TronWeekly

Crypto World News

You are here: Home / Archives for Lipika Deka

Lipika Deka

XRP on Fire: Bullish Signal & Potential $3.84 Surge

by

  • XRP is showing strong bullish signals, with technical analysts predicting a significant price surge.
  • A potential collaboration between Ripple and Cardano could unlock new opportunities and drive demand.
  • The departure of former SEC Chair Gary Gensler could create a more favorable regulatory environment for XRP.

XRP, the Ripple-backed token, is garnering significant attention from analysts and investors. The token’s bullish technical indicators coupled with rumors of SEC Chair Gary Gensler’s exit have ignited speculation about a potential price surge.

Technical analysts suggest that the altcoin is poised for a significant upward move as evidenced by the bullish Elliott Wave pattern and the recent price action. Investors and traders should keep a close eye on the key resistance levels at $1.33 and $1.88. If the token manages to break above $1.88, this could pave the way for a potential retest of the all-time high of $3.84.

While technical is the only side of the picture, an upcoming collaboration with a major blockchain platform could be the catalyst for growth.

As reported earlier, industry collaborations are also fueling optimism for XRP. Cardano founder Charles Hoskinson has expressed interest in integrating XRP into the Cardano ecosystem, potentially unlocking new opportunities for the cryptocurrency. This strategic partnership could enhance XRP’s utility and drive demand.

XRP’s Regulatory Tailwinds: A Persistent Challenge

This unexpected partnership between the two executives also comes at a shifting political landscape in the U.S. President-elect Trump has adopted a pro-crypto stance, which could be advantageous for the industry amid rising regulatory scrutiny and market volatility. By teaming up, Hoskinson and Garlinghouse aim to strengthen the industry’s position and advocate for policies that promote innovation and protect consumer interests.

While the technical and fundamental factors are bullish, regulatory uncertainty remains a significant challenge for XRP. For instance, the ongoing legal battle between Ripple and the SEC which is currently nearing its conclusion in an appellate court remains a cause of concern. Also Gensler’s departure may offer some hope for a more lenient regulatory environment, but it’s important to note that broader regulatory factors will continue to influence the cryptocurrency industry.

Overall, market watchers are optimistic about XRP’s bullish technical outlook, coupled with potential industry collaborations However, it is crucial to exercise caution and conduct thorough research before making any investment decisions. As always, staying informed about the latest market developments and regulatory updates is essential.

Shiba Inu’s Bullish Pennant Formation Signals Potential Rally

by

  • Shiba Inu displays a strong bullish technical pattern, indicating the potential for significant price growth.
  • A recent surge in the SHIB burn rate has reduced the circulating supply, which could positively impact the token’s price.
  • The Shiba Inu development team has unveiled plans for a major marketing push in 2024, which could attract new investors and boost the token’s visibility.

Shiba Inu (SHIB), the popular meme coin, is flashing signs of a potential breakout. Technical analysis has pointed out a bullish pennant formation accompanied by decent trading volume. This technical pattern often precedes a significant price surge.  This, combined with a recent burn rate of 6200%, has strengthened bullish sentiment, reflecting the law of supply and demand.

In the 1-hour chart, a bullish pennant has emerged which indicates a period of consolidation before the next big move. This bullish pattern, along with increasing trading volume and a surge in the burn rate, suggests that SHIB is gearing up for a potential price surge.

As per Shibburn data, 290,321 tokens were sent to dead wallets or permanently removed from circulation. This uptick in burn activity underscores the community’s initiative and the heightened interest in the meme coin as market supply tightens. A weekly reduction of 135 million SHIB tokens has fueled the bullish sentiment.

To top that, the number of Shiba Inu holders has reached a record high of 1,427,381, indicating strong community support and growing investor interest. This bullish sentiment, coupled with the potential catalyst of the upcoming US presidential inauguration, could further fuel the rally.

Shiba Inu
Source: ChiefofTradez

Shiba Inu’s consolidation phase looks like it’s closing. Now we accumulate til the next catalyst which IMO (Not advice) looks like January 20th during the inaugural ceremony of the next President of the United States of America. Who is pro-cryptocurrency?

Shiba Inu Developer Teases Aggressive Marketing Plans for 2024

While it’s important to note that cryptocurrencies are highly volatile assets, the current market conditions and technical indicators suggest that Shiba Inu may be poised for a significant upward move.

