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A new week has started positively for most of the coins, according to CoinMarketCap.
On the daily chart, the price of BTC keeps growing after yesterday’s bullish closure. As there are no vital levels nearby, one should pay attention to the nearest bar peak of $81,482. If the candle closes far from it, the upward move is likely to continue.
Bitcoin is trading at $82,063 at press time.
ETH/USD
Unlike other coins, the price of Ethereum (ETH) has dropped by 0.44% over the last 24 hours.
From the technical point of view, one should pay attention to yesterday’s bar’s peak of $3,248. If buyers’ pressure continues, there is a possibility of seeing a level breakout, followed by a move to the $3,300-$3,400 zone soon.
Ethereum is trading at $3,186 at press time.
XRP/USD
The rate of XRP has increased by 0.21% over the last day.
On the daily chart, the price of XRP has made a false breakout of the resistance level of $0.6069. However, if the rate gets back to it, one can expect a blast to the $0.64 area by the end of the week.
Dogecoin could move close to setting a new all-time high (ATH) if its market cap surges to $100 billion amid the ongoing bull run.
Dogecoin (DOGE) has remained one of the top gainers in the second phase of the bull run. Amid the recent rally, the dog-themed token has achieved jaw-dropping milestones, including hitting a 52-week high of $0.3032 and ranking as the sixth most valuable cryptocurrency on CoinMarketCap.
At the current price of $0.4048, Dogecoin is up 45.6% over the past 24 hours and 141.04% in the past seven days. Interestingly, Dogecoin’s market cap has also increased by 45.6% in the past day to $59.42 billion.
DOGEUSDT 2024 11 12 07 59 37
Dogecoin Solidifies Its Dominance in Memecoin Market
To put this into perspective, Dogecoin accounts for 52.92% of the total memecoin market cap of 112.28 billion, cementing its position as the number one meme-based cryptocurrency.
Shiba Inu closely follows Dogecoin in the ranking with a market cap of $17.1 billion, representing 15.28% of the total memecoin valuation. Pepe and Dogwifhat are trailing SHIB, with their valuations worth $6.08 billion and $3.22 billion, respectively.
Dogecoin Could Hit $100B Market Cap Soon
Following Dogecoin’s impressive run in the past few days, there are speculations that the asset could hit a market cap of $100 billion in the 2024/2025 bull run. Specifically, market observer Jake Gagain predicted that Dogecoin would be the first memecoin to hit a $100 billion valuation.
Hitting this valuation requires an increase of 68.29% from the current market cap of $59.42 billion. This could further solidify Dogecoin’s dominance in the memecoin market and potentially elevate the cryptocurrency to the fifth spot in the global crypto ranking, overtaking BNB (BNB), which currently has a valuation of $93.78 billion.
Here’s Dogecoin’s Price if it Hits a Market Cap of $100B
As the Dogecoin community anticipates DOGE’s surge to a $100 billion market cap, we analyzed how much a single DOGE could be worth if this projection materializes.
First, we considered Dogecoin’s circulating supply, which currently stands at 146,757,136,384 (146.75 billion) DOGE. If Dogecoin hits the $100 billion market cap, DOGE will trade at $0.6813 per token, assuming its circulating supply remains stable.
It is worth mentioning that the projected price of $0.6813 is still 7.63% below Dogecoin’s all-time high of $0.7376, registered on May 8, 2021. Meanwhile, the $0.68 target is close to other predictions issued by other crypto proponents.
As reported in August, popular chartist Javon Marks projected that Dogecoin could surge to $0.6533 in the coming months, referencing key technical indicators like the asset’s Relative Strength Index (RSI).
In the meantime, Dogecoin is still showing signs of upward momentum, with The Crypto Basic setting a potential target of $0.5408 based on Fibonacci projections.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Frustration over XRP’s price performance is reaching new heights among the community as Bitcoin nears $90K per token and the global crypto market caps at $3 trillion.
At the same time, XRP has remained largely stagnant in recent months. Currently, XRP is trading at $0.6031, reflecting a 12% increase over the last 24 hours. Earlier today, XRP touched $0.6217, marking a two-month high. Meanwhile, Bitcoin has broken the $89K mark, hitting an unprecedented level.
Other altcoins, like Dogecoin and Solana, are approaching their previous all-time highs, showing strong momentum as the bull run intensifies. Dogecoin has surged over 200% in the past seven days alone.
In contrast, XRP has only reclaimed a seven-week high. Amid its lackluster performance, Dogecoin has overtaken XRP, with the gap between them widening daily.
In light of these developments, community members have voiced their frustration with Ripple executives, especially Ripple’s CTO David Schwartz, urging them to “do something” about XRP’s stagnant price.
This came when Schwartz revisited the concept of investment contracts in the context of the ongoing SEC lawsuit yesterday. He noted that buying art is not an investment contract because the artist has no contractual obligation to increase its value or act in the buyer’s financial interest.
