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Из жизни альткоинов

Эрик Балчунас: В Канаде начинаются торги акциями спотовых Solana-ETF

bits.media/ - Tue, 04/15/2025 - 12:36
Старший аналитик Bloomberg Intelligence заявил, что с 16 апреля на фондовом рынке Канады начнут торговаться акции (паи) нескольких спотовых Solana-ETF.

Google’s New EU Crypto Ad Policy: Only MiCA-Licensed Platforms Need Apply

bitcoinist.com - Tue, 04/15/2025 - 12:30

Google is set to impose stricter regulations on crypto advertising across Europe, beginning April 23. Under the new guidelines, only cryptocurrency exchanges and wallet applications that possess a license under the European Union’s Markets in Crypto-Assets (MiCA) framework will be permitted to run ads on Google’s platforms. 

Google Tightens Crypto Advertising Rules

Recent reports suggest that as part of this initiative, any crypto firm that is not fully registered under MiCA or does not complete Google’s own certification process will find its advertising capabilities severely restricted. 

This marks a substantial tightening of Google’s advertising policies, which will now require compliance with both MiCA regulations and Google’s internal standards to maintain advertising access across all 27 European Union member states.

Google’s approach includes a grace period for non-compliant advertisers. Instead of enforcing an immediate ban, the company will provide warnings at least seven days prior to any suspension of advertising privileges. 

This temporary reprieve may allow some firms to adjust and achieve compliance in time, but the new requirements clearly signal a higher bar for entry into the advertising market.

Currently, there is a short-term exemption for platforms that are already operating under national licenses in countries such as France, Germany, and Finland. These licenses will remain valid until the transition period to MiCA concludes, which is expected to occur between mid and late 2025. 

However, the long-term landscape indicates that the days of navigating compliance through various national regulations are numbered, as MiCA seeks to standardize crypto asset regulations across the EU.

Wall Street Optimistic On Google Stock

Several cryptocurrency exchanges, including OKX, Crypto.com, Bitpanda, Boerse Stuttgart Digital, eToro, and MoonPay, have already secured their MiCA licenses, positioning themselves favorably under the new regulatory framework. 

However, smaller firms may face significant challenges in meeting these new compliance standards, potentially limiting their advertising reach.

In the broader context, Google’s parent company, Alphabet, is becoming increasingly integrated into the cryptocurrency sector. The company’s stock has experienced a notable rise, up over 12% year-to-date, buoyed by strong performance in artificial intelligence and advertising revenues. 

Additionally, Google Cloud’s partnership with Coinbase has opened avenues for Web3 services, while the company has also invested in blockchain startups like Fireblocks and Dapper Labs.

Market analysts suggest that this strategic pivot may help Alphabet avoid future regulatory scrutiny, despite concerns that limiting advertising could impact short-term revenue from smaller exchanges. 

Nevertheless, Wall Street remains optimistic about Google’s stock. Of the 37 analysts covering GOOGL, 27 recommend a Buy, while 10 suggest holding the stock. The average price target for GOOGL stands at $204.09 per share, indicating a potential upside of 29% from its current trading price.

Featured image from DALL-E, chart from TradingView.com 

В Южной Корее заблокировали доступ к нежелательным криптоприложениям из Apple Store

bits.media/ - Tue, 04/15/2025 - 12:20
Комиссия по финансовым услугам Южной Кореи (FSC) добилась удаления из магазина Apple Store для внутреннего рынка страны криптовалютных приложений, дающих доступ к услугам «незарегистрированных» иностранных поставщиков.

Криптобиржи Binance и KuCoin столкнулись с проблемами в обработке транзакций

bits.media/ - Tue, 04/15/2025 - 12:19
Криптовалютные биржи Binance и KuCoin столкнулась с техническими проблемами, вызвавшими перебои в работе некоторых сервисов.

Японская компания Metaplanet докупила биткоины на $26,3 млн

bits.media/ - Tue, 04/15/2025 - 12:02
Японская инвестиционная компания Metaplanet приобрела 319 биткоинов по средней цене $82 549 за монету.

