Altcoin
BTC & Alts Mainly Consolidate, SHIB & VINE Steal Spotlight
The dynamic realm of crypto assets has concluded yet another week, primarily with investors being on their toes amid broader market uncertainty. Bitcoin (BTC) and leading cryptocurrencies have consolidated over the past week, sparking
speculations despite pro-cryptocurrency Donald Trump’s inauguration. Whereas, meme coins Shiba Inu (SHIB) and VINE have emerged as the talk of the cryptocurrency town over the week, gaining significant traction in light of broader trends and developments.
Here’s a brief report on some of the top cryptocurrency market updates reported by CoinGape Media over the past week.
BTC & Top Crypto Mainly Consolidate
Notably, BTC price chart has shown a period of sideways trading despite the broader market eagerly anticipating gains following Trump’s inauguration. Bitcoin price closed the week near the $105K level, up marginally by 0.1% in the past seven days.
The flagship crypto’s current price trajectory comes despite bullish news for the asset surfacing across the industry. With the recent rescinding of SAB 121, market participants have been highly positive on Bitcoin’s long-term potential.
Further, Semler Scientific announced that it would raise $85 million in convertible notes to invest in BTC this week. This mover has sparked investor interest, paving a bullish road for the flagship coin in the light of heightened buying.
Meanwhile, investment management company BlackRock sought U.S. SEC approval for its new redemption model for the iShares Bitcoin Trust. Overall, these events have emerged as highly optimistic news for the broader BTC market. Nevertheless, the asset continues to consolidate, raising investor speculation and uncertainty.
CoinGape reported that China likely dumped a whopping 194K BTC recently, which falls in line with the current consolidation despite broader bullish developments.
ETH & XRP Market Uncertain
On the other hand, top crypto such as Ethereum (ETH) and XRP have also shown similar price actions. Notably, ETH closes the week at the $3,300 level, up by 0.5% over the week. Further, XRP also illustrated a sideways trading session, although the coin holds above $3.
Ethereum’s consolidation raises severe uncertainty as ETH OI conversely rose to high levels recently, signaling a price breakout awaits the asset. Simultaneously, despite new XRP ETF filings reported this week, even the Ripple-backed asset consolidates, raising investor speculations.
Meme Crypto SHIB & VINE Spark Buzz
Meanwhile, the meme coins SHIB and VINE have stolen the spotlight, with the dog-themed crypto witnessing ecosystem developments and VINE seeing major listings amid heightened market interest. Notably, the Shiba Inu coin’s community introduced the revolutionary ShibOS (Shib Operating System) this week, offering users various use cases for a seamless Web2 to Web3 transition.
On the other hand, with speculations of Vine social media app’s revival soaring, the Vine meme coin has gained substantial traction. Intriguingly, the token enjoys a bullish trend, securing major listings, witnessing an OI surge, and aiding traders in making massive profits. As a result, CoinGape reported that the Vine meme coin price could hit $1 shortly ahead.
Overall, the abovementioned news emerged as some of the most buzzworthy topics reported by CoinGape over the past week.
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.
Onyxcoin (XCN) crypto token price saw a massive 800% rally in two weeks, extending the monthly rally to nearly 2000%. Onyx is a fully decentralized protocol powered by the governance and utility token Onyxcoin (XCN). The primary reason behind this massive uptrend is the resolution of the long-standing issue with HTX Global and Justin Sun.
Onyxcoin (XCN) Price Sees No Signs of Stopping
Onyxcoin (XCN) has extended its rally to nearly 2000% in a month after an 800% surge in its price in just two weeks. XCN price is currently trading at $0.0467, up over 70% in the last 24 hours. The 24-hour low and high are $0.0263 and $0.04839, respectively.
The trading volume has jumped immensely over the last week, with a 98% further jump in the past 24 hours. Notably, the trading volume increased to $1.60 billion today from just $100 million a week ago.
XCN has even taken over XRP, SOL and even BTC in trading volume on Coinbase crypto exchange in the last 24 hours. Coinbase tops other crypto exchanges for XCN trading volumes, recording 38% of market share in terms of volumes.
Furthermore, Onyxcoin (XCN) futures open interest also saw a 45% massive jump over the last 24 hours. As per Coinglass data, Bybit saw 46% increase in XCN futures open interest and signals a price rise further.
Reasons Why Onyxcoin Saw Massive Gains
For clarity, Onyxcoin or Onyx has no relation to banking giant JPMorgan. Onyx blockchain by JPMorgan was rebranded to Kinexys to distinguish it from unrelated entities and protocols in the crypto market.
The massive pump recently in Onycoin (XCN) price came from the resolution of a dispute from the year 2022 related to XCN with Justin Sun and HTX Global. OIP-51 proposal was deployed passing which makes Sun and HTX part of the DAO, with XCN locked for 2 years and a public acknowledgment of the major news by Justin Sun.
Moreover, Onyx has partnered with several platforms including blockchain infrastructure platform Chain. They announced a 30% discount for Chain clients who utilize Onyxcoin (XCN) for payments towards products.
The decentralized Web3 platform also announced incentivizing running Onyx Core node operators with a proposal due early February. It said, “Preference will be given to those already running nodes at the time of the OIP and technical enough to operate a node with high uptime.”
Onyxcoin (XCN) price also rallied as the platform offers gas refunds on staking, voting and rewards. OnyxDAO is on a major marketing push and an incoming proposal on a community burn initiative.
