A lot of people have made millions from meme coins. These are crypto assets that have gone from zero to billions of dollars in market cap in a very short time. It’s therefore understandable if you are thinking of investing in meme coins. These coins typically have the following features:
Largely speculative assets that have very little underlying value.
Meme coins are prone to high levels of volatility.
Anyone can literally launch a meme coin from anywhere.
In case you would like to become rich from meme coins, there are a few coins that you can check out right now.
Floki Inu (FLOKI)
Floki Inu (FLOKI) is a meme coin that appears to be just boiling under the surface. It is one of those meme coins that also looks like it has a lot of potential for success.
Besides, when you look at the price action, you see a very undervalued meme coin that continues to gain a lot of coverage on social media. At the time of writing, FLOKI was trading at $0.00003295 with a market cap of $300 million.
SafeMoon (SAFEMOON)
Although it has been around for some time, SafeMoon (SAFEMOON) has not achieved the potential we believe it can. Instead, the coin has largely remained steady. But there is a chance it could blow up in the future.
Right now, SafeMoon is trading at a market cap of around $350 million. While we are not saying it could hit $20 billion like Shiba Inu and others, there is still so much room there to bring in more gains. It is definitely one to watch.
Looser coin (LOWB)
With a market cap of just $2.7 million, Loser Coin (LOWB) is a very high potential meme coin. The only way is up for this coin, and there is a huge chance that LOWB could grow 10x in the near term. It is currently trading at $0.00004425.
The price of Internet Computer (ICP) reversed directions after falling to its record low near $14.50 on Feb. 24 and has rebounded by more than 30% ever since. And now, it appears the 35th-largest digital asset by market capitalization has more room to grow in the coming weeks.
ICP breaks out of ‘falling wedge’
ICP’s daily chart shows a falling wedge pattern — a setup consisting of two descending, converging trendlines connecting lower highs and lower lows. The intersecting nature of the two lines indicate a weakening bearish momentum. As such, traditional analysts anticipate a breakout out of a wedge to be bullish.
For ICP/USD, the wedge hurdle was near $17.75, as shown in the chart below. It broke above it on March 22, and kept on rising in the next daily session, accompanied by an increase in trading volumes. On the whole, it shows a convincing falling wedge breakout in action.
In a “perfect” scenario, breaking out of a falling wedge pattern — to the upside — can see a subseqeunt price rally by as much as the maximum distance between the wedge’s upper and lower trendline. That may put ICP en route to over $27 — by almost 50% — sometime by April.
Nonetheless, there is also a possibility that ICP’s breakout mode exhausts midway near $20, a level that coincides with the resistance trendline of its multi-month descending channel. Still, it would leave the Internet Computer token with a potential 20% upside setup before the next pullback occurs.
Bearish risks remain for ICP price
Falling wedges are poor performers when it comes to predicting bullish chart patterns, according to Tom Bulkowski, a veteran stock market investor, who noted that they work well when predicting a “downward breakout in a bear market.”
ICP has been in a bear market since its launch in May 2021 across the crypto exchanges, with its price plunging more than 90% from its debut rate of around $240 (data from Binance). The token dropped amid allegations that its founding company, DFINITY, dumped billions of dollars worth of Internet Computer tokens while simultaneously barring its early investors from exiting their positions.
Additionally, a correction across the Bitcoin (BTC) and the rest of the cryptocurrency markets also weighed down the ICP’s bullish prospects.
Notably, the correlation between Bitcoin and Internet Computer has been mostly positive since the ICP’s trading debut on exchanges. In other words, ICP typically sees downside moves when BTC experiences a correction.
ICP/USD daily price chart. Source: TradingView
Despite logging a falling wedge breakout, ICP still eyes further bullish confirmation as it trades below its 50-day exponential moving average (50-day EMA; the red wave) near $19, a strong resistance level since September 2021.
Failure to mark a break above the 50-day EMA could have ICP retest its record low near $14, down over 20% from today’s price.
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.
Mina has raised $92 million from investors, money that will go towards expanding its ecosystem.
Mina is looking to become a leader in the Zero-Knowledge smart contracts space.
Mina is currently on an uptrend as investors bet on higher prices after the current funding round.
