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Analysts and investors typically view a decline in Bitcoin’s bullish trend as a precursor to a potential rise in the altcoin meme coin market. As such, the current market trend could mean that capital will move from Bitcoin to other cryptos.
A small drop in Bitcoin’s market share shows a slight but important change. Analysts think this might produce more explosive performance for meme coins and altcoins. However, Bitcoin’s dominance has overall gone up this year, showing that the market is mixed.
Next Cryptocurrency To Explode
Attention in the crypto market in the coming month will be directed toward altcoins and meme coins as the market grapples with fluctuations. Investors can capitalize on the moment and take a position in upcoming tokens like the 99Bitcoins token. 99Bitcoins token’s transition from the ERC-20 to the BRC20 token standard enables developers to create a new token standard. This post covers the details of its presale.
1. dogwifhat (WIF) [NO RECENT RELEVANT TWEETS]
Over the last day, the crypto market saw prices rise. Alongside this, Solana’s price and its associated memecoins also went up. For instance, the price of dogwifhat (WIF) increased by around 3.65% during this period.
Despite crypto prices being more unstable lately, WIF’s price has stayed around $3.050, a level it’s been at for the past week. Not many people are strongly buying or selling WIF in the crypto market right now. But, if WIF stays above $3.050, the bulls (buyers) could start gaining strength again and aim to push the price to $3.9075 this month.
Market conditions seem promising for WIF, and if things stay bullish, it may reach the $4.65 goal. According to a recent analysis by a popular cryptocurrency data tracker, meme tokens Dogwifhat and Pepecoin are leading in leverage among altcoins. The data shows that these tokens have the highest Open Interest to Market Cap Ratios, meaning there’s a lot of leveraged trading happening compared to their market sizes.
At the same time, Binance is launching an appealing promotion for taker fees on spot and margin trading pairs. Starting May 21, 2024, users can enjoy reduced taker fees on various altcoin pairs, including WIF/USDT. With this discount, Binance hopes to encourage more trading, which could boost trading volumes and involvement in the market for supported cryptocurrencies like Dogwifhat.
2. 99Bitcoins (99BTC)
The 99Bitcoins Token (99BTC) is a fresh initiative that offers a unique opportunity for learning and earning. Potentially predicted to skyrocket by 1,000 times in 2024, this token operates on the Ethereum network and intends to transition to a BRC-20 token.
99Bitcoins caters to a vast audience through its popular news platform and boasts a following of 700K on YouTube and 2.8 million via email subscriptions. Their latest project introduces a Learn-to-Earn platform that aims to transform crypto education. Participants are rewarded for their curiosity and self-directed learning through interactive modules, quizzes, and courses.
Don’t forget to sign up for our FREE #Bitcoin crash course! 🔥
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Start now! 👉 https://t.co/fcRrMaJ1jO#99Bitcoins #Crypto #BTC #Alts pic.twitter.com/bzdlhvkfMm
— 99Bitcoins (@99BitcoinsHQ) May 12, 2024
Furthermore, the 99Bitcoins Token offers various perks, like unlocking premium trading signals, discounts, and exclusive events. Additionally, it can be staked for passive income. This unique approach of combining learning and earning has garnered interest from early supporters who believe the token could attract significant attention once it becomes available.
With the presale already raising over $1 million, investors are showing confidence in the potential of 99Bitcoins Token. The token also provides benefits like BRC20 tools and education, a VIP community group, and trading signals. Users can also get a 1,400% APY, which will decrease as more users participate in staking.
Visit the 99Bitcoins Token Presale.
3. Book of Meme (BOME)
BOOK OF MEME (BOME) has recently emerged as a notable investment opportunity. Its mix of meme culture, decentralized storage, and advanced trading options has made it widely popular. Over the past year, BOME’s value has surged by 1093%, making it a top contender for generating significant returns.
