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- Whales can't get enough of these money-makers: Top crypto news analyzed.
Whales can't get enough of these money-makers: Top crypto news analyzed.
The fastest growing meme coin and a new crypto investment opportunity π₯
GM and happy hump day! π₯³
As always, it's Vanessa, here from the best Web3 community ever β buidlbee! We make all your crypto dreams come true by bringing you the important nitty-gritty details, insights, and analyses from the streets of crypto right to your screen.
Here's what the others aren't telling you...
Like father like son? Baby Doge is making waves π
The whales aren't letting go of Cardano πͺ
Ex Machina ain't got nothing on these cryptocurrencies π€
Baby Doge is up by 130%
Great parents always want their kids to do better than them, and by the looks of things, it seems like Baby Doge is setting itself up to outperform Doge. In 24 hours, the memecoin is up by at least 7%, rising from $0.00000000288 to $0.000000003531, and over the past week, the coin has gone up 133.65%, surpassing both SHIB and DOGE by growth rate. So what's causing the recent surge?
As with the rest of the crypto market, the young Doge has been in an uptrend since the start of the year, thanks to the improved economic situation, and preempted Fed rate announcement. Furthermore, the Baby Doge team announced the upcoming launch of a token burn portal, set for February 13. With over 115Q coins in circulation, the mass burns may improve the value of the meme coin, and community members who use the portal are promised a lower fee for the future purchase of tokens.
Moreover, ~$1.09M worth of Baby Doges was set ablaze on February 5, skyrocketing the coin up by 37.78%. At its All-Time-High (ATH), on July 5, 2021, Baby Doge was valued at $0.00000001, thanks to a playful tweet from Doge pioneer β Elon Musk.
There are several exchanges Baby Doge can be bought, with the most profitable one being BabySwap, on the BABYDOGE/USDT pair. The "The young shall grow" mantra seems to be on the meme coin's side, but it still has a way to go before catching up to Doge, currently trading at $0.09217 and Shiba Inu, currently trading at $0.00001425.
Baby Doge Feb. 5 price increase
The crypto whales are pumping Cardano
Speaking of growth, ADA seems to be taking up the mantle, as the altcoin has gone up by 65% since the start of the year, rising from $0.246 on January 1 to a current value of $0.3996. So who's pumping Cardano up? π§
According to blockchain analysts, Santiment, the Cardano network was buzzing with activity last Friday, with 105 transactions worth over $100K. Sharks and whales, specifically, are holding on to the asset tightly, with addresses having 100,000 to 100,000,000 ADA.
But it's not just ADA enjoying the spoils of whales, Santiment also reports the largest Bitcoin transaction in four weeks, as a new wallet received $313.1M worth of BTC in a single transfer. Alongside BTC and ADA, altcoins like Loopring (LRC), Aave (AAVE), dYdX (DYDX), and Curve (CRV) are also seeing massive transactions.
Mass whale investments usually signal an upcoming pump and dump, but this might not necessarily be the case. Friend, all I can say is, hold on to your wallets and prepare for some volatility.
AI tokens are taking over the crypto market
Brace yourself for the biggest FOMO wave ever, because with AI crypto coins doing better than ever, it's hard not to feel left out. With the recent success of the Chat GPT AI, investors now seem to be paying more attention to AI and their related tokens. In the past week, projects related to neural networks, in any way, have been gaining momentum, rising by at least 200%.
The most popular coins on the list are The Graph (GRT), trading at $0.1858, with a market cap of $1.6B; SingularityNET (AGIX), trading at $0.5621 with a market cap of ~$622M; and Fetch.ai (FET), trading at $0.5032 with a market cap of ~$410M as of writing.
Could this be the AI takeover they've been warning us about in movies? π± Big brands are also joining the bandwagon, with Microsoft investing $10B in OpenAI [the co-developers of Chat GPT] to boost the performance of their Office tools, as well as, integrate a new version of the AI into their search engine β Bing. Furthermore, Google has invested ~$300M into the AI startup, Anthropic, founded by former OpenAI engineers.
Now everyone, who's anyone, wants in on the new money-makers of the industry. Binance got hefty AI transfers recently. One transferred 6.1M OCEAN tokens from two addresses, and the other transferred $56M worth of SAND. As expected, Elon Musk has also joined the group chat, posting β you guessed it β yet another meme, this time related to AI. Following that, AGIX and FET became the most trending requests about crypto on social media.
So how can you hop on this new trend? Experts at 001k.Trade say it's unwise to buy into any hyped projects, especially when they have no strong ties to AI technology themselves, and instead, only highlight it in some way. Therefore, it's very important to do some deep digging into legit AI projects, take a gander at our deeply analytical article concerning them, and invest only what you're prepared to lose. After all, Bitcoin itself was once $50.
That's all the tea I have for you today crypto buddy. I hope these analyses make you a better and well-informed investor. If it did, be nice and share with friends. See you tomorrow, with more tips to help you make it with crypto π₯
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