В США майнеров биткоина обвинили в масштабном загрязнении воздуха

bits.media/ - Tue, 04/15/2025 - 11:55
Согласно результатам исследования, опубликованным в журнале Nature Communications, 1,9 млн американцев подверглись воздействию мелкодисперсных частиц в атмосфере, появившихся в результате деятельности компаний, занимающихся майнингом биткоина.

Президент 21Shares Дункан Мойр: Инвесторы любят биткоин и Dogecoin

bits.media/ - Tue, 04/15/2025 - 11:29
Президент компании 21Shares Дункан Мойр (Duncan Moir) рассказал, что инвесторы по-прежнему считают криптовалюты BTC и DOGE хорошим способом разнообразить свой портфель.

Виталик Бутерин: «Конфиденциальность — это гарантия децентрализации»

bits.media/ - Tue, 04/15/2025 - 11:05
Сооснователь Эфириума Виталик Бутерин заявил, что для разработчиков главным приоритетом должна стать конфиденциальность, а идеи о прозрачности ради благих намерений выглядят слишком оптимистично.

Регулятор Абу-Даби оштрафовал криптокомпанию Hayvn на $12 млн

bits.media/ - Tue, 04/15/2025 - 10:40
Управление по регулированию финансовых услуг Абу-Даби (FSRA) оштрафовало криптофирму Hayvn и ее гендиректора Кристофера Флиноса (Christopher Flinos) на $12 млн за нарушения правил борьбы с отмыванием денег (AML) и нелицензированный бизнес.

Аргентина тестирует новый порядок токенизации ценных бумаг

bits.media/ - Tue, 04/15/2025 - 10:15
Комиссия по ценным бумагам Аргентины (CNV) приступила к тестированию нового режима токенизации активов фондового рынка, таких как акции, облигации, паи закрытых инвестфондов, долговые бумаги и активы с двойным листингом.

Kraken запускает торговлю акциями и криптовалютными ETF для пользователей из США

bits.media/ - Tue, 04/15/2025 - 09:50
Криптовалютная биржа Kraken, занимающая 13-е место по объему торгов среди централизованных платформ, запустила торговлю акциями и криптовалютными биржевыми фондами (ETF), котирующимися на биржах США.

SEC Delays Decision On Staking For Grayscale’s Ethereum ETFs

bitcoinist.com - Tue, 04/15/2025 - 09:30

The US Securities and Exchange Commission (SEC) has announced a delay in its decision regarding the approval of staking for Ethereum ETFs from asset manager Grayscale. This setback comes as the SEC awaits the confirmation of pro-crypto commissioner Paul Atkins, whose appointment has yet to be finalized.

SEC Postpones Staking Approval On Ethereum ETFs

On February 14, 2025, NYSE Arca, Inc. submitted a proposed rule change to the SEC, seeking to amend the listing and trading rules for Grayscale’s Ethereum Trust ETF and Grayscale Ethereum Mini Trust ETF to allow staking. 

The proposal was published for public comment on March 3, 2025. Under the Securities Exchange Act of 1934, the SEC is required to act on such proposals within 45 days, although it can extend this period for good cause. 

The original deadline for the SEC’s decision was April 17, 2025, but the Commission has now extended this timeframe to June 1, 2025, to allow for a thorough evaluation of the proposal.

In a parallel move, Fox journalist Eleanor Terret reported that the SEC is also delaying its decision on whether to permit WisdomTree and VanEck to conduct in-kind creations and redemptions for their Bitcoin and Ethereum spot ETFs until June 3, 2025. 

As reported by Terret, the in-kind process allows for direct exchanges of the underlying assets—Bitcoin and Ethereum—rather than converting them into cash, which was previously mandated by the SEC under Gary Gensler’s leadership. 

New Era For Crypto?

Atkins’ delayed arrival at the SEC is partly due to procedural steps that require President Trump’s approval and a formal swearing-in. While this sign-off is expected to occur soon, it has left the agency in a state of transition, with implications for the future of crypto regulation.

