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Is Dogecoin Price Poised For a Sustained Rally?

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Dogecoin (DOGE) price has risen by 27% over the past month, leading meme market gains. Interestingly, despite the double-digit price hike, a key on-chain metric signals that the meme coin remains undervalued, presenting a buying opportunity for market participants. 

If demand strengthens, Dogecoin’s price may extend its gains in the near term. Here is why.

Dogecoin Flashes Buy Signal

Dogecoin’s market value to realized value (MVRV) ratio, which measures the overall profitability of all its holders, shows that the altcoin is currently undervalued. This is happening despite the 27% spike in its price over the past month.

As of this writing, the coin’s 60-day MVRV ratio is -8.18%. A negative 60-day MVRV ratio indicates that Dogecoin’s current market price is below its average over the past 60 days. 

Read more: Dogecoin (DOGE) Price Prediction 2024/2025/2030

Dogecoin MVRV Ratio
Dogecoin MVRV Ratio. Source: Santiment

Negative MVRV ratios historically represent a buying signal. They suggest that the asset is being traded below its historical acquisition cost, thus creating a buying opportunity for traders looking to “buy low” and “sell high.”

Traders have seized upon this bullish indicator, with DOGE’s spot market recording its first net inflow in seven days. According to Coinglass data, the inflow into the meme coin’s market on Friday totals $2 million. This comes after seven consecutive days of spot market net outflows, which exceeded $35 million.

Dogecoin Spot Netflow
Dogecoin Spot Netflow. Source: Santiment

Spot inflow is a bullish signal. It indicates that investors are confident in Dogecoin’s mid/near-term prospects and are willing to hold it as an asset. 

DOGE Price Prediction: This Crucial Support Must Hold

At press time, Dogecoin trades close to the crucial support level of $0.137. With increased inflow into its spot market, bulls are positioned to defend this price point, potentially initiating an uptrend if demand strengthens.

The coin’s bullish sentiment is further supported by its bull-bear power (BBP) indicator, which measures buying and selling pressure in the market. Currently, the BBP sits at 0.0033, suggesting bullish momentum. When this indicator is positive, the bulls control the market.

If bulls maintain their grip, they could drive Dogecoin’s price towards the resistance level at $0.154. A successful breakout above this threshold would allow the meme coin to reach $0.172, a high not seen since May.

Read more: How To Buy Dogecoin (DOGE) and Everything You Need To Know

Dogecoin Price Analysis
Dogecoin Price Analysis. Source: TradingView

However, if demand wanes and the $0.137 support level fails to hold, Dogecoin’s price could drop significantly towards $0.112.

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 ConditionsPrivacy Policy, and Disclaimers have been updated.



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XRP Price Stuck In Consolidation: Where’s The Next Big Move?

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XRP price started a consolidation phase from the $3.20 resistance zone. The price is now consolidating gains and might aim for more gains above the $3.20 zone.

  • XRP price started a downside correction from the $3.220 zone.
  • The price is now trading above $3.050 and the 100-hourly Simple Moving Average.
  • There was a break above a bullish flag pattern forming with resistance at $3.10 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair might start a fresh increase if it clears the $3.20 resistance zone.

XRP Price Eyes Fresh Gains

XRP price started a fresh increase above the $2.950 zone, outperforming Bitcoin and Ethereum. The price rallied above the $2.95 and $3.00 resistance levels.

A high was formed at $3.214 and the price recently corrected some gains. There was a move below the $3.10 level. The price dipped toward the 50% Fib retracement level of the upward wave from the $2.6560 swing low to the $3.214 high.

However, the bulls were active near $3.00 and pushed the price higher. There was a break above a bullish flag pattern forming with resistance at $3.10 on the hourly chart of the XRP/USD pair.

The price is now trading above $3.050 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $3.150 level. The first major resistance is near the $3.20 level. The next resistance is $3.220.

