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BTC Above $102K, Meme Coins Take Heat 

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5 hours ago

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Crypto Market Today: In a riveting turn of events, following Donald Trump’s presidential inauguration on Monday, the crypto realm appears to have witnessed mixed price actions recently. While Bitcoin (BTC) price maintained a hold above the $102K level, top meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), and Official Trump (TRUMP) have traded in the red territory.

Notably, the global cryptocurrency market cap jumped nearly 1% over the past day to reach $3.52 trillion. Further, the global trading volume dropped 7.5% to $318.11 billion. Ethereum (ETH) and Solana (SOL) showcased a sideways trading session intraday. Besides, XRP hovered in the green territory.

Here’s a brief overview of some of the top cryptocurrencies by market cap and their price action on January 21.

Crypto Market Today: BTC Resilient Post-Trump’s Inauguration, Meme Coins Dip

Despite the pro-crypto Republican U.S. president’s recent failure to mention crypto as a top priority, BTC has showcased potential by avoiding further dips. CoinGape reported that Trump’s Administration has failed to mention cryptocurrency as a top priority in a recent document sent to Republican lawmakers. This saga has raised severe uncertainties, contrary to the 47th president’s pro-crypto promises made last year.

However, alongside BTC, ETH, XRP, and SOL have also showcased resiliency, avoiding major price dips. Besides, the meme crypto market has seen notable drops, with the TRUMP token leading the fall. So, let’s gauge in on the crypto prices today.

Bitcoin (BTC) Price Today

BTC price showcased a 1% increase in value at the time of reporting and is currently sitting at $102,725. The coin’s intraday low and high were $100,103.96 and $109,114.88, respectively. Notably, the intraday price chart shows a highly volatile movement, sparking contrary speculations as Trump takes office and the market eagerly awaits gains. Besides, a recent BTC price analysis by CoinGape reveals that expectations of new all-time highs are forming around the $120K and $130K levels amid broader developments.

Ethereum (ETH) Price Today

Further, ETH price slipped marginally by 0.3% over the past day and is currently trading at $3,257. Its intraday low and high were $3,202.49 and $3,444.28, respectively. Notably, a recent Ethereum price analysis by CoinGape revealed that the coin could suddenly skyrocket to $7,000. This bullish anticipation comes against the backdrop of rising whale accumulations and strong bullish technical patterns.

XRP Price Today

XRP price chart for today underscored a marginal 0.4% uptick at press time, reaching $3.11. The Ripple-backed crypto’s 24-hour low and high were $3.05 and $3.35, respectively. Intriguingly, renowned crypto analyst Ali Martinez posted on X, revealing that XRP has broken out of a bullish flag. This hints at a $4.40 price target looming for the asset.

XRP price by Ali MartinezXRP price by Ali Martinez

Solana (SOL) Price Today

SOL price slipped 1% over the past day and is currently sitting at $238. The coin’s intraday low and high were $232.40 and $272.15, respectively. Intriguingly, cryptocurrency expert “Ash Crypto” has recently posted on X, revealing that multiple users are unable to withdraw SOL from Coinbase amid the crypto’s rising popularity post-Trump’s inauguration.

Meme Crypto Market Today

Dogecoin price cracked 4% intraday and is currently trading at $0.3475. Notably, the meme coin’s slumping price action falls in line with the recent Elon Musk DOGE lawsuit that raised uncertainty among investors.

Also, TRUMP price crashed by 21%, reaching $35.19, despite the Republican taking office. SHIB price tanked 2.5% and is currently resting at $0.00002004. Even PEPE price dipped 2.5% to trade at $0.00001533.

Top Crypto Market Gainers Today

Raydium (RAY)

Price: $7.60
24-Hour Gains: +28%

Aave (AAVE)

Price: $345
24-Hour Gains: +12%

ai16z (AI16Z)

Price: $0.8779
24-Hour Gains: +10%

Mantle (MNT)

Price: $1.04
24-Hour Gains: +9%

Top Crypto Market Losers Today

Fartcoin (FARTCOIN)

Price: $1.72
24-Hour Loss: -13%

Movement (MOVE)

Price: $0.6983
24-Hour Loss: -6%

Bittensor (TAO)

Price: $397
24-Hour Loss: -5%

MANTRA (OM)

Price: $3.5
24-Hour Loss: -5%

Overall, the market currently reflects an uncertain investor sentiment despite the pro-crypto presidential inauguration. Nevertheless, long-term prospects remain bullish, as also stressed by crypto analyst Ali Martinez. Ali states that the “first pro-crypto U.S. President just got inaugurated,” whilst the market is panic selling. Traders and investors continue to monitor cryptocurrencies for further price action shifts.

