Dogecoin
Price analysis 1/26: BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOGE, DOT, AVAX
Bitcoin (BTC) and most major altcoins have bounced off their strong support levels but could the rally sustain to the extent that traders feel confident that a bottom in place? Bloomberg Intelligence senior commodity strategist Mike McGlone said that Bitcoin’s price is “about 30% below its 20-week moving average,” roughly at the same position, which had led to bottom formations in March 2020 and July 2021. Although Bitcoin has corrected sharply in January, the exchanges’ balances dropped from 2.428 million Bitcoin on December 28 to 2.366 million Bitcoin on Jan. 24, according to data from CryptoQuant. This indicates that investors may be stashing away their recent purchases safely. Daily cryptocurrency market performance. Source: Coin360 However, it may not be a V-shaped recovery for ...
Fading power? Weak DOGE spike after Elon Musk makes McDonald’s offer
Erratic billionaire and Tesla CEO Elon Musk has offered to eat a kids meal from McDonald’s live on television if the fast food giant adds Dogecoin (DOGE) as an official payment method. “I will eat a Happy Meal on TV if McDonald’s accepts Dogecoin” said the SpaceX CEO in a tweet on Tuesday morning. In the minutes following Musk’s tweet, the price of DOGE immediately jumped 7% from $0.135 to $0.145 where it remains at the time of writing Previous tweets from Musk have seen markets move far more substantially, with a recent announcement about using it for Tesla merchandise payments causing DOGE to surge over 25%. The current downturn may have something to do with it, but the smaller spike suggests Musk’s power to move markets is beginning to fade. I will eat a happy meal on tv if @McDon...
Price analysis 1/21: BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOT, AVAX, DOGE
Bitcoin (BTC) and most major altcoins continue to witness a bloodbath on Jan. 21 and the result of the most recent downturn has been a $200 billion reduction in market capitalization. A new report by Huobi Research, in collaboration with Blockchain Association Singapore, forecast Bitcoin to enter a bear market in 2022. The liquidity tightening measures undertaken by the U.S. Federal Reserve and other central banks across the world and the regulatory action by authorities could play spoilsport and keep crypto prices under check. Daily cryptocurrency market performance. Source: Coin360 The calls for a bear market have not shaken up the resolve of MicroStrategy CEO Michael Saylor who is determined to hold on to the company’s Bitcoin holdings. Saylor said in a recent interview...
Price analysis 1/17: BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOT, AVAX, DOGE
Bitcoin’s (BTC) volatility has been shrinking in the past few days. The standard deviation of daily Bitcoin returns for the last 30 and 60 days as calculated by the Bitcoin Volatility Index is at 2.63%, the least volatile it has been since November 2020. Generally, tight ranges are followed by strong price expansions. In 2020, the low volatility period in November was followed by a sharp rally in mid-December, which resulted in a supercycle that carried the price all the way to $64,854 on April 14, 2021. Daily cryptocurrency market performance. Source: Coin360 However, there is no certainty that the volatility expansion will happen only to the upside. The price could break out in either direction. Commentator Vince Prince warned that the high leverage ratio of Bitcoin could trigger a big c...
Price analysis 1/14: BTC, ETH, BNB, SOL, ADA, XRP, LUNA, DOT, AVAX, DOGE
Bitcoin (BTC) and most major altcoins are facing selling at higher levels and buying on dips, indicating the possibility of a range formation. On-chain analysis firm Whalemap said that a “reclaim of $46,500 will look like a trend reversal,” for Bitcoin as the previous accumulation phase of 90,000 BTC was at this level. Fidelity Digital Assets said in its annual report that the “massive “ Bitcoin accumulation by Bitcoin miners suggests that the “Bitcoin cycle is far from over.” The report went on to add that more sovereign nations may “acquire Bitcoin in 2022 and perhaps even see a central bank make an acquisition.” Daily cryptocurrency market performance. Source: Coin360 Switzerland-based financial institution SEBA Bank CEO Guido Buehler said in a recent interview that if the right co...
Dogecoin leaps 25% after Musk announces DOGE payments for Tesla merch
Dogecoin (DOGE) prices rose substantially on Jan. 14 as Elon Musk announced that Tesla would start accepting it as payment for merchandise. Tesla merch buyable with Dogecoin — Elon Musk (@elonmusk) January 14, 2022 After the announcement, DOGE price jumped nearly 13%, hitting a 30-day high of $0.2150. Its upside move came as a part of a larger intraday rally that already was taking place before Musk’s Dogecoin tweet went viral. The DOGE price went up by over 25% on Jan. 14 before correcting lower to $0.1986 on profit-taking. DOGE/USD hourly price chart. Source: TradingView Better than Bitcoin Tesla’s integration of a DOGE payment option on its online shopping portal came almost a month after Musk shared his willingness to accept the cryptocurrency as payment on ...
