Altcoin
DWF Labs Dumps 7 Mln TOKEN As TOKEN Price Jumps 29%
In a surprising move, DWF Labs has offloaded 7 million units of TOKEN just as the digital asset experienced a significant price surge of 29%. This large-scale sale comes at a pivotal moment, potentially impacting the market dynamics and investor sentiment around TOKEN. The timing of the sale is particularly noteworthy, as it coincides with an upward trend in TOKEN’s value, raising questions about the potential reasons behind DWF Labs’ decision to sell at this juncture.
Detailed Transaction Insights and Historical Context
According to on-chain analyst @ai_9684xtpa, DWF Labs deposited 7 million TOKENs to Gate.io three hours ago, a transaction valued at approximately $1.2 million. This recent activity is part of a broader trend, as DWF Labs has transferred a total of 25 million TOKENs to the centralized exchange over the past 30 days, amounting to $3.52 million. Such substantial movements of assets have likely contributed to market fluctuations, impacting both the price and trading volume of TOKEN.
Notably, DWF Labs had previously demonstrated strong support for TokenFi by committing to a $10 million investment in $TOKEN in March. This substantial investment underscored DWF Labs’ confidence in TokenFi’s ambitious vision within the digital asset sector. By injecting significant capital into $TOKEN, DWF Labs aimed to drive the growth and success of TokenFi, reinforcing its position as a dominant player in the industry. The contrast between their earlier commitment and the recent sale adds complexity to their investment narrative, prompting further scrutiny and analysis from market observers.
Also Read: Binance Lists Notcoin (NOT) Among 50 Crypto Pairs For Spot Copy Trading
Current Market Performance of TOKEN
As of today, the price of TokenFi (TOKEN) stands at $0.1745, with a 24-hour trading volume of $52.1 million. This marks a 28.11% price increase in the last 24 hours and a 15.86% increase over the past seven days. The Open interest of TokenFi has suref 57.92% with a valuation of $47.4 Million. The RSI (Relative Strength Index) stands at the 81.27 level signaling strong bullish presence.
With a circulating supply of 1.5 billion TOKEN, TokenFi’s market cap is valued at $259.8 million. This recent price surge has garnered significant attention from investors and market analysts alike, reflecting the growing interest and confidence in TOKEN’s potential.
Also Read: Toncoin (TON) Price Rallies To ATH: Further Gains or Decline?
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 crypto universe has concluded yet another week, primarily with riveting developments unfolding across the broader sector. Bitcoin (BTC) continues to pump, hitting a new ATH this week. Simultaneously, Ripple’s XRP garnered significant market attention, recording considerable gains. The broader market continues to leverage investor optimism post-U.S. elections that saw Donald Trump reelected as the president.
Here’s a brief collection of some of the top cryptocurrency market headlines that have significantly impacted investor sentiment over the past seven days.
BTC Hits New ATH Amid Bull Crypto Market
BTC price hit a new ATH near the $100K level this week, echoing a buzz across the broader sector. Notably, the flagship coin gained roughly 10% over the past week to hit an ATH of $99,655. Attributable to this bullish movement post-U.S. elections, Rich Dad Poor Dad author Robert Kiyosaki shared a bold prediction for the coin, anticipating its price to hit $13 million.
Simultaneously, the crypto also saw heightened institutional interest amid its bullish movement, underscoring the potential for further gains. Aligning with this heightened market interest, biopharmaceutical firm Hoth Therapeutics forged ahead with BTC buying plans, sparking additional optimism surrounding the crypto.
Meanwhile, Bitcoin miner MARA completed its $1 billion private offering this week, with some of the proceeds set to be used to buy more BTC. Overall, the flagship coin leveraged significant buying pressure this week, paving a bullish path for future movements.
Ripple’s XRP Steals Attention
On the other hand, XRP’s price witnessed gains worth 40% over the past week, cementing investor optimism amid a bullish digital asset sector. Notably, XRP whales accumulated nearly $526M worth of the token this week, indicating that the Ripple-backed coin could pump higher. Veteran trader Peter Brandt predicted amid this bullish movement that a parabolic rally for the crypto also lies ahead.
Further, Ripple CEO Brad Garlinghouse conveyed bullish sentiments on XRP and a possible end to the SEC lawsuit, primarily attributable to the newly appointed U.S. Treasury Secretary Scott Bessent. Simultaneously, the Ripple vs. SEC lawsuit saw the regulator and FINRA trying to bring “digital asset securities” claims. This mover comes against the backdrop of XRP’s rally to $1, with speculations of a looming $2 target on SEC Chair Garu Gensler’s exit.
