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Within the current cryptocurrency market traits, ShIB and PEPE have emerged as leaders within the meme coin pump, whereas Bitcoin has remained stagnant at $29,400 for 3 consecutive days.
Buying and selling Quantity on Binance Futures
On Binance Futures, the buying and selling volumes of LPT (Livepeer) and 1000SHIB have reached $2.25 billion and $975.24 million respectively. These figures have surpassed Ethereum, rating second and third, falling simply behind Bitcoin. Different notable tokens like BLZ, APE, 1000PEPE, SOL, RUNE, and HIGH rank sixth to tenth, adopted by DOGE and XRP.
Prime Gainers within the Final 24 Hours
BLZ, LPT, and RUNE have been the highest 3 gainers, with 36%, 19%, and 16% positive factors respectively during the last 24 hours. LPT is the native token of Livepeer, a decentralized reside video streaming community protocol primarily based on blockchain expertise. BLZ represents Bluzelle, a censorship-resistant decentralized storage community, and RUNE is the native token of THORChain, a decentralized cross-chain liquidity protocol primarily based on the Cosmos software program growth package.
Open Curiosity Tendencies
1000SHIB’s open curiosity has seen a lower of -9.16% during the last 24 hours, standing at $100.37 million.
Conversely, LPT’s open curiosity has surged to $975.24 million, marking a 43.58% improve. Each Prime Dealer Lengthy/Brief Ratio (Accounts) and Lengthy/Brief Ratio are on the rise, indicating that the pump has attracted extra merchants to quick positions. The quantity of liquidated quick is round $300.
Indicators for LPT Value Pattern Reversal
A number of indicators are essential for LPT’s value pattern reversal, together with:
1. Market makers and manipulators taking income.
2. Brief merchants stopping loss or being liquidated in giant numbers in comparison with the open curiosity scale.
3. A plunge in Bitcoin’s value.
As of now, there aren’t any indicators of those indicators, resulting in the hypothesis that market makers and manipulators might select to proceed pumping for extra income.
Conclusion
The current surge in meme cash, led by ShIB and LPT, has caught the eye of merchants and market analysts. With Bitcoin’s value remaining static, the main focus has shifted to those various cryptocurrencies.
Picture supply: Shutterstock
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