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Is PUNCH token the new Moo Deng?

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Is PUNCH token the new Moo Deng?

A macaque monkey called Punch that’s emotionally attached to his IKEA plushie has spurred on a memecoin run reminiscent of Moo Deng’s fame after he was bullied by the rest of its housemates at a Japanese zoo.

The Punch token (PUNCH) was launched on February 6 as memes and stories around the monkey began to circulate. 

Punch was born at the Ichikawa City Zoo, where he was rejected by his mother during a heat wave and raised by the zoo staff. He was reintroduced to his group of monkeys but has struggled to become accepted ever since. 

Punch is reportedly slowly starting to make new friends and move on from his surrogate stuffed animal.

The little guy has been chased and harassed by the other monkeys, but what’s caught everyone’s attention is the comfort he’s found with an IKEA monkey plushie. 

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This virality has led to PUNCH’s trading volume rising to $46 million and the price of the token shooting up 12,777% across the week to $0.031.

A lot of memecoin traders have felt that there hasn’t been a good “runner” in some time. This is a type of token that gains significant attention and increases in price. 

Read more: Paul brothers business partner claims ‘0% rug pull risk’ with new memecoin

When a penguin from Werner Herzog’s 2007 documentary “Encounters at the End of the World” became viral earlier this year, a token themed around that penguin attracted $500 million in trading volume and hit a market cap high of $153 million.

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Another successful runner similar to Punch was the launch of the Moo Deng token back in 2024, a token based on a viral baby hippo that was filmed biting its carers. The Moo Deng token reached a market cap of over $600 million. 

Both tokens, however, are down over 90% since their all-time highs, like most memecoins. 

This is Moo Deng recently at the Khao Kheow zoo in Thailand.

PUNCH token shows signs of market manipulation

Popular crypto trader The White Whale issued a warning about the Punch token, suggesting that it’s showing signs of “market manipulation” and that the sheer volume of liquidity the token attracted suggests that it’s not organic.

They said, “The project and project dev is most likely not behind the things I’m warning about here. The project may or may not be a good project. But this is cabal action. Plain and simple.”

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It’s not just crypto traders who have jumped on the monetary potential of a viral monkey, as users have already suggested buying up the plushie monkey from their local IKEAs and selling them on at an inflated price. 

Read more: What are TikTok coins?

Scalpers or not, IKEA has recorded an increase in sales of the plushie thanks to Punch’s fame. 

The zoo itself is also experiencing a surge of visitors who have come just to see Punch the monkey.

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Punch has even caught the eyes of Justin Sun, the billionaire founder of Tron, who donated $100,000 to the zoo housing Punch via his exchange HTX.  

Got a tip? Send us an email securely via Protos Leaks. For more informed news and investigations, follow us on XBluesky, and Google News, or subscribe to our YouTube channel.

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XRP price risks $1.30 breakdown amid thinning liquidity

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XRP price outlook: Thinning order books raise risk of breakdown below  $1.30 support - 1

XRP price is hovering near $1.42 as thinning liquidity and repeated tests of the $1.30 support level raise the risk of a breakdown.

Summary

  • XRP is down 25% in 30 days and remains below major resistance.
  • On-chain data shows declining USD and XRP liquidity, increasing fragility.
  • $1.30 is the critical support level to watch.

XRP traded at $1.42 at press time, down 0.7% in the last 24 hours. Over the past week, price has ranged between $1.35 and $1.64, with sellers capping rebounds near the upper end of that band.

The recent correction has been sharp. After a 25% decline over the last 30 days, XRP (XRP) is now 61% below its July 2025 peak of $3.65. As lower highs continue to form on the daily chart, the overall structure remains weak.

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In derivatives markets, positioning is relatively stable. CoinGlass data shows futures volume up 0.96% to $3.75 billion, while open interest slipped 0.43% to $2.36 billion. That mix suggests traders are active but not aggressively increasing leverage.

Liquidity compression adds fragility

A Feb. 20 analysis by CryptoQuant contributor The Alchemist 9 reviewed three indicators: Binance exchange inflows, USD liquidity (MAG-XRP), and XRP liquidity (MAG-XRP).

During a previous rally phase, exchange inflows spiked sharply. Large inflows usually mean tokens are moving onto exchanges, which can signal potential sell pressure. In that instance, the spike occurred before a period of strong volatility and a major price expansion.

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USD liquidity measures the capital depth supporting XRP markets. When XRP rallied, USD liquidity expanded and helped sustain the move. Recently, liquidity has been declining. With less capital depth in the order book, the price becomes more sensitive to sudden selling.

XRP liquidity tracks token-side availability. Before the earlier breakout, XRP liquidity compressed significantly. That reduction in active supply aligned with the start of the upward move. Now, XRP liquidity is trending lower again, resembling those earlier pre-expansion conditions.

At present, exchange inflows are moderate, but both USD and XRP liquidity are contracting. This creates a thinner market structure. In thin conditions, breaks of support or resistance often trigger sharper moves.

These metrics do not predict direction on their own, but they highlight rising volatility risk.

