DOGE Leader’s X Account Hacked: Scammers Spread Fake Partnership Announcement
A recent hacking incident has led to the dissemination of false information about a partnership involving the Department of Government Efficiency (DOGE). The hacked X account of one of DOGE’s leaders was used to post a fabricated announcement, which has since been deleted by the team. Scammers Exploit Hacked Account to Promote Fake Collaboration The X account of DOGE’s second head, Vivek Ramaswamy, was hacked, and a fraudulent post was made. This post falsely claimed that DOGE was partnering with $USUAL, a stablecoin issuer with a market capitalization of $688.94 million. The post further mentioned that the collaboration aimed to enhance governmental transaction capabilities while promoting fiscal responsibility. The partnership was described as a step toward leveraging virtual currencies for economic stability, growth, and financial inclusion. However, these claims were later debunked after the hack was discovered. Quick Response to the Hacking Incident The team at DOGE acted swiftly to address the issue. The fraudulent post was deleted, and efforts were made to secure the account. Fishback, the founder of Invest Azoria, confirmed that the claims of collaboration were entirely untrue. He stated that the hackers were attempting to propagate a scam. Fishback revealed that he had spoken with Ramaswamy, who confirmed that he had been locked out of his account during the incident. No Cryptocurrency Plans Confirmed by DOGE Despite the fraudulent post, DOGE has not announced any official plans to incorporate cryptocurrency into its operations. The department, led by Ramaswamy and Elon Musk, remains focused on its primary objectives. These include simplifying federal oversight, reducing excessive regulations, and reconstructing federal agencies. In a statement made in November, President-elect Donald Trump emphasized that DOGE’s leadership is tasked with eliminating bureaucratic inefficiencies and cutting wasteful expenditures. As of now, the department has not confirmed any collaborations or projects involving cryptocurrencies. The hackers falsely claimed that the partnership between DOGE and $USUAL would support the fiscal goals of the Donald Trump administration. The post also suggested that the collaboration would help reduce the federal deficit and enhance financial transaction efficiency. These claims have been officially denied, with the incident being attributed to the hacking of Ramaswamy’s account. Related Article: Shiba Inu Burns 131.2 Million Tokens, But What’s the Real Impact? The false information has been removed, and DOGE has reiterated its commitment to transparency and efficiency in its operations.
Massive Transfer of 400 Billion SHIB from Early Whale Shocks Major US Exchange
Recent reports from analytics platform @Spotonchain revealed that two huge Shiba Inu (SHIB) transactions were carried out earlier today. This comes as the price of SHIB, the second-largest meme cryptocurrency by market capitalization, has seen a 10% decline. The drop in SHIB’s price follows a recent bearish trend in Bitcoin caused by statements from the Federal Reserve and the resulting disappointment among cryptocurrency holders. 400 Billion SHIB Moved to Gemini by Early Whale On-chain data indicates that a significant SHIB holder, who has made a considerable profit on their SHIB investment, moved 399.99 billion SHIB to the US-based exchange Gemini. This large sum of SHIB would be worth just under $10 million if liquidated. The whale originally acquired the massive amount of SHIB on August 7, 2020, purchasing 15.2 trillion SHIB for only 10 ETH. Related Article: Shiba Inu Whale Sells 250 Billion SHIB Worth $6.05 Million Currently, this early investor holds 2 trillion SHIB, valued at approximately $48.54 million. This results in a total profit of around $107.7 million, reflecting a 3.7x return on the original SHIB investment four years ago. Whales Liquidating SHIB as Price Declines Further analysis shows that SHIB whales have been moving large portions, if not all, of their SHIB holdings to exchanges as the price of SHIB has dipped. The coin’s price fell by about 10% in the last 24 hours, dropping from $0.00002618 to $0.00002345. However, a slight recovery has been observed, with SHIB gaining 2.64% in value. Over the last ten days, SHIB has experienced a loss of over 21%, plummeting from $0.00003076 to its current value of $0.00002409. Additional sources also point to the movement of SHIB to exchanges by whales, which has likely contributed to the recent price decrease. This decline in SHIB’s value reflects broader market trends, especially following Bitcoin’s decline of about 5%, briefly dipping below $100,000. The cryptocurrency market faced significant downturns after the Federal Reserve’s decision to lower interest rates by 25 basis points instead of the anticipated 100 basis points in 2025. Despite this, Bitcoin has partially recovered, now trading above $101,000 and nearing the $102,000 mark.
