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Dogecoin Vs. PEPE: Analyst Reveals Which Coin You Should Hold This Bull Cycle
The rivalry between meme coins is taking center stage once again. Max, a crypto analyst on X (formerly Twitter), has predicted a substantial price increase for Dogecoin (DOGE) and Pepe (PEPE) in the current bull cycle. The analyst has identified which popular meme coins are set to dominate the market and those worth holding for potential profits.
Pepe To Outperform Dogecoin This Bull Market
In his X post, Max drew parallels between the performance of Dogecoin and Pepe, two of the most popular meme coins in the market. Based on past market trends and price movements, Max projected that Pepe will likely outperform Dogecoin in this bull market.
Before delving deep into his analysis, the crypto analyst revealed that he categorized meme coins by their status, referring to them as “Alpha” and “Beta,” likely based on their strong market performance and popularity. He also shared a price chart of Pepe and Dogecoin, highlighting their market movements and forecasting their future price action.
Max disclosed that in the previous bull cycle, Shiba Inu (Beta) surpassed Dogecoin (Alpha) in performance and gains. He revealed that this development had marked the peak of the bull cycle, suggesting that the market had become overheated.
The analyst also disclosed that it was normal for a Beta coin to surpass an Alpha coin for short periods. However, if the outperformance is too significant, it could signal an impending collapse.
In the current bull cycle, Dogecoin is considered the alpha coin, while Pepe is identified as the Beta coin. Following previous market trends, the analyst predicts Pepe will “flip Dogecoin” and become the best-performing meme coin in this bull cycle.
Max also proposed that if Pepe outperforms Dogecoin, it could signal that the bull market may be nearing its end, suggesting it might be time to exit the market to avoid potential losses. However, until this point is reached, both meme coins are expected to rise together, meaning investors could hold Dogecoin or Pepe for potential gains during this bull cycle. Max has also stressed the need to carefully monitor the relative performance of Pepe (Beta) to Dogecoin (Alpha) as the bull market continues.
Analyst Predicts 940% Surge For PEPE
In another post on X, crypto analyst Jameson has projected substantial price increases for Pepe and Shiba Inu this year. The analyst suggested that Coinbase’s recent listing of Pepe and SHIB on its platform could serve as a bullish catalyst for both meme coins.
He presented a price chart that shows how much Pepe and Shiba Inu are expected to surge this cycle. Jameson has forecasted that Pepe could witness a 942.7% increase from its current price of $0.00002 to $0.00019. On the other hand, Shiba Inu could also increase by 942.7% to reach its previous all-time high of around $0.00008.
While he remains optimistic and confident about these price surges for Pepe and SHIB, Jameson has acknowledged that these bullish moves will take time to unfold fully.
Featured image created with Dall.E, chart from Tradingview.com
The XRP price has witnessed significant gains today, providing a bullish outlook for the crypto even as the broader crypto market witnesses a retracement led by Bitcoin. With XRP looking so bullish, crypto analyst Dark Defender has predicted that the crypto could reach $5 by December.
Why XRP Price Is Up Today
The XRP price is up over 6% today, thanks to several recent developments. First, XRP whales are actively accumulating the crypto token, indicating a bullish sentiment among these investors toward the coin. CoinGape reported that XRP whales bought over 250 million coins over the weekend.
This accumulation trend has brought about significant buying pressure for XRP, contributing to today’s price surge. Furthermore, activity in the derivative market indicates that investors are bullish on the crypto.
Coinglass data shows that the XRP futures open interest has surged on the top exchanges, with traders betting massively on the crypto. For instance, the open interest on ByBit has surged by almost 5% to $682 million. The open interest on OKX is also up by 8% and has risen to $126 million. Thanks to this, XRP’s open interest recently surged to a record high of over $2.50 billion.
Another reason why the XRP price is up is its fundamentals. Ripple has recently secured several partnerships that will increase the crypto’s utility. Today, Ripple announced the first tokenized money market fund on the XRP Ledger (XRPL).
With such a bullish outlook for XRP, crypto analyst Mikybull Crypto predicted that the coin could reach $2 this week, which would be a great way to close the monthly candle. Crypto analyst CrediBULL Crypto also suggested that the $2 target before the end of this month was possible.
In an X post, he said that XRP looks “fantastic” at its current levels as long as the Bitcoin price doesn’t “ruin” the party. He remarked that he expects a move to the range highs above $1.60 at the minimum. The crypto analyst added that this could also be the start of a larger move to the upside.
A Rally To $5 By December Is Possible
In an X post, crypto analyst Dark Defender suggested that the XRP price could rally to as high as $5 by December. This came as he provided an Elliot Wave theory analysis of the crypto. His accompanying chart showed that $5.8 was the last target in the Wave 5 impulsive move.
Providing more insights into XRP’s current price action, Dark Defender noted that the crypto has strolled around the Fibonacci level of $1.44 for a few days. He added that the crypto is targeting the range between $1.88 and $2.17 with the 5th sub-wave.
Based on the chart he shared, a rally to these levels will pave the way for a further rally to the $5 target. However, Dark Defender said that XRP must first close above $1.44 for at least the next two days to confirm these price rallies.
Based on his Elliot Wave theory analysis, the analyst had also recently predicted that the XRP price could hit $18 by next year. Meanwhile, crypto analyst Egrag Crypto recently predicted that XRP could rise to as high as $27 depending on the Bitcoin price.
