Altcoin
Dogecoin to Hit $4 As Elon Musk Says “D.O.G.E. Has Real Potential”
American billionaire Elon Musk’s statement Saturday caused a stir across the broader crypto market. Dogecoin saw a spike in bullish sentiment spike as Musk said, “Starting to feel like The DOGE has real potential” on Department of Government Efficiency (D.O.G.E). However, DOGE price continues to move sideways after it rallied more than 200% in a month.
Elon Musk Sparks Dogecoin Optimism With D.O.G.E Post
In an official X post on November 16, Elon Musk sparked substantial market discussions with his optimistic sentiment for the Department of Government Efficiency. Notably, following the Tesla & SpaceX lead’s appointment as the head of the mentioned the government department alongside V. Ramaswamy, this statement did not come as a surprise to the nationwide masses.
The Department of Government Efficiency stands to bring a major reform in the United States government, per the body’s X handle. Meanwhile, it’s noteworthy that Musk’s appointment as the entity’s head comes in the aftermath of the re-election of Republican Donald Trump as the 47th president of the U.S.
Overall, the announcement gained significant traction across the industry as Musk has previously strongly advocated Dogecoin, bringing attention to the government department named after it. In turn, the top dog-themed meme coin garnered significant attention in light of the statement, followed by another unprecedented optimistic development.
The Dogecoin lawsuit against Elon Musk was recently withdrawn by investors, adding to market optimism on the meme token. For context, the lawsuit alleged that the Tesla and SpaceX lead manipulated the meme coin’s price for personal gains. Nevertheless, with the odds tilting in favor of the billionaire, recent developments weigh considerable optimism on the meme token’s price movements.
DOGE Price Jumps
DOGE price witnessed gains worth 2% in the past 24 hours and is now trading at $0.3788. The coin’s 24-hour low and high were $0.3545 and $0.3899, respectively. Intriguingly, the coin’s rising movement amid Musk’s statements has sparked substantial investor curiosity. Moreover, weekly gains for the token totaled 80%, underscoring a bull run.
Simultaneously, Coinglass data showed that the coin’s futures OI soared 11% intraday to reach $3.02 billion. It signals increased investor interest in the Dogecoin amid a bullish crypto market. Overall, market watchers continue to extensively eye the token anticipating future gains.
Moreover, popular crypto market expert Ali Martinez predicted Dogecoin price can hit $4. The bold forecast came on historical trends and bullish momentum in the crypto market triggered by Donald Trump and Musk.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
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.
Crypto whales continued to remain bullish on newly listed tokens on Binance — Peanut the Squirrel and Goatseus Maximus. On Saturday, a whale withdrew $7.12 million worth of PNUT from Binance today as the price rallied 2000% in a week. Alongside this, the whale also holds GOAT, which has risen 60% in the past week. The whale activity signals growing interest in meme coins.
Crypto Whale Accumulates PNUT Worth Millions
According to Solscan, a crypto whale withdrew 3.848 million PNUT from Binance to a personal address on November 16. The total value of this transfer was $7.12 million, attracting attention as crypto whales often indicate upcoming market movements. PNUT price has skyrocketed a massive 2000% over the week.
In addition to PNUT, the whale made another notable move with GOAT recently. The trader spent $6.1 million to buy 10 million GOAT tokens at an average price of $0.61. GOAT, which has recently seen a 60% surge, has now increased by 90% since the whale purchase. The whale is currently sitting on a floating profit of $5.5 million from this investment.
This surge in PNUT and GOAT prices aligns with the broader rise in meme coins, particularly on the Solana blockchain. As PNUT continues to trade at an all-time high, its potential for further gains has captured the attention of crypto investors and traders alike.
Solana Meme Coins on the Rise
The rise of Ethereum-based meme coins has paved the way for a surge in Solana meme tokens this bull market. Solana meme coin sector is gaining momentum, with coins like ACT and PNUT hitting ATH.
Currently, PNUT trades at $1.85, boasting a 24-hour low and high of $1.63 and $2.17, respectively. Its weekly gain stands at 2000%, and it has surged by 3000% over the past month, with a 24-hour trading volume reaching $2.88 billion.
Meanwhile, Goatseus Maximus- GOAT, another Solana-based meme coin, is also riding this bull market wave. Named after a viral tweet by @truth_terminal and supported by an AI bot, GOAT has rapidly gained traction within the crypto community. Trading at $1.155, GOAT price is projected to hit $5. The 24-hour low of $0.899 and a high of $1.26. Over the last week, it has increased by 52%, and it’s up by 300% over the month, with a daily trading volume of around $593.36 million.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
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.
