Dogecoin
DOGE price analysis hints at 30% drop despite Elon Musk’s Twitter bid
The brief Dogecoin (DOGE) price rally last week following Tesla CEO Elon Musk’s bid to buy Twitter appears to be fizzling out as DOGE closes the week over 8%. DOGE’s price dropped to $0.142 on April 17, three days after peaking out locally at $0.149. The Dogecoin correction, albeit modest, raised its potential to trigger a classic bearish reversal pattern with an 85% success rate of reaching its downside target. DOGE price eyes drop under $0.10 Dubbed head and shoulders (H&S), the pattern appears when the price forms three peaks in a row, with the middle one, called the “head,” in between the other two, which are of almost equal height, and are thus called the left and right “shoulders.” These three peaks hold above a common support ...
Price analysis 4/15: BTC, ETH, BNB, XRP, SOL, ADA, LUNA, AVAX, DOGE, DOT
Bitcoin (BTC) remains closely correlated with the S&P 500 but the institutional investors do not seem to be waiting for a turnaround in the United States’ equities market or decoupling to happen before buying more Bitcoin. Notably, 30,000 Bitcoin moved out of Coinbase Pro in a single day, suggesting strong institutional demand. MicroStrategy, the publicly listed company, which is the largest single-wallet holder of Bitcoin, does not seem to be content with its stash of 129,219 Bitcoin. In a letter to shareholders, the firm’s CEO Michael Saylor said that the company aims to “vigorously pursue” and “increase awareness” about its Bitcoin strategy. Daily cryptocurrency market performance. Source: Coin360 Another entity that has been at the forefront of Bitcoin purchases in the p...
Weekly Report: Bison bank wins crypto license, Nexo and MasterCard to launch a crypto-payments card
Nexo Card was termed the world’s first crypto-backed payments card Circle has completed a $400 million funding round Michael Saylor says MicroStrategy’s Bitcoin buying spree will continue Portugal’s Bison Bank snaps the first-ever VASP license to a bank in the country Dogecoin co-founder Jackson Palmer is unimpressed by Elon Musk’s attempt to acquire Twitter ‘Tremendous success’ CEO Michael Saylor hails MicroStrategy’s Bitcoin buying spree In a recent letter to investors, MicroStrategy CEO and crypto bull Michael Saylor has lauded the decision to flood the firm’s treasury with Bitcoin. He said the company intends to continually “vigorously pursue” this ambition into the future. In the letter embedded in MicroStrategy’s 2022 Proxy Statement dated April 14, Saylor explained to stockhold...
Bitcoin battles for weekly close above $42K as LFG buys 4,130 more BTC
Bitcoin (BTC) prepared for its lowest weekly close of the month so far on April 10 after a week of disappointing losses. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader: BTC “giving people a second chance” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $42,700 Sunday with a matter of hours to go until the conclusion of the weekly candle. The pair had fallen into the end of Wall Street trading Friday, while the weekend provided some nervous calm as $42,000 support remained intact. For popular trader and analyst Rekt Capital, there was still cause for optimism despite the past seven days seeing losses of nearly 10%. This #BTC pullback is a second chance for a lot of people If you promised yourself that you’ll buy $BT...
Price analysis 4/8: BTC, ETH, BNB, SOL, XRP, ADA, LUNA, AVAX, DOT, DOGE
Bitcoin (BTC) and most major altcoins are attempting to defend the immediate support levels, indicating that bears sense an opportunity and are looking to take control of the price action. The short-term price action does not seem to worry the long-term Bitcoin bulls who expect a massive return in the next few years. While speaking at the Bitcoin 2022 conference in Miami, ARK Invest CEO Cathie Wood reiterated her Bitcoin price target of $1 million by 2030. Meanwhile, telecom billionaire Ricardo Salinas said during the conference that BTC and Bitcoin equities form 60% of his liquid investment portfolio. That is a massive increase from his Bitcoin exposure in 2020, which formed just 10% of his liquid assets. Daily cryptocurrency market performance. Source: Coin360 While the long-term may be ...
Price analysis 4/1: BTC, ETH, BNB, SOL, XRP, ADA, LUNA, AVAX, DOT, DOGE
Bitcoin (BTC) has clawed back much of the losses that took place in January and now the focus of traders shifts to April, which has historically been a strong month for the cryptocurrency. According to Coinglass data, Bitcoin has closed April in the red on onlthree occasions and the worst monthly loss was a 3.46% drop in 2015. Although history favors the bulls, the Whale Shadows indicator has noticed that more than 11,000 Bitcoin has left a wallet in which it had been lying dormant for seven to ten years. The movement of similar-sized quantities from dormant accounts has generally resulted in a major top, according to independent market analyst Phillip Swift. Daily cryptocurrency market performance. Source: Coin360 Along with keeping an eye on the crypto markets, traders should ...