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XRP price technical analysis

The $1.30 level is the key short-term support. It marks the lower boundary of recent consolidation. Price has repeatedly tested this range.

While rebounds followed, repeated touches often weaken demand. A daily close below $1.30 may lead to accelerated selling in a thin market.

XRP price outlook: Thinning order books raise risk of breakdown below  $1.30 support - 1
XRP daily chart. Credit: crypto.news

Lower highs are still visible in the daily structure. The 50-day moving average serves as trend resistance, and XRP is trading below it. Bollinger Bands are tightening, showing price compression. This often precedes a strong move once support or resistance breaks.

The relative strength index is hovering between 35 and 45, reflecting limited bullish momentum. With attempts to push above 50 having failed, there is no clear bullish divergence at this stage.

If $1.30 holds and price reclaims $1.40 to $1.45, momentum could improve, opening room toward $1.50 to $1.60. If $1.30 breaks on a daily close, the next downside targets sit near $1.20 to $1.25, followed by $1.10 to $1.15 if selling pressure intensifies.

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Polymarket acquires prediction market API startup Dome

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Polymarket acquires prediction market API startup Dome

Polymarket has acquired Dome, a Y Combinator-backed startup that is building a unified API solution for developers to access and build across multiple prediction market platforms.

Summary

  • Polymarket has acquired Y Combinator-backed startup Dome.
  • Dome offers a unified API for cross-platform prediction market access.
  • It has raised $500,000 from Y Combinator and $4.7 million in seed funding.

The acquisition was confirmed by both companies in a Feb. 19 post on X, though neither side shared details about Dome’s future roadmap within Polymarket or how the team will be integrated. The financial terms of the deal were not disclosed.

According to details from Y Combinator, Dome was part of its Fall 2025 cohort and is developing a unified API for prediction markets through a single integration layer, where “developers can access live and historical data.”

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“Dome makes it simple to trade, embed market data into products, and deploy strategies across multiple platforms through one interface,” it said.

Dome raised $500,000 from Y Combinator and secured a further $4.7 million in seed funding, according to details shared on the X profile of co-founder Kunal Roy, who, alongside Kurush Dubash, previously served as founding engineers at Alchemy.

“We’re obsessed with prediction markets and want to have the biggest impact in the space. There’s no better place to do that than Polymarket.” Dubash wrote on X.

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Besides QCEX, a derivatives exchange and clearinghouse licensed by the U.S. Commodity Futures Trading Commission, which Polymarket acquired in a bid to re-enter the country, Dome marks the company’s first official acquisition focused on developer infrastructure.

Since it was greenlighted by the commission to operate an intermediated trading platform, Polymarket has secured multiple major partnerships with media brands like Yahoo Finance and Google Finance, alongside sports organizations such as Major League Soccer and the National Hockey League.

Last month, the company partnered with Parcl to launch a prediction market tied to real estate trends. It has also expanded onto the Solana blockchain through an integration with Jupiter and was recently added to the MetaMask mobile app, widening its retail distribution.

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Bitcoin May See Upside After AI Stocks Become ‘Silly Big’

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Cryptocurrencies, Bitcoin Price, AI

Bitcoin’s next major leg up could hinge on artificial intelligence stocks becoming excessively overvalued in the eyes of investors, according to macroeconomist Lyn Alden.

“It could be that the AI stocks eventually just peak, they get so silly big that they can’t get realistically much higher,” Alden told Natalie Brunell on the Coin Stories podcast published to YouTube on Thursday.

When an asset’s price rises to a level where further gains are harder to justify, capital often moves into other opportunities with more potential upside.

Cryptocurrencies, Bitcoin Price, AI
Lyn Alden spoke to Natalie Brunell on the Coin Stories podcast. Source: Natalie Brunell/YouTube

With Bitcoin (BTC) down almost 46% from its October all-time high of $126,100, Alden suggests it could be a beneficiary of that rotation.

Nvidia may be the “most important stock” in US, says exec

Some financial analysts are questioning whether the largest AI stocks will keep up their momentum in 2026. Albion Financial Group chief investment officer Jason Ware recently told Fox Business that he expects GPU chipmaker Nvidia (NVDA), the largest company on the Nasdaq stock exchange by market capitalization, to have “another great quarter,” but asked whether it will “be good enough.”

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“We all know they are the most concentrated, obvious winner in the AI build out. Can that growth continue in a way that supports the stock moving higher?”

Nvidia’s (NVDA) stock price is up 35.48% over the past 12 months, according to Google Finance, and Ware said that it is “probably the most important company and most important stock in America in the market.” 

The rise of investor interest in AI means that Bitcoin is now “competing for capital” in a way it never has before, Bitcoin developer Mark Carallo said on Thursday.

Bitcoin only needs a “marginal amount” of new demand

However, Alden said Bitcoin wouldn’t need a significant wave of capital to move higher. “It only takes a marginal amount of new demand to come in,” Alden said, adding that long-term holders essentially “put the floor in” as short-term traders rotate out.