The frenzy around meme-based cryptocurrencies continues, with a new player stealing the headlines from PEPE coin.Milady is the latest entrant in this space, and its self-organized meme coin, LADYS, is based on an anime avatar non-fungible token (NFT) collection.In just 24 hours, the value of Milady’s LADYS coin surged by an astonishing 5,250% and reached a trading price of $0.1528.
Milady Crypto Holders Beware? However, The surge in the value of Milady’s LADYS coin has been accompanied by a concerning rumor.It has been suggested that wallets holding Milady coins will be placed on the Office of Foreign Assets Control (OFAC) blacklist.This list maintained by the US Treasury Department identifies individuals and organizations subject to economic sanctions and other restrictions.BREAKING: Tomorrow morning every wallet who owns a Milady will be placed on the OFAC Blacklist pic.twitter.com/ifbpLuQIqN — David G 🏹 (@d_gilz) May 11, 2023 The reasons behind this rumor are unclear, and it is important to note that any official sources have not confirmed it.
However, such a move by the US government could have serious implications for anyone holding Milady coins.Being placed on the OFAC blacklist could make it difficult for individuals to conduct financial transactions or access certain services.It is unclear why such sanctions would target Milady.While using cryptocurrencies for illicit purposes has been a concern for regulators, there is no evidence to suggest that Milady or its LADYS coin is being used for anything illegal.
Additionally, the idea that wallets holding a particular cryptocurrency would be targeted for sanctions is unusual.Despite the concerning rumor that wallets holding Milady coins may be placed on the OFAC blacklist, the cryptocurrency continues to experience a powerful uptrend and post significant gains.Milady’s LADYS coin has surged by over 71.5% within the last 24 hours.Despite the rumors, this remarkable growth indicates that investors and traders still show confidence in the cryptocurrency.Will LADYS Coin Follow The Footsteps Of DOGE And SHIBA INU For 100x Growth? In the world of cryptocurrency, the rise of meme-based coins has been nothing short of phenomenal.Coins like DOGE and SHIBA INU have skyrocketed in value, delivering massive returns to early investors.
Some wonder whether Milady’s LADYS coin could be the next big thing in the meme coin world.According to Crypto Koryo, a popular cryptocurrency analyst, Milady’s LADYS coin has followed the same formula as other successful meme coins.
The project’s Twitter and Telegram accounts were created on May 6th, and just two days later, the LADYS token went live.On the same day, the project posted its first tweet.However, what caught Crypto Koryo’s attention was that Milady’s team quickly reached out to several big influencers on Twitter.These influencers, including GevCrypto, AlmiraCrypto, and GiveAwayHost, have a combined following of over 2 million people.
While these followers may be fake or bought, they are still enough to give Milady’s LADYS coin visibility and exposure to a large audience.The success of meme coins like DOGE and SHIBA INU has shown that social media hype and speculation can drive massive price increases quickly.However, as Crypto Koryo points out, the future of Milady’s LADYS coin is far from certain.While the coin has grown significantly, it could just as easily crash and burn depending on various factors.
Compared to its nearest competitor PEPE coin, LADYS coin is currently leading the meme coin frenzy.While Milady’s LADYS has experienced significant growth, PEPE coin has suffered a decline of over 28% since yesterday.
Featured image from Unsplash, chart from TradingView.com Leave a Reply [Cancel reply](/crypto-2/crypto-nightmare-ofac-to-allegedly-place-milady-wallet-owners-on-blacklist/#respond) Leave a Reply Bitcoin price is moving lower below the $28,000 level.BTC is at risk of a downside break toward the $25,000 support in the near term.- Bitcoin struggled to recover above the $27,500 and $27,800 resistance levels.- The price is trading below $27,500 and the 100 hourly Simple moving average.- There are two bearish trend lines forming with resistance near $27,000 and $27,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).- The pair could continue to move down if it breaks the $26,750 support zone.
Bitcoin Price Extends Decline Bitcoin price failed to start a recovery wave above the $27,800 level.BTC remained in a bearish zone and settled below the $27,500 support zone.The bears were able to push the price below the $27,000 level.A low is formed near $26,720 and the price is now showing a lot of bearish signs.
It is still trading below $27,500 and the 100 hourly Simple moving average.There are also two bearish trend lines forming with resistance near $27,000 and $27,800 on the hourly chart of the BTC/USD pair.Bitcoin price is likely to face sellers near the $27,000 level or the 23.6% Fib retracement level recent drop from the $28,335 swing high to the $26,720 low.The next major resistance is near the $27,350 level.
The main resistance is now forming near the next trend line and $27,800.It is close to the 50% Fib retracement level recent drop from the $28,335 swing high to the $26,720 low.Source: BTCUSD on TradingView.com A close above the $27,800 resistance and the 100 hourly Simple moving average might start a decent increase.The next key resistance is near $28,000, above which the price might climb toward the $28,500 resistance.More Losses in BTC? If Bitcoin’s price fails to clear the $27,500 resistance, it could continue to move down.
