Square Site Map
The recent surge in the cryptocurrency market, led primarily by bitcoin org information
, Ethereum, and XRP, has added an impressive $600 billion to their combined market cap. This rally is largely attributed to the growing anticipation around BlackRock’s application for a Bitcoin spot exchange-traded fund (ETF) in June, as explained by The Economic Ninja, a prominent analyst.
BlackRock’s potential entry into the Bitcoin ETF space has caused a significant stir on Wall Street. Notably, Kathy Wood, the founder of Ark Invest, has expressed optimism about this development. She views BlackRock’s Bitcoin ETF filing as a pivotal moment that could significantly boost Bitcoin’s value in the coming years.
The combined market cap of major cryptocurrencies like Bitcoin, Ethereum, and XRP reached a high of around $3 trillion in late 2021. However, the market experienced a dramatic downturn in 2022, with over $2 trillion in value being wiped out, leading to the collapse of several crypto companies.#ContentStar##HotTopicDiscussion##Gate Post Highlights##StarGrowthProgram##HotColumn# #StarGrowthProgram#Dogecoin Price Prediction as DOGE Becomes Best Performing Coin in the Market – Time to Buy?
Whilst the broader crypto market consolidates, Dogecoin (DOGE) is heating up.
The crypto industry’s first and largest meme coin by market capitalization hit its highest level since April at $0.0877 on Friday, and despite pulling back to the $0.083s at the time of writing, is still up around 5% in the last 24 hours, as per CoinGecko.
That means that Dogecoin is the best-performing cryptocurrency in the top 20 by market capitalization on Friday, which shouldn’t be too surprising given the sudden surge in trading volumes seen on Friday.
According to Yahoo data, trading volumes have already exceeded $2.1 billion on Friday, the highest daily figure since April and up more than 10x versus late October’s lows, where daily trading volumes slumped as low as $200 million amid a lull in market activity at the time.
At current levels, DOGE is now up a stunning more than 40% from October’s lows in the $0.057 area, with other metrics besides the cryptocurrency’s price and trading volumes also showing a quickly heating up market.
As per crypto derivatives data analysis website Coinglass, the open-interest weighted funding rate of outstanding leveraged Dogecoin futures positions has been pushing steadily higher since mid-October, when the latest market recovery really got going.
This suggests stronger demand for long positions than short positions, as it shows that traders taking out leveraged long futures positions are paying an increasing funding premium to those taking out short positions.Moreover, Coinglass data also shows that open interest of outstanding Dogecoin futures just hit its highest level since July at over $470 million, showing traders are placing bigger bets on the cryptocurrencyWhile the Dogecoin market is certainly heating up, a strong argument can be made that the latest market rise hasn’t been driven by a short squeeze.
Coinglass data relating to futures position liquidations in the Dogecoin market shows that, while liquidations have spiked since Dogecoin started picking up in mid-October, it’s still mostly long bets that have been getting wiped out.Crypto News
All
Cryptonews Price Predictions Dogecoin Price Prediction as DOGE Becomes Best Performing Coin in the Market – Time to Buy?
17 November 2023 14:36 EST . 3 min read
Joel Frank
@joel-frank
Dogecoin Price Prediction as DOGE Becomes Best Performing Coin in the Market – Time to Buy?
Whilst the broader crypto market consolidates, Dogecoin (DOGE) is heating up.
The crypto industry’s first and largest meme coin by market capitalization hit its highest level since April at $0.0877 on Friday, and despite pulling back to the $0.083s at the time of writing, is still up around 5% in the last 24 hours, as per CoinGecko.
That means that Dogecoin is the best-performing cryptocurrency in the top 20 by market capitalization on Friday, which shouldn’t be too surprising given the sudden surge in trading volumes seen on Friday.
According to Yahoo data, trading volumes have already exceeded $2.1 billion on Friday, the highest daily figure since April and up more than 10x versus late October’s lows, where daily trading volumes slumped as low as $200 million amid a lull in market activity at the time.
At current levels, DOGE is now up a stunning more than 40% from October’s lows in the $0.057 area, with other metrics besides the cryptocurrency’s price and trading volumes also showing a quickly heating up market.
As per crypto derivatives data analysis website Coinglass, the open-interest weighted funding rate of outstanding leveraged Dogecoin futures positions has been pushing steadily higher since mid-October, when the latest market recovery really got going.
This suggests stronger demand for long positions than short positions, as it shows that traders taking out leveraged long futures positions are paying an increasing funding premium to those taking out short positions.