Meanwhile, Shiba Inu’s Shytoshi Kusama has sent out a teaser hinting at a major marketing push in 2024. Kusama, a key developer of the project, recently announced that an extensive marketing plan has been approved by the Shiba Inu team.

While specific details are not yet revealed, Kusama urged the Shiba Inu community to reach out to their favorite cryptocurrency exchanges and voice their support for the project. This suggests that the marketing campaign may involve significant exchange listings or partnerships.

Floki Listed! Insider Wallets Show the Next Memecoin Jackpot

by

  • Tier-1 exchanges like Coinbase and Binance secretly accumulate memecoins before public listings.
  • Recent Coinbase listings of PEPE, WIF, and FLOKI spark excitement.
  • On-chain analysis reveals insider wallets profiting from memecoin surges.

Crypto exchanges’ recent meme coins listings including Floki Inu without prior announcements have raised speculation of insider strategy. There’s no doubt that the meme coin market is in a frenzy as Tier-1 exchanges such as Coinbase and Binance introduce new tokens at rapid space. Market observers believe that these platforms are capitalizing on the meme coin craze, attracting massive trading volume and generating substantial profits through fees.

However, one analyst suggests that insiders are secretly accumulating meme coins before public listings, setting the stage for massive gains. He termed this as the Tier-1 exchange effect. For instance, Coinbase, in recent months, has listed tokens like PEPE and WIF out of the blue, catching the market off guard. Now, Floki Inu has too joined the bandwagon, fueling speculation of insider trading patterns. This strategy has led to significant windfalls for early investors, with some tokens like PNUT and ACT delivering up to 100x gains.

Floki Inu
Floki Listed! Insider Wallets Show the Next Memecoin Jackpot 3

Based on-chain data, wallets linked to these exchanges have accumulated specific meme coins well before their official listings. With a combined strategy of buying low and capitalizing on post-listing price surges, insiders have reaped huge rewards. This pattern underscores the importance of identifying potential meme coins before they hit major platforms.

Floki Inu: Memecoin Profits Driven by Insider Accumulation

As per the analyst, the latest meme coin trend goes beyond just hype, it’s about timing. On-chain analysis suggests that exchanges strategically buy tokens in advance, leveraging market demand to drive prices higher after listing. For investors, this presents both an opportunity and a challenge: to identify the next breakout token before it becomes mainstream.

Coinbase’s recent addition of Floki Inu signals a continuation of this trend, with the memecoin community eagerly watching for the next big move. As more investors become aware of the Tier-1 exchange effect, the competition to spot insider wallets and profitable tokens intensifies.

Cathie Wood & Brian Armstrong Say DOGE will Ignite The Spark

by

  • Cathie Wood and Brian Armstrong champion DOGE as a tool to limit government overreach and promote economic freedom.
  • Musk’s appointment to lead DOGE initiatives under the Trump administration could accelerate crypto adoption and create favorable regulatory conditions.
  • By limiting government spending, aligning incentives, and empowering individuals, DOGE could reshape the global financial landscape.

Renowned investor Cathie Wood of Ark Invest has echoed the sentiment of Coinbase CEO Brian Armstrong highlighting the potential of Dogecoin (DOGE) to reduce government overreach and promote economic freedom. Both leaders have thrown support behind the new “Department of Government Efficiency” and its potential to revolutionize the digital asset landscape.

Recently Elon Musk made headlines by announcing his appointment to lead DOGE initiatives under President-elect Donald Trump’s administration. The proponents of the meme coin suggest that Musk’s involvement in government may indirectly create favorable conditions for crypto adoption.

Cathie Wood, a known personality in the crypto space cited the economic principles of Art Laffer and underscored the negative effects of excessive government spending. She emphasized how overspending leads to increased taxation, future debt burdens, and inflationary pressures. The top exec suggested that cryptocurrencies like DOGE could play a key role in limiting government expenditure and aligning incentives for fiscal responsibility.

Cathie Wood: Crypto Leaders Propose Radical Solutions

In his original tweet, Armstrong doubles down on DOGE as the gateway for economic freedom. He argued that cryptocurrency could significantly curb the size of government and protect individual liberties. He also proposed several innovative solutions such as constitutional amendments, incentive alignment, and sovereign wealth fund.

