Vitalik Buterin’s $EBULL Memecoin Boost: Is $1 Achievable?In the fast-moving world of cryptocurrency, one mention from a key figure can send token prices soaring. Such was the case when Ethereum co-founder Vitalik Buterin highlighted $EBULL, a relatively unknown memecoin, on social media. Following his tweet, $EBULL skyrocketed by over 3000%, temporarily surging to a price of $0.001618. However, after the initial euphoria, the token's value has since corrected, currently trading at $0.0005037.
Vitalik Buterin’s Charitable Influence
Vitalik Buterin’s stance on memecoins has evolved over time. Rather than dismissing them outright, he’s embraced their potential for positive societal contributions, notably by converting memecoins sent to him into Ethereum (ETH) for charitable donations. Over the last nine days, Buterin has donated $884,000 to various causes, after converting $2.78 million worth of memecoins into ETH. One of those tokens was $EBULL, alongside others such as Moo Deng (MOODENG) and Monsterra (MSTR).
Buterin’s tweet, which praised $EBULL for its charity initiatives, catapulted the token into the limelight. He expressed admiration for memecoins that make a positive impact on the world and encouraged developers to donate tokens directly to charity instead of sending them to him. This alignment with social good has created a growing perception that memecoins can serve a greater purpose, beyond just being speculative assets.
The $EBULL Surge and Immediate Correction
$EBULL saw a meteoric rise, shooting up by more than 3000% within an hour of Vitalik’s tweet, with a brief peak at $0.001618. The token’s market capitalization also ballooned to $12 million during this period, capturing the attention of both seasoned and new traders alike. However, this rally was short-lived, and $EBULL’s value has since retreated to $0.0005037. While this correction might seem concerning, it’s important to note that price fluctuations are common in the crypto space, particularly for emerging tokens like $EBULL.
Technical Analysis of $EBULL
From a technical standpoint, $EBULL remains an intriguing prospect. The current price of $0.0005037 is supported by a strong base, and the Relative Strength Index (RSI) of 46 suggests that the token is neither oversold nor overbought. This positioning implies a potential for continued growth without being in the danger zones of extreme volatility. The crucial support level at $0.0005 has held firm, and traders are eyeing a rebound.
Looking ahead, the token’s short-term resistance lies around the $0.001 mark, and if $EBULL can break through this barrier, it could re-ignite a rally toward its all-time high of $0.0133, achieved in August 2024. With the token’s total supply capped at 10 billion $EBULL, speculatively, it could reach $1, which would push its market capitalization to a significant $10 billion.
Can $EBULL Reach $1?
The Ethereum is Good token ($EBULL) has a strong narrative driving its momentum. Its association with Vitalik Buterin has brought credibility, especially considering the token’s charitable contributions. As more projects in the cryptocurrency space adopt socially beneficial models, there is growing interest in memecoins with a mission.
However, the road to $1 won’t be easy. For $EBULL to reach that price point, it will require substantial adoption, liquidity, and widespread listing on major exchanges. Currently, $EBULL is available on smaller platforms like LBank and Poloniex, but plans are underway to get the token listed on major exchanges such as Binance, Coinbase, Kraken, and OKX. These listings could dramatically increase the token’s visibility and trading volume, making the $1 target more realistic.
Moreover, the team behind $EBULL is reportedly working on forming partnerships and collaborations that could further bolster its market position. If the token gains access to a larger audience and proves its utility beyond charitable donations, the path to higher valuations becomes more feasible.
Broader Market Sentiment
The broader cryptocurrency market has been unpredictable in 2024, with many altcoins and memecoins experiencing volatility. However, positive sentiment has been building around tokens that focus on social good, thanks in part to Vitalik Buterin’s endorsement.
$EBULL’s surge follows a similar pattern seen with other memecoins that have gained from Buterin’s attention, such as Moo Deng (MOODENG), which saw a 470% increase in value. This pattern highlights how influential figures like Buterin can shift market dynamics. In fact, Ethereum itself saw a slight uptick in price, rising by 1.2% and briefly touching $2,476, largely attributed to Buterin’s renewed activity in the memecoin space.
Conclusion: What’s Next for $EBULL?
While $EBULL’s recent price surge was short-lived, its long-term potential remains intact. With solid technical support, a total supply of 10 billion tokens, and Vitalik Buterin’s backing, there is plenty of optimism surrounding the token. However, for $EBULL to reach $1, it will require continued market adoption, increased liquidity, and listings on major exchanges.
The memecoin market is volatile, and traders should approach it with caution. But with a growing trend of socially conscious tokens, $EBULL could be well-positioned to capitalize on the increasing demand for memecoins with real-world utility.
In the end, $EBULL’s future will depend on its ability to sustain its current momentum and navigate the challenges ahead. If the token’s development team delivers on its promises and secures more exchange listings, the possibility of reaching $1 may not be as far-fetched as it seems.
Charity
ETH's "Burn" Model and its Relationship with Politics/CharitiesIn today's inflationary economy where money printing reigns supreme, the idea of "burning" money to maintain a currency's worth stands out as counterintuitive and different. It's also highly illegal - creating your own money supply (counterfeit) or destroying them are usually both felony offenses in most fiat systems right now.
In a way the ability to control a currency's money supply is the biggest draw of crypto on a fundamental level. What happens when we give that power to the people instead of relying on the government to do it for us? When the recession hits later this year, people are going to have a lot of time to ponder that question further.