Tesla now accepting Dogecoin payments, DOGE price up 18% on the day
Reports of the electric vehicle company introducing support for DOGE payments surfaced earlier this week from an analyst that reviewed Tesla’s source code Texas-based EV maker and eco-friendly energy company Tesla has started accepting payments in the form of Dogecoin. Tesla’s chief executive and product architect Elon Musk, a long-time supporter of the meme coin, shared the news of the same today. The billionaire business magnate has publicly expressed that he prefers Dogecoin to Bitcoin as a payment alternative in the past. Musk, who has since taken up the name Dogefather, posted many tweets around Dogecoin last year, swinging the markets. In addition to Dogecoin, the techpreneur also holds Bitcoin and Ether in his portfolio. Not Tesla’s first rodeo in crypto Tesla anno...
Vitalik Buterin runs polls to determine the preferred crypto outside ETH
The Ethereum community has marked out Cardano’s ADA and Bitcoin as the two best Ethereum alternatives in storing value and enabling transactions In currently running polls, Vitalik Buterin queried his 3.1 million-large Twitter following, which among a listed number of tokens would be the best alternative in a hypothetical future without Ethereum. “Poll for Ethereum community. You wake up in 2035, and 80% of all transactions + savings in the world are in one currency that is not ETH. Which would you prefer it to be?” the tweet read. The first poll, which has Bitcoin (BTC), Cardano (ADA), Solana (SOL) and the US dollar has so far received almost $560,000 responses. Cardano (ADA) is leading, but the margin is tight At the time of writing, Cardano’s native token ADA had...
Shiba Inu (SHIB) fetches 30% gain on Robinhood listing rumor and bullish chart pattern
Shiba Inu (SHIB) seems to be preparing for a bullish breakout as a falling wedge pattern begins to form. The price of SHIB has been trending lower inside an area defined by two contracting trendlines while accompanying a decline in trading volume. That shows that investors have been less concerned about the downtrend. As a result, falling wedges typically provide an ideal springboard for an upside break once the price closes above the structure’s upper trendline. On Thursday, SHIB showed signs of following a similar topside break. SHIB/USDT daily price chart featuring a falling wedge. Source: Fiery Trading Notably, the token briefly closed above the falling wedge’s upper trendline, hitting an intraday high of $0.00003290. The upside move raised anticipati...
Price analysis 1/12: BTC, ETH, BNB, SOL, ADA, XRP, LUNA, DOT, AVAX, DOGE
Bitcoin (BTC) and most major altcoins appear to have started a relief rally. Glassnode data suggests that Bitcoin addresses with a non-zero balance have risen to about 40 million, indicating increasing adoption by retail traders. Edelman Financial Engines founder Ric Edelman said that the number of Americans owning Bitcoin could rise from 24% currently to one-third by 2022. He expects this to happen as “Bitcoin is becoming more and more mainstream. People are hearing about it everywhere — it isn’t going away.” Daily cryptocurrency market performance. Source: Coin360 The investors buying Bitcoin seem to be in it for the long haul if the outflows from major exchanges are any indication. CryptoQuant data shows outflows of 29,371 BTC on Jan. 11, the highest withdrawals since Sep. 10. Could the...
Price analysis 1/5: BTC, ETH, BNB, SOL, ADA, XRP, LUNA, DOT, AVAX, DOGE
Bitcoin (BTC) and most major altcoins are stuck in a tight range with bulls buying near the support and bears selling at resistance levels. Usually, such tight ranges are followed by an expansion in volatility. Although a few analysts have not ruled out a quick drop to low $40,000s, most traders expect Bitcoin to rebound sharply and move up to $60,000. Goldman Sachs said in a note to investors that if Bitcoin continues to increase its market share over gold as a store of value and crosses the 50% mark, then it could rally to $100,000 over the next five years. Daily cryptocurrency market performance. Source: Coin360 On-chain analytics provider Glassnode said in its report on Monday that Bitcoin’s illiquid supply has increased to more than 76% of the total circulating supply. According to Gl...
Mozilla Foundation announces it is accepting crypto donations
Member of the community were displeased by the move, with some threatening withdrawal of monthly donations Mozilla Foundation disclosed last Friday that it would be taking donations in crypto coins. The foundation, whose subsidiary Mozilla corporation oversees several internet-linked applications, including popular browser Mozilla Firefox, noted it would accept Dogecoin, Ether and Bitcoin. The announcement detailed that the non-profit organisation’s move would be facilitated by the popular crypto payments processing firm BitPay. The donations received in crypto would be converted into fiat to skirt any potential volatility. “Dabble in Dogecoin? HODLing some Bitcoin & Ethereum? We’re using BitPay to accept donations in cryptocurrency,” Mozilla posted on Twitter. Many users disapproved o...