Why XRP Price Is Dropping Amid Broader Market Selloff
On December 18, 2024, a 25 basis point (bps) reduction in interest rates was announced by the Federal Reserve, a decision that had been widely anticipated based on prior signals from policymakers. Despite aligning with market expectations, the announcement triggered a significant selloff across equities and cryptocurrency markets, including Bitcoin, Ethereum, and XRP. Concerns about the broader implications of the rate cut were highlighted by the market’s negative reaction. Market Reacts to the Federal Reserve Rate Cut The announcement was shared by financial news platform Zero Hedge on X, stating, “FED CUTS 25BPS AS EXPECTED.” In response, a query by user JP Friend 1 asked, “Why is market dumping on that news?” This reflects the confusion among both retail and institutional investors, as rate cuts are traditionally perceived as positive for financial markets. Related Article: Analysts Identify Bullish Potential for Shiba Inu (SHIB) to Surge to $0.000070 Another explanation was offered by user Bleeerg, who noted, “There is a theory that cutting rates after a period of raises means that there are issues with the economy and it marks the start of a recession.” Aron Meystedt contributed historical context, stating, “If you look at past charts over time for the major indices and overlay them with the fed funds rate, the stock drop (recession) happens AFTER the rates are dropped. It’s counterintuitive, but that’s the way it usually goes.” Historical Patterns and Economic Concerns The reactions discussed align with historical trends. During previous economic cycles, rate cuts implemented after a prolonged tightening phase have frequently indicated underlying economic weaknesses. While rate reductions are designed to stimulate growth, they often signal that the economy is facing or nearing a contraction. This creates a paradox: although borrowing costs are reduced to encourage investment, the move can suggest that monetary authorities are preparing for an economic slowdown. Investors often respond by selling riskier assets, anticipating weaker earnings, lower consumer spending, and tighter credit conditions. Impact on Cryptocurrency Markets The selloff has extended beyond equities. Major cryptocurrencies have also experienced sharp declines, with XRP down 5.97% in the past 24 hours, currently trading at $2.32. Similarly, Bitcoin, the largest cryptocurrency by market capitalization, has fallen over 5% during the same period and is now trading at $100,700.
Analysts Identify Bullish Potential for Shiba Inu (SHIB) to Surge to $0.000070
Despite recent underwhelming price movements, analysts are highlighting Shiba Inu (SHIB) as having the potential for a significant price surge. Indicators are pointing toward the development of a bullish trend, suggesting positive momentum ahead. SHIB is currently priced at $0.00002574, reflecting a 5% decline over the past week and a modest 1.1% gain for the month. Market analyst Klejdi Cuni has drawn attention to a bullish pattern on SHIB’s TradingView chart. While SHIB has trailed other meme coins and altcoins during recent market rallies, Cuni believes the token could soon compensate for lost ground. Encouraging Trends in SHIB’s Daily Chart Cuni has observed promising signs on SHIB’s daily chart, noting that the price has been upward since a trend reversal in September. The chart shows higher highs, forming an oval pattern Cuni describes as indicative of bullish momentum. A strong support level at $0.00002424 has been identified, holding steady for over a month. Cuni suggests this stability indicates significant accumulation, which could set the stage for a breakout in the coming months. Key Price Targets Highlighted by Analysts If a breakout occurs, Cuni has outlined several key price levels for SHIB. The first target is $0.00003232, marking a 25.6% increase from the current price. The $0.00004 region, which was lost ten months ago, is considered another critical level, with a move to $0.00004167 representing a 61.6% rise. Related Article: XRP Price at a Crossroads: Can It Reclaim Bullish Momentum? The next target of $0.00005675 could yield a potential gain of 120.4%, a level last seen in 2021. Looking further ahead, Cuni’s most optimistic scenario projects SHIB reaching $0.00007012 by mid-2025. Achieving this would represent a 172.5% increase and bring the token close to its all-time high. Other Analysts Weigh In on SHIB’s Prospects Other analysts have echoed bullish sentiments about SHIB’s future. Sherif, another market expert, has expressed confidence that SHIB will surpass its all-time high of $0.00008654 during this market cycle despite its recent stagnation. Similarly, analyst CryptoELITES has predicted that SHIB could rise to $0.0004729, effectively cancelling another zero. This prediction, which equates to an 18X return for current holders, is based on a bullish cup-and-handle pattern observed on SHIB’s weekly chart. However, caution has been advised by one analyst, who warned of a potential drop to $0.000011 if the anticipated breakout fails to materialize. While multiple bullish signals have been identified, analysts emphasize the need for careful observation as SHIB’s market conditions evolve.
