SCOOP’S TL;DR

📈 MARKET SENTIMENT

• Yesterday witnessed a significant influx of over $500 million into Bitcoin exchange-traded funds (ETFs), while the outflow from Grayscale Bitcoin Trust (GBTC) remained minimal. Despite a minor overnight fluctuation, Bitcoin managed to sustain its gains, albeit triggering approximately $212 million in liquidations within the past 24 hours.

🏋️ BARBELL’S WEEKLY PICK

• $POPCAT - POPCAT

🗞️ TOP STORIES

• Dogwifhat to Vegas

• Binance x Solana

• Retreat sees huge liquidations

🏆 WEEKLY WINNER

• Solana

😡 REKT SECTION

• Senators Against ETF

💎 PREMIUM SCOOP

• The gaming sector continues to heat up. Discover this AAA Gaming project. At the current Marketcap, this is undervalued & has 50X potential.

  

• Crypto Total Market Cap $2.64T - 24/hour change 1.28%

• Crypto Market Cap Total Volume $164B - 24/hour Change - 16.83%

  Majors - 24/Hour change

  • BTC - $69,277 - 3.1%

  • ETH - $3730 - 1.28%

  • With the emergence of Bitcoin ETFs, there's a notable shift in the dynamics of the crypto market. It appears that cryptocurrency valuations are increasingly influenced by ETF flows, highlighting the growing significance of macroeconomic developments in the crypto space. Despite a relatively lower inflow number of $132 million yesterday, this week remains significant, emphasizing the need to consider broader market trends rather than isolated data points. Currently, Bitcoin sits around $67,500 while Ethereum hovers at $3,670, both showing a significant rebound from yesterday's highs. However, the real standout performer is SOL, which surged to $180 and maintains a robust position around $180, significantly outperforming other major cryptocurrencies. Assets that demonstrate strength during market downturns often present promising buying opportunities, indicating SOL's resilience. Although the recent liquidations totaling $700 million might cause some market unease, the cleanup in funding suggests a potential bounce-back opportunity. Meanwhile, the frenzy surrounding meme coins continues, exemplified by $BOME reaching a staggering $850 million market cap shortly after launch and securing multiple exchange listings within 24 hours. Despite experiencing a dip, tokens like $WIF showcased remarkable meme strength, hinting at potential momentum for the next upward movement. At present, it's prudent to exercise caution and observe market developments without adding excessive risk. While maintaining a bullish stance, it's essential to assess the broader market landscape for potential opportunities.

  Start your free premium trial

  🔮 NARRATIVES TO FOCUS ON IN 2024

• - AI Infrastructure / Autonomous agents

• - GPU / Cloud Computing

• - Gaming / Game-fi

• - DEPIN (Decentralised Infrastructure)

• - RWA - Real-World Asset tokens

• - Memes - (you’re not too good for them)

• - BTC Defi / BRC20

• - New Layer 1’s

• - Parallelization EVM / Modular Blockchains

• - Solana Killers

  

  Be the envy of friends…

  Become a member of Triple Scoop Premium to be the first to hear about the latest gems & undiscovered projects this bull cycle.

  Start your free premium trial

🔥 THE TRENDING NARRATIVE

Crypto is a narrative & trend-driven game, where attention goes, the money flows. So what’s hot?

AI - GAMING - MEMES

…DEPIN?

As it stands, we continue our thesis that AI, gaming & Memes are the hottest categories in crypto right now. It is where our bets are placed, sure other areas are going to do well, but is important to keep things simple and successful. Another sector that is also showing its hand on the back of the AI hype is Depin. (Decentralized Physical Infrastructures). A major player in this arena is $RNDR, which operates a cloud-based GPU model, but plenty of other projects are popping up in this sector, including the likes of $OPSEC, $GPU, $KNDR to name a few.

The rise of AI has created a worldwide shortage of GPU (Computing Power), so projects that serve to provide decentralized cloud-based GPU power where other projects can rent computing power are gaining attention.

Emphasis on the world (Attention). Look, whether these newer crypto protocols enable fair, & affordable computing power or not is another debate, but if they drive attention (Number go up).

You need to have your wits about you if you’re in the market for new upcoming projects. While the gains can be huge, scammers prey on greed, and will launch a tonne of rugs inside trending narratives.

🏋️ BARBELL’S WEEKLY PICK

In each issue, our Founder ‘Jack Barbell’ delivers a hot rising star crypto asset that is yet to explode.

You can Follow Jack Barbell on X - @thebarbell_

$POPCAT - THE CAT KEEPS ON ‘POPPIN’

Project - POPCAT ($POPCAT)

MarketCap - $303M

Where to buy: - Raydium Dex with Phantom Wallet

Chain (SOLANA)

Barbells’s take

Dog coins have dominated meme coin culture, but there has gotta be a cat coin right?

Our stance on memes is, that it’s often best to back the leader of each category, seeking out beta plays gets messy, it’s time-consuming, and 90% of the time the leader of the category runs harder, longer & much higher than you imagine.

So with $POPCAT reaching $300M market cap, you may think you have missed the boat, but we think it has a lot more gas in the tank.

Let’s find out - Is it the King of Solana Cat coins?

$POPCAT, a symbol of Internet culture and community-driven innovation. This meme coin is poised for a bullish run and its $1 price target might just be the beginning of its ascent.

1. Riding the Wave of Internet Culture: $POPCAT is a classic meme & manifestation of popular culture. With its roots deeply embedded in the internet meme sphere, $POPCAT the crypto has captured the imagination of thousands of holders, evidenced by the staggering growth of 3,000 new holders in just three days, bringing the total to an impressive 28,500.

