Author: The Daily Hodl

A widely followed crypto analyst known for making timely altcoin predictions is turning bullish on memecoins. Pseudonymous trader Bluntz tells his 276,300 followers on the social media platform X that multiple meme tokens are witnessing big breakouts, leading him to believe that memecoin season is here. One altcoin on his radar is the Solana (SOL)-based memecoin Bonk (BONK). “BONK is in my Noah’s ark portfolio, nice channel breakout today as well. Things are about to get silly with memecoins again, in my opinion.”  Looking at the trader’s chart, he seems to predict that BONK will surge to $0.000045. At time…

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Cryptocurrency analyst Kevin Svenson believes Bitcoin (BTC) and altcoins will witness big upside bursts for the rest of the year. In a new video, Svenson tells his 79,800 YouTube subscribers that Bitcoin and altcoins are poised for more gains over the coming weeks and months. According to Svenson, the altcoin market cap appears to be repeating a pattern witnessed in the last cycle, when it took 157 weeks before igniting a massive breakout rally. “The altcoin market cap has been consolidating for the entire year. In the beginning of 2024, the altcoins had a huge run into March, gave up…

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The native token of the synthetic dollar protocol developer Ethena (ENA) surged by more than 45% this week as the project rolled out multiple new products. Ethena aims to provide a crypto-native solution for money not reliant on traditional banking system infrastructure via a synthetic dollar called USDe. The protocol also offers a dollar-denominated savings instrument called “the Internet Bond.” ENA is trading at 0.361 at time of writing, up from around $0.248 one week ago. The 115th-ranked crypto asset by market cap is also up more than 14% in the past 24 hours. On Tuesday, Ethena announced that its partnership with the…

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Top US-based crypto exchange Coinbase is teasing its new wrapped version of Bitcoin (BTC) to Ethereum (ETH) layer-2 scaling solution Arbitrum (ARB). In a new announcement on the social media platform X, Coinbase Assets tells its audience that Coinbase Wrapped Bitcoin (cbBTC) is “coming soon” to the smart contract platform Arbitrum. Earlier this month, Coinbase announced the launch of cbBTC, a token that would allow holders of the crypto king to access decentralized finance (DeFi) protocols over the Ethereum and Base blockchains. At the time, Coinbase said cbBTC would be compatible with several prominent DeFi platforms, including Aave (AAVE), Curve…

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A slew of metrics indicate the top meme asset Dogecoin (DOGE) could be primed for a price boost, according to a popular crypto trader. The analyst Ali Martinez tells his 72,500 followers on the social media platform X that DOGE recently broke out of multi-month downtrends in terms of its price and Relative Strength Index (RSI). The RSI indicator is a momentum oscillator used to determine whether an asset is oversold or overbought. The RSI’s values range from zero to 100 with the level between 70 to 100 indicating that an asset is overbought while the zero to 30 level…

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A widely followed crypto analyst says that one dog-themed memecoin that has printed six-figure gains in just ten months is on the brink of another breakout. In a new strategy session, crypto trader Rekt Capital tells his 501,600 followers on the social media platform X Dogecoin (DOGE) rival dogwifhat (WIF) looks ready to skyrocket once again. “WIF – Dogwifhat has broken its macro downtrend. WIF is on the cusp of beginning a new macro uptrend.” WIF is trading for $2.35 at time of writing, a staggering 151,512% gain since its low of $0.00155 in December 2023 and a 5% gain…

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Real Vision analyst Jamie Coutts believes that the crypto market could finish out the year with strong rallies. Coutts says that the TOTAL3 chart on the weekly timeframe appears to be breaking out of a descending trend line and printing a bull reversal pattern. The TOTAL3 chart tracks the market capitalization of all crypto assets excluding Bitcoin (BTC), Ethereum (ETH) and stablecoins. “Zoom out on the weekly log chart: Total market cap excluding BTC and ETH, aka ‘Alts,’ are breaking out. Total market cap excluding BTC and ETH/Total market cap is basing. Crypto Q4 could get wild.” Looking at his…

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Retail trading platform Robinhood and digital banking app Revolut are reportedly looking at the possibility of issuing their own stablecoins. Citing people familiar with the matter, Bloomberg reports that the two financial technology giants are considering joining the $170 billion stablecoin market. A Robinhood spokesperson tells Bloomberg the company does not have imminent plans to launch the offering. A Revolut spokesperson says the plan is to grow the company’s crypto product suite, but they did not explicitly mention a future stablecoin. The report comes as stricter regulations in Europe threaten to weaken USDT issuer Tether’s dominance in the stablecoin sector.…

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Economist Henrik Zeberg believes that one Solana (SOL)-based memecoin could soon go on a parabolic rally. Zeberg tells his 155,400 followers on the social media platform X that dogwifhat (WIF) may soar more than 913% from its current value after breaking out from a period of consolidation. “WIF could be at $15-$22 in a matter of weeks.” The analyst uses the Elliott Wave Theory to suggest WIF’s explosive price action in the near term. The Elliott Wave Theory is a type of technical analysis that examines wave patterns based on the repetitive behavior of market participants. According to Elliott Wave…

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A widely followed trader is leaning bullish on a mid-cap Real World Asset (RWA) token while offering his insight on three other altcoins. The trader pseudonymously known as Sherpa tells his 223,600 followers on the social media platform X that the native token of the RWA blockchain MANTRA (OM) could go up by around 16% from the current level to hit a new all-time high. “Still one of the better RWA options out there and has high float/less supply overhang and lots of financial backing behind it.” OM is trading at $1.22 time of writing. Next up is Solana (SOL).…

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