ADA short positions spike; experts double down on Dogecoin, Angry Pepe Fork
Release: 2024/06/29 00:46 Reading: 290
Santiment: Cardano Shorts Could Indicate Bullish Trend
Santiment suggests that the increasing short positions on Cardano (ADA) could bode well for the altcoin. While the on-chain analytics firm anticipates a rise in ADA's price, Dogecoin (DOGE) and Angry Pepe Fork (APORK) have also garnered support from industry experts as promising altcoins to consider for investment.
Rising Cardano Shorts Deemed Bullish
Despite a recent recovery, traders maintain bearish sentiments towards Cardano. However, Santiment interprets the growing short positions as a bullish indicator. Coinglass data confirms the increase, with the long/short ratio for ADA at 0.9755.
Santiment believes that liquidating short ADA positions could trigger a price increase. Additionally, a previous Santiment analysis indicates potential for a rapid rally towards $1, solidifying Cardano's position among the top altcoins to monitor.
Optimism Surrounding Dogecoin
BitMEX co-founder Arthur Hayes remains bullish on Dogecoin, predicting further price appreciation in the coming weeks. Hayes cites the meme coin's positive price action as a reason for increasing his DOGE holdings.
Other experts share Hayes' optimism. TATrader_Alan anticipates a breakout from a triangle consolidation pattern soon and TheCryptoBull77 projects a potential rise to $1.69, making DOGE another noteworthy altcoin to watch.
Angry Pepe Fork Attracts Interest with Novel Utility
As a unique memecoin focused on utility, Angry Pepe Fork has garnered significant attention. The project introduces "Conquer To Earn," a reward system incentivizing users for promoting the coin.
This innovative approach has caught the eye of industry specialists, who view it as potentially disruptive in the memecoin market. Several prominent figures have touted APORK as a potential 100x token, making it a promising investment opportunity.
Investors have also taken notice, as APORK has raised over $140,000 during its presale. Priced at $0.014 per coin, APORK offers a compelling entry point for investors seeking exposure to a potentially lucrative project.
Conclusion
Despite current market volatility, Cardano and Dogecoin continue to flash bullish signals. Additionally, Angry Pepe Fork emerges as a promising newcomer, introducing a novel approach to the memecoin space. Based on its strong fundamentals, APORK has become a trending coin among investors.
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