🐶 Dogecoin has retraced -18% from its top back on Saturday. But on-chain activity indicates that whales may not be done with all the bullish momentum of crypto's top meme coin. Though they took profit just before the top, their activity remains very high on DOGE's network.

📺 Our latest video market update with ThinkingCrypto looks at the whales' continued coin-hoarding ways. We also discuss whether the dying meme coin hype (for now) is exactly what crypto needs for a bounce!

📊 Crypto markets have retraced across the board, leaving traders calling for sub-$50K prices once again. However, history shows that when we see such low 7-day average trader returns for top caps like BTC, ETH, ADA, XRP, DOGE, and LINK, bounce probabilities rise significantly.

📊 The crypto community has shown an increased focus on Bitcoin, Ethereum, and Solana compared to meme coins and other sectors. Crypto's consistent rises occur most often when there is a focus on top caps (a sign of caution) rather than more speculative assets (a sign of greed).

📈 Solana has made history today surpassing Binance Coin to move into the #4 spot in crypto for the 1st time in its 4+ years of trading. Expect the two assets to be in close proximity to one another, but SOL's +35% growth vs. BNB's +10% the past 2 weeks gives SOL the momentum.

📊 Below is the 10-year chart of notable altcoins and the amount of non-empty wallets (hodlers) on their respective networks:

Litecoin: 8.08M Wallets
Dogecoin: 6.69M Wallets
XRP Ledger: 5.24M Wallets
Cardano: 4.48M Wallets
Shiba Inu: 1.39M Wallets
Chainlink: 722K Wallets

📊 All of the major volume spikes from the past month, illustrated by different sectors.

📈 Increased volume in Bitcoin and Layer 1 assets lead to future crypto rises
➡️ Increased volume in AI & Big Data coins are neutral
📉 Increased volume in meme coins lead to tops

🐂 The lower a cryptocurrency's 30-day MVRV is, the higher the likelihood we see a short-term bounce:

Bitcoin: -4.0% (Mild Bullish)
Ethereum: -4.3% (Mild Bullish)
XRP: -3.5% (Mild Bullish)
Dogecoin: -16.7% (Very Bullish)
Toncoin: -0.6% (Neutral)
Cardano: -12.6% (Very Bullish)

📉 Crowd sentiment has dropped significantly for XRP, Dogecoin, and Shiba Inu after their respective price drops. Patient traders who have been waiting for the crowd to give up on these large cap altcoins may finally have their buy opportunity with FOMO at a 2024 low.

💸 Supply in Profit is calculated by summing a token's value vs. its value when it first originated on the blockchain. The percentage of top assets' supply in profit is:


🪙 Bitcoin: 98.3%
🪙 Ethereum: 95.1%
🪙 Chainlink: 86.8%
🪙 Dogecoin: 82.2%
🪙 XRP: 78.8%
🪙 Cardano: 53.5%