Bitcoin Intraday Key Levels

The BTC/USDT pair has dropped 0.17% in the last 24 hours and is currently trading at $74,472. If Bitcoin (BTC) continues to rise, it could reach the next resistance level of $76,423, with the higher resistance zone around $76,800. Our support levels are at $72,600 and $69,600, respectively.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

Ethereum (ETH): The ETH/USDT pair has gained 7.95% in the last 24 hours and is currently trading at $2,799. Resistance levels for ETH are at $2,916, followed by $3,120. Support levels are at $2,690 and $2,550.

Arkham (ARKM): The ARKM/USDT pair has gained 5.01% in the last 24 hours and is currently trading at $2.10. Resistance levels for ARKM are at $2.22, followed by $2.55. Support zones are at $1.83 and, if the decline deepens, at $1.53.

Aptos (APT): The APT/USDT pair has gained 2.52% in the last 24 hours and is currently trading at $9.52. Resistance levels for APT are at $10.30, followed by $12.60. Support zones are at $9.18 and, if the decline deepens, at $8.29.

Alchemy Pay (ACH): The ACH/USDT pair has gained 10.74% in the last 24 hours and is currently trading at $0.0197. Resistance levels for ACH are at $0.020, followed by $0.0215. Support zones are at $0.0192 and, if the decline deepens, at $0.0177.

Trending Coins

In the last 24 hours, the trending coins in the crypto market include Ethervista (VISTA), Grass (GRASS), and MAGA (TRUMP). The top gainers are PiP (PIP), Moo Deng (MOODENG), and Lido Dao (LDO). On the list of top losers, you’ll find Michi ($MICHI), Gigachad (GIGA), and Quorium (QGOLD).

Bitcoin Liquidation Map

Looking at the 12-hour liquidation map of Bitcoin, the most notable liquidation on the upper side is at the $76,525 level with $35 million. On the lower side, the $74,663 level stands out with $48 million.

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According to Arkham Intelligence, Donald Trump currently holds around 579,290 TRUMP tokens, worth approximately $1 million. However, the MAGA Hat (MAGA) token, which is not directly affiliated with Trump, has also experienced a similar drop. According to CoinGecko data, MAGA token surged to $0.0002 following the election victory but has fallen 55% over the past 24 hours.

Other Trump-themed memecoins have also plummeted. Dark MAGA (DMAGA) dropped by 75%, Super Trump (STRUMP) by 50%, and MAGA: Fight for Trump (TRUMPCOIN) by 56%.

Donald Trump won the presidential election on November 6, surpassing the 270 electoral vote threshold with a total of 295 votes. Kamala Harris received 226 votes, with only 17 votes remaining to be counted in Nevada and Arizona.

Meanwhile, other memecoins saw gains. Dogecoin rose by 10% throughout the day, reaching $0.20, while Shiba Inu gained 6%, and the third largest memecoin by market cap increased by 18%. According to CoinGecko data, the rise of these memecoins continues.

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After a Manhattan jury found Trump guilty on 34 felony counts of falsifying business records, the market saw a surge in the token known as FreeTrump ($TRUMP), which spiked an astonishing 330% to trade at $0.019 within a single day. As reported by CoinGecko, a leading crypto price tracker. Similarly, the token Jeo Boden (BODEN) saw a notable rise of 9.2% during the same period, reaching $0.3319.

However, the positive momentum was short-lived for many Trump-related political memecoins, as prices dipped following news of Trump’s sentencing. The MAGA (TRUMP) token, linked to a wallet associated with the former president holding 580,000 coins, experienced a significant decline of 16.2% in the past day, plummeting to $11.54. Additionally, MAGA VP (MVP), a token presumably connected to Trump’s potential vice presidential pick. Suffered a similar fate, dropping 16.5% to approximately $0.48.

Cryptocurrency Reacts to Historic Verdict

Overall, the market capitalization of political finance memecoins, dubbed PolitiFi, saw a marginal decrease of 0.1% within the past day, totaling around $1.56 billion, according to CoinGecko’s findings.

Trump’s Guilty Verdict: On May 30, a Manhattan jury delivered a historic verdict, finding the former president guilty on 34 counts of falsifying business records. These charges stemmed from his lawyer, Michael Cohen, arranging a $130,000 payment to an adult actress in the lead-up to the 2016 presidential election. Trump’s sentencing is scheduled for July of this year, with a potential sentence of up to four years in prison.

This trial marks a significant moment in history, as it represents the first instance of a former United States president being tried and convicted on criminal charges.

Cryptocurrency and Trump’s Public Image: Beyond the legal implications, Trump’s association with cryptocurrency has also made headlines. Trading volume for the “Trump Digital Trading Card Collection” witnessed a staggering 99% decline ahead of his April criminal trial. Originally unveiled by his team in December 2022, the collection consisted of 45,000 NFTs priced at $99 per token. As previously reported by The Block.

As speculation swirls about Trump’s future. The volatile nature of political memecoins underscores the complex relationship between digital assets and high-profile political events.

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BONK Ignites a Bullish Run

The value of BONK more than doubled this month, recording a staggering 118% increase from its April low. This impressive performance makes BONK the top performer among its meme coin peers and aligns with a broader market recovery in the crypto space.

Analysts suggest that BONK’s rapid ascent is partly due to investors capitalizing on recent price drops. Historically, assets tend to experience corrective rebounds after significant declines, and BONK’s comeback reflects this trend. Additionally, BONK is benefiting from a resurgence of interest in meme coin projects.

Meme Coin Mania Returns

Other meme coins like PEPE, dogwifhat (WIF), and MAGA (TRUMP) have also seen significant gains, indicating a renewed appetite for these playful tokens. Market data highlights a surge in trading activity alongside BONK’s rise. CoinGecko reported a massive jump in trading volume on April 24th, reaching over $531 million compared to $177 million the day before.

This investor enthusiasm for BONK and similar meme coins could signal a shift in market sentiment, potentially ushering in a period of risk-on trading behavior. As meme coins continue to capture market attention, BONK’s recent performance could be the beginning of a parabolic bull run for the viral token.

BONK Chart Analysis: A Technical Look

BONK’s impressive rise has grabbed the attention of crypto enthusiasts, and for good reason. The 4-hour chart reveals a bullish picture with BONK breaking above the .382 Fibonacci resistance level, reaching $0.00002659 with a 7.35% daily gain. The chart suggests a strong upward trend, and the Fibonacci retracement highlights a significant recovery from recent lows. A sustained close above the base support (green line) hints that BONK could be headed towards the next 0.5 Fib level (blue line), setting a new monthly high.

The Relative Strength Index (RSI) is trending upwards, indicating positive momentum, but remains below the overbought zone. This suggests that BONK’s growth could continue without an immediate pullback. As BONK charts its recovery path, it remains a token to keep an eye on in the coming days, with investors eagerly waiting to see the next move in the ever-volatile meme coin market.

The post BONK Meme Coin Makes a Splash in the Crypto Market appeared first on Coin Engineer.