However, a commenter expressed frustration, arguing that XRP holders have seen no financial return over the past seven years. The user described the situation as a “waste of time and money” and singled out Schwartz as the central figure behind the perceived failure.
Ripple CTO Responds
In his response, Schwartz explained that the value of his own XRP holdings had fluctuated similarly to those of other investors. He emphasized that his efforts to increase XRP’s value were no different from those made on behalf of the broader XRP community.
My XRP has gone up and down in value precisely the same way everyone else’s has. There is no way you could notice any distinction between me acting to increase the value of my XRP (or Ripple’s XRP) and me acting to increase the value of everyone’s XRP.
However, the critic accused Schwartz and Ripple of selling billions of dollars worth of XRP over the past seven years without reinvesting in the ecosystem or incentivizing developers. The commenter argued that Ripple had focused too heavily on courting banks, which they believed had ultimately failed, leaving XRP holders disappointed.
In a separate reply, an X user named Vandal compared his experience with XRP to being “rug-pulled” during two previous bull runs. Vandal even called it “the most painful investment experience” he had ever encountered.
Ripple Cannot Promote XRP
Meanwhile, legal expert Bill Morgan offered a different perspective on the situation. He pointed out that one key reason the court ruled Ripple’s programmatic sales of XRP were not investment contracts under the Howey Test was the lack of evidence that Ripple directly promoted XRP to retail holders. Despite this, the SEC is appealing the ruling.
Morgan further argued that even if Ripple wanted to promote XRP to retail holders in the future, it was unlikely to do so while legal proceedings were still ongoing.
In contrast, he highlighted that Bitcoin does not face similar restrictions, as its holders are free to promote it without any concern from the SEC. Morgan suggested that the SEC’s treatment of the two assets created an “unfair advantage” for Bitcoin.
It was the relative lack of evidence of promotion of XRP to retail holders that was one major reason that the court found that programmatic sales of XRP by Ripple did not satisfy the third prong of the Howey test and were not investment contracts. Even then, the SEC is appealing… https://t.co/AERc1z17qY
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Bitcoin has continued hitting new all-time highs as prediction markets price in high odds of a run to $100K.
Ecoinometrics suggests that BTC’s rally still falls short of its historic post-halving growth.
Asset manager Bernstein appealed to investors to begin adding Bitcoin exposure.
Bitcoin is consistently setting new record highs on Monday after breaking above $89K. The continued uptrend has led asset managers like Bernstein to urge investors to consider adding Bitcoin exposure to their portfolios. Meanwhile, prediction market participants speculate that Bitcoin could reach $100K by the end of 2024.
Bitcoin surge above $89K as investors continue to hold
Bitcoin shot over 10% in the past 24 hours, crossing above the $89K level as its price is still largely influenced by Donald Trump’s presidential election victory last week.
As the world’s largest asset continues its rally, prediction market Polymarket has seen increased speculation that Bitcoin will hit $100K before the year ends. This could fuel the bullish momentum, with positive sentiment stirring among investors and crypto enthusiasts.
Bitwise Chief Investment Officer, Matt Hougan, stated that long-term Bitcoin holders have yet to sell below $100K, even as more investors seek to join the rally.
“An equal part of this rally is that people have stopped selling. Long-term owners are no longer willing to part with bitcoin below $100k, and short-sellers don’t want to step in front of a freight train,” he wrote in an X post on Monday.
Likewise, asset managers amassed record-breaking Bitcoin ETFs volume in the past week. This resulted in firms like Bernstein urging investors to consider gaining exposure to Bitcoin, hinting at a wild price rally.
Today, the Bitcoin ETFs saw record inflows, which, according to Eric Balchunas, suggest strong positive sentiment for the week.
“The Bitcoin Industrial Complex (ETFs + MSTR, COIN) saw $38b in trading volume today, lifetime records being set all over the place, including $IBIT which did $4.5b, which points to a robust week of inflows.”
However, regardless of the massive energy behind the rally, the crypto data platform Ecoinometrics data suggests that Bitcoin’s current rally is yet to match its price growth during the market rally in early March.
The data also highlights previous halving seasons and the growth trajectory that often followed them.
XRP briefly touched $0.60 but trails behind many other cryptocurrencies in terms of weekly gains.
However, analysts believe it can experience a significant rally under some important conditions.
Is It Time for XRP to Shine?
Ripple’s XRP witnessed a solid resurgence in the past week, with its price jumping by 14% and briefly crossing $0.60. However, it slightly retraced in the past 24 hours to the current $0.585.
XRP Price, Source: CoinGecko
While XRP is in the green zone on a weekly scale, its gains are much less substantial than those of other leading cryptocurrencies. Recall that Bitcoin (BTC) hit a new ATH of over $84,000 earlier today (November 11), Cardano (ADA) has exploded by 80% in the past seven days, and Dogecoin (DOGE) tapped a three-year high of $0.31.
