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Old Wolf

@oldworf

317 Following
294 Followers


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Are celebrity tokens good or bad for Web3? Execs weigh in Cointelegraph approached professionals across Web3 to get their thoughts on the emergence of celebrity-backed meme tokens in crypto. As the cryptocurrency market seeks a new narrative to drive growth, celebrity-backed token projects have emerged, sparking a trend that has elicited mixed reactions from seasoned crypto enthusiasts regarding this new wave of memecoins. While some argue that celebrity tokens can attract new users to crypto, others believe their speculative nature could mislead consumers about blockchain’s true value. Celebrity memecoins can onboard new users Those who argue for celebrity tokens see them as an effective on-ramp into cryptocurrency. Solo Ceesay, co-founder and CEO of social wallet Calaxy, believes these tokens can make crypto more accessible to more people
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Bitcoin Mayer Multiple hits lows that last accompanied $30K BTC price The Bitcoin price is increasingly low compared to its 200-day moving average — a key “buy the dip” signal, per the classic BTC price indicator. Bitcoin has delivered a “healthy reset” to bullish sentiment thanks to a key BTC price indicator hitting eight-month lows. In a post on X (formerly Twitter) on June 27, popular analyst On-Chain College said that classic patterns were repeating on the Bitcoin Mayer Multiple. Mayer Multiple reaches lowest since October 2023 Bitcoin is still at $60,000, but a strikingly bearish mood has accompanied its latest 17% dip. As Cointelegraph reported, the Crypto Fear & Greed Index is challenging 2024 lows, and across social media, there are few signs that the average hodler expects a price turnaround.
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