP following it. This shows just how quick and large the DeFi space’s growth can be.

NU vs the crypto market | Source: Binance

But not everything that glitters is gold and NU was quick to prove that.

All in a flash…

…is how we can describe the speed of investors’ happiness’ arrival and departure. All of this was just a 1-day thing during which the token witnessed spikes in its active investors jumped from an average of 118 to over 8400 investors. Network growth also observed a similar spike.

NU network growth | Source: Santiment – AMBCrypto

Additionally, investors cashed this opportunity well as over 100 million NU was sold off in a day. Along with that, over 78 billion days were consumed due to long-term holders either selling or moving their holdings – all in 24 hours.

NU age consumed | Source: Santiment – AMBCrypto

However, none of this is in any way a reason for people to get excited because this was all a one-day thing. Since then everything has returned to normalcy. And investors need to remember to stay away from NU since it’s only a headline-worthy coin and not investment-worthy.

The network is riddled with whales who are holding more than 90% of its 687 M circulating supply, so the token will always be susceptible to dumping.


2021-10-19 17:02:50

Cardano price paints ‘death cross’ with ADA at two-month lows vs. Bitcoin

Cardano (ADA) has formed a deadly “death cross” on its daily chart against Bitcoin (BTC) — a market signal that’s generally seen as a warning of more downside in the near term.

The ominously-titled indicator kicks in when an asset’s short-term moving average closes below its long-term moving average. In doing so, it calls for technically-minded traders to increase their bearish positions in the market.

 ADA/BTC in trouble

On Tuesday, ADA’s 50-day exponential moving average (50-day EMA; the velvet wave) dropped below its 100-day exponential moving average (100-day EMA; the blue wave). That marked the sixth 50-100 EMA bearish crossover ever on the ADA/BTC daily chart, raising fears of further declines ahead.

ADA/BTC daily price chart featuring Oct 2021 death cross. Source: TradingView

That is partly due to ADA’s earlier price reactions to death crosses. For instance, in Sept 2020, the Cardano token’s price dropped almost 38.50% against Bitcoin after painting a 50-100 EMA bearish crossover.

Similarly, a death cross pattern on May 12, 2019, subsequently saw a 62.50% price decline.

ADA/BTC daily price chart featuring May 2019 death cross. Source: TradingView

Nonetheless, the likelihood of an immediate selloff remains relatively low. That is mainly because of ADA’s daily relative strength index (RSI), which alerted the token’s status against Bitcoin as oversold, with a reading below 30. Traders typically treat an excessively sold RSI as their cue to enter the market.

For instance, in May 2019, the death cross’s formation coincided with the RSI treading below 30. Later, the price bounced by over 30% to retest the 50-day and 100-day EMA waves as resistance, underscoring traders’ intention to buy oversold cryptos.

Applying the same fractal to the current price action, one can expect the ADA/BTC rates to bounce back, especially as it drops to its two-month-low at 0.00003372 BTC runs down to retest a five-month-old support area defined by 0.00003192-0.00003075 BTC (the red bar in the first chart above).

That inverse Cup and Handle

A weakening ADA/BTC rate merely reflects Cardano’s clumsy performance against the U.S. dollar in recent sessions versus Bitcoin, which has surged massively against the greenback in the same timeframe.

For instance, Bitcoin’s month-to-date gains against the dollar sit around 43%. In comparison, Cardano’s price has slid by over 6% during the same period. 

But further weakness could be expected, according to an inverse Cup and Handle pattern taking shape on its dollar-quoted charts. 

ADA/USDT daily price chart featuring inverse cup and handle pattern. Source: TradingView

In detail, inverse Cup and Handle patterns appear when the price forms a large crescent shape followed by a modest upward retracement.

Analysts consider them as bearish reversal indicators, for they tend to send the price down by as much as the maximum distance between the Cup’s top and its right-hand’s bottom level if the price breaks below the pattern’s support.

Related: Buy the rumor… buy the news? BTC price passes $63K as US Bitcoin ETF launches

ADA’s recent price action fits the inverse Cup and Handle description, with the price now looking to break below the structure’s resistance line near $1.97. As a result, the downside target price is the $0.772-$0.820 area if Cardano confirms a bearish breakout.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.