Solana meme coin SLERF price noted a staggering 56% uptick on Saturday, gaining massive attention from investors. Notably, recent reports indicate that the meme coin whales and market makers are shifting their focus towards the crypto, which may have contributed to the recent gains.
Besides, the soaring trading volume and other on-chain metrics also indicate further rally ahead for the asset.
SLERF Price Rallies Amid Soaring Buying Pressure
According to recent market trends, the top Solana meme coins appear to have witnessed considerably increased buying pressure in the market. Amid this, Arkham data indicates that the market maker Wnitermute bagged $940,000 worth of SLERF from the Asian crypto exchange OKX a few days ago. The massive buying pressure with this purchase aided the token in taking a bullish trajectory over the past few days. Furthermore, two whales were recorded to make massive accumulations, adding to investor optimism about the asset.
As per on-chain data, the whale address 3.15 spent 4642 SOL to bag 2.35 million SLERF, worth $1.02 million, at an average cost of $0.4325. In addition, the address AkxGU…wfyqW spent 1.03 million USDC to buy 2.52 million coins, at the price of $0.4103. Overall, the abovementioned whale data underscored heightened market interest in the asset, paving a bullish path for the Solana meme coin’s future movements.
The Solana Meme Coin Rockets 60%
SLERF price noted gains worth 56% in the intraday to trade at $0.4240. Its 24-hour low and peak were $0.2616 and $0.4544, respectively. Notably, the token’s intraday trading volume surged 116% to $228.55 million in light of the massive buying.
Coinglass data indicated that the Solana meme coin’s futures OI witnessed a 72% uptick to $22.05 million. Further, the derivatives volume also soared 133% to $157.28 million. This data underlines increased investor interest, further escorted by the massive whale buying, sparking optimism on future movements. Crypto market participants anticipate additional gains in the token as no massive selloffs have been recorded yet, which could cause downside pressure on the asset.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
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 renowned dog-themed meme crypto SHIB continues to steal the spotlight amid a highly bullish market, further solidifying market optimism with a massive Shiba Inu burn rate surge on Saturday. Recent statistics indicate that the meme coin’s weekly burn rate soared nearly 450% in the wake of over 600 million coins burnt in the past seven days. In turn, crypto market enthusiasts speculate whether a parabolic bull run for the toke lies ahead as the broader sector remains highly bullish in Q4.
Weekly Shiba Inu Burn Rate Soars As 624M Coins Destroyed
According to an X post by the official Shibburn X handle on November 16, the weekly Shiba Inu burn rate witnessed a remarkable 464% uptick as 624.5 million tokens tokens were burned over the past seven days. The remarkable surge has dealt a significant blow to the meme coin’s total supply in the market.
The latest data by the tracker’s X handle pointed out that Shiba Inu’s current market supply totaled 589.262 trillion coins. For context, the meme coin’s burn mechanism aids the broader ecosystem in killing the token supply, a bullish factor per the law of supply and demand. This chronicle has garnered noteworthy optimism toward the meme coin’s future price movements.
Meanwhile, a recent CoinGape Media report further spotlighted the Ethereum-based token’s potential to offer investors gains. Reportedly, amid the coin’s recent bull run, a crypto whale netted millions in profit trading SHIB. This saga has added to why the token caught the market’s attention, accompanied by its remarkable burn rate surge.
SHIB Price Eyes Parabolic Rally Ahead?
Simultaneously, SHIB price today added nearly 6% intraday and is now sitting at $0.0000251. The crypto’s 24-hour low and high were $0.00002319 and $0.00002596, respectively. The token’s market cap rested at $14.78 billion today. This rising action falls in line with the abovementioned Shiba Inu burn rate surge.
Meanwhile, it’s also noteworthy that the rising price action aligns with the broader meme coin frenzy witnessed at present. Dogecoin, Pepe Coin, and Dogwifhat extend weekly gains to 61%-101%, further underscoring a bullish meme crypto market. In light of this bull market, the token’s lead developer, Shytoshi Kusama, also took to X, stating, “LFGOOOOO!!!!!” This statement has added to market intrigue as the dog-themed meme coin reflects immense optimism.
Additionally, a recent Shiba Inu price analysis by CoinGape Media indicated that the token mirrors historical patterns that indicate potential parabolic price gains lie ahead. Market watchers remain highly bullish on the crypto’s future performance.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
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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