Mooners & Shakers: Crypto ‘canines’ having their day

Each cash appear to have hit a wall in the meanwhile, although, whereas canine cash helicopter-wag their tails up.

Welcome to Monday in crypto…

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High 10 overview

With the general crypto market cap at US$1.21 trillion and down a bit for the reason that weekend highs, right here’s the present state of play amongst prime 10 tokens – in accordance with CoinGecko.

Look who’s poked its nose back into the top 10.

Elon “The Dogefather” Musk’s favourite crypto, Dogecoin (DOGE) has memed its way past smart-contract platform Polkadot (DOT), which is now sitting just outside at #11 and wondering if that orange speck at No.12 is getting closer. It is.

And that’d be Shiba Inu (SHIB), which is on a tear today and is currently up about 34% over the past 24 hours. What’s with the doggy pumps then? It’s not always easy to tell, but this weird, strangely popular crypto category does often tend to rise as one.

A look at the top-performing memecoins over the past day, for instance, and Coingecko data tells us it’s populated by dog sh*tcoins… using the term in er, the nicest possible way.

Something called Woofy (WOOFY) heads the pack with a 92% gain, while the likes of SHIB, Kuma Inu (KUMA; 38%) Dogelon Mars, Floki Inu, JejuDoge, Akita Inu, Poodl, Australian Safe Shepherd (ASS) and DogeBonk (shall we go on?) are all barking up the right sick-gainz tree.

But as for the headline act, which is Shiba Inu atm (apologies DOGE)… we can at least pinpoint the following token-burning reason, courtesy of this SHIB fan account…

One phrase of warning, although, loads of merchants have been pointing to a head and shoulders (bearish) sample on SHIB’s technicals, with a day by day shut needing to verify above the $0.00013 stage for the bullish momentum to doubtlessly proceed or at the very least maintain.

Excellent news is, with the day by day shut (EDT time) approaching, SHIB is nicely above that mark in the meanwhile ($0.000017).

DOGE, in the meantime, seems fairly good on the charting for now, having breached upwards by means of a “symmetrical triangle” that was appearing as a consolidation zone for the previous few months, as proven under. Presumably fairly bullish if it might affirm that upwards leg-humping motion.

Uppers and downers: 11–100

Sweeping a market-cap vary of about US$10.4 billion to about US$508 million in the remainder of the highest 100, let’s discover among the greatest 24-hour gainers and losers at press time. (Stats correct at time of publishing, based mostly on CoinGecko.com knowledge.)

DAILY PUMPERS

• Shiba Inu (SHIB), (mc: US$10.1 billion) +34%

• Chiliz (CHZ), (mc: US$1 billion) +11%

• Dogecoin (DOGE), (mc: US$10.7 billion) +9.5%

• Tenset (10SET), (mc: US$613 million) +7%

• Gala (GALA), (mc: US$545 million) +7%

DAILY SLUMPERS

• Lido DAO (LDO), (mc: US$1.49 billion) -8%

• BitDAO (BIT), (mc: US$678 million) -7%

• Quant (QNT), (market cap: US$1.6 billion) -6%

• Tezos (XTZ), (market cap: US$1.65 billion) -5%

• Maker (MKR), (market cap: US$921 million) -5%

Across the blocks

A collection of randomness and pertinence that caught with us on our day by day journey by means of the Crypto Twitterverse…

Peter Schiff would possibly simply be the largest gold fan since Francisco Pizarro and is an unrelenting Bitcoin hater, so it’s laborious to fully belief his technical evaluation right here. That mentioned, simply to maintain an open thoughts on ideas from one of many greatest crypto bears round…

… who by the way simply agreed to place his Euro Pacific Financial institution into liquidation. And that, unsurprisingly, makes loads of headlines on Bitcoin-focused websites.

Somebody countering that outlook, nonetheless, is the famous “international macro dealer” Mark Dow, who apparently “completely” referred to as the 2017/18 BTC prime and backside, in accordance with standard YouTuber Crypto Zombie.

Dow tweeted the next phrases:

“Bear market is over. Doesn’t matter if we right, dip, pullback, no matter. It’s over,” including: “We’re overbought brief time period, tho.”

Hope, Michael Saylor? Or hopium? Both manner, this column’s writer is holding his BTC, ETH and varied different sh*tcoins, on the time of writing, and perhaps even dollar-cost averaging into the highest two.

That mentioned, none of something introduced right here must be taken as monetary recommendation, in fact.

Mooners and Shakers is sponsored by Dacxi, the world’s first purpose-built Crypto Wealth platform.

This content material first appeared on stockhead.com.au

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