Market
Can Dogecoin (DOGE) Price Break Through Looming Obstacles?

On Tuesday, August 20, Dogecoin (DOGE) price registered a 6% increase as it attempted to retest $0.11. This rise also spread to the volume, which noted a substantial increase as well.
Shortly after, specifically as of this writing, the meme coin has erased all of those gains. While DOGE holders may hope for another jump, this analysis reveals that it could be difficult.
Dogecoin’s Path to Respite Has Been Hindered
Data from Santiment shows that Dogecoin’s one-day Realized Cap has reached a monthly low of $12.43 million. As a short form of Realized Capitalization, this metric serves as an aggregate cost basis for coins on a blockchain.
Given this methodology, the Realized Cap is the value of all coins as of the time they last moved. An increase in this value indicates that the cryptocurrency can be re-priced higher as cheaper coins have been spent.
However, a drawdown is largely driven by capitulation as crypto prices can be re-valued lower because more expensive coins have been spent. Considering the thesis above, DOGE’s price might find it challenging to jump past $0.10 despite previous bullish cues.
Read more: Dogecoin (DOGE) vs Shiba Inu (SHIB): What’s the Difference?

The liquidation heatmap is another indicator suggesting that Dogecoin could struggle. This heatmap predicts price levels where large-scale liquidation might occur. For context, liquidation occurs when an exchange forcefully closes an open position due to insufficient margin balance and to prevent further losses.
Beyond that, the heatmap gauges price direction using the concentration of liquidity within a range. Notably, the higher the liquidity at a price range, denoted by the color yellow, the higher the chances of a crypto price moving toward the direction.
As seen below, the heatmap shows a high concentration around the same $0.10 level over the last 24 hours. When viewed using a seven-day lens, it is the same. As such, if nothing changes, DOGE’s price might be stuck around $0.10 in the short term.

DOGE Price Prediction: Roadblocks at $0.10
The technical perspective sheds more light on DOGE’s potential price movement. According to the daily chart, the Relative Strength Index (RSI) remains below the neutral 50.00 region. As a technical oscillator measuring momentum, a reading below the midpoint suggests that the coin is yet to exit the bearish dominance.
Although the RSI rating has increased, it has to jump above the 50.00 point to validate the bullish bias. Thus, it is not out of place to infer that Dogecoin price might continue to swing below $0.09 and $0.10 unless the condition mentioned happens.
A look at the Fibonacci retracement levels adds more insights to the prediction. Typically, the indicator spots price levels a crypto might reach. At press time, DOGE hovers around the $0.10 pullback region where the 23.6% Fib level positions. If the market condition remains the same, the price might fail to elevate beyond this point.
Read more: Dogecoin (DOGE) Price Prediction 2024/2025/2030

However, an increase in buying pressure might change the situation. Should this be the case, DOGE’s price could attempt to hit $0.13, where the 61.8% Fib level lies. But if the broader market collapses like it did on August 5, the Dogecoin price could drop to $0.080 again.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
BNB Price Faces More Downside—Can Bulls Step In?

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From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.
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In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.
Market
VanEck Sets Stage for BNB ETF with Official Trust Filing

Global investment management firm VanEck has officially registered a statutory trust in Delaware for Binance’s BNB (BNB) exchange-traded fund (ETF).
This move marks the first attempt to launch a spot BNB ETF in the United States. It could potentially open new avenues for institutional and retail investors to gain exposure to the asset through a regulated investment vehicle.
VanEck Moves Forward with BNB ETF
The trust was registered on March 31 under the name “VanEck BNB ETF” with filing number 10148820. It was recorded on Delaware’s official state website.

The proposed BNB ETF would track the price of BNB. It is the native cryptocurrency of the BNB Chain ecosystem, developed by the cryptocurrency exchange Binance.
As per the latest data, BNB ranks as the fifth-largest cryptocurrency by market capitalization at $87.1 billion. Despite its significant market position, both BNB’s price and the broader cryptocurrency market have faced some challenges recently.
Over the past month, the altcoin’s value has declined 2.2%. At the time of writing, BNB was trading at $598. This represented a 1.7% dip in the last 24 hours, according to data from BeInCrypto.

While the trust filing hasn’t yet led to a price uptick, the community remains optimistic about the prospects of BNB, especially with this new development.
“Send BNB to the moon now,” an analyst posted on X (formerly Twitter).
The filing comes just weeks after VanEck made a similar move for Avalanche (AVAX). On March 10, VanEck registered a trust for an AVAX-focused ETF.
This was quickly followed by the filing of an S-1 registration statement with the US Securities and Exchange Commission (SEC). Given this precedent, a similar S-1 filing for a BNB ETF could follow soon.
“A big step toward bringing BNB to US institutional investors!” another analyst wrote.
Meanwhile, the industry has seen an influx of crypto fund applications at the SEC following the election of a pro-crypto administration. In fact, a recent survey revealed that 71% of ETF investors are bullish on crypto and plan to increase their allocations to cryptocurrency ETFs in the next 12 months.
“Three-quarters of allocators expect to increase their investment in cryptocurrency-focused ETFs over the next 12 months, with demand highest in Asia (80%), and the US (76%), in contrast to Europe (59%),” the survey revealed.
This growing interest in crypto ETFs could drive further demand for assets like BNB, making the VanEck BNB ETF a potentially significant product in the market.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
XRP Recovery Stalls—Are Bears Still In Control?

XRP price started a fresh decline from the $2.20 zone. The price is now consolidating and might face hurdles near the $2.120 level.
- XRP price started a fresh decline after it failed to clear the $2.20 resistance zone.
- The price is now trading below $2.150 and the 100-hourly Simple Moving Average.
- There is a connecting bearish trend line forming with resistance at $2.120 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair might extend losses if it fails to clear the $2.20 resistance zone.
XRP Price Faces Rejection
XRP price failed to continue higher above the $2.20 resistance zone and reacted to the downside, like Bitcoin and Ethereum. The price declined below the $2.150 and $2.120 levels.
The bears were able to push the price below the 50% Fib retracement level of the recovery wave from the $2.023 swing low to the $2.199 high. There is also a connecting bearish trend line forming with resistance at $2.120 on the hourly chart of the XRP/USD pair.
The price is now trading below $2.150 and the 100-hourly Simple Moving Average. However, the bulls are now active near the $2.10 support level. They are protecting the 61.8% Fib retracement level of the recovery wave from the $2.023 swing low to the $2.199 high.
On the upside, the price might face resistance near the $2.120 level and the trend line zone. The first major resistance is near the $2.150 level. The next resistance is $2.20. A clear move above the $2.20 resistance might send the price toward the $2.240 resistance. Any more gains might send the price toward the $2.2650 resistance or even $2.2880 in the near term. The next major hurdle for the bulls might be $2.320.
Another Decline?
If XRP fails to clear the $2.150 resistance zone, it could start another decline. Initial support on the downside is near the $2.10 level. The next major support is near the $2.0650 level.
If there is a downside break and a close below the $2.0650 level, the price might continue to decline toward the $2.020 support. The next major support sits near the $2.00 zone.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.
Major Support Levels – $2.10 and $2.050.
Major Resistance Levels – $2.120 and $2.20.
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