ShIB and LPT Lead the Surge of Meme Coins as Bitcoin Stagnates at $29,400

In the recent cryptocurrency market trends, ShIB and PEPE have emerged as leaders in the meme coin pump, while Bitcoin has remained stagnant at $29,400 for three consecutive days.

Trading Volume on Binance Futures

On Binance Futures, the trading volumes of LPT (Livepeer) and 1000SHIB have reached $2.25 billion and $975.24 million respectively. These figures have surpassed Ethereum, ranking second and third, falling just behind Bitcoin. Other notable tokens like BLZ, APE, 1000PEPE, SOL, RUNE, and HIGH rank 6th to 10th, followed by DOGE and XRP.

Top Gainers in the Last 24 Hours

BLZ, LPT, and RUNE have been the top 3 gainers, with 36%, 19%, and 16% gains respectively over the last 24 hours. LPT is the native token of Livepeer, a decentralized live video streaming network protocol based on blockchain technology. BLZ represents Bluzelle, a censorship-resistant decentralized storage network, and RUNE is the native token of THORChain, a decentralized cross-chain liquidity protocol based on the Cosmos software development kit.

Open Interest Trends

1000SHIB’s open interest has seen a decrease of -9.16% over the last 24 hours, standing at $100.37 million.

Conversely, LPT’s open interest has surged to $975.24 million, marking a 43.58% increase. Both Top Trader Long/Short Ratio (Accounts) and Long/Short Ratio are on the rise, indicating that the pump has attracted more traders to short positions. The amount of liquidated short is around $300.

Indicators for LPT Price Trend Reversal

Several indicators are crucial for LPT’s price trend reversal, including:

1. Market makers and manipulators taking profits.

2. Short traders stopping loss or being liquidated in large numbers compared to the open interest scale.

3. A plunge in Bitcoin’s price.

As of now, there are no signs of these indicators, leading to the speculation that market makers and manipulators may choose to continue pumping for more profits.


The recent surge in meme coins, led by ShIB and LPT, has caught the attention of traders and market analysts. With Bitcoin’s price remaining static, the focus has shifted to these alternative cryptocurrencies.

Image source: Shutterstock


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Coinbase Pro Launches Support for Six New Altcoins, Triggering Massive Price Movements

Six altcoins are riding the valuation roller coaster after a surprise listing by top US crypto exchange Coinbase.

In a new blog post, Coinbase says that five Ethereum tokens and one other altcoin will start trading on Coinbase Pro once appropriate liquidity conditions are met.

The Ethereum token API3 (API3) powers a protocol focused on improving traditional application programming interface (API) technology for the Web 3.0 economy. The native token governs the API3 DAO (decentralized autonomous organization).

News of the Coinbase listing initially sent API3 vertical from $3.60 to $4.98. After some choppy price action, it remains up 41.38% to $5.09.

The Bluzelle (BLZ) decentralized storage network was designed to meet the needs of gamers as the online gaming world incorporates crypto assets and non-fungible tokens (NFTs).

The BLZ token lurched from below $0.27 to $0.37 but has steadily corrected to $0.30 – still up 11.1% on the day.

Gods Unchained (GODS) is a trading card game built on the Ethereum blockchain. The game enables users to earn money from their in-game purchases, with the project website saying,

“If you can’t sell your items, you don’t own them.”

GODS jumped from a daily low of $4.36 to $5.79. After some dramatic price swings, GODS remains up 11.46% on the day at $5.00.

Fellow Ethereum token IMX powers Immutable X, an NFT scaling solution designed to facilitate fast transactions with no gas fees. IMX holders can use their tokens to stake, vote, and pay transaction fees.

The Coinbase Pro listing initially caused IMX to climb from $5.64 to $6.53, but it has since seen a selloff and is about even on the day at $5.48.

Measurable Data Token (MDT) is another Ethereum token being added to the Coinbase roster. The project was built to facilitate the anonymous sharing and monetizing of consumer data.

According to the MDT website,

“The more value your data generates, the more you earn.

We only deal with aggregated anonymous data, which means no personal, identifiable data will be shared.

Your privacy is under our protection.”

The MDT price exploded from $0.06 to $0.10, fighting through waves of buyers and sellers to a daily peak of over $0.12, and currently sits above $0.08.

Lastly, is the decentralized finance (DeFi) protocol Ribbon Finance (RBN). This Ethereum-based project enables crypto asset investors to earn yields on their holdings through a structured products protocol that includes options and fixed income as well as futures.

RBN jumped from $1.82 to $2.20, but has since seen a cascade of up-and-down action, and is currently trading for $1.81.

Coinbase says that each token will be available to trade paired with USD and USDT.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Den Rise/Andy Chipus/Vladimir Sazonov


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