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Dogecoin Price Eyes Rally to $1 As One Million DOGE Wallets Rising

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Amid the broader crypto market uncertainty, Dogecoin price has been showing strength flirting above the crucial support of $0.16 with increased address activity and heavy accumulation by DOGE whales. On-chain indicators and technical charts have both shown strength that could help the meme coin achieve new heights from here onwards.

Dogecoin Price Rally to $1 Begins?

Prominent crypto analyst Trader Tardigrade has highlighted a significant development in Dogecoin’s weekly chart. The latest candle closed as a doji, a pattern often interpreted as a signal of potential trend reversals.

Source: Trader Tardigrade

As shown in the above image, the trend reversal can lead to a Dogecoin price recovery all the way to $1 and beyond. Drawing comparisons to historical patterns, Trader Tardigrade noted that a similar doji formation preceded the last major surge in DOGE price.

The current chart formations in DOGE have led to growing trader optimism. As long the meme coin holds the support at $0.16, the chances of the uptrend remain intact. As of press time, the Dogecoin price is trading 3.05% up at $0.1675 with daily trading volumes jumping 13% to more than $1.06 billion. Also, as per the Coinglass data, the options trading volume has surged 31% to more than $96 billion. Some market analysts have also been predicting a parabolic DOGE rally to more than $20.

DOGE Address Activity Sees Huge Spike

Amid the strong correction in the meme coin sector over the past two months, the Dogecoin price has also been subject to 37% value erosion on the monthly chart. However, at the current support levels, DOGE is seeing a huge spike in address activity. Blockchain analytics platform Santiment highlights a promising trend: the number of wallets holding at least 1 million DOGE has been on the rise, even as prices declined.

Source: Santiment

Additionally, Dogecoin’s active addresses have surged, reaching their highest levels in four months. This uptick in activity suggests a renewed interest among holders and traders, signaling potential resilience for the meme coin in a challenging market environment.

Note that DOGE will need a boost from the overall crypto market in order to support the uptrend. Also, any positive development around Dogecoin ETF could serve as an additional catalyst for further momentum.

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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.





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Analyst Predicts XRP Price To Reach $20 With 18 XRP ETFs On The Horizon

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Crypto analyst Amonyx has predicted that the XRP price could reach as high as $20. The analyst alluded to the XRP ETFs, which could launch soon as the fundamentals that will spark such a parabolic rally for XRP.

XRP Price To Reach $20 With 18 ETFs On The Horizon

In an X post, Amonyx predicted that the XRP price could reach $20 while noting that eighteen XRP ETF filings have now been submitted to the US SEC. These include filings from asset managers such as Bitwise, Grayscale, 21Shares, Canary Capital, and WisdomTree, all of whom have filed to offer a Spot XRP ETF.

These XRP ETFs undoubtedly provide a bullish outlook for XRP, considering that these funds will drive institutional funds into the crypto’s ecosystem and ultimately spark a parabolic price surge, as Amonyx predicts.

A recent CoinGape market analysis also suggested that the Ripple price could rally to $20 if the US SEC approves the altcoin ETFs this year. The analysis indicated that approval of the ETFs could be a catalyst for XRP to break above the resistance levels at $5 and $10 as it rallies to this price target.

It is worth mentioning that crypto analyst Steph also recently predicted that XRP could reach $30. The analyst made this prediction based on historical patterns and technical indicators. He also revealed that the altcoin has broken above the neckline resistance, confirming a bullish double-bottom breakout.

Price Correction Is Over

In an X post, crypto analyst Dark Defender stated that the primary correction on the weekly, daily frame, and 4-hour structure is over for the XRP price. He warned that there would be more minor ups and downs but suggested that the worst was over. The analyst added that XRP has started Wave 1 with an aim of $5.85, which will mark a new all-time high (ATH) for the altcoin.

The analyst stated that the support levels are $2.30 and $2.22, while the major resistance levels are $3.39 and $5.85. He affirmed that the upcoming week would be fantastic, suggesting a price breakout could happen this week.

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Crypto analyst CasiTrades highlighted $2.70 and $3.05 as resistance levels to watch. She remarked that the XRP price would need to break above these targets for confirmation of the next wave up.

Meanwhile, although the analyst admitted that the altcoin is holding strong at the $2.25 support level, she warned that a break below could cause XRP to touch the lower support at $1.90 or even drop further to as low as $1.54.

