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Dogecoin Price Breaks Daily Candle With A Breakout Of The Bullish Pennant, Why A 200% Rally Is Possible

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2 days ago

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The Dogecoin price has undergone bullish action in the last 24 hours on a continued rally from the November 26 low of $0.369. With the Dogecoin price recently trading at an intraday high of $0.4577, this translates to a 24% increase in seven days. 

Notably, this rally has seen the Dogecoin price break to the upside of a price pattern formation, which suggests that another major rally is ahead. Interestingly, technical analysis suggests that the Dogecoin price is on track to go on another 200% rally from here.

Dogecoin Price Daily Candle Closes With A Breakout

Dogecoin’s daily candle closed with a breakout above a key resistance level, which has opened it to another 200% price rally from here. Particularly, this resistance breakout occurred as a push above a bullish pennant formation on the Dogecoin price chart, which has been in play since the beginning of November.

This chart pattern was highlighted on social media platform X by crypto analyst Trader Tardigrade, who is known for his technical insights. According to him, Dogecoin’s daily candle closure marks a definitive breakout from the bullish pennant pattern that has been forming over the past month. This pattern, characterized by a period of consolidation following a strong upward move, often precedes another leg up in the asset’s price. 

For the case of the Dogecoin price, this upward move started from the beginning of November around $0.143 up until it reached above $0.43. This comes to a 200% rally in less than two weeks. Since then, the Dogecoin price has yet to undergo a strong rally, albeit a few upward moves that have also been complemented by corrections. These fluctuations have collectively shaped the bullish pennant, positioning the Dogecoin price for its next potential breakout move.

Why A 200% Rally Is Possible From Here

The breakout from the bullish pennant has raised the possibility of Dogecoin reaching new heights. With the breakout confirmed, the Dogecoin price could witness another 200% rally in early December, much like it did in early November. Projections indicate that this could see the Dogecoin price breaking above its current all-time high of $0.7316 and subsequently the $1 level. 

According to Trader Tardigrade, the price target to watch is $1.3, which is exactly 200% from the bullish pennant breakout level. Achieving this level, however, will require significant bullish momentum from Dogecoin bulls, with key resistance zones needing to be cleared along the way. The first of these key resistance zones lies at $0.457. Beyond this, the next significant challenge will be a significant break above the current 2024 high of $0.476.

At the time of writing, the Dogecoin price is trading at $0.439, and is up by 2.77% in the past 24 hours.

Dogecoin price chart from Tradingview.com
DOGE price at $0.43 | Source: DOGEUSDT on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com





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Pepe Coin Whales Accumulation Signals 7x Gains For PEPE Looms

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53 minutes ago

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December 4, 2024

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Pepe Coin whales’ constant accumulation of the frog-themed meme token amid a bull cycle has birthed an optimistic wave among investors globally. On Wednesday, on-chain data indicated that a whale continued bagging the meme token, accumulating a total of 337.09 billion PEPE to date. Simultaneously, with other stats indicating heightened market interest in the asset, a potential 7x pump remains much awaited by market enthusiasts across the crypto landscape.

Pepe Coin Whale Accumulation Upbeat, Crypto Market Bullish

As per data by Lookonchain, Pepe Coin whales continue to accumulate the frog-themed meme token, indicating increased market interest. Notably, the wallet address 0x160…b5B bought 337.09 billion PEPE, worth $6.92 million, from Binance over the past 20 days. This massive accumulation, in turn, set off optimistic waves for the token, flagging heightened buying pressure.

Simultaneously, Etherscan data showcased a gradual rise in the asset’s holders at the time of reporting. Per the data, nearly 334,000 addresses held Pepe Coin, sparking optimism amid a bullish Q4 crypto market.

Etherscan data on Pepe Coin Etherscan data on Pepe Coin

Also, it’s worth mentioning that this one of the top meme coins was recently integrated into custody on Coinbase Prime. This enhanced offering further paves the way for money to inflow into the token, attracting a wide range of investors. Simultaneously, the frog-themed meme crypto’s ongoing bull run reflects market bullishness in the wake of the heightened buying and enhanced offerings.

PEPE Price To Surge 7x?

At the time of reporting, PEPE price was up nearly 0.5% and traded at $0.00002065. Its intraday low and high were $0.00001908 and $0.00002104, respectively. Further, the weekly and monthly charts for the coin showcased gains worth 12% and 154%, respectively. Altogether, the bullish trajectory, followed by increased buying, has solidified investors’ optimism surrounding further gains for the meme token.

