Altcoin

Why Meme Coins Need Quality Market Makers With Advanced Algorithms Rather Than Token Dumpers

Published

6 months ago

30 July, 2024

Why Meme Coins Need Quality Market Makers With Advanced Algorithms Rather Than Token Dumpers

It was bound to happen. As society became more and more interconnected with social media and finance became more and more tech-savvy, the intersection of pop culture and finance was bound to intersect. Instead of a beautiful synergy of two ideas, it felt more like a head-on collision and meme coins were born. While the first meme coin to achieve widespread fame was Dogecoin (DOGE), many have followed in its wake. In the case of DogecoinWhat started as a prank to make fun of cryptocurrency has turned into a cult following, which has morphed into the same passionate community that raised money for the Jamaican bobsled team to compete in the 2014 Olympics. Since this surprising success, many others have followed, with the trend even trickling back into mainstream finance with the “meme stock” that was Gamestop. But why have meme coins taken on a life of their own, why have they created so much controversy, and what role can they play in legitimate finance? Let’s find out.

Why are meme coins a part of today’s society?

The idea of a meme coin is both absurd and more honest than many financial instruments and collectibles. Creating value from what is essentially a meme, or a short-lived joke, is similar to any other fad. Tickle-Me-Elmos, POGs, fast fashion trends. These are all money-making ideas that arose from a spike in popular interest and nothing more. What is interesting about meme coins is the intersection with legitimate financial instruments. The world of cryptocurrency has democratized our ability to create a digital, fungible currency with a fixed mintage and circulation. Instead of having to quickly design and mass produce a product that leverages a rapidly evolving meme, teams can create a meme coin overnight to capitalize on its popularity quickly and at very low cost if the team has the right talent. At the other end of this trend is the collectible element. Meme coins can act as a type of currency, yes, but they also act as a limited edition collectible, and that is what can help drive up prices, especially in the short term as popularity increases. Everyone wants to get in on the action, so the prices of limited supplies go up. However, it is what the development team does next that can determine whether that stock crashes and disappears forever, or stabilizes and grows beyond a meme to become a legitimate cryptocurrency with a long-term community of support. This is perhaps the most frustrating part of meme coins in today’s environment. Teams with bad intentions may intentionally launch a coin for a pump and dump scheme, which will inevitably hurt those who want to be involved. However, beyond being bad form and bringing disrespect to the cryptocurrency industry, more and more teams are seeing that this is a short-sighted move for meme coins because they have a place in the longer lifecycle of cryptocurrency markets. With the right TGE guidance and MEV market creation tools (organizations like Peanut trade specialized in these services, even for meme coins), meme coins can be successful in the long term.

Scams and Scandals

Meme coins have long been, and still are, a source of speculative investment and potential pump-and-dump schemes when they launch. There are several signs to look for to determine if a meme coin is a scam, although there are no guarantees either way. Coins with little community presence that suddenly gain popularity, especially from certain influencers, may be on the rise only to crash shortly thereafter. Market volume and uneven liquidity are bad signs, as is a lack of transparency and online presence from the development team itself. White papers and detailed roadmaps, on the other hand, show a purpose for the coin and indicate a long-term plan. However, with any meme coin as with any investment, never invest more than you are willing to lose.

Strategies for Aligning Platforms and Investors

For development teams aiming to launch a legitimate meme coin, you need to be aware that there are predators looking to take advantage of your token launch even if you have the best intentions. Being able to combat those who seek to artificially inflate prices when the coin is launched to dump it is critical. Teams need to have tools in place to safeguard liquidity from Third party arbitrage botsbut they need to design their tokenomics and smart contracts to be robust and long-term focused from the start. As mentioned above, there are organizations like Peanut Trade that offer end-to-end services to guide this process, and teams may find an advantage if they are looking to build a long-term community focused on stability and passive profit for their project’s treasury.

Successfully launching any token, but especially a meme coin, over the long term requires strategy and commitment well before launch, but it also requires a strong hand (and automated tools) on launch day, with management tools working to keep things fluid until the coin stabilizes on its own. Once that happens, the few that are well managed can last for years and grow their communities into global forces.

This is the weirdness of our modern world. The ability to create your own cryptocurrency, where things like Dogecoin started as a joke and became a billion-dollar wealth fund, where a borderless community around the world can unite around any idea they want and develop something together for the long haul. It’s a weird world, but it’s pretty amazing.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the personal views of the author and do not reflect the views of The Crypto Basic. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Altcoin

Top 3 Ethereum-Based Altcoins 3 Times

Published

6 months ago

1 August, 2024

AltcoinUpdates Staff

Despite the increasing selling pressure in the cryptocurrency market, mid-cap and small-cap altcoins have seen an increase in buying sentiment. This indicates a shift in interest among users towards these cryptocurrency tokens.

