The cryptocurrency market has seen better days with so many events unfolding in the past weeks. Meme coins are not left out of the inconsistency that has befallen Bitcoin since July. Worse still, there are different factors and events leading to this rise and fall.
For instance, analysts have spotted an increased selling pressure among DOGE futures traders whereas Shiba Inu released warnings about some scam towards its holders. On the other hand, DigiHorse is having a good run with its presale and all indications point to a long-term bullish run.
DOGE Plummets Due To Increased Selling Pressure.
Bitcoin’s price volatility has had a profound impact on the cryptocurrency market, resulting in Dogecoin’s 4.2% decline over the last 24 hours, with the coin trading at $0.0988. However, trader analysis reveals an intriguing imbalance, with twice as many traders taking short positions, suggesting a short-term price drop before a potential reversal.
The increasing DOGE funding rate over the past 12 hours, coupled with a price decline, suggests that futures traders are liquidating their Dogecoin holdings.
Furthermore, DOGE’s price prediction suggests that a breakdown below $0.0990 could signal market weakness, contradicting the bullish outlook and potentially leading to a drop to $0.0950 or lower.
With the price at a critical juncture within the falling wedge pattern, a breakout will likely determine the next major move. However, sustained selling pressure could negate the bullish thesis despite the pattern’s bullish implications.
Shiba Inu Alerts Holders Of Circulating Scams
Shiba Inu (SHIB) users are on high alert after security experts warned of a sophisticated new scam targeting cryptocurrency holders. The scheme involves scammers creating fake versions of popular wallet interfaces, such as MetaMask and Ledger, to trick users and potentially drain their funds.
These scammers are creating fake landing pages that closely mimic those of reputable wallets, aiming to deceive Shiba Inu holders into divulging sensitive information. Their ultimate goal is to gain unauthorized access to victims’ wallets, jeopardizing their digital assets.
Security is an integral criterion for attracting investments; hence, it is unclear how much negative PR this coin may have received. as a result of this buzz.
DigiHorse Offers Solace To Investors Amidst Market Tussles
DigiHorse (DIGI) is gaining momentum as a top contender to reach $1, driven by its innovative AI-powered NFT ecosystem and play-to-earn model.
The presale, featuring 450 million DIGI tokens at $0.003333, has generated substantial interest. Analysts predict a surge to $0.075 upon listing, representing a 21X increase and highlighting the token’s immense growth potential.
DigiHorse’s unique virtual NFT horse platform sets it apart, positioning it to capitalize on the shift towards interactive blockchain solutions and potentially outpace several altcoins.
Learn More About the Thrilling Opportunities of DigiHorse (DIGI) Presale Now!
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