In recent times, there has been a significant rise in BOME’s trading volume, indicating growing interest from investors. Currently, the price of BOME stands at $0.01135, showing a 10.48% increase within just 24 hours. BOME’s market capitalization is close to $745 million. It achieved a billion-dollar market cap within 48 hours and secured a listing on Binance, highlighting its remarkable potential.
Thanks to robust team participation and other forms of support, there’s a positive outlook for BOOK OF MEME in the long run. Even though it’s currently placed 95th on CoinMarketCap, with a $384 million 24-hour trading volume, it’s notable as a Solana-based crypto available widely on Binance.
These aspects hint at potential growth, making BOOK OF MEME an attractive choice for long-term investment.
4. Near Protocol (NEAR)
$NEAR’s recent market performance reflects conflicting investor sentiments, yet its developer-friendly platform continues to attract attention. Its scalability and user experience position it for potential growth, pending broader market acceptance.
Near Protocol stands out in the crypto market for its AI innovation and advancement, garnering a solid reputation. Despite recent negative attention in the crypto news, Near Protocol remains a top investment choice.
Suspicions of a hack on NEAR Protocol’s X (Twitter) page arose after cryptic tweets appeared on the account. While this controversy circulates in crypto circles, the project remains resilient, as seen in its price charts.
Witness the birth of user-owned AI.
In a world powered by Chain Abstraction.
And reclaim your sovereignty.
Cont… pic.twitter.com/bJvxCQsdDv
— NEAR Protocol (@NEARProtocol) May 10, 2024
NEAR shows an impressive 3% weekly increase, adding to its 44% growth since May began. Experts predict even higher spikes for NEAR in the next few weeks. The price of NEAR is steadily rising and gaining momentum. However, it’s close to the critical support level of $6.215.
Despite this, the upward trend indicates a recovery rally gearing up to challenge the previous peak of $9. This signals the end of the current pullback phase and indicates increased demand. Right now, NEAR is trading at $7.16, poised to surpass the $8 mark. The long-standing support trendline also extends the bullish trend and forms higher highs.
5. Floki (FLOKI)
Floki’s price shot up by over 10% in the past day, which was a big deal as meme coin influencer Roaring Kitty returned after three years away. This surprise and Floki hitting a high of $0.00031387 on March 14th and some ups and downs since then kept Floki’s price reasonably steady at around $0.00013000 until the recent jump.
After a couple of months of going down, Floki’s price made a bullish pennant pattern. Yesterday, it broke out of that pattern bullishly, setting the scene for something big. If Floki manages to go above the crucial psychological resistance level at $0.00020, it could jump by a whopping 50%, potentially even hitting $0.00030 in the next few weeks, supported by certain trend-based Fibonacci levels.
Floki DAO just suggested burning a bit over 15 billion tokens. Regarding this matter, 15.40 billion FLOKI, valued at $2.8 million, got moved to the Floki multisig. Consequently, a proposal suggested giving back 1% of the tokens to the affected wallet. At the same time, the proposal aimed to eliminate 15.24 billion tokens and give back 154 million tokens.
#Floki is the top trending topic on Grok, Elon Musk's leading AI project!
Notably, it highlights Floki's DAO proposal to burn 15.24 billion+ $FLOKI tokens, worth almost $3 million at the time of writing.
This marks the 14th proposal to date, in which Floki's thriving DAO… pic.twitter.com/UQJAqcD3FG
— FLOKI (@RealFlokiInu) May 14, 2024
During this time, the price of Floki Inu increased by 12.36% in the last 24 hours, reaching $0.0001918 in current trading. The cryptocurrency’s trading volume surged by 320.12% to $518.94 million within the same period, contributing to positive market sentiment.
As previously observed, the burning of FLOKI tokens positively impacts the token’s price movement, fostering an upward trend. CoinGape Media previously highlighted a surge in Floki Inu’s price after burning nearly 190 billion tokens earlier in the year. This trend suggests an optimistic outlook for Floki’s future price.
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