Dogecoin’s Next Rally? Analysts Predict Uptrend Resumption
It is believed that Dogecoin (DOGE) is poised to resume its uptrend after undergoing a prolonged consolidation phase. Following Donald Trump’s election victory, the leading meme cryptocurrency experienced a surge of 220%, climbing from $0.15139 to $0.48434. This increase was fueled by speculation that the incoming administration might favor cryptocurrency. However, the rally has recently stalled, with DOGE surrendering some gains to trade at approximately $0.38429. Analysts now suggest that the asset is primed for another upward movement. Dogecoin (DOGE) Ready for Uptrend Resumption? Crypto trader Olivier Đ X has indicated that Dogecoin’s price is preparing to reverse its trend upward. This observation was shared in an X post on Tuesday, December 17. The analysis highlights a breakout from a descending channel on DOGE’s 4-hour candle chart, with the meme coin expected to resume its uptrend after surpassing resistance near the $0.4140 mark. This breakout pattern may evolve into an ascending triangle, further supporting bullish momentum. Related Article: Why XRP Holders Are Predicted to Be Among the Wealthiest: Key Analysis Olivier Đ X’s views are echoed by other analysts, including The Cryptomist, who pointed out that DOGE is forming an ascending triangle pattern on its daily candle chart. This pattern is often associated with significant upward price movements. While specific price targets were not disclosed, Javon Marks has proposed that DOGE could surpass its all-time high of $0.73, with long-term projections reaching as high as $3. Shifting Sentiment Around Dogecoin (DOGE) Recent data indicates that investor sentiment toward DOGE has turned negative. According to metrics shared by Ali Martinez via Santiment Feed, DOGE’s weighted sentiment dropped sharply from nearly five on Santiment’s scale in mid-November 2024 to -0.6. Additionally, social mentions of the asset have plummeted, falling from over 3,200 to fewer than 300. Historically, overwhelming negative sentiment has been interpreted as a contrarian indicator by Santiment Feed, suggesting that DOGE’s downturn could signal the potential for a strong rebound. As analysts continue to observe the evolving patterns on Dogecoin’s charts, a clearer picture of its trajectory is expected to emerge in the coming weeks.