Vitalik Buterin, to his credit, paved the way towards a "burn charity" model. The "fairest" way to redistribute wealth isn't to start a nonprofit or charity - it's for people to simply destroy their wealth and remove it from the ecosystem. This makes everyone else's money worth a little bit more as a result, always in favor of those who have less.
In a way, it functions like an Universal Basic Income, raising the economy from the bottom up, as Andrew Yang claimed during his US presidential run in 2020. (Vitalik supports UBI too btw.) It is the "fairest" way to redistribute wealth.
The "burn charity" model gets interesting when applied to politics and sociology because it highlights the fundamental problems with human nature in a very clear way. If the end goal is to destroy money supply, it explains why people might get appealed to violent ideas such as "eat the rich" or the destruction of private property - it is striving towards that same idea of redistribution of wealth through the destruction of money in itself. (Luckily in crypto, we can do this in a peaceful way, which politicians should be talking more about, imo.)
On the flip side, fiat has always been against "burn charities" -- you can't create nor destroy fiat money (not that there's a strong will to do that right now by anyone) and the problem with redistribution through taxation is that the government can't be trusted to handle the money in a responsible way. (A "fair" government would take money they seized/collected and simply destroy them, not keep them, imo.)
All of these ideas seem outlandish and radical to our sensibilities right now, which might explain the reasons why good ideas like UBI has had trouble passing in political arenas, despite its popular appeal. People intuitively know that it's a good thing, but often can't explain why. But maybe the idea of "burn charities" might get us a little closer to what we want. Couldn't hurt, either way.
And crypto is the ideal place to experiment with these ideas that are untenable in the real-world due to political realities right now. But I hope that the #Web3 folks will see the opportunity that's there and push the envelope further - it may be our only hope, after all. 🙏
twitter.com
buying opportunitycrab harmonic pattern:
1.6 BC=$0.00001394
2 BC=$0.00002218
2.24 BC=$0.00002969
2.6 BC=$0.00004701
3.6 BC=$0.000158
Shiba Inu (SHIB) A Ticking Time Bomb 1 cent Realistic?I know say what you want about Shiba Inu. It’s just another Dogecoin clone, there’s no value, it’s a meme token, or it’s a shitcoin. However, I can’t help but notice how Shiba Inu just looks like at some point in the future there’s going to be another parabolic price spike followed by a enormous retrace. Shiba Inu’s chart almost seems like a spontaneous stablecoin. Ever since the Coinbase listing Shiba Inu has been on my radar. Now possible talks of partnerships with Robinhood is circulating.
SHIB has been in a big horizontal pattern since June. From 0.00000610 as support to 0.00000900 as resistance. The point of control is where most the trading and selling occurred is at 0.00000791. I'd say getting in on SHIB below 0.00000600 is a good deal. Even after the Elon Musk flash crash in May Shiba Inu's price has remained pretty steady since then.
The community for Shiba Inu is very strong and has grown tremendously this year with over 900,000 Twitter followers under a year. The fact that there's a strong robust growing community is a good sign for the longevity of the ecosystem. Even more so Shiba Inu has it's own DEX Shibaswap with already $205 million Total Value Locked and they have there own NFT marketplace. Shiba Inu is establishing it's crypto roots in charity giving as well. $1 billion worth of Shiba Inu has been donated to an India Covid relief fund from Ethereum founder Vitalik Buterin earlier this year. Which makes this cryptocurrencies origins even that much more interesting.
Now the million dollar question everybody has been talking about... Can the price of Shiba Inu reach $0.01 cents? Is that really even possible with a total supply of 1,000,000,000,000,000 (1 Quadrillion) and a current circulating supply of 497,730,966,630,395 (497 Trillion) ? The short answer is NO.
However, Shiba Inu's price will be contingent on how much token burning will take place in the future. 50% of the supply has already been burned. If the token burning continues for Shiba Inu, the community continues to grow, the DeFi ecosystem continues to expand, partnerships expand, and there's a gradual reduction in supply then the possibility of $0.01 cents becomes more realistic. But for the meantime that isn't a price target I would consider or even shill out. Shiba Inu getting back above 0.00005000 is where I'd be looking at.
Keep Shiba Inu on your radar. This is a highly speculative cryptocurrency like all meme coins are and even most cryptocurrency. But Shiba Inu is developing to be a little more than a meme coin in my opinion. Time will tell.
Much Peace, Love, Health, and Wealth!
Piggyback the profiteers After some conversation with a young single mom and what she goes through to get her and her 2 yr old diabetes meds @ $13hr...f to the big pharma and f to the health care that does not cover such a life saving drug. It's not a conspiracy...it's a cultural failure to recognize how far we have come in such a short time. Some will call it profiteering...sure but it's also about what is done with those profits...what could be done. So I'm in on medtronic with the mission to take their pillaging and raping of the target audience, get some profits and help someone that needs help with their medication.
www.diabetes.ca you can donate as well....I just want to take the strain off someone I know personally.
Bullish Gartley pattern on PINK after longer-term bat patternGiven BTC's recent bullish movement I suspect most alts are finally about to see some sustained positive action. The fibonacci extension to the right is the length of XA starting from point D in order to determine common targets beyond the obvious A, B, and C points. 1.27, 1.618, 2.27, 2.618, etc for more aggressive targets based on this pattern.