Yes, there's a second meme cryptocurrency inspired by the meme dog. And a Wednesday flippening shows it's no joke.
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This saw Bitcoin prices tumble to below $30,000 in a dramatic plummet from its soaring success.
A cryptocurrency analyst at the YouTube channel “Broke Man Finance” has analyzed the SafeMoon price trend and predicted that the token would likely hit a new all-time high soon.
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(Bloomberg) -- Crypto exchange Binance.US, whose chief executive officer recently resigned, just appointed a new president.
CryptoTV by CoinSwitch Kuber | Kavita Gupta, Founder - Delta Blockchain Fund, FINTECH.TV
This strategy is set up to restrict the selling of the tokens and instead support its ownerships. The initiative will make the merchants think before they sell the tokens, and it gives added benefit to the current coin proprietors. This technique means to lessen the abrupt declines brought about by the sale of cryptos that result in varying prices and market fall.
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The second-largest crypto by market capitalization holds its position firm against its hurricane-like hurdles. $ETH… https://t.co/mBER1jg0bC
“If it is a Ponzi, get in on the ground floor,” he said. In about an hour, the price of SafeMoon rose 18 per cent. A Barstool Sports spokesperson was unable to confirm whether Portnoy still owns SafeMoon.
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ProShares Bitcoin Strategy ETF, which began trading late last month, was up 10.95% on Monday.
From the perspective of technical analysis, profit-taking near all-time highs and the need for a retest of lower support levels are normal processes for most cryptocurrencies. In fact, a quick glance over discussions by many analysts and traders on Twitter shows that most expected BTC to revisit lower support levels at $64,000 and below before recapturing bullish momentum and moving higher.
How the price of Ethereum will change in the future is impossible to know for certain.
Six out of the top-10 cryptocurrencies were trading higher at 9.30 hours IST. Binance Coin and Solana witnessed profit booking whereas XRP gained 9 per cent.
Currently, the global crypto market cap stands at $2.87 trillion, an increase of 4.70%. Other cryptocurrencies were also trading in the green.