Why XRP Holders Are Predicted to Be Among the Wealthiest: Key Analysis
XRP investors are being forecasted to achieve significant wealth as the cryptocurrency is expected to surpass its all-time high soon. This prediction has been shared by a prominent market analyst who suggests that current trends indicate an explosive rally for XRP holders. XRP’s Recent Surge Attracts Attention XRP’s performance in November captured significant interest. A remarkable climb was observed as the price increased from $0.51 at the start of November to a peak of $2.90 by December 3, marking a 464% rise within just one month. Following this surge, XRP experienced a pullback while attempting to breach the $3 mark. It has since consolidated between $2 and $2.60 over the past two weeks. Despite this, analysts, including Steph, have maintained that a larger breakout is likely, which could position XRP holders among the wealthiest investors. Bollinger Bands Indicate Imminent Breakout Steph’s analysis highlights critical indicators, with a focus on the Bollinger Bands on the 4-hour chart. These bands, which measure market volatility, are currently expanding—a signal often associated with major price movements. Historical data reinforces this observation. During similar Bollinger Band expansions in November, XRP rallied by 132% from its swing low to its swing high. Additional notable movements of 53% and 120% were also recorded during similar conditions. Based on this, it is suggested that the current expansion signals another significant rally for XRP. Bullish Flag Pattern Confirmed for XRP A bullish flag breakout has already been confirmed on XRP’s daily chart. This pattern typically indicates the continuation of upward momentum following a consolidation period. The breakout has been validated by multiple daily closes above a long-term resistance line. Currently, XRP is holding above the critical support level of $2.33. While failure to maintain this level could invalidate the bullish outlook, the trend remains favorable as long as the price stays above this threshold. Steph has identified $2.60 as a pivotal resistance level. A daily close above this point is expected to confirm the breakout further. The analyst’s target for the upcoming uptrend lies between $4.90 and $5 in the short to mid-term. Related Article: $4.20 XRP Target Gains Credibility Amid Historic Price Breakout Support for this outlook is also provided by the Exponential Moving Average (EMA) ribbons on the daily chart. XRP’s recent retest of these ribbons on December 10 resulted in a strong rebound, further suggesting that the upward trend remains intact. Bitcoin Dominance and Its Impact on Altcoins Bitcoin dominance, a metric that measures Bitcoin’s share of the cryptocurrency market, has also been highlighted by Steph as a key factor influencing altcoins like XRP. On the weekly chart, Bitcoin dominance has been in decline since it fell below a rising wedge pattern. It is currently testing a breakdown level near 59%. As long as dominance stays below this threshold, conditions are considered favorable for XRP and other altcoins. A decline in Bitcoin dominance to the 47–50% range—a historically significant support zone—has been suggested as a trigger for an altcoin season. This development could push XRP closer to the $5 target. Notably, this range was tested in July and October of 2021, making it a key area to monitor. Caution Recommended Despite Optimism Steph has advised caution as Bitcoin dominance approaches the 47–50% support zone. This level is expected to act as a turning point, prompting investors to consider taking profits. However, for the time being, XRP and other altcoins are believed to be in a strong position. At present, XRP is trading at $2.50, reflecting a slight decrease of 0.12% in the last 24 hours. Investors are encouraged to remain vigilant as market dynamics unfold, with the potential for substantial gains remaining on the horizon.
$4.20 XRP Target Gains Credibility Amid Historic Price Breakout
The cryptocurrency XRP has experienced an unprecedented surge, rising by over 467% within just over a month. Currently, XRP is trading at $2.70, marking a dramatic increase that has surprised even its most optimistic supporters. However, this outcome had been predicted by U.Today well before the current rally began. In early August, U.Today highlighted the possibility of a historic price breakout for XRP. Now, in December, the cryptocurrency has fulfilled those projections, achieving levels that seemed improbable just months ago. The focus has shifted to where XRP’s price might head next and the potential levels it could reach. By revisiting the initial projections from the breakout’s early stages, it is suggested that XRP’s ultimate target could be around the $4.20 mark. While the number carries a memetic undertone, it is based on real calculations. The analysis stems from XRP’s breakout from a six-year accumulation phase within a bullish triangle pattern. A surge of approximately 630% was projected, resembling similar moves observed in 2013 and 2017, though on a smaller scale. Related Article: 5.8 Billion Dormant Dogecoin Reactivated: What Does This Mean for DOGE Price? With two-thirds of this projected move already realized and XRP’s all-time high previously recorded at $3.30, the $4.20 target is no longer considered unattainable. However, the outcome is not guaranteed. The unpredictable nature of the crypto market means that even the most well-founded predictions can be disrupted by unforeseen events. While XRP’s breakout has unfolded as expected based on its price chart, many traders remained skeptical and held onto their tokens during the lengthy eight-year accumulation period. The road ahead for XRP remains uncertain, but its recent performance has solidified its position as one of the most compelling stories in the cryptocurrency market.
