Polkadot Chart Forming Bullish Flag Pattern, Analysts Predict DOT Will Pump After Reaching the $9.35 Mark
Polkadot has jumped by 5% in the past 24 hours, rising to $9.04 as the cryptocurrency market slips by 0.5% today.
DOT is now up by 56% in the past week and by 123% in the past month, with its chart forming a bullish flag pattern that suggests it could continue rallying this week.
Analysts are now predicting that DOT could pump heavily if it crosses the $9.35 level, a price it last reached back in April.
Given the trajectory of the wider crypto market, DOT is likely to reach this target very soon, with its solid fundamentals also making it a good long-term bet.
Polkadot Chart Forming Bullish Flag Pattern, Analysts Predict DOT Will Pump After Reaching the $9.35 Mark
DOT’s chart today is looking bullish because its resistance (red) and support (green) levels have formed a flag pattern.
The two levels are squeezing Polkadot’s price into an increasingly narrow range, one which the coin looks like it will break out of very soon.
The coin had a very strong weekend, with its RSI (purple) rising to an overbought 80 on Saturday, before correcting on Sunday.
But DOT is now ready to bounce back again, with its 30-period average (orange) climbing ever further beyond its 200-period (blue) in the past few hours.
And analysts are beginning to notice that the alt is moving into an increasingly bullish position, with the ‘CryptoRollerCoaster’ account on X stating today that a move to $9.35 could signal a big break out.
#DOT is on a strong upward trajectory with a recent 16% increase, nearing a crucial resistance. A push above $9.35 could signal further gains
— CryptoRollerCoaster (@__c__r__c__) November 25, 2024#DOT #Crypto #Bullish #Polkadot #AVAX #Avalanche #ICP #InternetComputer pic.twitter.com/OWV3BcP19c
Looking at the bigger picture, Polkadot is in a strong position to benefit substantially from the new bull market.
A big reason for its rallying over the weekend (and today) is that FIFA recently announced a new mobile game, FIFA Rivals, that will run on the Polkadot network.
This is a massive coup for Polkadot, underlining its credentials as a dark horse to rival Solana and Ethereum as a major layer-one network.
The platform has been busy growing and upgrading itself over the past few months, having rolled out its Agile Coretime update in September, for instance.
Based on its improving fundamentals, and on growing market bullishness, the Polkadot price is likely to reach $9.35 in the next few weeks.
It could then end the year at around $15, before rising to $25 by H2 2025.
New Meme Tokens with Bullish Fundamentals
Some traders may find DOT moo much of a modest, steady riser for their tastes, in which case there are alternative to consider.
This includes new low-cap alts (such as Ergo, Casper and Harmony, for instance), and it also includes presale tokens, which can often rally big when they list on exchanges for the first time.
One presale coin showing lots of promise is Crypto All-Stars (STARS), a new Ethereum-based coin that has raised a very impressive $5.8 million in its ongoing sale.
POV: The All-Stars getting their first look at the Meme Vault
— Crypto All-Stars (@all_stars_coin) November 24, 2024pic.twitter.com/xiu9L656Xx
Crypto All-Stars is interesting because it’s the first coin in the market to provide a ‘MemeVault’, enabling holders of any meme token to stake their funds.
It employs the ERC-1155 multi-token standard, meaning that its contract can tokenize any cryptocurrency, including coins that don’t run on the Ethereum blockchain.
This could result in massive adoption for the token, particularly given that users who stake external meme coins receive greater rewards in proportion to the STARS tokens they hold.
STARS’ sale will end in 25 days, but investors can still join it by going to the official Crypto All-Stars website.
1 STARS currently costs $0.0016125, which is its final presale price.
Of course, Crypto All-Stars’ popularity (with 18,000 followers on X) would suggest that it will rise well beyond this sale price once it lists.
The post Polkadot Chart Forming Bullish Flag Pattern, Analysts Predict DOT Will Pump After Reaching the $9.35 Mark appeared first on Cryptonews.
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Massive Dip in JTO, TRUMP, TON & CO—Buy the Fear or Run for Cover?
Pump.fun Faces Backlash Over Alleged Harmful Content on Platform’s Livestream
Pump.fun, a decentralized platform enabling the creation and promotion of Solana-based memecoins, is facing criticism after users allegedly broadcasted harmful and violent acts through its livestream feature.
The platform, which allows users to promote their tokens via community tools like livestreams, has sparked outrage among crypto enthusiasts who are now demanding stricter content moderation or the removal of the livestream function altogether.
Man Threatens Suicide on Pump.fun Livestream
The controversy began on November 25 when Beau, a Pudgy Penguins safety project manager, flagged a disturbing incident on Pump.fun’s livestream.
Beau reported a user who threatened suicide if their memecoin failed to reach a specified market capitalization.
In response, Beau urged the platform to intervene, disable the livestream, and offer support to the individual.
He also called for the complete shutdown of the livestream feature, arguing that it had already spiraled “out of control.”
Other alarming reports have since emerged.
One user allegedly fired a gun out of a window whenever their token increased in value.
Another case involved a child threatening violence against family members if a token failed to hit a price target.
Perhaps most shocking was a claim of an individual threatening to attack a school if their memecoin did not gain value.
These incidents led some members of the crypto community to label the livestream feature a “pipeline of felonies.”
One X user demanded Pump.fun deactivate the feature until proper moderation tools are in place, stating, “Turning on a camera to showcase your own depravity to the world isn’t noble or novel.”
Pump fun needs to turn off livestreams immediately.
— Eddie
Instant financial gratification in return for obscenity has created some truly disgusting outcomes
I'd genuinely advise PF to turn off their livestream feature until they can get moderation active. The content being streamed… pic.twitter.com/RQhduYMeCG(@DancingEddie_) November 22, 2024
Alon, the pseudonymous leader of Pump.fun, responded to the backlash, acknowledging the community’s concerns but defending the platform’s moderation efforts.
According to Alon, Pump.fun employs a team of moderators and engineers who work around the clock to monitor images, videos, livestreams, and comments.
“We have prioritized moderation since day one and are scaling efforts to address the increasing volume of streams and comments,” Alon stated.
Pump.fun Meme Coins Make Lucky Traders Rich
Pump.fun has recently garnered attention for enabling traders to achieve substantial profits through meme coin investments.
In one instance, a crypto trader transformed an investment of 13 SOL (approximately $3,300) into 9,718.5 SOL, resulting in a profit of $2.5 million by trading 76.46 million Slopfather (FATHA) tokens.
In another instance, a lucky trader turned $857 into $2 million after purchasing 23 million $FWOG meme coins.
However, such success stories are rare.
Data indicates that over 60% of traders on Pump.fun experience losses, with less than 10% achieving significant profits.
Furthermore, data from Dune shows that less than 3% of traders made over $1,000 profit with such meme coins.
The post Pump.fun Faces Backlash Over Alleged Harmful Content on Platform’s Livestream appeared first on Cryptonews.
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