Meme coin Dogecoin seems like it is starting to consolidate just below the $0.4 price level. Particularly, the Dogecoin price has traded below $0.4 in the last five days, reaching a low of $0.343. This DOGE price performance is unsurprisingly going to lead to the notion of whether it has already reached its price top this bull cycle. 

However, not every market participant agrees with this thought process. According to technical analysis from crypto analyst Kevin (@Kev_Capital_TA), the Dogecoin price is currently nowhere near its top this cycle.

Where Is Dogecoin Price Top This Cycle?

The Dogecoin price rally has slowed down since it reached a three-year high of $0.4265 on November 13. However, with the aid of an intriguing technical indicator, Kevin highlighted that the Dogecoin price still has a lot of room to run. His analysis suggests that DOGE’s price top for this cycle could reach $3.9, a level that would effectively quadruple its current all-time highs. 

Kevin’s forecast relies heavily on a unique application of the Pi Cycle tops indicator, a tool traditionally used for Bitcoin but, as he notes, has proven surprisingly accurate in tracking the Dogecoin price behavior every cycle. He explains that the indicator, which combines two moving averages with the Monthly Relative Strength Index (RSI), has accurately predicted the Dogecoin price tops and bottoms over the years. Particularly, the weekly candlestick Dogecoin price chart that accompanied this outlook shows that the Pi Cycle accurately predicted Dogecoin’s cycle tops and bottoms in 2018 and 2021.

The analyst observed that although the moving averages in Dogecoin’s Pi Cycle tops indicator are heading in the same direction, they are still far from crossing. This suggests that Dogecoin has substantial room for upward movement before reaching the anticipated peak.

Dogecoin Price Top At $3.9: What It Means

Kevin’s predicted price top of $3.9 is derived from the 1.618 Fibonacci extension level when projected from this cycle’s Pi Cycle low. This approach mirrors historical Dogecoin price performance, where previous cycle tops in 2018 and 2021 coincided with the same Fibonacci extension level from their respective Pi Cycle lows. The analyst further highlighted intermediate price ranges to monitor, including $0.9 to $1.3 and $2.3 to $2.7, as milestones on the way to the predicted cycle peak.

A $3.9 Dogecoin price would put its market cap around $572 billion, considering its current total circulating supply of 146.86 billion DOGE tokens. Such a huge market cap would see Dogecoin overtaking even Ethereum in market cap rankings, suggesting the latter price doesn’t grow at the same pace as the former.

At the time of writing, Dogecoin is trading at $0.389, up by 3.5% in a 24-hour timeframe and down by 5.2% in a seven-day timeframe. Attaining the $3.9 Dogecoin price target would represent a 902% increase from the current price. 

Featured image created with Dall.E, chart from Tradingview.com

Cardano is once again grabbing central attention as the cryptocurrency seems to be moving toward claiming a new high. ADA is up 5% in the last 24 hours, trading at $0.78, a new price high as Bitcoin breached a new price spot of $94K. Will ADA continue to establish robust price levels along these lines? Let’s find out.

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Cardano Aims For $6: Can It Claim It?

Cardano is once again rising high on the radar. The token currently sits at $0.78, a few points away from claiming the ambitious $1. Investor sentiment towards the token has also accelerated, with investors building anticipation of whether the token can truly claim the coveted $1 price mark in the current bull season.

Cardano’s current price high is the result of the market’s overall bullish momentum. The token has claimed a new high as Bitcoin broke another milestone by surpassing the $93K mark to sit at $94K briefly.

Similarly, CryptoRus, a leading financial platform on X, shared another striking analysis, claiming how Cardano can soon hit a $6 mark if the token continues to leverage the current price momentum and attention.

The platform put up an ADA price chart earlier shared by noteworthy analyst Ali, claiming that if ADA follows a similar pattern that it followed in the last bull cycle, the token can breach the $6 milestone, a truly ambitious trajectory for the token to claim and conquer.

The portal also shared a timeline for ADA to claim the $6 price mark. If ADA continues to leverage the current market momentum, it may claim the aforementioned price level by July–September 2025.

“This chart suggests that if $ADA follows a similar pattern to last cycle, we could see $6 ADA by July-September 2025. This could be a conservative prediction considering Cardano may be working closely with @DOGE soon 👀 Chart: ali_charts.”

This chart suggest that if $ADA follows a similar pattern to last cycle, we could see $6 ADA by July-September 2025

This could be a conservative prediction considering Cardano may be working closely with @DOGE soon 👀

Chart: ali_charts pic.twitter.com/gX0R6Byx26

— CryptosRus (@CryptosR_Us) November 19, 2024

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The Token’s Price Prediction November

Per CoinCodex, ADA is consistently rising high on the radar and may continue to follow the same path this month. Per CC, ADA may sit at $0.90 by the end of this month, rising 18% in the process.

