Altcoin
This Crypto Analyst Correctly Called The Dogecoin Price Crash, Here Are His Targets
The Dogecoin price is currently correcting after two weeks of intense price upticks that saw it reach $0.426 for the first time since its massive 2021 bull run. However, as is normal after such a crazy rally, the Dogecoin price now seems to be undergoing a brief correction as a few holders start taking profits or exiting their positions overall. Notably, the Dogecoin price is down by 8.5% in the past 24 hours and 13% since it reached $0.426.
Interestingly, this correction was called by a crypto analyst on social media platform X. According to crypto analyst Kevin, recent Dogecoin price action has led to the creation of a weird Dogecoin symmetrical triangle pattern, which could either lead to a correction or a continued upside move.
Analyst Says Symmetrical Triangle Favors Price Correction
Dogecoin has begun consolidating, which is quite normal before the continuation of a rally. As crypto analyst Kevin noted using the 1-hour candlestick timeframe, Dogecoin has been consolidating since November 12. This consolidation has been characterized by the creation of lower highs and higher lows, giving rise to a symmetrical triangle pattern.
Considering that it is coming from a bullish move, the symmetrical triangle has the highest chance of breaking to the upside. However, the analyst noted that there’s a higher chance of correction, especially due to the daily Relative Strength Index (RSI) signalling an overbought condition above 90. At the time of his prediction, Dogecoin was trading around $0.39. Since then, its price has declined further, reinforcing the case of a correction.
In the event of continued downward movement, Kevin identified a key support zone between $0.30 and $0.26, which aligns with the golden pocket retracement levels. This range represents a potential 30-40% correction from Dogecoin’s recent top at $0.426. “That’s a 30-40% correction from the local top, which in a bull market is a perfect size correction,” he said.
Keeping in mind the lingering bullish sentiment, Kevin acknowledged in a follow-up post that the Dogecoin price could defy his expectations, and he might be wrong about the consolidation leading to a major correction.
He suggested the possibility that the symmetrical triangle might actually be a bull flag pattern, which is more typically associated with bullish breakouts. If this is the case, the pattern could pave the way for an upward breakout that would drive the Dogecoin price toward a guaranteed target of $0.90.
Current State Of Dogecoin Price
At the time of writing, Dogecoin is trading at $0.37, having decreased by 8.5% in the past 24 hours. Nevertheless, Dogecoin is still on track to finish November with the best monthly gains in over three years. The next few days will be crucial in determining how this plays out; whether the consolidation phase resolves with a sharp correction or a rally to new highs.
Featured image created with Dall.E, chart from Tradingview.com
The crypto prices today have taken an attention-nabbing upside momentum, sparking investor curiosity across the digital asset space. Bitcoin (BTC) price gained to surpass the $91K level again, whereas top altcoins have mainly mimicked a bullish trajectory. The global crypto market cap witnessed a 4% increase to $3.03 trillion today, marking monumental growth. However, the total market volume witnessed a 15% drop in value to $195.36 billion.
It’s noteworthy that MANTRA (OM) and Goatseus Maximus (GOAT) emerged as the day’s leading gainers. Also, the meme coin sector showcased remarkable gains in tandem with the broader market sentiment.
Here’s a brief collection of some of the top cryptocurrencies by market cap and their price action on November 16.
Crypto Prices Today: BTC, ETH, SOL, & XRP Witness Gains
As mentioned above, while BTC price traded above $91,000, Ethereum (ETH), Solana (SOL), and XRP prices gained 1%-9%. This upward movement has sparked significant market intrigue as the broader industry reflects immense bullishness in Q4 this year. Further, even the meme coin sector soared in line with the broader trend, as seen by Dogecoin and Shiba Inu intraday price movements. So. let’s dig deeper into the major coins and their price action today.
Bitcoin Price Today
BTC price gained nearly 3% in the past 24 hours and is now trading at $91,107. Its intraday low and high were recorded as $87,124.90 and $91,868.74, respectively. BTC’s market cap soared 3% from yesterday and is now resting at $1.81 trillion. Further, the flagship crypto’s market dominance witnessed a 0.04% increase in value to 59.77%.
This soaring movement comes despite $370.10 million worth of outflows in Bitcoin ETFs as of November 15, per Sosovalue data that excludes BlackRock’s IBIT. Overall, this stat has set off waves of investor speculations on the asset’s future performance across the market.
Meanwhile, today’s rising movement follows a considerable BTC price crash witnessed recently, reigniting market optimism on the asset.
Ethereum Price Today
ETH price gained roughly 2% in the past 24 hours and is now trading at $3,136. Its intraday low and high were $3,016.14 and $3,135.18, respectively. Ethereum’s market cap stood at the $377 billion level today. Simultaneously, the top altcoin’s market dominance was at 12.47%.
Notably, even ETH soars despite $59.87 million worth of outflows in Ethereum ETFs, per Sosovalue data other than BlackRock’s. The rising action has sparked significant market discussions over future movements amid constant institutional interest decline. Ethereum ETFs witnessing outflows continuously, as current data indicate over $60 million in outflows on Friday.
