Dogecoin (DOGE) still remains the king of meme coins
Memecoin Dogecoin experienced a marked bullish bump on Tuesday, bolstered by the announcement that Dogefather Elon Musk is reportedly still interested in buying Twitter on the deal’s original terms. Dogecoin (DOGE) is an open-source crypto token asset with a devoted fan base who believes in the token’s dominance.
Dogecoin (DOGE) was created to be a lighthearted, easygoing cryptocurrency that would appeal to a general crypto audience.
Furthermore, it aimed to establish a community opposed to genuine Bitcoiners. Dogecoin has attracted the attention of two well-known individuals: Mark Cuban and Elon Musk. This interest has drawn more people into the Dogecoin (DOGE) ecosystem.
Bitcoin has performed well over the last few days but has failed to surge past the resistance level above $21k.
Bitcoin, the world’s leading cryptocurrency, has been performing well over the last few days. The coin has added more than 4% to its value in the last 24 hours and is now trading above $20k for the first time this month.
The positive performance coincides with that of the broader cryptocurrency market. The crypto market has been in a bullish trend since the start of the week, with the total crypto market cap now closing in on the $975 billion mark.
Bitcoin has been trading above the $20k level for the last 48 hours and has failed to mount a rally towards the $21,368 resistance level.
BTC is down by less than 1% in the last 24 hours and could dip below the $20k support level in the coming hours if the bulls don’t take control of the market.
Key levels to watch
The BTC/USD 4-hour chart remains bullish despite Bitcoin underperforming over the last few hours. However, the technical indicators show that Bitcoin could become bearish if the current momentum is maintained.
The MACD line remains above the neutral zone, indicating bullish momentum for Bitcoin. The 14-day RSI of 62 also shows that Bitcoin could enter the overbought region if a sustainable rally can be achieved.
At press time, BTC is trading at $20,205 per coin. If the bulls don’t take control of the market, Bitcoin could slip below the first major support level at $19,581 before the end of the day.
However, the second major support level at $19,026 should cap further downward movement in the near term.
The bulls could regain control of the market and push BTC towards the $20,819 resistance level. In the event of an extended rally, BTC could surge past the $21,368 resistance level in the short term.
Where to buy now
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BabyDoge has launched its Decentralized Exchange (DEX), BabyDoge Swap.BabyDoge Swap allows users to simply buy, sell, swap, or trade any token on Binance Smart Chain by connecting their respective BSC wallets without any registration. Users can also earn passive rewards with crypto.
In addition, BabyDoge Swap claims to be a much lower-cost solution than Ethereum (ETH), as it enables BabyDoge holders to enjoy the lowest swap fees on Binance Smart Chain.
Also BabyDoge is the TOP Memes Token by Social Engagement and the Most Bullish BNBCHAIN Project in the last 24hours.
GMX is a DEX that supports spot and perpetual futures on an on-chain interface
The token gained after news that it was getting listed by Binance on Wednesday.
GMX faces a further correction
GMX dubs as a decentralised exchange that supports spot and perpetual futures via its on-chain trading interface. Avalanche and Arbitrum power the DEX. GMX supports zero price impact trades at very low swap fees.
A key feature of GMX is that it allows users to borrow up to 30 times their initial margins. Its native token, GMX, provides utility to the ecosystem and facilitates governance.
GMX token rose nearly 40% before sliding following the latest news. On October 5, Binance announced the listing of the GMX token. Binance said it would open trading for GMX pairs with BTC, BUSD, and USDT. The trading started on 2022-10-05 at 10:00 (UTC). The crypto exchange stated that GMX withdrawals would start on 2022-10-06 at 10:00 (UTC).
GMX corrects after double-digit gains
Source – TradingView
Technically, GMX rose past $56 resistance as social interest in the token grew on Wednesday. The token has since fallen back and trades below the resistance zone.
The recent gains forced the token to break above the upper limit of the Bollinger bands. That implied that a correction was likely to happen. The token’s support is at $38, coinciding with the lower limit of the Bollinger bands.
Should you buy GMX
This analysis finds that GMX could continue to face correction after failing to maintain above $56 resistance. In our assessment, the token could have been driven by a retail frenzy. That is emphasised by data by LunarCrush, which shows that GMX was second in terms of social interest on Wednesday.
Of course, listing by a major exchange like Binance is a major boost for GMX. However, as retail interest cools, the price could take a hit.
Shiba Inu is the TOP Trending Crypto Project in Turkey
Shiba Inu has shared the first concept of another hub in its metaverse project. The development suggests that the team behind the development of SHIB: The Metaverse, Shiba Inu, and The Third Floor (TTF) are working relentlessly toward the project’s success.
The acceptance of Shiba Inu (SHIB) as a payment method across online stores has been growing exponentially.
Online businesses are left with almost no choice but to enable support for Shiba Inu payments, as interest in the canine-themed cryptocurrency spikes.
Dogecoin has been rallying over today’s trading session, following the general sentiment in the market and receiving support from its biggest advocate Elon Musk. The entrepreneur and CEO of Tesla and SpaceX confirmed a deal to purchase social media Twitter (TWTR).
Dogecoin currently holds the number 10 spot of all cryptocurrencies by market capitalisation. It currently has a market capitalisation of just over $11 billion with over 132 billion DOGE coins circulating in supply.
Despite the bad market condition, this token still performed a good price action in the last 24 hours. BabyDogeSwap rewards farms will be live Tomorrow.BabyDoge is the Most Bullish MEMES Token in the last 24h.It is the TOP Trending Crypto Project in Turkey.The launch of the babyDoge swap will be held tomorrow.
Babydoge is the Most Mentioned BNBCHAIN Project in the last 24h.It is the Most Trustworthy Memes Project on @BNBCHAIN by TrustScore.
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DOGELONMARS CONTINUES To Increase Its Dogelon Warriors
DOGELONMARS HAVE A New Total of 140,313K Dogelon warriors.Come Join the DogelonWarriors On Their journey To Mars. DOGELONMARS The Sleeping Giant has Had Big Spikes Up.Dogelonmars has gained tremendous popularity amongst present day investors as the developers encourage people to airdrop their tokens to other investors to spread community building, which is quite impressive.
Holders Have Increased on A Daily Basis Bringing it To New Level of 140,313k.Dogelon is based on a liquidity pool model having a total supply of 1 quadrillion ELON.
Over 563.86 Million Shiba Inu (SHIB) burnt in the past week
Recent data reveals that the Community-led SHIB Burn initiative successfully reduces Shiba Inu’s circulating supply further by 563.86 Million Shiba Inu tokens in the past seven days and 53.66 Million in the Past 24 Hours via 54 separate transactions.
Three Community-led Burn Projects, including Shibburn.com, Travis Johnson’s SHIB Super Store, and 1Cent Token, burns an astounding amount of Shiba Inu in the past week.
Besides weekly burns, Shiba Inu Community also burned 53,663,523 (53.66M) SHIB via seven separate transactions in the past 24 hours, Shibburn.com reports.
