Mog Coin, VeChain, Michi rise as the focus turns to Solciety

Cryptocurrency prices held quite well during the weekend as a sense of optimism spread in the industry. Bitcoin hovered slightly below $60,000 as the crypto fear and greed index rose to the neutral point of 45. Solciety, on the other hand, has raised over $954k in less than two weeks as the token sale continues.

Top crypto performers

Cryptocurrencies rebounded as the German government concluded moving its coins to exchanges. It is estimated that the government has now sold bitcoins worth over $5 billion. 

Bitcoin’s performance in this period has been relatively steady even as these coins moved into the market. It only crashed to $53,700 earlier this month and has now bounced back and is nearing the key resistance level at $60,000. 

Bitcoin has also reacted to the recent sale of coins from wallets associated with Mt.Gox, a crypto exchange that collapsed in 2014. Also, there have been miner capitulation, which has led to more supply in exchanges. 

Other cryptocurrencies did well during the weekend as Bitcoin rebounded. Mog Coin (MOG) rose by over 7.4% and neared its all-time high of $0.00000213, pushing its market cap to over $642 million. 

VeChain token price also rallied to $0.031, its highest point since June 12th and 55% from its lowest point this year. Michi token rose by over 50% from its lowest point last week.

Cryptocurrency prices also rallied after an assassin shot at Donald Trump during a rally in Pennsylvania. This rally happened as many traders predicted that the shooting incident raised the odds of a Trump victory.

Elon Musk, the richest person on earth, came out in support of Trump. And so did Bill Ackman, the billionaire founder of Pershing Square Holdings. Recent poll numbers have shown that Trump has a high chance of beating Joe Biden if he ultimately decides to run. 

I am going to formally endorse @realDonaldTrump. I came to this decision some time ago as many @X followers have already understood from my supportive posts of Trump and my criticisms of @POTUS Biden.

The reason why I have not yet formally done so is that I want to explain my…

— Bill Ackman (@BillAckman) July 14, 2024

Trump-focused tokens like MAGA, MAGA Hat, and Super Trump (STRUMP) were among the biggest gainers. 

Solciety token sale continues

Meanwhile, Solciety, an upcoming Solana cryptocurrency, continued its token sale as the developers raised over $914k in less than two weeks.

Solciety is a meme coin that aims to be politically neutral, thus attracting all kinds of investors. That’s because many Biden supporters often don’t invest in Trump tokens like MAGA and TRUMP and vice versa.

Solciety also has more unique features that will make it a more successful meme coin. For example, the developers have created the meme maker, a platform that lets any user create memes that they can share on social media. 

Anyone can use the meme maker, create content, share it, and then earn presale coins, which they can redeem after the airdrop. According to Solciety’s white paper, the developers have channeled 3 billion tokens or 30% of the total to the presale. 20% of the rest will go to marketing while the others will move to rewards, developers, partnerships, treasury, amf liquidity. You can buy the Solciety token here.

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