Japan is planning to earmark $6.3 billion (900 billion yen) for US tariff relief amid escalating economic turmoil. This strategic allocation is likely to send shockwaves through both traditional and cryptocurrency markets. Reportedly, the government intends to tap into budget reserves and existing allocations, with a decision potentially coming as early as Tuesday. $6.3 Billion Boost: Japan to Ease US Tariff Tensions According to a Kyodo news report, the Japanese government intends to deploy about $6.3 billion in state funds for emergency relief to ease the effects of US tariffs. Prime Minister Shigeru Ishiba emphasized that the relief package aims to mitigate concerns that US tariffs could harm Japan’s exports and subsequently impact the broader economy. Warning that the increased US tariffs could adversely affect key Japanese industries, such as automobiles and steel, Ishiba called for the government to take all possible measures to mitigate their impact. The Prime Minister… Read More at Coingape.com
The third quarter of the year and the first week of July started off with considerable volatility. Some crypto tokens posted sharp gains, while others suffered losses. However, the weekend is expected to bring about a positive shift in some altcoins.
BeInCrypto has analyzed three altcoins for investors to watch this weekend, owing to their network development.
Jupiter (JUP)
JUP has had a positive week, rising by 12.4% in the last seven days, currently trading at $0.442. The altcoin is consolidating between $0.471 and $0.424, indicating that it may be preparing for a breakout.
The Parabolic SAR indicator is positioned below the candlesticks, signaling a potential uptrend for JUP. This technical pattern suggests that buying pressure may build, which could push the altcoin higher. Additionally, the launch of Jupiter Studio, allowing the community to create tokens, could further increase demand for JUP.
With the Parabolic SAR indicating an uptrend and the launch of Jupiter Studio, JUP has the potential to break the $0.471 resistance. If successful, it could target $0.517. However, without sustained bullish momentum, the altcoin may continue consolidating within its current range, limiting short-term gains.
Dog (Bitcoin) (DOG)
DOG, the meme coin built on Bitcoin, is expected to have an airdrop event over the weekend, with Kraken exchange marketing July 6 as the date. Airdrops typically generate excitement, potentially driving demand for the token.
DOG has gained significant investor attention due to its resilience in the market. Currently trading at $0.0041, the meme coin could move toward $0.0047 if the airdrop generates heightened demand. This potential price increase could make DOG a popular choice for traders looking to capitalize on short-term movements during the event.
However, if the airdrop hype fails to create significant price changes, DOG may experience sideways movement above the $0.0039 support level. A drop below this support would invalidate the bullish outlook, potentially sending the altcoin down to $0.0035.
Hosico Cat (HOSICO)
HOSICO has gained significant attention from investors, with a 172% rise in the past week. The meme coin is currently trading at $0.0514, showing strong momentum. This surge highlights HOSICO’s potential, but market dynamics could shift as the coin faces resistance and investor sentiment evolves in the short term.
The Relative Strength Index (RSI) indicates that HOSICO is overbought due to the recent surge. However, this may lead to a cooling-off period, allowing the altcoin to build momentum for further growth. If the bullish trend persists, HOSICO could break past the $0.0619 resistance, aiming for $0.0775 in the coming weeks.
If sharp selling pressure emerges, HOSICO could lose support at $0.0486. This would invalidate the current bullish outlook, potentially leading to a decline toward $0.0347.
According to the latest filing in the Harper Vs IRS case, the US government argued that the individual has no right to block the IRS from accessing his crypto records. While the user alleged that the IRS unlawfully accessed his private financial information, the government is urging the Supreme Court to rule in favor of the IRS. US Government Sides with IRS in Coinbase User’s Privacy Case US Solicitor General D. John Sauer argued in a May 30 filing that James Harper, a Coinbase user, lacks Fourth Amendment protection for his financial records stored with the exchange. The government claims Harper voluntarily shared his data with Coinbase, and the IRS followed proper procedures, like judicially approved summons, to obtain it. The filing also referenced Coinbase’s own privacy policy, which notified users that their information might be disclosed to law enforcement agencies. “The IRS may ‘examine any books, papers, records, or… Read More at Coingape.com
An analyst has identified a hidden Solana (SOL) price fractal that suggests the altcoin could rally to between $400 and 500 this cycle. The analyst’s bullish forecast on Solana price aligns with a recent research report stating that the SOL blockchain outperformed all layer one networks after recording the highest app revenue. Analyst Forecasts Solana