Immediate support on the downside is near the $26,750 level.The next major support is near the $26,500 zone, below which the price might gain bearish momentum.In the stated case, it could revisit the $26,000 level.Any more losses might take Bitcoin toward the $25,000 level in the near term.Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone.Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.Major Support Levels – $26,750, followed by $26,000.
Major Resistance Levels – $27,000, $27,350, and $27,800.Bitcoin (BTC) and the U.S.Dollar Index (DXY) have been battling for supremacy in the financial world, with both assets vying for dominance in a zero-sum game.The recent volatility seen in the markets is a testament to the intensity of this battle.It is becoming increasingly clear that the outcome of this showdown will have significant implications for both assets and the financial world.How Bitcoin Plans To Take On The Dollar According to JJ the Janitor, an analyst at Jarvis Labs, any decline in the dollar’s value is good for Bitcoin, and vice versa.This means that the two assets are competing for the same market share, and whichever one comes out on top will dictate the market’s direction for the rest of 2023.
As JJ the Janitor notes, DXY has held above the crucial line of support at 100.80 since April 15.This has created market tension, as BTC and DXY have been consolidating in tightly compressed ranges.
However, this month-long structure will break sooner or later, and both assets will enter into price discovery – one to the upside, the other to the downside.One notable thing about DXY, according to JJ the Janitor, is that since it peaked during March’s banking crisis, it has been unable to sustain any technical momentum.As a result, it has now registered six lower highs since March’s peak of 105.90, a strong confirmation that it is indeed stuck in a downtrend.For JJ, if the dollar’s yearly low fails to hold upon retest, and if that failure sends DXY crashing below 100 without relief, it would create an ideal set-up for Bitcoin to make a series of higher highs this summer.This would be good news for BTC investors, who have eagerly anticipated a market breakout.
Furthermore, The market structure of the DXY is beginning to resemble a pattern that Bitcoin displayed in the spring of 2022, according to JJ the Janitor.Moreover, JJ compared the current market structure of DXY to a chart pattern that BTC displayed last spring, which ultimately led to a collapse in the market.BTC Faces Risk Of Collapse Similar To Last Year’s Death Spiral? As JJ notes, just after the death spiral of LUNA and UST last year, Bitcoin appeared to be holding up surprisingly well while altcoins were collapsing.However, this resilience was short-lived, as BTC ultimately succumbed to a “head and shoulders” chart pattern and collapsed after the death spiral of LUNA caused CeFi exchanges like Celsius and BlockFi to go under.As seen above, DXY shows a similar head and shoulders pattern below resistance, which could signal a potentially disastrous outcome for the asset.
This pattern is a bearish technical indicator that suggests a potential reversal of the current trend.
However, there is a scenario in which the dollar could regain strength and spoil Bitcoin’s hope for new highs this summer.JJ the Janitor, suggests that if DXY were to move above the May high at 102.53 and then reconquer its 50-day and 100-day moving averages, it would be a clear signal for the market to go “risk-off.” This would be a sign of strength for the dollar and could result in Bitcoin crashing into another retest of its 200-day moving average.
At the time of writing, the price of Bitcoin is hovering around $27,100, just below its 50-day moving average, indicating a notable decline of over 3.5% in the past 24 hours.The cryptocurrency’s market volatility has increased liquidations of both short and long positions, with Coinglass data indicating a peak of $174 million in the last 24 hours.
Featured image from iStock, chart from TradingView.com Bitcoin price is struggling to clear the $28,200 resistance.BTC is again moving lower and might decline toward the $27,000 support zone.- Bitcoin attempted an upside break above $28,200 but failed.- The price is trading below $28,000 and the 100 hourly Simple moving average.- There is a connecting bearish trend line forming with resistance near $28,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
– The pair could continue to move down if stays below $28,000 and $28,200.Bitcoin Price Faces Rejection Bitcoin price started a recovery wave above the $27,800 level.BTC cleared the $28,000 resistance zone and spiked above the 100 hourly Simple moving average.
However, the bears were active above the $28,200 resistance.A high was formed near $28,334 and the price tumbled to $27,000.A low is formed near $26,792 and the price is now consolidating.It is trading near the 50% Fib retracement level recent decline from the $28,334 swing high to the $26,792 low.Bitcoin is trading below $28,000 and the 100 hourly Simple moving average.There is also a connecting bearish trend line forming with resistance near $28,000 on the hourly chart of the BTC/USD pair.Immediate resistance is near the $27,750 level.The next major resistance is near the $28,000 level or the trend line.
It is close to the 76.4% Fib retracement level recent decline from the $28,334 swing high to the $26,792 low.The main resistance is now forming near the $28,200 level and the 100 hourly Simple moving average.Source: BTCUSD on TradingView.com A close above the $28,200 resistance might start a decent increase.The next key resistance is near $28,500, above which the price might climb toward the $29,200 resistance.Any more gains could open the doors for a decent move toward the $29,500 resistance.Fresh Decline in BTC? If Bitcoin’s price fails to clear the $28,000 resistance, it could continue to move down.Immediate support on the downside is near the $27,200 level.The next major support is near the $27,000 zone, below which the price might move further into a bearish zone.
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