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Dogecoin Price Signals Another Golden Gross On The 4H Chart, Here’s The Next Target

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3 hours ago

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The Dogecoin price is once again showing signs of a strong bullish run. Particularly, a golden cross has emerged on the Dogecoin 4-hour price chart, giving rise to what could be the continuation of bullish momentum in the coming weeks. The emergence of this golden cross suggests that buyers are now in control, and the meme coin could well be on its way to repeating its early November rally.

Golden Cross On The Dogecoin Price Chart

In technical analysis, a golden cross is a pattern where a short-term moving average crosses above a long-term moving average. This golden cross was highlighted for the Dogecoin price by crypto analyst Trader Tardigrade, known for his technical insights on social platform X. According to the analyst, this golden cross was observed in the Moving Average Convergence Divergence (MACD) indicator below the zero line.

When this occurs in the MACD under the zero line, it indicates a reversal from bearish to bullish sentiment, setting the stage for upward price action. According to the 4-hour Dogecoin price chart Trader Tardigrade shared on social media platform X, this isn’t the first occurrence of such a golden cross in recent weeks. Particularly, Dogecoin had a similar MACD golden cross in the first week of November. At this time, the Dogecoin price was trading around the $0.15 mark on November 4. Following this golden cross, a bull run was ushered in, leading to a strong rally that first peaked at $0.426 on November 12. This comes out to a price increase of about 184% in eight days.

The historical performance following the November golden cross has led to heightened anticipation for what might unfold this time. If Dogecoin’s price were to follow a similar trajectory, it could potentially achieve a dramatic rally in the coming days. Based on projections shared by Trader Tardigrade and the price patterns seen in November, this rally could push Dogecoin toward a target price of $1 by December 7.

Dogecoin price
Source: X

Key Levels To Watch On Dogecoin’s Path To $1

As Dogecoin gears up for this anticipated rally, certain resistance levels must be cleared to achieve the ambitious $1 target. The immediate resistance sits at $0.43, and then the current 2024 high of $0.4759. Breaking above this level would see the Dogecoin price trading at its new highest levels in three years.

From there, sustained momentum and buying pressure could drive Dogecoin toward $0.50 and the current all-time high of $0.7316 before eyeing the $1 mark. On the downside, support levels at $0.37 and $0.35 will be critical to maintaining bullish sentiment, especially if the golden cross fails to materialize into the projected rally.

At the time of writing, the Dogecoin price is trading at $0.404, up 9.8% from a November 26 low of $0.3679.

Dogecoin price chart from Tradingview.com
DOGE price at $0.41 | Source: DOGEUSDT on Tradingview.com

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



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Dogecoin To $2 As Elon Musk and Vivek Ramaswamy Proposes DOGE Reforms

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49 minutes ago

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November 30, 2024

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Elon Musk and Vivek Ramaswamy will meet with Republican House and Senate members next week, revealed House Speaker Mike Johnson. The Department Of Government Efficiency (DOGE) will propose key proposals to reform government regulations and agencies. Dogecoin price awaiting a breakout to $1 and further could witness a massive rally.

DOGE Lead Elon Musk and Vivek Ramaswamy Capitol Hill Visit

Elon Musk and Vivek Ramaswamy are heading to Capitol Hill next week to present key reform proposals of the Department of Government Efficiency (DOGE).

House Speaker Mike Johnson confirmed that Musk and Ramaswamy will meet Republican House and Senate members on December 5. Republican Party won the majority in both chambers of the US Congress in elections. The crypto industry supported Donald Trump and the candidates, triggering a BTC rally toward $100K and Dogecoin price to hit 3-year high.

Trump said DOGE will pave the way for the administration to dismantle governmental bureaucracy, slack excess regulations, cut expenditures, restructure federal agencies and more.

Elon Musk posted on November 30 about how the Biden administration impacted economic and business growth. Vivek Ramaswamy and Musk slammed the government as people and businesses were ‘debanked’ forcibly. Crypto executives including David Marcus, who led Facebook’s Libra project, revealed how the government politically killed Diem stablecoin.

Analysts Predict Dogecoin Rally to $2

Dogecoin rallied massively as President-elect Trump and Elon Musk promised major governmental transition and crypto-friendly regulations.

DOGE price jumped 6% in the past 24 hours, with the price currently trading at $0.42. The 24-hour low and high are $0.400 and $0.437, respectively. Furthermore, the trading volume has increased by over 80% in the last 24 hours, indicating massive interest among traders.

In the derivatives market, total Dogecoin future open interest climbed 6% in 4 hours and 15% in 24 hours, per Coinglass data. The 8.85 billion DOGE futures OI are now valued at $3.80 billion, signals support for a further upside move.

Analyst Bluntz Capital predicted a 420% upside for Dogecoin price to $2.2. He added that $1 will hit soon as DOGE/BTC pair chart targets massive rally.

