Altcoin
40,000 Ethereum Withdrawn From Derivativees, Mpeppe Joins Altcoin Surge As ETH Whales Join Pump
The cryptocurrency market is no stranger to volatility, and Ethereum (ETH) has been at the center of it. Recently, Ethereum (ETH) whales have been quiet, leading to price stagnation, but the latest developments suggest that we might see a change. A large withdrawal of 40,000 ETH from derivatives platforms has drawn attention, signaling a potential rally. At the same time, Mpeppe (MPEPE), a decentralized casino project, is making waves in the altcoin space, attracting significant interest from ETH whales.
Ethereum Whales Quiet Since July: A September Comeback?
Since July, Ethereum (ETH) whales, who have historically influenced ETH’s price, have reduced their activity. On-chain data shows that addresses holding over 10,000 ETH have been either selling or redistributing their holdings, contributing to Ethereum (ETH)’s sluggish price performance. Between early July and mid-August, Ethereum (ETH) experienced a price surge from $2,930 to $3,485. However, ETH struggled to break through the $3,500 resistance level.
The inactivity of ETH whales has caused Ethereum (ETH) to trade sideways, hovering around $2,300 in early September. While many have speculated that Ethereum (ETH) could face a prolonged downtrend, the arrival of September, a month often associated with increased volatility, could signal a change. The big question is whether these whales will resume buying as the market approaches October, a month known for bullish trends in crypto markets, often referred to as “Uptober.”
Mpeppe (MPEPE) Joins Altcoin Surge: A Rising Star
While Ethereum (ETH) faces uncertainty, Mpeppe (MPEPE) is rising as a star in the altcoin space. Mpeppe (MPEPE), a decentralized meme coin with a twist, combines the fun of a meme coin with real utility—its decentralized casino platform. This unique combination has made Mpeppe (MPEPE) an attractive investment for both casual gamblers and serious investors.
Built on the Ethereum (ETH) blockchain, Mpeppe (MPEPE) allows users to stake tokens, gamble in a transparent and decentralized environment, and earn rewards. The platform’s provably fair games, recorded on the Ethereum (ETH) blockchain, offer users a secure way to participate in online gambling, a space traditionally dominated by centralized platforms.
Mpeppe (MPEPE)’s recent surge of 121% in value has caught the eye of ETH whales looking to diversify their portfolios. As ETH whales anticipate a potential recovery in Ethereum (ETH)’s price, many are also turning to Mpeppe (MPEPE) for more immediate gains, making it one of the standout projects in the altcoin rally.
Ethereum’s Network Growth and Price Predictions
Despite the inactivity of ETH whales, Ethereum (ETH) has seen a surge in network activity. On September 9, Ethereum (ETH) experienced the creation of over 126,000 new wallets, marking the highest level of network growth in nearly four months. This sudden spike in wallet creation pushed Ethereum (ETH)’s price briefly back up to $2,300, signaling increased demand for the asset.
However, this surge in user activity may be short-lived, as the number of new wallets has since fallen to around 30,400. This decline suggests that Ethereum’s price boost may not be sustainable in the short term. On the retail side, analysts have identified key resistance levels for Ethereum (ETH) at $2,384, $2,278, and $2,149, suggesting that Ethereum (ETH) could struggle to break through these barriers without renewed whale activity.
Currently, the Balance of Power (BoP) indicator shows stronger selling pressure, which could lead to a reversal of Ethereum (ETH)’s recent gains. If sellers continue to dominate, Ethereum’s price could fall to $2,278, with further selling pressure potentially pushing it down to $2,149.
However, this outlook could quickly change if ETH whales resume significant buying. A renewed interest from these large holders could trigger a rally that pushes Ethereum (ETH) toward the $2,645 mark. Investors are keeping a close eye on whale activity, knowing that a sudden surge in buying could reverse Ethereum’s current downtrend.
Mpeppe’s Role in the Altcoin Rally
As Ethereum (ETH) whales consider their next move, many are looking at Mpeppe (MPEPE) as an exciting opportunity to diversify their holdings. The recent 40,000 ETH withdrawal from derivatives platforms suggests that whale investors may be preparing for a significant move, and Mpeppe (MPEPE) is emerging as one of the leading contenders in the altcoin market.
