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Dogecoin Price Is Forming A Possible Ascending Triangle That Could Catapult Price To $0.56
The Dogecoin price chart hints at a potential ascending triangle pattern formation, which could propel its price to new levels. In an X (formerly Twitter) post, a crypto analyst revealed that if the popular meme coin succeeds in creating this bullish technical pattern, it could trigger a price surge to $0.56.
Dogecoin Price Eyes $0.5 Surge
According to crypto analyst Rekt Capital, Dogecoin is showing signs of forming a possible Ascending Triangle pattern on its price chart, signaling a potential breakout to a new price target at $0.56 target. Typically, an Ascending Triangle forms when a cryptocurrency breaches the upper horizontal trend line with a subsequent rise in volume. This technical indicator is often flagged as bullish as it forms during an uptrend as a continuation pattern.
Rekt Capital’s Dogecoin chart highlights the cryptocurrency’s price action this Q4, pinpointing a potential Ascending Triangle formation that appears to have started following DOGE’s recent price rally. Earlier this month, the Dogecoin price skyrocketed from around $0.2 to over $0.4, recording impressive gains as the demand for meme coins surged.
Based on the analyst’s statements, this bullish trend could be augmented if the Ascending triangle formation is confirmed. Rekt Capital has revealed that if the current pattern in the Dogecoin chart is indeed an Ascending triangle, the cryptocurrency could witness a significant price increase to $0.569.
The analyst also reveals that if Dogecoin successfully forms this triangle pattern, it could increase investor confidence and trigger money flow into other meme coins. Similar to how a Bitcoin price rally influences the trajectory of lower-cap altcoins, a Dogecoin price surge also impacts other meme coins in the market.
More often than not, meme coins like Shiba Inu (SHIB), Pepe (PEPE) and others tend to follow Dogecoin’s bullish trend, experiencing major price increases after the DOGE’s momentum diminishes slightly.
For the Ascending Triangle pattern to be confirmed, Rekt Capital has revealed that Dogecoin needs to close a daily candle above the resistance level at $0.43. This means the meme coin must trade above this level to move towards $0.56 or higher.
Analyst Says Dogecoin’s Real Target Is Above $2
Prominent crypto analyst Bluntz has disclosed that the real price target for Dogecoin this cycle is $2.2. The analyst acknowledged that the Dogecoin price could reach $1, but this target was a bit underwhelming for the popular meme coin.
Bluntz has also revealed that the DOGE/BTC pair has had an impressive performance this year, and he expects it to hit a new all-time high this cycle. Currently, at 0.00000436, the analyst projected a rise to 0.00002, marking a 373.68% increase at the 1.618 Fibonacci level.
Currently, the price of Dogecoin is $0.42, reflecting a 6.5% surge in the last 24 hours despite declining by over 6% in the past week. CoinMarketCap’s data has also revealed that the Dogecoin daily trading volume is up 82%, underscoring increasing interest and demand from investors.
Featured image created with Dall.E, chart from Tradingview.com
The XRP price has hit a $100 billion market cap again, further providing a bullish outlook for the crypto, which has been one of the best-performing crypto assets in recent times. Crypto analysts like Dark Defender have provided insights into what could come next for XRP.
XRP Price Could Rally To $5 Next
In an X post, crypto analyst Dark Defender suggested that the XRP price could rally as high as $5 on its next leg to the upside. This came as he noted that the first target of $1.8 for XRP in this bull run has happened, which led to the crypto hitting the $100 billion market cap mark.
With the first target out of the way, XRP could reach $5.8, which Dark Defender’s accompanying chart highlights as one of the median targets. Interestingly, the chart also highlights $18 as a median target, indicating that the crypto could reach this level at some point.
Dark Defender also recently used his Elliot Wave theory analysis to show how XRP could hit $18 in this market cycle. The chart showed this parabolic rally would occur on the Wave 5 impulsive move to the upside.
Meanwhile, in another X post, the crypto analyst warned about how critical the Fibonacci level at $1.8815 is in the short term. He noted that the XRP price touched $1.9508 and then bounced back to this Fib level. In line with this, he stated that the crypto must stay above $1.8815 for at least three candles.
According to Dark Defender, the first step is to stay 12 hours above this level, followed by a 3-day close above this level. A sustained close above this Fib level could confirm that as a significant support level and propel XRP to new highs.
Amid the recent XRP rally, it is worth mentioning that the crypto has flipped BNB to become the fifth-largest crypto by market cap. Dark Defender believes XRP could flip Solana next to become the fourth-largest crypto by market cap. The analyst had before now also boldly predicted that the crypto would flip Ethereum at some point.
Double Digits Price Target On The Horizon
Crypto analysts like Egrag Crypto and Mikybull Crypto have also suggested that a double-digit price target for the XRP price is on the horizon. In his analysis, Egrag Crypto stated that FOMO will ignite if XRP closes above the $2 level.
He added that if history repeats itself, XRP will likely trade in double digits between $20 and $27. From the accompanying chart, the analyst looks to be referring to the 2017 bull run, in which XRP recorded massive gains on its way to its current all-time high (ATH) of $3.8.
Crypto analyst Mikybull Crypto also stated in an X post that the XRP price is giving off 2017 rally vibes. Based on this, the analyst predicts that XRP will hit $2 and then experience a pullback before it continues its “vertical hated rallies” to a new cycle top of probably $10.