Dogecoin Dogecoin

Rekt Capital, one of the top analysts, said Dogecoin price chart formed an ‘ascending triangle’ pattern on the daily chart. This means the meme coin could enjoy another round of money flow.

He added that DOGE needs to close the week above $0.43 to confirm a breakout to $1. Notably, DOGE is already forming a ‘golden cross’ on the 4-hour chart, which could trigger a rally to $2.

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Varinder Singh

Varinder has over 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently leading the news team to cover latest updates and developments in the crypto industry.

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 Holds $96K, XRP Climbs 17%, ENS Surges 27%

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4 hours ago

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November 30, 2024

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Cryptocurrency Prices Today, November 30: The broader market witnessed mixed price action, sparking investor speculation globally. Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) continued trading within tight ranges. XRP emerged as the fastest gainer among the top 10 cryptocurrencies, surging by 17% in the last 24 hours and climbing to become the fifth-largest cryptocurrency by market cap. ENS token outperformed as the top gainer, recording a remarkable 27% jump.

The global crypto market cap rose by 1% over the past 24 hours, reaching $3.38 trillion. Meanwhile, total trading volume increased by 11%, now at $170 billion. The Fear and Greed Index currently sits at 82/100, indicating extreme greed in market sentiment. Let’s explore the price movements of top cryptocurrencies by market cap on November 30.

Cryptocurrency Prices Today: BTC, ETH, SOL Trade Steady, XRP Jumps 17%

Today cryptocurrency prices exhibit mixed trends. BTC continues trading between the $95K to $98K range, striving to breach the $100K mark. Solana and Ethereum also remain range-bound, reflecting a steady market. Top meme coins like DOGE and SHIB display mixed performances. Meanwhile, XRP leads the top 10 cryptocurrencies, emerging as the highest percentage gainer.

Bitcoin Price Today

Bitcoin (BTC) price has traded flat over the past 24 hours, currently at $96,660. Its 24-hour low and high stand at $95,614 and $98,693, respectively, reflecting its consistent range-bound movement in recent days.

The cryptocurrency boasts a market cap of $1.91 trillion and a 24-hour trading volume of $54 billion. BTC’s market dominance has slightly dropped to 56.56%, indicating some shifts in market dynamics.

Additionally, Rich Dad Poor Dad author Robert Kiyosaki has forecasted that Bitcoin will soon surpass $100,000. He emphasized that such a surge could make it increasingly difficult for the middle class to invest in Bitcoin.

Ethereum Price Today

Ethereum (ETH) price is trading at $3,631, reflecting a 1% increase in the past 24 hours. Its 24-hour low and high stand at $3,538 and $3,648, respectively, indicating relatively stable price action.

With a market cap of $437 billion and a 24-hour trading volume of $29 billion, ETH remains the second-largest cryptocurrency. Its market dominance is at 12.93%, showcasing its continued importance in the cryptocurrency market.

Moreover, the Ethereum Foundation has invested a substantial investment into zkVM (zero-knowledge virtual machine) technology. This move underscores its dedication to advancing blockchain scalability and innovation.

Solana Price Today

Solana (SOL) price is trading at $241, reflecting flat movement over the last 24 hours. Its 24-hour low and high are $237 and $246, respectively, showing the coin’s persistent range-bound behavior for over two weeks.

With a market cap of $114 billion and a 24-hour trading volume of $4 billion, SOL remains the fourth-largest cryptocurrency by market capitalization. Notably, Solana has surpassed Ethereum in monthly fee generation, achieving a significant milestone in the blockchain space.

Recent data reveals Solana generated $183.46 million in monthly fees, slightly ahead of Ethereum’s $181.42 million for the same period. Additionally, CoinGape Media’s recent analysis predicts a potential price surge for SOL, estimating it could reach $1,300 in the near term.

XRP Price Today

XRP emerged as the top gainer among the top 10 cryptocurrencies, surging by 17% in the past 24 hours. Its price is currently trading at $1.78, with a 24-hour low of $1.54 and a high of $1.85. This impressive rally has helped XRP surpass BNB, making it the fifth-largest cryptocurrency by market cap.

With a market cap of $101 billion and a 24-hour trading volume of $16 billion, XRP remains a key focus in cryptocurrency prices today. The surge in XRP’s value highlights growing interest and momentum in the market.

In addition, Ripple Labs is preparing to launch RLUSD, a native stablecoin on the XRP Ledger, by next week. This move signifies Ripple’s continued innovation and expansion within the blockchain ecosystem.

Meme Coins Performance Today

Dogecoin (DOGE) price has seen a 3% increase in cryptocurrency prices today, currently trading at $0.4195. This positive movement comes amid growing speculation around a potential Dogecoin ETF, with expectations that crypto-friendly policies and DOGE’s recent price surge could lead to approval by 2025.