To future proof this, we may need a constitutional amendment capping total government expenditure (at say 10%), or a way to align incentives (Buffet famously suggested an unbalanced budget makes all members of congress who vote for it ineligible for reelection)….An example would be a U.S. sovereign wealth fund, where every citizen gets a share (maybe people can buy more if they want), and any budget surplus pays a dividend. Every citizen then has skin in the game. Maybe congress gets a slightly larger stake.

Cathie Wood’s endorsement of Armstrong’s vision has ignited discussions about the transformative power of cryptocurrencies. By limiting government overreach, promoting individual financial empowerment, and fostering economic freedom, DOGE and other cryptocurrencies could reshape the global financial landscape.

As the crypto industry continues to evolve, the ideas presented by Wood and Armstrong offer a glimpse into a future where technology and economic principles converge to create a more equitable and prosperous world.

SUI Price on the Boil: Could Skyrocket 20%

by

  • Sui’s total value locked (TVL) and DeFi volume surged over the past year, showcasing its growing popularity.
  • Investment firm VanEck launched a financial product backed by the asset, offering wider access to the token for investors.
  • The launch of VanEck’s product and other recent developments indicate increasing institutional confidence in the Sui network.

The Sui network has been gaining momentum, with notable growth in price and DeFi volume over the past year—this surge in activity signals rising interest in the network and its potential.

With respect to price, the network’s native token is currently testing a significant resistance level on the 4-hour chart. A breakout above this barrier could propel the asset to a potential surge of the $4.10 mark, representing roughly 20% upside. Traders are closely monitoring the price action, as a move above this level could signal bullish momentum and attract increased buying interest.

As per analysts, the next few hours would be crucial to determine whether SUI gains traction to reach its anticipated target. Investors are advised to monitor trading volumes and volatility indicators as the token approaches this key resistance.

The Sui network, a layer-1 blockchain platform developed by Mysten Labs, has emerged as a promising contender in the decentralized finance (DeFi) landscape. With its focus on scalability, security, and user experience, the crypto platform aims to address the limitations of existing blockchain networks.

VanEck Introduce SUI ETN

Adding to this positive trend, investment firm VanEck has launched a financial product backed by SUI. This move is expected to broaden access to the token for a wider range of investors. By offering a simpler way to invest in the token without the complexities of managing digital wallets, VanEck aims to attract a new wave of users to the network.

SUI
Source: Matthew Sigel

This development follows a series of events showcasing institutional confidence in the asset. Services from Copper and the integration of stablecoins like USDC and AUSD onto the network further solidify its position in the blockchain ecosystem.

As the Sui network continues to mature and attract more institutional support, it holds the potential to become a major player in the decentralized finance landscape.

Solana’s DeFi Dominance Amid Price Surge: A Perfect Storm

by

Solana DEX ecosystem has soared to new highs, as trading volume reached historic highs, surpassing $5 billion daily for three days. With a 60% market share is Radium, driving nearly $16 billion of this volume from November 10 to 16, per DeFiLlama data. This milestone highlights Solana’s growing significance in the DeFi ecosystem.

On the price front, Solana is set on a bullish path with the potential for significant upside in the coming months. As seen in the below chart, the token has formed a bullish flag pattern, suggesting a potential breakout to the upside.

With the current price consolidating between $200 and $220, the trend offers a healthy opportunity for accumulation before a potential breakout. Once the price breaks above the resistance level, it could aim for the target zone around $300 to $320.

Solana
Source: John Luciam

Several technical indicators also support a bullish outlook. The Relative Strength Index (RSI) is currently in oversold territory, indicating potential for a rebound. Additionally, the Moving Average Convergence Divergence (MACD) is showing a bullish crossover, further confirming the bullish sentiment.

While the exact timing of the breakout is uncertain, many analysts believe that a significant price surge could occur in the first quarter of 2025. Investors and traders should keep a close eye on Solana’s price action and technical indicators for potential entry and exit points.

Solana’s Liquid Staking Hits $5.6 Billion Market Cap

Meanwhile, Solana’s liquid staking ecosystem has skyrocketed, hitting a $5.67 billion market cap alongside a staking ratio of 8.10%. Its need to noted that liquid staking lets stakers lock their assets while retaining the option to trade them. This enhances flexibility and can increase staking returns.

SOL- based liquid staking tokens such as JitoSOL, which currently holds a nearly 43% market share, Marinade’s mSOL, with a 16.8% share, and jupSOL with 12% are hearing up the network.

