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Solana’s memecoin $BEER has experienced a remarkable surge, gaining 195% over the past seven days and pushing its market cap above $250 million. On-chain reports from Lookonchain attribute this meteoric rise to the aggressive buying behavior of a significant whale. This whale has spent 31,052 SOL ($5.2 million) to accumulate […]
BEERCOIN ($BEER) has seen its value decline by an additional 28% today, extending its losses to over 60% in the past week. The steep decline is attributed to significant sell-offs by large holders, including a notable pre-sale participant and another major whale. According to on-chain reports, a pre-sale participant has […]
Today, BEERCOIN ($BEER) saw a dramatic price drop of over 25%, plunging to a low of $0.00009 before quickly recovering above $0.0003. Traders are advised to exercise caution when trading $BEER. A whale has been manipulating the market by selling large quantities of $BEER, driving the price down and causing […]
The Solana blockchain has revealed a sobering story, adding to the turbulence in the bubbly world of memecoins, such as BEER. The coin rose to prominence in recent weeks, experienced a dramatic price swing, and raising concerns about the inherent volatility and risks associated with these internet-driven tokens. Related Reading: Bitcoin Ownership Trends: Short-Term Spike As ETFs Gain Popularity Report Whales And Rug Pulls: A Recipe For Disaster BEER’s wild ride began with a classic memecoin scenario: a surge in popularity fueled by online hype and community buzz. However, this exuberance masked a lurking danger the outsized influence of large token holders, often nicknamed “whales.” When several whales decided to cash out, their massive sell orders triggered a domino effect. The price of BEER plummeted a staggering 70% in a matter of hours, pulling the token’s price down from around $0.0003 to $0.0001. Fears of a “rug pull” a scenario where developers create a memecoin, inflate its price through marketing, and then vanish with investor funds ran rampant. While the BEER team vehemently denied any wrongdoing, the incident highlighted the vulnerability of memecoins to manipulation by large holders. LATEST: Someone sold $10 million worth of Solana Memecoin $BEER (@beercoinmeme), causing its price to drop by 70%. pic.twitter.com/22H5cM5wFq SolanaFloor (@SolanaFloor) June 13, 2024 Unlike established cryptocurrencies with diverse ownership structures, memecoins often have a high concentration of tokens held by a small group of individuals. This creates an environment where a few whales can significantly impact the price, leading to extreme volatility. BEER Weathers The Storm, But Questions Remain Fortunately for some BEER holders, the token price staged a partial recovery after the initial selloff. However, the damage was done. The incident served as a stark reminder of the inherent risks associated with memecoin trading. BEER currently sits nearly 40% lower than its pre-crash price, currently trading at $$0.00026, with a cloud of uncertainty hanging over the horizon. The question of who triggered the sell-off remains unanswered, with the BEER team pointing fingers at presale investors. BEERUSDT trading at $0.00028 on the daily chart: TradingView.com Solana’s Memecoin Boom: A Double-Edged Sword The BEER episode also sheds light on the double-edged sword of Solana’s burgeoning memecoin scene. Solana, known for its faster transaction speeds compared to Ethereum, has become a breeding ground for memecoin developers. Related Reading: Ethereum Longs Crushed! Who Got Burned In The $62 Million Fire Sale? The ease of launching tokens on Solana has attracted a wave of new projects, but it has also led to a potential oversaturation of the market. This, coupled with the lack of inherent utility for many memecoins, creates a speculative frenzy where price movements are driven more by hype than by actual value. Featured image from Pixabay, chart from TradingView
Here's a recap of the recent discussion about Bitcoin between Bloom-X co-founder Ramon Tayag and Rebittance co-founder Miguel Cuneta.
The post Crypto Experts Discuss the Bullish Case on Bitcoin appeared first on BitPinas.
Conduct research on the NFT founders. Verify their level of activity. Distinguish them from mere NFT monkeys or bots on Twitter.
The post Women of Web3 Panel Gives Advice to NFT Collectors, Investors in Spotting Legit Projects appeared first on BitPinas.
The occurrence of AI is not something that Vanessa Barrameda, General Manager of XR, did not expect to happen, at least in the next decade.
The post X3 General Manager: Everyone Did Not Expect the Rapid Growth of AI appeared first on BitPinas.
Featuring PH Web3 Fest's Buenaventura and Bilango, Web3 PH Summit's Star, Bicol Blockchain Conference's Javier, and Global Blockchain Summit's Delfin.
The post [Panel Recap] Challenges of Organizing Web3-Related Events appeared first on BitPinas.
Yuga Labs was said to be looking at raising around $50 million from the sale of 100,000 tokenized land plots, but the firm’s co-founder says it's all “fake news.”
Bitcoin, Beer, and Bitstories had various guest speakers and startup representatives who pitched their platforms to those who attended the event.
The post Bitcoin, Beer, and Bitstories July 2022 Recap appeared first on BitPinas.
The panel advised staying updated with news, practicing DYOR, and being cautious of impostors and scammers online.
The post Women of Web3 Shares Tips to Keep Moving in Web3 Space Despite Bear Market appeared first on BitPinas.
The discussion consisted of Real Dea'’s Teresa Pia, X3’s Vanessa Barrameda, Enjin’s Marian Vanslembrouck. and ScarletBox’s Sheree Gotuaco.
The post [Event Recap] Leaders in Blockchain: Female Trailblazers Discuss the Future of Web3 and Crypto appeared first on BitPinas.
Discover the insights from industry experts as they discuss the pros, cons, and risks of AI in the Web3 space during the Bitcoin, Beer, and Bitstories panel.
The post [BBB February Recap] Panelists Discuss Pros, Cons, and Risks of AI in Web3 Space appeared first on BitPinas.
Explore the insights shared by industry experts at the Bitcoin, Beer, and Bitstories May episode, co-presented by Bitget.
The post [BBB May Recap] Key Factors Affecting Crypto Trading and Investment Strategies appeared first on BitPinas.
The speakers, GCash's Mark Nunez and Likha's Nikko Que, discussed the GCrypto feature and the e-wallet's venture into NFTs.
The post [Event Recap] Gcrypto, GCash, Likha Take Center Stage in April Web3 Meetup appeared first on BitPinas.
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