Solana Price Today
Simultaneously, the crypto SOL witnessed gains worth 5% in the past 24 hours and is now trading at $220.12. The coin’s 24-hour low and high were $204.83 and $220.75, respectively. Solana’s market cap reached $103.92 billion today. The coin soars alongside the broader market sentiment.
Notably, Solana meme coin Moo Deng (MOODENG) has further caught the eyes of market participants, embarking on a rally amid backing from major exchanges.
XRP Price Today
XRP price soared roughly 11% in the past 24 hours and is now trading at $0.9121. The coin’s intraday low and high were $0.7762 and $0.9248, respectively. XRP’s market cap is at $51.97 billion today, witnessing considerable gains among altcoins recently. Simultaneously, in light of the remarkable gains, Ripple CEO Brad Garlinghouse took the sage to validate the reasons behind the coin’s price rally. The CEO believes that the price rally is attributable to growing optimism post-U.S. elections as pro-crypto policies transform the sector.
Meme Crypto Prices Today
DOGE price witnessed gains worth 2% over the past day and is now trading at $0.3796. The meme coin rises amid soaring optimism as investors withdraw Dogecoin lawsuit against Elon Musk.
Simultaneously, Shiba Inu (SHIB) price surged 7% in the past 24 hours to $0.00002546. Further, even PEPE, WIF, and BONK prices witnessed an uptick worth 8%-26%.
Top Crypto Gainer Prices Today
MANTRA
OM price upsurged remarkably by 65% over the past day and is now trading at $2.70. The altcoin’s intraday low and peak were $1.57 and $2.72, respectively.
Goatseus Maximus
GOAT price witnessed an uptick of 34% over the past day and is now trading at $1.16. The coin’s 24-hour low and high were $0.824 and $1.26, respectively.
Flare
FLR price was up by 32% over the past day and is currently resting at $0.01948. Its intraday low and high were $0.01437 and $0.02243, respectively.
Bonk
Bonk price also saw a 34% jump in the last 24 hours, with the price currently changing hands at $0.00004489. It extends the weekly rally to more than 110%.
Top Crypto Loser Prices Today
Monero
XMR price tanked 2% over the past day and is now trading at $144.18. The token’s 24-hour low and high were $140.72 and $148.76, respectively.
BNB
BNB price witnessed a highly volatile movement over the past day and is now sitting at $622.65. Its intraday low and high were $604.23 and $626.05, respectively. The price is down 1% in a week.
Besides, no other altcoins losers emerged for today, per CoinMarketCap data at the time of reporting. Meanwhile, the hourly time frame chart for BTC showed a 0.33% drop while ETH gained 0.76%, sparking further intrigue over the crypto prices today. Market watchers are continuing to eye the coins’ prices for further gains amid a Q4 bull market this year.
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.
FLOKI price soared to a five-month high after Coinbase included the Ethereum-based memecoin on its listing roadmap.
The token has gained 12% in the past 24 hours and nearly doubled over the week, defying broader crypto market corrections and some analysts claim it could rise by 500% to as much as $0.0015732.
Coinbase Listing Could Send Floki Price Up 500%, Analysts Say
Ethereum-based meme coin Floki (FLOKI) leads as one of the big winners of this week after Coinbase announced it had added the dog-themed token to its listing roadmap.
According to an analyst CRYPTO TISA who says 500% increase in price is to expect. That means, with currents value, FLOKI could reach the price of $0.0015732.
With him agrees Scofield, another analyst on X who claims price of $0,001 seems like a reasonable explanation. He explains that FLOKI listing on Coinbase isn’t just another exchange listing but a validation of what the team has been building and working towards. “Strongest fundamentals, real utility, and now backed by the most trusted name in crypto.”
After the news was announced, the price of Floki Inu surged 21% in under an hour to a five-month-high price above $0.00027. The cryptocurrency named after the real-life dog of Elon Musk is now up by 13% in the last 24 hours, making up for earlier losses during a broader market correction.
Assets added to the roadmap today: FLOKI (FLOKI)https://t.co/rRB9d3hSr2
— Coinbase Assets 🛡️ (@CoinbaseAssets) November 15, 2024
While the Coinbase listing roadmap usually indicates that crypto tokens might be listed in the future, it is still a good ringer for a spot to be added for trading. However, the exchange has recently made rapid changes in its listing, insinuating its growing openness to meme coins.
Coinbase also announced that FLOKI holders can claim a distribution of 3 billion tokens, following the token’s inclusion on Coinbase’s roadmap. The distribution is based entirely on on-chain activity, ensuring that only eligible users who meet certain criteria can claim their share.
Trump Effect? CB Meme Coin Embrace Signals New Era for Crypto
On Wednesday, Coinbase launched both meme coins by listing Ethereum’s Pepe (PEPE) and Solana’s Dogwifhat (WIF) on its roadmap. The coins simultaneously went live for spot trading.
Floki joined other top meme coins after Coinbase’s inclusion of its roadmap catapulted it to a five-month high – as Coingape correctly predicted.
