TronWeekly

Crypto World News

You are here: Home / Archives for Lipika Deka

Lipika Deka

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. 

Is XRP the Next Dogecoin? Breakout to $1 Predicted

by

  • XRP is forming a bullish pattern that could lead to a significant price surge, similar to DOGE and ADA.
  • A successful breakout could propel the token towards the $1 mark or even higher.
  • While the long-term outlook is bullish, short-term price swings and market sentiment could impact XRP’s trajectory.

XRP, the token backed by Ripple, is gaining traction in the cryptocurrency market, with analysts speculating about a potential double-bottom formation versus Bitcoin. This technical pattern, historically associated with significant price surges, has also led to comparisons with other altcoins like Dogecoin (DOGE) and Cardano (ADA).

A double bottom occurs when a crypto asset’s price drops to a specific level twice, forming a pattern shaped like a “W” on the price chart. After the second touch, the price often rebounds sharply, as buyers take advantage of the low price and accumulate the asset.

If XRP successfully breaks above the $0.66 resistance level, analysts predict a potential surge to the $1 mark or even higher, with resistance expected around the $1.28 level. However, it’s important to remember that the cryptocurrency market is highly volatile, and prices can fluctuate rapidly.

XRP
Source: @Cryptoinsightuk

XRP about to pull a DOGE / ADA? I honestly feel a clean break of $0.66 and we send it $1+ Probably find resistance around $1.28

Some analysts, however, suggest that the recent price drop from $0.69 to $0.67 could be a temporary pullback before another upward move. They predict a potential rise to the $0.75 to $0.80 range, followed by a possible bear trap and further ascent to $0.90.

Temporary XRP Dip or Bullish Setup?

Not to forget as the US market wakes up, it could spur short-term selling pressure, resulting in a momentary pullback. However, with Bitcoin potentially reaching new all-time highs, XRP could also benefit from the overall bullish sentiment in the market.

While XRP has undoubtedly shown significant potential, it’s crucial to conduct thorough research and consider consulting with financial advisors before making any investment decisions. The cryptocurrency market is complex, and past performance is not indicative of future results.

As the altcoin continues to evolve and gain traction, it will be interesting to see how the project performs in the coming months and years. With Ripple’s focus on cross-border payments and blockchain technology, XRP has the potential to disrupt traditional financial systems.

Dogecoin Surges 97% in a Week Amid Musk-Trump Hype

by

  • Dogecoin price jumps 97% in a week, ranking sixth by market value.
  • DOGE’s trading volume rose by 215%, reaching $21.5 billion in 24 hours.
  • Experienced DOGE investor advises newcomers against risky trading strategies.

Dogecoin (DOGE) led the altcoin tally to post an impressive surge of 33% in the last 24 hours and an astonishing 97% over the past week, securing its position as the sixth-largest cryptocurrency by market value. The recent rally catapulted DOGE’s market capitalization to outstrip that of stablecoin major USDC, generating buzz among crypto enthusiasts and traders alike.

In terms of daily trading volume, DOGE hit a whopping $21.5 billion—a 215% increase from the previous day—signaling a dramatic spike in market activity. Notably, Dogecoin reached an all-time high at $0.7316, which was recorded on May 08, 2021 (over 3 years). Although the current price is nearly 61% lower than the all-time high price, the token’s performance is among the best in the lot given the current volatile market.

Analysts link the surge to Elon Musk’s and Donald Trump’s recent endorsements. Musk, a vocal Dogecoin supporter, hogged the limelight through various social media mentions and business integrations, including allowing Tesla merchandise to be bought with DOGE.

Additionally, Musk’s playful support is reinforced by Trump’s recent rally remarks where he humorously suggested Musk could lead a “Department of Governmental Efficiency,” abbreviated as “DOGE.” However, amid the excitement, experienced Dogecoin investor and advocate Mishaboar has issued a word of caution to new investors.

