Coinbase’s Base Network Allegedly Fueled a $16 Million Pump and Dump

After months of decline, Solana meme coins are regaining bullish momentum. Daily trade volumes are increasing dramatically, and most of the leading tokens are posting notable price gains.

The increasing network activity is also helping Solana to recover after a 12-month low. Most recently, pump-and-dump schemes and tariff chaos rocked the meme coin sector, but speculative assets are regaining momentum as macroeconomic fears start to cool down.

Are Solana Meme Coins On the Rise Again?

Solana meme coins have been a popular sector of the crypto ecosystem, but a few controversies have taken bites out of the market in recent months.

In addition to pump-and-dumps and the Argentinian LIBRA scandal damaging these assets’ reputations, tariff-related chaos helped draw investors away from these meme assets. Despite this, however, volume is picking back up:

“Meme trading platform Axiom’s daily trading volume exceeded $100 million for the first time on April 14, accounting for about 50% of the market share of Solana Meme trading platform. The number of trading users reached 26,800, a record high,” claimed Colin Wu.

Axiom may represent half of the trading for these assets, but it isn’t the only site with heightened volumes. Pump.fun recently launched Pumpswap, a new decentralized exchange that quickly captured 14% of Solana’s DEX market.

Trading volumes are spiking on PumpSwap, with daily trading volume surging by 50% on Tuesday, April 15.

Data from DefiLlama shows that DEX trading on Solana is starting to recover after a massive drop in March. In other words, Solana meme coins’ growth isn’t isolated to either of these platforms either.

These stats have a long way to go before they recover their all-time high from January, but these signs of regrowth are still very promising.

Additionally, individual Solana meme coins are making huge strides in price performance. In the last week, eight of the ten largest assets in this category posted double-digit gains.

One of the two losers this week was TRUMP, which has been adversely impacted by tariff chaos and the latest token unlock. Nonetheless, it managed to achieve a 4.5% price jump. Most of the top ten had gains of over 20% during this period.

This increased network activity is also reflected in Solana’s price. Last week, it began recovering from a 12-month low and has since rocketed up with 20% price gains.

For now, it seems like Solana meme coins are eyeing a real comeback, at least for the short term. However, another macroeconomic shock could see these risk assets reacting more severely than the wider market.

The post Solana Meme Coins Are Eyeing a Comeback as Trading Volumes Surge appeared first on BeInCrypto.

Onyxcoin (XCN) has plunged by 15% in the past week and is poised to extend its decline as selloffs strengthen.  

Adding to the bearish outlook, a key technical indicator is on the brink of forming a death cross, a signal that often precedes deeper price declines.

XCN At Risk of Sharp Decline

BeInCrypto’s assessment of the XCN/USD one-day chart reveals the potential formation of a death cross on its Moving Average Convergence Divergence (MACD). 

This bearish pattern emerges when an asset’s MACD line crosses below the signal line, signaling a shift from bullish to bearish momentum. Such a pattern often precedes significant price drops, especially when accompanied by weakening volume and broader market uncertainty.

At press time, XCN’s MACD line is poised to cross below its signal line. If confirmed, the death cross would indicate intensifying selling pressure and signal the start of a prolonged downtrend.

Moreover, XCN’s double-digit decline over the past week has pushed its price towards its 20-day exponential moving average (EMA). This key moving average measures an asset’s average price over the past 20 days, giving more weight to recent prices.

XCN’s dip toward the 20-day EMA suggests that bulls are losing control, while sellers continue to dominate the market. If XCN’s price fails to hold above the key moving average, it may trigger a deeper correction.

XCN Bears Take Charge

XCN’s looming MACD death cross and its potential decline below the 20-day EM signals a strong shift toward bearish territory. These indicators suggest that bearish momentum is gaining traction, with buyers showing little strength to reverse the current downtrend.

If the decline continues, XCN’s price could fall to $0.0075.

On the other hand, a spike in new demand for XCN will invalidate this bearish outlook. In that case, the token’s price could reverse its ongoing decline, break above $0.0174, and climb to $0.023.

The post Onyxcoin (XCN) Faces Strong Bearish Pressure as Death Cross Looms appeared first on BeInCrypto.

Ethereum (ETH) shows signs of strength and caution after a sharp 49% rally in the past week. While its market cap has returned above $300 billion and EMA indicators remain bullish, momentum indicators are starting to cool.

The ADX has dropped from 61 to 47.99, and RSI has fallen from 86 to 63, suggesting the uptrend may be losing steam. However, buyers are still active, and if ETH breaks above key resistance, the next leg higher could take it past $3,000.

ETH DMI Signals Cooling Rally and Rising Bearish Pressure

Ethereum’s DMI indicator shows that its ADX has dropped from 61 to 47.99, signaling a weakening trend strength.

The ADX (Average Directional Index) measures the intensity of a trend, with values above 25 indicating a strong trend and above 40 suggesting very strong momentum.

A declining ADX, even if still elevated, may indicate that the current trend is losing steam, despite analysts recently pointing out that Ethereum could overtake Bitcoin.

The +DI line has fallen sharply from 47.96 to 27.2, showing that bullish momentum has cooled significantly.

Meanwhile, the -DI line has climbed from 3.39 to 13.97, suggesting that bearish pressure is starting to rise.

While the trend still favors the bulls, the gap between +DI and -DI is narrowing, and if this continues, Ethereum could face a short-term pullback or enter a consolidation phase. However, in the last hours +DI went up and -DI went down, suggesting ETH buyers are trying to maintain their control.

Ethereum RSI Cools From Overbought Zone but Remains Bullish

Ethereum’s RSI has dropped to 63 from a high of 86 three days ago, after holding above the overbought threshold of 70 for three straight days.

Interestingly, despite the recent dip, RSI has bounced from 54 just a few hours ago, suggesting some renewed buying interest in the short term.

RSI (Relative Strength Index) is a momentum indicator that ranges from 0 to 100. Readings above 70 typically indicate overbought conditions and potential for a pullback, while readings below 30 suggest oversold conditions and a possible bounce. Values between 50 and 70 generally point to moderate bullish momentum.

At 63, Ethereum’s RSI shows that the asset has cooled off from recent overbought levels but still maintains underlying bullish strength. This could mean the market is resetting after a strong rally, allowing room for another leg up if buying continues.

Ethereum Eyes $3,000 After 43% Weekly Surge, But Key Resistance Holds

Ethereum price is up 43.5% over the past seven days, with its market cap climbing back above $300 billion. Its EMA lines continue to show a strong bullish structure, reinforcing the current uptrend.

However, ETH recently tested the $2,617 resistance and failed to break through.

A successful breakout above that level could open the path toward $2,855 and even $3,000 for the first time since early February, with a possible extension to $3,442 if momentum accelerates.

On the downside, the $2,320 support is key. If ETH tests and loses that level, the price could slide to $1,938. A stronger bearish move might push it further down to $1,736.

The post Ethereum Eyes $3,000, But ETH Price Shows Key Resistance Ahead appeared first on BeInCrypto.