In an X post, Egrag Crypto stated that XRP will reach $27 if Bitcoin hits $250,000. However, the analyst warned the crypto must close above the wick at $0.00004270 on the XRP/BTC chart to reach the double-digit target.
He added that the ultimate goal is a close above $0.00011. Interestingly, XRP could soon reach double digits, as Egrag Crypto predicts that the crypto will be $13.2 when the Bitcoin price is $120,000.
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.
Crypto tokens WHY and CHEEMS garnered significant investor interest on Monday as digital asset exchange behemoth Binance issued a vital update on them. Notably, the crypto exchange revealed that it is launching USD-margined perpetual contracts for these assets, generating market optimism surrounding the coins’ future price action. However, with the coins trading in the red at the time of reporting, current investor sentiments remain uncertain despite the optimistic announcement.
Binance Unveils New Offerings For WHY & CHEEMS Sparking Discussions
Binance revealed in an official announcement on November 25 that it is launching perpetual contracts for WHY and CHEEMS on the same day. As per the announcement, the crypto exchange is launching 1000WHYUSDT perpetual contract today at 11:30 UTC. The platform’s colossal user base remains primed to enjoy up to a maximum of 75x leverage trading the asset.
Simultaneously, the announcement revealed that the exchange is launching 1000CHEEMSUSDT perpetual contract on the same date at 11:45 UTC. Users on the platform can enjoy a maximum of 75x leverage trading the asset. Further, the leading crypto exchange revealed that it would support ‘Multi-Assets Mode’ for the abovementioned assets, offering risk-reduction opportunities with better liquidation management for users. Overall, the announcement appears to have set off optimistic waves for the tokens’ future price actions, paving the way for increased money inflow with investor interaction.
How Are The Coins Performing?
Despite the optimistic futures listing announcement, the cryptos defied usual market sentiments and plunged into the red territory. WHY price tanked nearly 11% intraday and is sitting at $0.0000002554. The coin’s 24-hour low and high were $0.0000002337 and $0.0000003843, respectively.
Similarly, CHEEMS price crashed 30% intraday despite the listing to trade at $0.0000007016. Its 24-hour low and peak were $0.0000006198 and $0.000001534, respectively. Notably, these slumping actions have raised uncertain investor sentiments about the future price of the coins despite the perpetual contract launch.
Besides, it’s noteworthy that similar past chronicles were reported to have a bullish impact on tokens, adding a layer of intrigue to the matter. Solana meme coin SLERF noted a 55% uptick in its value with Binance’s futures listing.
Simultaneously, even HIPPO price soared remarkably with its futures listing on the same exchange. In light of these uncertain movements, crypto market watchers continue to monitor the tokens, being shrouded in an enigma over future movements.
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.
Crypto payments firm Ripple on Monday announced its first tokenized money market fund in partnership with FCA-regulated crypto exchange Archax and UK asset manager abrdn. The tokenized money market fund will be available on the XRP Ledger (XRPL) blockchain. Traders reacted immediately as XRP price saw a 6% jump today.
XRP News: Ripple, Archax Announces abrdn Fund Tokenization
Archax has expanded its tokenized funds offering with UK asset manager abrdn, as per a press release by Ripple on November 25. A money market fund from abrdn is introduced in tokenized form on the XRP Ledger (XRPL). The fund comprises part of abrdn’s £3.8 billion US dollar Liquidity Fund (Lux) fund.
Ripple said is the first tokenized money market fund on the XRPL. This will help establish the leading blockchain for real-world asset (RWA) tokenization and institutional decentralized finance (DeFi).
The company revealed that tokenized assets market is projected to reach $16 trillion by 2030. This milestone will unlock cost savings and settlement efficiencies by deploying capital markets infrastructure on the XRPL.
Today, in partnership with @ArchaxEx and @abrdn_plc, we’re excited to announce the first tokenized money market fund on the XRP Ledger.
With $16T in tokenized assets projected by 2030, this milestone unlocks cost savings and settlement efficiencies by deploying capital markets…
— Ripple (@Ripple) November 25, 2024
Crypto Payments Giant Deepens Partnership With Archax
Ripple disclosed allocating $5 million into tokens on abrdn’s Lux fund. This is part of a larger fund that the company will allocate to RWAs on the XRPL provided by a range of asset managers.
“The arrival of abrdn’s money market fund on XRPL demonstrates how real-world assets are being tokenized to enhance operational efficiencies, while further reinforcing the XRPL as one of the leading blockchains for real-world asset tokenization,” said Markus Infanger, Senior Vice President, RippleX.
In June, Archax and Ripple partnered to bring hundreds of millions of dollars of tokenized RWAs onto the XRP Ledger (XRPL). Ripple CEO Brad Garlinghouse said it will help establish the XRPL as one of the leading blockchains for RWA tokenization.
Last week, Archax added State Street, Fidelity International and Legal & General Investment Management (LGIM) funds to its tokenized RWA offerings. These tokenized funds will initially be available on XRP Ledger (XRPL), Hedera and Arbitrum blockchains.
XRP price jumped 6% in the past 24 hours, with the price currently trading at $1.49. The 24-hour low and high are $1.31 and $1.54, respectively. Furthermore, the trading volume has increased slightly, indicating a continued interest among traders. Total XRP futures open interest hit a new all-time high valued at $2.60 billion as whales purchased over 250 million coin during the weekend.
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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