Meanwhile, Shiba Inu (SHIB) is trading flat today at $0.00002581, showing little change in the last 24 hours. Despite this, SHIB has gained significant attention recently, with a notable 200% surge in value over the past year, signaling strong community backing and potential for further growth.

In addition, other popular meme coins like PEPE, BONK, and WIF are trading flat to a 1-2% gain in cryptocurrency prices today. This reflects overall stability in the meme coin market, as these coins continue to show consistent, modest movements amidst broader market trends.

Top Cryptocurrency Gainers Prices Today

Ethereum Name Service

ENS price is currently trading at $42, reflecting a 27% gain in the last 24 hours. Its 24-hour low and high are $32.27 and $43.47, indicating strong price movement.

In addition, BitMEX co-founder Arthur Hayes recently accumulated ENS tokens, which has boosted market confidence. This significant investment highlights growing interest and potential in ENS, reinforcing its upward momentum.

Core

Core (CORE) price is currently trading at $1.40, reflecting a surge of 25% over the past 24 hours. This makes it the top gainer for today, with a 24-hour low and high of $1.09 and $1.49, respectively.

With a market cap of $1.3 billion, CORE continues to gain attention, showing strong upward momentum in the current market conditions. Its impressive price movement highlights growing investor interest and confidence in the token.

Top Cryptocurrency Losers Prices Today

MANTRA

MANTRA (OM) price is currently trading at $3.445, reflecting a 5% decline in the last 24 hours. Its 24-hour low and high are $3.40 and $3.65, indicating some price volatility during this period.

Raydium

Raydium (RAY) price is trading at $5.60, showing a 4% decline in the last 24 hours. Its 24-hour low and high are $5.53 and $5.84, reflecting a slight price decrease.

On the other hand, cryptocurrency prices today are showing bullish momentum across the broader market. In the past hour, Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) have all seen gains, indicating a positive short-term trend for these major cryptocurrencies.

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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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Shiba Inu Burn Rate Sees Massive 2,296% Spike In One Day, Are The Bulls Back

Published

6 hours ago

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November 30, 2024

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The broader crypto market has witnessed a massive surge in the Shiba Inu burn rate, with the metric skyrocketing by 2,296% in just one day. This remarkable surge reflects the community’s desire to decrease the overall supply of Shiba Inu and possibly induce a price increase. With Shiba Inu showing signs of a strong revival, this could spark a new bullish phase for the popular meme coin.

Shiba Inu Burn Rate Skyrockets 

The Shiba Inu burn mechanism is vital to its deflationary strategy, which aims to trigger token scarcity by permanently removing SHIB tokens from circulation. According to new data from the  Shibburn, a burn portal specifically for the SHIB ecosystem, burn rates have increased by a whopping 2,050.95% in the last 24 hours. 

This massive surge in the Shiba Inu burn rate has resulted in 1.28 billion SHIB tokens being permanently removed from circulation. Such a significant increase in token burns is often linked to the community, as members of the Shiba Inu ecosystem have constantly advocated for larger token burns. 

Following Shibburn’s burn update on X (formerly Twitter), it can be seen that millions of tokens are being sent to dead wallets every hour. This surge in burn rate marks a significant milestone in the SHIB community’s efforts to reduce supply and potentially boost the value of the meme coin.  

Among the most significant contributors to this recent spike in SHIB burn rate is Shibtoshi, the founder of SquidGrow, a utility meme coin. Lola, a popular Shiba Inu community member, revealed on X that Shibtoshi had burned over 1 billion SHIB tokens, valued at $25,633. This substantial token burn shows SHIB supporters’ strong commitment to the meme coin.

While a spike in SHIB’s burn rate may not immediately trigger a price increase, it can influence the market’s sentiment and induce scarcity, which is important for the sustainability of the ecosystem and for the long-term growth of the meme-based token. 

Are Bulls Ready To Take Charge?

With the increase in the Shiba Inu burn rate, it appears that bulls are ready to retake charge, potentially triggering a bullish trend reversal for the meme coin. 

At the time of writing, the price of SHIB is $0.000025, reflecting a 3.38% surge over the past week, according to CoinMarketCap. The popular meme coin experienced a major bull rally earlier this month, recording double-digit gains as it trailed the Dogecoin price surge.

Factors like broader market sentiment, post-election crypto rally, and the increased demand for meme coins have pushed the Shiba Inu price upwards. Moreover, as SHIB burn activity rises, this could serve as another bullish catalyst for the meme coin. 

Shiba Inu
Source: X

Adding to the optimism, analysts like ‘Shib Spain’ on X have forecasted a significant price breakout for SHIB. He shared a price chart suggesting that if the meme coin can break out of its current triangle pattern, it could potentially reach a price high of $0.000038. 

Shiba Inu price chart from Tradingview.com
SHIB price follows market sentiment | Source: SHIBUSDT on Tradingview.com

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



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