Dogwifhat (WIF), a meme coin recently listed on Coinbase and Robinhood, has seen its market cap plummet by $1.2 billion in three days, with its price dropping 12% to $2.83. This decline follows a broader downturn in meme coins, despite Bitcoin's partial recovery. WIF's listing initially spurred a price surge, but the trend reversed, highlighting the volatility of meme coins. Coinbase and Robinhood's listings had short-term impacts, with Bybit leading in WIF trading volume. The crypto market remains volatile, especially for meme coins.
Cardano (ADA) has experienced a significant price drop, falling 21% over the past week. Despite this, analyst Dan Gambardello predicts ADA could surge to $3 by January 2025, citing historical trends. However, analyst Ali Martinez highlights immediate challenges, noting a critical support level at $1.20 and bearish on-chain data, including a decline in address activity. The market remains cautious, with many ADA holders facing unrealized losses, potentially leading to further selling pressure.
Ethereum has outperformed Bitcoin recently, with a notable 8% price increase over the past week, compared to Bitcoin's 3% gain. A golden cross, where the 50-day SMA surpasses the 200-day SMA, has appeared on Ethereum's chart, suggesting a potential altcoin season. The altcoin season index supports this, showing a value of 86, indicating an ongoing altcoin season. Other altcoins like XRP, BNB, and Dogecoin have also seen price hikes. However, despite these bullish trends, investor sentiment remains bearish, which could impact the altcoin season's sustainability.
XRP's price surge to $1.95 has brought it close to the $2.00 mark, with potential for further gains if momentum continues, though a pullback is possible due to overbought conditions. Shiba Inu (SHIB) is nearing $0.00003, with strong buying momentum suggesting it could erase another zero, while Pepe (PEPE) has broken a descending trendline, indicating a potential recovery if it maintains its breakout. All three cryptocurrencies show signs of bullish activity, but traders should watch volume levels and RSI indicators for sustainability.
Ethereum (ETH) recently hit the $3,600 mark but faced a slight pullback, trading at $3,577.87. Despite increased selling pressure as over 90% of investors were in profit, technical indicators suggest a potential breakout above $3,600, possibly reaching $3,900. Whale confidence and high open interest indicate bullish sentiment, with the 9-day MA above the 21-day MA and high On Balance Volume supporting a positive outlook. However, failure to break $3,600 could see ETH fall to $3,300 support.
Leading cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, experienced declines as long-term investors locked in profits, with Bitcoin dropping to an intraday low of $90,770 before recovering slightly. Despite the sell-off, analysts anticipate a potential rebound, citing buy signals and institutional buying. Meanwhile, the global cryptocurrency market cap fell by 2.29%, and U.S. stock markets reached new highs amid expectations of a Federal Reserve rate cut.
Bitcoin is nearing the $100,000 mark, having surged 40% since November 5, amid expectations of a crypto-friendly U.S. administration. The cryptocurrency recently broke out from a pennant pattern, indicating a continued bullish trend, with a projected price target of $118,000. Key support levels to watch are $93,000 and $70,000, which could attract buying interest during pullbacks.
XRP has surged past $1, driven by high trading volumes and investor interest, but faces resistance at $1.10, with potential for a correction due to overbought signals. Shiba Inu is stagnating, struggling to maintain growth amid sell pressure and a large token supply. Meanwhile, Bitcoin has surpassed $90,000, but a divergence in its RSI suggests potential instability and a possible market correction, which could impact altcoins reliant on Bitcoin's momentum.
Bitcoin's price has surged to an all-time high of $93,120, driven by Donald Trump's election victory, rumors of a Bitcoin strategic reserve, and favorable US inflation data. Trading firm QCP predicts Bitcoin could reach $120,000, citing potential government shifts from gold to digital assets and a possible rate cut by the Federal Open Market Committee. However, QCP warns of risks from excessive leverage in altcoins. Other analysts, like VanEck's Matthew Sigel, are also optimistic, projecting Bitcoin could top $180,000 by next year.
Cardano (ADA) has recently surged over 20%, trading near $0.72, breaking through key moving averages and resistance levels, sparking discussions about its potential to reach new price milestones by mid-2025. Despite strong bullish momentum indicated by technical metrics like RSI and MACD, which suggest possible short-term corrections, on-chain data shows increased network activity and user engagement. The derivatives market reflects growing trader confidence, though caution is advised due to potential volatility from over-leverage. Cardano's future growth hinges on maintaining momentum and overcoming resistance.
Shiba Inu (SHIB) is experiencing a significant price recovery, drawing attention as it surpasses key resistance levels, suggesting potential for further gains amid an altcoin rally. Bitcoin (BTC) is also showing strength, nearing the $80,000 mark after breaking past $70,000, with strong volume supporting its upward trend. Meanwhile, Toncoin (TON) is poised for a bullish reversal, having broken above the 50-day EMA, indicating potential for further growth if it maintains current support levels.
Bitcoin's trading volume surged as investors reacted to the potential bullish impact of Donald Trump's administration on the cryptocurrency market. Despite a slight dip from its all-time high of over $76,000, Bitcoin remains strong, with $128 million worth of BTC traded in the past 24 hours. Analysts suggest that Trump's pro-crypto promises, including creating a Bitcoin reserve and removing SEC Chair Gary Gensler, could support the rally. However, uncertainty remains, especially with the upcoming Federal Reserve decision on interest rates.
Meme coins like PepeCoin, Dogecoin, and BONK have seen double-digit gains as the crypto market surges, with Pepe leading the charge with a 35.6% increase in the past 24 hours and a 421.8% increase over the past week. Other meme coins, including BONK, Shiba Inu, and Dogecoin, have also experienced significant gains. However, meme coins are known for their high volatility and often have little utility beyond speculation, with some facing low liquidity. Despite this, Dogecoin, originally created as a joke, has seen growing utility and applications such as payment integrations and the creation of unique assets on its blockchain.
Bitcoin's price saw a rebound, rising by about 3% to $43,870.01, following a previous day's sell-off due to concerns over the approval of a bitcoin ETF by the U.S. Securities and Exchange Commission (SEC). The market is anticipating the SEC's decision, which could come as early as next week, particularly for the Ark 21Shares bitcoin ETF. The potential approval of bitcoin ETFs is expected to be a significant catalyst for Bitcoin's price and could attract a wave of new investors to the crypto market. The overall crypto market also experienced gains, with notable increases in the value of ether, Solana's SOL token, and stocks of companies like Coinbase and MicroStrategy.
Cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, experienced significant losses, with over $600 million in long positions liquidated in 24 hours. The market reacted negatively to a report suggesting the SEC would reject spot Bitcoin ETF applications, contradicting earlier predictions of approval and a price surge. Despite the downturn, some analysts suggest buying the dip, with Bitcoin expected to trade within certain ranges in the near future. The overall crypto market cap fell by 1.23%, and traditional stock indices also saw declines.