Mina MINA/USD is one of the most promising projects at the moment. It is one of the cryptocurrencies that are working towards privacy-focused smart contracts. This is a big deal because as Web 3.0 comes alive, privacy will become one of the most important things that people will focus on. It’s only logical considering that part of the biggest issues with Web 2.0 is the centralization of power in the hands of a few big corporations and the commercialization of personal data.
Besides taking on one of the biggest aspects of the crypto market, Mina now has the resources to move ahead with its plans. On March 17th, Mina announced that it had raised $92 million in a round of funding led by crypto heavyweights such as FTX Ventures, Three Arrows, and other investors.
Mina intends to use this money to actualize its goal of becoming the number one blockchain in developing Zero-Knowledge Smart Contracts.
This move seems to have excited investors, which is reflected in its price action. Mina has been up by 36% in the past week, making it one of the best performers in the week. Mina continues gaining upside momentum, an indicator that investors expect it to hit even higher prices in the short to medium term.
Moving averages point to more gains
Source: TradingView
In the past 24-hours, Mina has been trending up. In this period, the 20-day MA has been outpacing the 50, and 100-day moving averages. This is an indicator that the price is rising at an accelerated pace. If buying volumes increase in the entire crypto market, MINA could easily test prices above $3 in the short term.
Summary
Mina is gaining upside momentum at the moment. The moving averages are all turning bullish, indicating that MINA could test higher prices in the short term. This price action has been triggered by news that MINA had raised $92 million from investors, which will use to grow its ecosystem.
The global supply chain continues to struggle to get back on track following a tumultuous three years that have witnessed clogged shipping ports and a breakdown of the just-in-time delivery system.
One blockchain project looking to help solve some of these issues while also facilitating the transition to Web3 is OriginTrail (TRAC), a logistics and supply chain management-focused blockchain protocol aiming to become the world’s first decentralized knowledge graph (DKG).
Data from Cointelegraph Markets Pro and TradingView shows that the price of TRAC has increased 162% in the past week, going from a low of $0.36 on March 15 to a daily high of $0.95 on March 22 amid a 1,070% increase in trading volume over the past 24 hours.
TRAC/USDT 4-hour chart. Source: TradingView
There are three underlying reasons behind the sudden spike in TRAC’s price and trading volume: the ongoing rollout of OriginTrail v6, the launch of AidTrust and the migration to Web3.
OriginTrail v6
The most significant development helping to boost the outlook for TRAC is the ongoing rollout of OriginTrail v6, which is currently running on the testnet.
The @origin_trail v6 testnet is growing into a beast! This week we reached a new record of 156k publishings measured in 24h, which is ~500x improvement over the highest seen number on previous DKG versions. And we are only getting started 1/4 https://t.co/2ZVXuFwSNU
— Brana Rakic – OriginTrail (@BranaRakic) March 18, 2022
According to the team at OriginTrail, v6 is part of the next evolution of the DKG that will help improve the performance of the network by several orders of magnitude. It will also introduce new capabilities like Universal Asset Locators and driving interoperability with legacy knowledge graphs such as the Google Knowledge Graph.
Users who are interested in contributing to the community now have the opportunity to set up a v6 node to earn TRAC while also helping support the overall functioning of the OriginTrail network.
Launch of AidTrust
A second element bringing attention to OriginTrail has been the launch of AidTrust, a joint product released in conjunction with BSI UK to bring visibility and trust to pharmaceutical supply chains.
AidTrust, a joint @TraceLabsHQ & @BSI_UK product that uses @origin_trail DKG to provide visibility & trust in pharmaceutical supply chains is currently being rolled out to 80+ treatment centers across India .
AidTrust combines the capabilities of the DKG with BSI’s extensive supply chain experience to help ensure that donated medicine reaches the intended patients in a timely manner.
Using AidTrust, NGOs and pharmaceutical manufacturers are able to monitor the movement of donated products through the supply chain, identify any potential risks and make real-time decisions based on secure data.
AidTrust is currently in the process of being implemented in over 80 treatment centers in India and there are plans to roll out the platform to more than 40 additional countries worldwide.
The ongoing rise and transition to Web3 is a third factor providing some lift for TRAC as its Decentralized Knowledge Graph can help monitor, organize and verify both physical and digital assets and make them discoverable on the blockchain.
