spot_imgspot_imgspot_img

Three Altcoins to Watch Out for Next Week: Where Could Their Prices Head?

  • Pepe Coin (PEPE) is experiencing price uncertainty due to a large transfer of tokens to various exchanges by the team behind it.
  • The unlocking of Avalanche (AVAX) tokens has had an impact on its price.
  • BNB Coin (BNB) is struggling with providing liquidity and future uncertainty.

Investors in the cryptocurrency market need to be aware of which digital currencies are worth their time and money. Understanding which cryptocurrencies to avoid is also an art that can prevent investors from losing money in this vast field. This article provides a brief list of cryptocurrencies that traders and investors should be cautious about in the coming week due to high uncertainty.

What’s Happening with Pepe (PEPE) Coin?

Investors in Pepe Coin were thrown into a panic when the team behind it transferred a significant amount of PEPE to several exchanges. This meme coin experienced a speculative surge in buying demand earlier this year, despite a lack of clear ‘user demand’. This move by the creators could pose a real threat to PEPE’s price in the coming days. The fear has already reflected in the meme token prices, with PEPE losing more than 17% of its value 24 hours after the team’s transaction.

Avalanche (AVAX) Price Impact

Avalanche unlocked a significant amount of AVAX tokens as part of a scheduled unlocking program. This unlocked amount equals 2.77% of this cryptocurrency’s circulating supply. AVAX experienced losses exceeding 8% a week before the unlocking of the tokens, as the market was already pricing in the potential impact of a significant sudden increase on the current supply.

The Future of BNB Coin (BNB)

Recently, more than $30 million in liquidity was provided in BNB due to a drop in the native token of BNB Chain. However, the threat of further liquidation continues to loom over Binance’s crypto asset. There is still a significant amount of BNB in the Venus Protocol’s vault, which could be lost to a hacker in 2022. BNB was trading at $216.68 on August 25, with the next support price set at $198, indicating that a 9% drop could trigger further losses.

Conclusion

Investors should always remember that cryptocurrencies carry a high level of volatility and risk. Therefore, they should conduct their transactions based on their own research. This article is not intended to provide investment advice. Follow us on Telegram, Instagram, Facebook, Twitter, and Youtube for more updates.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news

spot_imgspot_imgspot_imgspot_img

Latest News

US Dollar’s True Nemesis: Fiscal Irresponsibility, Not Bitcoin, Warns Top Economist

According to economist Daniel Lacalle, the US dollar faces a significant threat from within due to unsustainable fiscal policies, overshadowing the perceived risk from cryptocurrencies like Bitcoin.

Bitcoin Profitability Soars to 97%, Highest in Over Two Years

Bitcoin's remarkable price surge has propelled the majority of BTC addresses into a profit zone not seen in over two years, highlighting the cryptocurrency's strong market performance and promising future.

Morgan Stanley Eyes Bitcoin ETFs for Indirect Crypto Exposure

Morgan Stanley's recent SEC filing to gain Bitcoin exposure through ETFs marks a significant step towards integrating cryptocurrencies into traditional investment portfolios, potentially boosting the adoption and price of Bitcoin.

Bitcoin ETF Surge: BlackRock and Fidelity Lead with 79% of Inflows into the ‘Newborn Nine’

This article delves into the explosive growth of Bitcoin ETFs, highlighting the market dominance of BlackRock and Fidelity, the impact of fee reductions among competitors, and the broader implications for the cryptocurrency investment landscape.

Bitcoin, The 21st Century’s Berkshire Hathaway, Says SkyBridge’s Scaramucci

In a bold statement, Anthony Scaramucci of SkyBridge Capital compares Bitcoin to Berkshire Hathaway, suggesting that the cryptocurrency holds significant long-term value and wealth generation potential akin to the conglomerate led by Warren Buffett.
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Ethereum Breaks $3K as Rally Continues: What’s Next for ETH?

This article dives into Ethereum's recent surge past $3,000, analyzing the technical indicators and market dynamics driving its ascent and future prospects.

Will Bitcoin Rise To $50,000? Current BTC Analysis

Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 - $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.

Where is the Solana Rise Target? Current SOL Analysis!

Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.

Medium Term Ethereum Technical Analysis! What Awaits Its Investors?

When examining the medium-term technical chart of Ethereum, strong buying pressure is observed, pushing the price up from the $2139 support to the $2350 region. However, for the price to sustain its upward movement, it needs to surpass the $2407 resistance.

Can Bitcoin Fall To $35,000 Levels? Current BTC Analysis

When examining Bitcoin's 5-day technical chart, the analysis from January 18 is ongoing, indicating a continued downward movement from the $48,189 level. Bitcoin needs to close 5-day candles above the $44,200 resistance to gain momentum for an upward trend. 
Gideon Wolf
Gideon Wolfhttps://en.coinotag.com/
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.
spot_imgspot_imgspot_imgspot_img

US Dollar’s True Nemesis: Fiscal Irresponsibility, Not Bitcoin, Warns Top Economist

According to economist Daniel Lacalle, the US dollar faces a significant threat from within due to unsustainable fiscal policies, overshadowing the perceived risk from cryptocurrencies like Bitcoin.

Bitcoin Profitability Soars to 97%, Highest in Over Two Years

Bitcoin's remarkable price surge has propelled the majority of BTC addresses into a profit zone not seen in over two years, highlighting the cryptocurrency's strong market performance and promising future.

Morgan Stanley Eyes Bitcoin ETFs for Indirect Crypto Exposure

Morgan Stanley's recent SEC filing to gain Bitcoin exposure through ETFs marks a significant step towards integrating cryptocurrencies into traditional investment portfolios, potentially boosting the adoption and price of Bitcoin.