The crypto market is going nowhere at the moment, stabilizing instead of rallying or crashing. However, this is not stopping meme coins from noting extravagant rallies as displayed by MANEKI.
BeInCrypto has analyzed two other meme coins that, while not experiencing explosive growth, are still generating enough market movement to make them important assets to watch.
MAGIC•INTERNET•MONEY (Bitcoin) (MIM)
Launch Date – February 2025
Total Circulating Supply – 21 Billion MIM
Maximum Supply – 21 Billion MIM
Fully Diluted Valuation (FDV) – $65.54 Million
MIM experienced an eventful week with sharp rallies early on, followed by slight declines in the past few days. Currently trading at $0.003026, this meme coin has garnered attention due to its performance as a Bitcoin-based token.
Despite recent declines, MIM has surged by 64% over the past week. The token’s unique positioning as a meme coin on Bitcoin adds to its intrigue, especially as meme coins expand into different blockchain ecosystems. This trend indicates growing investor interest and speculation in such assets.
MIM remains primed for further gains, potentially reaching $0.004000 or higher. However, if investors decide to sell, the price could fall back to $0.00200, reflecting the volatility of meme coins. Traders should carefully monitor market sentiment and any signs of selling pressure.
Shiba Inu (SHIB)
Launch Date – August 2020
Total Circulating Supply – 589.2 Trillion SHIB
Maximum Supply – 589.5 Trillion SHIB
Fully Diluted Valuation (FDV) – $7.01 Billion
Shiba Inu’s price is currently at $0.00001189, continuing its downtrend since the start of the year. While the meme coin shows signs of potential recovery, the reduced burn rate has contributed to limiting upward momentum. A continuation of this trend could hinder any substantial gains for SHIB.
The burn rate for Shiba Inu has dropped significantly, falling by 98% over the last 24 hours. A high burn rate usually helps reduce inflation and supports price growth. The current decline in burn rate presents challenges, as it reduces demand and further limits SHIB’s ability to recover in the short term.
SHIB is holding above the support level of $0.00001141 and may continue to consolidate around this price point. However, if it breaches the $0.00001252 resistance, it could invalidate the bearish-neutral outlook.
Small Cap Corner : MANEKI (MANEKI)
Launch Date – April 2024
Total Circulating Supply – 8.85 Billion MANEKI
Maximum Supply – 8.88 Billion MANEKI
Fully Diluted Valuation (FDV) – $38.45 Million
MANEKI has emerged as one of the top-performing tokens this month, gaining 33% over the past week. In the last 24 hours alone, the meme coin surged by more than 30%, showing strong potential for further upward movement. The growth in the cat-themed token market is fueling this momentum.
Despite being a small-cap token, MANEKI has caught the attention of investors. The growing interest in cat-themed tokens has added to its appeal. Currently trading at $0.0043, the coin is on the verge of breaching the $0.0047 resistance. A successful breakthrough could push the price to $0.0055.
However, if the price fails to breach $0.0047, the coin could fall back to $0.0036. Losing this support would invalidate the bullish thesis, causing a drop to $0.0022. Investors need to monitor the price closely to determine the next potential move for MANEKI.
In an engaging session during Paris Blockchain Week, BeInCrypto caught up with Petrix Barbosa, the innovative mind behind Matchain, a blockchain venture that’s reshaping how digital identity and data sovereignty are approached.
Barbosa, who transitioned from a successful career as a venture capitalist, where he managed investments across 250 projects, brings a wealth of experience and a unique perspective to the blockchain landscape. Petrix Barbosa’s insights reveal a compelling vision for the future of blockchain, focusing on user empowerment and innovative use of technology to solve enduring problems in digital identity and data management.
Petrix Barbosa Discusses Matchain and its Mission
Matchain is a layer 2 blockchain platform that primarily addresses the challenges of identity and data sovereignty. Our mission is to empower users by giving them control over their digital identities and data, thus ensuring that they’re the primary beneficiaries of their online presence.