As blockchain technology is slowly integrated into the underlying infrastructure of the internet, projects like OriginTrail that help with data tracking will be an important piece of the overall architecture as data is the commodity that powers the digital world.
OriginTrail is also in the process of integrating with the Polkadot ecosystem through the creation of an OriginTrail parachain that will give oracle functionalities to any Polkadot parachain interested in DKG integration.
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.
Ethereum Classic (ETC) price climbed on March 22, ignoring a deadly “death cross” on the weekly chart, as traders raised their bets on its potential to become a haven for miners fleeing the rival Ethereum blockchain.
ETC’s price jumped over 15.5% to reach $44 a token for the first time since Dec. 9, 2021. The coin’s intraday gains came as a part of a broader rebound move that saw its price rallying more than 75% eight days after bottoming out near $25.
ETC/USD daily price chart. Source: TradingView
Most of ETC’s course to the upside saw it tracking general crypto market trends. For instance, the Ethereum Classic token showed an extremely higher correlation with Bitcoin (BTC), the leading cryptocurrency by market cap, reaching 0.98 on multiple occasions.
A correlation coefficient reading of 1 between the two assets show that they move completely in lockstep.
ETC/USD versus BTC/USD correlation coefficient. Source: TradingView
But ETC’s 75%-plus gains in the last eight days largely outperformed BTC’s 15.5% returns in the same period. That may have to do with speculations about Ethereum Classic’s ability to attract miners from its rival, Ethereum.
In December 2020, Cardano founder Charles Hoskinson announced that his firm, IOHK, initiated the Mantis project to upgrade Ethereum Classic and support its community.
Last year, the cooperative noted that “Ethereum’s move to proof-of-stake and sharding may disrupt many in the community who prefer proof-of-work and a strong base-layer approach to blockchain security,” adding:
“This is where #EthereumClassic becomes a viable alternative for #Ethereum projects to migrate to.”
As ETC rallies in March, the hash rate has not risen to new all-time highs, suggesting that miners aren’t jumping over just yet. Nevertheless, social media has started to take up the miner exodus mantra, as shown in the tweets below.
ETC is rising because its tech. indicators turned bullish on 3/18. Also, $ETH will go #PoS in few months, hence #ETC stands to benefit from increased hashrate and security, as miners look for alternatives.
ETC’s price also surged in the run-up to its third block reward reduction, or “fifthening,” expected to arrive on April 15, 2022 at block 15,000,000.
In detail, the Ethereum Classic’s block rewards get cut periodically by 20% every five million blocks (roughly every 2.5 years), following the improvement proposal ECP-1017, launched in 2017.
The last of such events occurred on March 16, 2020, which followed up with ETC rising by more than 350% to date.
Technically, ETC appears oversold due to its daily relative strength index rising above 70, a sell signal. The ETC/USD pair now tests $44 as its interim resistance, a level with a history of acting as a strong support between July 2021 and December 2021.
ETC/USD daily price chart. Source: TradingView
As a result, ETC may correct towards its 200-day exponential moving average (200-day EMA) near $37 next. Conversely, a decisive move above $44 could have it eye $50 — a psychological resistance level — as its interim upside target.
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.
“The Market Report” with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts discuss which are the top coins to buy in a bear market.
But first, market expert Marcel Pechman carefully examines the Bitcoin (BTC) and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down.
Next up, the main event. Join Cointelegraph analysts Benton Yaun, Jordan Finneseth and Sam Bourgi as they debate which are the top coins to buy in a bear market. Going up first will be Bourgi, he’s decided to go with Monero (XMR), initially launched in 2014, it focuses on keeping your finances confidential and secure. His second pick is Flux (FLUX) which is a cloud based decentralized Web3 application and for his third pick he’s gone with Stacks (STX) which as of January was the #1 Web3 project on Bitcoin. Apps built on Stacks inherit all of Bitcoin’s advantages, marketability and network effects.
Yuan is next with his first pick of Dai (DAI), of course someone had to pick a stablecoin. It’s main advantage however is that it is a multicallateral stablecoin, which means there is more than one asset backing it. His next pick is Tomb.finance (TOMB) which is an algorithmic stablecoin that is pegged to the price of Fantom (FTM). His last pick for the week is The Sandbox (SAND) which has proven to be a massive player in the metaverse space with major partnerships with Adidas, Snoop Dogg, Atari to name a few. Seems like Yuan has done his homework, will it be enough to win your vote though?