5.8 Billion Dormant Dogecoin Reactivated: What Does This Mean for DOGE Price?
A massive reactivation of dormant Dogecoin (DOGE) tokens has been observed, with 5.8 billion tokens moving within the last 24 hours. This activity was highlighted by on-chain data shared by technical analyst Ali Martinez. This unusual activity has coincided with a significant increase in DOGE’s Age Consumed metric, which measures the movement of long-inactive coins. Data presented by Martinez reveals two major signals. The first is a substantial rise in the Age Consumed metric, indicating the transfer of old DOGE holdings. The second is a dramatic spike in daily circulation, reflecting heightened activity. Previously, the daily circulation of DOGE was approximately 1.67 billion tokens. However, this number spiked abruptly to 5.8 billion tokens. The sudden transfer of billions of DOGE tokens is thought to suggest whale profit-taking, portfolio adjustments, or anticipation of upcoming market changes. Historical Trends in Dogecoin Price Movement Historically, spikes in the activity of long-dormant tokens have often preceded significant price changes. For example, during the first week of November, low Age Consumed metrics were recorded alongside daily circulation of less than 1 billion tokens. In the second week of November, as Dogecoin’s price began a major bull run, the Age Consumed metric experienced a sharp increase. This coincided with over 5 billion DOGE tokens circulating daily. Related Article: Over $272 Million in XRP Shorts Could Face Liquidation at $3 When Dogecoin’s price entered a consolidation phase, these metrics reverted to lower levels. However, the current spike in activity observed yesterday could indicate the potential for another major rally. Bitcoin’s recent rise to an all-time high of $107,800, before settling at around $106,000, adds further context. Historically, altcoins and meme coins like Dogecoin have exhibited significant price swings after Bitcoin stabilizes following a series of price increases. At the time of writing, Dogecoin is trading at $0.3991, reflecting a 2% decline over the past 24 hours. The data suggests that this may be an opportunity for market participants to accumulate DOGE before a potential price surge. For context, Dogecoin experienced a 234% increase in just three weeks during November. What Could Happen to Dogecoin’s Price? Analysts have offered various predictions regarding Dogecoin’s potential price movement as bullish momentum builds. Bitcoin analyst “Crow” has forecasted a straightforward path for Dogecoin to achieve a new multi-year high. He predicts an initial rise to $0.48, followed by a minor pullback, then further gains to $0.52, and eventually a climb toward $0.66. Cantonese Cat, another analyst, has suggested that DOGE could soon break its all-time high of $0.74. This prediction is based on patterns observed during 2021. Additionally, Crypto Scofield has expressed a more optimistic view, suggesting that Dogecoin’s current bullish momentum is even stronger than in November. A price of $3 has been projected to emerge “any time soon.”
