Richestman

Efficiency #doge⚡ #MemeCoinTrending #Dogesoars

Elon Musk held a town hall in Folsom, Pennsylvania on Thursday where he gave a plug to Dogecoin, causing the price of the memecoin to surge 15% in 24 hours.
Speaking to promote Donald Trump’s presidential candidacy, an audience member asked the tech billionaire about an idea he has floated to create a “Department of Government Efficiency.”
“Yeah, D.O.G.E.” Musk replied, leading to the crowd cheering and applauding—and the price of Dogecoin shooting up as word of the remark traversed social media.
The crowd cheered and applauded as Elon smiled. The mere mention of the coin sent it up.
The episode came at a time when Musk is throwing his fortune and influence behind Trump. He recently  committed $75 million to help Trump and other Republicans get elected through his America PAC. In September, Trump promised to appoint Musk the head of a new department to oversee and mitigate government spending.
Many crypto enthusiasts are betting that Trump will pursue a more friendly regulatory agenda for crypto, and that prices of Bitcoin and other assets will jump.
Musk has a long history of promoting Dogecoin, which led to a class action lawsuit accusing him of a pump-and-dump scheme to intentionally inflate the coin. That lawsuit was thrown out in August.
The coin’s market cap reached an all-time high of $88 billion in May 2021, after multiple endorsements from Musk including an SNL sketch where he proclaimed himself “dogefather.” In 2023, the coin jumped 30% after Musk briefly changed the twitter logo to a picture of a Shiba Inu, the iconic dog breed associated with the Doge meme.
Dogecoin is the world’s eight largest cryptocurrency and its market capitalization rose to to $20 billion on the Musk announcement. In the past day, it has outpaced Bitcoin, which rose 3%, as well as the broader crypto market.
Dogecoin fell to lows of $0.05 in late 2023 before rebounding to $0.22 in March, as Bitcoin reached an all-time high of $73,000 associated with the approval of spot Bitcoin exchange-traded funds.
In June, the memecoin slumped 10% amid concerns about interest rates causing investors to dump Dogecoin and opt for safer assets. Since then, it has held around $0.10.

#Dogearmy #doge⚡
Dogecoin (CRYPTO: DOGE) has minted a lot of millionaires since its launch in December 2013. The cryptocurrency was originally created as a parody of Bitcoin (CRYPTO: BTC) by two software engineers, Billy Markus and Jackson Palmer, and named after the viral "doge" meme, which features a Shiba Inu dog. Dogecoin was first traded at just $0.001540753 on Jan. 23, 2014
But by the beginning of 2021, its price had risen to $0.01 and had caught the attention of mainstream investors. After a series of bullish endorsements from big celebrities like Elon Musk, Mark Cuban, and Snoop Dogg, its price soared to an all-time high of $0.73 on May 8, 2021. A $10,000 investment in Dogecoin on the first day would have grown to $4.74 million by now.
But today, Dogecoin trades at about $0.12. The altcoin lost its luster as rising interest rates drove investors away from cryptocurrencies and other speculative investments. However, that $10,000 investment in 2014 would still be worth nearly $779,000 today. Dogecoin remains a divisive cryptocurrency, but some bullish investors believe the altcoin's price could rally back to its record high and eventually reach $1.
So should you buy Dogecoin while it's still trading far below that level?

THE DIFFERENCE BETWEEN DOGECOIN AND OTHER CRYPTOCURRENCIES
Dogecoin was created from the open-source code for Litecoin (CRYPTO: LTC), a token that was forked from Bitcoin's blockchain in 2011. Like Bitcoin and Litecoin, Dogecoin was mined with the energy-intensive proof-of-work (PoW) consensus mechanism. However, Dogecoin's developers subsequently launched a new hashing algorithm called Scrypt, which consumed less power and processed transactions at a faster rate than Bitcoin's own mining algorithm. This version of Dogecoin can process retail transactions quickly, perhaps making it a useful real-world payment tool someday, but at the cost of less robust data security. The upgrade attracted more attention from online supporters who called themselves the "Doge Army."
But unlike Bitcoin, which has a maximum supply of 21 million tokens, Dogecoin doesn't have an ultimate supply cap. There are currently 146.3 billion Dogecoins in circulation, and that supply is increasing by about 10,000 tokens per minute. That ballooning supply could make it difficult for Dogecoin ever to revisit its record highs.
As a PoW blockchain, Dogecoin doesn't natively support smart contracts, which are used in proof-of-stake (PoS) blockchains like Ethereum (CRYPTO: ETH) to develop decentralized apps (dApps), non-fungible tokens (NFTs), and other crypto assets. PoS blockchains also enable their investors to "stake" (or lock up) their tokens to earn interest-like rewards. Ethereum was previously a PoW blockchain, but it transitioned to the PoS mechanism in 2022 to reduce its energy consumption.