Nonetheless, several analysts remain optimistic that Ripple’s native token has yet to make the headlines. One person touching upon the matter was X user LEB CRYPTO. The trader predicted that XRP “can full send” once Ethereum (ETH) and Solana (SOL) “cool down.”
It is worth noting that ETH had lost some steam in the past 24 hours, with its price dropping below $3,200. However, it’s up again to $3,250 as of writing these lines. SOL keeps pumping and is currently worth around $220 (after registering a 5% daily increase).
For their part, Dark Defender noted XRP’s brief spike to $0.60, claiming it is poised to beat the “Diablo” resistance zone of $0.6655. CRYPTOWZRD said “we need more bullishness from XRP/BTC to expect a further bullish rally towards $0.65.”
“XRP/BTC needs to breakout above the 0.000007850 BTC resistance target area, a successful bullish breakout of that resistance will offer an upside rally which will help XRP to become bullish with it.
XRP should see a quick rally towards $0.6500, and for now, $0.5500 will be the main daily support target. Both Bitcoin and XRP/BTC will be leading the next move,” they concluded.
The Ripple v. SEC Case Remains an Obstacle
One potential factor putting the breaks on XRP is the ongoing lawsuit between Ripple and the US SEC. It dates back to December 2020, when the regulator accused the company and some of its executives of illegally raising more than $1.3 billion in an unregistered securities offering by selling its native token.
The case underwent numerous developments in the following years. Last month, the SEC appealed a 2023 verdict set by Judge Torres. The move is likely to delay the final resolution for another few years.
Conversely, an official end might come earlier than expected if Donald Trump sticks to his promise and fires the SEC’s Chairman, Gary Gensler. At least, that is what the American lawyers Jeremy Hogan and Fred Rispoli believe.
The former thinks the regulator’s new regime could dismiss all non-fraud crypto lawsuits filed over the years. He argued that the Ripple case may be officially settled for the previously ruled amount of $125 million.
Rispoli claimed that Trump’s election might lead to “extreme changes” at the SEC. He also assumed that the $125 million fine could end the lengthy legal tussle.
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Meme coin launchpad Pump Fun has offloaded more of its SOL holdings following the recent Solana price rally to $220. This comes amid predictions that Solana could soon reach its current all-time high (ATH) and possibly surpass it soon enough.
Pump Fun Sells 43,000 SOL As Solana Price Surges
In an X post, the on-chain analytics platform Lookonchain revealed that Pump Fun has sold 43,000 SOL ($9.46 million. The meme coin launchpad has sold 793,243 SOL ($132.5 million) out of its total revenue of almost 1.2 million SOL ($263 million). Solscan data shows that the Pump Fun fee account still holds 220,865 SOL ($48.4 million).
This development came as the Solana price hit $220, which marked a yearly high for the crypto. SOL’s outlook is currently bullish, with the Bitcoin price rallying and bullish sentiment in the broader crypto market.
The Solana price is also bullish, given the liquidity flowing into the SOL ecosystem. Debridge data showed that over $160 million has been bridged into the Solana ecosystem in the last seven days.
The meme coin frenzy on the Solana network has partly contributed to these inflows as market participants look to trade meme coins on the network. This frenzy was over the roof today, as Solana meme coins ACT and PNUT rallied 1,300% and 250%, respectively, following Binance’s spot listing.
Thanks to this meme coin frenzy, Solana topped Ethereum in weekly decentralized exchange (DEX) volume for the sixth consecutive week. DeFiLlama data shows that Solana recorded a trading volume of $17.484 billion in the last seven days, while Ethereum’s DEX volume was $14.97 billion during this period.
SOL To Reach All-Time High Soon
In an X post, Crypto analyst Altcoin Sherpa said that the Solana price will soon reach its current ATH of $260. He made this prediction while remarking that market participants should not fade the “biggest casino this cycle” in allusion to the meme coin frenzy on the Solana network.
The analyst’s accompanying chart showed that the Solana price could quickly run to $290 as soon as it breaches its ATH at $260. According to a CoinGape market analysis, Solana eyes $263 and $330 as the next potential targets following its most recent price rally. Meanwhile, there is also the possibility that SOL could rally to as high as $1,000 in this market cycle.
At the time of writing, the Solana price is trading at around $219, up over 4% in the last 24 hours. SOL’s trading volume is up over 40%, with $10.17 billion traded during this period.
✓ Share:
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The cryptocurrency market is witnessing a remarkable phenomenon
as Dogecoin’s (DOGE) price continues its extraordinary ascent,
reaching $0.3292 and becoming the sixth-largest crypto by market value.
At the time of writing, this price action has created
unprecedented excitement in the crypto space.
