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Cryptocurrency News Articles
Bitcoin (BTC) Price Could Continue Soaring as Meme Coin Casino Project Memebet Casino (MEMEBET Token) Presale Surges Past $384k
Oct 07, 2024 at 10:05 pm
The Bitcoin price rose 2% in the last 24 hours to trade at $63,542 as of 03:16 a.m. EST on trading volume that surged 69% to $20.7 billion.
Investment adviser Metaplanet, also known as Japan’s MicroStrategy, has disclosed an additional purchase of 108.78 Bitcoin (CRYPTO: BTC).
After the latest purchase, Metaplanet's total BTC holdings now stand at 639.5 BTC, valued at approximately $40.6 million at the current price.
What Happened: Metaplanet, known for its focus on Web3 and metaverse-related stocks, adopted Bitcoin as a reserve asset in May to hedge against the volatility of Japan’s native currency.
The company's latest purchase now positions it as the second-largest holder of Bitcoin among Asia-listed companies, following Meitu, which holds 941 BTC.
Metaplanet Inc. purchased an additional 108.78 #Bitcoin on Oct. 7, pushing its total BTC holdings to 639.5.
The investment adviser, known as Japan's MicroStrategy, now holds BTC worth about $40.6 million, the second-largest among Asia-listed firms.https://t.co/Pz2AHupm1T
— Metaplanet Inc. (@Metaplanet_JP) October 7, 2024
According to data from GeckoTerminal on a 1-day chart, BTC's 1-day price shows that it has been trading between $56,000 and $72,000.
A recent downtrend below the $56,000 support caused the price of Bitcoin to form an inverse head and shoulders pattern.
The bulls aim to use this pattern to propel the price of Bitcoin even further above as it approaches the immediate resistance on the 200-day Simple Moving Average (SMA) at $63,569. BTC price now being above the 50-day SMA encourages this trend.
Moreover, the Relative Strength Index (RSI) seems to be soaring above the 50-midline level, currently at 55, which supports the overall bullish outlook.
If the current trend continues, the bulls could capitalize on the inverse head and shoulders pattern to keep pushing the price of Bitcoin. In this scenario, the bulls are currently targeting the $72,000 resistance.
However, if the bears take control of the price at this level, the price of BTC could plunge back to the $56,000 support zone.
Meanwhile, investors might want to consider diversifying into a new meme coin casino project called Memebet Casino (MEMEBET Token), which has hurtled past $384k in its presale.
YouTube channel Cryptonews, with over 10k subscribers, says that $MEMEBET Token could soar 100x after it launches.
Not the casino we deserve but the casino we need 🎰 #MemeBet #Presale & #Airdrop coming soon! 🚀 #Memecoins, #Crypto gaming and more! 🎮🏆 $COIN $DOG $PEPE #SOL #RNDR
讥讽一下,大家开心就好,不必当真 😆
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