Dogecoin Developer Cautions

Mishaboar advises that newcomers should only invest what they can afford to lose, given the volatility of Dogecoin and the cryptocurrency market as a whole. He warns against the use of complex financial tools like leverage and derivatives, which can amplify both potential gains and losses, and can be detrimental to less experienced traders.

Dogecoin
Dogecoin Surges 97% in a Week Amid Musk-Trump Hype 4

Overall, the recent events have attracted a wave of novice investors eager to capitalize on the rising price. Musk’s backing and Trump’s mention of Dogecoin have created a fresh buzz around DOGE, making it one of the most closely watched tokens in the crypto market. As prices continue to fluctuate, Mishaboar urges new investors to approach DOGE with caution, sticking to fundamental investment principles.

Bitcoin and Ethereum Dominate Crypto Narrative as Prices Surge

by

  • Bitcoin and Ethereum are currently dominating the cryptocurrency narrative.
  • Social dominance and price performance are closely correlated for these top cryptocurrencies.
  • Altcoins like Solana, XRP, and Dogecoin have taken a backseat in terms of investor attention.

The crypto market continued its post-US election rally, as investors piled into traditionally riskier assets. Capturing the lion’s share of attention and investment are Bitcoin and Ethereum, the two largest cryptocurrencies by market capitalization. Data platforms like Santiment have noted a strong correlation between price and social dominance for these top cryptocurrencies.

While both Bitcoin and Ethereum have surged in value, their share of discussions on social media and other platforms has also rapidly spiked. This suggests that investor sentiment and market momentum are closely tied to the narrative surrounding these assets.

Bitcoin
Bitcoin and Ethereum Dominate Crypto Narrative as Prices Surge 6

Pricewise, Bitcoin, in particular, has soared to new heights, with its price climbing towards the $80,000 mark. The cryptocurrency’s resilience in the face of geopolitical uncertainty and regulatory challenges has solidified its position as a digital store of value.

Ethereum, the second-largest cryptocurrency, has also experienced a significant price surge, surpassing the $2,900 level for the first time in over three months. The Ethereum network’s upcoming transition to proof-of-stake, known as The Merge, has generated significant excitement and optimism among investors.

Bitcoin and Ethereum: Altcoins Take a Backseat

While Bitcoin and Ethereum have hogged the limelight, altcoins like Solana, XRP, and Dogecoin have taken a backseat. Despite recent price increases, these cryptocurrencies have not garnered the same level of attention as the top two.

Solana, XRP, and Dogecoin are all a bit under the radar as the community has shifted their sights on BTC and ETH. But prices are still performing well

As the cryptocurrency market continues to evolve, it remains to be seen whether Bitcoin and Ethereum will maintain their dominance or if altcoins will regain investor interest. However, the current trend suggests that the narrative is firmly in the hands of the two largest cryptocurrencies.

Shiba Inu Poised for Explosive Growth, Targeting $0.00081

by

  • Shiba Inu has formed a Hidden Bull Divergence pattern, a bullish indicator.
  • Bitcoin’s recent price surge is benefiting SHIB.
  • Analysts predict a potential target of $0.00081, representing a 306% increase

Shiba Inu, the popular meme coin, is on the brink of a parabolic rally. Market analysts predict a potential upside of $0.00081, representing a staggering surge of 306% from its current price.

Following the declaration of the US election results, the cryptocurrency market went on an overdrive with Bitcoin leading the charge. Shiba Inu, which has been closely correlated with Bitcoin’s price movements, is also riding the wave of optimism emerging from this broader market uptrend.

Still fairly fresh off of a confirmed Hidden Bull Divergence and holding broken out, Shiba Inu , in the midst of a roaring Bitcoin market, can be getting ready for its next level performance towards the $0.00081 target! This target’s currently over 306% away and a push to could be of IMMINENCE!

Shiba Inu
Shiba Inu Poised for Explosive Growth, Targeting $0.00081 8

Delving into the technical metrics, SHIB has formed a Hidden Bull Divergence pattern, a bullish indicator that often precedes a significant price increase. Additionally, the cryptocurrency recently broke out of a consolidation phase, bolstering the bullish case.