The @onyxDAO is looking for feedback on a community burn initiative. Monthly, the DAO would analyse the burn wallet with AI and randomly choose a burn wallet, skewed by its tokens burned. An OIP would then grant directly to the chosen wallet $10k in $XCN 👇 pic.twitter.com/8GAnqImeyw
— Onyx (@OnyxDAO) January 25, 2025
Varinder Singh
Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space.
At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting.
Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.
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.
XRP Lawsuit: A US Court of Appeals has issued a time schedule order for appeals filed in the long-running Ripple lawsuit. The appeals court has asked both parties to comply with the schedule order, failing which may result in the dismissal of the appeal. Ripple Labs and CEO Brad Garlinghouse by April 7, 2025.
US Appeals Court Sets Schedule in XRP Lawsuit
In the latest court filing, the US Court of Appeals for the Ninth Circuit issued a docketing notice for appeals related to In re Ripple Labs Inc Litigation rulings by the district court. In addition, the court issued a scheduling order with the Sostack v. Ripple Labs case title.
The appellant filed an individual claim against Ripple, XRP II and CEO Brad Garlinghouse in the XRP lawsuit regarding violations of securities laws. Notably, the district court has ruled in favor of Ripple and CEO Brad Garlinghouse, but it is now challenged in the appeals court.
Furthermore, the court asked parties to file any motions seeking relief from this court separately. The motions filed along with the notice of appeal in the district court are not automatically transferred to this court for filing.
Time Schedule Order in Ripple Lawsuit
As per the scheduling order by the appeals court, appellant Bradley Sostack needs to file the Mediation Questionnaire due by January 29.
Also, the court has given the March 6 deadline for submitting the appeal opening brief. This provides exact arguments against Ripple Labs, XRP II and CEO Brad Garlinghouse in the XRP lawsuit. The ruling in this case may create a binding precedent for the Ripple vs SEC lawsuit.
Ripple Labs, XRP II and CEO Brad Garlinghouse will submit an appeals answering brief by April 7, 2025. Notably, the company will file its brief in Ripple vs SEC case by April 16, as per a filing in the 2nd Circuit Court of Appeals.
Also, the optional reply may be filed within 21 days from the submission of the answering brief, as per the time schedule order.
Latest Developments in XRP Lawsuit
Meanwhile, Ripple and CEO Garlinghouse are pushing to end the lawsuit, urging Sostack and the plaintiff class to pay for expenses incurred in the irrational arguments. The crypto company submitted the ‘bill of costs’ after the district court ruled in favor, seeking funds for time wasted and expenses incurred in the lawsuit for securities violations.
In the latest court filing in the United States Court of Appeals for the Ninth Circuit, lead plaintiff Bradley Sostack has appealed against costs taxed in the amount of $210,591.52 against class plaintiffs.
Meanwhile, lawyers believe crypto lawsuits will see settlement or dismissal in April or May as the Trump administration will decide not to pursue appeals.
Varinder Singh
Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space.
At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting.
Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.
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 Dogecoin price has experienced significant growth, maintaining a steady climb within a well-defined “Channel Up” pattern since December 2024. Recent technical indicators and price action suggest that Dogecoin may be getting ready for a major price rally. A crypto analyst has confirmed this bullish outlook, forecasting Dogecoin’s rise to its first target of $0.432.
Double Bottom Confirms Dogecoin Price Bullish Set-Up
‘TradingShot,’ a crypto analyst on TradingView, has forecasted a new bullish target for Dogecoin, expecting the meme coin to rally above the $0.4325 target. According to the market expert, the Dogecoin price has bounced off the higher lows trendline of its Channel Up pattern, forming a distinct Double Bottom pattern.
The analyst shared a price chart, highlighting that the meme coin was initially trading within the Channel Up pattern since it hit a price bottom on December 20, 2024. Typically, a double bottom pattern forms near the higher lows trendline, signaling a potential for upward reversals.
The TradingView analyst also revealed that a unique buy signal always emerges whenever the Dogecoin price makes a Double Bottom near the higher lows trendline of the pattern. Furthermore, each time this Double Bottom pattern occurs, the 4-hour Moving Average Convergence Divergence (MACD) displays two consecutive bullish crosses.
Previously, Dogecoin formed two Double Bottom and MACDs, triggering a significant price rally in both cases. At the time, the price of the meme coin skyrocketed to the 2.618 Fibonacci extension level, marking new highs. Based on this past trend, the analyst believes that the meme coin could experience a similar rally as its price action appears to repeat the same pattern for the third time.
The TradingView expert’s technical analysis also highlights the role of other moving averages, underscoring that the 4-hour MA50 acts as a crucial support area while the MA200 underscores a broader trend. Currently, the Dogecoin price is rebounding off the Double Bottom near the trend line, and the analyst projects a short-term rally toward $0.4325, aligning with the 2.618 Fibonacci extension level.
Historical Patterns To Trigger Price Rally Above $20
In another X post, crypto analyst Trader Tardigrade projected a massive price surge for Dogecoin in this bull market. The analyst has based his optimistic forecast on historical trends where DOGE experienced bull rallies after surpassing a previous “candle body high” in 2017 and 2021. At the time, the meme coin had jumped by over 3,000% and 8,000% respectively.
Drawing from historical trends, Trader Tardigrade predicts that if Dogecoin follows a similar trend pattern, its price could rally to $8.32 before skyrocketing to an ultimate target of $20.68. As of writing, the price of DOGE is trading at $0.34 after declining by over 12% in the past week. A surge to the analyst’s projected targets would require the meme coin to rally by 2,347% and 5,982%, respectively.
Featured image from Unsplash, chart from Tradingview.com
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