In another X post, he told market participants to watch what will follow after XRP breaks a new ATH. The crypto analyst added that the 2017 kind of massive rallies are about to be unveiled before everyone’s eyes. With XRP flying high at the moment, a recent CoinGape market analysis also raised the possibility of the crypto’s ATH being imminent.
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.
Orbs, a leading layer-3 blockchain infrastructure provider, celebrating significant milestones following its strategic partnership with THENA. The largest crypto exchange Binance listing THENA marked a pivotal achievement in the partnership, supported by Orbs’ investment and technical expertise. It has expanded its offerings, attracting a broader user base and driving innovation in decentralized finance.
Orbs and THENA Partnership Drives Innovation in DeFi
Orbs has strengthened its position as a leading blockchain infrastructure provider through its collaboration with THENA, a decentralized exchange built on the BNB Chain, as reported in the ORBS press release. Since the partnership began in March 2023, Orbs has supported THENA with strategic investments, advanced Layer-3 trading technologies, and targeted market expansion efforts.
This synergy has introduced advanced features like dTWAP, dLIMIT, and Liquidity Hub, boosting trading efficiency and liquidity management. The introduction of Perpetual Hub further enabled leveraged trading with reduced collateral, setting THENA apart in the DeFi space. A $600,000 investment also helped accelerate its roadmap and enhance long-term development.
A breakthrough in their efforts was THENA’s listing on the leading crypto exchange Binance. The accompanying airdrop campaign drew significant user interest, elevating the platform’s visibility and adoption. These advancements highlight the impact of their collaboration in reshaping decentralized finance and on-chain trading.
This partnership illustrates how forward-thinking technology and financial support can redefine blockchain innovation, showcasing the potential of next-generation infrastructure to transform DeFi ecosystems.
How Are the Tokens Performing in the Market?
THENA’s price is currently at $2.70, marking an 8% dip in the past 24 hours. However, the token has surged by 1,200% over the week following its Binance listing announcement. Its daily high and low range between $3.13 and $2.661, with a market cap of $212 million and trading volume reaching $452 million showcasing heightened investor interest.
On the other hand, ORBS price is trading at $0.037, with a 24-hour range of $0.033 to $0.03789. It has gained 12% in the past week and 18% over the month, indicating steady growth despite Binance delisting it during a routine review. ORBS boasts a market cap of $118 million and a trading volume of $43 million, reflecting continued demand for the Layer-3 blockchain project.
These contrasting performances underline THENA’s immediate impact from its Binance listing and Orbs’ sustained growth trajectory as a blockchain infrastructure provider. Both tokens demonstrate strong market activity, driven by their expanding ecosystems and technological advancements.
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.
XRP News: Against the backdrop of Ripple’s coin’s sustained price rally, a crypto market whale has again bagged massive amounts of the token, sparking investor optimism globally. Recent on-chain data indicated that the whale accumulated a whopping 120 million coins from a leading crypto exchange.
In turn, market enthusiasts are expecting further gains in the asset’s price, given recent legal maneuvers that sided with the American blockchain payments company.
XRP News: Whale Bags 120M Coins Amid Legal Developments
According to the tracker Whale Alert’s data, as of November 30, a crypto market whale accumulated 120 million coins worth $228.71 million from the crypto exchange Bithumb. Per the data, the unknown wallet address that made this accumulation was recorded as rPy…DMZ. Notably, the massive accumulation has ignited optimism surrounding the crypto’s future movements, underscoring increased market interest in the asset amid an ongoing bull run.
Notably, CoinGape Media reported that the lawsuit against the U.S. SEC could end under the “new SEC.” Primarily, with SEC Chair Gary Gensler announcing his exit and pro-crypto Donald Trump securing a win in the U.S. elections, market sentiments surrounding the XRP lawsuit have taken a paradigm shift. Attorneys Bill Morgan, Fred Rispoli, and Jeremy Hogan also revealed that the appeals are likely to get dismissed, hinting that the lawsuit could drop soon.
Simultaneously, the recent legal maneuvers in favor of Ripple have added to optimism on the asset’s future, further escorted by the abovementioned accumulation.
On the other hand, in another legal development, a recent California district court filing revealed that the court has granted the motion to amend the order pertaining to judgment and stay in the In re Ripple Labs litigation. Both parties in the lawsuit have agreed that there was no specific reason to delay the judgment in the lawsuit. Overall, these legal developments have emerged as notable XRP news, with the blockchain payments company’s native crypto experiencing a sustained price rally.
Market Value Reaches Nears $2
Riding bullish waves leveraging massive buying, XRP gained 20% to hit a 24-hour high of $1.95. The price is currently trading at $1.88. Notably, the weekly and monthly charts for the asset indicated gains worth 22% and 260%, respectively. This rising trajectory, amid legal developments and rising whale accumulations, has sparked bullishness among investors.
Simultaneously, Coinglass data indicated a 20% increase in the coin’s futures OI to $3.22 billion. Further, even the derivatives volume soared 127% to $25.65 billion. Overall, the derivatives data also indicated heightened investor interest in the asset.
In addition, an XRP price analysis by CoinGape Media indicated that the token is eyeing further gains as it surged past a five-year resistance level in market dominance. Overall, market watchers continue to eye the token bullishly, expecting further gains in light of the latest XRP news mentioned above and a potential RLUSD launch next month.
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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