Shiba Inu Post Election

Having said that, the token has entered the bullish phase further driven by external factors. Experts believe that the next week to 10 days will be crucial as to whether SHIB can sustain this trend or not. The recent US elections have reduced political uncertainty, prompting investors to embrace riskier assets like cryptocurrencies. This shift away from risk aversion benefits the asset in question.

The broader crypto market is gradually recovering, which bodes well for SHIB’s long-term prospects. Short-term gains could further accelerate this positive trend. Overall, investors and traders are closely monitoring SHIB’s price action, as it could be on the verge of a major breakout. While it’s important to remember that the cryptocurrency market is highly volatile, the current bullish sentiment surrounding SHIB is undeniable.

DOGE Surges Over 110%, Eyeing $0.22 and Beyond

by

  • DOGE has surged over 110%, briefly touching $0.22, fueled by Elon Musk’s support and broader market trends.
  • Elon Musk’s recent political activity has further drawn attention to the meme coin, potentially driving speculative buying.
  • While the bullish trend is strong, investors should exercise caution due to market volatility and the speculative nature of cryptocurrency investments.

Leading meme coin Dogecoin has surged by a whopping 110%, briefly touching the $0.22 mark. Though it has dipped slightly, the bullish trend of the meme coin remains strong, with analysts projecting further gains.

The recent rally in DOGE can be attributed to several factors, including Elon Musk’s continued support for the meme coin and its growing popularity among retail investors. The tech billionaire made waves after he campaigned alongside Trump in the presidential election. His visibility drew more attention to his public stances and interests, including DOGE, which he’s publicly supported before.

DOGE
DOGE Surges Over 110%, Eyeing $0.22 and Beyond 10

This heightened attention could have driven speculative buying of DOGE, especially considering Musk had an impact on the token’s price just with his tweets. Additionally, the broader cryptocurrency market has been experiencing a resurgence in recent weeks, further fueling the asset’s upward trajectory.

If Dogecoin manages to break above the $0.22 resistance level, it could pave the way for a more significant rally toward the $0.60s. This would represent a massive upside potential for investors who have been holding the coin for an extended period.

DOGE’s Volatile Ride: Balancing Hype and Risk

However, it is important to note that the cryptocurrency market is highly volatile, and prices can fluctuate rapidly. Also, speculation is often based on hype and perceived influence rather than intrinsic cryptocurrency value. Any direct correlation would likely be temporary and sentiment-driven.

Hence investors must exercise caution and conduct thorough research before making any investment decisions. While the recent surge in DOGE has generated excitement among the crypto community, it is crucial to approach the situation with a level head. While the potential for further gains is certainly there, it is equally important to be prepared for potential setbacks.

As always, it is advisable to diversify one’s portfolio and invest only what one can afford to lose.

Bitcoin Crosses Key $70K Mark; Meme Coins Soar Amid Election Hype

by

  • Bitcoin climbs above $70k, and altcoins like Dogecoin (DOGE) jump as investors navigate election uncertainty.
  • DOGE, SHIB, and others see double-digit gains in 24 hours, fueled by speculative buying before the US election results.
  • Both crypto and traditional markets rise, suggesting investor optimism for a positive post-election scenario.

Bitcoin and altcoins surge ahead of the anticipated US election results. Bitcoin is rising above the crucial $70,000 mark, which has captured investor interest amid tense global markets. This increase sent a ripple effect across various altcoins, particularly among meme coins and AI/Big Data tokens, suggesting that traders are caught up in the election frenzy with both optimism and anxiety.

