bitcoinist.com

Barstool Sports founder and social media personality Dave Portnoy has doubled down on his crypto investments, revealing during a livestream on February 3 that he purchased an additional $1 million worth of XRP.

Why XRP?

Portnoy, known for his unapologetic approach to trading and gambling, made the announcement as he discussed Monday’s market’s downturn. “Okay, here’s my announcement. I just bought another million of XRP,” he said.

This isn’t the first time Portnoy has made waves with a high-stakes crypto investment. In mid-December 2024, he disclosed on a livestream that he had already accumulated $1.3 million worth of XRP, alongside $1.5 million in Bitcoin.

During that livestream, Portnoy expressed his frustration with missing out on early rallies but maintained his commitment to long-term holds rather than active trading. “I know XRP is up over 400%… I’m always late to these runs. I’m just gonna bet it and set it. I’m not trading, I’m just gonna hold it.”

His investment philosophy appears to lean toward high-risk, high-reward plays, with XRP being his chosen asset for outsized gains. “As a gambler myself, I want the 10X coin like XRP. Bitcoin won’t do that anytime soon.”

Portnoy’s first purchase coincided with the launch of RLUSD (Ripple USD), a stablecoin aimed at enhancing liquidity within the ecosystem. Acknowledging the growing excitement around RLUSD, Portnoy highlighted XRP’s speculative potential.

Ripple’s legal battle with the SEC has been a crucial factor contributing to the price surge in the past months. Many traders, including Portnoy, see the asset as a high-risk, high-reward bet due to the ongoing regulatory developments, potentially an end to the case under the new SEC chairman Paul Atkins.

Portnoy’s latest $1 million acquisition came amid Monday’s market pullback, with Bitcoin and altcoins experiencing a sharp drop followed by steep recovery rallies. The altcoin saw a sharp decline after a multi-month surge, but printed a highly bullish daily candle with a 32% wick.

The downturn can be attributed to the market’s reaction to President Donald Trump’s implementation of tariffs on imports from Mexico and Canada. The announcement of these tariffs, which included a 25% tariff on goods from both nations and a 10% tariff on Canadian energy and oil, sent shockwaves through the entire financial market.

This drop was part of a broader crypto market correction, with Bitcoin also falling as low as $91,200, and other altcoins like Ethereum and Dogecoin seeing double-digit plunges. The crypto market faced over $2 billion in liquidations, highlighting the panic and uncertainty these tariffs introduced into the market. However, the reversal was quick when Trump announced the first deal with Mexico.

At press time, XRP traded at $2.66.

Shiba Inu whales are back in action, initiating massive transactions worth millions of dollars. Recently, on-chain data revealed that Shiba Inu whales had moved a staggering 15.1 trillion SHIB tokens in just one day. This significant SHIB transfer comes amid its market crash to new lows. With the increased whale activity, the question arises of whether these large-scale investors are preparing for a potential surge in the price of SHIB.   

Shiba Inu Whales Make Big Moves With 15 Trillion SHIB Transfer

IntoTheBlock’s data reveals that large-scale SHIB holders, commonly referred to as Shiba Inu whales, have executed another massive transaction. In the last 24 hours, Shiba Inu whales moved a staggering 15.1 trillion SHIB tokens, valued at approximately $253.05 million. 

This large-scale SHIB transaction has caught the market’s attention, as whale movements often influence market sentiment and impact price trajectories. On February 2, Shiba Inu Whales transferred a whopping 4.3 trillion SHIB tokens, valued at $66.22 million. This transaction marked a significant increase of more than 2.8 trillion SHIB compared to their previous transaction of 1.5 trillion SHIB recorded on February 1.

However, it appears that the activity of Shiba Inu whales has intensified even further. These large-scale token holders executed a recent 15.1 trillion SHIB transfer, representing an astonishing increase of 10.8 trillion from the previous day’s transfer of 4.3 trillion. 

Interestingly, this increase in whale transactions comes as the market experiences a significant crash. Following United States (US) President Donald Trump’s trade war with China, Mexico, and Canada, the crypto market has been in a downturn. Big players like Bitcoin and Ethereum have crashed significantly, with BTC trading below the $100,000 mark and ETH down below $3,000. 

Shiba Inu was also among the cryptocurrencies affected by the market volatility. CoinMarketCap’s data reveals that SHIB experienced a 20% crash over the week, driving its price to new lows. While the meme coin has recovered slight gains of about 6.4% in the past 24 hours, its recent downtrend still reflects ongoing bearish pressure. 

Amidst the downtrend, IntoTheBlock reports that large holder inflows have skyrocketed by 553.59% in the last seven days. On February 2, large-scale SHIB holders had accumulated 1.27 trillion SHIB. However, their buying activity surged dramatically the next day, with whales purchasing an impressive 6.51 trillion SHIB.

Despite the significant uptick in whale inflows, ITB’s data shows an extraordinary rise in outflows. Whale outflows skyrocketed by 1,290% in the last seven days, with 967.25 billion SHIB sent out on February 2. This trend continued the next day when whales moved an astonishing 6.5 trillion SHIB, marking a difference of over 5.5 trillion compared to the previous day. 

Are SHIB Whales Preparing For A Price Rally?

While large-scale transactions often influence market trends, it’s still uncertain if the recent increase in Shiba Inu’s whale movements signals an impending price rally. Based on CoinMarketCap’s data, Shiba Inu appears to be showing signs of slight recovery from its recent downtrend, possibly driven by the surge in whale transfers. 

However, despite this rebound, the price of Shiba Inu remains well below its 2024 price high of over $0.00002. As of writing, the meme coin is trading at $0.000015, indicating a significant drop in value due to bearish market trends and changes in investor sentiment. Additionally, the meme coin’s trading volume has plummeted 38.7% in the last 24 hours, settling at $874.2 million.

Bitcoin and the entire crypto market faced a sharp decline as fears of a U.S. trade war rattled investors. The price plummeted amid uncertainty, only to stage a swift recovery after reports emerged that President Trump is in negotiations with Mexico and Canada to lift the tariffs. This rapid turnaround has brought renewed optimism to the market, but volatility remains high.

Amid these turbulent price movements, key metrics from CryptoQuant reveal that the Bitcoin Funding Rate has turned negative for the seventh time in a year. Historically, each of the previous six instances of negative funding rates has signaled a strong bullish momentum for BTC. This metric, which reflects the cost of holding leveraged positions in perpetual futures contracts, suggests that traders have turned overly bearish—often a precursor to a sharp rebound.

Bitcoin’s ability to recover from the recent selloff highlights its resilience, but the coming days will be critical in determining whether the market continues its upward trajectory. If historical patterns hold, this latest negative Funding Rate could set the stage for another significant rally, reinforcing Bitcoin’s long-term bullish outlook despite short-term uncertainty.

Bitcoin Fundamentals Point To A Rally 

Bitcoin has experienced massive volatility in recent weeks, and despite strong price action, the direction remains uncertain. The macro environment is fundamentally bullish, with key developments in the U.S. opening doors for crypto adoption, a pro-crypto president in office, and the final year of the halving cycle unfolding. Historically, these conditions have set the stage for explosive growth. However, sentiment remains mixed as altcoins underperform compared to past cycles, leading many investors to question whether Bitcoin can sustain its momentum.

Amid this uncertainty, key metrics shared by analyst Axel Adler on X reveal a significant development: for the seventh time in a year, the Bitcoin Funding Rate has turned negative. Historically, this metric indicates that traders in perpetual futures contracts are paying a premium to hold short positions, signaling excessive bearish sentiment. Importantly, all six previous instances of negative funding rates in the past year have marked local bottoms and preceded a strong upward move in BTC’s price.