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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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Will Bitcoin and Altcoins Crash Following Bank of Japan Rate Hike This week?

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10 minutes ago

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January 22, 2025

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Bitcoin and the overall altcoin market have registered strong comeback after an early sell-off on Monday. This recovery comes amid growing euphoria around the Donald Trump inauguration as well as strong demand for TRUMP meme coins. However, investors are likely to undertake a cautious stand with Bank of Japan’s rate hike decision.

Bitcoin and Altcoins Subject to Macro Developments

Bitcoin price has seen massive volatility in the last 24 hours, falling under $100K levels, and then forming a 10% god candle to an all-time high around $110K. The euphoria around the launch of TRUMP meme coins supported by Donald Trump inauguration on Monday has been the cause of volatility. Crypto market analyst Rekt Capital stated that Bitcoin needs a weekly close above $104,740 to confirm fresh all-time highs moving ahead.

Source: Rekt Capital

Commenting on his chart further, the analyst added: “A Weekly Close below red and it’s possible BTC could pullback again, however likely for a shallower retrace compared to the one of mid-December 2024”.

Furthermore, macro developments like dropping core CPI and strong US jobs data have also contributed to the rally. Investors will now be closely watching the Bank of Japan’s interest rate decision this Friday, as it plans to take rates to a 17-year high. Following today’s breakout, technical charts suggest that Bitcoin price rally to $158,000 is still in play.

Altcoins Market Sees Strong Recovery

The overall crypto market liquidations have soared to $1.24 billion of which Bitcoin liquidations are just $204 million, as per the Coinglass data. Thus, the altcoin space is facing even deeper correction with the TRUMP and MELANIA meme coin launch.

The Ethereum price is up 8% today after Donald Trump’s DeFi project World Liberty Financial purchased a large number of ETH coins in the last 24 hours. The good this is that the altcoin season index is showing signs of recovery jumping above 50 once again.

Source: Blockchain Center

Popular crypto analyst Michael van de Poppe remains bullish on altcoins. He said:

“A tremendous weekend with TRUMP and a cascade on the altcoins. I expect that we’ll see strength on ETH, LINK, AAVE and a lot of altcoins in the coming week as Yields are going down and the $DXY becomes weaker. Great times are ahead of us”.

Will Bank of Japan Play the Spoilsport?

The Bank of Japan (BOJ) is anticipated to raise interest rates on Friday, to the highest levels in 17 years after the 2008 financial crisis. This potential rate hike would signal the central bank’s commitment to gradually increasing rates, currently at 0.25%, towards a target of around 1%.

During its two-day meeting concluding on Friday, the BOJ is expected to lift its short-term policy rate to 0.5%. If implemented, this would mark the first rate hike since July of last year, a move that, combined with weak U.S. jobs data at the time, led to significant market turbulence in early August.

However, this time the US jobs data has shown strength along will falling core CPI. Thus, any major upheaval in Bitcoin and altcoins is unlikely moving ahead, is unlikely.

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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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Securities Lawyer Estimates XRP Lawsuit End Date

Published

1 hour ago

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January 22, 2025

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The crypto community’s focus is still on the prolonged XRP lawsuit despite the buzz surrounding Donald Trump’s TRUMP memecoin launch.  With Trump’s inauguration and SEC Chair Gary Gensler’s resignation, the XRPArmy anticipates an imminent resolution in the Ripple vs SEC case.

However, legal experts such as Securities attorney Marc Fagel warn about the Ripple vs SEC case’s unpredictable nature, predicting a possible 10-month delay. The controversy surrounding Trump’s token launch has reignited the discussion on the much-awaited XRP lawsuit settlement.

Securities Lawyer Predicts 10-Month Delay in Ripple vs SEC Case

In an X post, Marc Fagel emphasized the uncertain nature of the Ripple vs SEC case, positing that the case could be further prolonged to 10 months. He has also commented on the possibility of a sooner settlement under the Trump government if the new SEC Chair Paul Atkins opts to drop the appeal.

The discussion began with Fox Business journalist Eleanor Terrett’s post on Trump’s TRUMP token. While Eric Trump hailed the TRUMP coin as the “hottest digital meme on earth,” Fagel dismissed it as a “pyramid scheme.”