However, this shift in regulatory approach signals a potential turning point for the cryptocurrency industry. Under Gensler’s tenure, the SEC was criticized for its stringent, enforcement-heavy stance towards cryptocurrency, which stifled innovation and created uncertainty for many market participants. 

Conversely, the anticipated arrival of Atkins, known for his pro-crypto perspective, may herald a new era of more favorable regulatory conditions.

Atkins’ position could pave the way for the approval of numerous altcoin ETFs filed by various asset managers, aimed at providing broader exposure to cryptocurrencies like XRP, Cardano, and Solana. 

ETH, the second largest cryptocurrency on the market, is trading at $1,630 on Monday, up 6% on a weekly basis. On longer time frames, the token is still down 15% after the sell-off in February and March that saw the price of ETH drop towards $1,380.

Featured image from DALL-E, chart from TradingView.com 

21 апреля в Москве состоится митап DeFrens & Sber ComUnity: DeFi & CeFi

bits.media/ - Tue, 04/15/2025 - 09:25
21 апреля в Москве состоится сайд-ивент Blockchain Week 2025 — DeFrens & Sber ComUnity: DeFi & CeFi. Митап для фаундеров и разработчиков посвящен финансовому рынку технологий блокчейна.

Here’s What Binance Bitcoin Whales Are Doing Amid Market FUD

bitcoinist.com - Tue, 04/15/2025 - 07:30

The tariff news cycle has unleashed a wave of FUD on the Bitcoin market. Here’s how the whales on the largest exchange have been reacting to it.

Bitcoin Exchange Inflows Have Been Dropping On Binance Recently

In a CryptoQuant Quicktake post, an analyst has talked about how the Bitcoin Binance whales have been behaving recently. The first indicator shared by the quant is the Exchange Whale Ratio, which measures the ratio between the sum of the top 10 deposits and the total exchange inflow for any given platform.

The ten largest transfers to an exchange generally correspond to the activity of the whales. Thus, the Exchange Whale Ratio tells us about how the whale inflow activity compares against that of the entire platform.

As the below chart shows the 365-day exponential moving average (EMA) of the Bitcoin Exchange Whale Ratio for Binance has been climbing up throughout this cycle, meaning that the whales have been making up for an increasingly larger share of the deposits to the exchange.

Generally, investors deposit their coins to exchanges when they want to sell, so the Exchange Whale Ratio having a large value can suggest whales are making up for a big part of the selling activity on the platform.

The 365-day EMA of the Binance Exchange Whale Ratio has continued to rise recently, implying the bigger picture continues to be that the whales on the largest cryptocurrency exchange are still ramping up their selling pressure.

In the short-term view (30-day EMA), however, whales have been losing inflow dominance. It’s possible that this is only a temporary deviation and the trend would go back to that of an increase soon, but in the scenario that it’s truly an early sign of a trend shift, then Bitcoin could see a bullish effect from this.

The Exchange Whale Ratio only measures what part of the total inflows the whales make up for. Here is another metric that shows the size of the whale exchange inflows themselves:

As displayed in the above graph, the 30-day sum of the Binance Whale to Exchange Flow measured at around $8.5 billion during last year’s peak. Today, the metric has come down to just $4.9 billion.

Thus, it would seem that the whales have significantly lowered their deposit activity during the last few months. The trend is interesting, given that the market has been going through a phase of a panic recently owing to all the news related to the tariffs.

“In conclusion, during this complicated period, it appears that Binance whales are not panicking,” notes the analyst.

BTC Price

Following a recovery surge of over 7% during the past week, Bitcoin has returned back above the $85,000 level.

Weekly Crypto Fund Report Shows $795M in Outflows Amid Tariff Concerns

bitcoinist.com - Tue, 04/15/2025 - 06:00

The latest fund flows report from CoinShares reveals sustained outflows from crypto asset investment products, signaling continued caution from investors amid global economic pressures.

