Dogecoin rebounded from Wednesday’s drop, with the meme coin briefly climbing back above $0.090 in today’s session. However as the day progressed, bearish sentiment heightened, with price declining. Litecoin was also down today, and continues to trade near a multi-week low.
Dogecoin (DOGE) was volatile on Thursday, as prices moved back into the red, after an earlier rebound.
DOGE/USD fell to an intraday low of $0.08685 in today’s session, following an earlier high of $0.09297.
The meme coin has been volatile in recent sessions, after a week-long bull run was snapped on Wednesday.
Looking at the chart, today’s candlestick has printed a large doji, with dogecoin now trading close to its open price.
In addition to this, the relative strength index (RSI) has found a floor at the 53.00 mark, which has helped maintain the uncertainty.
Should this floor give way, there is a good chance that DOGE will move towards a support point at $0.08000.
Litecoin (LTC) traded near a three-week low in today’s session, as the token moved below $100.00.
Following a high of $101.95 on Wednesday, LTC/USD plunged to a low of $89.38 earlier today.
This is the lowest level that litecoin has hit since March 31, with bears now potentially targeting a long-term floor at $86.00.
As a result of today’s decline, the RSI has fallen to a point of support of its own at the 45.00 mark.
If price strength were to fall below this point, it is likely that LTC could head closer to $80.00.
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Do you expect further declines in litecoin this week? Let us know your thoughts in the comments.
Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework
Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)'s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.
Dogecoin rebounded from Wednesday’s drop, with the meme coin briefly climbing back above $0.090 in today’s session. However as the day progressed, bearish sentiment heightened, with price declining. Litecoin was also down today, and continues to trade near a multi-week low.
Dogecoin (DOGE) was volatile on Thursday, as prices moved back into the red, after an earlier rebound.
DOGE/USD fell to an intraday low of $0.08685 in today’s session, following an earlier high of $0.09297.
The meme coin has been volatile in recent sessions, after a week-long bull run was snapped on Wednesday.
Looking at the chart, today’s candlestick has printed a large doji, with dogecoin now trading close to its open price.
In addition to this, the relative strength index (RSI) has found a floor at the 53.00 mark, which has helped maintain the uncertainty.
Should this floor give way, there is a good chance that DOGE will move towards a support point at $0.08000.
Litecoin (LTC) traded near a three-week low in today’s session, as the token moved below $100.00.
Following a high of $101.95 on Wednesday, LTC/USD plunged to a low of $89.38 earlier today.
This is the lowest level that litecoin has hit since March 31, with bears now potentially targeting a long-term floor at $86.00.
As a result of today’s decline, the RSI has fallen to a point of support of its own at the 45.00 mark.
If price strength were to fall below this point, it is likely that LTC could head closer to $80.00.
Register your email here to get weekly price analysis updates sent to your inbox:
Do you expect further declines in litecoin this week? Let us know your thoughts in the comments.
Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework
Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)'s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.
A new token named after Pepe the Frog, the infamous meme, and cartoon character created by Matt Furie, has entered the meme coin economy. The token is called Pepe (PEPE), and at the time of writing, it has become the sixth-largest meme coin asset in terms of market capitalization, valued at just over $130 million. However, amidst the fast rise, both the website coinmarketcap.com and the Web3 security startup Gopluslabs have warned that the contract owner may have the ability to modify the transaction tax and blacklist function.
Doge and the other dog friends in the meme economy have a new companion, but this time, the newcomer is a frog, specifically Matt Furie’s Pepe the Frog. The coin pepe (PEPE) has not been around for long, appearing on the scene on April 18, 2023. According to current statistics, PEPE is up more than 400% from the coin’s all-time low on the day it started trading. Two days later, on April 20, PEPE’s market valuation reached a high of $165 million. The number of pepe tokens in circulation is 420.69 trillion, and at the time of writing, there are 29,756 PEPE holders.
So far, the crypto asset has recorded 122,368 transfers. Out of the 29,756 PEPE owners, the top ten wallets command 17.25% of the entire supply. Additionally, according to PEPE’s rich list statistics, the top 100 PEPE holders own 44.51% of the entire token supply. On coingecko.com, PEPE is ranked #245 out of 10,755 crypto assets, and the web portal’s meme coin economy page shows that PEPE is the sixth-largest meme coin asset in terms of market capitalization size. On coinmarketcap.com (CMC), PEPE is ranked #2,605 out of 23,473 listed cryptocurrencies on the website.
CMC’s PEPE page also contains a warning link that says: “According to Gopluslabs the contract owner may contain the authority to modify the transaction tax and contain blacklist function. Please exercise caution before taking any action and DYOR.”
CMC also shared the Gopluslabs page that analyzes the PEPE contract. CMC shares warnings like this for other coins, such as Crypto AI (CAI), which states: “According to Gopluslabs, the smart contract of the following asset can be modified by the contract creator (for example: disable selling, change fees, mint new tokens, or transfer tokens). Please exercise caution before taking any action and DYOR.” If the PEPE team has the authority to modify the transaction tax, it would go against the project’s tokenomics ethos.
“No Taxes, No Bullsh**. It’s that simple,” the PEPE tokenomics page details. “93.1% of the tokens were sent to the liquidity pool, LP tokens were burnt, and contract is renounced. The remaining 6.9% of the supply is being held in a multi-sig team wallet only to be used as tokens for future centralized exchange listings, bridges, and liquidity pools. This wallet is easily trackable with the ENS name ‘pepecexwallet.eth.’” PEPE’s web portal also shows a picture of the frog urinating on the top meme assets like SHIB, DOGE, and APE.
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PEPE’s roadmap has big aspirations as phase three of the plan is to produce “generational wealth” and create a “Pepe Academy.” At the end of phase three, it also says “flip Bitcoin.” Furthermore, the PEPE website insists that the team and project have “no association” with Matt Furie or his creation, Pepe the Frog.
PEPE is not the first crypto asset to use the Pepe the Frog name and image, as there are a number of others dedicated to the famous meme, such as arbi pepe, pepesol, pepemoon, mcpepe’s, PEPE.bet, zkpepe, and babypepe.. Furthermore, pepe cash was created long before PEPE and the rest of these assets in order to bolster the community of digital artwork collectors and creators using the Counterparty blockchain and the original Rare Pepe NFT trading cards.
The new PEPE token website claims that the crypto asset is not a financial vehicle with any real promises. “PEPE is a meme coin with no intrinsic value or expectation of financial return,” the website discloses. “There is no formal team or roadmap. The coin is completely useless and for entertainment purposes only.”
What do you think about the rise of Pepe (PEPE) in the meme coin economy, and do you believe that its contract owner’s ability to modify transaction tax and blacklist function is a cause for concern? Share your opinion in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale
Grayscale Investments' CEO explains that the U.S. Securities and Exchange Commission (SEC) could potentially violate the Administrative Procedure Act by not approving a spot bitcoin exchange-traded fund (ETF). SEC Approving Spot Bitcoin ETF Is 'a Matter of When and Not ... read more.
Source From : News