Barbosa on His Pivot from Venture Capital
In my time as an investor, I witnessed many great ideas fail to reach their potential due to the lack of a substantial user base or poor market timing. This inspired me to transition from funding projects to creating a platform that not only serves my vision but also provides tangible solutions to widespread issues in the blockchain community—primarily, user engagement and application.
Matchain’s Innovations in the Area of Identity Sovereignty
Matchain introduces a novel approach to managing digital identity. Unlike traditional models where user data is siloed across various platforms, Matchain allows users to have a single digital identity that spans across both Web2 and Web3. This is crucial for enabling a seamless transition and interaction between these two worlds.
How Matchain Integrates Existing Web2 Infrastructure
Our platform acts as a bridge between the decentralized ecosystem of Web3 and the more traditional Web2 infrastructure. By allowing users to manage their digital identities across both platforms, we facilitate a smoother interaction that enhances user experience while maintaining high security and trust.
Future Developments From Matchain
Looking ahead, we aim to expand our user base significantly. Currently, we are backed by strategic partnerships, like the one with Paris Saint-Germain, which not only broadens our exposure but also integrates our technology into mainstream applications.
In the next two years, we plan to onboard millions of users, leveraging our innovative solutions to enhance their digital interactions.
Barbosa on Unique Challenges in Developing Matchain
The biggest challenge was shifting the focus from simply creating a blockchain solution to ensuring it was user-centric and capable of addressing real-world problems. This involved integrating AI to manage and analyze data effectively, ensuring that our platform could deliver personalized and contextually relevant experiences to users.
Matchain Over the Next Five Years
In five years, I envision Matchain at the forefront of blockchain technology, leading the charge in digital identity management and data sovereignty. Our platform will likely become a critical tool for users and companies looking to navigate the complexities of the digital age securely and efficiently.
Bitcoin (BTC) is hovering below the $94,000 level while still showing sensitivity to US economic indicators. Accordingly, this week’s US economic data could spark volatility in the crypto market.
From consumer confidence to labor market strength, economic indicators could influence sentiment and sway crypto prices.
US Economic Data To Watch This Week
The following US economic indicators could affect the portfolios of crypto market traders and investors.
“Let me try to help you make sense of everything that’s going on: Tariff madness, plunging consumer confidence, rising recession odds, market fragility and all the ways that the economy will shape your life,” economist Justin Wolfers remarked.
Consumer Confidence
The Consumer Confidence report will start the list of US economic indicators with crypto implications this week. On Tuesday, April’s Conference Board’s Consumer Confidence Index will show whether households are optimistic about financial conditions.
March’s 92.9 index signaled a relatively pessimistic outlook among US consumers concerning the economy and their financial situation.
According to data on MarketWatch, the median forecast is 87.4. Strong confidence often correlates with risk-on sentiment, driving investment into Bitcoin and altcoins.
Accordingly, reading below expectations might trigger profit-taking, denting confidence in the economy’s overall strength.
With global trade tensions, an unexpected decline could amplify safe-haven demand for Bitcoin, though volatility remains a risk.
“The soft data suggests that the hard data is set to fall. Consumer Confidence can lead the unemployment rate (inverted). If that ends up being the case this time around, we’re looking at around 6% or higher,” wrote Markets and Mayhem.
JOLTS Job Openings
This week, the Job Openings and Labor Turnover Survey (JOLT), which tracks demand, adds to the list of US economic indicators.
The last JOLTS report was released on April 1, covering February 2025 data. It reported job openings at 7.6 million, hires at 5.4 million, and total separations at 5.3 million. The next JOLTS report, for March 2025, is due on Tuesday, with a median forecast of 7.4 million.
A rebound above 7.6 million for crypto could signal economic resilience, boosting risk assets like Bitcoin. Strong openings suggest hiring confidence, potentially increasing disposable income for crypto investments.
However, a weaker-than-expected figure, potentially below the median forecast of 7.4 million, might stoke recession fears. Such an outcome would drive investors toward Bitcoin as a hedge.
Crypto markets react to labor market signals as they influence Federal Reserve (Fed) policy expectations. With rates at 4.25%–4.5%, a tight labor market could delay cuts, pressuring speculative assets.