Spearheading the altcoin rally are tokens like Dogecoin (DOGE), Shiba Inu (SHIB), Fetch.ai (FET), BONK, and Pop Network (POP), which have made significant strides over the past 24 hours. Data from leading crypto platform Santiment showed that DOGE has risen by 13%, SHIB by 9%, and FET by 11%, reflecting an increased preference for speculative assets. Other well-known tokens like BONK and POP have also seen double-digit gains. The surge in these asset classes is in anticipation of market shifts tied to the election outcome.

Bitcoin
Bitcoin Crosses Key $70K Mark; Meme Coins Soar Amid Election Hype 12

Besides prices, the social sentiment surrounding cryptocurrencies, especially meme-based tokens, has risen as well. Out of all, DOGE, SHIB, ELON, MAGA, and DJT are the most discussed tokens on social platforms, with meme-themed tokens gaining significant traction.

Bitcoin: Can Meme Coins Ride the Election Wave to the Top?

All these indicate that investors are keen to speculate on these coins as potential winners in the high-volatility environment leading up to the election results. DOGE, in particular, remains a top-trending topic, attracting both seasoned and new investors looking for potential short-term gains.

In traditional markets, the S&P 500 has also posted notable gains, signaling investor optimism that may continue into November. Analysts suggest that a favorable post-election outlook could drive further growth across equities and cryptocurrencies, as sentiment remains strong. The spike in both stock and crypto markets suggests that investors are preparing for an extended rally, relying on favorable election outcomes.

As the election results unfold, market watchers will be observing key assets like Bitcoin and trending meme coins. The cryptocurrency market could experience further fluctuations, making this a pivotal moment for digital assets amid the broader financial landscape.

Shiba Inu Breaks Out of Falling Wedge, Bullish Trend Confirmed

by

  • Shiba Inu has broken out of a falling wedge pattern, signaling a potential bullish trend.
  • The RSI on the daily chart has moved into oversold territory and is now showing signs of recovery.
  • Binance recently burned over 5 billion SHIB tokens, reducing the token’s supply and potentially boosting its price.

DOGE killer, Shiba Inu, has shown remarkable strength as it breaks out of a falling wedge pattern and confirms a bullish trend on the daily chart. As per the latest technical analysis, the falling wedge is a crucial pattern that indicates a potential reversal of a downtrend.

However, when the price breaks out of the wedge’s upper boundary, it often signals a bullish continuation of the trend. Confirming the bullish thesis is that the RSI (Relative Strength Index) as seen on the daily chart, has moved into oversold territory and is now showing signs of recovery.

Shiba Inu
Shiba Inu Breaks Out of Falling Wedge, Bullish Trend Confirmed 14

With the recent breakout, the popular meme coin is poised to continue its upward momentum toward its overall target of $0.000081. Notably, the initial stages of this next leg up may have already begun, driven by the falling wedge breakout.

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

While SHIB has shown promising signs, it’s crucial to monitor market trends and consider potential risks associated with investing in cryptocurrencies.

Shiba Inu Gets a Burn Boost from Binance

Meanwhile, the Shiba Inu community is excited as Binance recently burned millions of SHIB tokens. Data from Shibburn shows that the exchange transferred over 5 billion SHIB tokens to a dead wallet, effectively removing them from circulation.

This latest burn act is seen in a positive light by community members who have been eagerly anticipating such moves to reduce the token’s supply and potentially boost its price. Shiba Inu holders urged other crypto exchanges to follow Binance’s lead and implement similar burn mechanisms.

For a long time, the Shiba Inu community has been calling on centralized exchanges (CEXs) like Binance to contribute to SHIB burns. Binance’s involvement highlights the exchange’s commitment to supporting the SHIB community’s goals. As documented on Etherscan, the burn rate underscores a growing trend where major SHIB holders, especially CEXs, are taking the initiative to reduce the supply of tokens and contribute to price stability.

Tether Quashes Blockchain Rumors, Focuses on Network Integrations

by

Tether, the issuer of the world’s dominant stablecoin, has dismissed rumors of launching its native blockchain. CEO Paolo Ardoino clarified that the firm intends to continue its strategy of integrating USDT onto various networks to support decentralized use cases.

