Locked in a cage… for tokens

🔒 Locked in a cage… for tokens?

Plus: Rumble joins the Bitcoin treasury movement

GM. Welcome to the Daily Squeeze - where we're cracking open the juiciest blockchain coconuts and spilling the good stuff straight into your feed.

🎥 Pump.fun hit pause on its livestream feature.

🍊 News drops: Peanut the Squirrel and Fred the Raccoon owner launches a new token, Justin Sun invests $30M in WLFI, + more

🍍 Market flavor today

Find out more about the Fear & Greed Index here.

Name		Price	24H	7D
Crypto Market Cap: $3.26T -5.4% (24H)
	Bitcoin BTC	$92,701.35	-5.70%	1.12%
	Ethereum ETH	$3,339.43	-4.58%	6.62%
	Solana SOL	$228.84	-9.80%	-6.87%
	BNB BNB	$622.40	-6.20%	1.02%

Prices as of 6:45 AM EST. Live data is available here.

Everyone's waiting for the big moment, but crypto decided to hit 'snooze' (just like me fr) ⏰ The Fear and Greed Index dipped slightly to 79, but investors are still feeling greedy. Bitcoin briefly slipped below $93K today.

A trader known as Skew pointed out that the $92K-$92.5K area is crucial for the bulls. If BTC stays above it, demand could pick up and even give altcoins a boost. But if it drops below, we might see a broader market sell-off.

That said, don't sweat it - the short-term goal of hitting $100K per BTC is still very much on 🎯 According to MAC_D on CryptoQuant, a correction of up to 10% from the peak is just part of the natural rhythm.

The analyst noted that the big-picture metrics still flash bullish signals, so the real focus is now on the Short-Term SOPR - a metric tracking whether short-term holders sell at a profit (>1) or loss (<1). Historically, when these holders sell at a loss, rebounds often follow.

Right now, the SOPR is above 1, meaning some investors took profits. But if the correction deepens and losses start piling up, it might just be the buying opportunity we've been waiting for.

So yeah, although BTC's still snoozing, that wake-up call is just around the corner. But whether it's about to run past $100K like it's a morning jog or stumble down like it needs coffee to survive - it's anyone's guess 🌅

💊 Pump.but-is-it-really-that-fun?

You know when you're chillin' with your gang, cracking jokes, and there's always that one friend who just has to take it way too far? It goes something like:

"Haha, remember that time when you spilled coffee on yourself in front of your crush? Dork 😃"

"Yeah, 'twas funny. Remember that you have type 2 diabetes and could actually have a heart attack any second now? 😄”

If you've been scrolling through Crypto Twitter these days, you've probably noticed that memecoins have stepped into that too far territory.

Even ex-Binance CEO Changpeng Zhao is judging: "I am not against memes, but memecoins are getting 'a little' weird now. Let's build real applications using blockchain."

And I totally get where he's coming from. Crypto started out with all these big, noble goals - decentralization, transparency, yada yada. Now, we're out here with tokens like Gyattatouille (that's Remy from Ratatouille but… thicc). Yeah, idk either.

So, what's the tea?

Back in May, the Solana-based memecoin playground pump.fun launched a new feature - live streaming. Let's just say people got very creative with it, but not in a good way. Ever since launch, reports have been pouring in about livestreams that Jesus definitely wouldn't co-sign.

And this weekend, the situation hit a whole new level of insanity. One dude locked himself in a cage, barking like a dog until enough people bought his coin. Another said he wouldn't leave the toilet until his token hit a $50M market cap. And then there were the really dark ones - threatening violence and other wild stuff if their tokens weren’t purchased enough.

Some users commented that this might just be the reminder we needed of why censorship exists on the internet.

Source: @boldleonidas

The thing is, pump.fun isn't exactly new to testing the limits - offensive and NSFW tokens have been a thing over there for a while. Basically, the bar was low to begin with, but the livestreams somehow managed to trip over even that.

Responding to all the backlash, pump.fun co-founder Alon said they're all for free speech, but even he was like, "Yeah, no, this is too much." So now, they've shut down the livestream feature entirely.

Moral of the story: sometimes that one friend just needs the good ol' "Bro, chill." 'Cause it's all fun and games until the group chat starts feeling like you might actually need to consider therapy.

🍋 News drops

🐿 Mark Longo, the owner of internet icons Peanut the Squirrel and Fred the Raccoon (RIP), is dropping his own crypto token. That's the same dude who called out the crypto community for "profiting off his tragedy" - while allegedly pocketing $50K in donations himself. Irony's really out here doing overtime.

🤑 Justin Sun dropped $30M on Donald Trump's family crypto project, World Liberty Financial. His buyout wrapped up the WLFI token sale, shoving the project past its $30M goal.

🤝 Babylon Labs and Lombard Protocol are teaming up to bring liquid Bitcoin staking to Sui. If you're holding Bitcoin and dabbling in the Sui ecosystem, you'll now be able to stake your BTC via Babylon and mint LBTC - a liquid staking token.

🚂 YouTube rival Rumble is jumping on the Bitcoin Treasury train. They're setting aside up to $20M of their extra cash for BTC. Pretty sure Michael Saylor's out there somewhere, wiping a tear like a proud dad.

🚀 Avalanche launched its biggest upgrade yet - Avalanche9000 - on the testnet yesterday. The goal? Cut costs for everything from sending transactions to running validators and building apps.