Market
DOGE Price Up, but Others Falter
This week, most meme coins took a breather compared to October’s eventful trends, with Dogecoin (DOGE) leading the pack. However, other meme coins didn’t fare that well.
AI-themed Goatseus Maximus (GOAT) and hippo-inspired Moo Deng (MOODENG) both experienced double-digit declines, diverging from Dogecoin’s uptrend. Here’s a breakdown of what happened and what might be next for these coins.
Dogecoin (DOGE)
On October 26, Dogecoin’s price was $0.13. But this week, the meme coin’s value climbed by 20% and currently trades at $0.16. Dogecoin’s rally can be attributed to multiple factors, including rising demand and large investor accumulation. However, Elon Musk’s post on X (formerly Twitter) on Monday gave the upswing an extra boost.
In the post, Musk, who has been supporting DOGE for some years, shared a picture of him and a “muscular” Dogecoin. As soon as that happened, Dogecoin’s price rallied from $0.14 to $0.16 within a few hours.
While the coin eventually reached $0.17, the recent Bitcoin (BTC) retracement helped pull the price back. From a technical standpoint, Dogecoin has formed a bullish flag on the 4-hour chart.
A bullish flag pattern suggests that an asset’s price may continue to rise in the near term. This pattern forms after a strong upward movement, followed by a slight consolidation, and signals the potential for further gains if the upward trend resumes.
Read more: Best Crypto Exchanges With the Lowest Trading Fees
As seen above, DOGE is on the brink of breaking out from the consolidation phase (flag). Once validated, the meme coin’s price might climb to $0.18. In a highly bullish scenario, Dogecoin might climb to $0.20.
On the other hand, a breakdown below the flag could invalidate this thesis. In that scenario, DOGE could decline to $0.14.
Goatseus Maximus (GOAT)
Unlike Dogecoin, Goatseus Maximus saw a double-digit decline this week despite trending for several weeks. This drop could be tied to waning demand as the AI-themed meme coin narrative cools off. Earlier, during the peak of this trend, GOAT’s price surged, nearing a $1 billion market cap. The price at that time also got close to $1.
But as of this writing, GOAT has fallen nearly 30% since Monday. A look at the 4-hour timeframe, the Moving Average Convergence Divergence (MACD), which measures momentum, has fallen to the negative region.
This fall indicates that momentum around GOAT is bearish. As such, the price might continue to fall. Should that remain the case, then the meme coin’s value might sink to $0.34.
A rebound, however, could occur if buying pressure increases again. In that scenario, the MACD reading might turn positive, and GOAT’s price might rise toward $0.90.
Moo Deng (MOODENG)
Moo Deng also faced a significant dip this week, with its price down by 20% over the last seven days.
This drop might stem from a shifting focus in the meme coin market as traders move liquidity away from MOODENG toward other trending coins. As a result, MOODENG’s price has fallen below its 20 and 50-period Exponential Moving Averages (EMA).
When prices remain below these EMAs, it typically signals a bearish trend, contrasting with the bullish sentiment seen when prices hold above these levels. Should this remain the same, then the meme coin’s price might continue to decline.
Read more: 11 Top Solana Meme Coins to Watch in November 2024
If that happens, MOODENG might drop from $0.18 to $0.16. On the flip side, if demand for the meme coin rises, then this thesis might not come to pass. Instead, the token could beat the $0.20 resistance and climb to $0.24.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Exploring Hottest New Coins: FINE, CHILLGUY, and CHILLFAM
New coins such as FINE, launched three days ago, have seen their market cap reach $2.5 million. CHILLGUY, driven by TikTok hype, has amassed 120,000 holders and achieved $129 million in daily trading volume.
CHILLFAM, following in CHILLGUY’s footsteps, has quickly reached a $10 million market cap with a 300% price surge, showing the potential for continued interest in these emerging tokens.
This Is Fine (FINE)
FINE, launched on Pumpfun just three days ago and now graduated into Raydium, is attempting to capitalize on the growing trend of coins paired with animated video.
As of this writing, the coin boasts over 26,000 holders and a market cap of $2.5 million. However, it has experienced a steep decline, dropping more than 50%. If FINE can stabilize after this sharp drop, it may present an attractive entry point for traders eyeing a potential recovery.
FINE’s RSI is 35, indicating that it is approaching the oversold zone. This suggests that selling pressure may be reaching an extreme, potentially setting the stage for a reversal or bounce if buying interest returns. However, the current bearish momentum highlights the need for caution before expecting a recovery.
Just a chill guy (CHILLGUY)
CHILLGUY, a Solana-based meme coin that gained popularity through TikTok, has quickly risen to prominence in less than a week. The coin’s rapid adoption is evident in its impressive metrics, boasting over 120,000 holders and amassing 112,000 transactions per day.
The coin’s daily trading volume has surpassed $129 million, showcasing substantial market activity and strong interest from traders. This level of engagement highlights CHILLGUY’s potential to sustain its momentum if the hype continues to drive liquidity and participation.
CHILLGUY’s RSI sits at 52.3, indicating a neutral zone where neither buyers nor sellers have a dominant edge. This balanced sentiment suggests the market is stabilizing after initial volatility, leaving room for the token to move in either direction depending on future market activity and demand.
Chill Family (CHILLFAM)
CHILLFAM, inspired by the success of CHILLGUY, was launched just two days ago. With nearly 58,000 holders and a daily trading volume of $55 million, the token is gaining traction among meme coins enthusiasts on Solana.
