⚡️ You’ve been waiting, fiercely spamming likes on the post about #GME, and finally, here it is!

Today you will learn about the hype around #GameStop and how the little guys knocked down Wall Street a few pegs and created the first economic flash mob in history 🐹

Let’s start from the beginning. In 2021, GameStop was engaged in retail sales of discs, consoles, and other gaming stuff. Since 2015, it had started to experience difficulties with its existing business model, which is understandable given that digital distribution of games had been putting pressure on physical media and offline retail for several years. Furthermore, amid the pandemic, the company's shares fell to a historic low of $4.5 each

It's not hard to guess that with such results and economic prospects, GameStop became an excellent target for short-sellers from major funds

Everything would have been fine, but the situation GameStop was in caught the attention of Reddit traders, who saw an injustice in the fact that the "big guys" on Wall Street were profiting from a dying company. Without much hesitation, the guys from Reddit decided to teach the boomers a lesson 🤷‍♂️

The "mom's basement traders" from the subreddit r/wallstreetbets started buying up options on GameStop shares under the slogans "Save gamers' honor" and "Punish the hedge fund piranhas." And the more options that were bought, the more the stock price rose. The losses of the hedge funds that bet on the decline exceeded $5 billion, and many had to attract borrowed funds to stabilize. In short, poor Norwegian pensioners were unlucky once again

The situation worsened when the meme lord himself, Elon Musk, joined the party. With his tweet, he doubled the price of GameStop shares, and apparently, it was then that he realized that Twitter could be used not only for jokes about trampolines.

Stay tuned for more tomorrow, and in the meantime, send this post to your friend who also doesn't understand what #GME is and why the revived Twitter guy in the red bandana is pumping #memecoins

🐹 How the Little Guys knocked down Wall Street. Part 2

Reddit was jubilant — in late January 2021, the price of one share of the gaming retailer was around $360, which, given the $4 per share price in January 2020, signified a 9000% increase over a year 🤯

The r/wallstreetbets community grew to 8 million subscribers and was celebrating victory, when suddenly...

At the height of the battle between Redditors and the moldy funds, the popular private trading service #Robinhood blocked the ability to buy #GameStop shares. The problem was that Robinhood was the main platform for investing in GameStop because it positioned itself as a free service for ordinary people. However, it turned out that Robinhood's real earnings were not from transaction fees but from selling data about its users' behavior to large brokers and traders. So, as soon as the flash mob with the stock pump got out of hand, Robinhood decided to protect its real clients and shut down the party.

And now we smoothly transition from the stock market confrontation to the cryptocurrency market. After the events with GameStop, the same Robinhood stopped trading #Dogecoin when the meme cryptocurrency just started getting pumped. It was with the support of the crypto flash mob by the admin of the r/wallstreetbets community that Doge's value soared by 1000% in a day.

That admin was Jamie Rogozinski (not to be confused with Rogozin). Yes, the same legendary "revolutionary" who earned $48 million from the GameStop pump, and whose Twitter recently came back to life, causing a stir in the entire community.

Now you know a little more, give a like for the effort and send this material to your friends so they can know a little more too 😉

#Analysis #Bitcoin

🪙 The #BTC/#USDT price continues to consolidate near its all-time highs. Over the past week, the market received positive fundamental news regarding new #ETF instruments (this time for #Ethereum), which prompted traders to buy more actively.

As a result, since the beginning of May, the BTC price has been in a short-term upward trend after testing the lower boundary of the range.

📈 The range itself is formed between the support zone of 57 000 - 60 900 and the zone of resistance of 72 000 - 74 000. Recently, the #BTC price tested the first strong resistance level at 72 000. If buyer activity remains strong, a potential scenario to consider is the resumption of the bullish trend and further updating of highs with targets at the 80 000 level.

📉 An alternative scenario is possible if buying pressure is insufficient to break through the 72 000 - 74 000 resistance zone. In this case, it is likely that consolidation will continue, followed by a pullback to the lower boundary of this consolidation and a test of the support zone within the 57 000 - 60 900 range.

this is not a trading recommendation

⚠️ The Fear and Greed Index is at a historic high

Currently, it stands at 75

The index ranges from 0 (extreme fear) to 100 (extreme greed) and reflects the sentiment in the cryptocurrency market. A low value signals overselling, while a high value warns of a potential market correction.