This suggests that Bitcoin may be gearing up for another major rally, potentially pushing above its all-time high. If history repeats itself, the current fear in the market may soon give way to renewed bullish momentum, solidifying Bitcoin’s dominance as it leads the next phase of the market cycle.

For now, Bitcoin is consolidating between critical levels, and reclaiming the $100K mark as strong support would be the first step toward a renewed push into price discovery. Traders are closely watching liquidity levels below $98K, as a successful defense of this zone would likely signal the next leg higher. On the other hand, further downside remains possible if BTC fails to reclaim key support levels. The next few days will be crucial in shaping Bitcoin’s short-term trend.

BTC Consolidates Below $100K

Bitcoin is trading below the $100K mark, hovering around $99,400 as it searches for strong support before making its next move. The market remains highly volatile and unpredictable, with both bulls and bears trying to take control. However, there are key levels to watch in the coming days that could determine the short-term direction of BTC.

The first crucial level is the $100K mark. If BTC reclaims this level and holds it as support, it would signal renewed strength and set the foundation for a bullish continuation. A decisive push above this mark would likely trigger increased buying pressure, pushing BTC toward new highs.

On the downside, the $98K level serves as critical support. If BTC can maintain this level, a recovery above $100K is almost certain. However, a break below it could introduce more uncertainty and lead to a deeper correction.

To fully regain bullish momentum and shift market sentiment, BTC must reclaim the $103,600 mark. This level is a key resistance, and breaking above it would set the stage for a breakout into price discovery. Until then, traders remain cautious, closely monitoring BTC’s ability to hold above key support levels.

Featured image from Dall-E, chart from TradingView

Crypto analyst TradingShot has identified a pattern on DOGE’s chart that shows why a bounce above $0.3 is expected for the Dogecoin price. This provides some optimism regarding the foremost meme coin, which was one of the most affected by the recent downtrend in the crypto market. 

‘Channel Down’ Formation Shows Why The Dogecoin Price Could Bounce Above $0.3

In a TradingView post, TradingShot highlighted a ‘channel down’ formation, which showed that the Dogecoin price could bounce above $0.3. The analyst explained that DOGE is trading within a 2-month Channel Down, which on the wider scale may be a Bull Flag for this Bull Cycle. He added that regardless of the timeframe, DOGE’s price was sold aggressively and hit its 200-day Moving Average (MA) for the first time since October 25, 2024. 

On the other hand, TradingShot remarked that if this pattern is just a 1-day Channel down, then the low that the Dogecoin price recorded on Monday is technically a bottom on the pattern’s lower lows trend-line. He noted that the previous one, recorded on December 20, 2024, rebounded towards almost the 0.786 Fibonacci retracement level.

In line with this, with DOGE in oversold territory, the crypto analyst asserted that he expects the new bullish leg for the Dogecoin price to target $0.3800, just below the 0.786 Fib level. This provides some optimism regarding the foremost meme coin, which recorded a 40% decline and dropped to as low as $0.20 following the wave of sell-offs in the crypto market over the weekend. 

The Dogecoin price has since recovered following the pause on tariffs by the US, Mexico, and Canada. However, the foremost meme coin remains below the psychological $0.30 price level. A bounce above this price level could again put DOGE in bullish territory and lead to a continuation of its bull run. 

DOGE Should Begin Its Next Leg Soon

In an X post, crypto analyst Kevin Capital stated that the Dogecoin price should begin the next leg of its bull run soon enough. This came as he opined that DOGE had just completed the second major correction of its bull cycle. The analyst noted that this price action is very similar to the last cycle, even with the decline in terms of percentage. 

Kevin Capital asserted that if all goes well with the Bitcoin price, the Dogecoin price should begin its next leg soon. Crypto analyst Trader Tardigrade revealed that Dogecoin’s MACD signals a bullish crossover on the 4-hour chart. He added that DOGE is gaining upward momentum and could reverse into a bull run again. 

At the time of writing, the Dogecoin price is trading at around $0.26, up over 13% in the last 24 hours, according to data from CoinMarketCap.

Paul Grewal, the Chief Legal Officer of Coinbase, is scheduled to testify at a critical Senate hearing with a focus on “Operation Chokepoint 2.0.”

The Senate Banking Committee has convened this hearing to examine allegations that regulatory agencies are deliberately limiting the access of crypto firms to banking services.

Grewal, a fervent proponent of transparent crypto regulations, is anticipated to defend against what many in the industry consider to be unjust treatment.

The Focus Of Regulatory Scrutiny

The hearing takes place as concerns about regulatory activities that allegedly target cryptocurrency operations are growing.

According to previously released documents retrieved through Freedom of Information Act (FOIA) requests, the FDIC may have given banks instructions to limit their dealings with cryptocurrency-related organizations.

Detractors claim that these measures are similar to the controversial “Operation Chokepoint,” a prior effort that was charged with debanking legitimate but politically unpopular companies.

I’m testifying at the @FinancialCmte’s oversight hearing looking into the past clandestine and undemocratic campaign to cut off crypto from banking. On behalf of @Coinbase, I’m proud to help shed light on the unfair treatment of our industry and thank @FinancialCmte and… pic.twitter.com/TDIVu1cdW1

— paulgrewal.eth (@iampaulgrewal) February 3, 2025

In addition to other industry leaders, Grewal will be accompanied by Fred Thiel, CEO of MARA Holdings, who are anticipated to oppose these purported efforts to isolate crypto firms.

Coinbase has been vocal about the necessity of explicit, well-defined regulations, as opposed to what it considers to be backdoor suppression tactics.

Coinbase Position Regarding Banking Restrictions

Grewal has often spoken out against what he sees as unfair rules in the cryptocurrency industry. Coinbase claims that these banking rules hinder innovation, limit choices for consumers, and lead more crypto activities to happen outside the country.

Grewal will likely point out instances where regulatory agencies have pressured financial institutions to end relationships with crypto companies without a clear reason in his testimony.

Coinbase has consistently maintained that the United States is at risk of falling behind in the global crypto landscape as a result of its inconsistent regulatory policies.

One of the largest exchanges globally, the exchange has encountered its fair share of regulatory challenges, including litigation from the US Securities and Exchange Commission (SEC). In all likelihood, Grewal’s testimony will serve to bolster Coinbase’s advocacy for regulatory treatment that is both equitable and transparent.

Under Operation Choke Point 2.0, @FDICgov politically targeted American business and pressured banks to sever ties with entire industries like crypto.

Next Congress @FinancialCmte stands ready to work with @realDonaldTrump to halt and reverse these practices, and finally… pic.twitter.com/SsE2C7Fp9l

— French Hill (@RepFrenchHill) November 20, 2024

Implications Of The Hearing For Cryptocurrency

The decision of this hearing could have major consequences for the US cryptocurrency market. More fair policies could be opened if lawmakers realize that regulatory excess is killing the sector.

Still, if the hearing results in more investigation without significant action, crypto companies could still run into regulatory ambiguity and banking access.

Right now, the sector is excited about Grewal’s testimony and the possible effects it might have on US crypto going forward.

Featured image from One Tree Hill Chambers, chart from TradingView

Investors and traders of Dogecoin have been struck with liquidations following a notable price pullback, triggered by a broader crypto market whirlwind. Dogecoin has dropped below the $0.30 level, finding support at the $0.25 mark. While this correction has triggered fear and uncertainty, analysts claim it is a key part of DOGE’s journey to new heights.

A Rally To A New All-Time High For Dogecoin Brewing?

With Dogecoin facing significant bearish pressure, pessimism is beginning to take over market sentiment. However, Trader Tardigrade, a technical analyst and investor has weighed in on the negative price movements, offering hope about a potential shift for DOGE toward the upside again in the short term.

