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Dogecoin Whales Bag 311M DOGE Sparking Optimism Over $0.4 Target Ahead
Dogecoin whales took the broader crypto market by storm on Monday, heavily accumulating tokens amid a bull run taken by the dog-themed meme crypto. On-chain stats indicate that over 300 million coins were withdrawn from crypto exchanges recently, sparking investor optimism surrounding the coin’s future price movements. DOGE price currently trades at the $0.2 level, with market watchers anticipating a potential $0.4 target looming over the horizon.
Dogecoin Whales Accumulation Rises Sparking Market Optimism
According to the data revealed by blockchain tracking platform Whale Alert on November 11, Dogecoin whales sacked 311 million coins from crypto exchanges over the past day. Per the data, the whale address DGm..dUB withdrew 200 million coins, worth $56.38 million, from the crypto exchange Binance. Further, the whale address DGG..X5S bagged 111 million coins, worth $30 million, from the crypto trading division of Robinhood. Overall, these massive accumulations, underscoring increased market confidence in the asset, set off bullish sentiments for the token across the broader industry.
Simultaneously, on-chain data by the tracker also revealed that a dormant DOGE whale woke up after roughly 11 years of dormancy, adding to the intrigue surrounding the asset’s performance. However, it’s also noteworthy that whale data spotlighted considerable whale dumps for the same token today. Notably, on-chain data flagged 98 million coins dumped to Binance & Robinhood via a series of two whale transactions recently, which also rationalizes why Dogecoin price fell sharply for a brief moment today.
Can Doge Price Hit $0.4?
Nevertheless, the massive accumulations have undermined the dumps, fueling an optimistic market sentiment for the meme coin among investors. At the time of reporting, DOGE price traded at $0.2793, up nearly 21% over the past day. The token’s 24-hour low and high were $0.2288 and $0.3011, respectively. The crypto’s rising price action aligns with the significant buying pressure brought by the Dogecoin whale accumulations mentioned above.
Moreover, the dog-themed meme coin’s intraday trading volume soared 222% to $18.60 billion, underlining increased trader interest in the asset. Coupled with the massive accumulations mentioned above, this stat projects a bullish outlook for the meme coin. Also, the weekly chart underscored 84% gains for the crypto, flagging a bull run.
Simultaneously, a recent Dogecoin price analysis by CoinGape Media indicates that wallets holding between 100 million and 1 billion coins have significantly increased their accumulation. This data further flags increased market confidence in the asset. Moreover, the analysis draws attention toward a cup and handle pattern on the price chart, accounting for a 53% potential surge ahead. This could aid the token in hitting the much-awaited $0.4 price level, aligning with the increased buying pressure in the market.
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.
Altcoin
Dogecoin Eyes Parabolic Rally To Price Discovery, Is The 16,000% Surge From 2020 Possible This Time?
The Dogecoin price is again eyeing a parabolic rally that will put the meme coin in price discovery and send it to new highs in this market cycle. Crypto analyst Mikybull Crypto indicated that the Dogecoin price could replicate its 16,000% surge from 2020 as it enters price discovery.
Dogecoin Eyes Parabolic Rally To Price Discovery
In an X post, Mikybull Crypto stated that DOGE’s massive parabolic rally to price discovery is loading. The analyst remarked that the entry into price discovery is interesting, as the Dogecoin price rallied more than 16,000% in 2020 when it broke above the Relative Strength Index (RSI) 70 level.
In line with this, Mikybull Crypto stated that the $1 to $3 range remains a target for the Dogecoin price in this bull run. The analyst also recently suggested that DOGE could rise to as high as $4 based on the alignment of the Fibonacci levels with DOGE’s performance after the last Golden Cross.
Crypto analyst Master Kenobi also recently stated that the Dogecoin price could rise to as high as $2 in this market cycle. He believes this would happen through the rapid flow of capital and frenzy in the market. Interestingly, the analyst made this prediction while raising the possibility of DOGE flipping Solana and BNB to become the third-largest crypto by market cap.
Meanwhile, the analyst also suggested in a recent analysis that DOGE would make its way into price discovery soon enough. This came as he highlighted a 91-day sequence, which Master Kenobi noted DOGE was 20 days away from completing. He predicted that DOGE could rally to as high as $1 between now and then. Specifically, he put December 2 as the timeline for when the target could be achieved.
Crypto analyst Dj Anas also recently predicted that the Dogecoin price could reach $1 by year-end. He made this prediction based on the Fibonacci levels, which he claimed supported a parabolic rally to this target.
DOGE Could Witness A Correction First
Amid these bullish predictions for the Dogecoin price, crypto analyst Kevin Capital has suggested that DOGE could witness a correction first before it goes into price discovery. In an X post, the analyst highlighted a symmetrical triangle and said there is a 50/50 chance of a price breakout or breakdown.
