In this article we are going to see what the latest relevant news is for the 3 crypto assets Polkadot (DOT), Compound (COMP) and Pepe (PEPE).
How are these high-capitalization coins moving on the price side and what are the future forecasts?
All the details below.
Summary
Latest crypto news for Polkadot, Compound and Pepe
Let’s start with the most interesting news that has emerged in recent days for these 3 crypto projects.
For Polkadot, there is a lot of news ahead following the “Polkadot Decoded” event on 28-29 June where developments in the ecosystem of applications orbiting the relay chain were discussed.
On the artificial intelligence front, an absolute trend of 2023, of note is the “Origin Trail” initiative that aims to combat misinformation in the crypto world through AI.
Knowledge and information thus become an asset, ready to be used as if it were money in a decentralized context. Potentially very promising!
Regarding Compound, the historic lending protocol of the DeFi world, there are two pieces of news worth talking about.
The first concerns the official unveiling of the “Compound Labs” community website, the official home for developments of the decentralized Compound application.
This expands the family of communities dedicated to contributing positively to the future of decentralized finance.
Another novelty for the Compound protocol concerns the introduction of a mechanism for managing one’s capital in DeFi called “Encumber.”
This allows users to separate the ownership of tokens from the right to transfer them.
Simplified, with Encumber, one will be able to use a smart contract without transferring ownership of one’s assets to an external address, while retaining a whole range of benefits such as governance rights, eligibility for airdrop, and access to ancillary content of a community.
In this case too, like Polkadot, innovations are going strong and are encouraging for a bright future.
Finally on the Pepe front, there is not much to discuss other than the price action of the memecoin, which will be explored in more detail in the next section.
Being a shitcoin with no technological value, there certainly cannot be any interesting updates like those just mentioned for Compound and Polkadot.
If we really want to talk about something, we can mention this tweet with which the PEPE team warns its community of the presence of numerous scams circulating through Twitter, reminding them that there are no ongoing airdrops or official staking platforms.
Never click on suspicious links or connect your wallet to any decentralized application without doing proper checks on its legitimacy.
Be on your guard frogs!
Crypto price analysis and forecasts for Polkadot (DOT), Compound (COMP) and Pepe (PEPE)
Let’s now see how these crypto assets are performing in the market and how they might move in the coming days.
Polkadot (DOT) despite excellent developments in its ecosystem, fails to decisively break the downtrend that has plagued it now since November 2021.
Even after the last price leg up, which started in mid-June, we can see a bearish directionality of the main trend, with the RSI almost reaching the bullish power exhaustion zone.
The main hypothesis for DOT, is that as soon as Bitcoin retraces, it will suffer a major blow to its value. Unfortunately, there is still time to wait before we can see the true power of Polkadot’s blockchain reflected in the market.
The cryptocurrency is currently priced at $5.45 with a capitalization of $7 billion and volume in the last 24 hours hovering around $125 million.
On the other hand, as far as Compound (COMP) is concerned, we can see that in recent days prices have moved in a much more eye-catching manner.
Since Sunday, 25 June, we have seen an acceleration of the asset’s bullish momentum, accompanied by an increase in volumes.
The bad news is that unfortunately such strength is now on the verge of reversing, with the RSI in the overbought zone and the formation on the chart of a pattern typical of a short-term trend change.
The daily candle, should it close in the red, would inevitably result in a return to lower price levels, at least in the $55 area.
The upper shadow clearly indicates to us that traders have tried to take prices above the previous local high, failing miserably in the attempt, which will likely culminate in a retest of the nearest support.
In any case, should prices decisively break $70, we could expect a landing at the $100 psychological zone.
At the moment COMP stands at $63, with a capitalization of $489 million and volume in the last 24 hours of $172 million
Finally, speaking of PEPE, we cannot but recognize the current strength of memecoin, which after a long distributional phase is back on the bullish assault.
Since 20 June, the shitcoin has seen a price increase of 80%, showing that the cryptocurrency is still going strong.
In the short term, the odds play bullishly for PEPE, but as is fair to recommend, there is a need to be careful what happens in the long term.
Short-term speculation is welcome, but making holdings between now and the next few years may be the wrong choice to make in this market.
Disclaimer aside, PEPE’s bullish momentum could continue further, with bullish odds increasing should the crypto cross the $0.000002 threshold.
Also very important is to monitor volume trends: yesterday there was a hint of increased trading activity for PEPE that could continue in the coming days to support bullish hypotheses.
The crypto currently trades at a price of $0.00000175 with a capitalization of $681 million and volume in the last 24 hours of $355 million.
Value investing in the crypto world: the search for technological value will reward in the long run
Although it is not easy to identify an asset that is trading at a price below its intrinsic value, the strategy of investing where one sees potential for a future, known as “value investing,” turns out to be the winning one in the crypto market.
In regulated markets such as equities, doing value investing is relatively “easier” because one has objective data on revenues, turnover, and future projections that can direct one’s considerations.
In the crypto and web3 sector, on the other hand, the issue becomes more complicated as we have to prefer on-chain data on trading volumes, active users of an ecosystem, fees, etc. to traditional financial information.
All of this then has to be related to the context in which the crypto industry finds itself right now, with the exploding trend for layer 2 zk, artificial intelligence crypto assets, and liquid staking protocols.
Each momentum has its own specific interest in this sector, but one should never forget that value investing is geared toward the long term.
That is why rather than Pepe and some other shitcoins that use attractive narratives for neophytes without having created a concrete product, there are projects such as Polkadot and Compound that are to be preferred, which even though they are less competitive now, will be those crypto assets that will most likely survive any apocalyptic scenario in the coming years.
We are not saying to go all in on DOT and COMP, as undoubtedly there are better currencies in terms of adoption and development (just look at simply ETH and MATIC) but that when deciding to build a portfolio for the long term one should not be fooled by speculation and momentary FOMO.
Sometimes making the choice that seems most difficult and penalizing in the short term represents the one that is likely to reward the most in terms of profits between now and the next 10 years.
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