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More institutional options for exposure to cryptocurrencies may soon emerge, with Fidelity and BlackRock recently filing for spot Bitcoin and Ethereum ETFs. But for now, Bitcoin price action remains in consolidation mode following last week’s correction.
This shows a bullish trend for altcoins like Aave, which are both on the rise, and Meme Moguls, a nascent project whose future success remains to be seen; Secondly, it is an exciting and fun concept that attracts the attention of experienced investors.
Meme Moguls – Combining Finance and Entertainment for Memecoin Investors
While technical analysis and traditional coins are important, they can be a bit boring. Aave combines finance with entertainment through its community and the Aavegotchi game. According to the project team, Meme Moguls aims to do something similar for the memecoin community. The platform, memecoin, will be a decentralized exchange, a community hub, combining win-win games with the fun of memes.
For many of us, this quirky element of crypto is part of what keeps us coming back for more.
But the Meme Moguls team realized that there was no single place where people could trade memecoins, share insights, and make money at the same time.
People will be able to earn MGLS simply by joining the community, winning from MM games, or choosing the best meme portfolio in the MM fantasy league.
The DeFi side is also important and investors will be able to see and analyze memecoin trends, earn MGLS and NFT by providing liquidity and staking their coins.
Meme Moguls is available in the first phase of presale at $0.0021 and is projected to increase 100x in presale alone, so the only way is up! The team is also giving away $10,000 at the end of each pre-sale phase to reward early investors.
Click to visit Meme Moguls
Bitcoin holds the line above the $35,600 support level
Bitcoin is trading intermittently following a jolt of profit-taking as major asset managers submit ETF applications. Analyst Daan Crypto sees this period of stability as healthy, allowing the market to digest recent volatility. The big question for Bitcoin is whether it can build momentum for its next breakout attempt.
Price action so far has found support near $35,700 and the monthly volume weighted average price. Historically this level has provided reversals during pullbacks. Holding here keeps short-term momentum intact. However, Daan warns that failure to maintain this base could accelerate selling pressure towards the $30,000 lows.
For now, the decline in bearish momentum indicates that buyers who benefited from the declines may return and further downside movement may be limited. This changing behavior suggests that Bitcoin is digesting recent fluctuations and participants are re-evaluating their opinions. Once the directional sign emerges, Bitcoin could challenge the resistance near $45,000. But until the next trend emerges, patience remains key.
Bitcoin maintains its position and is currently changing hands at $36,294.
Aave Gathers Amid CZ’s Departure and Chainlink Collaboration
When Bitcoin goes sideways after a rally, altcoins often jump. Aave has seen a 5.2% gain in the last 24 hours as the market waits to see where Bitcoin will go. This follows the news from CZ that Binance has resigned due to the current investigation. Although many are sad to see the bastion of crypto CEXs resigning, the net effect will be that Binance will be able to continue operating, which is ultimately bullish for the entire market, including Aave.
According to Central Charts, short-term technical indicators for Aave show a strong bullish trend.
From a long-term development perspective, collaboration with Chainlink’s interoperability protocol also looks quite positive.
However, currently Aave is struggling with its stablecoin GHO. It has failed to hold steady at the targeted $1 price since its launch in the summer. Aave’s founder said that getting people to use GHO is more important than keeping GHO at exactly $1 in the first place. However, efforts are now underway to retrieve the nail.
Recently, a special group focused solely on the price of GHO, called the Liquidity Committee, was created to push efforts back to $1, allowing a developer nicknamed TokenBrice to reach $0.985 by November 30. While it’s unclear whether they’ll be able to pull it off, this highly public process is experimenting with new ways to balance coins that anyone can learn about.
