Top Crypto Gainers on 13 March – WIF and RUNE
Today's top crypto gainers in the market are outstanding. Dogwifhat (WIF) boasts an 18.03% daily increase, higher than its price on the last day. THORChain (RUNE) follows with a 17.32% gain, reaching $11.32 today.
On the other hand, the presale crooners Scotty AI and Green Bitcoin are recording massive gains as investors ape in ahead of their future spike.
With daily gains steadily rising, these coins showcase resilience and a promising outlook amid the fluctuating market.
The Fear and Greed Index of the broad crypto market leans at 81, a high greed level, indicating strong bullish sentiments and optimism. This could be a factor for the gains these assets are recording.
Also, they could have hit significant milestones or recorded new ecosystem developments recently.
Nevertheless, we'll explore critical variables behind the gains and hint at how these coins could perform in the long run.
So keep reading!
Dogwifhat (WIF) - New and Promising Dog-themed Memecoin on the Solana Ecosystem
Dogwifhat is up by 24.14% to $2.34, a higher price than yesterday's. Also, its trading volume is now above $390.6 million, a 37.36% increase today.
Again, the coin's market cap is over $2.36, up 25.6%. These remarkable gains could be attributed to investors' sudden interest in meme coins.
Dogwifhat (WIF) is a Solana-ecosystem meme coin, and now, the ecosystem is swiftly becoming the one-stop network for finding explosive meme coins.
Although it's a new dog-themed project on the Solana blockchain, its explosive performance has captivated the interest of the world's leading centralized exchange (CEX), Binance.
As of March 5, 2024, Binance announced listing Dogwifhat (WIF) and new spot trading pairs, WIF/TRY, WIF/FDUSD, and WIF/USDT.
New coin listing on #Binance! Dogwifhat (#WIF $WIF) #memecoins
Binance will list Dogwifhat (WIF) and open trading for these spot trading pairs at2024-03-05 14:00 (UTC).New Spot Trading Pairs:WIF/#BTC, WIF/#USDT, WIF/#FDUSD and WIF/#TRY.
Next meme? #Grok? #Bitcoin #BTC... pic.twitter.com/qDIZxYGBxb
- New Coin Listing (@NewCoinListings) March 5, 2024
Consequently, the coin's price was propelled further. As such, it is clear that this update is a factor pushing WIF further, considering its surging trading volume. $WIF holders are optimistic, believing it's a 100x gem that could reward them with massive gains.
WIF could remain one of the most considered investments as interest builds up towards meme coins. Thus, its worth could keep surging, reaching $5 shortly. But let's see what the indicators show concerning WIF price trajectory in the short and long term.
WIF Respects Both Horizontal Resistance and Support - Where Could the Break Happen?
Dogwifhat (WIF) is in a consolidation phase, as seen in the chart above. It is trading below its horizontal resistance at $2.48 and above the horizontal support at $1.69, hinting at potential ranging market conditions.
As with all consolidation phases, the price of WIF could break the resistance, trailing above $2.5 and beyond.
The Relative Strength Index (RSI) is at 82.25, an overbought market zone (above 70). As such, WIF could record more BUY trades before today ends. Again, its price respects the horizontal support at $1.6, indicating a level where buyers could enter to ride alongside the potential uptrend.
By that, WIF's price could bounce from $1.6 if the consolidation nears this level. However, knowing that overbought market condition comes with increased volatility is vital. For this reason, traders and investors should have their proper risk management practices in place before making any trading decisions.
In this case, implementing stop-loss and take-profit levels can come in handy.
THORChain (RUNE) Decentralized Liquidity Network for Seamless Crypto Asset Exchange across Networks
Since the beginning of 2024, THORChain (RUNE) has maintained a remarkable performance.It has successfully hit $3 billion in market cap, marking a significant milestone in the industry. In the last week, RUNE gained by 72.12%, and roughly 83% in the previous month.
Furthermore, its returns on the Year-to-Date (YTD) record stand around 84.54%, showing an increase in the investors' interest" in it. Today, RUNE tradesfor $11.33, with a daily gain of 17.39%. Its trading volume is also up by 45.86% to $1.26 billion.
While these gains are interesting, today's price surge of RUNE may be attributed to recent developments outlined in ADR-0012. Following a consensus among validators, the network burned60 million RUNE from the Standby Reserve.
This strategic move aimed to expand the Lending Protocol caps, enabling it to accommodate an additional 20 million RUNE worth of collateral.
60m $RUNE was burned from the Standby Reserve, creating 20m RUNE ($140m) in space for lending collateral.
There is now room for ~2000 #Bitcoin or 36k ETH in THORChain lending. No liquidations, no interest.
Details on Medium: https://t.co/yLCdz13oyL pic.twitter.com/aNePxXpvLV
- THORChain (@THORChain) March 8, 2024
Notably, the maximum supply of RUNE stands at 500 million, while the burned tokens were from the Standby Reserve and not in circulation.
Yet, this action effectively reduced the overall supply by 12%.Reducing the token's supply could be another significant factor contributing to the observed price gain.
RUNE Forms Consecutive Green Candlestick Streak in the last week - When is the Sell-side Inefficiency Expected?
In the chart above, RUNE trades above the 50-day and 200-day Simple Moving Average (SMA), an overall bullish market trend. As such, its price is expected to touch new highs in the long run.