Last but not the least we have Finneseth whose first pick is going to be Algorand (ALGO) which boasts fast transaction speed, low costs and a simplified staking experience and managed no major network outages or technical problems, quite the achievement. His second pick is DeFi Chain (DFI), a blockchain dedicated to fast, intelligent and transparent decentralized financial services, accessible by everyone with a total value locked (TVL) approaching $1 billion. His third and final pick of the week is The Graph (GRT) which has released modules designed to help companies easily create data graphs and get started with their Web3 experience. The competition is going to be tough this week so stick around till the end to cast your vote in the live poll and find out who comes out on top.
After the showdown, we’ve got insights from Cointelegraph Markets Pro, a platform for crypto traders who want to stay one step ahead of the market. The analysts use Cointelegraph Markets Pro to identify two altcoins that stood out this week: Biswap (BSW) and Origin Protocol (OGN) token.
Do you have a question about a coin or topic not covered here? Don’t worry. Join the YouTube chat room, and write your questions there. The person with the most interesting comment or question will be given a free month of Cointelegraph Markets Pro, worth $100.
The Market Report streams live every Tuesday at 12:00 pm ET (4:00 pm UTC), so be sure to head on over to Cointelegraph’s YouTube page and smash those like and subscribe buttons for all our future videos and updates.
Digital asset manager Grayscale Investments has unveiled a new cryptocurrency fund dedicated to smart contract platforms excluding Ethereum, underscoring growing investor appetite for alternative blockchain networks.
The Grayscale Smart Contract Platform Ex-Ethereum Fund, also known by the ticker symbol GSCPxE, is the company’s 18th investment product. The fund will provide exposure to seven smart contract platforms at the following weightings:
Grayscale said the new fund is now open for daily subscription by accredited investors.
Ethereum’s dominance as the premier smart contract platform is being challenged by competitors that claim to offer superior transaction speeds, lower costs and higher throughput capacity. While Ethereum continues to dominate the decentralized application space, the DeFi industry is becoming a more level playing field. Currently, Ethereum accounts for just over 55.4% of the total value locked on DeFi protocols, down from over 96% in January 2021, according to DeFi Llama.
Ethereum remains the largest DeFi platform by total value locked, but its dominance has eroded over the past year. Source: DeFi Llama
Grayscale is by far the world’s largest digital asset manager with over $36 billion in assets under management as of March 22. Assets under management reached north of $60 billion in November 2021 during the height of Bitcoin’s (BTC) record-breaking rally.
The Grayscale Bitcoin Trust, also known as GBTC, is the largest offering with over $26.4 billion in assets. As Cointelegraph reported, institutional investors have increased their exposure to GBTC in recent months as its discount to Bitcoin’s spot price widened.
The pair had already gained thanks to encouraging macro signs from China, but it was news from within that really set the pace on the day.
In a Twitter Spaces conversation with infamous Bitcoin pundit Udi Wertheimer, Do Kwon, co-founder of Blockchain protocol Terra, revealed that he planned to back his new TerraUSD (UST) stablecoin with BTC in addition to Terra’s LUNA token.
“Haven’t been following up with the exact numbers ’cause transactions we generally do this over OTC, but the current clip that we have to buy big coin is about $3 billion and will will add to that,” he told Wertheimer about Terra’s BTC acquisition plans.
“But out of that 3 billion, most of it we haven’t bought yet.”
Those comments set the market alight as word spread, as sleuths eyed $125 million in Tether (USDT), seemingly tied to Terra already on the move.
A $3 billion purchase would equate to around 69,850 BTC at current prices. That would make Terra a larger Bitcoin holder than every corporate investor except MicroStrategy, with its 125,051 BTC stash, data from monitoring resource Bitcoin Treasuries reveals.
“I said more than I shoulda,” Kwon conceded at the weekend after the conversation.
Reacting, meanwhile, Luke Martin, host of the WAGMI podcast, argued that the Terra’s was a “narrative worth paying attention to.”