Trader Tardigrade’s optimistic forecast is based on past market cycles. Looking at the chart shared by the analyst, Dogecoin’s recent price pullback may be a crucial prelude to its next significant surge toward a new all-time high. 

Despite brief drops, the meme coin is still in a bullish overall structure because past patterns show that corrections frequently come before sharp price swings. “No need to sweat the Dogecoin Pullback. When you understand the figures, it’s just a process that DOGE has to undergo,” the expert stated.

Back in the 2016 cycle, a similar pullback was seen just before a significant rally. Dogecoin witnessed a retracement of about 59.76% followed by a bull run of over 9,222%. The same pattern was spotted in the 2021 bull cycle, where the meme coin retraced by 56.2% before experiencing a massive upsurge of more than 30,693%.

With DOGE seeing constant bearish movements, Trader Tardigrade believes that these past trends are likely to repeat in this cycle. Should the past trend unfold, the expert anticipates a much bigger rally than the last cycle, targeting close to the $3 price mark.

The analyst expects this cycle to be bigger due to the fact that each cycle in the past has produced larger rallies than the last. Thus far, watching key support levels is crucial as a rebound could occur anytime soon, triggering buying momentum and a significant breakout in the coming weeks.

Next All-Time High Could Be $1.50 Or $2.10

Trader Tardigrade’s forecast aligns with crypto expert DOGECAPITAL’s analysis of DOGE’s short-term performance. Also examining past cycle rallies, the analyst highlighted the current pullback is expected, suggesting its significance in ushering in a major bull run.

Once the pullback is over, DOGECAPITAL predicts that the meme coin might rally to new highs between $1.50 and $2.10 in the upcoming months. The expert noted that this is the area where DOGE will face its next major level of resistance similar to previous trends, depending on timing.

With recent major developments like the potential introduction of Spot Dogecoin ETF and the Department of Government Efficiency (D.O.G.E), the meme coin could experience unprecedented long-term growth.

Coinbase is now facing a lot of public attention after ZachXBT, a crypto investigator, broke out news of a shocking social engineering scam that targeted Coinbase users, taking away a whopping $300 million of losses.

Generally, scammers impersonate agents of Coinbase support to trick users into revealing sensitive information like private keys and login information. This investigation by ZachXBT took the security breach to a new extent, highlighting the increasing dangers in the crypto domain.

1/ Over the past few months I imagine you have seen many Coinbase users complain on X about their accounts suddenly being restricted.

This is the result of aggressive risk models and Coinbase’s failure to stop its users losing $300M+ per year to social engineering scams. pic.twitter.com/PjtX7vmjqc

— ZachXBT (@zachxbt) February 3, 2025

ZachXBT Uncovers The Scale Of Social Engineering

Social engineering scams have been around for a while in the crypto world. However, ZachXBT’s probe shows that scammers are using clever tactics to deceive Coinbase users. Attackers pretend to be official support staff to trick people into giving them important account information.

Many users have fallen for these methods. Even though Coinbase has safety nets in place, this scam shows how easily users can be tricked if they don’t know enough about these dangers.

3/ Let’s walk through how these Coinbase social engineering scams work.

A victim reached out to me last month after losing ~$850K.

Graphing out this theft lead to a consolidation address with 25+ other victims tied to ‘coinbase-hold.eth’.

Theft address… pic.twitter.com/y8dRxwlOO6

— ZachXBT (@zachxbt) February 3, 2025

$300 Million Lost To Fraud: The Scope Of The Scam

The size of this swindle is alarming. A $300 million consumer theft occurred as a result of a social engineering attack. Scammers are now skilled at taking advantage of people’s trust in cryptocurrency sites such as Coinbase.

Coinbase users reportedly lost at least $65 million to theft in just the period from December 2024 to January 2025. This amount excludes police records and Coinbase support tickets that ZachXBT was unable to get.

There are serious repercussions, and as of right now, there are no clear signs that the scam is over. More individuals may continue to fall for the trap unless there is an urgent call to action.

Coinbase Response To Growing Threats And The Need For Security Enhancement

Although Coinbase has not yet disclosed its plans for the $300 million theft, the business has a history of taking the initiative to protect its consumers by releasing security upgrades on time.

With losses of such magnitude, it is clear that Coinbase will have to improvise security measures to defend against future attacks of this kind. Along with increased training of their users in spotting social engineering methods, the platform is likely to pay attention to improving security.

For now, users can protect themselves by enabling two-factor authentication and by being suspicious of unsolicited communication which are signs of a potential for fraud.

ZachXBT’s report of the scam shows just how much community involvement is needed in curbing fraudulent activities. Both users and platforms need to be on watch to protect their finances as the cryptocurrency market faces growing dangers. And the $300 million loss could only underscore the importance of having good security in place for the cryptocurrency sector.

Featured image from PYMNTS, chart from TradingView

Dogecoin (DOGE) could be on the cusp of another massive rally, according to an analysis from technical analyst Kevin (@Kev_Capital_TA). He believes the current correction closely mirrors the pattern that set the stage for DOGE’s explosive gains during its previous bull cycle. In his view, the DOGE price crash over the days, measured by percentage, are almost identical to the last run, suggesting the meme coin is now ready to embark on its next major leg up if Bitcoin (BTC) holds steady.

Dogecoin Set To Explode By 1,400?

DOGE crashed from around $0.33 to $0.20 in just three days, a plunge of nearly 40%, before bottoming out at $0.20 on Monday. This swift downturn coincided with a market-wide shock sparked by US President Donald Trump’s announcement last Friday of new tariffs on goods from Canada and Mexico. As fear of a trade war rippled through the financial markets, investors rushed to move their funds into safer assets, causing DOGE to fall by about 25% on Monday alone and pulling it down to levels not seen since November 8 of last year. Bitcoin was similarly affected, slipping to $91,200 as part of the broader market sell-off.

Recovery began once Trump revealed a deal on Monday with Canada and Mexico that eased some concerns over tariffs, reversing much of the panic-driven flight from cryptocurrencies. According to Kevin, the pace of the rebound supports the thesis that Dogecoin may have already completed its second significant corrective phase of this bull run. He points to the coin’s past cycle, where two large drops preceded an extended surge in price. The most recent drop of nearly 40% in DOGE, in his words, “very similar to last cycle and the drops in terms of percentage,” is evidence that history could be repeating.

In a prior chart, Kevin outlined specific Fibonacci extension levels that, if DOGE follows a similar trajectory to its last bull run, could act as future targets during an upswing. He identified $0.2867 at the 0.618 Fib, $0.30 at the 0.65 Fib, $0.41 at the 0.786 Fib, $0.59 at the 0.886 Fib, $0.74 at the 1.00 Fib, $0.93 at the 1.0866 Fib, $1.57 at the 1.272 Fib, $2.28 at the 1.414 Fib, and $3.95 at the 1.618 Fib.

He flagged $0.93 as a region of immediate resistance, indicated by a blue box on his chart, and another potential supply zone near $2.28. He then highlighted $3.95 (the 1.618 Fib) as the ultimate upside objective if bullish momentum persists. A surge to this price level would represent an increase of more than 1,400%.

The emphasis on repeating historical patterns centers on the idea that the recent market turbulence may have concluded DOGE’s second major correction, similar to what happened in its previous cycle. With this phase now possibly behind it, the meme coin could be positioned for a significant run if macro conditions remain stable and Bitcoin, often seen as the market’s anchor, does not falter.

As Kevin put it, “In my opinion #Dogecoin just completed its second major correction of its bull cycle. Very similar to last cycle and the drops in terms of percentage were very similar. If all goes well with #BTC then #Doge should begin it’s next leg soon.”

While it remains to be seen whether the price action will unfold exactly as Kevin’s chart suggests, the swift bounce from $0.20 has given traders hope that DOGE may indeed be mirroring its last bull run. The weeks ahead could prove pivotal, particularly if the coin pushes above that the first major resistance levels.

