Altcoin
Dogecoin Price Chart Patterns Shows Similarities To Bitcoin In 2016, Why This Is Good
Veteran trader Peter Brandt has brought fresh attention to DOGE by identifying striking similarities between the current Dogecoin price action and the Bitcoin price movements from 2015-2016. Brandt highlighted these patterns in a recent post on social media platform X, suggesting that Dogecoin could be following in Bitcoin’s early footsteps.
Peter Brandt’s Observations On Dogecoin Price Chart Patterns
Recent interest in Dogecoin in the past 30 days has brought its price action to the forefront of the trading analysts. The majority of these analysts have highlighted many technical indicators and trading patterns that point to a continued Dogecoin price surge in the coming months. However, veteran trader Peter Brandt has offered a unique perspective that sets his analysis apart. Rather than focusing solely on indicators, Brandt compares Dogecoin’s price action to the early days of Bitcoin, particularly to Bitcoin’s cycle from 2015 to 2016, when the leading cryptocurrency was still priced below $1,000.
In his post, Brandt pointed to specific price behaviors on Dogecoin’s chart that echo Bitcoin’s structure from several years ago. According to Brandt, Dogecoin’s price has undergone phases of price bottoms and corrections that resemble Bitcoin’s patterns before its first major rally in 2017. “Does anybody see the similarities of $DOGE to the $BTC chart in 2015-2016?” Brandt said.
According to him, the Dogecoin price action in the past year has been characterized by a blow off top, a correction via a falling wedge, a double bottom, and a complex correction following completion of the double bottom, all of which were present on the Bitcoin price chart in 2016. Notably, Brandt highlighted that Dogecoin is currently in the same position as Bitcoin was in May 2016.
Why Is This Good For Bitcoin?
If anything, the way Bitcoin turned out is a good indicator of what’s in play for Dogecoin’s future. Each of the patterns highlighted by Peter Brandt was instrumental in marking Bitcoin’s bottom and its subsequent climb toward new heights in 2017. If the Dogecoin price continues to mirror Bitcoin, we could see the meme coin going on a strong surge in 2025, much like the Bitcoin price rally in 2017.
At the time of writing, Dogecoin is trading at $0.38, and its value has essentially doubled in the past seven days. According to the on-chain analytics platform Santiment, this Dogecoin price rally has been largely driven by retail traders. Notably, addresses holding less than 100,000 DOGE tokens have increased by 74,885 in the past four weeks, while sharks and whale addresses have reduced by 350 addresses in the same timeframe.
Although Dogecoin has corrected since it reached $0.4346 in the past 24 hours, the meme coin is starting to trend on social media again. This is due to the US president-elect Donald Trump appointing Dogefather Elon Musk and billionaire Vivek Ramaswamy to lead the newly created Department of Government Efficiency (DOGE).
Featured image created with Dall.E, chart from Tradingview.com
Binance Launchpool has recently announced the listing of Usual (USUAL) on its platform, sparking market optimism. The launch of the listing will offer users an opportunity to farm the tokens. The exchange will begin the farming process, allowing users to lock their BNB and FDUSD to earn USUAL rewards.
Binance Launchpool to Feature USUAL
Binance Launchpool has announced that it will list USUAL starting November 14. This announcement marks the launch of Usual, a decentralized fiat-backed stablecoin, with pre-market trading to begin on November 19. The exchange users can lock their BNB and FDUSD to farm USUAL tokens, receiving rewards over four days.
The USUAL token will be paired with USDT for pre-market trading, allowing users to trade the token once the pair goes live. The farming of USUAL tokens will begin as users participate in Binance’s Launchpool offering.
Each user will have a maximum holding limit of 40,000 USUAL tokens, with a total token supply of 4 billion USUAL. Of that, 300 million tokens 7.5% will be allocated for Launchpool rewards. This initiative is a significant step in expanding the exchange’s role in the decentralized finance (DeFi) space.
However, users from certain countries, such as the United States, Canada, Japan, and North Korea, will not be eligible to participate. Binance has stated that KYC verification is required for those looking to farm USUAL tokens.
BNB Ecosystem And Market Performance
The listing of Usual on Binance Launchpool marks a new chapter in the DeFi space, offering a decentralized fiat-backed stablecoin. This launch comes at a time when meme tokens like ACT and PNUT have witnessed impressive price surges after their listings, indicating strong market interest in new projects.
BNB Price is currently trading at $634, with a 24-hour low of $605 and a high of $659. The coin has seen a 5% increase in the past 24 hours, a 6.8% rise over the last week, and a 7.6% gain in the last month.Its 24-hour trading volume stands at $3.7 billion, demonstrating robust demand.