Intriguingly, a recent PEPE price analysis by CoinGape pointed out that the meme coin could further rally 7x, phenomenally extending gains. This bullish analysis also rides the back of rising Pepe Coin whale accumulations, as over 10 trillion tokens were reported to be accumulated.

Overall, the abovementioned stats paint a highly bullish scenario for the frog-themed meme token, indicating more gains possible in light of burgeoning market interest. Market watchers continue to eye the coin, primarily reflecting bullish sentiments over future movements.

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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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BTC at $95K, BNB Up 15%, TRX Soars 70%, RSR Rockets 121%

Published

4 hours ago

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December 4, 2024

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The crypto prices remain bullish today, with Bitcoin (BTC) consolidating in the $93K to $96K range. Among altcoins, Binance Coin (BNB) surged 15%, reaching a new all-time high. Tron (TRX) jumped 70%, securing its position in the top 10 cryptocurrencies by market valuation. Reserve Rights (RSR) became the day’s top gainer with an impressive 121% rally.

The global crypto market cap rose by approximately 1%, now at $3.54 trillion. Trading volume also saw a boost, climbing to $292 billion. Let’s dive deeper into the top cryptocurrencies by market capitalization and their price movements today, December 4.

Crypto Prices Today: BTC at $95K, ETH, SOL Gain, XRP Drops by 6%

Bitcoin (BTC) is inching closer to $96,000, continuing to trade within a consolidated range for over two weeks. Binance Coin surged to a new all-time high and is now trading at $750, reflecting strong market interest. Meanwhile, Tron (TRX) made a significant leap and has entered the top 10 cryptocurrencies by market capitalization.

Bitcoin Price Today

Bitcoin (BTC) price trades at $95,900, with a 24-hour range between $93,629 and $96,669. Its market cap reached $1.9 trillion. The trading volume in the last 24 hours stood at $70 billion. Bitcoin’s market dominance dropped by 0.3%, falling to 54.11%.

According to sosovalue $17 million in outflows from a small BTC ETF on Tuesday. Ark & 21 Shares sold $93 million worth of BTC. However, Fidelity recorded a $52 million inflow. BlackRock’s ETF data remains awaited, keeping investors curious.

Meanwhile, Bitcoin mining firm Foundry cut its workforce to just 80–90 employees. The firm aims to streamline its operations.

Ethereum Price Today

Ethereum (ETH) price trades at $3,667, reflecting a 1% increase over the past 24 hours. Its 24-hour low and high are $3,504 and $3,708. The cryptocurrency has a market cap of $441 billion and a 24-hour trading volume of $40 billion. Ethereum’s market dominance currently stands at 12.56%.

sosvalue reported ETH ETFs saw an inflow of $67 million, with Fidelity contributing $73 million. BlackRock’s data remains awaited, leaving analysts eager for updates.

Meanwhile, Ethereum co-founder Vitalik Buterin emphasized the need for enhanced security and privacy in Web3 wallets. He urged wallets to integrate privacy features directly, reducing reliance on specialized privacy wallets.

XRP Price Today

XRP is trading at $2.55, showing a 6% drop in the past 24 hours. Its 24-hour low and high are $2.36 and $2.86. XRP’s market cap stands at $145 billion, with $42 billion in trading volume. It is currently ranked 3rd by market cap.

In other news, Ripple lead attorney in the lawsuit, Jorge Tenreiro, has joined the US SEC as Chief Litigation Counsel. This move raises concerns over stricter crypto oversight, especially due to his role in the XRP case.

Solana Price Today

Solana (SOL) price is trading at $238, reflecting a 5% gain in the past 24 hours. Its 24-hour low and high are $216 and $240. The cryptocurrency’s market capitalization stands at $113 billion, with $8 billion in trading volume. Solana ranks 5th among cryptocurrencies by market cap.

In a significant development, Grayscale Investments has applied for a Solana ETF with the US SEC. This move highlights the growing institutional interest in Solana’s ecosystem.

Meme Crypto Prices Today

Meme coins are showing a mixed reaction today. Dogecoin (DOGE) price was down by 2%, trading at $0.41, with a 24-hour high of $0.42. On the other hand, Shiba Inu (SHIB) was up by 3%, trading at $0.00003015.

Other top meme coins are also showing mixed movements. PEPE was up by 1%, and WIF gained 4%, while Bonk was down by 1%. The meme coin market continues to remain volatile, with varied performances across different tokens.