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Despite this bullish outlook for XRP, legal expert Bill Morgan recently warned that the Ripple SEC case could still negatively impact the altcoin’s price. Without a settlement in place, the case could still create uncertainty, which would dampen investors’ confidence.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. 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, a traveler 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.





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Justin Sun Reveals Plan To Integrate TRX On Solana

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Barely days after disclosing that TRX will reach a new all-time high, Justin Sun is setting things in motion. The Tron founder has hinted at an incoming integration of TRX on Solana, sparking industry-wide speculation over the mode of deployment.

TRX Is Coming To Solana

In an X post, Justin Sun announced that TRX will be coming to Solana’s blockchain in the coming weeks. While the statement did not contain a timeline or clear details, TRX and Solana communities are lapping up the announcement with glee.

“TRX will be soon on Solana. Ready to buy and collaborate,” wrote Sun on X.

Pundits are predicting a cross-chain bridge to bring TRX to Solana, leaning on a custom solution or existing offerings. Another cross-section of analysts is tipping the use of a wrapped TRX into a SOL-native token as an alternative.

While other options are in play, a cross-chain bridge is considered the most viable option for Justin Sun. The move follows Solana’s bridged assets from Ethereum, surpassing $314 million in the last 30 days.

For both communities, the integration is seen as a win given their individual capabilities. For starters, Solana’s performance can bring Tron closer to the goal of eliminating fees for stablecoin transactions while Solana will record a spike in activity from TRX’s deep user pool.

Both Ecosystems Are Sizzling With Activity

While the announcement did not trigger a rally for both SOL and TRX, both ecosystems are a beehive of activity. Justin Sun previously expressed confidence of TRX hitting an ATH in the future with active addresses reaching 3 million.

Solana, on the other hand, is reeling from the ripples of its fifth anniversary as it moves on from the failure of the SIMD-228 proposal. In more dour ecosystem news, Solana took down an advertisement over gender identity themes, sparking widespread criticisms.

Despite the outrage, SOL price is staging a recovery following CME Group’s launch of SOL futures while Tron continues to rack up network fee revenues.

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Aliyu Pokima

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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Solana Faces Criticism—Removes Ad Following Backlash On Gender Identity

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

There is a lot of talk going on about Solana since a video promoting its upcoming Accelerate conference in New York came out.

The ad, which aired on March 17, was quickly taken down because it made fun of gender identity problems, sparking widespread criticism.

Ad Criticized For Insensitivity

The video depicted a character named “America” who was undergoing therapy; the character said he was having thoughts about “innovation.”

The therapist recommended that the subject concentrate on pronouns or the development of new genders rather than pursing technological innovation, like crypto, during the session.

“America” answered by stating a wish to “invent technologies, not genders.”

The look of disappointment from some individuals. Image: Gemini Imagen.

Critics have labeled the commercial as “offensive” and “tone-deaf,” some of which call it disrespectful to transgender and gender minorities.

Corporate executives voiced their criticism. Former Solana Foundation director David McIntyre argued that while Adam Cochran of Cinneamhain Ventures called the advertising “justly absurd,” the platform should have given positive messaging top priority over mocking important societal issues.

Sean O’Connor, operating chief at Web3 infrastructure firm Blocknative, did not mince words and unloaded an explicit message on X:

Controversy Casts Doubt On Solana’s Values

The controversy has prompted inquiries regarding Solana’s ability to adhere to its stated principles. Just weeks prior, the Solana Foundation underscored the importance of diversity and inclusion at a conference in Singapore.

SOL market cap currently at $63 billion. Chart: TradingView.com

Its code of conduct explicitly safeguarded participants from harassment based on gender identity and expression. Currently, observers are debating whether the advertisement represents a strategic transition or an isolated gaffe by the organization.

Solana has not yet issued an official statement that elucidates the reason for the video’s removal. Critics contend that the decision to eliminate it was reactive rather than indicative of ethical reflection.

Industry Leaders Withdraw Their Support

Subsequently, certain initial supporters of the advertisement withdrew their endorsements. Initially, Tushar Jain, co-founder of Multicoin Capital, commended the video as “bold.” However, he later deleted his post and acknowledged that it alienated certain members of the community.

This incident underscores the increasing tensions within the crypto industry regarding political messaging and cultural commentary.

Featured image from Gemini Imagen, chart from TradingView

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