Market bleeding before tomorrow US inflation news?

09.05.2023

Dear traders,

After dropping many alts, the drop continues, and they are pricing in tomorrow’s bad news.

BTC broke to the 27k range and is showing no strength to pump back up. If support at 27k fails on a daily basis, we could see a fast sweep to 25k and a retest of support.

ETH still holds at the mid-1800$ range and needs to hold it before a new leg to 1700$ prints out.

XRP holds at 0.425$ and shows no strength for a push up. This could bring the price to a range of 0.37$, which is great for re-entering longs.

LINK still fights the mid-6$ zone and needs to hold above support or the next leg down is possible. Buy all dips under $7 in spot mode, as it will pay out in the future with LINK.

SOL breaks under 20$ and pushes back, but that wick could be filled soon if the market doesn’t bounce back up.

DXY is fighting a downtrend channel and still shows no strength for the next push up.

Crypto/stock daily news:

WTF HAPPENED TO BITCOIN THIS WEEKEND?

Everyone was talking about one thing this weekend: the Bitcoin blockchain.

Why? 2 reasons…

There were ~500K unconfirmed transactions waiting to be completed on the Bitcoin network (a new all-time high)

Transaction fees soared to ~$20 per transaction. Last week, those same fees averaged about $1.20 per transaction – a 1,500% increase. Ouch.

In other words, the Bitcoin network was more congested than your local highway on a Friday during rush hour.

So, what’s causing this? Crypto’s new favorite buzzword… BRC-20. AKA memecoins on the Bitcoin blockchain.

You see, crypto investors are a lot like middle schoolers – every month they have a new crush. First, it was DeFi, then NFTs, now it’s BRC-20 tokens.

Since BRC-20 launched a few weeks ago, ~12K different tokens have been created and the total market cap is now worth a whopping $920M.

Some of these tokens have jumped over 21,000% in value so, of course, everyone is trying to get in on the action now…

And ladies & gents, this is only the beginning of the Memecoin Mania…

BRC-20 tokens are being added to centralized exchanges to make it easier to trade. $ORDI (the first BRC-20 token ever created) was added to Gate.io on Sunday and has already seen $75M+ in trading volume within the first 12 hours.

New investors are entering crypto with the recent massive gains. My cousin Vinny just called me to ask if I knew anything about the “Bitcoin PEPE token”.

On top of that, it’s never been easier to make a token. Check it out, a Twitter user (@iamwhitelights) recently showed how tokens can be created in 27 seconds.

And with the Twitter video having 18K+ bookmarks, we can expect a whole bunch of new memecoins launching this week…

And ladies & gents, this is only the beginning of the Memecoin Mania…

New investors are entering crypto with the recent massive gains. My cousin Vinny just called me to ask if I knew anything about the “Bitcoin PEPE token”.

On top of that, it’s never been easier to make a token. Check it out, a Twitter user (@iamwhitelights) recently showed how tokens can be created in 27 seconds.

And with the Twitter video having 18K+ bookmarks, we can expect a whole bunch of new memecoins launching this week…

!!JAKEs SURVIVAL GUIDE TO MEMECOINS!!

Today, we’re gonna cover 3 cool tools we’ve come across that will help you avoid getting scammed, hacked, or rug pulled during this Memecoin Mania…

1/ DEXTools

This is an all-in-one tool for new crypto tokens. It tracks real-time prices, transactions, liquidity, charts, and more.

What’s cool about it: I don’t know how to read a smart contract perfectly (your boy was only blessed with a double-digit IQ), but Dextools helps out by giving insights into:

whether or not that specific token has a verified contract
whether it’s safe or a scam
the latest transactions for that token

2/ TokenSniffer

This is a tool that analyzes the token’s smart contract, tokenomics, holders, etc, and then generates a security audit score for that specific token.

What’s cool about it: TokenSniffer tells you stuff like if…

The token is sellable or just a honeypot scam

The contract source is verified

The creator wallet holds more than 5% of the circulating token supply

There’s adequate liquidity for the token

For example, I looked up the new $PEPE token that everyone is talking about and well, TokenSniffer gives it a security score of 50/100. *Dun dun duuuuuun*

Here were the biggest red flags found:

3/ Twitter

Now, I know what you’re thinking: “Twitter?!”

Yes, it’s true. And although Twitter looks a lot like WorldStar 2.0 with all the videos of fights and drama, there’s still one super useful feature….

Twitter search. You can use this to look up the cash tag and coin name (i.e. $PEPE). This will give you insights into two important things:

How many people are talking about the token? (i.e. is everyone talking about it or only a few)
Who is talking about the token? (i.e. are real people talking about it or is full of Twitter bot posts from JoeMama69420)

JAKE ALERT: Buckle up, ladies & gents – it’s gonna be a crazy few weeks.

The Memecoin Mania is only just getting started and it’s a high-stakes game. Fortunes can be built (and lost) overnight.

So, be careful out there Traders!