Despite softer-than-expected US headline and core inflation numbers for June, which weighed heavily on the US dollar and US yields whilst also pushing up US equity markets as Fed tightening bets ease, crypto markets have failed to rally.
Bitcoin (BTC) was last near $30,500 and ether (ETH) was last in the upper $1,800s.
Over all market cap was last broadly unchanged in the $1.19 trillion region.
For crypto investors keen to diversify their holdings away from blue-chip names like bitcoin and ether, here are some of the best coins to consider buying on Friday.
Conflux (CFX), the token that powers Conflux’s high throughput, Tree-Graph powered layer-1 blockchain, has pumped close to 10% on Wednesday.
The token was last trading just under $0.20 and bulls are eyeing a push back to the north of the 21 and 200-Day Moving Averages, both of which sit close to $0.21.
A break above here could set CFX up for a retest of a downtrend from the earlier yearly highs.
Mr Hankey Coin (HANKEY)
A brand-new meme coin themed on South Park’s Mr Hankey, a sentient, jolly piece of feces and the cartoon’s former Christmas deity, has been going viral on social media in the past two days ahead of the launch of a stealth presale that anyone can get involved in on Thursday.
Web3’s hottest new shitcoin is understood to be looking to raise a modest $500,000 via a sale of 40% of its 1 billion token supply, valuing the token at a very modest $1.25 million.
That leaves plenty of room for a potential pump.
And Mr Hankey Coin stands a very good chance of pumping for a few reasons.
Firstly, the limited availability of the token in presale means that pent up demand and FOMO will be sustained into its DEX launch.
Secondly, the project has pledged to lock 40% of the token supply into Decentralized Exchange (DEX) liquidity, ensuring smooth trading conditions and removing the possibility of a rug pull.
Finally and most importantly, Mr Hankey Coin appears to be backed by a savvy marketing team, with rumours are already circulating the teams behind $SPONGE and $PEPE might be involved.
Whoever the team is, they appear to be hard at work spreading the word, with Mr Hankey Coin already featuring all over the crypto media on reputable news sites like Beincrypto and here on Cryptonews.com.
Mr Hankey Coin’s brown paper can be viewed here.
AGIX, the token that powers SingularityNET’s decentralized AI-focused crypto ecosystem, has pumped about 5% on Wednesday amid broad optimism within the crypto AI sector.
Sparking the optimism was the news that Twitter, Tesla and SpaceX CEO Elon Musk is setting up a new AI company called xAI to rival OpenAI and ChatGPT.
AGIX, last in the $0.23s, is currently probing for a breakout of a downtrend that has been in play going back to March, which could potentially set up a retest of the 200DMA at $0.30.
Thug Life Token ($THUG)
Despite only launching a week ago, brand new meme coin project Thug Life Token has already been able to raise a whopping more than $1.2 million via the presale of its $THUG token.
Various industry observers have tipped $THUG to be a major success given the refreshing take it brings to the meme coin space.
$THUG is not based around out-of-fashion dog memes or short-term social media fads, like meme coins created in response to Elon Musk or Andrew Tate tweets.
Rather, $THUG is themed around the timeless Thug Life movement that was first popularized by hip hop stars such as Snoop Dogg back in the 80s.
As the word of $THUG spreads, more degenerates are expected to pile cash into the project.
That’s because Thug Life Token has all of the makings of the next 100x meme coin.
At the presale price of $0.0007 and total maximum supply of 4.2 billion, the Thug Life Token presale only values the coin at a very conservative $2.94 million fully diluted market cap.
That’s much smaller than most other comparable presale projects and the low presale market cap leaves plenty of room for explosive upside.
Meme coin degens have no time to lose when it comes to getting involved in the project early.
That’s because the $THUG presale will end once the $2.058 million mark is hit, or when the 10-day countdown runs out (whichever comes first).
After that, the only way to secure $THUG tokens will be via the project’s airdrop and community rewards campaign or at a potentially elevated price on major decentralized exchanges (DEXs).
FET, the ERC-20 crypto token that powers Fetch.ai’s AI-powered platform for building, deploying and connecting so-called “smart agents” to automate web3 processes, also saw a small pump in tandem with other AI coins like AGIX.
If FET, last around $0.215, can get back to the north of its 21 and 50-Day Moving Averages at $22.50, the stage is set for a near-term retest of support/resistance in the $0.25 area.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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