The price of
Dogecoin has shown exceptional strength in the past 24 hours, with
several notable achievements:
A staggering 152% gain over the past month
An 86% increase in just seven days
Trading volume reaching $21.7 billion
in the last 24 hours
Surpassing its previous peaks since
the 2021 bull run
On November 11, 2024,
Dogecoin (DOGE) experienced a 15% increase on Coinbase, reaching $0.3292—the
highest level since October 2021.
Why Dogecoin price is up today? Source: Tradingview.com
This surge is attributed
to a combination of political and economic factors, as well as technical
analysis and market speculation. Notably, Bitcoin (BTC), the largest and oldest
cryptocurrency, achieved a record high, testing the $85,000 mark on Monday.
Why Is Dogecoin Price Up
Today? Political Catalysts and Market Sentiment
The crypto market received
a significant boost following Republican candidate Donald Trump’s victory.
This development has particularly benefited DOGE, as Trump’s
pro-cryptocurrency stance has energized crypto enthusiasts. Bitcoin’s
price and other cryptocurrencies like Bitcoin have also
reached new all-time highs.
Economic and Political
Drivers:
Pro-crypto policies
expected from the Trump administration.
Global economic
instability, with investors looking for alternative assets.
Increasing institutional
acceptance of crypto as a hedge against inflation.
Elon Musk, CEO of X, CEO and Chief Engineer of SpaceX, and CEO and Product Architect of Tesla.
Elon Musk’s Influence and
the D.O.G.E Proposal
Musk’s support for
Dogecoin continues through his proposal for a “Department of Government
Efficiency” (abbreviated as D.O.G.E). This concept has sparked
renewed attention and interest in Dogecoin among investors and
the Dogecoin community. It has also created hype around DOGE, drawing in
new retail investors.
Key Social Media
Influences:
Elon Musk and other
crypto-friendly figures endorsing DOGE.
Communities on Twitter
and Reddit rallying behind Dogecoin.
Memes and viral trends
keep DOGE in the public eye.
Dogecoin News: DOGE is currently the 6th biggest crypto by market cap. Source: CoinMarketCap
Retail and Institutional
Investors
The appeal of Dogecoin
has grown beyond retail investors, as institutional investors also start to
show interest. Platforms like Robinhood and Coinbase have made it easier for
everyday people to invest in Dogecoin, adding to its popularity. As institutional
interest in DOGE grows, so does its trading volume, pushing prices higher.
Large investors, often
called “whales,” have shown increased interest in Dogecoin. Data
indicates that whale wallets holding between 100 billion and 1 billion coins
have significantly increased their holdings from 2.68 million to 30.56 million coins.
This accumulation pattern often precedes major price movements and suggests
strong institutional confidence in the asset.
Investor Impact:
Retail Investors: DOGE’s accessibility on major platforms makes
it popular among small investors.
Institutional Investors: Interest from hedge funds and financial
institutions lends DOGE credibility, raising its market value.
The current price action shows several bullish technical indicators. Technical
analysis shows a bullish pattern for Dogecoin. Recently, DOGE formed a golden
cross pattern, a technical signal indicating future gains. This pattern, along
with high trading volume, supports the likelihood of continued price increases.
Additionally, DOGE’s U-shaped recovery pattern hints at a possible rise to
$0.37 if it continues on its current trend.
50 and 200 EMA generated a strong buy singal on Dogecoin’s chart. Source: Tradingview.com
Golden
Cross Formation
A significant technical event occurred as the 50-day moving average crossed
above the 200-day moving average, forming a golden cross. This pattern
typically signals strong bullish momentum and has historically preceded major
price rallies4.
Trading
Metrics
Funding rate reached 0.0448%, the highest since June
2024
Short liquidations totaled $37.25 million
Long liquidations reached $24 million
The current price shows
several bullish patterns:
Formation
of a golden cross
Strong support levels established
since May 2021
Increased institutional interest in digital
assets
“Doge will
be the biggest runner of this bull run,” commented popular X influencer Jeremy. “Elon Musk publicly comes out as the co-founder of Dogecoin. Trump and Elon
both mentioned integrating dogecoin as a big part of America’s economy.
doge will be the biggest runner of this bull run
elon musk publicly comes out as the co founder of dogecoin
trump and elon both mentioned integrating dogecoin as a big part of america’s economy
Market analysts provide
varying predictions for 2025 and beyond:
Timeline
Minimum Price
Maximum Price
Average Price
Short-term
$0.377
$0.45
$0.41
Mid-term
$3.95
$4.50
$4.20
Long-term
$23.25
$25.00
$24.15
While
the current rally is impressive, several factors suggest continued growth
potential:
Market
Position
Surpassed
both XRP and USDC in market capitalization
Established
itself as a leading alternative cryptocurrency
Increased
institutional interest and adoption
The
convergence of political developments, technical factors, and social sentiment
has created a unique environment for Dogecoin’s growth. While price predictions
vary widely, the fundamental drivers behind the current rally appear robust and
sustainable.