According to the firm’s data, last week marked the third consecutive week of outflows, totaling $795 million across various crypto-related funds. These withdrawals come amid the recent tariff disputes, notably driven by recent US policy shifts, dampen sentiment across financial markets.

Bitcoin Dominates Outflows While Altcoins See Mixed Activity

The report reveals that Bitcoin experienced the most significant outflows last week, with $751 million withdrawn from related investment products. Despite this, the asset still holds a positive net inflow year-to-date of $545 million.

CoinShares further reported that the outflows were broadly distributed across different countries and asset managers, highighting the global nature of investor caution. Even short-Bitcoin products, which typically benefit from bearish sentiment, recorded outflows totaling $4.6 million.

Ethereum followed with $37.6 million in outflows, reflecting the second-largest withdrawal among digital assets for the week. Other notable altcoins also saw moderate outflows, including Solana ($5.1 million), Aave ($780,000), and Sui ($580,000).

In contrast, a few smaller assets recorded slight inflows, suggesting some investors may be diversifying amid broader declines. XRP led the gains among altcoins with $3.5 million in inflows, followed by Ondo, Algorand, and Avalanche with inflows under $500,000 each.

Recorded Rebound As Prices Rise

CoinShares’ head of research, James Butterfill, noted that the negative trend, which began in early February, has led to a cumulative $7.2 billion in outflows, effectively wiping out nearly all the year-to-date inflows. As of now, net inflows for 2025 stand at only $165 million.

However, a brief recovery in asset prices toward the end of last week helped stabilize the total assets under management (AuM), which rose 8% from their lowest point on April 8 to $130 billion.

This turnaround follows President Trump’s recent pause on tariffs, a move that contributed to broader market optimism in the latter part of the week.

So far, Bitcoin has now seen roughly 10% surge in the past week alone as its price currently hovers above $84,000—a slight retracement from the $85,315 24-hour high seen earlier today.

Interestingly, Ethereum wasn’t left behind this time in the surge. Over the same period, Ethereum has also increased by nearly 10% with its price currently trading at a price of $1,660, at the time of writing, marking a 4.3% uptick in the past day.

XRP, Solana and other altcoins has also seen their share of a significant increase with XRP soaring by 19.1% in the past 7 days and Solana increasing by 29.8% in the same period.

Featured image created with DALL-E, Chart from TradingView

Bitcoin Demand Rebounding, But Quant Says Don’t Call It A Reversal Just Yet

bitcoinist.com - Tue, 04/15/2025 - 04:30

On-chain data shows the Bitcoin Apparent Demand metric has been recovering recently, but a trend of reversal hasn’t been confirmed yet.

Bitcoin Apparent Demand Rising, But Still Remains Negative

In a CryptoQuant Quicktake post, an analyst has talked about the latest trend in the Apparent Demand of Bitcoin. The “Apparent Demand” here refers to an on-chain indicator that measures, as its name suggests, the demand of BTC by comparing its production and inventory change.

The only way to ‘mint’ more of the cryptocurrency is by solving blocks on the network and receiving block subsidy as compensation, so the production of the asset is equated to the amount that the miners are receiving in rewards every day, formally known as the issuance.

For gauging the inventory of BTC, the 1-year+ dormant supply is used. The change in the inventory, therefore, would be the changes happening in this part of the cryptocurrency’s supply.

When the value of the Apparent Demand is positive, it means BTC’s inventory is seeing a larger decrease than its production. This kind of trend signals that there is demand present for the asset that’s pulling coins out of the inventory. On the other hand, the metric being under zero suggests coins are being stashed away in the inventory, potentially because of low demand.

Now, here is a chart that shows the trend in the 30-day sum of the Bitcoin Apparent Demand over the past year:

As displayed in the above graph, the Bitcoin Apparent Demand rose to sharp positive levels during the last couple of months of 2024, signaling strong demand, but this year, the trend has noted a shift.

