Altcoin
Crypto Analyst Reveals Where The Dogecoin Price Top Is For This Cycle – It’s Much Higher
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
Crypto exchange giant Binance on Wednesday caused a stir across the broader market, revealing plans to remove specific BTC trading pairs from its platform. Notably, the crypto exchange revealed that it is delisting particular BTC pairs for C98, IDEX, FIS, MBOX, REN, and TKO crypto tokens. In the wake of this delisting announcement, market participants remain bearish as the mentioned coins’ prices slipped 1%-4%.
Binance Announces Removal Of These Coins’ Cross & Isolated Margin Pairs
In an official Binance announcement dated November 20, the crypto exchange revealed that it will remove certain Cross & Isolated margin pairs shortly ahead. Per the announcement, the exchange will delist the Cross margin pairs C98/BTC and IDEX/BTC on November 27 at 06:00 UTC.
Further, the isolated margin pairs C98/BTC, FIS/BTC, IDEX/BTC, MBOX/BTC, REN/BTC, and TKO/BTC are to be delisted on the same date and time. These removals have in turn sparked concerns over looming price dips for the assets as one of the top crypto exchanges reduces trade offerings for them.
Intriguingly, Binance further added that “effective immediately, users will no longer be able to transfer any amount of assets of the aforementioned pairs via manual transfers or ‘Auto-Transfer Mode’ into their Isolated Margin accounts.” Also, starting November 21 at 06:00 UTC, the exchange will terminate isolated margin borrowing on the abovementioned pairs.
Moreover, on November 27 at 06:00 UTC, the exchange will close all of the users’ positions and kick off the automatic settlement process while also canceling all pending orders on these pairs. However, it’s noteworthy that users can still trade the asset on the exchange’s spot trading platform. Overall, the delisting announcement has urged a bearish market sentiment across the broader space, as also seen by the mentioned coins’ intraday price action.
How Are The Tokens Performing?
At the time of reporting, C98 price waned 2% intraday and is now resting at $0.1459. The coin’s 24-hour low and high were $0.142 and $0.1518, respectively. Notably, the slumping action follows the abovementioned delisting announcement.
Furthermore, IDEX price dropped roughly 1% over the past day, reaching $0.04033. Its intraday low and peak were $0.03915 and $0.04354, respectively. Simultaneously, FIS price slipped 2% over the past day and is now trading at $0.3464. The coin’s 24-hour low and high were $0.332 and $0.3645, respectively.
MBOX price cracked 4% intraday and is currently sitting at $0.1875. The coin’s 24-hour low and high were $0.1814 and $0.1949, respectively. REN price also mirrored a bearish movement in the wake of the aforementioned announcement, down 6% to $0.04049. Its intraday low and high were $0.03936 and $0.04322, respectively.
Lastly, TKO price slipped 1% over the past day and is trading at $0.315. The intraday low and high were $0.3054 and $0.3247, respectively.
Notably, the coins could witness further slumping movements in light of the exchange’s discontinued support as it offers users reduced flexibility to traders and investors. Simultaneously, CoinGape Media reported that Binance delisted four other tokens last month, sparking similar concerns over slumping price action.
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-based meme coin BONK has been on a mega rally over the past week gaining another 12% today soon after listing on Korean crypto exchange Upbit. As a result, BONK price has shot up more than 12%, with its market cap shooting past $4.2 billion. Also, the daily trading volume has shot by a massive 77% moving all the way past $2.7 billion showing huge investor interest.
BONK Price Breakout After Upbit Listing
Earlier today, South Korea’s largest crypto exchange Upbit announced the launch of BONK’s Korean Won trading market. The listing will significantly boost trading volume for the meme coin driving BONK price even higher.
The South Korean exchange also announced that deposits and withdrawals are only supported through the guided network (BONK-Solana). Also, with Korean crypto investors having a greater appetite for meme coins and altcoins, this development could bode well for the entire BONK community.
Interestingly, this development came at a time when the South Korean crypto exchange is facing a probe over KYC violations. The Financial Intelligence Unit (FIU) has identified more than 500,000 instances of inadequate customer verification by Upbit.
The recent BONK price surge shows a strong breakout from its previous highs. Analysts predicts another 100% rally to take the BONK market cap to more than $10 billion.
What if BONK doesn’t slow down? pic.twitter.com/a4cOnb811p
— WebTrend (@WebTrendCo) November 19, 2024
Among the list of top meme coins, BONK ranks 4th currently. However, it might challenge the likes of Pepe Coin (PEPE) in the future.
BONK Whale Activity Skyrockets
Blockchain analytics platform Lookonchain has revealed significant activity from a well-known smart whale. It noted that a smart investor who previously earned a staggering $4.84 million profit from POPCAT, is now turning its attention to BONK.
Over the past two days, the whale has spent 3.4 million USDC stablecoin to acquire 65.4 billion BONK tokens. This signals the growing confidence in the meme coin’s potential to continue the BONK price rally further.
The smart whale who previously made $4.84M profit on $POPCAT is buying $BONK!