Speculation-driven: Dogecoin’s value relies on hype rather than intrinsic value.
Possible regulatory restrictions could hinder its growth.
Media and FOMO (Fear of
Missing Out)
Dogecoin’s
rise is also driven by media coverage and the psychology of FOMO (Fear of
Missing Out). Coverage from major financial news outlets, as well as social
media buzz, has led to more investors buying in, hoping not to miss the gains.
DOGE’s
popularity has been sustained by frequent price spikes, leading to a cycle of
FOMO among both retail and institutional investors.
FOMO
Factors:
Increased
media attention from platforms like Cointelegraph and Economies Times.
DOGE’s
reputation as a volatile, high-return asset appeals to thrill-seeking
investors.
The Digital Currency Landscape
Unlike traditional
assets, Dogecoin uses blockchain technology to decentralize transactions.
Created by Billy Markus and named after the popular Doge
meme, it has evolved from a joke to a serious digital currency.
Dogecoin’s recent price
rise can be attributed to a mix of social media influence, retail and
institutional interest, political changes, and favorable technical patterns.
However, as with any investment, especially in the crypto market, investors
should proceed with caution. The future of Dogecoin remains uncertain, and
while there’s potential for further growth, there are also significant risks
tied to its volatility and regulatory environment.
Dogecoin News and Price, FAQ
Is there a future in
Dogecoin?
Dogecoin
shows promising future potential with ongoing technological developments like
GigaWallet and RadioDoge. While its inflationary nature presents challenges,
expanding merchant adoption by companies like Microsoft and Tesla, along with
potential integration into X Payments, suggests a sustainable future for DOGE
as a payment solution.
Will Dogecoin reach $1 in
2024?
Most
analysts predict Dogecoin is unlikely to reach $1 in 2024, with conservative
estimates suggesting a maximum price range of $0.26-$0.45. Current forecasts
indicate DOGE could reach $0.234 by the end of 2024, with more significant
gains expected in 2025-2026.
Why is Dogecoin going up?
Dogecoin’s
recent surge is driven by multiple factors: Trump’s victory in the 2024
election, Elon Musk’s proposed Department of Government Efficiency (D.O.G.E.),
increased whale activity with over $68.7 million in transactions, and the
formation of a golden cross pattern on technical charts.
What is happening with
DOGE?
DOGE is
experiencing significant momentum, having risen 152% in the past month to reach
$0.32. The cryptocurrency has become the sixth-largest by market cap ($47.9B),
with substantial trading volume of $21.7B. Major catalysts include political
developments, institutional interest, and potential integration into social
media platforms
The cryptocurrency market is witnessing a remarkable phenomenon
as Dogecoin’s (DOGE) price continues its extraordinary ascent,
reaching $0.3292 and becoming the sixth-largest crypto by market value.
At the time of writing, this price action has created
unprecedented excitement in the crypto space.
The price of
Dogecoin has shown exceptional strength in the past 24 hours, with
several notable achievements:
A staggering 152% gain over the past month
An 86% increase in just seven days
Trading volume reaching $21.7 billion
in the last 24 hours
Surpassing its previous peaks since
the 2021 bull run
On November 11, 2024,
Dogecoin (DOGE) experienced a 15% increase on Coinbase, reaching $0.3292—the
highest level since October 2021.
Why Dogecoin price is up today? Source: Tradingview.com
This surge is attributed
to a combination of political and economic factors, as well as technical
analysis and market speculation. Notably, Bitcoin (BTC), the largest and oldest
cryptocurrency, achieved a record high, testing the $85,000 mark on Monday.
Why Is Dogecoin Price Up
Today? Political Catalysts and Market Sentiment
The crypto market received
a significant boost following Republican candidate Donald Trump’s victory.
This development has particularly benefited DOGE, as Trump’s
pro-cryptocurrency stance has energized crypto enthusiasts. Bitcoin’s
price and other cryptocurrencies like Bitcoin have also
reached new all-time highs.
Economic and Political
Drivers:
Pro-crypto policies
expected from the Trump administration.
Global economic
instability, with investors looking for alternative assets.
Increasing institutional
acceptance of crypto as a hedge against inflation.
Elon Musk, CEO of X, CEO and Chief Engineer of SpaceX, and CEO and Product Architect of Tesla.
Elon Musk’s Influence and
the D.O.G.E Proposal
Musk’s support for
Dogecoin continues through his proposal for a “Department of Government
Efficiency” (abbreviated as D.O.G.E). This concept has sparked
renewed attention and interest in Dogecoin among investors and
the Dogecoin community. It has also created hype around DOGE, drawing in
new retail investors.
Key Social Media
Influences:
Elon Musk and other
crypto-friendly figures endorsing DOGE.
Communities on Twitter
and Reddit rallying behind Dogecoin.
Memes and viral trends
keep DOGE in the public eye.