The top exec also stated that this approach aligns with Tether’s motto, “Unstoppable TogETHER,” emphasizing collaboration with other projects instead of building a centralized solution. Market observers believe that the decision to avoid launching a proprietary blockchain is likely influenced by the company’s desire to maintain a neutral stance and avoid regulatory scrutiny.

Tether
Tether Quashes Blockchain Rumors, Focuses on Network Integrations 16

USDT, currently valued at over $118 billion, holds a significant market share of around 75% in the stablecoin market. Its integration with various networks, including the recent launch of The Open Network (TON), has further cemented its position as a crucial bridge between traditional finance and the crypto ecosystem.

However, Tether’s rising popularity and rapid growth have also invited regulatory attention. The company has faced investigations related to money laundering and sanctions violations, raising concerns about its transparency and reserve backing. These issues have led to market volatility, as seen in the brief dip below the dollar peg when news of the investigations surfaced.

Tether Profited $2.5B In Q3

Amidst these developments, the firm released its Q3 2024 assurance opinion conducted by BDO. The report highlighted  Tether’s financial robustness, showcasing all-time high (ATH) figures in net profit, group equity, and total assets.

It amassed a net profit of $2.5 billion for the quarter, taking the consolidated profit for nine months to US$7.7 billion and further lifting the Group Equity to US$14.2 billion. These figures underpin the company’s stablecoin market dominance, signaling strategic reinvestments with an emphasis on financial transparency.

While the demand for a more transparent and decentralized stablecoin ecosystem grows, Tether remains committed to its current strategy. As the crypto industry continues to evolve, it will be interesting to see how Tether adapts to changing market dynamics and regulatory pressures.

Dogecoin Poised for Expansion Phase: Is $1 Next?

by

  • Dogecoin has broken out of a long-term consolidation phase, signaling potential for significant price growth as it enters an expansion phase.
  • Large Dogecoin holders have been actively accumulating the coin, indicating strong investor confidence and potential for future price appreciation.
  • Technical analysis suggests that Dogecoin may follow a historical price pattern, potentially leading to a substantial bull run.

Dogecoin, the meme coin with a dedicated fan base, has defied expectations and shown resilience in the face of a broader market correction. Latest technical insights reveal that the cryptocurrency has broken out of a 658-day consolidation phase and is now on the brink of entering an expansion phase.

The breakout from the consolidation range has ignited optimism among DOGE investors, who are anticipating a potential surge in the coin’s price. The expansion phase, marked by increased volatility and price swings, could pave the way for significant gains.

Dogecoin
Dogecoin Poised for Expansion Phase: Is $1 Next? 18

While the exact trajectory of DOGE’s price remains uncertain, technical analysts are cautiously optimistic about the possibility of the coin reaching the $1 mark during this bull run. This would represent a substantial increase from its current price and mark a significant milestone for DOGE.

Over the past month, the OG meme coin has cemented its place in the cryptocurrency landscape by gaining 17%. Amidst ongoing volatility, Dogecoin’s market capitalization has also increased to above $21.5 billion, ranking it the eighth-largest crypto. The recent gains come amidst a surge in whale activity.

Dogecoin Whales Accumulate, Fueling Price Surge Expectations

Data from IntoTheBlock showed that large Dogecoin addresses known popularly as whales accumulated over 2.10 billion DOGE tokens last week, marking the highest level of accumulation by these large addresses since January. An uptick in whale interest is usually bullish for the price as it shows positive sentiment towards Dogecoin. Renowned market analyst Ali_Charts, suggests the meme coin might follow past price action that could position it for a strong bull run.

However, it is important to note that the cryptocurrency market is highly volatile, and prices can fluctuate rapidly. Investors should exercise caution and conduct thorough research before making any investment decisions.  

That said, the recent breakout of DOGE from its consolidation range is a positive development that has caught the attention of market observers. As the coin enters the expansion phase, it will be interesting to see how it performs in the coming months.