Mpeppe (MPEPE)’s decentralized casino platform, combined with the viral appeal of meme coins, makes it a unique and attractive project in the current market. As Ethereum (ETH) struggles with price resistance, Mpeppe (MPEPE) offers ETH whales a chance to invest in a project with high growth potential, both as a speculative investment and a utility-driven platform.
With Mpeppe (MPEPE)’s launch on Uniswap, ETH whales and retail investors alike are flocking to the platform, eager to take part in its decentralized gambling ecosystem. The combination of fun, financial rewards, and transparency has positioned Mpeppe (MPEPE) as a key player in the altcoin rally.
Conclusion: Ethereum Whales and Mpeppe’s Bright Future
While Ethereum (ETH) has faced price stagnation in recent months, the latest developments suggest that whale activity may soon pick up, potentially leading to a price rally. At the same time, Mpeppe (MPEPE) is riding the altcoin surge, attracting attention from ETH whales and retail investors alike.
As Ethereum continues to face resistance at key levels, Mpeppe’s decentralized casino platform offers a unique alternative for investors looking to capitalize on the altcoin rally. With its fun and functional approach, Mpeppe (MPEPE) is well-positioned to be one of the standout projects of 2024, making it a must-watch for both Ethereum holders and new investors.
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The Dogecoin price has entered another stage of bullish momentum that has reignited inflows from traders. Notably, the DOGE price has surged by about 16.3% over the past 24 hours. This surge has brought into focus the possibility of the DOGE price reaching a new all-time high this year.
Interestingly, a crypto analyst on the social media platform X has highlighted a bullish fractal that could push the Dogecoin price on a parabolic run.
Dogecoin Fractal Points To New ATH
Master Kenobi shared his analysis of the Dogecoin price action on X. In his post, Kenobi outlined a fractal setup, suggesting that DOGE is on the verge of a significant breakout. Kenobi attributed the fractal formation to the consolidation that began after the DOGE price reached $0.43
A bullish fractal is a pattern that suggests an upward reversal in price. This pattern, which occurs during price consolidations, is characterized by a middle bar that has the lowest low, flanked by higher lows on each side.
Kenobi’s analysis was accompanied by a DOGE chart on the four-hour candlestick timeframe. The chart revealed that a similar fractal had occurred during the first week of November. At that time, Dogecoin was consolidating after an initial surge past the $0.20 mark. This consolidation phase, much like the current one, was marked by low volatility and steady accumulation. However, the November fractal ultimately resolved with an explosive 115% rally over six days.
Drawing parallels with the November setup, Kenobi predicted that the Dogecoin price could replicate this outcome and create a new all-time high in the next three days. In terms of a price target, a breakout would see the DOGE price reaching the $0.74 mark, which would put it above its current all-time high of $0.7316.
What’s Next For The Dogecoin Price?
The prospect of a new all-time high for the Dogecoin price is gaining ground with each passing day, especially with the price action in the past 24 hours. At the time of the analysis, the DOGE price was trading at $0.41. Interestingly, the Dogecoin price has surged to $0.46 at the time of writing, which indicates that the bullish fractal breakout has happened.
DOGE, which started November at $0.1616, is already up by about 230% in the past 30 days. Many on-chain data and price patterns point to a continued price increase, at least in the next few days and weeks. Ali Martinez, a popular crypto analyst, suggested that the Dogecoin price is in the middle of a bullish breakout to $0.82. If the price target is achieved, this would represent a further 78% gain from the current price.
Featured image created with Dall.E, chart from Tradingview.com
The crypto universe has concluded yet another week, primarily with riveting developments unfolding across the broader sector. Bitcoin (BTC) continues to pump, hitting a new ATH this week. Simultaneously, Ripple’s XRP garnered significant market attention, recording considerable gains. The broader market continues to leverage investor optimism post-U.S. elections that saw Donald Trump reelected as the president.
Here’s a brief collection of some of the top cryptocurrency market headlines that have significantly impacted investor sentiment over the past seven days.