The conversation quickly escalated into a debate about hot topics, including the Ripple vs SEC case, Elon Musk’s ongoing battle with the SEC, and the broader implications of crypto regulations. Marc Fagel wrote,

Ripple broke the law, as a federal court confirmed. Musk, previously charged with securities fraud and thus a repeat offender, seems to have pretty clearly broken the law. But I guess we just give billionaires and well-financed companies a pass.

How Trump’s Memecoin Will Impact XRP Lawsuit?

Following the recent memecoin frenzy triggered by the TRUMP token, XRP lawyers are closely examining the potential outcome of the XRP lawsuit. For instance, attorney Bill Morgan raised concerns over the memecoin’s impact, urging Congress to adopt clearer crypto guidelines. At the same time, pro-XRP advocate John Deaton emphasized his preference for memecoin regulations over other concerns like SAB 121, CFTC oversight, and tax reform.

Ripple Lawsuit’s Broader Impact on Crypto Market

The Ripple vs SEC case conclusion could have a broader impact on the crypto market, especially in the regulatory landscape. Ripple’s win over the SEC could establish a legal precedent for other cryptocurrencies, clarifying digital assets as non-securities. However, if Ripple loses to the SEC, it could usher in a stricter regulatory environment, posing significant challenges for cryptocurrencies.

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Nynu V Jamal

Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.

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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Dogecoin Million Dollar Transactions Soar After Trump Inauguration, Is A Bounce Coming?

Published

2 hours ago

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January 22, 2025

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The Dogecoin network has seen a significant surge in activity following the inauguration of US President Donald Trump. Although this surge in activity cuts across the entire industry, on-chain data has revealed interesting dynamics among Dogecoin holders. These developments were brought into focus by crypto analyst Ali Martinez, who, using data from the analytics platform Santiment, highlighted a remarkable surge in high-value transactions on the Dogecoin network. According to Martinez, Dogecoin recorded an impressive 588 transactions exceeding $1 million within the last 24 hours.

Dogecoin Renewed Interest From Million-Dollar Transactions

The recent surge in large-scale Dogecoin transactions suggests the possibility of a significant upswing, as this activity typically indicates a liquidity bottom that initiates upward momentum. Historically, a rise in high-value transactions is associated with renewed investor confidence, especially when market sentiment shifts toward bullish trends.

In Dogecoin’s case, the transactions in question are not just sizable but exceptionally significant, with each exceeding $1 million. What makes this surge even more compelling is the timing, as it coincides with the bullish sentiment surrounding Donald Trump’s inauguration. Therefore, the current increase in transactions appears more indicative of accumulation rather than sell-offs or profit-taking.

Dogecoin
Million-dollar DOGE transactions on the rise | Source: Ali Martinez on X

The entire crypto market is currently in a bullish phase, with smart money entering early in anticipation of a pro-crypto environment under the new Donald Trump administration. This further lends credibility to the idea that these transactions could be more of accumulations than selloffs. Even if some of the activity includes sell-offs, the prevailing bullish sentiment suggests that such events may be brief, quickly absorbed by the market’s positive momentum.

Dogecoin is gaining momentum on social media, garnering over 500,000 mentions on platform X within the last 24 hours. This is due to the newly created Department of Government Efficiency, sharing the same acronym as Dogecoin’s ticker (DOGE), which has contributed to significant enthusiasm. Heightened visibility on social media often translates into increased retail participation, which could create a combined effect with whale activity to drive the price higher.

DOGE Price Analysis: A New Multi-Year Bullish Pattern 

In another technical analysis, Martinez noted that DOGE is trading within a multi-year ascending parallel channel on the weekly candlestick timeframe. The ongoing bull market gained momentum after Dogecoin rebounded off the lower trendline of the channel in late 2023, and the meme coin has been trading in an upward direction since then. The sustained climb along this channel suggests that DOGE could maintain its bullish trajectory over the longer timeframe.

In terms of a price target, the chart pattern projects a bullish target of $15 at the upper trendline of the ascending parallel channel. At the time of writing, DOGE is trading at $0.343, meaning that reaching this target would represent an extraordinary 4,273% increase from its current price level.

Dogecoin
DOGE trading at $0.34 on the 1D chart | Source: DOGEUSDT on Tradingview.com

Featured image from Unsplash, chart from Tradingview.com



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