“According to our current Cardano price prediction, the price of Cardano is predicted to rise by 18.21% and reach $0.90224 by December 20, 2024. Per our technical indicators, the current sentiment is bullish while the Fear & Greed Index is showing 90 (extreme greed). Cardano recorded 19/30 (63%) green days with 32.10% price volatility over the last 30 days. Based on the Cardano forecast, it’s now a good time to buy Cardano.”

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On Sunday, November 17, Ripple’s (XRP) price hit $1 for the first in three years. This landmark also saw XRP volume rise to $24 billion, but as of this writing, that value has since dropped.

This decline indicates that interest in the altcoin is no longer as high as it was earlier. But how will this affect XRP’s price?

Market Attention to Ripple Drops

According to Santiment, XRP’s volume recently peaked at $24.40 billion but has since dropped significantly to $7 billion, marking a $17 billion decrease in buying and selling activity.

From a technical perspective, a rising price coupled with increasing volume typically signals a strong and sustainable uptrend. However, when the price rises while volume declines, it suggests weakening momentum and a potential reversal.

This appears to align with XRP’s current situation, where the volume drop indicates diminished market participation. If this trend persists, XRP’s price could struggle to maintain its upward trajectory and risk falling below the $1 mark in the short term.

Furthermore, a look at social dominance shows that the reading has dropped. Social dominance is measured by analyzing the percentage of discussions focused on a specific cryptocurrency compared to the total discussions happening across various crypto-related platforms. This metric highlights how much attention an asset is garnering within the broader crypto community.

When social dominance increases, it often indicates heightened interest or hype around the asset. Conversely, a decrease in social dominance may suggest that the asset is losing visibility or relevance in the market.

A few days ago, XRP’s social dominance was almost 13%. As of this writing, it has dropped to 2.34%, indicating that interest in the token has waned. Should this remain the case alongside the drop in XRP volume, the price might drop.

XRP Price Prediction:  Sub-$1 Possible

Based on the daily chart, XRP experienced a surge in buying pressure earlier. This was indicated by the Money Flow Index (MFI), an indicator that measures the level of capital injected into a cryptocurrency.

But as of this writing, the MFI reading has dropped from that peak. This decline indicates that buying pressure is no longer as high as it was some days back. Therefore, if this reading continues to decrease, then XRP’s price could drop to $0.80.

However, if XRP volume climbs to the double-digits region again, this trend might change. Should that happen, the cryptocurrency’s value could rise to $1.26.

• Dogecoin price reclaimed the $0.40 level on Monday after a 15% pullback from its three-year peak recorded on November 12.
• Dogecoin Age Consumed metric declines 95% from last week’s peak, signaling a decline in selling pressure among long-term holders.
• DOGE Volume Weighted Average Price (VWAP) has moved below the market price, displaying growing short-term demand.  

The Dogecoin price breached the $0.40 resistance on Monday, rebounding from a 15% pullback. On-chain transaction flows observed this week suggest DOGE could be on the verge of another leg-up toward $0.50. 

Dogecoin reclaims $0.40 as selling pressure drops 95%

 On November 14, Dogecoin price rose to a three-year peak of $0.44 amid bullish tailwinds from Trump’s confirmation of Elon Musk’s involvement in the proposed Department of Government Efficiency (DOGE). 

As markets peaked with 185% monthly gains on November 12, traders began locking in profits, which saw DOGE price succumb to a 15% correction before opening trading at $0.37 on Tuesday.

Dogecoin price action | DOGEUSD

However, Dogecoin on-chain transaction flows observed this week suggests the selling pressure has dropped considerably, a move that could potentially trigger another price uptrend. 

Santiment’s Age Consumed metric multiplies tokens traded by the number of days since they were last moved.

This serves as a proxy for monitoring spikes and dips in selling activity among long-term holders. 

Dogecoin price vs. Age consumed | Santiment

As traders began booking profits on November 12, Age Consumed rose as high as 1 trillion DOGE.

Within 24 hours of the spike, the Dogecoin price rally stalled as the long-held coins flooding the markets overshadowed short-term demand. 

However, the selling pressure has now subsided this week as the Age Consumed value fell to 49 billion DOGE at close of Monday, reflecting a 95% drop. 

In simple terms, as decline in the Age Consumed metric implies that a fewer number of long-held tokens are currently being traded.

This could be bullish for Dogecoin price action for two key reasons. 