During January and February, demand waned, but still remained at positive levels. This changed in March, when it took a dive into negative territory. This month, the metric appears to have undergone another change in direction as it’s now on the rise again.

While this could be an early sign that there is a shift occurring in market behavior, the quant has warned, “interpreting this as the beginning of a new bullish phase may be premature.”

Something that could add credence to the idea that this may not be a shift away from a bearish trajectory at all is the trend followed back in the 2021 cycle.

From the chart, it’s visible that the Bitcoin Apparent Demand turned negative as the 2021 bull market topped out. After forming a bottom in January 2022, though, the indicator showed a reversal and by the middle of the year, it recovered all the way back into the positive zone.

But clearly, while the metric may have displayed this trend, the cryptocurrency was still in the clutches of a bear market, which was only pulling its price deeper. “So while this current bounce is noteworthy, it’s more likely a pause in pressure, not a definitive signal of accumulation or a macro bottom,” notes the analyst.

BTC Price

Unlike the earlier rebounds, the latest Bitcoin recovery has shown staying power so far as the coin’s price is still floating around $85,000.

XRP Supporter Kitao Tapped For Fuji Holdings Board

bitcoinist.com - Tue, 04/15/2025 - 03:00

Yoshitaka Kitao—well known for his enduring support of Ripple and its digital asset XRP—has been named by Dalton Investments as a candidate for the board of directors at Fuji Media Holdings, Japan’s largest media conglomerate. The proposal, first reported by Nikkei, surfaced amid ongoing efforts by the US-based activist investor to address what it deems as governance shortcomings at Fuji Media. “The activist investor, which holds a significant stake in the media giant, has previously voiced dissatisfaction with the company’s governance,” the Nikkei report notes.

XRP Supporter Kitao Joins Fuji Media

Kitao’s deep-rooted connections to Ripple can be traced back several years through SBI Holdings, the financial services powerhouse he helms as Chairman & President. Under Kitao’s guidance, SBI became a strategic partner of the San Francisco-headquartered blockchain firm, launching initiatives such as SBI Ripple Asia to spearhead the adoption of XRP across the Japanese banking sector.

Over the past years, Kitao often championed XRP’s capacity for “cutting-edge cross-border remittances,” once describing Ripple’s technology as “the next standard for international money transfers.”

In 2019, he formalized his commitment to Ripple by accepting a position on its board of directors—an appointment that underscored his alignment with the firm’s ambition to modernize global payment rails. Though he stepped away from that directorship after two years, his advocacy for XRP endured. One of his recent social media posts emphasized the significance of RLUSD.

Fuji Media Holdings, meanwhile, has found itself in a precarious position after a string of governance controversies. Earlier this year, it orchestrated a sweeping executive overhaul meant to restore shareholder confidence and stabilize its operations. Chairman Shuji Kanoh departed the company, followed closely by the resignation of Fuji TV head Koichi Minato.

The board subsequently reduced its membership to 10 directors, a move widely interpreted as a bid to tighten oversight and accountability. Hisashi Hieda, the conglomerate’s 87-year-old director, stepped down in March, adding to the sense of a thorough housecleaning at one of Japan’s most influential media giants.

The Fuji Media empire, best known for its flagship Fuji TV network, holds a commanding presence in Japan’s entertainment sector through the production of dramas, variety shows, anime, and an array of digital media offerings. Its content enjoys near-ubiquitous recognition among Japanese audiences.

Unlike Fujifilm, the camera and imaging firm that shares a similar name but operates a completely different business, Fuji Media has carved out a unique place in broadcasting and streaming platforms, contributing substantially to Japan’s cultural narrative.

Against this backdrop, Dalton Investments’ push to see Kitao join the board has opened up questions about whether the seasoned financier’s fintech and XRP insights might steer Fuji Media toward new forms of innovation—or at least provide it with a measure of stability at a time when media companies are under increasing pressure to diversify revenue streams.

At press time, XRP traded at $2.15.