Moreover, Coinglass data also shows that open interest of outstanding Dogecoin futures just hit its highest level since July at over $470 million, showing traders are placing bigger bets on the cryptocurrency.
While the Dogecoin market is certainly heating up, a strong argument can be made that the latest market rise hasn’t been driven by a short squeeze.
Coinglass data relating to futures position liquidations in the Dogecoin market shows that, while liquidations have spiked since Dogecoin started picking up in mid-October, it’s still mostly long bets that have been getting wiped out.
That could mean two things; 1) that Dogecoin could yet benefit from a more sustained short-squeeze to send its price higher and 2) that the risk of long-liquidation-fuelled pullbacks in the market are low, given overly aggressive long positions have seemingly been consistently getting wiped out amid Dogecoin’s latest price rally.
Price Prediction – Time to Buy?
Dogecoin has come a long way in recent weeks and, as such, some investors might be asking whether it is too late to buy the cryptocurrency.
Well, recent technical developments, as well as bullish broader crypto market themes, mean that Dogecoin price predictions are set to remain bullish, meaning it is probably still a good time to buy the cryptocurrency.
Chart analysis shows that Dogecoin broke out of a long-term pennant structure to the upside in early November after finding strong support at its 200DMA, a strong confluence of bullish technical indicators that signal a price risks are strongly tilted to the upside in the medium-term.
Bulls will likely be targeting a retest of 2023 highs at $0.1050 in the coming weeks/months.Crypto News
All
Cryptonews Price Predictions Dogecoin Price Prediction as DOGE Becomes Best Performing Coin in the Market – Time to Buy?
17 November 2023 14:36 EST . 3 min read
Joel Frank
@joel-frank
Dogecoin Price Prediction as DOGE Becomes Best Performing Coin in the Market – Time to Buy?
Whilst the broader crypto market consolidates, Dogecoin (DOGE) is heating up.
The crypto industry’s first and largest meme coin by market capitalization hit its highest level since April at $0.0877 on Friday, and despite pulling back to the $0.083s at the time of writing, is still up around 5% in the last 24 hours, as per CoinGecko.
That means that Dogecoin is the best-performing cryptocurrency in the top 20 by market capitalization on Friday, which shouldn’t be too surprising given the sudden surge in trading volumes seen on Friday.
According to Yahoo data, trading volumes have already exceeded $2.1 billion on Friday, the highest daily figure since April and up more than 10x versus late October’s lows, where daily trading volumes slumped as low as $200 million amid a lull in market activity at the time.
At current levels, DOGE is now up a stunning more than 40% from October’s lows in the $0.057 area, with other metrics besides the cryptocurrency’s price and trading volumes also showing a quickly heating up market.
As per crypto derivatives data analysis website Coinglass, the open-interest weighted funding rate of outstanding leveraged Dogecoin futures positions has been pushing steadily higher since mid-October, when the latest market recovery really got going.
This suggests stronger demand for long positions than short positions, as it shows that traders taking out leveraged long futures positions are paying an increasing funding premium to those taking out short positions.
Moreover, Coinglass data also shows that open interest of outstanding Dogecoin futures just hit its highest level since July at over $470 million, showing traders are placing bigger bets on the cryptocurrency.
While the Dogecoin market is certainly heating up, a strong argument can be made that the latest market rise hasn’t been driven by a short squeeze.
Coinglass data relating to futures position liquidations in the Dogecoin market shows that, while liquidations have spiked since Dogecoin started picking up in mid-October, it’s still mostly long bets that have been getting wiped out.
That could mean two things; 1) that Dogecoin could yet benefit from a more sustained short-squeeze to send its price higher and 2) that the risk of long-liquidation-fuelled pullbacks in the market are low, given overly aggressive long positions have seemingly been consistently getting wiped out amid Dogecoin’s latest price rally.
Price Prediction – Time to Buy?
Dogecoin has come a long way in recent weeks and, as such, some investors might be asking whether it is too late to buy the cryptocurrency.
Well, recent technical developments, as well as bullish broader crypto market themes, mean that Dogecoin price predictions are set to remain bullish, meaning it is probably still a good time to buy the cryptocurrency.
Chart analysis shows that Dogecoin broke out of a long-term pennant structure to the upside in early November after finding strong support at its 200DMA, a strong confluence of bullish technical indicators that signal a price risks are strongly tilted to the upside in the medium-term.