At press time, Dogecoin traded at $0.26.

Dogecoin’s price action over the past 24 hours has reflected the turbulence sweeping across the broader crypto market. The meme coin suffered a sharp decline on February 3, tumbling by double digits as the market underwent a widespread selloff, triggering mass liquidations across multiple cryptocurrencies. Dogecoin itself was not spared, with a considerable number of traders facing liquidations.

However, despite the short-term pain, crypto analyst ÐOGECAPITAL (@DimaPotts36) suggests that this downturn was part of a much larger setup, one that could catapult Dogecoin beyond its all-time high toward a new peak between $1.50 and $2.10.

Dogecoin Price Crash Aligns With Historical Trends

ÐOGECAPITAL’s latest analysis indicates that Dogecoin’s recent crash was anticipated as part of the asset’s broader market cycle. The analyst shared insights pointing to historical price behavior, drawing comparisons to Dogecoin’s previous bullish cycles. On November 24, 2024, the analyst had outlined expectations for a significant correction, referencing how the price had previously retraced after reaching the 78.6% Fibonacci level in a past cycle.

At that time, Dogecoin had surged to this key Fibonacci level before experiencing a sharp -56% pullback, which later gave way to a massive rally. The analyst had emphasized that this pattern could repeat, warning that investors should expect significant corrections on the way to new highs. With DOGE now undergoing a similar retracement, ÐOGECAPITAL believes the conditions are aligning for the next leg of the rally.

Price Rebound Could Push DOGE Price To $1.50 And Beyond

Following the expected pullback, which materialized as Dogecoin reached a bottom of $0.2237 in the past 24 hours, the analyst noted that Dogecoin is now gearing up for an eventual push to new highs. In his latest statement, he reaffirmed his confidence that the asset will soon resume its upward trajectory.

Once the pullback is over, Dogecoin could resume its upward trajectory and start trading above multi-year resistance levels. In this case, the analyst noted that this could push the meme coin towards a peak of at least $1.5 or to an upper end of $2.10. These targets are grounded in Fibonacci extension levels from the 2022 bear market low.

As of now, DOGE is in its third cycle and might be on the way to repeat the outcome of the second cycle. Notably, the price projections don’t stop here, as the Fibonacci extension analysis shows that Dogecoin could even reach as high as $3.94 this cycle.

Despite the bearish sentiment surrounding the recent price drop, ÐOGECAPITAL’s analysis provides a bullish outlook. At the time of writing, DOGE is trading at $0.2636, up by about 6.3% in the past 24 hours. However, it still remains down by about 21.3% in a seven-day timeframe, having lost the support at $0.31. The first step to reaching $1.5 would be for the Dogecoin bulls to regain this support at $0.31 and then break above resistance at $0.5 before eventually breaking above its current all-time high of $0.73.

Crypto giant Bitcoin may have witnessed significant volatility, causing its price to drop as low as $91,000 after reaching a new all-time high. However, a crypto analyst believes that BTC’s bull run has not yet reached its peak, suggesting an impending move toward new highs and a market top.

Market Top For Bitcoin Above The $200,000 level

Bitcoin is struggling to reclaim key resistance levels after a pullback. Despite the sharp correction and market fluctuation, Mags, a seasoned market expert and trader outlines that BTC’s bull market cycle remains strong in the long term.

The expert shared his perspective on BTC’s market dynamics as speculations about the asset reaching its peak for this cycle. Bitcoin’s overall trend is still upward even though major support levels have been tested by short-term retracements, which is an encouraging sign for another breakthrough in the upcoming months. 

Mags’ analysis is based on critical Fibonacci extensions that have historically signaled a rally and a potential market peak. It is worth noting that Fibonacci extensions play a vital role in determining the next possible resistance levels.

Heightened volatility may have hindered upside momentum, but Mags expects BTC to enter a price recovery in the short term. Once the flagship asset enters price recovery, the expert has highlighted 3 distinct key Fibonacci extension levels in its bullish journey such as 1.618, 2.618, and 3.618.

Considering past cycle trends, these Fibonacci extension levels could help gauge BTC’s next rally and identify its market top for the ongoing cycle. As seen in the previous bull cycle, Btcoin reached its top at the 3.618 Fibonacci extension before going into a bear market.

Meanwhile, BTC is being rejected at the 1.618 fib extension level in the current cycle, marking the first key resistance in its rally toward new highs. Strong support and a breakout above this level are expected to bolster further uptrends to other fib extension points.

When this happens, Bitcoin will surge to the next extension of 2.618, which is located close to $154,522, before moving forward to the last extension of 3.618 at around $207,701. Mags urges investors to keep an eye on these levels when the price shifts toward a positive direction again.

Is It The Right Time To Buy BTC?

Amid heightened volatility, market expert and trader Daan Crypto Trades, using key indicators have identified the the ideal time to purchase or sell BTC. 

Using the Bitcoin 2-Year MA Multiplier tool, the expert highlighted that when the price is trading below the 2-Year MA, it has historically been an interesting time to purchase BTC. Meanwhile, when prices exceed the 2-Year MA 5, it typically implies that BTC has overextended and may be nearing a peak.

Currently, Bitcoin’s price is in the middle of the 2-Year MA and the 2-Year MA 5. According to the expert, this is not the right point to make long-term purchases. However, it is also not quite as overextended as in past cycles.

Sygnum says AI agents are bullish, with great potential. Japan’s prime minister, Shigeru Ishiba, met with Sam Altman of OpenAI ahead of an upcoming meeting with President Trump. The topic? Increasing cooperation on developing AI.

Is this all setting the stage for the explosion of the next big crypto – perhaps an AI agent like MIND of Pepe?

AI’s been at the forefront of everyone’s mind for months now, but when DeepSeek emerged last week, a wave of FUD (fear, uncertainty, and doubt) swept over the market. But just a few days later, everyone is back on the AI train and steaming ahead.

That sets $MIND up well to be the next big crypto to explode.

AI Agents Set To Breakthrough

AI agents are a subset of the broader crypto AI market cap, itself up 6% in the past 24 hours. Sygnum’s report indicates:

Interest in AI-related crypto projects has grown substantially with the emerging niche of crypto AI agents. These agents, designed to automate processes and decision-making, have gained remarkable traction…

AI projects are promising a lot of practical solutions to AI issues. Among other capabilities, AI agents can learn organically, gain insights from the market itself, and respond accordingly to those insights.

None of the current projects has broken through to revolutionize the crypto industry…yet. But as Sygnum points out, that’s likely coming soon.

MIND of Pepe: Advanced AI Agent with Memecoin Sensibilities

Right on cue, enter MIND of Pepe.

By combining the power of an advanced AI agent with the energy and momentum of a memecoin, MIND of Pepe looks poised to achieve the breakthrough other crypto AIs haven’t.

MIND’s project goals include:

• AI agent on X – Set MIND of Pepe to interact and learn directly
• Market trend analysis – Process and analyze what MIND has learned
• Holder-exclusive alpha – Pass on critical insights to $MIND holders
• Token deployment – Unchain MIND of Pepe to deploy and launch tokens autonomously

These breakthroughs are a little short of revolutionary and could set MIND on a trajectory that outpaces all other AI agents.

Visit the $MIND presale here.

MIND of Pepe Powers Past $5M

MIND of Pepe’s presale just smashed through $5M raised, with a token price of $0.0032532. It’s one of a number of the best crypto presales available now that are making big waves in the crypto economy.

That’s a clear sign that early investors are bullish on $MIND’s potential. And with everyone from seasoned investment bankers to world leaders keen to see AI develop further, the MIND of Pepe is in an ideal position. Add in Trump’s pro-crypto agenda, and the time could be right for MIND of Pepe.

