Altcoin
Elon Musk’s ‘The Dogefather’ Post Sparks DOGE Price Rally
DOGE News: Market sentiments orbiting Dogecoin (DOGE) price appear to have taken a paradigm shift on Thursday, turning bullish against the backdrop of on-chain data and Elon Musk’s comments. Crypto market analyst Ali Martinez revealed that Dogecoin whale accumulations soared remarkably in recent days as over 1.40 billion tokens were sacked. Simultaneously, the dog-themed crypto’s price also topped the crucial resistance level of $0.111 lately, solidifying a bullish stance amid Musk’s ‘Dogefather’ comments.
DOGE News: Elon Musk Posts “Dogefather,” Whale Accumulations Soar
American billionaire Elon Musk today took to X, posting a picture of the dog behind Dogecoin, saying ‘Dogefather.’ This development, in light of the rising Dogecoin whale accumulations and the token’s price upswing past its resistance, has garnered additional investor curiosity surrounding the digital asset.
According to whale data streamlined by Ali Martinez on X, dated September 26, DOGE whales have made news, sacking over 1.40 billion Dogecoin tokens in the past 48 hours. These massive accumulations boast a total market value of approximately $140 million. Notably, the surge in whale accumulation underscores a bullish sentiment for the coin prevailing within the market.
Simultaneously, in another post by the crypto analyst, it was pointed out that Dogecoin price has sprinted past the crucial resistance of $0.111. Roughly 62K addresses hold over 36 billion DOGE on this resistance level. Concerning this, should the dog-themed meme coin hold a break above the mentioned resistance, the analyst confirms a bullish breakout ahead.
DOGE Price Soars
At press time, Dogecoin price rested at $0.1147, up nearly 5% in the past 24 hours. The coin’s intraday low and high were recorded as $0.1071 and $0.1146, respectively. The coin’s rising movement falls in line with the broader meme coin sector’s gains. Notably, SHIB, PEPE, and WIF prices gained nearly 8%-15% today. Meanwhile, it’s also worth noting that the coin today leverages considerable buying pressure brought upon by the massive whale accumulations.
Simultaneously, Coinglass data today illustrated a 12% jump in Dogecoin’s futures OI to $600.32 million. Moreover, the derivatives volume surged nearly 34% over the past day to $1.39 billion. Altogether, market stats hint that the coin is currently on an uptrend. The recent bullish on-chain stats have emerged as noteworthy DOGE news amid the token’s price upswing and Elon Musk’s recent comments.
Additionally, crypto market analyst Mikybull Crypto took to X, stating that “DOGE final phase expansion is about to begin for this cycle.” A recent Dogecoin price analysis by CoinGape also solidifies optimism for the same, as the project founder vows never to create any other coin. Overall, the meme token currently rides bullish waves across the vast sea of digital assets.
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.
Recent crypto whale metrics surrounding DeFi tokens have garnered immense investor optimism, suggesting that price gains for some coins are imminent despite the ongoing market uncertainty. Whale data on Thursday, April 17, indicated that large-scale investors stacked over $20 million in AAVE and UNI. These accumulations have ignited a bullish market torrent, underscoring buying pressure on the assets despite the broader market slump.
Crypto Whales Stack $20M In DeFi Coins Igniting Optimism
According to the data from Spot On Chain, crypto whales are quietly accumulating DeFi tokens via OTC. As per the data, two fresh wallets recently scooped up a total of $20.11 million worth of the abovementioned tokens.
The wallet address “0x3bb..” bought $4.28 million worth of UNI from Cumberland. Further, the same wallet and the address “0x4f7..” collectively bagged $15.83 million worth of AAVE from the same OTC exchange. These massive accumulations have suggested that price gains lie ahead for the DeFi cryptos.
For context, usual market sentiments remain highly bullish in the wake of such whale accumulations, signaling market confidence and buying pressure on an asset. So, traders and investors anticipate price gains in these DeFi tokens shortly.
How Are The Coins Performing Today?
AAVE price was up by roughly 3.5% at the time of reporting, exchanging hands at $138.81. The DeFi token gained after hitting a bottom of $130.43 over the past day. Notably, this rising action potentially aligns with broader trends and the crypto whales’ significant buying.
Also, Coingape has reported that the token’s community proposed a major AAVE buyback plan and liquidity upgrade the previous month. This upgrade aims to uplift the coin’s market and price dynamics. The whale accumulation, in turn, falls in line with this development.
