The Crypto Fear and Greed Index (CFGI) has surged to 66, indicating a prevailing sentiment of “greed” in the cryptocurrency market. As investors tread the line between fear and greed, notable movements in Dogecoin (DOGE), Shiba Inu (SHIB), Rebel Satoshi (RBLZ), and Bonk (BONK) are catching the attention of the crypto community.
CFGI in the Green
The Crypto Fear and Greed Index (CFGI), currently standing at 66 out of 100, serves as a pivotal barometer reflecting the prevailing sentiment within the cryptocurrency market. Ranging from extreme fear at 0 to extreme greed at 100, this index provides investors with valuable insights into market dynamics.
With the CFGI positioned in the “greed” zone, indicating a heightened willingness among traders to engage in buying activities, it shows the interplay between investor psychology and market trends.
As traders navigate this balance, the CFGI becomes an essential tool for assessing risk appetite and potential market shifts, offering an understanding of the emotional landscape influencing crypto transactions.
DOGE: Rise in Network Adoption Amid Price Struggles
The Dogecoin (DOGE) ecosystem has witnessed an unexpected surge in adoption, defying market expectations. In the spotlight is a notable metric — the growth in new non-zero DOGE addresses.
Santiment’s on-chain data reveals a staggering increase of 413,800 such addresses within the past week, holding between 0.001 and 1 DOGE. This surge in adoption occurred against a backdrop of a 23% decline in DOGE prices, emphasizing a curious decoupling between network adoption and market value.
These new non-zero wallets may be a result of existing users leveraging the newly introduced DRC-20 token standard on the DOGE network.
SHIB: Top Non-Exchange Addresses Accumulate
Shiba Inu (SHIB) has experienced a single-day surge of over 5%, breaking a prolonged period of sideways movement.
Top non-exchange SHIB addresses have accumulated a substantial amount of the cryptocurrency over the past two months, according to market intelligence platform, Santiment. The total supply held by these addresses has increased from 493.42 trillion to 497.11 trillion.
In contrast, top exchange SHIB addresses show a decline in supply, indicating liquidation by token holders. This divergence suggests that while some investors opt for short-term gains, others are focused on the enduring value proposition of SHIB.
BONK Shows Strength
Within the Solana ecosystem, Bonk has emerged as a meme coin capturing attention with its vibrant community and strategic partnerships. The project’s unique approach, airdropping 50% of its total supply to the Solana community, emphasizes fairness and inclusivity. Notably, Binance’s decision to list perpetual futures for BONK has ignited discussions on its potential impact on the token’s price trajectory.
While Bonk has experienced an 800% increase over the past year, recent market movements indicate a 5% rise in the last 24 hours and a 23% decrease in the past 30 days, according to data on CoinGecko.
The Rebel Satoshi (RBLZ) Presale
Rebel Satoshi’s meme coin, RBLZ presale is live now.
The project claims to be on a mission to unite the Web3 community against centralization and oppressive rules.
The token RBLZ, serving as Rebel Satoshi’s governance and membership asset, offers investors access to a staking program, an NFT marketplace, and a play-to-earn (P2E) game.
As Rebel Satoshi enters Round 5 of its presale, the price of RBLZ stands at $0.0224, with over 70% of the tokens allocated for this phase already sold. A vast array of crypto assets are accepted on the platform, fostering a seamless onboarding process.
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