Do your own research, of course; none of this is financial advice, and the crypto market is always volatile.

Can MIND of Pepe do what no other AI agent has done before?

Time will tell.

MicroStrategy has made headlines again, but this time not for another mammoth Bitcoin acquisition. The company, known for its aggressive accumulation strategy, has temporarily put the brakes on its Bitcoin buying spree after 12 straight weeks of purchase.

Some analysts believe a strategy change may be in the works, but others suspect this pause will be very brief and that the company intends to start accumulating Bitcoin once again.

Bitcoin Buying: An Impressive Run Ends

The company’s last purchases brought its total Bitcoin ownership to nearly $45 billion, making it by far the largest company that owns Bitcoin. MicroStrategy is reviewing its treasury management strategy with respect to acquiring more Bitcoin for its reserve, including possible regulatory implications.

The choice to pause comes from growing speculation that the company is changing its approach due to market conditions. Bitcoin is very important to MicroStrategy, but things like managing cash flow, how their stock is doing, and efforts to raise money might be impacting their buying mindset in the short term.

Last week, MicroStrategy did not sell any shares of class A common stock under its at-the-market equity offering program, and did not purchase any bitcoin. As of 2/2/2025, we hodl 471,107 $BTC acquired for ~$30.4 billion at ~$64,511 per bitcoin. $MSTR https://t.co/QTBWl8KlNv

— Michael Saylor (@saylor) February 3, 2025

Capital-Raising Plans In Motion

MicroStrategy has been investigating several approaches to generate funds to support its Bitcoin purchase proposal. The company apparently intends to create up to $42 billion via a range of financial instruments including preferred stock sales, convertible debt offers, and at-the-market stock sales. These tactics might improve the company’s financial situation and provide the required cash for next Bitcoin transactions.

To buy even more Bitcoin, the company last week proposed a $250 million preferred share sale. It sold about 7.3 million shares of the series a few days later, more than doubling that sum.

MicroStrategy is still experiencing trouble with traditional finance but is adamant about its view of Bitcoin. Over time, market shakiness, investor concern, and regulatory uncertainty could all shift and result in a more wary view of the business approaching important decisions in not too distant future.

Strategic Changes And Tax Implications

Increased tax burdens may be a real weight on the minds of management when it comes time to make a decision about stopping acquisitions entirely. The company may be facing crushing tax bills on unrealized Bitcoin gains, which may amount to over $19 billion. Financial planning has to happen to deal with tax obligations that will keep the company on its Bitcoin course.

Since its recent inclusion in the NASDAQ 100 index, MicroStrategy is under different rules and regulations such as blackout periods, which can sometimes prevent insider trading from occurring. This may be another reason Bitcoin sales are being held back.

MicroStrategy’s Plans Going Forward?

While this pause might raise questions, there is little indication that MicroStrategy is stepping away from its Bitcoin-centric strategy. The company’s history suggests that any break in its buying spree is likely strategic rather than a sign of reduced confidence in Bitcoin. If anything, this could be a period of recalibration, allowing MicroStrategy to optimize its resources before resuming its Bitcoin accumulation.

Featured image from DALL-E, chart from TradingView

Coinbase makes the cut – finally.

The UK’s Financial Conduct Authority (FCA) only approves 14% of applications for financial institutions to operate in the country. And until recently, if you visited Coinbase from the UK, you received a standard ‘services restricted’ notice.

Now, the message has changed.

The FCA approved Coinbase’s application, the exchange is now live for UK users, and the crypto market is up 3% from the day before.

Unrelated? Probably. But Coinbase’s approval is another bullish sign for the year ahead, which leads to only one question – what crypto should you buy now?

Here’s our list of five crypto projects to keep your eyes on, on Coinbase or any other exchange you prefer.

Wall Street Pepe ($WEPE) – Best Pepe Ever With $68M Presale

Could Wall Street Pepe become the best pepe?

The latest Pepe-based memecoin continues to smash through its presale goals, passing the $68M on its way to what could easily become a sold-out presale.

$WEPE offers a number of benefits to token holders, including:

• Trading alpha – Exclusive $WEPE market insights and signals
• WEPE army – Private insider group for strategies, alpha-sharing, and the latest $WEPE plays
• Trading rewards – The best trades are eligible for weekly rewards
• Staking – Earn more on your $WEPE with dynamic APY

Above all, WEPE is a community-focused project with premium tools and community benefits.

$WEPE tokens are currently priced at $0.0003665, and the presale is moving fast – learn more about how to buy $WEPE before it ends.

Visit the Wall Street Pepe presale to learn more.

Alchemy Pay ($ACH) – Bridging Fiat and Crypto

On-ramping (fiat to crypto) and the even more complicated off-ramping (crypto to fiat) have been a thorn in the side of crypto adoption for years.

Now Alchemy Pay aims to change that, offering broad support for crypto payments across Web3. Alchemy Pay markets its services to anyone seeking to make their products crypto-friendly, while providing another blockchain – Alchemy Chain – optimized for payments processing.

The $ACH token is the utility token for Alchemy Pay, an ERC-20 token issued on the Ethereum blockchain. $ACH is up nearly 40% in the past month as users look for altcoins with added utility.

Best Wallet Token ($BEST) – One-and-Only Presale Wallet Token

Crypto wallets should be more than just places to store your crypto.

They should be portals to the entire crypto economy – a place to store, buy, sell, trade, and gain insights into the market while providing as many practical features as possible.

And as the name implies, that’s exactly what Best Wallet sets out to achieve. There’s a Best DEX and a Best Card in addition to the wallet. Now, there’s a Best Wallet Token ($BEST).

The $BEST token powers up the entire wallet and Best ecosystem, offering improved staking rewards, lower transaction fees, and governance access.

Last – but not least – $BEST token holders gain exclusive access to certain crypto presales. As a presale wallet, Best Wallet gathers select crypto presales in one location. Users can research and invest in these projects directly within the wallet.

That utility for $BEST has driven the ongoing presale north of the $9M mark, with tokens priced at $0.02385.

Follow the $BEST presale here.

Raydium ($RAY) – First Solana AMM

Liquidity markets allow investors to create ‘pools’ of tokens to trade, monetize through staking and yield, and facilitate swaps. It’s a fast-paced and technically complex world, but one that draws millions in investment.

Raydium was the first and most distributed Solana-based automated market maker for liquidity. $RAY, the native Raydium token, has a mining reserve that slowly releases additional $RAY onto the market.

Raydium’s popularity and $RAY’s tokenomics are part of the explanation for why the token is up 465% in the past year.

And it makes $RAY a token worth considering as crypto markets draw more investors.

Catslap ($SLAP) – Slapping Cats and Dropping Free Crypto

A simple Slap-to-Earn game powers potentially big airdrop rewards in the Catslap economy.

Working within Best Wallet, players can connect to the Catslap page and then turn on Slap-to-Earn, participating in a simple but entertaining game of using a feline gif to pummel various well-known characters.

At the end of one of four seasons, rewards are distributed in a Slapdrop (airdrop) to all participants.

It’s not complicated, but an entertaining game and a deflationary token burn mechanism help drive interest in $SLAP.

Learn more about the game – and how to participate – at the Catslap website.

What’s Safer for Your Crypto? Best Wallet or Coinbase UK

Coinbase brings broad name recognition to UK users.

But it might not be the perfect web3 wallet. For that, UK investors should turn to Best Wallet. Best Wallet offers users a multi-chain, non-custodial wallet with biometric security features. Keep your private keys, and keep your crypto with Best Wallet.

As Coinbase Opens to UK Users, Which Tokens Stand to Benefit?

Along with Best Wallet, Coinbase potentially opens the door for additional UK investors to take a closer look at crypto.

