Bitcoin Intraday Key Levels

BTC/USD has lost 2.91% in the last 24 hours and is currently trading at $86,237. Bitcoin (BTC) continued its decline after losing the $92,053 support. To regain momentum, it must close above the $92,053 resistance level. Support levels: $85,414 – $81,337. Resistance levels: $92,053.

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Ethereum (ETH): ETH/USDT has dropped 5.93% in the last 24 hours and is now trading at $2,349. Support levels: $2,366 – $2,162. Resistance levels: $2,532 – $2,724.

Stacks (STX): STX/USDT has gained 11.28% in the last 24 hours and is currently trading at $0.878. Support levels: $0.815 – $0.745. Resistance levels: $0.885 – $0.978.

Optimism (OP): OP/USDT has risen 8.45% in the last 24 hours and is trading at $1.185. Support levels: $1.049 – $0.933. Resistance levels: $1.212 – $1.319.

dogwifhat (WIF): WIF/USDT has increased 7.70% in the last 24 hours and is now trading at $0.610. Support levels: $0.546 – $0.503. Resistance levels: $0.622 – $0.719.

Trending Coins

The most trending coins in the last 24 hours: MyShell (SHELL), KAITO (KAITO), Story (IP). Top gainers: KAITO (KAITO), Safe (SAFE), Aethir (ATH). Top losers: BTSE Token (BTSE), LCX (LCX), Tokenize Xchange (TKX).

Bitcoin Liquidation Map

The 12-hour Bitcoin liquidation map highlights key levels: Upside: $86,992 level with $12.93 million in liquidation. Downside: $83,576 level with $30.36 million in liquidation.

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Important Intraday Levels for Bitcoin

The BTC/USD pair has decreased by 0.1% in the last 24 hours and is currently trading at $102,788. Bitcoin (BTC) has broken the $101,545 resistance and moved to a higher range; if it continues to rise from here, the resistance level is $105,766. Support levels are at $102,599 and $101,545.

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Ethereum (ETH): The ETH/USDT pair has lost 1.28% in the last 24 hours and is currently trading at $3,152. For ETH, resistance levels are first at $3,217, followed by $3,290. Support levels are at $3,091 and $2,994.

dogwifhat (WIF): The WIF/USDT pair has gained 13.12% in the last 24 hours and is currently trading at $1.298. For WIF, resistance levels are first at $1.459, followed by $1.565. Support zones are at $1.247, and if the decline deepens, at $1.075.

Uniswap (UNI): The UNI/USDT pair has increased by 7.77% in the last 24 hours and is currently trading at $12.013. For UNI, resistance levels are first at $12.398, followed by $14.023. Support zones are at $11.242, and if the decline deepens, at $10.847.

Ondo (ONDO): The ONDO/USDT pair has risen by 4.08% in the last 24 hours and is currently trading at $1.3961. For ONDO, resistance levels are first at $1.4233, followed by $1.4934. Support zones are at $1.2948, and if the decline deepens, at $1.2269.

Trending Coins

In the last 24 hours, the most trending coins in the crypto market are Reploy (RAI), Venice Token (VVV), and Mochi (MOCHI). The top gainers are XYO Network (XYO), Spell (SPELL), and Movement (MOVE). The top losers are Venice Token (VVV), Solana Swap (SOS), and Toshi (TOSHI).

Bitcoin Liquidation Map

Looking at Bitcoin’s 12-hour liquidation map, the prominent liquidation on the upper side is at the $103,739 level with $30.13 million. On the lower side, the $99,242 level stands out with $24 million.

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Key Intraday Levels for Bitcoin

The BTC/USDT pair has lost 2.68% in the last 24 hours and is currently trading at $93,102. Bitcoin (BTC) has broken the previously highlighted $94,703 support level, undergoing a significant correction. Should it recover, the $94,703 level will act as resistance. Key support levels are $93,138 and $92,503.

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Ethereum (ETH): The ETH/USDT pair has dropped 1.63% in the past 24 hours and is now trading at $3,300. Resistance levels for Ethereum (ETH) are $3,440 and $3,535, while support levels are $3,290 and $3,217.

Neo (NEO): The NEO/USDT pair has gained 5.41% over the last 24 hours and is trading at $15.10. Resistance levels for NEO are $15.80 and $17.05, with support zones at $14.77 and, if further declines occur, $13.55.