However, he remarked that he still favors a correction due to the daily RSI being above 90, which suggests that the meme coin is currently in overbought territory. The analyst had previously predicted that Dogecoin could drop to as low as $0.26 following a price correction.
At the time of writing, the Dogecoin price is trading at around $0.39, up over 7% in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
Altcoin
Binance Launchpool To List Usual (USUAL) With Pre-Market Trading
Binance Launchpool has recently announced the listing of Usual (USUAL) on its platform, sparking market optimism. The launch of the listing will offer users an opportunity to farm the tokens. The exchange will begin the farming process, allowing users to lock their BNB and FDUSD to earn USUAL rewards.
Binance Launchpool to Feature USUAL
Binance Launchpool has announced that it will list USUAL starting November 14. This announcement marks the launch of Usual, a decentralized fiat-backed stablecoin, with pre-market trading to begin on November 19. The exchange users can lock their BNB and FDUSD to farm USUAL tokens, receiving rewards over four days.
The USUAL token will be paired with USDT for pre-market trading, allowing users to trade the token once the pair goes live. The farming of USUAL tokens will begin as users participate in Binance’s Launchpool offering.
Each user will have a maximum holding limit of 40,000 USUAL tokens, with a total token supply of 4 billion USUAL. Of that, 300 million tokens 7.5% will be allocated for Launchpool rewards. This initiative is a significant step in expanding the exchange’s role in the decentralized finance (DeFi) space.
However, users from certain countries, such as the United States, Canada, Japan, and North Korea, will not be eligible to participate. Binance has stated that KYC verification is required for those looking to farm USUAL tokens.
BNB Ecosystem And Market Performance
The listing of Usual on Binance Launchpool marks a new chapter in the DeFi space, offering a decentralized fiat-backed stablecoin. This launch comes at a time when meme tokens like ACT and PNUT have witnessed impressive price surges after their listings, indicating strong market interest in new projects.
BNB Price is currently trading at $634, with a 24-hour low of $605 and a high of $659. The coin has seen a 5% increase in the past 24 hours, a 6.8% rise over the last week, and a 7.6% gain in the last month.Its 24-hour trading volume stands at $3.7 billion, demonstrating robust demand.
The global crypto market is experiencing a bullish trend. Additionally, the recent US election victory by Donald Trump has sparked optimism among Bitcoin supporters. Binance founder CZ’s new initiative, Giggle Academy, is also gaining attention. The project aims to educate users in key target countries.
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.
Altcoin
Binance Expands Offerings For ACT, PNUT, NEIRO Sparking Optimism, What’s Next?
In an effort to further uplift market sentiment, leading crypto exchange Binance announced on Thursday that it is expanding offerings for three tokens. The crypto exchange revealed that it is listing new pairs for The AI Prophecy (ACT), Peanut The Squirrel (PNUT), and First NEIRO on Ethereum tokens, sparking investor curiosity. Meanwhile, the listed coins’ prices soared 3%-32%, signaling that the broader market reacted positively to the listings announcement.
Binance Lists ACT, PNUT, & NEIRO Echoing Market Optimism
According to an official Binance announcement dated November 14, the crypto exchange is expanding offerings for the aforementioned tokens starting November 15 at 08:00 UTC. Per the listing announcement, the exchange is adding The AI Prophecy in FDUSD and USDC trading pairs. Further, the crypto exchange is also adding NEIRO in the USDC trading pair.
Simultaneously, the crypto exchange’s announcement revealed that Peanut The Squirrel will be added to the spot trading platform in BTC, FDUSD, and USDC trading pairs on the same date and time. Also, the leading crypto exchange highlighted that it will enable spot Algo Orders for ACT in FDUSD and USDC pairs, NEIRO/USDC, and PNUT in BTC, FDUSD, and USDC pairs. Overall, the announcement reverberated substantial market optimism over the listed coins’ price movement amid a bullish crypto market.
How’s The Current Market Sentiment For Listed Coins?
At the time of reporting, NEIRO price soared 3% over the past day and is now trading at $0.002479. The coin’s intraday low and high were $0.002285 and $0.002749, respectively.
Simultaneously, The AI Prophecy price gained 9% intraday to rest at $0.7519. Its 24-hour low and peak were $0.542 and $0.942, respectively.
Additionally, Peanut The Squirrel price witnessed gains worth 32% over the past day to rest at $1.88. The token’s intraday low and high were $1.28 and $2.47, respectively.
Overall, the bullish price trajectories fall in line with Binance’s listing announcement. Notably, CoinGape Media previously reported ACT price to have soared 1300% and PNUT 250% in light of the same exchange’s previous spot listings and Elon Musk’s X post, which has fueled market speculation.
Meanwhile, NEIRO price witnessed a whopping 115% surge with its listing on major exchanges. Altogether, these past chronicles underscore the listed tokens’ potential to offer further gains in the market.
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.
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