Furthermore, its historical resistance level at $7.26 has been broken, turning to a support level for the price to bounce in the future.
Moreover, RUNE's Moving Average Convergence Divergence (MACD) is above the signal, indicating a bullish momentum for the coin. Also, the bold green bars formed at the histogram in an inclined order indicate the levels at which the bulls have been strengthened. Therefore, more push to the upside is likely to occur.
On the other hand, the green candlestick streak in the last week was identified as a liquidity void. This imbalance in price action suggests a retracement aiming to correct this imbalance.
For this, traders and investors should use ideal risk management strategies to be safer. Exiting the market and re-entering after the imbalance has been handled could be a handy strategy to keep in mind.
Scotty AI (SCOTTY) - The AI Dog on A Mission
Scotty the AI is an innovative project aiming to transform the crypto sector with its modern design and exciting roadmap.Scotty AI stays updated with trends in artificial technology, blockchain, and crypto advancements.
With the help of complex algorithms, Scotty Ai can analyze codes and detect abnormalities that most blockchains will likely miss.
Scotty AI Presale Crosses $9.1 Million Milestone.Remarkably, Scotty AI has surpassed the $9.1 million milestone in its presale today due to the rising demand from investors.
Presale Update!
ScottyTheAi #1 #memecoin (w/Ai utility) of 2024$SCOTTY has raised $9.1M
this was raised way faster than expected due to the high demand of the crypto community wanting to join ScottyTheAi.
Well on our way to closing out presale early and heading for... pic.twitter.com/Ae6zGXPSKo
- Scotty The Ai (@ScottyThe_Ai) March 13, 2024
According to the developers, this milestone was achieved faster than expected, confirming the massive interest from buyers.This will likely move SCOTTY to a $100 million market cap fast once it lists on exchanges.
Currently, each token is worth $0.01, which is a fair price for most investors who want to accumulate more of these tokens.Users can easily purchase SCOTTY tokens with multiple crypto options such as ETH or USDT, swapping these cryptocurrencies directly from their wallet.
Why Scotty AI?The crypto space is littered with several projects battling for attention from investors. However, Scotty AI's clear objectives and exciting features set it apart as a potential success in the crypto market.
According to the whitepaper, the key objectives are establishing Scotty Ai as a trusted crypto society figure and providing modern AI security and fraud detection solutions.
Also, the team hopes to encourage community engagement, knowledge sharing, and collaboration among crypto enthusiasts. In addition, the adoption and recognition of their native Token, $SCOTTY, as a symbol of integrity, trust, and security is critical.
Notably, Scotty AI's features, such as advanced AI to analyze blockchain data, speed, fraud detection, transparency, and focus on the community, create exciting prospects. Also, SCOTTY being ERC-20 compliant and boasting a supply capped at 1.73 billion tokens will likely preserve its long-term value.
Scotty AI also supports staking, which gives its community opportunities to earn passive income.All these say good things about the project, but potential investors must conduct proper research and remember that there are no certainties in crypto due to price volatility.
Green Bitcoin (GBTC) - The Low Energy Ecosystem for Rewards
Green Bitcoin is a creative project that seeks to reward its community while conserving energy through Green Staking. Green Bitcoin operates on the Ethereum blockchain, which utilizes a proof-of-stake (POS) mechanism.
Comparing energy consumption rates, Bitcoin consumes up to 1.17 million Wh (Watt-hour) per transaction, while Green Bitcoin has a minimal consumption of 34 Wh.
Green Bitcoin's launch is ahead of the upcoming Bitcoin Halving, which will likely boost the price of its native GBTC token.
The GBTC presale is ongoing, and each token is worth $0.8782.
Green Bitcoin raises $3.2m while Bitcoin price breaks through $70khttps://t.co/w8K1nvHSfu
- GreenBitcoin (@GreenBTCtoken) March 12, 2024
Remarkably, Green Bitcoin's presale has raised over $3.88 million as it approaches the goal of $4.14 million. This confirms that more investors are filling their bags with GBTC before its listing.
So, Green Bitcoin is likely a second chance for investors who missed out on Bitcoin's rally. Meanwhile, Green Bitcoin introduces the novel concept of gamified green staking for extra rewards.
What is Gamified Staking?Green Bitcoin is a prediction market but relies on gamified green staking to reward its users. Users who correctly identify Bitcoin trends and predict prices will earn rewards.Also, the staking enables the winners to maximize these rewards to earn passive income.
According to the whitepaper, the plan is to issue weekly challenges where players stake their $GBTC for a chance to win.All rewards will be paid out in GBTC, adding more utility to the token.
Overall, GBTC will likely be one of the standout tokens in 2024 based on utility, strong community support, and comparison to BTC.However, we still advise that investors only commit what they can afford to lose since there are no guarantees.
Final ThoughtsThe bullish phase in the crypto market continues, with Bitcoin on its best pre-halving run. The altcoins are beginning to rally, attracting interest from investors who missed out on Bitcoin and other top cryptocurrencies.
While the market looks favorable for the buyers, investors must research and manage their investments properly with techniques such as lot size management. Also, they must be wary of rug pulls and keep wallet keys and passphrases stored securely to prevent irreparable losses.
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