Dogecoin co-founder believes DOGE is best suited as a digital currency
Dogecoin creator Billy Markus on Monday said that Dogecoin ought to exploit its advantages as a digital currency Markus also defended the Dogecoin project, saying it doesn’t belong in the ‘shit token’ category Through a series of tweets posted on Monday, Dogecoin creator Bill Markus shared his view on the future of the ecosystem’s native coin, DOGE. Popularly known on Twitter and in the crypto space as Shibetoshi Nakamoto, Markus was one of the influential people behind Dgecoin. Though he is no longer associated with the project presently, he suggested that by marketing itself as a currency, albeit virtual, DOGE could differentiate itself from thousands of digital speculation and utility tokens in the market. In his opinion, the coin is well-suited to be used as an ...
Dogecoin co-founder believes DOGE is best suited as a digital currency
Dogecoin creator Billy Markus on Monday said that Dogecoin ought to exploit its advantages as a digital currency Markus also defended the Dogecoin project, saying it doesn’t belong in the ‘shit token’ category Through a series of tweets posted on Monday, Dogecoin creator Bill Markus shared his view on the future of the ecosystem’s native coin, DOGE. Popularly known on Twitter and in the crypto space as Shibetoshi Nakamoto, Markus was one of the influential people behind Dgecoin. Though he is no longer associated with the project presently, he suggested that by marketing itself as a currency, albeit virtual, DOGE could differentiate itself from thousands of digital speculation and utility tokens in the market. In his opinion, the coin is well-suited to be used as an ...
Dogecoin signals bottoming out as DOGE rebounds 30% in two weeks — What’s next?
A brutal correction witnessed in the Dogecoin (DOGE) market between May 2021 and February 2022, which saw the price dropping by almost 85%, appears to have come to a halt this month. DOGE/USD rebounds 30% in two weeks DOGE experienced strong dip-buying when its price crashed to levels around $0.10 two weeks ago, resulting in a 30% rebound move to $0.14 as of March 27. Meanwhile, the coin’s upside retracement originated at a support level that constitutes a “falling wedge” setup, signaling an extended bullish reversal in the weekly sessions ahead. In detail, a falling wedge pattern occurs when the price trends lower while fluctuating between two downward sloping, converging trendlines. In a perfect scenario, the setup results into the price breaking out of the descending r...
Price analysis 3/21: BTC, ETH, BNB, XRP, LUNA, SOL, ADA, AVAX, DOT, DOGE
Bitcoin (BTC) and most major altcoins are attempting to start the new week on a positive note by bouncing off their respective support levels. Goldman Sachs became one of the first major banks in the United States to complete an over-the-counter “cash-settled cryptocurrency options trade” with the trading unit of Michael Novogratz’s Galaxy Digital. This could encourage other major banks to consider offering OTC transactions for cryptocurrencies. It is not only select nations that are showing growth in crypto adoption. A report by cryptocurrency exchange KuCoin shows that crypto transactions in Africa have soared by about 2,670% in 2022. Bitcoin Senegal founder Nourou believes that Africa could continue its thousand plus percent growth rates in the next few years. Daily cryptocurrency marke...
Price analysis 3/18: BTC, ETH, BNB, XRP, LUNA, SOL, ADA, AVAX, DOT, DOGE
Bitcoin (BTC) is facing a challenging environment in 2022 due to the surging inflation and geopolitical turmoil. Although gold has outperformed Bitcoin year-to-date, Bloomberg Intelligence senior commodity strategist Mike McGlone believes that Bitcoin could make a strong comeback. McGlone expects the current circumstances to “mark another milestone in Bitcoin’s maturation.” Another bullish sign for the long term is that the Bitcoin miners have been increasing their Bitcoin holdings since 2021. Compass Mining founder and CEO Whit Gibbs said to Cointelegraph that Bitcoin mining companies are “taking more of a bullish approach to Bitcoin.” Daily cryptocurrency market performance. Source: Coin360 Terraform Labs founder Do Kwon said that its stablecoin TerraUSD (UST) will be backed by mor...
Price analysis 3/16: BTC, ETH, BNB, XRP, LUNA, SOL, ADA, AVAX, DOT, DOGE
Bitcoin (BTC) is witnessing a see-saw battle near $40,000 with both the bulls and the bears trying to gain the upper hand. The volatility could remain high as the markets await the United States Federal Reserve’s policy decision due on March 16. Analyst Willy Woo suggests that Bitcoin could witness a capitulation event based on a cost basis, a metric that indicates the transfer of Bitcoin from inexperienced to experienced traders. Such sharp declines usually suggest the formation of market bottoms. Daily cryptocurrency market performance. Source: Coin360 However, Glassnode believes that a capitulation has been avoided because the sell-offs have been absorbed by a relatively strong market. Although 82% of the short-term holders’ coins are in loss, Glassnode considers this to be a late...