ADP Employment
The ADP National Employment Report tracks private-sector job growth and will be out on Wednesday. March 2025’s 155,000 jobs beat expectations, signaling labor market strength despite tariff concerns.
A strong reading above 160,000 for crypto could ignite bullish sentiment, as job growth fuels consumer spending and risk appetite. If employment data suggests economic expansion, Bitcoin could gain more upside potential.
However, a miss below the March reading of 155,000 or below the median forecast of 110,000 might spark fears of a slowdown. This could push investors toward stablecoins or Bitcoin as safe havens.
Unlike the Bureau of Labor Statistics’ Non-farm Payrolls (NFP), ADP’s payroll-based methodology excludes government jobs. This methodology offers a granular view.
With markets eyeing Fed policy, ADP’s outcome will set the tone for Friday’s NFP.
Q1 GDP
The advance estimate for Q1 2025 GDP will be released on Wednesday. This data also measures economic growth.
Q3 2024’s 2.8% annualized rate fell short of expectations, pressured by trade deficits. Meanwhile, Q4 2024’s 2.4% reading came following a downward revision to imports.
Strong GDP growth above 3% in crypto signals economic health, often boosting Bitcoin as investors embrace risk. Nevertheless, crypto markets are sensitive to GDP revisions and influence Fed rate decisions.
With inflation concerns lingering, a strong GDP, higher than Q4’s 2.4%, might reduce rate-cut hopes, pressuring speculative cryptos. Conversely, sluggish growth could spur expectations of monetary easing.
PCE
The Fed’s preferred inflation gauge is the Core PCE (Personal Consumption Expenditures) Price Index. This US economic indicator, covering March, will come out on Wednesday this week after the March 28 data covering February.
After February 2025 saw a 2.5% year-over-year (YoY) PCE index, economists anticipate a modest drop to 2.2% for March, reflecting persistent price pressures.
Nevertheless, a PCE reading below 2.5% for Bitcoin could signal cooling inflation, raising hopes for rate cuts and boosting sentiment toward Bitcoin.
A hotter-than-expected figure above the previous reading of 2.5% might tighten Fed policy expectations. PCE’s exclusion of volatile food and energy prices offers a stable inflation view, making it a key driver of crypto sentiment.
With markets sensitive to monetary policy shifts, traders should monitor services spending, as it reflects consumer resilience. Nevertheless, volatility is likely, as PCE shapes the Fed’s rhetoric.
“March PCE inflation (out on Wed Apr 30) should read 2.1% (rounded). April PCE (out in late May) should read 2.0% (rounded). Tariffs are a boss but this is the Fed’s target measure. It could be time to cut, to be honest, politics aside,” wrote hedge fund manager Ophir Gottlieb.
Initial Jobless Claims
This week, the Initial Jobless Claims, reported every Thursday, adds to the list of US economic indicators. This data measures weekly unemployment filings. Claims are a high-frequency indicator, offering real-time labor market insights, and crypto markets often react swiftly to surprises.
For the week ending April 18, 222,000 claims indicated a steady labor market despite tariff chaos. Accordingly, claims below 222,000 could signal growing employment, fostering risk-on sentiment, and lifting Bitcoin.
However, higher claims above 222,000 could spark concerns of economic softening, driving investors to stablecoins or Bitcoin for safety. With the Fed closely monitoring labor data, an unexpected spike might fuel rate-cut speculation.
Non-farm Payrolls
The Non-farm Payrolls (NFP) report will be released on Friday. March 2025’s 228,000-job gain exceeded expectations, with unemployment at 4.2%.
A strong NFP could drive bullish momentum, as job growth signals consumer spending power. A weak report below the median forecast of 130,000 might trigger recession fears, pushing capital to Bitcoin as a hedge or stablecoins for stability.
NFP’s broad scope, covering 80% of GDP-contributing workers, makes it a market mover. Key interest will also be on wage growth, as 0.3% monthly increases suggest inflation pressures, potentially capping crypto gains.
With markets pricing in Fed policy, surprises could spark sharp volatility.