What’s the best crypto to buy to take advantage of any surge in interest? These five are worth a closer look. As always, do your own research – this isn’t financial advice, so make sure you know what you’re investing in. Crypto is volatile, and losses are always possible.

But don’t miss your chance, either.

Bitcoin could see unprecedented capital inflows ranging from $150 billion to $500 billion as US President Donald Trump signed an executive order on Monday mandating the creation of a new sovereign wealth fund. The initiative—which did not explicitly reference BTC during its announcement—will be helmed jointly by US Secretary of Commerce Howard Lutnick and US Secretary of the Treasury Scott Bessent.

The US sovereign wealth fund (SWF) is expected to be created within the next 12 months. Although official details remain sparse, market observers note that both Lutnick and Bessent have been vocal supporters of Bitcoin, prompting speculation that the nascent fund could include digital assets.

Why $150 Billion Bitcoin Inflows Are Reasonable

Well-known BTC advocate Florian Bruce-Boye offered a sweeping outlook via X, suggesting the upcoming US sovereign wealth fund is destined to become “the largest sovereign wealth fund in the world in the long term.” He stated:

“The USA will create a sovereign wealth fund. It is set to become the largest sovereign wealth fund in the world in the long term. That would be $2 trillion dollars. That is as big as BTC itself. With H. Lutnick and S. Bessent at the helm, it is highly likely that Bitcoin will be included in this sovereign wealth fund.”

Bruce-Boye pointed to the personal investment profiles of both Lutnick and Bessent, emphasizing their favorable views on Bitcoin. According to his statements, Lutnick “has hundreds of millions in BTC and, according to his own statements, buys every dip,” while Bessent “sees Bitcoin as a freedom technology.”

Drawing further parallels, Bruce-Boye highlighted how Norway’s $1.8 trillion fund and Saudi Arabia’s $1 trillion fund could add “another 1.5 times the market capitalization of Bitcoin” if they follow suit. He referenced a recent comment from BlackRock CEO Larry Fink, who mentioned a sovereign wealth fund seeking guidance on whether to invest “2% or 5%” in BTC.

Bruce-Boye concluded by quantifying the possible capital flow: “3% of $4.8 trillion dollars is $150 billion. At current prices, that’s around 1.5 million BTC… And that’s only if the three largest build up a small position. Anyone who has not yet ‘studied’ Bitcoin should do so as soon as possible.”

Or Even $500 Billion?

Echoing a similar optimism, Apollo co-founder Thomas Fahrer posted: “The US Sovereign Wealth Fund should reach $5T AUM pretty quickly. For context, Norway’s fund holds $2T, and they have a population of 6M people. 10% allocation to Bitcoin makes sense, so that’s about $500B buying over the next couple of years. Bullish.”

Fahrer’s estimate pushes the potential inflow even higher, implying that if the US fund does indeed adopt a strategic BTC allocation, it could trigger a multi-year wave of institutional demand.

Jeff Walton, digital capitalist and founder of True North, underscored the significance of Howard Lutnick’s leadership in a separate X post. Lutnick, who serves as both the US Secretary of Commerce and CEO of Cantor Fitzgerald, is known for his substantial personal position in BTC.

Walton wrote: A couple of fun details about Howard and Cantor Fitzgerald:

1. Howard owns “hundreds of millions of dollars of Bitcoin, and it’s going to be Billions”

2. Cantor Fitzgerald owns a 5% stake in Tether, and manages Tether’s treasury assets

3. Cantor is launching a $2 Billion Bitcoin financing lending business, that would use Bitcoin as collateral for USD loans.

4. “We will build the best platform for financing Bitcoin”

5. “We are Cantor Fitzgerald, and we will support Bitcoin”

For now, the global BTC market watches and waits, aware that even a modest allocation from the incoming US sovereign wealth fund could reshape the landscape —and possibly herald a new wave of institutional participation worldwide.

At press time, BTC traded at $99,450.

While President Trump has signed an executive order to create an American sovereign wealth fund, top new crypto token, Wall Street Pepe ($WEPE) is preparing to list with just 12 days left on presale.

If there’s good news for crypto and Bitcoin around the corner, how might this affect incoming altcoins like $WEPE?

About the executive order, Senator Cynthia Lummis tweeted ‘This is a ₿ig deal,’ hinting that the government might invest in Bitcoin ($BTC). The news briefly sent $BTC back above $102K after it dipped below $94K on Monday on word of Trump’s tariff wars with neighboring countries, Mexico and Canada.

We may find out more at Trump’s Crypto Czar David Sackstoday’s emergency crypto conference to be held later today. Topics expected to be addressed include the likelihood of a national Bitcoin reserve, a crypto stockpile, and any updates on crypto legislation.

A Page Out of Norway’s Book

First, what is a ‘sovereign wealth fund,’ and how is it different from a strategic reserve?

A sovereign wealth fund is a government-owned fund that holds various assets like stocks, bonds, real estate, and crypto, to generate returns. In contrast, the purpose of a strategic reserve is crisis management, so it typically holds lower-risk, higher-liquidity assets like commodities and foreign currencies.

Several states, namely, Alaska and Texas, already operate sovereign wealth funds, but the federal government has never held one.

Making $BTC a reserve asset would take a big legal overhaul because, as we mentioned, strategic reserves typically holds low-risk assets, which doesn’t exactly align with crypto’s volatility.

A sovereign wealth fund is a different story. Norway, for example, indirectly holds 3.8K $BTC through stocks of MicroStrategy and Metaplanet, both known for their $BTC-first strategies.

Abu Dhabi is another example of a government routinely investing in crypto projects, including ZKsync-based exchange GRVT.

Both countries are doing exceptionally well on core economic metrics, largely due to their diversified investment funds.

Trump didn’t explicitly mention the fund would hold crypto, but today’s impending emergency crypto press conference and Lummis’ tweet have the rumor mill turning.

Wall Street Pepe ($WEPE) Embraces the American Dream, $68.4M Raised

When you think of it, crypto aligns perfectly with core American values – equality, freedom, democracy, and the belief that anyone can succeed, regardless of background.

Now that Trump is on a mission to revive these ideals, community-led projects are poised for a bullish year.

One example is Wall Street Pepe ($WEPE) – a project that levels the playing field for small traders and helps them escape the oppression of whales.

WEPE Army is a group of ‘thirsty degens’ united by ambition and a strong risk appetite. Community members will share trading strategies and market analysis to outperform the big fish together.

The $WEPE presale has gained enormous traction, raising over $68.4M in just two months. Just 12 days remain to join the WEPE Army at a final price of $0.0003665, after which the token will list on major exchanges at a higher point.

In the presale stage, early adopters can also stake their tokens at an 18% APY for passive gains.

Team spirit, strong momentum, a record-breaking ICO, and generous token holder incentives make $WEPE one of the best presales this year.

Analysts like ClayBro expect the token to surge at least 15X after the first listing. And with 38% of the total token supply allocated to marketing, WEPE could maintain this momentum for years to come.

Join WEPE’s Fight for Financial Freedom

There’s no reason to doubt that $BTC and, perhaps, some other altcoins will become part of the federal investment strategy, one way or another.

This would add legitimacy to the market and attract new capital inflows, prolonging the bull run.

Wall Street Pepe ($WEPE) presale ends just in time for this new wave of crypto adoption in the US, so its long-term outlook is very positive.

If you want to join the WEPE Army, the clock is ticking to get in at the presale price. However, it’s always best to DYOR and do what you can to diversify your portfolio to offset potential losses.

The Commodity Futures Trading Commission (CFTC) has initiated inquiries into Crypto.com and Kalshi Inc. regarding their recently launched event contracts tied to the Super Bowl, as reported by Bloomberg. 