First, with fewer dormant coins entering circulation, spikes in DOGE demand could trigger rapid price upswings.

Also long-term traders’ reluctance to sell despite triple-digit gains in November could reinforce bullish sentiment among prospective new entrants.

These dynamics suggest that Dogecoin could recover its upward momentum, particularly if new demand outpaces the dwindling short-term supply.

Dogecoin price forecast: All eyes on $0.44 resistance

Dogecoin’s price shows promising bullish momentum with the Volume-Weighted Average Price (VWAP) at $0.395, below the current market price of $0.399. This reflects rising short-term demand as the majority of buyers are now bidding higher prices to get their orders filled rather than wait on market orders.

In terms of short-term price projection, the Donchian Channel indicator shows DOGE faces initial resistance at the $0.44 level, which coincides with last week’s peak. 

Dogecoin price forecast | DOGEUSD

A breakout above the $0.44 resistance would affirm a continuation of the upward trend, possibly targeting $0.50 as the next milestone.

This scenario aligns with the evident accumulation phase as DOGE’s sustained position above the VWAP signifies bullish sentiment dominating the market.

On the downside, Donchian Channels also underline that the midline of the channel at $0.29 now serves as critical support.

Any breach below this level could invalidate the bullish narrative and lead to a correction toward $0.20, the lower channel boundary.

The number of active wallets on the Cardano network has decreased by 29,976 in the past 13 days amid retail profit-taking as larger holders accumulate assets.

Recent data from market intelligence platform Santiment reveals a decline in active wallets across several top-cap cryptocurrencies. This trend is often linked to fear, uncertainty, doubt (FUD), or capitulation among less experienced traders.

According to Santiment, these conditions may paradoxically act as bullish indicators as long-term holders tend to accumulate assets during such periods.

Cardano Wallet Decline After Major Price Pump

For Cardano, the network has seen a decrease of 34,931 wallets over the past month, representing a 0.78% drop. Notably, in just the last 13 days, 29,976 wallets became inactive.

Santiment attributes this pattern to short-term profit-taking among retail investors as it coincides with major price gains. Notably, ADA has surged by over 108% in the last two weeks, reclaiming its yearly highs. However, the rally is cooling as ADA stalls around $0.7326.

Santiment noted that historically, retail traders tend to lock in profits when bullish momentum builds, which explains the decline in ADA wallets. Meanwhile, Santiment data suggests that the decline in wallets aligns with long-term accumulation by larger holders.

Essentially, the downward trend in wallet activity is a positive sign for ADA’s long-term price prospects. As retail investors dump their holdings on small gains, whales, with a long-term perspective, buy back the tokens.

Bitcoin and Dogecoin Follow Patterns

Bitcoin (BTC) has also experienced a reduction of 15,120 wallets in just the past four days. Similarly, Dogecoin (DOGE) saw a steep decline of 24,456 wallets within a single day. 

Both assets exhibit patterns consistent with retail traders exiting positions after significant gains. Santiment notes that such reductions in wallet activity can often be a bullish sign, suggesting long-term price stability.

History Supports Bullish Predictions

In addition to wallet activity, historical analysis of Cardano offers insights into potential price trajectories.

Analyst Ali Martinez recently projected that ADA could surge by over 713%, reaching $6 by late 2025. Martinez’s prediction is based on similarities between the current market cycle and Cardano’s rapid growth during the 2020-2021 bull run.

Other analysts, including Ben Armstrong, have also weighed in on ADA’s future, estimating a price peak of $5 if market conditions remain favorable. 

Dogecoin (DOGE) might hit a new all-time high if it replicates the 2021 performance that saw it surge by 18,340% in five months.    

Dogecoin recently caught the attention of the broader crypto market following its tremendous rise above the $0.4 mark. Specifically, DOGE’s price spiked by 156% in one week, soaring from around $0.17 to $0.4359 between November 6 and 12.

The massive surge strengthened investors’ confidence in DOGE, as they speculate that the asset might repeat its 2021 rally in this bull run. 

Dogecoin Price If It Repeats 2021 Rally  

For context, Dogecoin stunned investors in 2021, soaring from a modest $0.0040 to an all-time high (ATH) of $0.7376 on May 8. This represents a staggering increase of 18,340% within the first five months of 2021. 

Amid Dogecoin’s recent rally, many investors are wondering how much DOGE would be worth if it replicates its 2021 performance this cycle. Achieving a similar growth rate of 18,340% before the end of this cycle would see the price of DOGE surge to an unprecedented level.