Overall, these market updates have sparked significant investor enthusiasm over the crypto realm’s future action, with market watchers being optimistic.
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 analyst Behdark has predicted that the XRP price can reach $28. This prediction follows his Elliot Wave theory analysis, which also showed when the crypto will reach this double-digit price target.
When XRP Price Will Reach Double Digits
In a TradingView post, Behdark’s Elliot Wave theory analysis showed that the XRP price can reach double digits by 2026. The analyst’s accompanying chart showed that the first double digits target for XRP will be $15, after which the crypto could eventually rally to $28. Behdark also provided more insights into XRP’s current price action and why this rally could happen.
First, the analyst mentioned that the XRP price looks to be currently within a running triangle. In line with this, Behdark remarked that wave D might complete its movement by hunting the all-time high (ATH) at $3.84. He mentioned that there could be a price correction for wave E afterward.
Once that XRP price correction happens, Behdrak predicts the next move will be the post-pattern movement targeting a level above $15. This is where the price target of $28 comes into the picture, as the analyst’s accompanying chart shows it is a feasible target for the crypto, although it might not happen in this market cycle.
An XRP price rally to $28 would mean that the crypto would have a market cap of $2.8 trillion. However, Behdrak suggested that this was still feasible. He noted that his focus was on chart analysis and not fundamentals, even though fundamentals are reflected in the chart itself.
Meanwhile, the analyst told market participants that if a clear and identifiable pattern emerges when the XRP price reaches wave E of the triangle, they could position themselves for the main move to double digits.
A Confirmation Of This Double Digit Target
Crypto analyst Dark Defender also recently shared an Elliot Wave theory analysis, which showed that the XRP price could indeed reach double digits. Specifically, the analyst’s accompanying chart showed that XRP could rally as high as $18 when the wave 5 impulsive move occurs.
Interestingly, unlike Behdark’s chart, which showed that the rally to double digits would happen in 2026, Dark Defender’s chart showed that the rally to $18 could happen as early as mid-2025. Meanwhile, the analyst said that the XRP price is currently in the third wave, with the crypto expected to rally to $5 when this next impulsive move occurs.
Afterward, the XRP price is expected to witness a corrective move that will cause it to drop to as low as $4. The next impulsive move after this could send XRP to the $18 target.
At the time of writing, the XRP price is trading at around $1.55, up over 10% in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
A crypto trader made a $2.5M profit today by turning 13 SOL into 9,718 SOL through trading 76.46M FATHA tokens. The trader bought the tokens on Pump.fun, capitalizing on a rapid increase in FATHA’s market cap, which surged to over $60M. The trader sold the tokens at the peak, realizing a 750x return.
Trader Makes $2.5M Profit Trading FATHA Token
The crypto trader turned 13 SOL (around $3.3K) into 9,718.5 SOL, making a $2.5M profit by trading 76.46M Slopfather (FATHA) tokens. On November 23, the trader purchased the tokens on Pump.fun, and within 40 minutes, FATHA’s market cap surged to over $60M. After holding the tokens, the trader sold them at the highest point, securing a 750x return.
The trader capitalized on the rapid market shift and seized the opportunity to make a significant profit. As per solscan, 9,500 SOL was swapped for USDC and bridged to Ethereum, demonstrating how quickly substantial profits can be made in the volatile meme coin market. The trade reflects the growing influence of meme coins on the Solana blockchain.
On-chain data indicates that the wallet involved in this trade may belong to BT (@cooksassistant), who has traded 60 tokens over the past three days. With a win rate of 42.37%, BT has generated $2.7M in total profit.
What a lucky trader!!!
6 hours ago, this trader sniped 76.46M $FATHA for just 2.93 $SOL ($765).
Currently, these $FATHA are worth $2.7M. The sniper has made x3483.https://t.co/MVgcAnWR1R pic.twitter.com/seXfdgAq6r
— Onchain Lens (@OnchainLens) November 23, 2024
FATHA Token Surge and Solana’s Meme Coin Boom
Slopfather (FATHA) token has surged to $0.03841, with a market cap of $38 million, allowing the crypto trader to book a massive profit. Its 24-hour trading volume is $156 million, reflecting a 4000% increase in the last 24 hours. This dramatic rise shows the growing demand for meme coins in the crypto market.
Solana’s blockchain is becoming a top platform for meme coin launches. Projects like PNUT, WIF, GOAT, and BONK are leading the way. Additionally, Arthur Hayes’ endorsement of the Solana-based FLOWER coin boosted interest, driving the growth of meme coins on Solana.
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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