#BlackRock⁩
(Bloomberg) -- BlackRock Inc. is pushing to have its money-market digital coin more widely used as collateral for crypto derivatives trades, as Wall Street firms push deeper into digital asset markets.

Derivatives accounted for more than 70% of total crypto trading volume in September, according to researcher CCData. Some $3 trillion worth of derivatives contracts were traded over centralized exchanges in September, CCData estimates. That’s down about 50% from March, when Bitcoin reached a record.
BlackRock declined to comment. “The BUIDL ecosystem keeps growing, and we see significant potential in traders using the fund as collateral,” Securitize said in a statement, without commenting on talks with exchanges.
“We are reviewing” a number of tokens, including BUIDL, for use as collateral, Deribit CEO Luuk Strijers said in an interview. He added that the derivatives platform will first need to gain regulatory approval and understand technical aspects of the BUIDL token better. Earlier this month, Deribit introduced a yield-bearing stablecoin from Hashnote as a collateral option on the exchange.

#XRP #xrpsucess #XRPPredictions #LawsuitUpdate
18 Oct 2024
• XRP exchanges hands above $0.55 on Thursday, gains nearly 1%. 
• Market participants digest the confusion over a missed appeals deadline in SEC vs. Ripple lawsuit. 
• SEC spokesperson confirms that the appeal will proceed normally and the documents with legal arguments will be filed publicly soon. 
Ripple (XRP) gains on Thursday as traders digest the uncertainty in the Securities & Exchange Commission’s (SEC) appeal in the lawsuit. A spokesperson from the US-based financial regulator has confirmed that the process has been followed and the relevant documents will be available publicly soon. 
XRP traded at $0.5507 at the time of writing on Thursday. 
Daily Digest Market Movers: SEC’s appeal to go as planned in Ripple lawsuit 
• The SEC made headlines early on Thursday for confusion over the deadline to file an appeal against the final ruling in the Ripple lawsuit. 
• The SEC filed an appeal against the $125 million settlement and raised questions about the Howey Test’s application to XRP. This test is used to identify whether a token is a security and whether federal securities laws apply to it within the SEC’s jurisdiction. 
• Ripple’s Chief Legal Officer, Stuart Alderoty, and CEO Brad Garlinghouse slammed the SEC for appealing the August 2024 ruling. 
• Confusion over the deadline for filing an appeal raised the question of whether the SEC’s appeal is valid and will be accepted in the lawsuit. 
• A Fox Business journalist, Eleanor Terret, said on the X social media site that an SEC spokesperson has affirmed that the appeals process is moving forward as planned and the documents will soon be publicly available. 
NEW: Heard back from the @SECGov this morning.

According to a spokesperson:

“The appeal is proceeding normally, and the documents will be filed publicly soon."
— Eleanor Terrett (@EleanorTerrett) October 17, 2024
Technical analysis: XRP eyes 8% gain in its path to $0.60 target
XRP has been in a downward trend since July 2023, as seen in the XRP/USDT daily chart. The altcoin could climb another 8.42% to hit its psychologically important level at $0.60. This is a key level for several XRP holders since the token has managed to break through on a few occasions since May 2024. 
The $0.60 level is considered a hurdle in the path to further gains, toward the $0.7429 target that coincides with the July 2023 peak for XRP. 
The Moving Average Convergence Divergence (MACD) indicator shows green histogram bars after a series of red histogram bars. The trend reversed recently, and there is underlying positive momentum in the altcoin’s price.  
XRP/USDT daily chart
If Ripple closes below the $0.5000 level on Thursday, it would invalidate the bullish thesis. This is a level where XRP has swept liquidity on several occasions. Therefore, it is a key support for the altcoin. 
Another key support is the July 5 low of $0.3823. If XRP’s correction ensues, the altcoin could dip to this level before attempting a recovery. 

Bitcoin has shown little movement in recent months. After a strong start to the year, it has remained stagnant. Since July, the cryptocurrency fluctuated between $56,000 and $63,000.
Many are looking towards year-end developments and early 2025. Broader factors, like shifts in U.S. interest rates, also play a role.
Bitcoin has shown little movement in recent months. After a strong start to the year, it has remained stagnant. Since July, the cryptocurrency fluctuated between $56,000 and $63,000. This contrasts sharply with the first half of 2024, when it surged 45%. The rise was largely driven by U.S. exchange-traded funds (ETFs) linked to its spot price.
Market participants are now seeking potential catalysts for change. Many are looking towards year-end developments and early 2025. Broader factors, like shifts in U.S. interest rates, also play a role. Traders expect that BlackRock's new spot bitcoin ETF options could spark renewed interest. Approval by the Securities and Exchange Commission has created buzz.

