Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. Pump Science Fraud Token Chaos: Decentralized science platform Pump Science suffered a private key leak, allowing an attacker to mint counterfeit tokens, including fake medicines.

2. Altseason Stalled: Altcoins are struggling as CryptoQuant CEO Ki Young Ju stresses the need for new retail capital to boost prices.

3. 📈Technical Analysis Masterclass - Looking to trade a memecoin? Chillguy, a memecoin gaining traction on social media and major exchanges. Watch UseTheBitcoin’s latest Youtube video “Is Chillguy the Next Big Memecoin?” to see its potential risks and rewards or join our Official Telegram Channel for more alpha!

4. 💡Feature of the Day - Inverse Jim Cramer: Bitcoin dipped 2% after CNBC host Jim Cramer suggested cryptocurrencies belong in every portfolio, sparking speculation of the "inverse Cramer" effect.

   
   All this and more in today’s headlines!

📰 News Highlights:

Pump Science Fraud Token Chaos [Source][Source][Source]

Decentralized science platform Pump Science is in crisis after a leaked private key exposed its Pump.fun profile to fraud.

The breach allowed a known attacker to mint counterfeit tokens, including fake medicines like Urolithin B and Cocaine.

Pump Science’s Benji Leibowitz took full responsibility, vowing the mistake will never happen again and halting future token launches until the platform undergoes a complete security audit.

Pump Science has partnered with Blockaid for damage control, flagging fraudulent activity and renaming its compromised profile to deter unsuspecting users.

Altseason Stalled [Source][Source][Source]

Altcoins are stuck in limbo as CryptoQuant CEO Ki Young Ju highlights a critical need for fresh retail capital.

Without new liquidity from individual traders, altcoin prices are unlikely to mirror Bitcoin's meteoric rise.

Institutional investors are largely locked into blue-chip assets like Bitcoin and Ether, leaving smaller-cap altcoins struggling for momentum.

Crypto experts like Willy Woo predict weaker altseasons with each market cycle, as risk-averse investment trends dominate.

 📈Technical Analysis Masterclass:

Is Chillguy the Next Big Memecoin?

Initial Observations

• Popularity Surge: Chillguy is listed on major exchanges like Bybit, drawing attention from traders.

• Test Investment: A small position was taken to explore its potential amid social media hype.

Early Trading Activity

• Limited Data: Trading for only three days, Chillguy’s chart lacks a long-term trend.

• Support Levels: Retraced to key resistance-turned-support areas three times, indicating potential bullish sentiment.

• Cautionary Signs: A red candle on the chart suggests a potential retracement.

Potential Risks

• High Volatility: As a new coin, Chillguy’s price movements are unpredictable.

• Unclear Uptrend: Lack of established price history and technical confirmations increases risk.

• Risk Management: Traders should set a stop-loss below current support to minimize losses if the price drops further.

Changing Crypto Trends

• Shift in Focus: The 2024 market favors quirky, trend-driven coins over projects with strong fundamentals.

• Hype-Driven Value: Chillguy's popularity is fueled by social media, which could lead to short-lived price spikes.

💡 Feature of the Day: 

Inverse Jim Cramer [Source][Source]

Bitcoin fell 2% after Jim Cramer, the often-controversial CNBC host, suggested cryptocurrencies deserve a place in every investor's portfolio.

Known for his "inverse Cramer" effect, where his calls are often counter-indicative, the internet was quick to speculate whether his bullish take signaled a market peak.

Today’s Sponsor:

This week we have partnered with Gemini.

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😂 Crypto Meme of the Day: 

Meme of the day provided by @TheBTCTherapist

And that’s it for this today.

Buy, sell, store, and convert crypto with today’s sponsor Gemini, full-reserve and highly-regulated cryptocurrency exchange and custodian!

See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com