Crypto.com Vows Cooperation: Prepared To Address CFTC’s Questions

Under existing statutes, the CFTC has the authority to request additional information from companies that self-certify their financial products. This includes demonstrating that their offerings are not easily manipulable and that they meet various regulatory requirements. 

The agency reviews the responses it receives, which could lead to enforcement actions or the drafting of new regulations. A spokesperson for the CFTC confirmed to Bloomberg via email that they are actively reviewing the contracts in question. 

The agency recently announced plans to hold public roundtables addressing emerging issues in the derivatives market, including the burgeoning category of event contracts.

Crypto.com has expressed confidence in the legality of its event contracts and is prepared to cooperate with the CFTC’s inquiries. 

In a statement, the company highlighted its belief that the CFTC is the appropriate regulator to ensure market integrity and manipulate controls across all states. “We will continue to offer these contracts while we work with the CFTC,” the spokesperson affirmed.

New Opportunities Emerge Via Kalshi’s Exchange

Earlier this year, the CFTC voted to place Crypto.com’s sports contracts under a special regulatory review to ascertain whether they fell under the category of gaming, which typically attracts heightened scrutiny regarding public interest. 

Recently, Crypto.com withdrew two filings that were under review and self-certified a new contract related to spectator sports and associated industries, according to public filings with the agency. 

In contrast, Kalshi’s contracts, which were launched shortly after President Donald Trump’s inauguration, have not faced similar scrutiny from the CFTC. 

The impetus for the CFTC’s inquiry appears to stem from the sudden emergence of sports-related event contracts that Crypto.com began offering late last year. 

These derivatives allow traders to wager on binary outcomes, such as predicting whether the Kansas City Chiefs or the Philadelphia Eagles will win the Super Bowl. The CFTC was reportedly caught off guard by the launch of these contracts on December 23.

Adding to the complexity, Robinhood Markets announced Monday that it would introduce its own sports trading options via Kalshi’s exchange for Robinhood Derivatives clients. 

The company noted the potential of event contracts as an emerging asset class, stating, “We recognize an opportunity to better serve our customers as their interests converge across the markets, news, sports, and entertainment.”

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

Data shows the Bitcoin Coinbase Premium Gap has just turned back positive, a sign that buyers have returned on the platform.

Bitcoin Coinbase Premium Gap Is Now Green Again

As pointed out by CryptoQuant community analyst Maartunn in a new post on X, the Bitcoin Coinbase Premium Gap has just flipped back positive. The indicator of relevance here is the “Coinbase Premium Gap,” which, as its name suggests, keeps track of the difference between the BTC price listed on Coinbase (USD pair) and that on Binance (USDT pair).

The former cryptocurrency exchange is mainly used by the US-based investors, especially the large institutional traders, while the latter one hosts a global traffic. As such, the metric tells us about how the buying or selling behaviors differ between the American and foreign whales.

When the value of this indicator is positive, it means the the asset is going for a higher rate on Coinbase than on Binance. Such a trend implies the US-based investors are participating in a higher amount of buying (or lower amount of selling) than the global entities.

On the other hand, the metric being under zero suggests the Binance users may be applying a higher buying pressure as the cryptocurrency is trading at a higher price on there.

Now, here is the chart shared by the analyst that shows the trend in the Bitcoin Coinbase Premium Gap over the last couple of days:

As is visible in the above graph, the Bitcoin Coinbase Premium Gap was inside the negative territory yesterday, implying Coinbase was witnessing a higher amount of selling pressure than Binance.

The selloff from the American investors intensified as the crash to $92,000 occurred for the cryptocurrency, but since the bottom, the metric has seen a reversal into the green zone.

Throughout 2024, the US-based institutional entities were the main drivers of the market, with the price of Bitcoin often finding itself tracing the same path as the Coinbase Premium Gap. It would appear that 2025 is so far no different in this, as BTC has seen a recovery push beyond $98,500 alongside the revival of accumulation on Coinbase.

Given the pattern, it may be wise to keep an eye on the indicator in the near future as well. A continued stay in the positive region would naturally be a bullish sign for BTC, while a decline under zero could bring back bearish momentum.

In some other news, the Bitcoin Korea Premium Index, a metric similar to the Coinbase Premium Gap that tracks the premium on South Korean platforms, hit a three-year high of around 12% following the crash.

The trend would imply that the users on the Korean exchanges, who had already constantly been accumulating recently, heavily bought the Bitcoin dip.

BTC Price

At the time of writing, Bitcoin is floating around $98,400, down around 1% in the last seven days.

Donald Trump’s second son, Eric Trump, said ‘it’s a great time to add $ETH’ as the token plunged over 20% yesterday.

In response, $ETH rose from $2.3K to $2.7K as investors rushed in to buy the dip.

Eric Trump pumping $ETH makes sense in the light of his ties to his father’s crypto venture World Liberty Financial (WLFI).

Last month alone, WLFI bought over $100M worth of $ETH and $WBTC. Five hours ago, the company added another $5M worth of $ETH, bringing its total holdings to $205M.

With an average buy price of $3,354, WLFI is now in a $31M loss, so Eric Trump may be attempting to increase the value of WLFI’s portfolio.

Either way, that’s good news for all $ETH holders and the entire Ethereum ecosystem. That’s why we share the best meme coins to buy now as Trump pumps.

1. Solaxy ($SOLX) Bridges Ethereum and Solana for Efficient Transactions

Solaxy ($SOLX) is an Ethereum-based Layer-2 solution for Solana, which means it bridges the two largest meme coin ecosystems. The cross-chain architecture allows for the smooth transfer of data and funds between the networks.

Most importantly, Solaxy addresses Solana’s long-standing congestion and scalability issues. Solaxy plans to offload part of transactions from the mainnet to its proprietary Layer-2 network to speed up processing and cut transaction costs.

$SOLX’s token presale kicked off in December and already surpassed the $17.7M milestone, with one token now priced at $0.001624. In 23 hours, the price will increase, so now is the prime time to secure your share of $SOLX at the biggest discount.

After the token claim, $SOLX will list on major exchanges, which might push its price to $0.032.

The long-term outlook is even more bullish, as Solaxy allocates 30% of the token supply for development. This shows the project’s commitment to sustained growth, so if you want to buy it, now’s the time to do it.

2. MIND of Pepe ($MIND) Delivers AI-Powered Crypto Insights for Smarter Trading

MIND of Pepe ($MIND) blends the viral appeal of Pepe with AI technology to help its community make unformed trading decisions.

This self-sovereign AI agent analyzes data from crypto market aggregators and social media discussions to gauge sentiment and identify trends. It then delivers $MIND token holders exclusive insights.

$MIND has two advantages over human traders: real-time analysis and lack of bias.

It’s hard to constantly stay in the loop to find new promising projects to invest in, and even harder not to give in to emotions like FOMO and FUD. MIND of Pepe’s advice is impartial and data-driven, which theoretically makes it more effective.

One $MIND token now costs $0.0032532 on presale, but the next price uptick will happen in a few hours. Beyond gaining access to MIND’s insights, early adopters enjoy a 452% staking APY.

3. Best Wallet Token ($BEST) Grants Exclusive Benefits in the Fastest-Growing Wallet Ecosystem

Best Wallet is one of the fastest-growing non-custodial hot wallets on the market, thanks to its beginner-friendly interface and advanced features. The presale aggregator is the app’s standout feature – it lets you buy into fresh projects early without even leaving your wallet.

Recently, Best Wallet introduced its native token, $BEST. Its holders benefit from lower transaction fees, higher staking yields, and governance rights. A decentralized voting model ensures that the project’s development aligns with the vision of its community.

$BEST is now available on presale at $0.02385. The project has already raised $9M in funding, a substantial part of which will go toward the app’s upgrades.