Top Crypto Gainer Prices Today

Reserve Rights

Reserve Rights (RSR) price saw a massive 121% jump in the past 24 hours, trading at $0.026. Its 24-hour low and high were $0.01231 and $0.02669. This impressive rally has placed RSR among the top gainers today.

The surge in RSR price comes amid growing speculation about the potential appointment of Paul Atkins as the next U.S. SEC chair under President Donald Trump. This news has sparked increased interest in the project.

Tron

Tron (TRX) price was the second biggest gainer in the last 24 hours, soaring by 70% and trading at $0.38. It has now entered the top 10 cryptocurrencies by market cap. Its 24-hour low and high were $0.2245 and $0.4406, respectively. TRON’s market cap stands at $32 billion, with a trading volume of $12 billion. The strong price movement highlights growing investor interest and solidifies TRON’s position in the top-tier cryptocurrencies.

Top Crypto Loser Prices Today

Kaia

Kaia (KAIA) price was the worst performer in the last 24 hours, with a 17% decrease in price. Crypto prices today show it is trading at $0.34, with a low of $0.26 and a high of $0.39.

Flare Network

Flare Network (FLR) price dropped by 10% and is now trading at $0.034. Its 24-hour low and high are $0.03199 and $0.0382.

The hourly chart looks bullish for the crypto market, with major altcoins and Bitcoin up by 1 to 2%. Overall, the crypto prices today show strong bullish signs, which could be a positive signal for investors looking for growth in the coming days.

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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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XRP Price On The Brink Of Another Breakout: The ‘Game-Changing Implications’ Of Ripple’s RLUSD Mints

Published

11 hours ago

on

December 3, 2024

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XRP has been on a significant upsurge in the past few weeks. Notably, the XRP price recently surged to $2.81, its highest market value since January 2018, marking a significant milestone in its price trajectory. Interestingly, the XRP price rally has seen it overperforming most cryptocurrencies and overtaking BNB, Solana, and Tether USDT in market cap ranking. As the XRP price momentum grows, another stimulant might be on the rise that would send it on a greater surge. Particularly, fresh speculation around Ripple’s use of its escrow reserves for RLUSD mints is drawing attention across the cryptosphere.

The RLUSD Minting Strategy And Ripple’s Escrow

Rumors are that Ripple, the payment technology company behind XRP, may be planning to use its escrowed XRP as the initial reserve for RLUSD minting. As the largest holder of XRP, Ripple currently has approximately 37.24 billion tokens in escrow, with a set portion of 1 billion XRP tokens unlocked every month.

Related Reading: Thinking Of Selling Your Dogecoin Already? Crypto Analyst Puts Price Top In The Double-Digits

Meanwhile, RLUSD is Ripple’s new dollar-backed stablecoin that is expected to launch soon, with regulatory approval from the New York Department of Financial Services (NYDFS) anticipated on December 4.

According to a crypto analyst on social media platform X, this dollar-backed stablecoin could provide Ripple with a mechanism to sell RLUSD to its On-Demand Liquidity (ODL) partners, offering a significant boost in working capital. This approach could deliver two transformative outcomes for Ripple and the broader XRP Ledger (XRPL) ecosystem: a substantial liquidity injection and a controlled reduction in XRP’s total supply. Furthermore, it would provide utility for the locked XRP tokens in Ripple’s possession. 

Game-Changing Implications For The XRP Price And XRPL

With RLUSD, Ripple would be entering a stablecoin market dominated by heavyweights like USDT and USDC. However, given its longstanding history with the crypto industry, Ripple might be in a good position to compete with other stablecoins. 

If RLUSD becomes widely adopted, there will be an indirect demand for XRP, which will increase its utility. More demand for XRP in this context could positively affect its price. Additionally, the process of minting RLUSD might involve effectively locking up XRP tokens if used as escrows, resulting in a reduced circulating supply and further supporting price growth.

At the time of writing, XRP is trading at $2.74 and is currently up by about 12% and 90% in the past 24 hours and seven days, respectively. The rally follows intense whale accumulation, with wallets holding between 1 million and 10 million XRP collectively amassing over 679.1 million tokens in three weeks, according to data from on-chain analytics company Santiment. 

XRP Price
Source: Santiment

Interestingly, this accumulation is currently valued at an approximate $1.66 billion. Such an accumulation trend could continue to push the XRP price on a positive path, with the next target being a break above $3 and a subsequent break into a new all-time high above $3.40.

XRP price chart from Tradingview.com
XRP still looking bullish | Source: XRPUSDT on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com



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