With Market In Free Fall, Is New Crypto Meme Index a Safe Buy?

The infamous dogecoin was one of the first meme-based digital currencies and it’s safe to say that the coin inspired a myriad of meme-focused or joke tokens meant to be used for fun. However, while dogecoin has had a phenomenal 2021 rising 8,515% in 12 months, during the last month dogecoin prices have stagnated a great deal. At one time, dogecoin held the fourth largest market capitalization but today, the original meme-coin’s overall market valuation has slid to the ninth position. Dogecoin Slips to the Ninth Largest Market Position After Price Highs Subside, 67% Down From....

As decentralized digital assets, Bitcoin and the crypto market at large has often been regarded as an isolated bubble or safe haven from the traditional stock market. But as an asset class, cryptos have always been fundamentally tied to equities, closely tracing price levels of major indices. This was clearly displayed in the global stock market crash last March, as Bitcoin plummeted nearly 50% as the S&P 500 and NASDAQ index both suffered 30% losses. […]

China's ChiNext Market is a tech-focused index akin to Nasdaq. The Shenzhen based index is currently crumbling: down nearly 8% today and more than 27% over the last three weeks. ChiNext in Free Fall. The ChiNext market has suffered tremendous losses recently. According to Reuters, the index is crumbling because of policy concerns. The dramatic losses come as Morgan Stanley advised it's clients to avoid Chinese stocks Friday Morning, telling their clients "Don't buy this dip". Evidently analysts at Morgan Stanley don't think this is rock-bottom, and the charts agree. The ChiNext has lost....

Anticipation among both crypto enthusiasts and bettors remains high for a potential Kanye West meme coin. If it becomes a reality, the token would almost certainly be one of the best cryptos to buy. The uproar has been caused by an alleged CoinDesk article, which all but confirmed Kanye’s meme coin ambitions. However, the market isn’t so sure anymore, as sources are saying CoinDesk received fake news. Nevertheless, the prediction market is seeing mind-blowing volumes ($18M+ at the time of writing) on the query of whether Kanye West will launch a meme coin by the end of....

Altcoins have taken over bitcoin in terms of outperformance this month. While the crypto market as a whole has suffered losses, bitcoin has declined more in a time when the digital asset would have served as safe haven for investors. Now, with altcoins taking the lead in terms of recovery, it points to the downtrend worsening over time, especially for bitcoin. Bitcoin Fails To Hold Up Bitcoin, for the last month, has had its fair share of ups and downs. However, despite being a market mover, the digital asset has fallen short when it comes to holding its value. It saw an overall decline of....