This burgeoning interest in liquid staking reflects both Solana’s network advancements and investors’ desire for optimized returns without long-term asset lockups. 

Solana’s unique consensus mechanisms and low transaction fees is what makes it appealing for staking. Liquid staking also provides additional benefits, like letting staked assets be used across DeFi ecosystems.

Cardano’s V2 Upgrade: A Technical Deep Dive

by

Cardano prepares for a major overhaul with the upcoming v2. This upgrade is set to enhance the user experience by addressing scalability and finality through features like Leios and Peras. It also aims to implement a complete node rewrite—a more developer-centric feature.

As per a community member, this architectural transformation is designed to make Cardano’s node more extensible, allowing for a wider range of functionalities and integrations.

Notably, the upcoming upgrade will address the two key aspects of blockchain technology: decentralization and functionality. Cardano’s straightforward node design gives priority to decentralization by minimizing system requirements. This approach could lead to a fragmented ecosystem where various external services handle specific node functionalities, bringing complexity and potential inefficiencies.

Exploring the Future of Cardano’s Node

To strike an optimal balance between decentralization and functionality, experts suggest that Cardano should take inspiration from projects like Polkadot/Substrate or Cosmos. These models offer mechanisms for extending the core system through modular components, either by using a common compilation target or message passing systems.

In addition to that, leveraging zero-knowledge (ZK) cryptography could enable Cardano to delegate certain computations to external systems, reducing the node’s workload and increasing its scalability. This approach has been used in projects like Ethereum exploring ZK-powered execution extensions.

Cardano (ADA) Weekly Chart Signals Potential for Explosive Growth

As a decentralized platform, ADA holders will be able to vote on the proposed node architecture and other key decisions through the platform’s governance mechanism.

Overall, the upcoming v2 represents a pivotal moment for the platform, promising to deliver significant advancements in scalability, security, and developer experience.

On the price front, the token’s weekly chart is showing signs of bullish momentum with ADA currently trading between strong support and resistance levels. Analysts believe that a breakout from this range could trigger a significant price surge, potentially propelling ADA towards the $1 mark.

Cardano
Source: Sssebi

While the exact timing of such a move remains uncertain, experts are optimistic about the long-term outlook for Cardano. The ongoing development of the blockchain and its growing ecosystem of decentralized applications are seen as key factors driving future price appreciation.

Cardano’s Hoskinson and Ripple CEO Garlinghouse Pledge Collaboration

by

  • Cardano founder Charles Hoskinson and Ripple CEO Brad Garlinghouse announce a collaborative effort to shape the future of cryptocurrencies.
  • The partnership aims to strengthen the industry’s position, advocate for favorable policies, and drive innovation.
  • The blockchain network is rapidly expanding its interoperability with other networks, attracting significant market attention.

Charles Hoskinson, founder of Cardano, and Brad Garlinghouse, CEO of Ripple, have dropped the bombshell. The two titans of the crypto industry have announced their intention to collaborate. This unexpected partnership has sparked a wave of excitement in the crypto community and speculation about its potential impact.

Hoskinson, in his tweet, admired Garlinghouse’s leadership and collaborative spirit. He highlighted the need for industry leaders to unite and work together to shape the future of cryptocurrencies. Echoing similar sentiments, Garlinghouse has emphasized the importance of a level playing field and regulatory clarity for the industry.

This newfound camaraderie between the two executives comes at a pivotal time, as the U.S. political landscape shifts. The Trump administration has adopted a pro-crypto stance, which could be advantageous for the industry amid rising regulatory scrutiny and market volatility. By teaming up, Hoskinson and Garlinghouse aim to strengthen the industry’s position and advocate for policies that promote innovation and protect consumer interests.

Cardano’s Interoperability Boom: ADA Price Soars

While the specific details of their partnership have not yet been disclosed, experts speculate that it could involve a multitude of initiatives, ranging from joint research and development projects to lobbying efforts and industry standards. Some believe that the partnership could lead to the creation of new blockchain solutions or interoperability protocols that bridge the gap between different platforms.

Following the announcement, the crypto community has responded enthusiastically with many expressing hope that this collaboration will foster a new era of cooperation and progress in the industry. As the two biggest forces of crypto join forces, the world watches with anticipation, eager to see what they will achieve together.