Dogecoin News: DOGE is currently the 6th biggest crypto by market cap. Source: CoinMarketCap
Retail and Institutional
Investors
The appeal of Dogecoin
has grown beyond retail investors, as institutional investors also start to
show interest. Platforms like Robinhood and Coinbase have made it easier for
everyday people to invest in Dogecoin, adding to its popularity. As institutional
interest in DOGE grows, so does its trading volume, pushing prices higher.
Large investors, often
called “whales,” have shown increased interest in Dogecoin. Data
indicates that whale wallets holding between 100 billion and 1 billion coins
have significantly increased their holdings from 2.68 million to 30.56 million coins.
This accumulation pattern often precedes major price movements and suggests
strong institutional confidence in the asset.
Investor Impact:
Retail Investors: DOGE’s accessibility on major platforms makes
it popular among small investors.
Institutional Investors: Interest from hedge funds and financial
institutions lends DOGE credibility, raising its market value.
The current price action shows several bullish technical indicators. Technical
analysis shows a bullish pattern for Dogecoin. Recently, DOGE formed a golden
cross pattern, a technical signal indicating future gains. This pattern, along
with high trading volume, supports the likelihood of continued price increases.
Additionally, DOGE’s U-shaped recovery pattern hints at a possible rise to
$0.37 if it continues on its current trend.
50 and 200 EMA generated a strong buy singal on Dogecoin’s chart. Source: Tradingview.com
Golden
Cross Formation
A significant technical event occurred as the 50-day moving average crossed
above the 200-day moving average, forming a golden cross. This pattern
typically signals strong bullish momentum and has historically preceded major
price rallies4.
Trading
Metrics
Funding rate reached 0.0448%, the highest since June
2024
Short liquidations totaled $37.25 million
Long liquidations reached $24 million
The current price shows
several bullish patterns:
Formation
of a golden cross
Strong support levels established
since May 2021
Increased institutional interest in digital
assets
“Doge will
be the biggest runner of this bull run,” commented popular X influencer Jeremy. “Elon Musk publicly comes out as the co-founder of Dogecoin. Trump and Elon
both mentioned integrating dogecoin as a big part of America’s economy.
doge will be the biggest runner of this bull run
elon musk publicly comes out as the co founder of dogecoin
trump and elon both mentioned integrating dogecoin as a big part of america’s economy
Market analysts provide
varying predictions for 2025 and beyond:
Timeline
Minimum Price
Maximum Price
Average Price
Short-term
$0.377
$0.45
$0.41
Mid-term
$3.95
$4.50
$4.20
Long-term
$23.25
$25.00
$24.15
While
the current rally is impressive, several factors suggest continued growth
potential:
Market
Position
Surpassed
both XRP and USDC in market capitalization
Established
itself as a leading alternative cryptocurrency
Increased
institutional interest and adoption
The
convergence of political developments, technical factors, and social sentiment
has created a unique environment for Dogecoin’s growth. While price predictions
vary widely, the fundamental drivers behind the current rally appear robust and
sustainable.
Speculation-driven: Dogecoin’s value relies on hype rather than intrinsic value.
Possible regulatory restrictions could hinder its growth.
Media and FOMO (Fear of
Missing Out)
Dogecoin’s
rise is also driven by media coverage and the psychology of FOMO (Fear of
Missing Out). Coverage from major financial news outlets, as well as social
media buzz, has led to more investors buying in, hoping not to miss the gains.
DOGE’s
popularity has been sustained by frequent price spikes, leading to a cycle of
FOMO among both retail and institutional investors.
FOMO
Factors:
Increased
media attention from platforms like Cointelegraph and Economies Times.
DOGE’s
reputation as a volatile, high-return asset appeals to thrill-seeking
investors.
The Digital Currency Landscape
Unlike traditional
assets, Dogecoin uses blockchain technology to decentralize transactions.
Created by Billy Markus and named after the popular Doge
meme, it has evolved from a joke to a serious digital currency.
Dogecoin’s recent price
rise can be attributed to a mix of social media influence, retail and
institutional interest, political changes, and favorable technical patterns.
However, as with any investment, especially in the crypto market, investors
should proceed with caution. The future of Dogecoin remains uncertain, and
while there’s potential for further growth, there are also significant risks
tied to its volatility and regulatory environment.
Dogecoin News and Price, FAQ
Is there a future in
Dogecoin?
Dogecoin
shows promising future potential with ongoing technological developments like
GigaWallet and RadioDoge. While its inflationary nature presents challenges,
expanding merchant adoption by companies like Microsoft and Tesla, along with
potential integration into X Payments, suggests a sustainable future for DOGE
as a payment solution.
Will Dogecoin reach $1 in
2024?
Most
analysts predict Dogecoin is unlikely to reach $1 in 2024, with conservative
estimates suggesting a maximum price range of $0.26-$0.45. Current forecasts
indicate DOGE could reach $0.234 by the end of 2024, with more significant
gains expected in 2025-2026.