Bulls will likely be targeting a retest of 2023 highs at $0.1050 in the coming weeks/months.
Given that the broader crypto market looks set to remain strongly support by 1) optimism about upcoming spot crypto ETFs and 2) bets that the Fed’s tightening cycle is over, traders shouldn’t be surprised to see more Dogecoin upside in the near future.
Crypto Alternative to Consider – Meme Kombat ($MK)
Dogecoin offers great near-term upside prospects.
But meme coin degens who want a better probability of securing 10x gains should check out a newly launched utility packed meme coin called Meme Kombat.
Meme Kombat blends together the worlds of crypto gaming and gambling with its exciting platform were users are able to bet on the outcomes of exciting battles between characters based on some of the crypto world’s most popular meme coins.
Early $MK investors can also benefit from generous staking rewards, which are currently more than 100% annually.
The project has already raised close to $1.8 million, despite launching just weeks. 🚀 𝗣𝗼𝗹𝘆𝗴𝗼𝗻 (𝗠𝗔𝗧𝗜𝗖) 𝗣𝗿𝗶𝗰𝗲 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀: 𝗖𝗮𝗻 𝗶𝘁 𝗦𝗼𝗮𝗿 𝘁𝗼 $𝟮?
Breaking through the $0.90 barrier on November 14, Polygon (MATIC) showcased a stellar monthly gain of 15%. Emerging as a top performer among November's top 20 crypto gainers, MATIC's upward trajectory is underlined by bullish indicators and a notable collaboration.
📈 Bullish Signals and Collaborative Boost:
MATIC's resilience is underscored by key indicators, positioning it as a potential forerunner in the market. A recent partnership with OKX, culminating in the launch of X1—a zKEVM layer-2 network developed with Polygon CDK—has triggered positive reactions within the Polygon community.
🔗 OKX Collaboration and Price Surge:
The collaboration's announcement spurred a significant surge, propelling MATIC above $1 for the first time in nearly four months. Despite being in the testnet phase, MATIC holders swiftly seized the opportunity, anticipating gains from enhanced scalability and increased adoption.
📊 Network Usage and Price Rally:
In-depth analysis reveals that the recent rally in MATIC's price is intricately tied to a surge in network usage. The Polygon network's transaction count has soared to its highest level since September 28, reflecting growing interest and utilization.
💡 Future Prospects:
As MATIC continues to garner attention and capitalize on collaborative ventures, the question arises: Can it breach the $2 mark? The positive sentiment within the community, coupled with rising network activity, positions MATIC as a cryptocurrency to watch in the coming days.
🌐 Conclusion:
Polygon's journey to $2 hinges on sustained collaboration, network scalability, and community enthusiasm. With the current momentum and positive developments, the $2 milestone for MATIC remains a plausible target.
#ContentStar# #BountyCreator# #GateioBountyCreator# #NewsMessenger# #GateLive# #contentstar# #MyFancyCreator# #HotTopicDiscussion# XRP to $11: Here’s the Projected Potential Timeline
Market analysts foresee a promising future for XRP, considering its unique status as the only altcoin with clear regulatory status in the United States. Changelly, a crypto trading platform, offers an optimistic outlook with a forecast of $10 within the next 7 years. The bullish stance extends further, suggesting an ultimate All-Time High (ATH) of approximately $26 by 2032.
Potential Catalysts for XRP Growth
XRP has demonstrated impressive price action this year, currently at $0.6111. Changelly's projections imply a 1,700% surge for the $10 target and a remarkable 4,154.6% growth for the $26 projection by 2032. Key catalysts include:
1. Clear Regulatory Status: XRP's regulatory clarity in the U.S. sets a foundation for growth.
2. Programmatic Sales Ruling: Judge Analisa Torres' ruling on XRP's programmatic sales as not qualifying as securities offerings boosted investor confidence.
3. Ripple Labs' Partnerships: Collaborations with Uphold, HSBC, and Metaco contribute to XRP's adoption in payment solutions.
Adoption Growth and Potential Price Surge
XRP's role in Ripple Labs' payment revolution, combined with growing institutional demand and retail embrace, could contribute to its price surge. As adoption expands and partnerships integrate XRP, achieving Changelly's projected milestones becomes an intriguing possibility.
#ContentStar# #BountyCreator# #GateioBountyCreator# #NewsMessenger# #GateLive# #contentstar# #MyFancyCreator# #HotTopicDiscussion# 