Currently boasting a $10 million market cap, CHILLFAM has surged almost 300% in 24 hours, highlighting strong early interest. If it can maintain this momentum and sustain its $10 million market cap, the coin could potentially aim for $15 million or even $20 million.
CHILLFAM’s RSI is at 43, suggesting that the token is in a slightly bearish to neutral zone. This level indicates that the recent rally may be cooling off, providing a period of consolidation. If buying interest returns, it could reignite bullish momentum and push CHILLFAM toward higher valuations.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
XRP To Hit $40 In 3 Months But On This Condition – Analyst
XRP remains one of the crypto market’s current trailblazers rising by 23.21% in the past 24 hours. Over the last two weeks, the prominent altcoin has recorded a 154% price gain establishing itself as the sixth-largest cryptocurrency with a market cap of $89.82 billion. With this current momentum and the crypto bull season still in its early stages, analysts remain highly bullish on XRP’s potential to reach lofty price levels.
Can XRP Repeat 2017 Historical Price Movement?
In an X post on November 22, an analyst with the username CryptoBull stated that XRP could trade at $40 over the next three months if the token mirrors its first prominent price surge from 2017.
Data from CoinMarketCap shows that XRP rose $0.006 to a market peak of $0.33 in early 2017, representing a 5,400% gain. Considering its recent price rally, the altcoin may be gathering momentum to reproduce such price movement in a highly anticipated crypto bull run, especially considering recent happenings.
Most notably, popular anti-crypto Securities and Exchange Commission Chairman Gary Gensler recently announced his intentions to resign on January 20, a move largely behind the current bullish sentiment among XRP investors considering the Commission’s long-lasting regulatory battle with Ripple. In fact, Gensler’s decision to leave the SEC has been described as the “best thing” for Ripple, which holds significant weight for XRP’s future.
Gensler’s resignation coincides with the inauguration of pro-crypto incoming US President-Elect Donald Trump who has promised to introduce a more friendly approach to digital asset regulation in the US. Aside from XRP finally being free from the regulatory scrutiny of the SEC, the potential introduction of a spot ETF under Trump’s pro-crypto regime also contributes to bullish sentiments on the altcoin’s profitability.
According to CryptoBull, if XRP follows its price explosion from early 2017, the token is expected to hit a price target of $1.96 in November, $6.30 in December, and $40 in January.
Price Resistance Levels In XRP’s Dream Surge
While XRP presents much potential for a high price target, CryptoBull predicts the token to face significant resistance at the $1.96 price region. If buying pressure proves sufficient to move past this level, the analyst expects XRP to confront another resistance at $3.84 which represents the token’s current all-time high price.
Considering the current robust bullish sentiments in the market, the altcoin is likely to move past these highlighted resistance levels. However, the token’s Relative Strength Index remains far in the overbought zone (91.73) indicating significant potential for a price pullback.
At the time of writing, XRP continues to trade at $1.78 reflecting a 79.57% gain in the past week. Meanwhile, the token’s daily trading volume is up by 103.57% and valued at $20.29 billion.
Featured image from Trackinsight, chart from Tradingview
Market
Kraken Eyes Token Expansion as Trump Promises Crypto Support
Kraken, one of the leading cryptocurrency exchanges, has announced plans to list 19 new tokens, including a range of popular meme coins, and to integrate three additional blockchains.
This development has sparked optimism across the crypto industry, with many anticipating a more favorable environment for token listings under the incoming Trump administration.
Kraken Plans to List 19 Tokens and Integrate 3 Blockchains
According to its recently published tradeable asset roadmap, Kraken will add the Binance Smart Chain, dYdX, and Arweave blockchains to its platform. Each integration will include support for the native tokens of these networks.
“Kraken lists BNB,” Binance founder Changpeng Zhao stated.
In addition to these three, Kraken plans to list 16 other tokens, primarily meme coins. Some of the notable additions include FWOG, TRUMP, NEIRO, DOGS, GOAT, PNUT, MOODENG, and COW, alongside eight others. These tokens belong to blockchains already integrated into Kraken’s ecosystem.
However, the exchange clarified that listing plans are not guaranteed. Funding and trading for these tokens will only begin after an official announcement through Kraken Pro’s account on X. The company warned that Depositing tokens prematurely could result in losses.
Kraken’s planned token expansion comes at a time when the exchange is navigating legal challenges. The US Securities and Exchange Commission (SEC) has accused Kraken of operating an unregistered securities exchange and offering staking services in violation of federal laws. The exchange has been actively defending itself against these allegations.
Despite regulatory hurdles, crypto industry stakeholders are optimistic that the incoming administration will ease restrictions on token listings. Many believe President-elect Trump’s pro-crypto stance could pave the way for a more supportive regulatory environment. Expectations include a clear regulatory framework, the potential establishment of a Bitcoin reserve, and a departure from the SEC’s regulation-by-enforcement approach.
Already, major US exchanges are capitalizing on the growing market optimism to expand their token listings. Coinbase recently listed PEPE and FLOKI, leveraging the ongoing meme coin trend.
Similarly, Robinhood expanded its offerings by adding tokens that the SEC previously described as securities — XRP, Cardano, and Solana. These moves reflect a broader effort by exchanges to capture market momentum and cater to diverse investor interests.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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