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The global crypto market cap is up about 0.2% in the last 24 hours. A sideways movement enters the digital currency market after a strong week of trading. Bitcoin, for example, gained more than 15% in value in seven days. With that, a consolidation movement doesn’t seem uncommon. With a history high of just over $31,000 in the last 24 hours, the first profit was being made.
However, there is no room for boredom in the digital currency market. For example, with Wagner Inu (WAGINU) there is a new meme base that is expressly positioned as a statement on the Russian crisis.
Bitcoin Consolidates: This is now important
Crypto trader Michael van de Poppe sees this as a sign that further consolidation is needed before the bullish price development continues.
#Bitcoin acting strongly, as we are still acting above $30K.
I’m patiently waiting for a trigger right now. A rejection at $31K could be a sign of further consolidation here.
In that case, a sweep of $29.5K (or $28.6K) is my long game. pic.twitter.com/1FaGHTHNxo
— Michaël van de Poppe (@CryptoMichNL) June 25, 2023
This situation makes entry at the current price level less attractive for short and medium term traders. While long-term investors could also accumulate BTC as part of a DCA strategy, active traders are waiting for further signals.
In this regard, the ratio of risks may make an opportunity more attractive due to difficulties. In particular, the two price levels marked at $29,500 and $28,500 could enable a potential entry in Bitcoin if the support is successfully retested.
If you still want to trade profit-oriented on the digital currency market at that time, you could look at other cryptos.
Although some altcoins like Aave, Synthetix or Uniswap have been showing relative strength in the last 24 hours, a new meme coin could be worth a look for brave, brave investors.
Because this meme base takes advantage of the internal conflict-Russia – the meme token started as it can be created from data on chain Wagner Inu (WAGINU) This Sunday and could see viral hype complete with parabolic performance.
Coin season meme with breather: Profits remain possible
Meanwhile, the overall meme coin market is still good for attractive profits. PEPE pumped around 65% in one week, FLOKI saw price gains of 25% and BONE was even able to increase by 35%.
This shows the following picture. Sometimes meme coins from the second tier work better than Bitcoin or even DOGE & SHIB. The two most valuable meme coins don’t really benefit. Looking at meme coins with low capitalization still seems to be the preferred method if investors want to make money with the fun currencies.
Russia crisis goes viral: Wagner Inu ready to pump?
The world has been watching the political situation in Russia for the past few days. The Wagner Group engaged in an exciting power struggle with President Vladimir Putin. The effects are hardly certain yet. The situation remains unclear and the media speculates about the medium-term consequences for Russia, Putin and the world.
However, crypto fans naturally use such events to launch new projects. Tokens of memes related to real events or projects have performed very well in the past few weeks. Think of the temporary proliferation of signs that were based on the world of social media – DISCORD, WECHAT or ONLYFANS.
Now the Wagner Inu Coin (WAGINU) started data on a decentralized chain today. With a clear connection to the current event and a polarizing design, the team could undoubtedly generate interest in its own meme token.
$Wagnerinu COMING SOON
Vibe & HODL
— Wagner Inu (@WagnerInu) June 25, 2023
Precisely this interest is particularly relevant in a fast-moving market segment of meme coins to create viral hype as well as an attractive price increase.
“$Wagrinu: The memecoin for political freedom, human dignity and memes. Buy and HODL $Wagnerinu, which thrives in emergency and tough situations. Get ready for an epic battle of power, politics and memes like never before!”
Anyone interested in the development at Wagner Inu (WAGINU) can follow this through the decentralized data website DEXTools.
Last updated on June 25, 2023
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