2. Strong Community Ownership: Unlike many meme cryptocurrencies, $POPCAT is entirely community-owned, fostering a sense of empowerment and inclusivity among its holders. This grassroots approach not only enhances decentralization but also ensures that the community is deeply invested in the project's success, this creates an army of marketers going wild on Twitter spreading the word of POPCAT.

3. Resilience Amid Market Volatility: Despite recent market turbulence, with Bitcoin experiencing significant fluctuations, $POPCAT has demonstrated remarkable resilience. Even in the face of the recent price drops from $BTC $POPCAT has held strong, trailing just 20% below its recent peak.

4. Attracting Attention from Industry Influencers: $POPCAT is catching the eyes of industry influencers and big names in the crypto space. With notable figures like RookieXBT, MoonOverlord, and & other major players expressing interest, $POPCAT is garnering attention from those who understand the pulse of the market & can attract retail investors.

5. Capturing the Emerging Cat Coin Market: $POPCAT so far is leading the charge in the emerging category of cat coins. With a simple yet catchy name and no trademark or intellectual property issues, $POPCAT has a clear path to establishing itself as a prominent player in this burgeoning market. With an estimated 600 million cats globally, the market for cat related coins is pretty big.

7. Capitalizing on the Dog vs. Cat Market Disparity: While dog-themed cryptocurrencies dominate the market with a combined market capitalization of $52 billion, cat coins, with a mere $800 million market cap, are significantly undervalued. $POPCAT has the potential to bridge this gap and emerge as a formidable contender in the pet-themed cryptocurrency space.

$POPCAT boats a devoted community, resilience in the face of volatility, and vast market potential, $POPCAT is on track to soar to new heights. As we enter the era of "cat coins," $POPCAT stands poised to lead the pack, making the $1 price target seem like just the beginning of its journey to success.

GAMING, AI & MEMES ARE OUR LEADING NARRATIVES RIGHT NOW.

DISCOVER THIS AAA GAMING PROJECT THAT WE HAVE JUST INVESTED IN. WE ARE ACTIVELY BUILDING OUT OUR AI & GAMING PLAYS AHEAD OF THE GAMING MEGA RUN!

Start your free trial of Scoop Premium today & get your next 4 Premium issues Free with 2-week Free trial. Then just $10 a month.

Dogwifhat To Vegas - A successful campaign

At a glance 🔎

• Memecoin, Dogwifhat, has raised $700k to have its iconic image plastered on the Vegas Sphere.

• The campaign aimed to raise $650k for a week’s worth of Sphere ad space.

• Most donations were in small denominations of USDC between $1 and $10 showing the sheer volume of individuals contributing.

• There is no set date for Dogonsphere but the extra funds will be used for more marketing.

🕵️ Scoops take: 

Dogwifhat bullishness didn’t stop with the raising of the funds…the price action of the coin has soared.

It is up 35% in the last week and up 600% in the last month.

It doesn’t stop there! it has overtaken Solana dog rival Bonk & Ethereum rival Floki. It also saw Dogwifhat rise to the status of the fourth-largest meme coin in the world.

The funniest part of all of this? Dogwifhat has a current Marketcap of $2.96bn and the Sphere cost $2.3bn to build.

Vegas, soon come.

Binance x Solana - Another W for users

At a glance 🔎

• Binance’s Web3 wallet has launched a Solana integration.

• Users will now be able to manage tokens and access dApps directly.

• The supported Dapps include Drift, Dual Finance, Jito, Jupiter, Magic Eden, MarginFi, Orca, PsyOptions, Pyth Network and Raydium.

🕵️ Scoops take: 

This recent integration by Binance is a huge win for users.

Anything to bridge the gap of multiple platforms is a win in our eyes. Having multiple services within one user-friendly platform will no doubt bring the masses in.

Solana is parabolic right now, the low-cost fees and high speeds are seeing huge traffic flowing in, so what is better than being able to do all things Solana in one place?

More of this, please.

Retreat Sees Huge Liquidations - Longs and Shorts both suffered

At a glance 🔎

• Bitcoin had a sudden retreat this week to $66k.

• It has since recovered a little back to the $67-$68k region but that didn’t save the mass liquidations witnessed.

• In the past 24 hours, $810m worth of long and short positions have liquidated.

• Over 200,000 traders were affected.

  🕵️ Scoops take:

Control your emotions! 10-20% of corrections are completely normal.

Just process what we have seen in the last 150 days with a 175% rise or even just the last 14 days with a 42% rise, do not panic.

The majority of the liquidations are from long positions so maybe some were getting a little ahead of themselves but the long-term track remains promising.

ETF volumes are down 48% on the 14-day average but again, this was to be expected so if anything those who are complaining about missing out on the process are once again presented with an opportunity well below the latest ATH.

Charge on.

🏆 WEEKLY WINNER🏆

Solana

More impressive stats in a week where Bitcoin and Ethereum struggled.

Solana broke ATH by Market cap

Outperformed all major EVM chains

Over 715,000 active wallets had sol interaction in the last 24 hours

The price went from $138 to $184 before retracing to $172.

No, it’s not all quite down to Dogwifhat - but it just adds to the amazing week the Solana space has had.

😡 THE REKT SECTION 😡

Senators Against ETF

Two Democratic Senators have written to Gary Gensler asking him to deny other Crypto ETFs.

The reasons are that “ETFs expose investors to fraud & manipulation and pose a risk to retail investors.”

Cracks are starting to show, those in power hate the Degens making generational wealth without any assistance from those in “power”

Plenty are arguing holding only Fiat poses enough risks in itself so let’s not allow for the tarnishing to continue.

We doubt this is a dodgy play to buy the dip but this is one way to tell us that these two democrats didn’t choose rich!

Feast your eyes on the delights, surprises & Alpha below.

Subscribe to Triple Scoop Premium to read the rest.