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Breaking News: VanEck Predicts Bitcoin Could Reach $2.9 Million In New Long-Term Capital Report
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Breaking News: VanEck Predicts Bitcoin Could Reach $2.9 Million In New Long-Term Capital Report

HarryPotterObamaSonic10Inu Casts Spell On The Memecoin Sector And Soars 26%, Which Token Will Follow?

Reynaldo Marquez
Reynaldo Marquez
Last Updated: August 15, 2023 12:00 am
2 mins read
HarryPotterObamaSonic10Inu BITCOIN ETHUSDT

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While Bitcoin and the crypto market experienced, HarryPotterObamaSonic10Inu and the memecoin sector are blooming. Recent data points to double-digit gains across the board for these assets, with the potential for further profits if Bitcoin and larger cryptocurrencies continue trading sideways.

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As of this writing, HarryPotterObamaSonic10Inu trades at $0.14, with profits of around 30% during the last 24 hours. On the previous seven days, the token saw a 54% profit, but the last month has been the best in performance, with a 246% increase.

HarryPotterObamaSonic10Inu
HarryPotterObamaSonic10Inu price trends to the upside on the daily chart. Source: Tradingview

HarryPotterObamaSonic10Inu Leads Memecoin Sector’s Gains As Bitcoin Acts Like A Stock

Data from market tracker CoinGecko indicates that HarryPotterObamaSonic10Inu’s gains have been followed by ElmoERC and DogeKaki. These cryptocurrencies experienced 10% and 11% rallies’ respectively.

Other cryptocurrencies that experienced positive price action in the memecoin sector include Mooncat CAT and Mog Coin. The last of these tokens recorded a 17% increase over the past hour and at the time of writing alone.

As Bitcoin, Ethereum, and other significant cryptocurrencies trend sideways, traders are attracted to riskier and volatile assets. In addition, these tokens experienced more volatility as they possessed less trading volume and liquidity.

In other words, smaller traders can influence the price action on some of these assets. While on Bitcoin, and even Dogecoin (DOGE), traders need billions of dollars to influence the price action.

When Will The Bitcoin Price Move Again?

But how long can traders in the memecoin sector benefit from a low volatility environment? Per a recent update from Bitfinex Alpha, the current status quo is bound to persist.

As seen in the chart below, there has been a record-low liquidation in the derivatives sector, and as a result, prices have remained steady. Traders should look out for catalyst events in the macroeconomics landscape and a potential liquidation spike if they are betting on HarryPotterObamaSonic10Inu and other memecoins.

HarryPotterObamaSonic10Inu  Bitcoin BTC BTCUSDT
Liquidations across the crypto market versus the BTC price are declining. Source: Bitfinex Alpha

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Silent Bitcoin Storm: Glassnode Uncovers What Lies Beneath The Surface

1 year ago

If the spike finally comes through, Bitcoin’s price could finally move again, crushing memecoins and the altcoins market. The Bitfinex Alpha report stated:

(…) the low volatility regime should continue for a while. The lack of futures liquidations, euphoria and pain in the markets are also the reason for lack of any significant orderflow developments as the BTC price continues to range sideways even after breaking down from a significant range between $29,500 and $31,500.

Cover image from Unsplash, chart from Tradingview

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Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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