Dogwifhat (WIF): The WIF/USDT pair has dropped 13.36% in the last 24 hours, currently trading at $1.60. Resistance levels for WIF are $1.72 and $1.95, while support zones are $1.565 and $1.46 if the drop continues.

Movement (MOVE): The MOVE/USDT pair has seen a 10.90% decline over the last 24 hours, trading at $0.85. Resistance levels for MOVE are $0.925 and $1.02, while support zones are $0.83 and $0.74 for deeper corrections.

Trending Coins

The most trending coins in the market over the past 24 hours include Seedify.fund (SFUND), Butthole Coin (BUTTHOLE), and ai16z (AI16Z). Top gainers are Gas (GAS), Akuma Inu (AKUMA), and Siacoin (SC). On the other hand, the top losers list features ai16z (AI16Z), Swarms (SWARMS), and Fartcoin (FARTCOIN).

Bitcoin Liquidation Map

Looking at the 12-hour Bitcoin liquidation map, significant liquidation zones are:

• $95,340 with a $33.52 million liquidation overhead.
• $92,479 with a $13.21 million liquidation below.

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Current State of the Memecoin Market

The volatility in December highlighted a loss of momentum and demand for memecoins. As of December 27, the total market capitalization of memecoins is at $98.72 billion, reflecting an 18% decline from the start of the month.

Pepe and Exchange Listings Dominate December

One of the most notable movements in the memecoin market came from Pepe (PEPE). Pepe mirrored the general price trends in the market, reaching $0.000026 on December 9 before falling to $0.000017 on December 20.

On December 4, Binance.US listed Pepe, marking a key development that drove the token’s price surge. Beyond Binance, Coinbase also listed memecoins such as Moodeng (MOODENG), Mog (MOG), and Dogwifhat (WIF).

Pepe’s market capitalization saw a massive increase following its listing. Starting 2024 with a market cap of around $591 million, Pepe’s valuation skyrocketed to over $11 billion after the listing, representing an 18x growth since the beginning of the year.

Throughout 2024, strategic investments in the memecoin market led to massive profits for some investors. For example, in April, one trader invested $3,000 in Pepe tokens, which surged in value to $46 million within a month.

In December, another investor, who had remained dormant for 600 days, spent just $27 to buy Pepe tokens and later moved their holdings to a new address. According to on-chain analytics firm Lookonchain, this trader achieved an incredible 1,900,000x return, transferring about $52 million worth of Pepe tokens.

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Solana DApps Shine Amid Memecoin Frenzy

On November 17, Solana’s Raydium, an automated market maker, generated a record $11.31 million in fees. Similarly, the liquid staking protocol Jito recorded its third-highest daily fee earnings at $9.87 million. Memecoin-focused platforms also joined the surge, with pump.fun, a memecoin launchpad, netting $1.65 million in fees, marking its seventh-highest earning day.

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Additionally, Photon, a Telegram trading bot tailored for Solana-based memecoins, saw its fifth-highest daily fees at $2.36 million.

This spike in activity coincides with SOL, Solana’s native token, reaching a peak of $242, its highest price since November 2021. The Peanut (PNUT) memecoin, inspired by a squirrel mascot, skyrocketed over 2700% in two weeks, hitting a valuation of $2.4 billion on November 14. Notably, Elon Musk’s repeated mentions of Peanut on X amplified its popularity.

Key Milestones for Memecoins on Solana

The largest Solana memecoin, Dogwifhat (WIF), was recently listed on Coinbase, spiking to a six-month high of $4.19 on November 15. Meanwhile, the creation of the U.S. Department of Government Efficiency, with an abbreviation matching Dogecoin’s DOGE ticker, spurred additional gains for DOGE, which surged 140% over the past two weeks.

Currently trading at $234, SOL is within 8.5% of its all-time high of $259 set in November 2021. However, its market capitalization, now at $112 billion, has grown 44% from the previous peak of $77 billion. This growth aligns with Solana’s inflationary mechanism, rewarding stakers with newly minted SOL.

At present, Solana’s inflation rate is 4.9% and is programmed to decrease by 15% annually, according to SolanaCompass data.

As Solana solidifies its position in the blockchain space, the combination of high-performance DApps, a memecoin resurgence, and SOL’s market momentum underscores the network’s dynamic growth. The coming months may further illuminate Solana’s potential in the ever-evolving cryptocurrency landscape.