According to CoinGecko, all three meme coins rank among the world’s 50 most valuable cryptocurrencies by market capitalization for now.
Coinbase has traditionally been cautious about meme coins. Still, it’s quickening the pace of their adoption since the election victory of Donald Trump, who vowed to make crypto regulations easier, interpreted as a sign of friendliness.
Dogecoin, the most valuable meme coins, was earlier at the forefront, doubling in value over a week before cooling off. Although the DOGE dropped 4% today, other meme coins, such as Floki, have grasped the momentum and reflect a wider interest in this very quirky market sector.
Coinbase adding Floki to its listing roadmap has helped push the token’s price to new heights. This claim distribution marks another significant milestone for the Floki ecosystem, which is rapidly growing its utility with upcoming DeFi tools and gaming offerings.
Therefore, two days ago, Valhalla, the PlayToEarn MMORPG from Floki, announced a new partnership with Dubai’s Mall of the Emirates. The collaboration, revealed on Nov. 13, marks a significant milestone in Valhalla’s global expansion strategy.
Teuta Franjkovic
Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries.
Starting her career in 2005 as a lifestyle writer for Cosmopolitan, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg.
Influenced by figures like Don and Alex Tapscott and Laura Shin, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions.
Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law.
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.
The XRP price has just had its biggest 24-hour surge in years to reach its highest level in over two years. Particularly, XRP surged by about 22% in a few hours to reach $0.8386. This intriguing surge has brought into focus XRP’s potential to challenge the narrative of it being dead.
Ironically, this XRP surge is tied to SEC Chair Gary Gensler. This is because the SEC Chair recently made an announcement hinting at what seems like a looming resignation, which seems to have fueled optimism among crypto investors.
Why Did XRP Surge Amidst Market Corrections?
SEC Chairman Gary Gensler, known for his crackdown on Ripple, XRP, and the entire crypto market, made an announcement today regarding his role in the commission. Interestingly, his remarks carried the tone of a farewell speech, reflecting on his journey with the SEC and its staff while hinting at a departure.
This doesn’t come as a surprise, as president-elect Donald Trump has made it a part of his campaign to fire Gensler after he’s sworn into office to appeal to crypto investors. Also, it aligns with the tradition of heads of institutions like the SEC to resign down when a new administration from a different political party takes office.
BREAKING: Gary Gensler releases statement suggesting he may be leaving the SEC 🇺🇸 pic.twitter.com/ROgYcxk02N
— Bitcoin Magazine (@BitcoinMagazine) November 14, 2024
Beyond the recent remarks by Gary Gensler, the XRP price has also gained momentum from a favorable ruling for Ripple in its ongoing dispute with the SEC. US Judge Phyllis Hamilton recently granted a joint motion for entry of judgement of the plantiff’s claims. Basically, what this means is that the Court has granted Ripple’s request for a hold on individual state law claims until a resolution could be achieved. This ruling represents another minor victory for Ripple as the legal battle stretches on, with a trial date now set for January 21 of next year.
What Does A Gensler Resign Mean For XRP?
The latest XRP rally is a tease of what’s in store for the XRP price in the longer term if Gary Gensler eventually leaves his position as Chairman of the SEC. Firstly, Gensler’s resignation could influence the trajectory of the Ripple-SEC lawsuit. A new SEC chair with a more crypto-friendly perspective might withdraw the appeal against Ripple, essentially removing a great burden that has slowed down XRP price growth.
Beyond the Ripple case, Gensler’s departure could signal a broader shift in the SEC’s regulatory approach to the crypto industry. US president-elect Donald Trump has said he wants the US to be the ‘crypto capital of the planet’. This misson would undoubtedly be reflected through the SEC. This could result in the approval of more exchange-traded funds (ETFs) based on cryptocurrencies, including XRP.
At the time of writing, XRP is trading at $0.81.
Featured image created with Dall.E, chart from Tradingview.com
BTC Gains To $91K, Major Altcoins Soar
This Crypto Analyst Correctly Called The Dogecoin Price Crash, Here Are His Targets
GOAT Price Reaches New High as Correction Risks Mount
FLOKI Price Skyrockets Amid Potential Coinbase Listing, Is 500% Pump Next?
Mantra (OM) Price Breaks Records in Strong Upward Momentum
Here’s Why The XRP Price Surged Past $0.8 Despite The Market Dump
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
-
Market21 hours agoCrypto fear and greed rises as investors turn to Vantard
-
Altcoin20 hours agoEthereum ETF Flows Flip Negative Again As ETH Price Slips 6%, What’s Next?
-
Market20 hours agoCan Support Prevent Further Losses?
-
Altcoin19 hours agoSouth Korea Exchange Upbit Faces Probe Over KYC Violations, Here’s All
-
Market22 hours agoBitcoin (BTC) Struggles to Hold $90,000 Amid Profit-Taking
-
Altcoin9 hours agoWhales Move $30M DOGE Amid Dogecoin Price Correction
-
Market8 hours ago600,000 Potential KYC Violations Uncovered
-
Market7 hours agoThese Are Today Trending Altcoins: HAMMY, Notcoin, PEPE
✓ Share: