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The post Pepe Coin (PEPE) Price Surge to New Heights: Market Cap Exceeds $6 Billion appeared first on Coinpedia Fintech News

The cryptocurrency market is surprised as Pepe Coin, with its frog-based aesthetic and popular meme token status, hit a large milestone today. Despite taking large liquidations in the last 24 hours, the token keeps rising, taking new heights in its cryptographic journey.

Market Cap at ATH

Reaching a market capitalization value of over $6 billion and ranking at the 20th spot in the CoinMarketCap standings today, May 23, the frog-themed meme token can proudly boast a market cap of $6.11 billion and has peaked higher at $6.16 billion. 

With this surge, Pepe Coin gains the lead over its competitors, like the Internet Computer Protocol, to hold its spot as a formidable crypto player in the market.

Moreover, Pepe Coin has achieved a new ATH price of $0.00001467. 

Despite the large selling pressure seen as liquidations were quite large, the token disregarded market expectations and surged even more. This further reflected the increasing optimism in Pepe Coin, and investors eagerly await even more gains to follow.

Upside Momentum and Market Dynamics

Starting the day on a bearish note, Pepe Coin caught momentum and gained 5.02% in price within the last 24 hours. At the same time, however, the large liquidations amount to $8.46 million, so there is clear high selling pressure in the market. However, the fact that Pepe Coin remains resilient in such challenges instills confidence among investors and brings further interest in meme crypto.

Open interest for futures and options has surged 2.41%, while 24-hour derivatives volume has decreased 24.64%. All these market dynamics bring Pepe Coin 24-hour volatility, signaling potential opportunities for traders.

Looking Ahead

With Pepe Coin resuming its uptrend, analysts continue to be bullish on it. Popular market analyst, Crypto Chase commented, “Bullish breakout after 2+ months of consolidation. Looks quite strong along with $ETH and $PEPE. Any pullback to 0.029~ (if offered at a later date) would be a buying opportunity IMO.” However, given that the RSI has plunged into overbought levels, a retracement could be in the works, providing buying opportunities for investors.

Ethereum Layer 2 platform Cyber (CYBER) announced the opening of early access to Cyber Mainnet Staking.

Stakers of the CYBER token now have two choices–opt for early access to maximize rewards, available from May 22nd to June 3rd, or choose not to take any action and directly claim rewards on June 8th.

When Cyber Mainnet Staking launches on June 8th, 1 million CYBER staking rewards will be allocated to existing stakers, distributed in accordance with Season 1 staking points. The official start of Cyber Mainnet Staking will enable individuals to stake CYBER on the platform using EigenLayer‘s Actively Validated Services (AVS). Throughout the seven days of unlocking period, stakeholders will retain the flexibility to cancel stakes and withdraw funds instantly.

Cyber Mainnet Staking is an integral component of the project’s mainnet launch. It aims to promote the democratization of network governance, enabling individuals to engage actively in the procedures of decision-making.

In Cyber Mainnet Staking, CYBER tokens are staked to AVS operators responsible for running sequencers, verifiers, and CyberDB, thereby bolstering Cyber’s security measures. In exchange, it is anticipated that CYBER stakers will automatically receive a portion of the revenue generated from these services.

Between June 8th and September 8th, 500,000 CYBER rewards will be allocated to incentivize mainnet stakers. To provide sufficient rewards for CYBER stakers initially and ensure long-term viability, a total staking incentive of 5.5 million CYBER tokens has been meticulously planned for distribution over the course of the next six years.

Early Access to Cyber Mainnet Staking is now OPEN! Staking CYBER? You've got two options:1) Opt in for MORE rewards! 2) Do nothing & claim on June 8. This early access window only lasts until June 3!For details check our latest blog https://t.co/vidS8d4gJH

— Cyber (@BuildOnCyber) May 22, 2024

What Lies In The Essence Of Cyber?

Cyber stands out as the pioneering restaked Ethereum Layer 2 platform tailored for social interaction. Operating as the social layer for Web3 applications, Cyber represents a bridge for the upcoming influx of individuals intending to explore Web3, its tools, and financial liquidity throughout various Layer 2 ecosystems.

Recently, Cyber initiated launched its mainnet, extending an invitation to builders to transition and develop their applications on its platform. The project is preparing for the Social Summer campaign targeting developers in June.

The post Cyber Introduces Early Access To Cyber Mainnet Staking, Empowering Users To Optimize Rewards appeared first on Metaverse Post.

FLOKI just successfully completed its 15 billion FLOKI token burn.

The altcoin is set up to surge alongside ETH once ETH Spot ETF is approved.

The FLOKI Army is happy to see the project set another major milestone.

Floki Inu (FLOKI) one of the most popular memecoin is being recognized as more of an altcoin than a memecoin showcases its community-led governance prowess with the latest mass FLOKI token burn. 

In detail, the Floki DAO recently made a community decision to burn 15,246,000,000 FLOKI tokens after a unanimous vote. Specifically, 99.84% of Floki DAO members voted to burn over 15 billion FLOKI tokens. 

15.246 BILLION FLOKI TOKEN BURN SUCCESSFULLY EXECUTEDFollowing the decisive vote by the #Floki DAO, 15,246,000,000 $FLOKI tokens have been successfully burned today. This action reflects the community's overwhelming support, with 99.84% voting in favor of the burn.TX:… https://t.co/aHBUmTepbD pic.twitter.com/xtvIf59ocj

— FLOKI (@RealFlokiInu) May 22, 2024

Initially, the decision made to burn these tokens came from the move of a blacklisted user. Now, after the burn, Floki DAO make the decision to give this previously blacklisted user 1% of the burned tokens as an incentive. 

This move demonstrates the project’s commitment to community-led decisions and governance. The sentiment from the greater FLOKI community, also known as the FLOKI Army, is mainly bullish. In fact, many voices of the community share their admiration for the project and mark this 15 billion burn as a huge milestone for the project. 

Meanwhile, the price of FLOKI is painting bullish flags. According to CoinMarketCap, the price of FLOKI is $0,0002282. In addition, the asset boasts a total market cap of $2,181,069,841 with a 24 hour trading volume of $476,879,596.

Adding to the bullish narrative of FOKI as an Ethereum-based token, another boost of bullish anticipation comes from the fact that an early ETH Spot ETF approval is nearing. Analysts anticipate all ETH-based tokens to surge in price when the approval goes through.

Read Also

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FLOKI DAO Proposes Burning Over 15B FLOKI Tokens Amidst Bullish Bitpanda Listing and Binance Pay Page Reveal, FLOKI Price Spike Incoming?

FLOKI Marks Date to Burn 15,246,000,000 Tokens Following Floki DAO Vote, FLOKI Price Surges by Over 10% Amidst Bullish News

The post FLOKI Completes Successful 15 Billion Token Burn and Showcases Floki DAo’s Community-Led Governance Power appeared first on Crypto News Land.

The market has been quite chaotic over the last couple of weeks. Bitcoin (BTC) fell by 23% but has been gaining positions during the last week. As always, Bitcoin is the driver of the crypto space; once it moves, we can expect the rest of the coins to start gaining momentum.

The exceptions, as always, are new projects. The launch of Notcoin, a tokenized equivalent of game points that people were collecting on a Telegram game, was eagerly awaited by more than 5 million people. However, as we can see in the graphic, it followed a typical pattern for new projects: a huge spike followed by a sell-off. This is when market makers primarily generate revenue. After this initial phase, we typically see a steady decline in price as market makers consolidate their positions before the next possible move. We can expect the price to drop to around 0.0035. It’s likely we will see frequent pumps and dumps with this asset.

For those looking for a more stable but steadily growing portfolio, I would suggest focusing on Layer 1 (L1) and Layer 2 (L2) tokens, as their potential to rise is quite significant over the next couple of weeks, assuming Bitcoin continues its climb towards all-time highs.

Now, let’s review some potential tokens that are consolidating at the bottom and have not yet started their upward movement. Here are a few interesting options: Arbitrum, Aptos, Sui, and Vara. We can see that the tokens of all these projects have reached support levels and are now rebounding. But which one of them has the most potential?

Please note, this is not investment advice. I am merely analyzing the information the graphics provide.

Arbitrum

ARB dropped 60.66% from the local high when this correction started. We can see it had a false breakout with two candles, but there was no impulse, and it is once more consolidating near the level of 0.8981. If there is no rebound in the next two days, it is highly likely we will see ARB’s price drop to 0.7705.

Aptos

APT dropped 62% during this correction. It is highly likely that we will still see it go down to 7.3, with a significant possibility of a false breakout. Thus, in the next couple of days, a downtrend is highly probable, with consolidation around the level of 7.34, including a false breakout towards the level of 6.78.

Sui

SUI experienced a drop close to 60%, similar to its peers, but managed to stop at 59.37%. It had a nice rebound at the level of 0.8856 and is showing good bullish signals. This token is definitely worth watching.

Vara network

VARA proved to be one of the strongest tokens among its peers, dropping just 51.26%. It is consolidating around 0.07753, and as we can see, we can expect a rebound towards the level of 0.099 over the next couple of days. Vara has shown strong impulse movements and a steadier downtrend. So, while this is not investment advice, this token should definitely be on our watch list.

In conclusion, I would closely monitor VARA, as it has significant potential and appears to be underestimated by the market for now. SUI also looks promising with its rising possibilities.