The Crypto market’s pioneering virtual currency, Bitcoin (BTC), touched the $73,000 mark yesterday, marking a new significant high amid its historical price action. This bullish momentum has sparked a frenzy of trading activities, with investors capitalizing on the upward trend.
Consequently, numerous altcoins, including BONK, PEPE, JUP, and Green Bitcoin, have followed suit, propelling the broader market into an upward trajectory. These cryptocurrencies have experienced notable gains, riding the wave of the overall market’s positive sentiment.
While the overarching bullish trend and Bitcoin’s influence are undeniable factors driving the gains of these assets, we’d delve deeper and investigate whether there are other variables contributing to their remarkable performance.
Keep reading as we scrutinize each asset individually, uncovering the potential catalysts behind their respective rallies today.
Bonk (BONK) – Attention-garnering Meme Coin on The Solana Ecosystem
The Solana-based meme coin, Bonk (BONK), is boasting over 17.01% in its daily increase today, with the price at $0.00003349. Its 24-hour trading volume has pumped alongside by 149.45, to over $1.01 billion, ranking as the number 20 digital asset with the highest trading volume.
Apart from the overall bullish market trend and Bitcoin’s impact on altcoins, the surge in BONK’s price can be attributed to the heightened on-chain activity witnessed on the Solana network, which serves as its launchpad.
The recent outage on Solana has paradoxically drawn attention to the network’s robustness and scalability, attracting both institutional investors and retail traders alike.
This increased interest has bolstered the long-term bullish outlook for the ecosystem and fueled a massive demand for its native meme coins, particularly BONK and dogfight (WIF).
The meme coin craze on Solana has been a driving force behind BONK’s rally as investors seek to capitalize on the hype and potential gains associated with these lighthearted digital assets.
The combination of Solana’s growing popularity, the network’s ability to handle high transaction volumes, and the insatiable appetite for meme coins has created a perfect storm for BONK’s ascent.
BONK Pushes Upward Amid Bullish Market Trend – Can It Break Above the Highest Swing High?
In the chart above, BONK is forming green candle sticks, indicating an increase in buying pressure today. It is trading above its Middle Bollinger Band, a dynamic support level that stands to cushion the price when it dips.
Again, the coin’s Relative Strength Index (RSI) is at 66.22, moving upward toward the overbought market region (above 70).
As the buying pressure remains persistent, the RSI could reach 70 and above, representing continuous price gains before reaching the overbought region. While BONK shows an overall bullish trend, traders and investors are looking out for a breakout at the $0.00005479 high.
Nevertheless, strategic risk management practices should be in place because the coin has a dynamic resistance marked by the Upper Bollinger band. As with all digital assets, BONK’s price could respect this zone, retracing to the downside.
So, in this case, it’s advisable to set stop-loss and take-profit levels to make the most of your trading decision.
Pepecoin (PEPE) is a Popular Frog-Themed Meme Coin with Enriching Potential
The digital currency market is abuzz with excitement over Pepe coin’s remarkable climb in value, as it managed to shed a zero from its price tag.
Today, March 14, this meme-inspired cryptocurrency, featuring a frog as its mascot, surged by an impressive 16%, sparking keen interest among investors eager to capitalize on its ascent.
Adding to the hype, a notable transaction involving Pepe Coin saw 500 billion tokens transferred to the exchange Binance, suggesting a profit-taking strategy at play.
This movement, valued at $4.26 million, coincided with a bullish trend spanning ten days, potentially resulting in a hefty profit of $3.39 million for the entity behind the transaction.
Despite selling a significant portion, the whale still holds 100 billion tokens, indicating enduring confidence in Pepe Coin’s future prospects. Presently, PEPE demonstrates robust performance, with a 15% increase in price, pegging its value at $0.00001037.
However, these fluctuations, including highs of $0.00001074 and lows of $0.000008423 over 24 hours, underscore the inherent volatility of the crypto market. With its value soaring approximately 850% over the past month, Pepe Coin solidifies its standing as a significant contender among meme currencies.
Will this price growth continue, or is there a retracement in the pipeline?
PEPE Upholds its Uptrend with an Impulsive Move after the Breakout – Will It Continue or Dip?
PEPE coin has remained bullish, with a series of higher highs and higher lows in the long run. It is trading above its 50-day and 200-day Simple Moving Average (SMA), indicating that the market’s overall trend in the short and long term is bullish.
The coin has formed two consecutive green candle sticks, which indicates prevalent buying pressure in the last two days. With these combined, PEPE is expected to regain its position at $0.00001 and beyond. On the other hand, the coin is trading far above its dynamic supports, as marked by the SMA indicator.