The global crypto market is experiencing a bullish trend. Additionally, the recent US election victory by Donald Trump has sparked optimism among Bitcoin supporters. Binance founder CZ’s new initiative, Giggle Academy, is also gaining attention. The project aims to educate users in key target countries.
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.
In an effort to further uplift market sentiment, leading crypto exchange Binance announced on Thursday that it is expanding offerings for three tokens. The crypto exchange revealed that it is listing new pairs for The AI Prophecy (ACT), Peanut The Squirrel (PNUT), and First NEIRO on Ethereum tokens, sparking investor curiosity. Meanwhile, the listed coins’ prices soared 3%-32%, signaling that the broader market reacted positively to the listings announcement.
Binance Lists ACT, PNUT, & NEIRO Echoing Market Optimism
According to an official Binance announcement dated November 14, the crypto exchange is expanding offerings for the aforementioned tokens starting November 15 at 08:00 UTC. Per the listing announcement, the exchange is adding The AI Prophecy in FDUSD and USDC trading pairs. Further, the crypto exchange is also adding NEIRO in the USDC trading pair.
Simultaneously, the crypto exchange’s announcement revealed that Peanut The Squirrel will be added to the spot trading platform in BTC, FDUSD, and USDC trading pairs on the same date and time. Also, the leading crypto exchange highlighted that it will enable spot Algo Orders for ACT in FDUSD and USDC pairs, NEIRO/USDC, and PNUT in BTC, FDUSD, and USDC pairs. Overall, the announcement reverberated substantial market optimism over the listed coins’ price movement amid a bullish crypto market.
How’s The Current Market Sentiment For Listed Coins?
At the time of reporting, NEIRO price soared 3% over the past day and is now trading at $0.002479. The coin’s intraday low and high were $0.002285 and $0.002749, respectively.
Simultaneously, The AI Prophecy price gained 9% intraday to rest at $0.7519. Its 24-hour low and peak were $0.542 and $0.942, respectively.
Additionally, Peanut The Squirrel price witnessed gains worth 32% over the past day to rest at $1.88. The token’s intraday low and high were $1.28 and $2.47, respectively.
Overall, the bullish price trajectories fall in line with Binance’s listing announcement. Notably, CoinGape Media previously reported ACT price to have soared 1300% and PNUT 250% in light of the same exchange’s previous spot listings and Elon Musk’s X post, which has fueled market speculation.
Meanwhile, NEIRO price witnessed a whopping 115% surge with its listing on major exchanges. Altogether, these past chronicles underscore the listed tokens’ potential to offer further gains in the market.
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.
Litecoin is likely showing interest in joining the meme coin sector following the recent market frenzy, as per a post that says “I now identify as a memecoin” due to current market condition. Dogecoin reacted and welcomed the move and asked fans to suggest a mascot. Traders responded immediately to the posts, triggering a 15% upside move in LTC price.
Litecoin Now Joining the Meme Coin Space?
Litecoin, a decentralized peer-to-peer crypto inspired by Bitcoin, triggered a massive discussion on the X platform on November 14. The post said, “Due to current market conditions I now identify as a memecoin.”
This sparked discussion and speculation in the crypto community, with many suggesting how the transition will take effect. Other top meme coins such as Dogecoin welcomed this proposal by Litecoin. It recommends promoting Litecoin’s move with a “chibi mascot.”
Hey fam, @litecoin now identify as a memecoin, so can we help them out making a few LTC memes to get them started? Some kind of chibi mascot I think 🤔 https://t.co/t8OiCPDNY6
— Dogecoin (@dogecoin) November 14, 2024
One of the users took a jibe stating, “You were always a meme coin”. Litecoin responded that it a “lifestyle choice at the moment. Probably just a phase.” Also, Litecoin mocked Ethereum and Solana as the crypto community hopes these projects can also tweet something like this.
Will LTC Price Breach $100 Soon?
The entire meme coin sector has turned into a frenzy following PEPE Coin listing on Coinbase, Robinhood, and Upbit exchanges on Tuesday. Along with the 83% gains in PEPE price in the last 24 hours, Dogecoin (DOGE), dogwifthat (WIF), and Bonk (BONK) have also rallied another 25% each. Well, looking at this massive crowd attention, Litecoin seems tempted to join the meme coin camp.
LTC price jumped 15% in the past 24 hours, with the price currently trading at $82.25. The 24-hour low and high are $72.70 and $84.35, respectively. Furthermore, the trading volume has increased by 33% in the last 24 hours, indicating a rise in interest among traders.
As per CoinGape analysis, Litecoin price can jump to hit $100 with golden cross pattern formation and the meme coin hype.
As per the data from IntoTheBlock, the balance held by short-term LTC holders has surged by 31% over the past month, signaling a notable trend shift. Such accumulation by short-term holders often aligns with market bottoms or precedes significant price rallies.
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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