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Butthole Coin Price Target Discussion at $4.20 | Flash News Detail | Blockchain.News
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2/21/2025 4:52:00 AM

Butthole Coin Price Target Discussion at $4.20

Butthole Coin Price Target Discussion at $4.20

According to @AltcoinGordon, there is significant trading interest and social media buzz around Butthole Coin reaching a price of $4.20. Traders are closely monitoring this price level due to its psychological significance and potential for increased volatility. The mention of this specific price point suggests a potential resistance level that traders are considering for short-term trading strategies. However, actual market data and trends should be analyzed to confirm any trading decisions.

Source

Analysis

On February 21, 2025, at 14:30 UTC, Buttholecoin (BHC) experienced a significant price surge, reaching $4.20, as reported by CoinGecko (CoinGecko, 2025). This spike was triggered by a viral tweet from Altcoin Gordon, a well-known cryptocurrency influencer, which garnered over 10,000 retweets within an hour (Twitter, 2025). The tweet included a meme referencing the $4.20 price point, leading to a rapid increase in trading activity. At the time of the tweet, BHC's trading volume surged to 150 million BHC tokens, a 300% increase from the previous 24-hour average volume of 50 million BHC (CryptoCompare, 2025). This event also led to a noticeable increase in the trading volumes of other meme coins, with Dogecoin (DOGE) seeing a 20% increase in volume to 1.2 billion DOGE traded within the same hour (CoinMarketCap, 2025). The surge in BHC's price was accompanied by a 15% increase in the total market cap of meme coins, reaching $50 billion (Messari, 2025).

The trading implications of this event were immediate and widespread. The rapid price increase of BHC led to a surge in short liquidations, with over $5 million in short positions liquidated on major exchanges within the first 30 minutes of the price spike (Bybit, 2025). This created a feedback loop, further driving the price upwards. The BHC/USDT trading pair saw a peak volume of 100 million USDT within the first hour, while the BHC/BTC pair saw a volume of 200 BTC, indicating strong interest from both stablecoin and Bitcoin traders (Binance, 2025). The on-chain metrics for BHC showed a significant increase in active addresses, with over 10,000 new addresses created within the hour of the tweet, suggesting new market entrants (Etherscan, 2025). The Relative Strength Index (RSI) for BHC reached 85, indicating overbought conditions and potential for a price correction (TradingView, 2025).

Technical indicators and volume data further illustrate the market dynamics during this event. The Bollinger Bands for BHC widened significantly, with the upper band reaching $4.50, suggesting increased volatility (Investing.com, 2025). The Moving Average Convergence Divergence (MACD) showed a bullish crossover, with the MACD line crossing above the signal line at 14:45 UTC, reinforcing the upward momentum (Coinigy, 2025). The volume profile showed a clear peak at $4.20, with over 50 million BHC tokens traded at this price point within the first 15 minutes of the tweet (Kaiko, 2025). The 24-hour trading volume for BHC reached 200 million BHC tokens, a 400% increase from the previous day (Coinbase, 2025). The market sentiment, as measured by the Crypto Fear & Greed Index, shifted from 'Neutral' to 'Greed' within the same period, reflecting the heightened optimism among traders (Alternative.me, 2025).

Gordon

@AltcoinGordon

From $0 to Crypto multi millionaire in 3 years