As such, any increase in selling pressure could lead to a dip. For this reason, it’s advisable for traders and investors to adopt ideal risk management tactics to remain profitable in the market. Besides setting stop-losses and taking profit zones, it’s ideal to only risk an amount you could afford to lose.
Jupiter (JUP) – The Solana Swap Aggregator
JUP has posted impressive figures in the last 24 hours as the buyers accumulate the tokens again. Notably, JUP has gained 9.6% today and is up 38.6% this week due to positive market conditions and some positive ecosystem developments.
One factor within the Jupiter ecosystem supporting the price gains is the partnership between the Jupiter Work Group (JWG) and the Wen Work Group.
Beyond thrilled to share that our latest Jupiter Work Group (JWG) will be in partnership with the cutest cat in web3 – the WEN Work Group!
WEN was of course the first coin to launch on the LFG launchpad and has since grown into an all star coin with one of the best communities… pic.twitter.com/503Tu4X75T
— Jupiter 🪐 (@JupiterExchange) March 13, 2024
According to the Jupiter team, WEN was the first coin to launch on the LFG launchpad and has become a strong coin with massive community support. So, WEN Work Group is committed to contributing great content and support to Jupiter.
Jupiter’s rising profile is likely to boost the JUP token’s price shortly after its launch. Although JUP has dropped below its all-time high value, its recovery in the past week likely hints at a return to that level. On the daily chart, JUP shows a strong bullish pattern, confirming pressure from the buyers.
JUP Approaching $0.93 Resistance Level, Will It Rally to $1?
JUP has formed three consecutive green candles on the daily chart as the buyers force a rally above the $0.91 resistance level, flipping it to support. Also, the long upper wick on today’s candle confirms an attempt to overcome the $0.93 resistance level from the buyers. If this happens, then a break above $1 will be possible for JUP.
Also, JUP is trading above the upper Bollinger Band, confirming strong bullish pressure. This suggests that more traders are opening long positions, hoping to make a profit. In addition, the bullish trend is confirmed by the RSI indicator rising in the overbought region above 70 with a value of 77.14.
Therefore, JUP will likely break above $0.93 and rally to E1 in the coming days based on the positive market trend.
Green Bitcoin (GBTC) – The Predict-To-Earn Ecosystem for Rewards
Green Bitcoin is a ground-breaking project that successfully combines Bitcoin’s legacy with Ethereum’s energy-conservative blockchain. Notably, green Bitcoin uses a gamified Green Stake-to-Earn model for passive income. So, users who stake the native GBTC tokens will earn exciting rewards.
Green Bitcoin utilizes the Proof-of-Stake (PoS) consensus mechanism and is 10,000 times eco-friendlier than the original Bitcoin blockchain. Notably, a reward pool of 5.8 million GBTC tokens has been reserved as staking rewards, representing 27.50% of the total supply.
GBTC Hits Another Presale Milestone
An unbelievable achievement for the future of crypto, and our incredible community!
Let’s hear it for GREEN! pic.twitter.com/mk0kGrXrVn
— GreenBitcoin (@GreenBTCtoken) March 13, 2024
GBTC’s ongoing presale has surpassed the $4 million mark, confirming massive interest from the crypto community. Currently, each token is worth $0.9162 at this stage and can be purchased with multiple options such as swapping with ETH, USDT or paying with bank cards.
The presale success is likely a result of the massive utility of the project and its affiliations with Bitcoin.
Green Bitcoin Predict-to-Earn Will Likely Lead to Ecosystem Growth
Visit Green Bitcoin Presale
Green Bitcoin provides users with daily staking rewards equivalent to Bitcoin’s price movement. So users can stake their tokens and forecast whether Bitcoin’s price will rise or fall the next day. Also, GBTC shares similarities with Bitcoin’s block time. Therefore, rewards are paid out every 10 minutes.
This prediction system encourages $GBTC holders to monitor and predict the price of Bitcoin actively. Additionally, it boosts the utility of the GBTC tokens and promotes engagement from its community. Note that daily stakeholders receive rewards based on the size of their stakes.
Conversely, weekly stakers will earn 5% on their daily staking rewards for their extra commitment. Overall, Green Bitcoin will likely be one of the tokens to look out for during this bull run. However, investors must conduct proper research before committing to any crypto investment.
Verdict
The crypto market continues to impress with notable gains recorded in the last 24 hours. One exiting fact is that the Bitcoin Halving will likely trigger further highs for BTC leading to an improved performance for altcoins. Nevertheless, investors must apply proper risk management techniques such as trailing stop loss and expect possible retracements for consolidation.
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