Why is Dogecoin going up?
Dogecoin’s
recent surge is driven by multiple factors: Trump’s victory in the 2024
election, Elon Musk’s proposed Department of Government Efficiency (D.O.G.E.),
increased whale activity with over $68.7 million in transactions, and the
formation of a golden cross pattern on technical charts.
What is happening with
DOGE?
DOGE is
experiencing significant momentum, having risen 152% in the past month to reach
$0.32. The cryptocurrency has become the sixth-largest by market cap ($47.9B),
with substantial trading volume of $21.7B. Major catalysts include political
developments, institutional interest, and potential integration into social
media platforms
These days, predictions are all over the place in the crypto world. Pretty much all of the cryptocurrencies are on the rise, but people are rightfully wondering how long will that last, and what will be the end result.
It’s no different for Cardano (ADA), as this cryptocurrency also saw a nice boost.
There’s good news for meme coins as well, with the likes of Dogecoin surging over 30% the day after the US elections. In addition, an awesome new project is on the horizon – Shiba Galaxy, a meme coin with huge potential.
Let’s dive in.
How well is Cardano doing?
It would be an understatement to say that the crypto world is doing very well in these last couple of days. Trump’s win gave a huge boost to a lot of cryptocurrencies, with Bitcoin (as the blockbuster crypto star and go-to example) hitting an all-time peak.
It would be fair to say that Cardano is all over the place, fluctuating every few days. The price goes up, then a bit down, then up again, and so on. It’s not a straight line increase but it definitely is a 25% increase compared to the day before the elections.
Judging by a pattern from four years ago, some analysts believed that a pump might happen around a few weeks from now, and that Cardano will reach its peak in autumn next year. Some forecasts say that Cardano might go to $1.1351 at the start of the next year.
At the time of writing, Cardano is sitting at $0.442.
On the other hand, meme coins are fully enjoying their day in the sun, with a noticeable increase. For example, the day after the presidential elections, a growth of 200% was registered in daily trading volume across the meme coin sector.
Perhaps the crazy thing is, that’s probably not the most exciting news when it comes to meme coins. That honor goes to Shiba Galaxy ($SHIBG), the project poised to make a significant impact.
Meme coin goodness overload
One of the most exciting and interesting projects in the meme coin market lately, Shiba Galaxy has some unique features that you don’t see every day when it comes to meme coins.
So why is it so noteworthy?
For starters, Shiba Galaxy is building an L2 blockchain focused on creating and launching new meme coins. On top of that, it offers rapid, cost-effective bridging between Ethereum and Shiba Galaxy Chain, which in some way makes it a pioneer as it is bridging the divide between meme coins and traditional, utility-focused tokens.
It also features a dedicated block explorer and on-chain builder. The cherry on top is that this coin has already been audited, offering strong security.
The coin is going through its pre-sale phase, and is currently priced at $0.109.
Worth mentioning is that its market cap is fairly lower than other similar projects, at $30 million. As such, Shiba Galaxy presents a prime opportunity for investment in times when the crypto world eagerly anticipates the potential meme coin super cycle.
Be prepared
These have been a great few days for the crypto industry and its people. We’re still waiting to see how all of it will look like after the post-Trump win dust settles, but there is no denying that crypto enthusiasts have plenty to look forward to when it comes to meme coins – in no small part thanks to Shiba Galaxy.
Granted, Cardano is doing relatively well too, with some favorable predictions. However, from the looks of it, virtually nobody believes it will ever reach its highest peak from several years ago – at least not anytime soon.
That’s what makes Shiba Galaxy so interesting and enticing. It’s a meme coin that packs a lot of punch while being cost-effective – all the ingredients for a proper boom in the meme coin sector.
This week, Ripple’s XRP is testing key resistance levels, holding steady just below $0.60. With pro-crypto policies on the horizon, traders and expert analysts wonder if post-election optimism could catapult XRP beyond $5. Meanwhile, JetBolt (JBOLT) is another altcoin that’s capturing attention. JetBolt, currently in presale, is drawing whales faster than you can say “zero-gas fees” with its impressive blockchain power and fully operational ecosystem.
As Ripple navigates a cautious rally, JetBolt surges on with features that redefine efficiency in crypto transactions. Is the shift of whales into JetBolt a sign of the future? Will XRP’s rally withstand the current market wave? Let’s dive into XRP’s path ahead, and why JetBolt’s groundbreaking technology might just make it the next big thing in the crypto world.
Ripple’s $5 Goal: Will Post-Election Optimism Be Enough?
With the recent U.S. election reigniting optimism around pro-crypto policy changes, some XRP enthusiasts are eyeing a long-awaited target: $5. However, breaking through this milestone remains far from certain. XRP may have recently hit $0.618, its highest level since October, yet it’s still over 491.92% away from its all-time high of $3.40—a record set in 2018.
