The crypto majority has flipped their moods from bullish to bearish in an alarming fashion these past 2 weeks. As market caps have corrected (particularly altcoins), there is far less interest in meme coins and far more interest back on Bitcoin. This crowd FUD is a healthy part of the cycle, and one that patient traders can capitalize on with this high level of 'blood in the streets'.

📈 Network growth is high amongst several altcoins right now. Notably, keep an eye on XRP Ledger, Shiba Inu, and Band. On Sunday alone, we saw...

📌 XRP: 22,357 New Wallets
📌 SHIB: 7,548 New Wallets
📌 BAND: 35 New Wallets

All of these network growth spikes, relatively much higher than each project's normal rate, indicate a high level of crowd engagement, mixed with a fair bit of euphoria. In the short term, prices may be volatile due to increased retail engagement. However, long-term, it is a promising sign to see rising levels of utility on any asset's blockchain. 👍

📈 Bitcoin has jumped back above $70K prior to US election results coming in later today. Several memecoins and AI/Big Data altcoins like DOGE, SHIB, FET, BONK, & POP, are also spiking. The S&P 500 is also up big as well, which is a strong sign of later November growth.

🐶🤕 Meme coins like Dogecoin (+12%) and Bonk (+13%) have been major stories Wednesday, with spikes in prices across the sector. Speculative assets continue churning as Bitcoin profits get redistributed. Altcoins can continue to grow as long as crowd FOMO doesn't get in the way.

🐳 Among cryptocurrencies with at least a $2B in market cap, these are the projects seeing the highest rises in whale activity compared to the week prior:

1) Injective $INJ 🥇 +456% Rise
2) Wrapped Bitcoin $WBTC 🥈 +421% Rise
3) Shiba Inu $SHIB 🥉 +360% Rise
4) Multi Collateral Dai $DAI +147% Rise
5) Pepe $PEPE +109% Rise
6) Tether $USDT +74% Rise
7) Ethena Labs $USDe +67% Rise
8) Dogecoin $DOGE +67% Rise
9) Wrapped Ethereum $weETH +62% Rise
10) Optimism $OP +59% Rise

🗣️ Altcoin euphoria continues with crypto ending its week with speculative large caps seeing major rises in discussion rates. The top trending projects driving markets are:

🪙 Toncoin $TON - Association with the cryptocurrency The Open Network (TON) in the context of the Hamster Kombat airdrop.

🪙 Shiba Inu $SHIB - Discussions around its cryptocurrency and associated projects like Shibarium. The community is optimistic about a 33,000% increase in the burn rate, contributing to a 23% price rise recently.

🪙 Pepe $PEPE - Users are debating its potential for a bull run, comparing it to other memecoins like Shiba Inu. There is a sentiment that 'pepe' has not yet experienced significant growth, but many believe it could perform well in upcoming market cycles.

😺📈 Shiba Inu has surged +43% in the past 9 days with on-chain activity notably surging compared to altcoin alternatives and other meme coins. In addition to volume, circulation, and whale transactions spiking to 10-week highs, social dominance is up as well. This indicates that FOMO toward SHIB is significant right now, and the likelihood of a local top is increased.

In order for the #13 ranked market cap to surpass its $0.000043 year-high made back in February, traders should wait for the high bullish narratives to calm down slightly.

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