If Dogecoin is able to surge similarly to 2021 and repeat a potential surge of 18,340% from the current level, it will take its price to a whopping $69.03, marking a new ATH record for DOGE. This would positively impact Dogecoin’s market cap, boosting it to $10.12 trillion from the current $54.88 billion, potentially making DOGE the most valuable cryptocurrency in the world. 

At a price of $69.03, a portfolio of 14,486.5 DOGE, currently worth about $5,424, would be valued at $1 million. 

Key Factors to Consider 

While it remains uncertain whether Dogecoin will experience a surge of 18,340% as it did in 2021, it is important to note that three major factors contributed to DOGE’s jaw-dropping rally three years ago. 

Elon Musk Effect 

At the top of the list is the Elon Musk effect. Musk played a significant role in Dogecoin’s 2021 rise. His endorsement of the token on X paved the way for the 18,340% rally. 

Interestingly, Musk still has the capacity to drive Dogecoin’s price, as seen over the past week when DOGE surged by 156% due to his continuous mention of D.O.G.E (Department of Government Efficiency) on X. It is worth mentioning that U.S. President-Elect Donald Trump recently appointed Musk to head the new federal agency. 

Massive Retail Interest 

Elon Musk’s endorsement of Dogecoin in 2021 attracted the interest of retail investors, leading to an 18,340% rally. As Musk continues to mention the D.O.G.E agency on X, most retail investors would likely see it as an opportunity to acquire DOGE, potentially positioning the asset for a repeat of its 2021 rally. 

Bull Market 

Another factor that contributed to Dogecoin’s 18,340% rise in 2021 was the timing of the surge, which coincided with the 2021 bull market. 

At the time, several cryptocurrencies, including Ethereum (ETH) and Cardano (ADA), reached new ATHs. Notably, DOGE also benefited from the bull market, leading to its surge to an ATH. Currently, the market is in the second phase of the bull run, which is expected to linger till next year. 

Ripple (XRP) is one of the leading cryptocurrency tokens in the space that has recently garnered heavy attention. The token has recently claimed the coveted $1 mark, marking its ascent into the Web3 bullish realm. While certain predictions made by analysts suggest XRP claiming the $2 mark, here’s how high the token may surge before the end of 2024.

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XRP Price Predictions: Analysts Take On High Can XRP Go?

Ripple is currently one of the leading cryptocurrencies to hold. The fact that XRP is trending on Google searches speaks volumes about its popularity in recent times.

Per Egrag Crypto, a notable crypto analyst, XRP has more in store for investors as it may soon break past the $1 price in the coming months. Per the analyst, the current price juncture is crucial for XRP as its current trading is in a psychological zone. The analyst dubbed the token current price pedestal as a “make or break” spot for XRP to trade in, as the trending maker momentum may either push XRP to claim the $2 mark or note a drop for the token to sit at $0.75.

#XRP: We Are in the Psychological Zone! ($2 or 0.75c): Right now, it’s make-or-break for #XRP! Either we fly high 📈 or face a major retest (0.75c) 📉. Let me break it down for you using key indicators on the weekly timeframe: 🛠 Indicators in Focus: 1⃣ SSMP Diagram. 2️⃣ Stock RSI. 3️⃣ RSI. 4️⃣ MAC📊 1) SSMP Diagram: ▶️Key Level: $0.75 is absolutely CRUCIAL. It was the pump zone before, but now it’s the level we must hold!. If $1 doesn’t hold strong 💪 with a weekly open and close above it, my next target shifts to $0.75.”

Similar to another notable cryptocurrency analyst, Dark Defender has also referred to XRP as a token in a blossoming phase. He shared how XRP will continue its momentum ahead, which may help it hit ambitious price highs soon.

“I expect the correction to last a few days. Not weeks or months. It will be too short. $XRP will continue the momentum. You might not believe this, and it might seem artificial, but it is not: We have a golden target of $13.085 (NFA), which became crystal clear yesterday. Strange, isn’t it? The melting process will continue.”

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How High Can The Token Go Before The End Of 2024?

Per CoinCodex, the technical platform predicts XRP to hit the $0.73 mark, note a significant drop, otherwise dubbed a retest before surging to $2 in 2025.

The portal also predicts the token to hit the $3 mark by April 2025 and ultimately trade around $2 by May 2025.

“According to our current XRP price prediction, the price of XRP is predicted to rise by 116.98% and reach $2.43 by May 18, 2025. Per our technical indicators, the current sentiment is bullish while the Fear & Greed Index is showing 83 (extreme greed). XRP recorded 19/30 (63%) green days with 28.24% price volatility over the last 30 days. Based on the XRP forecast, it’s now a good time to buy XRP.”

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