On the other hand, UNI price was up by roughly 2.5% and traded at $5.27. The DeFi crypto hit a low of $5.05 over the past day.
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.
While the XRP lawsuit is reaching its closing stages, there are a few loose ends that parties are racing to tie up. Digital assets lawyer James Farrell notes that Ripple Labs will pursue an indicative ruling to ease its future IPO proceedings. However, internal processes at the Securities and Exchange Commission (SEC) may see the loose ends become a knotty issue for Ripple Labs.
Ripple Is Chasing An SEC Settlement And An Indicative Ruling
According to crypto lawyer James Farrell, Ripple and the US SEC have to sidestep a raft of hurdles to reach the final resolution in the XRP lawsuit. Farrell revealed via an X post that Ripple Labs is pursuing a settlement with the SEC while having its sights on an indicative ruling from Judge Torres.
Parties are taking a breather from legal proceedings after the US Court of Appeals granted a joint motion to suspend appeals. As parties sheath their swords and head to the negotiating table, Farrell says Ripple is tipped to table a settlement offer.
Furthermore, Ripple is expected to ask the District Court to issue an indicative ruling, seeking for Judge Torres to modify her judgment. Per Farrell, Ripple wants a modification to allow it to carry out private sales of XRP ahead of a Ripple IPO launch date.
“Why do they want it? Because without it, the possibility of an IPO in the next 3+ years is basically zero,” said Farrell. “So while the cool kids are going public, Ripple practically cannot.”
A Complicated Administrative Process In The XRP Lawsuit
According to the legal expert, the process will involve Ripple submitting a settlement offer and a request for an indicative ruling. Farrell notes that Ripple’s legal team can submit both requests to the SEC jointly or separately.
He notes that the settlement is a low-hanging fruit for Ripple, but the indicative ruling may be a knotty issue for parties in the XRP lawsuit. If the SEC assents to the settlement, Ripple will still have to file a motion before Judge Torres, with the expert forecasting a six-month time frame.
After her decision, parties may head to the appellate court as the appeal is still subsisting, and file a voluntary dismissal. Farrell predicts the process at the appellate court to last for one month.
If Judge Torres denies the motion to modify the injunction, Farrell notes that the parties will head back to the Appeal Court with the argument on appeal potentially extending to January 2027.
Following the pause in legal proceedings in the XRP lawsuit, an analysis tips $2 as the XRP price floor for a parabolic rally.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
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.
A DOGE whale has drawn the crypto community’s attention following a recent transfer involving millions of the meme coin. This development comes as crypto analyst Master Kenobi predicted that a Dogecoin price breakout will happen “within hours.”
DOGE Whale Moves 478 Million Coins As Dogecoin Price Eyes Breakout
Whale Alert data shows a DOGE whale moved 478 million coins worth $72.9 million from an unknown wallet to another unknown wallet, hinting at active accumulation from this investor. Other whales also look to be actively accumulating, as crypto analyst Ali Martinez revealed that DOGE whales bought over 800 million coins in 48 hours.
This accumulation comes amid Master Kenobi’s prediction that a Dogecoin price breakout will happen within hours. His accompanying chart highlighted an ascending rectangle, from which the breakout could occur. The analyst further remarked that the breakout will also likely surpass the downtrend line.
The crypto analyst stated that this is arguably the most significant event for DOGE this year so far. He added that the Dogecoin price’s peak is anticipated around late May to early June, aligning with the BNB price and other major altcoins.
Meanwhile, his accompanying chart also showed that Dogecoin could rally to as high as $0.8 if it reaches the upper boundary of this rectangular channel.
Martinez also recently predicted that the top meme coin could soon reach $0.29. He stated that price needs to hold the key support at $0.13 and sustain a break above $0.17 to reach this level.
More Bullish Outlook For DOGE
In a series of X posts, crypto analyst Trader Tardigrade provided a bullish outlook for the Dogecoin price. In one post, he stated that DOGE is breaking out of a falling wedge pattern on the 1-hour chart. He added that DOGE’s Relative Strength Index (RSI) also shows a breakout after hitting the oversold zone.
In another post, the crypto analyst stated that Dogecoin is forming a prolonged symmetrical triangle. Trader Tardigrade remarked that the longer the consolidation within the triangle, the stronger the momentum builds, leading to a higher pump for the DOGE price.
His latest X post also showed that the Dogecoin price was eyeing a rally to the $0.8 target, just like Master Kenobi predicted.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. 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, a traveler 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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