>3 days ago @stablekwon shares plans to buy $3B in $BTC as a reserve asset in Udi’s twitter space >tweets “I said more than I shoulda” >traders notice the first $125million has been moved
The mood among Bitcoin traders was thus buoyant March 22, with all-out bullishness still hard to come by following months of relentless sideways price action.
“If Bitcoin can sustain those levels, it seems to me that we’re getting a period of some relief rallies across markets. Would be good,” Cointelegraph contributor Michaël van de Poppe concluded.
Fellow trader Anbessa, meanwhile, delivered the immediate outlook for BTC/USD based on a bullish or bearish next reaction.
The crypto ecosystem houses some devoted followers who got the logo of their favorite cryptocurrency etched on their skin for life.
According to the latest data from Crypto Head, more than 900 people worldwide have inked themselves with the Bitcoin (BTC) “B”, while Dogecoin (DOGE) tattoos and Ethereum (ETH) tattoos are on the rise.
The research analyzed “Instagram hashtags and Google search volumes,” revealing crypto tattoo searches have increased by 222%. Despite lackluster price action, more and more crypto enthusiasts seek to get inked with a crypto logo.
Anita Posch, a Bitcoin author and podcaster, has a lightning bolt tattooed on her forearm. She explained in a German language Bitcoin documentary called “Human B” that to people that don’t know, the tattoo “represents energy.” A recipient of a recent Human Rights Foundation grant distributed in Satoshis, Posch is a passionate advocate for the lightning network.
Anita Posch’ lightning tattoo on her right forearm. Souce: “Human B”, Youtube
While Dogecoin is deep outside the top five cryptocurrencies, it remains the second most popular cryptocurrency tattoo search with 700 average monthly searches. However, the Dogecoin hype of 2021 is clearly on the wane.
A huge peak in searches for Doge tattoo in early 2021 has since dropped off, (in red) despite Doge’ biggest fan, Elon Musk, continuing to popularize the currency.
Google trends for crypto tattoo searches. Source: Google
Plus, some of the Dogecoin tattoos on Instagram are a stretch from the logo of the original Shiba Inu dog.
Dogecoin tattoo. Source: Instagram
As for cryptocurrency tattoos, Ethereum’s logo of an octahedron, a diamond-shaped geometric figure is less inked with only 6 instagram posts. However, NFT tattoos–which were popularised on the Ethereum blockchain have been gaining in popularity.
During the peak for NFT tattoos in late 2021 –as shown on the Google Trends graph– one Lazy Lion NFT collector said that if the floor price for the Lazy Lions reached 2 ETH, they would tattoo themselves.
The action contrasted with the lack of volatility since the weekend, and neatly fitted with the more bullish predictions surrounding near-term trajectory.
For popular trader Crypto Ed, who had previously given $43,000 as a low-timeframe target, all was going to plan.
#BTC Been showing red box at $43k for a couple of days now….
Fellow analyst Matthew Hyland meanwhile eyed a potential breakout scenario for Bitcoin’s relative strength index (RSI) on the daily chart — a phenomenon which has often preceded price strength.
BTC/USD 1-day chart (Coinbase) with RSI. Source: Matthew Hyland/ Twitter
“BTC is a few hundred bucks away from the first higher high we’ve seen in a long time. Will it happen?” crypto market analyst Kevin Svenson added.
Bitcoin had already sealed an impressive weekly close Sunday, its highest since early February, and now, macro cues were adding to the positive momentum once again.
Trading was brisk for Asian markets on the day, the Hong Kong Hang Seng index up 3.15% at the time of writing.
In Europe, however, there was little sign of a knock-on impact, while U.S. futures were likewise trending down prior to the Wall Street open.
The push higher nonetheless did manage to squeeze out some short positions across cryptocurrency, as evidenced by data from on-chain monitoring resource Coinglass.
Total 24-hour liquidations stood at $168 million at the time of writing.
Crypto liquidations chart. Source: Coinglass
Ethereum returns to $3,000 in altcoin copycat rally
On altcoins, the picture likewise turned more rosy overnight.
Other major tokens fared almost as well, including Polkadot (DOT) and XRP.
Ether (ETH), the largest altcoin, tapped $3,000 in step with Bitcoin’s rally before consolidating immediately under that psychologically significant level.