Are you thinking of investing in ETH-based altcoins for the next AltSeason?

Scroll down because in this article we have covered the top three Ethereum-based altcoins that have the potential to see a huge uptrend in their respective portfolios in the near future.

Safe Price Analysis (SAFE):

Despite the growing bearish sentiment in the cryptocurrency market, SAFE price has seen bullish price action for the third consecutive day, highlighting the increased price action for the altcoin in the market. Furthermore, it is currently trading at a discount of 76.3% from its ATH of $4.01.

TradingView: SAFE/USDT

The technical indicator, MACD, shows a steady decline in the red histogram, highlighting an increase in bullish sentiment in the cryptocurrency market. In addition, the averages show a potential bullish convergence, suggesting a high possibility of a positive reversal.

If the bulls continue to gain momentum, SAFE coin price will prepare to test its resistance level of $1,450. On the contrary, a bearish action could send this altcoin crashing towards a new all-time low (ATL).

Aethir (ATH) Price Analysis:

Aethir price has seen a bullish price action adding over 10% to its portfolio with a trading volume of $40.126 million despite a bearish cloud over the cryptocurrency space. Notably, with a market cap of $292.916 million, this altcoin has secured the 216th position in the global cryptocurrency list.

TradingView: ATH/USDT

The MACD indicator has been showing a steady rise in the green histogram. However, its RSI has been showing a strong bearish curve in the 1D time frame. This suggests mixed sentiment for the ATH price in the cryptocurrency market.

If the market holds Aethir price above its important support level of $0.07050, the bulls will gain momentum and prepare to test its upper resistance level of $0.08415. On the contrary, if the bears overpower the bulls, this altcoin will prepare to test its low of $0.06435.

Neiro Ethereum (NIERO) Price Analysis:

Built on the Ethereum chain, Neiro Ethereum is a project that has a total supply of only 1 billion tokens. Positively, it has no buy/sell fees or team tokens for governance or community approach. It operates on its own and promotes itself as the next big opportunity in the cryptocurrency world.

With a trading price of $0.1852 and a total supply of 1 billion tokens, it has successfully secured the 234th position in the global cryptocurrency ranking, with a market capitalization of $185.446 million.

Notably, it is up 53.86% over the past day with a trading volume of $36.64 million, a decline of 7.68%. Furthermore, it is up about 1,200% since its inception, highlighting a strong bullish outlook for the altcoin in the near future.

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Altcoin

Top 6 Altcoins Set for Explosive Rally Before 2025

Published

6 months ago

1 August, 2024

AltcoinUpdates Staff

The cryptocurrency market is on the verge of significant change as we approach 2025. The Altcoin Daily Analyst Austin predicts that any changes in monetary policy could trigger a strong rally in altcoins, especially with a possible turn in the Federal Reserve’s benchmark interest rate expected in September.

This pivot could drive explosive growth in the cryptocurrency market, benefiting Ethereum, Solana, and several promising new altcoins. Here are some altcoins ranging from under $1 to $2 that can give you the highest returns in the current market crash.

We are excited, are you? Let’s dive in!

Top 6 Cryptocurrencies to Watch

Aethir: The Decentralized GPU Marketplace

Aethir is positioning itself as a leader in decentralized cloud infrastructure for gaming and AI. With over $36 million in annual recurring revenue, Aethir is addressing the growing demand for GPU computing driven by major tech companies like Google and Microsoft. Its decentralized infrastructure leverages underutilized GPUs, making it a key player in the burgeoning tech industry. The current price is $0.07176.

Ondo: The Best Bet in the RWA Sector

Next up is Ondo, whose real-world asset protocols are changing the tokenization of financial assets. With an annual dividend of 5.3% USDY, ONDO is the governance token for the Ondo DAO and Flux Finance. This token has seen strong demand, demonstrated by consistent investor buy-ins. Recently, ONDO’s price has dropped 35% in two months, forming a triangle pattern that suggests a breakout. Rising OTC holdings and reduced selling pressure suggest a bullish outlook. The current price is $0.9251.