Over $272 Million in XRP Shorts Could Face Liquidation at $3
An extraordinary surge in XRP’s price is being observed, which may significantly impact the market. A 14% increase has been recorded in the past 24 hours, bringing XRP’s trading value to $2.71 and positioning it near the critical $3 resistance level. This momentum is being attributed to rising investor interest linked to Ripple’s new RLUSD token launch. If the $3 milestone is reached, it would represent XRP’s highest value since 2018 and could potentially initiate a notable short-squeeze event. According to data shared by the crypto analyst Ash Crypto (@Ashcryptoreal) on X, it has been reported that over $272 million worth of XRP short positions are exposed to liquidation risk if the price climbs to $3. A chart presented in the analysis highlights a buildup of leveraged short positions near this level, emphasizing its significance for traders. When the analysis was conducted, XRP was trading at $2.677, and its rise has continued as enthusiasm surrounding the RLUSD launch grows. The introduction of this stablecoin is expected to attract new investors into the ecosystem, possibly driving XRP beyond the $3 mark. Understanding the Concept of a Short Squeeze A short squeeze is caused when traders who have bet against an asset by shorting it are compelled to purchase it at higher prices to cover their positions. This action often results in further upward pressure on the asset’s price. In the case of XRP, the large volume of leveraged positions has created significant pressure on the market. If the price exceeds $3, the liquidation of these positions could potentially intensify the upward price movement. Related Article: XRP Soars by 13% Following Ripple’s Stablecoin Announcement The ongoing price rally is not solely driven by technical factors. The fundamentals surrounding Ripple’s RLUSD token have renewed investor confidence in XRP. This development is being viewed as a positive step for the broader Ripple ecosystem, contributing to the current bullish momentum and drawing the attention of institutional and retail investors alike. Opportunities and Risks for XRP Traders While the potential for a short squeeze could create opportunities for XRP holders, it has also introduced considerable risks for traders. Leveraged trading can be highly volatile—those on the losing side of this price movement are likely to face significant losses. Could XRP’s Short Squeeze Impact the Wider Market? The consequences of this event could extend beyond XRP, affecting the sentiment of the entire cryptocurrency market. A successful break above $3 might reignite interest in altcoins, especially those associated with Ripple’s ecosystem. As RLUSD adoption increases in the coming days, it is expected that XRP’s upward trend could accelerate, possibly bringing it closer to its all-time high of $3.84. Some experts have even suggested that XRP might surpass Ethereum during this market cycle, with a key step toward that goal being the $3 milestone.
Shiba Inu (SHIB) Ranks High on MetaMask Despite Slowing Rally
A high level of interest in Shiba Inu (SHIB) has been observed among market participants, as confirmed by its ranking on MetaMask, even though the token’s rally has entered a consolidation phase. SHIB’s MetaMask Popularity Remains Strong It has been reported by MetaMask that Shiba Inu was among the most swapped tokens on its platform last week. Despite a 15% price decline during the same period, SHIB ranked fifth in popularity among users of the Ethereum wallet. Other tokens that made it into the top five included Pepe Unchained (PEPU), Pepe (PEPE), Baby Doge (BabyDoge), and HEX (HEX), occupying first, second, third, and fourth places, respectively. This ranking has been interpreted as a sign of sustained trader interest in SHIB. Given MetaMask’s extensive user base, which exceeds 30 million active monthly users, the token’s appearance in the top rankings carries significant weight. Furthermore, SHIB has now appeared in the MetaMask rankings for three consecutive weeks, reinforcing its relevance among traders. Related Article: XRP Market Shaker: Massive Whale Movement Sparks Buzz SHIB’s Rally Stalls After Election Surge Shiba Inu’s rally, which began after the U.S. election, saw its price increase by over 98%, climbing from $0.00001687 to a high of $0.00003343. However, the upward momentum has slowed, with the token’s price consolidating around $0.00002689 at the time of writing. Last week, the price opened at $0.00003219 but declined by more than 15%, closing at $0.00002788. Despite the downturn, the sustained interest indicated by MetaMask data suggests that investors remain engaged with SHIB as a potential high-return opportunity. Potential for High Returns or Further Decline? SHIB’s recent activity has sparked speculation about its future trajectory. While the token’s 98% rally in November was impressive, it underperformed compared to Dogecoin (DOGE), which surged by 220% during the same period. This disparity has led some to believe that SHIB may hold untapped bullish potential. An analyst has suggested that SHIB is currently at a critical juncture, testing the resistance levels of a long-term downtrend. A decisive move above or below this resistance could determine whether the token experiences a 150% rally or further declines. Outlook for SHIB Amid Uncertainty While Shiba Inu’s immediate price action remains uncertain, its consistent ranking on MetaMask and active trading interest highlight its potential in the cryptocurrency market. The sustained enthusiasm among traders suggests that SHIB could either capitalize on its bullish potential or face further challenges, depending on market conditions and technical factors.