Dogecoin Developer Sends Scam Alert To Community, Here’s The 411

bitcoinist.com - Tue, 04/15/2025 - 01:30

Recently, a Dogecoin developer flagged a new scam attempt, alerting the community to the rise of suspicious token promotions. Despite the decentralized nature of the crypto space, there has been growing scam activity, especially involving speculative assets like Dogecoin (DOGE). 

Dogecoin Developer Cautions Against New Scam

A pseudonymous Dogecoin developer known as ‘inevitable360’ has taken to X (formerly Twitter) to announce the rise of a new scam within the DOGE community. He issued a clear warning to community members about suspicious token promotions that are attempting to associate themselves with the Dogecoin brand and mission.

According to inevitable360, any digital asset promoted as a token rather than a cryptocurrency like Dogecoin and Bitcoin should be treated as a potential scheme. He emphasized the distinction between tokens and established cryptocurrencies, pointing out that DOGE and Bitcoin are backed by their independent blockchains, which gives them legitimacy. 

Given DOGE’s strong reputation as the number one meme coin, the developer expressed major concern over these suspicious token promotions that invoke DOGE’s name or community spirit. One particular example noted in his warnings is “Dogevan,” a new project that some members of the Dogecoin community have recently begun marketing. 

Notably, inevitable360 stopped short of revealing detailed specifics about the project’s structure or its backers. Nonetheless, he advised community members to exercise caution and avoid assuming that such projects have any official endorsement or legitimate connection to Dogecoin. 

The primary concern with this new scam is that some individuals may leverage DOGE, which is known for its popularity, strong community and philanthropic reputation, to gain traction or funding for unrelated and potentially deceptive token schemes. Reinforcing his point, inevitable360 emphasized that genuine charitable intent does not require the creation or promotion of a token.

The developer’s scam alert serves as a reminder for the DOGE community to stay vigilant, verify all suspicious claims, and avoid supporting projects without proper backing or technical foundations.   

DOGE Price Gears Up For Bullish Turnaround 

Amidst the rising scam activities in the Dogecoin community, its price continues to decline, struggling to record any significant gains and drive its value to previous highs. Although the meme coin remains in a downtrend, with its price currently trading at $0.16, crypto analyst Javon Marks has predicted a potential 200% to 300% surge to a target above $0.73 for the meme coin. 

According to Marks, DOGE could be getting ready for another “magical bullish performance” to reach new all-time highs. The analyst presented a distinct chart showing a historical price analysis of Dogecoin with a repeating Falling Wedge pattern

In each case, the price compresses within the Falling Wedge before breaking upwards and executing a strong rally. Dogecoin’s current Falling Wedge has already broken out after forming a Bull Flag. This suggests that the meme coin may be preparing for a strong move upward, similar to past cycles.

Metaplanet Ramps Up Bitcoin Exposure With Latest 319 BTC Buy

bitcoinist.com - Tue, 04/15/2025 - 00:00

In an announcement made earlier today, Japanese firm Metaplanet revealed it has acquired another 319 Bitcoin (BTC), pushing its total corporate holdings beyond 4,500 BTC. The announcement comes at a time when the global crypto market continues to struggle amidst the escalating tariff wars.

Metaplanet Scoops Another 319 Bitcoin

Corporate adoption of Bitcoin continues to rise as Tokyo-listed public firm Metaplanet disclosed the addition of 319 BTC to its treasury. The digital asset was acquired at an average price of $83,147 per coin.

With this latest purchase, Metaplanet’s total BTC holdings now stand at 4,525 BTC, with an average cost basis of $90,194 per coin. The move also propels the company into the ninth spot among publicly listed companies with the largest BTC reserves.

This acquisition is part of Metaplanet’s broader Bitcoin Treasury Operations strategy, launched in December 2024. The initiative aims to enhance shareholder value by increasing the company’s exposure to Bitcoin – the world’s largest cryptocurrency by market cap.