XRP Price

A clear move above the $3.220 resistance might send the price toward the $3.320 resistance. Any more gains might send the price toward the $3.380 resistance or even $3.420 in the near term. The next major hurdle for the bulls might be $3.50.

Another Decline?

If XRP fails to clear the $3.150 resistance zone, it could start another decline. Initial support on the downside is near the $3.00 level. The next major support is near the $2.950 level.

If there is a downside break and a close below the $2.950 level, the price might continue to decline toward the $2.860 support or the 61.8% Fib retracement level of the upward wave from the $2.6560 swing low to the $3.214 high. The next major support sits near the $2.750 zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Major Support Levels – $3.00 and $2.950.

Major Resistance Levels – $3.150 and $3.20.



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XRP price prediction signals upward rally: Technical indicators suggest big run for WallitIQ (WLTQ) in February 2025

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The crypto market is buzzing with optimism as XRP price predictions hint at an upward rally, drawing attention from traders and investors alike. However, the real standout in this dynamic landscape is WallitIQ (WLTQ), poised for an extraordinary surge by February 2025, according to technical indicators. While XRP shows promise, WallitIQ’s (WLTQ) explosive growth potential and unique market positioning make it the clear choice for those seeking unparalleled returns in the evolving crypto space.

Crypto Spotlight: WallitIQ (WLTQ) Eyes Huge Growth Potential

WallitIQ (WLTQ) is rapidly emerging as a standout cryptocurrency, capturing the spotlight with its trailblazing innovations and the potential for a staggering surge in February 2025. Technical indicators highlight WallitIQ (WLTQ) as the top high-reward investment opportunity, primed to outpace competitors with revolutionary tools reshaping the decentralized finance (DeFi) landscape. While the XRP price trajectory hints at growth, savvy investors are turning their focus to WallitIQ (WLTQ), drawn by its state-of-the-art advancements and brighter prospects. 

The token’s strength lies in its unmatched security features, boosting trust among crypto enthusiasts. WallitIQ (WLTQ) integrates cutting-edge AI fraud detection, biometric authentication, facial recognition, and live verification, establishing a secure foundation that underpins its optimistic outlook for transformative gains in February 2025. 

WallitIQ’s (WLTQ) presale is already attracting substantial interest, with individual and institutional investors flocking to acquire it at a remarkably low price of $0.0420 an exceptional chance to be part of its historic 30,000% run in February 2025.

Further solidifying its reputation, WallitIQ (WLTQ) has successfully undergone a complete SolidProof audit, guaranteeing transparency and minimizing risks. Its real-time smart contract monitoring improves its status as a secure and trustworthy investment. 

With robust technology, unparalleled security, and explosive growth potential, technical indicators position WallitIQ (WLTQ) as a must-have for investors looking to ride the next wave of DeFi innovation and reap significant returns from its run in February 2025.

Riding The Wave: What’s Behind The XRP Price Surge?

The XRP price is capturing significant attention as it gears up for a potential upward rally. Recent predictions suggest that the XRP price could break past critical resistance levels, fueled by favorable technical indicators and growing adoption.

One factor driving this optimism is Ripple’s legal victories and partnerships, which have bolstered confidence in its ecosystem. As the XRP price hovers near pivotal thresholds, bullish sentiment grows among traders who anticipate strong momentum.

Market dynamics also favor the rise of the XRP price, as institutional interest and trading volumes surge. For those watching the XRP price, this rally could represent a significant opportunity. If support holds steady, the XRP price may continue climbing, delighting investors.

In conclusion, the XRP price stands at the brink of an exciting ascent, a testament to its resilience and potential for long-term growth.

WallitIQ (WLTQ) Presale: Revolutionizing Crypto Investments

Although the XRP price indicates an upward rally, crypto traders are increasingly turning their attention to WallitIQ (WLTQ)’s presale, drawn by its attractive entry price of $0.0420 and forecasts from several analysts that predict a surge of up to 30,000% in February 2025. WallitIQ (WLTQ) is quickly gaining recognition as a standout AI-powered altcoin, supported by cutting-edge technology that redefines decentralized finance (DeFi).