BTC Hits New ATH Amid Bull Crypto Market
BTC price hit a new ATH near the $100K level this week, echoing a buzz across the broader sector. Notably, the flagship coin gained roughly 10% over the past week to hit an ATH of $99,655. Attributable to this bullish movement post-U.S. elections, Rich Dad Poor Dad author Robert Kiyosaki shared a bold prediction for the coin, anticipating its price to hit $13 million.
Simultaneously, the crypto also saw heightened institutional interest amid its bullish movement, underscoring the potential for further gains. Aligning with this heightened market interest, biopharmaceutical firm Hoth Therapeutics forged ahead with BTC buying plans, sparking additional optimism surrounding the crypto.
Meanwhile, Bitcoin miner MARA completed its $1 billion private offering this week, with some of the proceeds set to be used to buy more BTC. Overall, the flagship coin leveraged significant buying pressure this week, paving a bullish path for future movements.
Ripple’s XRP Steals Attention
On the other hand, XRP’s price witnessed gains worth 40% over the past week, cementing investor optimism amid a bullish digital asset sector. Notably, XRP whales accumulated nearly $526M worth of the token this week, indicating that the Ripple-backed coin could pump higher. Veteran trader Peter Brandt predicted amid this bullish movement that a parabolic rally for the crypto also lies ahead.
Further, Ripple CEO Brad Garlinghouse conveyed bullish sentiments on XRP and a possible end to the SEC lawsuit, primarily attributable to the newly appointed U.S. Treasury Secretary Scott Bessent. Simultaneously, the Ripple vs. SEC lawsuit saw the regulator and FINRA trying to bring “digital asset securities” claims. This mover comes against the backdrop of XRP’s rally to $1, with speculations of a looming $2 target on SEC Chair Garu Gensler’s exit.
Overall, these market updates have sparked significant investor enthusiasm over the crypto realm’s future action, with market watchers being optimistic.
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 analyst Behdark has predicted that the XRP price can reach $28. This prediction follows his Elliot Wave theory analysis, which also showed when the crypto will reach this double-digit price target.
When XRP Price Will Reach Double Digits
In a TradingView post, Behdark’s Elliot Wave theory analysis showed that the XRP price can reach double digits by 2026. The analyst’s accompanying chart showed that the first double digits target for XRP will be $15, after which the crypto could eventually rally to $28. Behdark also provided more insights into XRP’s current price action and why this rally could happen.
First, the analyst mentioned that the XRP price looks to be currently within a running triangle. In line with this, Behdark remarked that wave D might complete its movement by hunting the all-time high (ATH) at $3.84. He mentioned that there could be a price correction for wave E afterward.
Once that XRP price correction happens, Behdrak predicts the next move will be the post-pattern movement targeting a level above $15. This is where the price target of $28 comes into the picture, as the analyst’s accompanying chart shows it is a feasible target for the crypto, although it might not happen in this market cycle.
An XRP price rally to $28 would mean that the crypto would have a market cap of $2.8 trillion. However, Behdrak suggested that this was still feasible. He noted that his focus was on chart analysis and not fundamentals, even though fundamentals are reflected in the chart itself.
Meanwhile, the analyst told market participants that if a clear and identifiable pattern emerges when the XRP price reaches wave E of the triangle, they could position themselves for the main move to double digits.
A Confirmation Of This Double Digit Target
Crypto analyst Dark Defender also recently shared an Elliot Wave theory analysis, which showed that the XRP price could indeed reach double digits. Specifically, the analyst’s accompanying chart showed that XRP could rally as high as $18 when the wave 5 impulsive move occurs.
Interestingly, unlike Behdark’s chart, which showed that the rally to double digits would happen in 2026, Dark Defender’s chart showed that the rally to $18 could happen as early as mid-2025. Meanwhile, the analyst said that the XRP price is currently in the third wave, with the crypto expected to rally to $5 when this next impulsive move occurs.
Afterward, the XRP price is expected to witness a corrective move that will cause it to drop to as low as $4. The next impulsive move after this could send XRP to the $18 target.
At the time of writing, the XRP price is trading at around $1.55, up over 10% in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
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