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WIF Technical Analysis

WIF has continued to attract the attention of investors in recent weeks, and it is observed that the price is stuck at certain support and resistance levels. When we look at the price movements of WIF, we can say that the 2.3 USDT level is a critical support. Falling below this level could lead to an acceleration of the downtrend and a test of the 2.2 USDT level. However, if buyers increase their strength, the first resistance level is 2.4 USDT. A permanent move above this level could lead to a test of the 2.5 USDT level.

The upcoming US elections and the widening gap between Kamala Harris and Donald Trump according to bets are also positive developments for the cryptocurrency sector.

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Over the past two weeks, two whale wallets have accumulated a total of 20.58 million WIF, equivalent to roughly $33.35 million. These large-scale acquisitions have fueled optimism around WIF’s future prospects. On-chain data reveals that two addresses, in particular, have been actively buying substantial amounts of WIF from exchanges like Binance and Bybit. September is typically characterized by weak market performance, but it seems these whales are capitalizing on this period of uncertainty.

The price chart indicates a breakout from a long-term descending wedge pattern. Since April 2024, the memecoin has been in a downtrend, but recent price action suggests the formation of a double bottom reversal pattern, hinting at potential upward movement.

Technical indicators such as the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are also signaling bullish momentum, increasing the likelihood of a price breakout. Analysts believe that if WIF continues on its current path, it could easily surpass the $2 mark and extend its rally.

On the 4-hour chart, Dogwifhat has broken out of a triangle formation and crossed above the 200-day exponential moving average (EMA). This breakout has intensified upward pressure, with analysts focusing on the Fibonacci levels at $2.04 and $2.52. If the current trend holds, Dogwifhat could clear key resistance levels with ease. Investors in memecoins are closely monitoring WIF’s price action, eager to see where it heads next.

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Glassnode analyst James Check highlighted that this year’s bull market is shaping up to be quite different compared to the one in 2021.

Chasing Quick Gains

Check pointed out that in 2021, investors poured substantial amounts of money into Bitcoin, Ethereum, Layer-1, and DeFi markets. However, he notes that today’s investors are more focused on making quick money, often by chasing the “most foolish coins” in the market.

According to the Glassnode analyst, with the approval of spot Bitcoin ETFs earlier this year, a significant number of investors have funneled their money into memecoins rather than utility tokens. Instead of putting their money into tokens with actual use cases, many have flocked to memecoins like PEPE.

PEPE delivered a phenomenal performance in the first half of the year, with some investors reaping substantial profits. One investor, for instance, turned a $3,000 investment in April into a staggering $46 million.

Will the Altcoin Market Heat Up?

Despite the rise in prices and trading volumes of memecoins like PEPE and dogwifhat (WIF), other altcoins have not benefited from this trend, according to Check.

Some analysts, however, believe this could change soon. Luke Martin recently remarked that the current market conditions might even justify selling a house to invest in altcoins.

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In the memecoin market, one of the most talked-about tokens of recent times is witnessing its largest whale making significant purchases again.

On-chain data reveals that the top whale of the dogwifhat (WIF) memecoin has purchased 800,556 WIF tokens at an average price of $1.92, amounting to a total of $1.54 million.

Currently, this whale holds 28 million WIF tokens valued at $53.23 million. With previous sales, the whale has amassed profits exceeding $77 million.

Whales, who control a significant portion of a token’s supply, are typically known for making headlines with their sell-offs rather than their buys. Therefore, this whale’s decision to purchase WIF is particularly noteworthy.

WIF was one of the standout stars during the surge of Solana-based memecoins. At the time of writing, WIF ranks as the fourth-largest memecoin globally, following Dogecoin, Shiba Inu, and PEPE, with a total market capitalization of $472 million.

Over the past week, WIF has seen an impressive 30% rally.

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The Biggest Losers

JasmyCoin (JASMY): Once a popular altcoin, JASMY has seen a dramatic 31.20% decline in the past 24 hours. The coin has been particularly hard hit by futures market activity.

dogwifhat (WIF): This Solana-based memecoin has lost 30% of its value in the past day. The coin has been under significant selling pressure due to open interest and overall market sentiment.

Lido DAO (LDO): Despite the anticipated launch of spot ETH ETFs, LDO has experienced a sharp decline. With ETH losing over $2500, LDO has lost several support levels.

Brett (BRETT): As one of the most popular memecoins on the Base network, BRETT has been on a downward trend. The underperformance of the Base network compared to Solana and Ethereum has contributed to this decline.

Pepe (PEPE): Ethereum’s leading memecoin, PEPE, has continued to face selling pressure. The coin has lost 27.70% in the past 24 hours.

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