Its decentralized framework incorporates advanced AI capabilities such as adaptive machine learning algorithms, intuitive multimodal chatbots, and a revolutionary QR-based scan-and-pay system. These innovative features improve user engagement with DeFi platforms, making WallitIQ (WLTQ) both accessible and highly efficient in the fast-evolving crypto world.

Adding to its appeal, WallitIQ (WLTQ) offers a groundbreaking Crypto Wallet Management Mobile App. This app combines QR code payment functionality, simulated transaction tools for secure transfers, and real-time market insights powered by CoinGecko’s API, empowering users with informed decision-making capabilities for achieving massive returns in February 2025.

Traders are particularly excited by these state-of-the-art advancements, which they believe will drive WallitIQ (WLTQ)’s run and establish it as a premier investment. With surging presale momentum and increasing demand, this token presents a unique opportunity for forward-thinking investors to secure significant returns while embracing its ambitious February 2025 run.

Join the WallitIQ (WLTQ) presale and community: 

Join WallitIQ (WLTQ) Presale

Join the WallitIQ (WLTQ) Community



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Arkansas Rejects Crypto Mining Restrictions

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The Arkansas Senate has rejected Senate Bill 60, which would have prohibited crypto mining facilities within a 30-mile radius of any military facility in the state.

The bill required digital asset mining operations within this zone to cease operations unless they had obtained permits before December 31, 2024.

Arkansas Lawmakers Say No to Crypto Mining Restrictions

Senate Bill 60, titled “To Prohibit a Digital Asset Mining Business from Being Located Within a Thirty-Mile Radius of a Military Facility,” was rejected on Thursday in a 6-1 vote, according to the Arkansas Democrat-Gazette.

Senator Ricky Hill and Representative Brian S. Evans introduced the bill. They argued that while digital asset mining—commonly known as crypto mining—presents economic opportunities, it also carries risks.

“Risks posed by digital asset mining include without limitation threats to national security and the security of the State of Arkansas,” the bill read.

The bill added that these crypto mining risks are heightened when such facilities operate within a thirty-mile radius of military bases in Arkansas.

“This act is immediately necessary in order to ensure the health and safety of the State of Arkansas and its citizens,” the bill asserted.  

Had it passed, the legislation would have required digital asset mining businesses within the designated radius to shut down. This would have applied unless they had obtained permits from the Oil and Gas Commission before December 31, 2024.

Additionally, ongoing construction of mining facilities within these zones would have been required to cease. The bill also granted the Attorney General the authority to investigate potential violations. This included the power to issue subpoenas and collect sworn statements to enforce compliance.

Despite these provisions, the bill failed to gain sufficient support, leaving digital asset mining businesses free to operate without the proposed restrictions.

This development follows Arkansas’ April 2023 “Right to Mine” law. The law protected Bitcoin mining activities in the state by loosening restrictions on commercial crypto mining. Nonetheless, it faced substantial opposition, with critics citing environmental and energy consumption concerns.

Meanwhile, lawmakers in North Dakota have introduced legislation to safeguard the rights of cryptocurrency users and miners. Representative Nathan Toman has put forward a bill designed to protect fundamental Bitcoin-related rights.

Dennis Porter, CEO of the Satoshi Action Fund, confirmed the bill’s introduction via social media platform X (formerly Twitter).

“This bill will protect the: Right-to-Mine – Right Self-Custody – Right to Peer-2-peer Transactions – Right to Run a Node,” Porter stated.

These developments come as interest in crypto grows at the national level. President Donald Trump, now serving his second term, has voiced strong support for the domestic Bitcoin mining industry. He has publicly advocated for all future Bitcoin mining to take place within the US, reinforcing his administration’s pro-crypto stance.

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 ConditionsPrivacy Policy, and Disclaimers have been updated.



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