Meanwhile, the Cardano ecosystem has embarked on rapid expansion projects across the network. According to one prominent member, the smart contact-enabled blockchain has connected with multiple blockchain networks, including Bitcoin, Midnight (a zero-knowledge protocol), and partner chains built on Substrate. This surge in interoperability has attracted market interest in ADA, as its price jumped 80% over the past week.

Dogecoin Eyes Major Breakout Amid Musk’s Rising Influence in Washington

by

  • Dogecoin breaks out of a descending triangle, signaling bullish potential.
  • Price targets are set at $0.70 for the mid-term and $3.00 for the long-term.
  • Musk’s government role may pave the way for broader crypto adoption.

Dogecoin is making waves after Elon Musk’s appointment to lead a new “Department of Government Efficiency” under President-elect Donald Trump. The announcement has sparked optimism among DOGE holders as many believe that Musk’s influence in Washington could potentially benefit the cryptocurrency sector.

The proponents of the meme coin suggest that Musk’s involvement in government may indirectly create favorable conditions for crypto adoption, especially if his companies start spearheading the adoption of Dogecoin or other cryptocurrencies.

Moreover, rumors are circulating about potential Dogecoin ETF or other financial products that could emerge, enhancing liquidity and mainstream access. Musk’s role could bolster his long-standing advocacy for the cryptocurrency, especially DOGE, which he has humorously championed on social media. As regulatory scrutiny intensifies, DOGE’s community views Musk as a possible ally who could advocate for favorable crypto policies.

Dogecoin Price Targets

Following the announcement, the technical analysis suggests a bullish pattern that could drive DOGE to new heights in the coming months. The token is back in the spotlight as it flirts with a significant price breakout.

Dogecoin
Source: Jonathan Carter

As seen in the chart, Dogecoin is on the cusp of a major breakout from a prolonged “descending triangle” pattern, a typically bearish setup that has transformed into an upward trend. Historically, DOGE has followed this pattern in previous cycles, where breaking out of the descending resistance has led to substantial price gains. Analysts are targeting a mid-term price of $0.70 and a long-term projection of $3.00, provided the current momentum holds.

Elon loves Doge. The growth potential of this asset is growing with Mask power. Expect at least a $DOGE payment in all of Elon’s companies, at most, an ETF. After the descending triangle breakout, looking at targets at $0.70 medium-term, and $3.00 long-term.

Cardano Blazes Ahead: A 72% Rally and Potential for More

by

  • Cardano’s ADA has soared over 72% in recent weeks, with analysts predicting a potential 330% upside.
  • Technical analysis suggests a massive rally for ADA, with potential gains exceeding 1,700%.
  • A new CIP focused on improving smart contract development and interoperability is set for implementation in 2025.

Cardano, the leading blockchain platform, has reached new heights as its native token, ADA, surged over 72% in weeks. This impressive performance has sparked renewed optimism among crypto enthusiasts, who are now eyeing a potential upside of over 330% to the $2.7709 level. 

Technical analysis suggests that Cardano is primed for a much larger rally, potentially pushing ADA to the $7.77 level or even higher. This would represent a gain of over 1,700% from current levels.

ADA is now starting to return with major strength and can be entering the next and most bullish phase of its breakout process! The first breakout target remains over 531% away at $2.7709, but history says this run could consist of over +1,700% to $7.77+!

However, it’s important to note that the cryptocurrency market is highly volatile, and prices can fluctuate rapidly. Investors should conduct thorough research and consider consulting with financial advisors before making any investment decisions. 

Cardano Founder Backs New Proposal for 2025 Implementation

Additionally, the introduction of a new Cardano Improvement Proposal (CIP) focusing on the Plutus Event Emit Standard is expected to further enhance the platform’s capabilities and attract developers. This CIP aims to simplify the development of smart contracts, improve interoperability, and enable the adoption of advanced concepts like account abstraction and contract-owned tokens.

Cardano
Source: @SebastienGllmt

Announcing support for the new Cardano Improvement Proposal (CIP), founder Charles Hoskinson confirmed that the proposal will be prioritized for the innovation team and targeted for implementation in the first quarter of 2025. This development bodes well with Cardano’s ongoing commitment to enhancing its network’s capabilities and user experience. By prioritizing this proposal, the blockchain team aims to further solidify its position as a leading blockchain platform.

As Cardano continues to evolve and gain traction, it will be interesting to see how the project performs in the coming months and years. With its focus on sustainability, security, and scalability, Cardano has the potential to become a major player in the blockchain industry.