#CryptoNews

🌍 Weekly #CryptoDigest of News:

🪙 27.05 BTC.D (Bitcoin Dominance over Altcoins) - 53.93%
Bitcoin's dominance in the market remains above 50%, but it has decreased by 3% compared to last week. There is already a noticeable shift of funds from BTC to other assets.

🇺🇸 28.05/20:05 USD - Speech by Fed Governor Cook

🇺🇸 30.05/15:30 USD - GDP (Q1)
Forecast 1.3%

🇺🇸 30.05/15:30 USD - Initial Jobless Claims

#Analysis #Bitcoin

🪙 #BTC started moving towards its ATH with positive sentiment, but selling began at the first resistance level of 70 665.

📉 There is a trend level that also serves as a support level at the price of 67 380. If 67 380 is breached, the price may drop to 64 602, with short-term targets being 66 312 and 65 857.

📈 Optimistic sentiment may return to the market after the liquidation of long positions, which will occur if the support level at 64 602 is breached.

this is not a trading recommendation

🐶 A #ShibaInu holder earned over $1 million by holding the meme coin for more than three years

On January 31, 2021, he bought 48 billion #SHIB for $2700 on #Uniswap. Yesterday, the trader sold all the coins for $1.24 million.

The investment growth amounted to 47 592% 🚀

#TraderStories

🪙 Whale #Bitcoin addresses are currently at their highest activity level in the history of #BTC.

#CryptoNews

🖼 The US Treasury has recommended that regulators develop rules for #NFT

In a new report, the government body criticized non-fungible tokens, stating that the sector is at risk of fraud and facilitates money laundering. Among the common schemes mentioned were fake sales and #rugpull.

Let's congratulate the US Treasury in the comments for their timely measures regarding NFTs 👏

#CryptoNews

#Opinion

🔷 The approval of spot #ETF on #ETH was a political decision

According to ARK Invest CEO Cathie Wood, the cryptocurrency issue became part of the Biden administration's agenda after Trump began using cryptocurrencies in his election campaign. Before this, none of the companies vying for ETF approval anticipated it, and the SEC was not engaging in dialogue with any of them 🤔

Meanwhile, experts expect an #Ethereum-ETF by the end of June.

🔷 #Ethereum became popular thanks to its smart contract platform, but the first idea of "programmable money" emerged as early as 1994.

The cryptographer Nick Szabo was the first to propose a similar concept. However, he couldn't bring his idea to life because the technology at that time didn't allow for the implementation of smart contracts.

#FactOfTheDay

📌 Trump #memecoin’s (yes, there are several 🫠) showed significant volatility yesterday

This happened against the backdrop of Trump being found guilty on 34 counts related to document falsification. The leader in growth was the new token #FreeTrump, which showed a +750% increase.

#CryptoNews

🤔 What do a memorial and a memorandum have in common? That's right—they both contain "mem" (yes, literally)

With this longread, we open the series of essays "Zoomer's Dictionary," which aims to explain some features of modern trendy terms and linguistic constructions. And we will start with the most interesting one for the cryptocurrency industry—memes.

The word "meme" comes from the Greek "mimema," meaning "imitated." Richard Dawkins introduced this term in his book "The Selfish Gene" to describe how ideas spread and evolve in human society. Memes often have a humorous nature, which is their main strength because it makes them highly understandable and allows for the easy transmission of multi-layered context. For example, the meme abbreviation "POV" (Point of View) immediately indicates that the conveyed message is about a lifestyle that the author tries on to describe a particular life situation: "pov: you’re a novice trader" 💸

Memes have tightly integrated into digital communication and can not only entertain with funny pictures but also significantly influence public opinion, politics, and even finance, as we observe with the rise of #memecoins. Like a virus, a simple and precise meme instantly captures the minds of millions, evoking a strong emotional response. If the stated philosophy of a project, framed in a simple "meme-message," resonates with many people, they vote for such a project with their money, allowing it to grow in value. Tokens like #GME and #FreeTrump have shown growth not because of any special technological value, as is often the case with other cryptocurrency projects, but solely because a large number of people shared the stance promoted by these memecoins.

In the second part of the material, we will talk about Dogecoin and Shiba Inu—stay tuned for tomorrow 🐶