Lukso’s social and cultural blockchain unites creators, brands, and users. An Ethereum doppelganger, Lukso adds Universal Profiles and gas-free transactions to blockchain usage. Its creative strategy and strong leadership make it a blockchain mass adoption project to watch. Current price is $1.71.

AIT Protocol: Decentralized AI Data Annotation

The AIT Protocol addresses the need for decentralized work in AI data annotation. Uniquely, the AIT Protocol connects human trainers with AI model owners to improve AI models through a decentralized marketplace. However, its adoption in Asia and strategic investments suggest that it could disrupt AI. The current price is $0.1169.

Foxy (Line): Meme coin with level 2 potential

Foxy, a meme coin for Linea Layer 2 Ethereum scaling, has an endorsement from ConsenSys. Foxy stands out in Ethereum Layer 2 due to Linea’s MetaMask integration and fast transactions. Additionally, Linea adoption and reduced transaction costs are influencing its growth. The current price is $0.01116.

Off the Grid: Emerging Altcoin for Gaming

Lastly, on the list is Off The Grid, developed by Godzilla. This highly anticipated AAA game promises to make waves in the crypto gaming industry. Although it hasn’t launched yet, positive feedback from industry experts supports its potential success.

Infrastructure projects like Immutable and specific games like Xers and Star Heroes are also worth considering for those interested in crypto gaming.

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Altcoin

Top Analyst Admits He Ignored XRP For Years, But Now Finds XRP Chart Very Interesting

Published

6 months ago

1 August, 2024

AltcoinUpdates Staff

Top Analyst Admits He Ignored XRP For Years, But Now Finds XRP Chart Very Interesting

Scott Melker, host of The Wolf of All Streets podcast, said he hadn’t paid attention to XRP charts for a while, but now finds them intriguing.

Melker revealed this in a recent send after analyzing XRP’s pattern on the weekly timeframe. He shared a chart that suggests XRP is on track to break out of a significant resistance channel.

While acknowledging that a rejection is likely, Melker noted that a subsequent breakout is on the horizon. Furthermore, the analyst emphasized that regardless of an individual’s perception of XRP and its performance, this upcoming price action is worth keeping an eye on.

Notably, Melker’s latest analysis on XRP comes as the asset has outperformed the broader bear market, which staged a solitary comeback while others fell. XRP surged more than 10% on Wednesday, briefly emerging as the day’s best-performing cryptocurrency among the top 100.

This development has triggered renewed interest in XRPeven among market observers like Melker and Ali Martinez, who rarely comment on XRP’s price action.

XRP Resistance Levels to Watch

In his latest commentary, Melker identified immediate resistance levels that XRP must overcome on its climb to higher prices. These levels include $0.75 and $0.93, which XRP must overcome to reach $1, with additional barriers at $1.3 and $1.9.

Scott Melker's XRP Chart Scott Melker’s XRP Chart

Interestingly, for the immediate barrier of $0.75, Melker is not the only analyst to emphasize its importance before aiming higher. Analyst “Crypto Adict” also commented on this level yesterday, urging caution versus ambitious goals like $100 when there are more immediate challenges.

The impact of this resistance level was evident in March when XRP rose to $0.744 in one day but he was unable to continue his ascent.

In his analysis, Ali Martinez echoed Melker’s sentiment by highlighting the $0.93 price level as a significant hurdle. Martinez stressed out that once XRP breaks above this level, it will effectively end its nearly seven-year downtrend, opening the door to higher highs.

At press time, XRP is back just above $0.60 after hitting $0.6556 yesterday, reflecting an 8% decline in the past 24 hours. Notably, XRP’s uptrend has been interrupted by Bitcoin’s volatility, as the leading asset fell back to the $63K range yesterday.

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Altcoin

Dogecoin (DOGE), ETFSwap (ETFS), and Shiba Inu (SHIB) are poised to lead the altcoin rally in a big way

Published

6 months ago

1 August, 2024

AltcoinUpdates Staff

Dogecoin (DOGE), ETFSwap (ETFS), and Shiba Inu (SHIB) are poised to lead the altcoin rally in a big way

Dogecoin (DOGE): Altcoin Rises From Meme Origins to Market Rally’s Top Spotlight

Dogecoin (DOGE), initially launched in 2013 as a “joke currency” based on a popular Shiba Inu meme, is now positioned to lead a major altcoin rally. Despite its humorous origins, Dogecoin is gaining popularity among investors due to its platform utilities, including transaction speed and payment methods. Currently, Dogecoin (DOGE) is trade at around $9,139, a recovery followed by a weekly low of $0.11.

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