Notably, Metplanet gauges the success of its BTC acquisition strategy through Bitcoin Yield – a key-performance indicator (KPI) – that reflects the percentage change in the ratio of total BTC holdings to fully diluted outstanding shares over a given period of time. The company notes:

From October 1, 2024 to December 31, 2024, the company’s BTC Yield was 309.8%. From January 1, 2025 to March 31, 2025, the company achieved a BTC Yield of 95.6%. Quarter to Date, from April 1, 2025 to April 14, 2025, the company’s BTC Yield is 6.5%.

In addition, Metaplanet shared its BTC Gain metric – defined as total BTC holdings at the beginning of a period, multiplied by the achieved BTC Yield for that period. This figure estimates how much BTC the company would have gained assuming no new share issuance. From April 1 to April 14, Metaplanet’s BTC Gain stood at 263, down from 1,684 for Q1 2025.

Following the announcement, Metaplanet’s stock surged over 3.5%. As of writing, its shares were trading at 363 yen – approximately $2.53. Over the past year, the company’s share price has skyrocketed by an impressive 967.7%.

Will Strategy Be Forced To Sell BTC?

While Metaplanet continues its aggressive BTC accumulation, speculation surrounds whether Michael Saylor’s company, Strategy – the largest corporate BTC holder – might be forced to sell some of its Bitcoin to meet debt obligations.

According to a recent filing with the US Securities and Exchange Commission (SEC), Strategy may report an unrealized loss of nearly $6 billion for Q1 2025. If BTC’s price continues to decline, the company’s ability to service its debt could come under increasing scrutiny.

That said, broader confidence in Bitcoin as a store of value appears to be growing. The Blockchain Group recently added 850 BTC as part of its own treasury strategy. At press time, BTC trades at $85,028, up 0.8% in the past 24 hours.

PEPE Price Targets 100% Jump After Bounce From Major Support Level

bitcoinist.com - Mon, 04/14/2025 - 21:00

PEPE has staged a sharp rebound from a major support level, causing bullish speculation about a potential 100% rally. The crypto token is currently showing signs of renewed upward momentum after holding above the $0.00000567 support zone that has previously acted as a price floor on the daily candlestick timeframe chart. Particularly, technical analysis suggests that PEPE is about to go on a 100% price bounce from the support level.

Technical Structure Points To Bullish Continuation For PEPE

PEPE’s price action has been steady since the beginning of the year, extending a correction run after it reached a peak price of $0.00002803 on December 9, 2024. The extended decline and accompanying selling pressure saw the PEPE price clean out most of its gains in Q4 2024 until it reached a low of $0.00000525 in early March, which has served as a horizontal support level.

The latest chart setup reflects another clean bounce from this horizontal support in the past few days. According to a technical analysis posted on TradingView, the bullish scenario is now developing, especially after the price reclaimed the $0.00000710 level. This move not only confirms strength at the base but also opens the door to a potential breakout targeting $0.00001447. However, there is still a resistance level to watch out for around $0.000009, where a brief rally was rejected in late March.

The analyst behind the post highlighted a simple risk-managed setup: a long entry above $0.00000710, a stop loss below $0.00000567, and a target that essentially doubles the current price. The broad structure resembles a breakout-ready consolidation, where prior lows have held firm and the latest candles are pushing toward the neckline of a range-bound zone.

Momentum Building Steadily In Broader Crypto Market

At the time of writing, PEPE is trading at $0.0000074, and a run to the price target at $0.00001447 would represent a 95% return for bullish traders who get in at the current price. Interestingly, this bullish outlook is the first in a while, as the PEPE price has been mostly highlighted with bearish analyses in the past two weeks. One analyst even highlighted a potential crash towards $0.0000055 if PEPE were to lose a support level at $0.0000065. This has since come to pass, and the meme coin has finally found a strong bounce at this point.

The current sentiment in the crypto market appears constructive, with most cryptocurrencies starting to see gains after a crazy few weeks. This constructive sentiment is led by Bitcoin, which has now returned to trading around $85,000. The price action looks positive, and steady inflows could cause the meme coin to ride the bounce towards $0.00001447 before the end of April.

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