In the past 2 days, he has spent 3.4M $USDC to buy 65.4B $BONK.https://t.co/Or4O9Xx6TQhttps://t.co/57q50iJD1Zhttps://t.co/HPIpN8u1PZ pic.twitter.com/5lnUCBuEPZ
— Lookonchain (@lookonchain) November 20, 2024
BONK price currently trades at $0.0000559, with a 24-hour high and low of $0.00004882 and $0.00005916, respectively. With today’s rally, BONK has already extended its weekly gains to more than 75%. It competes with 53% weekly gains by Pepe coin as its trading activity surged to eight-month highs.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
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 Prices Today, November 20: The crypto market experienced mixed sentiment as Bitcoin touched $94K intraday, marking a new all-time high, before settling above $92K. Major altcoins showed negative sentiment, with declines of 2-3% over the last 24 hours. Meanwhile, GOAT and BONK emerged as top gainers, surging 8-13% in the same period.
The global crypto market cap dropped by 0.3% in the past day, standing at $3.07 trillion. Total trading volume reached $179 billion, reflecting a 10% decline from the previous day.Here’s a look at some leading cryptocurrencies by market cap and their price movements today.
Crypto Prices Today: BTC Hits $94K ATH While SOL, ETH, and XRP See Declines
Bitcoin touched an all-time high of $94K in intraday trading today before facing a rejection, currently holding above $92K. GOAT and BONK led the market, posting impressive gains of 8-13% over the last 24 hours. Major altcoins experienced slight turbulence, with most trading 2-4% lower. Meme coins showed mixed sentiment; DOGE rose by 1%, while SHIB dropped 3% in the same period.
Bitcoin Price Today
Bitcoin price is up by 0.5% over the last 24 hours, currently trading at $92,050. The coin’s intraday low and high are $91,059 and $94,002, respectively. BTC’s market cap stands at $1.81 trillion with a 24-hour trading volume of $75 billion, reflecting a market dominance of 59.21%.
According to sosovalue, daily inflows have reached $600 million, although data from BlackRock and Grayscale is yet to be updated. The debut of Bitcoin ETF options on Nasdaq, including BlackRock’s iShares Bitcoin Trust ETF (IBIT), has sparked a surge in demand. This pivotal development offers investors new tools for hedging risks and managing exposure to Bitcoin’s price fluctuations.
Ethereum Price Today
Ethereum is down by 2.33% in the last 24 hours, currently trading at $3,087. The 24-hour low and high for ETH are $3,070 and $3,160. With a market cap of $371.5 billion and a 24-hour trading volume of $28 billion, Ethereum holds a market dominance of 12.51%, making it the second-largest cryptocurrency in the world. The price decline is also reflected in Ethereum ETFs, with a daily outflow of $67 million, though BlackRock and Grayscale’s inflow data is awaited.
Solana Price Today
Solana is currently trading at $232, showing a 4.5% decline over the last 24 hours. The 24-hour low and high for SOL are $231 and $247, respectively. With a market cap of $110 billion, Solana ranks as the fourth-largest cryptocurrency in the world. Its 24-hour trading volume stands at $6.87 billion, with a market dominance of 3.61%.
XRP Price Today
XRP is currently trading at $1.08, reflecting a 4% drop in the last 24 hours. The 24-hour low and high for XRP are $1.0738 and $1.138, respectively. XRP’s 24-hour trading volume is $5.74 billion, with a market dominance of 2%. On a positive note, XRP whales moved 210 million coins, sparking rumors of a partnership with Cardano.
Meme Crypto Prices Today
Dogecoin price saw a gain of approximately 1.3%, currently trading at $0.38. Its 24-hour low and high are $0.3767 and $0.4183, respectively. On the other hand, Shiba Inu (SHIB) is down by 3% in the last 24 hours, now trading at $0.00002404. Its 24-hour low and high are $0.00002409 and $0.00002601, respectively.
Top Crypto Gainers Prices Today
Goatseus Maximus
Goatseus Maximus is currently up by 12%, trading at $1.20. Its 24-hour low and high are $0.9988 and $1.231, respectively.
BONK
BONK is trading at $0.00005609, reflecting a 10% increase in the last 24 hours. Its 24-hour low and high are $0.00004847 and $0.00005768. The market volume stands at $4.23 billion.
UNUS SED LEO
UNUS SED LEO (LEO) is currently trading at $8.50, showing a 9% increase over the last 24 hours. The 24-hour low and high are $7.73 and $8.50, with a market cap of $7.85 billion.
Top Crypto Losers Prices Today
Hedera
Hedera (HBAR) is currently trading at $0.1258, reflecting a 16% decrease over the last 24 hours. Its 24-hour low and high are $0.1241 and $0.1561, respectively, with a market cap of $4.69 billion.
Akash Network
Akash Network (AKT) is currently trading at $3.813, showing a 12.7% decline in the last 24 hours. The 24-hour low and high are $3.779 and $4.494, respectively.
The hourly time frame charts show a positive trend with BTC up by 0.02%. However, ETH has experienced a slight decline of 0.1% during the same period.
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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