Reaching $5 would require an extraordinary rally, one that even the current bullish wave may not fully support. Over the past week, XRP’s price surged from $0.50 to a high of $0.61, now pinned at $0.5759. XRP’s price movements show modest gains but still struggle to find footing above key resistance levels.
7-day XRP price chart from CoinMarketCap showing a rise from $0.50 to $0.61 amid bullish momentum
According to technical analysis, XRP must first conquer the $0.9302 resistance level before aiming higher. This level represents the neckline of a long-standing support trendline that has held strong since mid-2022. Crypto analysts argue that only if XRP breaches this level could it attempt a run at its all-time high and, eventually, the elusive $5 mark.
Adding to XRP’s uphill battle, Ripple’s lingering SEC case continues to overshadow its gains. However, Trump’s pro-crypto agenda and possible leadership changes at the SEC may eventually ease regulatory pressures. On a brighter note, Ripple’s expansion into stablecoins like RLUSD and possible Central Bank Digital Currency (CBDC) partnerships are long-term plays that might benefit XRP.
So, can Ripple realistically aim for $5 amid this post-election hype? Without immediate catalysts, XRP’s short-term climb to this target seems unlikely. On the other hand, JetBolt (JBOLT) is making waves of its own with its cutting-edge technology and presale success, reeling in crypto enthusiasts and whales alike.
JetBolt’s Zero-Gas Tech: Fueling the Future of dApps and Blockchain
Launched on the Skale Network, JetBolt (JBOLT) is shaking up the crypto world with its groundbreaking zero-gas technology. By eliminating gas fees, JetBolt unlocks new possibilities for innovation across sectors like dApps, blockchain, SocialFi, and Web3, setting a new standard for usability in the altcoin space.
This revolutionary feature isn’t just about saving costs—it’s about enabling a more inclusive, expansive ecosystem where blockchain technology can thrive across various applications, from social media platforms to gaming and beyond.
Apart from zero-gas transactions, JetBolt brings other powerful features to the table. Its AI-powered crypto tool keeps users updated with the latest market trends, helping them stay ahead of the ever-evolving landscape. On top of that, JetBolt’s easy-to-earn staking system adds a social layer to traditional staking, one where social engagement is met with tangible rewards.
The buzz around JetBolt’s presale is equally electric, thanks to its daily price increases, with over $525,000 in JBOLT tokens already sold since August. Early supporters looking to maximize their holdings from day one are also flocking to secure the special Alpha Boxes, which are exclusive presale packages that grant up to 25% extra JBOLT tokens for batch purchases.
As JetBolt continues to build momentum, it’s clear that this next-gen altcoin isn’t just another entrant in the crypto market—it’s a bold new contender redefining what users expect from blockchain technology. Will JetBolt’s zero-gas revolution and game-changing features make it the breakout star of 2024? Only time will tell just how far JetBolt will go.
Conclusion: Ripple’s Uncertain Path and JetBolt’s Rising Momentum
With Ripple’s XRP facing an uncertain path to break past the $5 mark, questions linger on whether post-election hype will be enough to fuel a substantial rally. As legal battles and resistance levels continue to keep XRP under pressure, the community remains cautious yet hopeful. Meanwhile, JetBolt (JBOLT) is stealing the spotlight with a wildly successful presale and innovative technology. With JetBolt’s unstoppable traction, the crypto market stays seated—eager to see what’s next for this new yet revolutionary altcoin.
Learn more about JetBolt and its exciting features by visiting its:
Remember, this article is not to be considered financial advice. Any and all cryptocurrencies are highly volatile, so readers should conduct their own research and consult a qualified expert before jumping into any crypto venture. Always trade responsibly.
JetBolt’s (JBOLT) presale just crossed the $526,000 mark this month, with both crypto whales and early adopters diving in. As an emerging token, JetBolt unveils a fully operational platform featuring powered by the Skale Network.
By eliminating gas fees, JetBolt creates a streamlined environment for developers and users alike. It enables the seamless creation of dApps, Web3, SocialFi, and blockchain gaming projects without the typical high gas costs, paving the way for wider participation and adoption.
Beyond zero-gas technology, JetBolt offers a cutting-edge AI-driven tool that delivers Web3 news and trending coins. Additionally, JetBolt’s staking mechanism, conveniently accessible through its native Web3 wallet, rewards active participants, creating an engaging ecosystem where staking translates to earnings with each interaction.
JetBolt has introduced exclusive presale perks, including instant self-custody of tokens and daily price increases. Additionally, JetBolt is offering Alpha Boxes, which reward batch token buyers with up to 25% more JetBolt tokens.
At press time, JetBolt is making waves with its groundbreaking ecosystem with over $526,000 in presale revenue. It is a herculean feat for an emerging altcoin, offering a fresh blockchain experience that could make JetBolt the best crypto to buy in 2025.
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