Altcoin
Dogecoin Price Could Rally 400% As Whales Move $100M DOGE
Dogecoin (DOGE) price has seen a retracement in the last 24 hours after failing to breach the resistance at the intra-day high of $0.4602. However, during the dip, Dogecoin whales have transferred over $100 million worth of DOGE, signaling significant market interest in the asset. Simultaneously, analysts anticipate that DOGE could potentially experience a 400% price surge in light of the heightened market interest amid a highly bullish Q4 market.
Whale Transactions Indicate Increased Market Activity
Recent reports reveal that two large transactions have taken place involving Dogecoin, involving over 249 million DOGE worth around $102 million. The first transaction saw 131 million DOGE transferred from an unknown wallet to Coinbase, while the second involved 117 million DOGE moved from Binance to an undisclosed wallet.
These large transfers could suggest that whales are positioning themselves for a possible price move, while also indicating heightened market interest.
The increased activity by major holders often signals potential price shifts. As DOGE trades above $0.40, many market participants are closely watching these large transfers, which may precede a breakout or retracement in price. In particular, the recent surge in derivatives trading volume by 77% suggests a rise in demand for Dogecoin, potentially setting the stage for the next big move.
Analyst Predicts 400% Dogecoin Price Surge
Market analyst Javon Marks has speculated that Dogecoin’s price could rise by 400% based on historical trends and Fibonacci extension levels. According to Marks, the meme coin is in its third bull cycle, following similar patterns from previous cycles in 2017 and 2021. The analyst believes that DOGE price could target the 1.618 Fibonacci extension, which currently sits at $2.28, up from its current price of around $0.42.
In his analysis, Marks points out that during the previous bull cycles, Dogecoin surged from its market bottom to the 1.618 Fibonacci extension level. In 2017, DOGE rose from $0.00009 to a peak of $0.8750, while in 2021, the asset moved from $0.00168 to its current all-time high of $0.73995.
Marks anticipates that a similar trend could unfold this time, with DOGE rising from its current cycle bottom at $0.06004 to $2.28. This represents a potential upside of 457% from the current price.
DOGE Bullish Pennant Formation Signal Breakout
Technical indicators are also signaling a bullish outlook for Dogecoin. The chart pattern currently forming suggests a Bullish Pennant, a continuation formation that typically precedes an upward breakout. After a strong price increase, DOGE has entered a consolidation phase, where it is currently trading near the $0.42 level. This consolidation may indicate a cooling-off period before the price makes another significant move.
The breakout from this pattern could propel Dogecoin to higher levels. If the price clears key resistance at $0.45 and $0.50, it could test the projected target level of $0.65. This would align with the bullish structure observed in previous cycles, where DOGE experienced substantial upward movements following similar consolidations.
As Dogecoin continues to consolidate, traders and analysts are keeping an eye on key support and resistance levels. The immediate support for DOGE lies at $0.40, where the price has recently stabilized. If this level holds, DOGE may be able to push through the next resistance at $0.45.
A breakout above this level could pave the way for further gains, potentially bringing DOGE closer to the $0.50 mark amid Dogecoin ETF anticipation. On the other hand, if the price fails to hold above $0.40, there could be a pullback to lower support levels at $0.35.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
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 whales have shaken the crypto market to its core on Saturday, embarking on a massive buying spree amid the latest ETF advancement. Renowned crypto analyst Ali Martinez revealed that these whales accumulated nearly 1 million tokens over the past two weeks. Investors are eyeing this as a highly bullish event, given that the market has also seen Canary Capital’s LTC ETF on the Depository Trust & Clearing Corporation (DTCC) recently.
Litecoin Whales Buy Heavily, Investors Bullish Amid ETF Development
According to an X post by Ali Martinez on February 22, Litecoin whales acquired 930,000 tokens in the past two weeks. This data reverberated substantial market optimism for the crypto, underscoring heightened buying pressure despite the broader market turbulence.
Notably, crypto whales are large-scale investors with considerable trading experience in the market. Their trade maneuver to accumulate coins surfaces as bullish news, underlining market confidence in the token’s potential to gain on the back of recent developments.
Canary Capital’s ETF Emerges On DTCC
The latest ETF development for the token has solidified hopes of an approval ahead. CoinGape reported that Canary’s LTC ETF appeared on the DTCC platform under the ticker LTCC this week. This saga has solidified investor bullishness as an exchange-traded product backed by the crypto may be available soon.
Also, renowned ETF analyst Eric Balchunas further anticipated that there is a 90% chance of approval in 2025. The Litecoin whale accumulations amid this bullish event have further boosted the coin’s market sentiment, indicating potential gains ahead.
LTC Price Eyes Rally?
However, despite the massive buying, LTC price tanked over 5% on Saturday, closing in at $128.13. The coin hit a bottom and peak of $123.93 and $139.86 in the past 24 hours. The weekly chart for the token also illustrated a 3% drop. This waning action primarily falls in with the broader crypto market volatility.
Nevertheless, renowned crypto trader Carl Moon took to X, revealing that a $143 price target looms for the token. As per Carl, LTC is forming a bullish flag on lower timeframes, signaling an uptrend ahead. The significant buying pressure brought by Litecoin whales further supports this bullish prediction.