Slerf’s gaffe has shocked many, including presale investors who expected big gains right off the bat
A Solana-based memecoin project, Slerf [SLERF], unsettled presale investors and made news on 18 March for all the wrong reasons. According to the team, they accidentally burnt $10M worth of received Solana [SOL]. The funds were designed to create a liquidity pool and allow presale investors to get free SLERF tokens.
Talking about the alleged mishap on X(formerly Twitter), Slerf claimed that it was not intentional, but an accident. 
I burned the LP and the tokens that were set aside for the airdrop. Mint authority is already revoked so I can not mint them. There is nothing I can do to fix this.”Documenting how the irreversible mistake happened, Slerf added, I initially tried to burn the LP using Solana tools Vercel and it wouldn’t go through. So, I went to Sol incen and was clearing out the shitcoins people sent to the wallet and accidentally burned them with the pile of other coins.”
Slerf riding the Solana meme craze
Solana-based memecoins have been a smash hit during the ongoing bull market cycle, and users are rushing to cash in on the narrative. Over the last 24 hours alone, this category hit $6B in market surge and surged by +50%, as per Coingecko’s data.
At press time, Slerf [SLERF], Book of Memes [BOME], and Dogwifhat [WIF] were at the top of the trending section. Like other meme projects, presale investors are always set to benefit more, especially if a project garners massive traction.
Slerf, to its credit, had a successful launch too. At press time, SLERF was up +3,000% after its debut, attracting the attention of tier-2 exchanges like Bybit, Poloniex, and MEXC.

Bitcoin’s bullish momentum continues, with analysts pointing towards significant factors that could propel the price to a staggering $100,000 by the end of the year. Let's dive into the reasons behind this optimistic outlook.
According to crypto analyst Ash Crypto, Bitcoin’s potential to hit $100,000 this year lies in its historical halving cycles. Typically, BTC consolidates for about six months post-halving before a major price breakout. Ash Crypto cited that after the 2016 halving, Bitcoin consolidated for 161 days, while in 2020, the consolidation lasted 175 days before the next significant price surge. Fast forward to 2024, Bitcoin has again been consolidating for 161 days since the April halving, indicating that a breakout could occur in the coming weeks.
Key Factors Behind Bitcoin's Potential Surge to $100,000
China's Economic Stimulus
China’s recent decision to inject $280 billion into its economy through a stimulus package has historically boosted Bitcoin prices. This monetary easing could once again drive more liquidity into the crypto market, fueling Bitcoin’s rise.
US Federal Reserve Rate Cuts
The US Federal Reserve has initiated interest rate cuts, with a recent 50 basis points (bps) reduction and the potential for another 50 bps cut before year-end. This policy shift is expected to provide more liquidity to US investors, further driving Bitcoin investments.
Japan's Dovish Monetary Policy
The Bank of Japan (BOJ) has also adopted a dovish stance by pausing rate hikes. This marks a reversal from the BOJ's first rate hike in 17 years, which caused Bitcoin’s price to plummet last year. Now, the absence of further rate hikes is expected to benefit Bitcoin.
Other Catalysts Pushing Bitcoin Higher
In addition to these macroeconomic factors, other bullish indicators include Donald Trump’s resurgence in US presidential polls, with his pro-crypto stance being favorable for Bitcoin. The resurgence of Spot Bitcoin ETFs accumulating Bitcoin and the ongoing reduction in Bitcoin exchange flows signals long-term investor confidence, reducing selling pressure. Furthermore, the upcoming repayment to FTX customers and Russia’s plan to utilize cryptocurrencies for cross-border payments in November are additional bullish indicators that could propel Bitcoin to new all-time highs.
With global money supply surging and these combined factors still not fully priced into the market, Ash Crypto predicts that Bitcoin will break through its previous ATH and hit the coveted $100,000 mark soon.

Increasing Demand for Data Security: As data breaches and privacy concerns grow, JasmyCoin's focus on secure data storage could attract more users.
2.⁠ ⁠Expanding Ecosystem: Development of new use cases and applications within the JasmyCoin ecosystem could boost adoption.
3.⁠ ⁠Regulatory Clarity: Favorable regulatory environments in various countries could legitimize and stimulate growth.
4.⁠ ⁠Marketing Efforts: Effective marketing strategies and listing on prominent exchanges can increase visibility.
$USDC