Best Wallet set an ambitious goal of capturing 60% of the crypto wallet market by 2026, so regular improvements to user experience and functionality are a top priority.

4. Floki ($FLOKI) Soars 237% in a Year, Is the Dip a Buying Opportunity?

Floki ($FLOKI) now ranks #6 among all meme coins and recorded a 237% yearly increase. The token now trades -72.89% below its all-time high, which presents an appealing entry opportunity into this community-driven ecosystem.

$FLOKI isn’t a speculative meme coin. Behind the meme facade, you’ll find a fast-growing network of dApps like the Valhalla NFT metaverse, TokenFi tokenization platform, and FlokiFi DeFi protocol. On top of that, Floki has its own NFT collection and debit card.

The bottom line is that $FLOKI value hinges on the adoption of underlying projects, and its developers recognize the need for regular updates.

Despite the current dip, $FLOKI still has great potential to reach a new all-time high if it rolls out new features down the line.

5. Dogcoin ($DCOIN) Holds a Fair Launch, Secures MEXC Listing

Dogcoin ($DCOIN) is this week’s most-visited Ethereum-based meme coin with a 908% monthly growth. Drawing inspiration from the OG meme coin $DOGE, $DCOIN focuses on fairness, transparency, and community building.

$DCOIN held a fair launch, which means all tokens were immediately available to the public on decentralized exchanges. There’s no project team to control Dogcoin’s development, so its success is entirely in the hands of its token holders.

Currently, $DCOIN has no applications, but any community member can propose a use case and, if others deem it a good idea, it will be implemented.

This morning, $DCOIN announced its first listing on a centralized exchange, MEXC. Likely owing to this, the token pumped 88% and might continue to grow, at least in the short term.

Closing Remarks

Eric Trump might be pursuing personal interests, but does it really matter if it benefits the community as a whole?

Meme coins on Ethereum, particularly top presales like Solaxy, MIND of Pepe, and Best Wallet Token, might capitalize on the current buying spree and growing adoption of $ETH.

Meanwhile, we remind you to DYOR and diversify your portfolio to offset potential losses. Don’t bet all your money on one project even if it has strong fundamentals.

In a move that could significantly impact Bitcoin (BTC) and the broader crypto landscape, President Donald Trump signed an executive order on Monday establishing plans for a government-run sovereign wealth fund aimed at economic development. 

This initiative follows Trump’s ongoing commitment to leverage Bitcoin and digital assets as a tool for the country’s economic strategy, a promise he made during his campaign last year.

Could Bitcoin Find A Place In US Financial Assets?

US Treasury Secretary Scott Bessent indicated during a press briefing that the administration intends to “monetize the asset side of the US balance sheet for the American people” within the next year. 

Bessent elaborated that the fund would encompass a range of liquid assets and domestic resources, signaling a potential shift in how the US manages its financial assets.

While the executive order does not specifically mention Bitcoin or cryptocurrencies, its goals include promoting fiscal sustainability, reducing tax burdens for American families and small businesses, and enhancing the country’s economic and strategic influence globally. 

The fund is also expected to invest in critical infrastructure projects such as airports and highways, which could bolster US influence in strategic regions like Panama and Greenland.

Bessent, alongside Commerce Secretary nominee Howard Lutnick—an advocate for Bitcoin and cryptocurrency—will develop a strategy for the fund within 90 days of the order. 

Pending further details, this move could potentially align with a growing trend among sovereign wealth funds to explore Bitcoin and digital assets as part of their investment strategies.

A Model For US Investment Strategies

Norway’s sovereign wealth fund, the largest in the world with over $1.7 trillion in assets, serves as a notable example. According to the Sovereign Wealth Fund Institute, the Norges Bank Investment Management (NBIM) has seen its indirect Bitcoin exposure rise by 153% in 2024. 

This increase, from 1,507 BTC at the end of 2023 to 3,821 BTC by the close of 2024, reflects a broader acceptance of Bitcoin in institutional investment strategies, even if not pursued directly.

Crypto expert Vetle Lunde emphasized that this rising exposure to Bitcoin among major institutional players indicates its maturation as a critical component of investment portfolios. 

Lunde also highlighted that NBIM has expanded its investments in Bitcoin-related companies, including mining firm Riot Platforms and the Japanese entity Metaplanet, while maintaining significant stakes in MicroStrategy, despite earlier predictions of reduced exposure.

The potential for a similar approach from Trump’s administration suggests a strategic pivot towards integrating Bitcoin and other digital assets into the US economic framework. 

Analysts like Lark Davis have noted the substantial implications of this executive order, suggesting it could enable the sovereign wealth fund to invest in stocks, cryptocurrencies, marking a transformative moment for the market.

As the administration prepares to unveil more details, the role of the newly appointed White House Crypto Czar will be closely monitored, especially during his upcoming Tuesday conference. 

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

Over the weekend, the crypto market experienced its largest correction in months, reportedly fueled by the new US tariffs on Canada, Mexico, and China. The market closed the first two days of February in red, with a 21% retrace from Friday’s highs.

The news also ignited a massive leverage liquidation worth billions of dollars. Despite the initial estimates suggesting a lower number, Bybit’s CEO revealed that the total market’s crypto liquidation could be significantly higher than the $2 billion reported.

Crypto Market Sees 21% Weekend Retrace

As February began, US President Donald Trump announced new tariffs on his three largest trading partners: Canada, Mexico, and China. According to the report, Trump is implementing an additional 25% tariff on imports from the two neighboring countries, and 10% on China’s imports.

After the news, the crypto market started to freefall from its Friday highs, with Bitcoin (BTC) falling 12.5% over the weekend to $91,000. The rest of the market followed BTC’s lead, with the second-largest cryptocurrency by market capitalization, Ethereum (ETH), dropping over 35% to $2,100, its lowest price since September.

As the fear of a global tariff war increased, most altcoins fell to monthly lows, momentarily retracing to their pre-December breakout range. As a result, the total crypto market capitalization plunged 21% over the weekend, its largest correction since August 2024’s “Red Monday.”

A recent report from Nansen noted that the crypto market seems to be “satiated with good news for now,” making it more “reactive to negative sentiment than positive news,” as seen with last week’s DeepSeek-triggered correction.

The weekend market crash also prompted massive leverage liquidations, with initial reports estimating over $2 billion. The record number represents a larger single-day crash than the COVID-19 and FTX collapse.

CoinGlass data shows that “In the past 24 hours, 743,002 traders were liquidated, the total liquidations come in at $2.30 billion,” with Ethereum’s $637 million liquidations taking the lead.

Liquidations Higher Than Expected

On Monday morning, Bytbit’s co-founder and CEO Ben Zhou shared some insight on the total value of the recent crypto liquidations. In an X post, Zhou stated that the “real” total number is “a lot more than $2 billion.”

According to his estimation, Bybit’s 24-hour liquidation was around $2.1 billion, a 530% increase from the $333 million recorded in CoinGlass. Zhou explained that due to limitations in the application programming interfaces (API), CoinGlass didn’t register all the liquidations.

FYI, Bybit 24hr liquidation alone was $2.1B, As you can see in below screenshot, Bybit 24hr liquidations recorded on Coinglass was around $333m, however, this is not all of the liquidations. We have api limitation on how much feeds are pushed out per second.

The crypto exchange’s CEO considers that other exchanges are likely experiencing the same limited liquidation data, which would potentially increase the total value from the $2.3 billion recorded anywhere between $8 billion to $10 billion.

Based on this limit, some users asked about the potential discrepancy between the real liquidation value from the FTX collapse. Zhou detailed that he estimates this figure to be “at least 4-6 times of what was reported basically.”

Ultimately, he pledged to be more transparent in the future, promising that “Moving forward, Bybit will start to PUSH all liquidation data.”