Crypto market traders and investors thoroughly monitor the token, reflecting optimism amid recent ETF developments and strong whale support.
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.
Amidst the SEC’s positive approach to XRP exchange-traded funds (ETFs), anxiety is building around the potential resolution of the Ripple lawsuit. Notably, the recent settlement of the Coinbase case has fueled community optimism about a potential dismissal of the XRP lawsuit. According to legal expert Jeremy Hogan, a settlement in the Ripple vs. SEC case is possible as early as Q2 2025.
Will XRP Lawsuit be Settled by May 2025?
As the community awaits an imminent resolution in the XRP lawsuit, advocate Jeremy Hogan shared his insights. In an X post, Hogan stated that the Ripple vs. SEC case could witness a settlement by the first half of April or early May. However, he clarified that the prediction is merely his intuition and not based on any concrete evidence.
Hogan’s comments came in response to Good Morning Crypto host Johnny Krypto’s post. Addressing Hogan, Johnny Krypto shared a thread, seeking the lawyer’s opinion on the impending conclusion of the XRP lawsuit. The message read, “Do you think the XRP case can get dropped sooner than you originally thought or does May still feel right to you gut??
Coinbase Case Closure and XRP Lawsuit Settlement
In a surprising development, the US SEC agreed to drop the prolonged Coinbase lawsuit, marking a significant milestone in the crypto space. The move also highlights the SEC’s regulatory changes that visions the establishment of the US crypto environment.
Celebrating the significant development, Coinbase CEO Brian Armstrong posted on X that the platform reached an agreement with the SEC after “years of litigation, millions of your taxpayer dollars spent, and irreparable harm done to the country.”
Meanwhile, Jeremy Hogan sees the Coinbase suit dismissal with prejudice as a strong win, as it permanently closes the case. He means that there is no room for the SEC to refile the case.
Notably, as per Hogan’s words, the SEC’s bold move suggests they’re not waiting for Commissioner Atkins’ confirmation to take decisive action on crypto regulation. This implies the SEC might make more crypto-friendly moves even before Atkins takes office, potentially indicating an imminent XRP lawsuit settlement.
SEC’s XRP ETF Acknowledgements Spark Enthusiasm
Over the last few days, the SEC has taken significant steps towards potentially approving XRP ETFs. Particularly, the SEC acknowledged XRP ETF applications submitted by multiple asset managers including Grayscale, 21Shares, CoinShares, Bitwise, and Canary Capital.
This optimistic move, coupled with the SEC’s decision to drop the Coinbase case, has sparked speculations of an early XRP lawsuit settlement. Previously, Jeremy Hogan posited that the XRP lawsuit conclusion could be possible before the SEC’s approval of an XRP ETF.
Although the SEC’s ETF nod doesn’t assure approval, it has fueled community optimism about a potential ETF launch and lawsuit dismissal. As per wider speculations, with the SEC recognizing XRP ETF applications, a lawsuit dismissal is now within reach.
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.
The Pi coin finally launched on the mainnet today, which has already led to predictions on how high the crypto could rise following the launch. Now, crypto analyst Gem Hunter has provided a bullish outlook for the coin, suggesting that it could even surpass the XRP price after it gets listed on Binance.
Pi Coin Could Surpass XRP Price After Binance Listing
Gem Hunter recently suggested that the Pi coin price could surpass the XRP price after a potential Binance listing. In an X post, the analyst noted that Pi network’s chart doesn’t look bad at all and hinted that the current price was the bottom.
The analyst further remarked that the Pi coin had recorded almost $1 billion trading volume in eight hours despite listing on only a few centralized exchanges (CEXs). Gem Hunter stated that the real fun will start when Binance and other top crypto exchanges list Pi. As such, he urged market participants to buy the dip and hold.
The analyst’s accompanying chart showed that the Pi coin price could rally to as high as $2.8 when Binance and these top exchanges potentially list the coin. A rally to this price level could put Pi above the XRP price, which is currently trading at around $2.6.
It is worth mentioning that Binance is currently running a community poll on whether it should list Pi. Most community members have voted for the top crypto exchange to list the coin. As such, there is the possibility that Binance could list the crypto at some point, which would provide some bullish momentum for its price.
The Pi network mainnet officially launched today. Consequently, the Pi coin also went live on several exchanges, including OKX, and reached an all-time high (ATH) of $2.2 before witnessing a price correction.
XRP Price Could Surge Before Then
Crypto analyst Dark Defender recently predicted that the XRP price could surge to $3 soon enough, a move which would see the crypto surpass the projected $2.8 level for Pi coin. According to the analyst, XRP will see a break towards $2.77 first and then towards $3 “within hours.”
Meanwhile, in his analysis of XRP in the 12-hour time frame, crypto analyst Egrag Crypto noted that the coin has bounced off the low edge of the ascending triangle, showing bullish momentum. The analyst stated that targeting $2.83 is the next bullish milestone for XRP.
Egrag Crypto further remarked that a bullish signal will occur when XRP closes above the $2.90 and $3.10 range with confirmation. He claimed this would turn this range into strong support for a bullish continuation and a major milestone from a structural perspective.
The XRP price is already up today thanks to bullish fundamentals such as the SEC’s acknowledgment of the XRP ETFs and Hashdex’s XRP ETF, which is set to launch in Brazil.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
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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