Cardano (ADA) Faces Decline Risks Amid Bearish Market Trends
The cryptocurrency market continues to experience fluctuations, with some assets recovering while others face bearish pressure, as highlighted by CoinMarketCap data. Despite gains observed in certain cryptocurrencies, Cardano (ADA) has encountered difficulties in sustaining upward momentum. Support Concerns and Decline Warnings The potential for further losses which warns of a likely decline if the $0.8931 level is breached. Amid these market fluctuations, Cardano faces significant challenges, with analysts highlighting the risks of a breakdown in key support levels. Market Dynamics: Cardano Struggles to Maintain Position Recent market behavior shows a mixed performance across the cryptocurrency landscape. Cardano has seen its value decrease by 1% in the last 24 hours, signaling potential obstacles ahead. Related Article: Cardano (ADA) Exclusion Sparks Criticism from Hoskinson on Blockchain Bias Currently priced around $0.8961, ADA remains near local support levels, indicating a lack of bullish momentum following yesterday’s recovery attempts. Long-Term Projections for Cardano’s Price Movement Over a longer time frame, ADA’s inability to sustain recent gains may enable sellers to regain control. Related Article:Cardano Breaks Resistance Levels, Fueled by Whale Interest If this occurs, analysts foresee a potential decline toward the $0.85 level or lower. https://x.com/acinemaboy/status/1853516056528036321?t=NN_MYrtlrnQkyfraeKAeXg&s=19 A weekly close at current levels or below could result in further tests of the $0.8173 support level, reinforcing the bearish perspective.
XRP Breakout Expected Above $20, Analyst Predicts
The digital asset XRP has remained central to cryptocurrency discussions, with recent performance suggesting the potential for a major breakout. An analysis has been shared by Amonyx (@amonbuy), a prominent analyst on X, highlighting XRP’s unique historical behavior and its potential for substantial gains compared to Bitcoin in the current market cycle. XRP’s Historical Parity With Bitcoin Charts presented by Amonyx reveal that XRP has consistently kept pace with Bitcoin, often surpassing it during key phases of price cycles. The analysis highlights a distinct pattern in XRP’s movements. While Bitcoin experiences steady growth phases, XRP consolidates before undergoing significant upward trends that match or exceed Bitcoin’s gains. This pattern has been further underscored by observations from another analyst, who noted that 1 BTC purchases approximately the same amount of XRP today as it did in 2014. This consistency emphasizes XRP’s ability to maintain parity with Bitcoin, even as the broader cryptocurrency market evolves. Recent Performance of XRP Recent trends align with XRP’s historical behavior. For the first time since 2018, XRP has surpassed $2, reaching a high of $2.86. This recovery has renewed optimism among investors. During the same period, Bitcoin has achieved an all-time high of $108,268.45 after crossing the $100,000 milestone. Related Article: XRP Soars by 13% Following Ripple’s Stablecoin Announcement Bitcoin’s climb began earlier in the year, with new highs being reached in March and subsequent breaches of those levels until the $100,000 mark was crossed. XRP, however, lagged in momentum until a dramatic price surge occurred in November. Predictions for XRP’s Next Move XRP’s performance in the current cycle has silenced critics and positioned it as one of the best-performing assets, outpacing Bitcoin according to Amonyx’s analysis. At present, XRP is trading at $2.17, and Amonyx predicts that the ongoing rally could push it beyond $20. These developments coincide with increasing attention on XRP’s utility and potential to challenge Bitcoin’s dominance. Some analysts have suggested that XRP may rival or even exceed Bitcoin’s market capitalization in this cycle. Ben “Bitboy” Armstrong has pointed out how XRP could surpass Ethereum to become the second-largest cryptocurrency. Reaching $20, as forecasted by Amonyx, would support this achievement. Related Article: Ripple CTO Sparks XRP Price Surge Debate with Cryptic Tweet Surpassing Bitcoin to become the market leader would represent an unprecedented milestone for XRP.
Dogecoin to Reach $4: Analyst Predicts End of Correction and Breakout Timeline
A timeline for Dogecoin’s breakout has been provided by a market analyst, who based the forecast on historical trends. Significant declines have been triggered for the meme coin as part of its ongoing pullback. Historically, Dogecoin rallied following the U.S. presidential election held on Nov. 5. Excitement in the crypto community was sparked when pro-crypto candidate Donald Trump won the election. By Dec. 8, Dogecoin’s value rose to $0.48. However, as the broader market corrected, DOGE’s price dropped 36% within two weeks. Despite this downturn, the correction is seen by analysts as part of a healthy market cycle. Predictions of a strong rebound have been made. Javier Santini, a market analyst and founder of Elemento Cripto, identified patterns in Dogecoin’s historical data and anticipates an imminent rally. DOGE’s Historical Pullback Patterns Santini’s analysis reveals that Dogecoin’s price corrections below the previous cycle’s all-time high often persist for about a month before an upward trend resumes. Weekly charts shared by Santini highlight a consistent pattern since 2017. In January 2014, Dogecoin reached an all-time high of $0.00232, followed by a correction phase that lasted until March 2017. During this time, prices fell as low as $0.00022. A breakout occurred in March 2017, leading to a month-long pullback before a new all-time high of $0.0187 was achieved in January 2018. Subsequently, another extended correction took place, forming a descending trendline. This trendline broke in December 2020, initiating another rally. A month-long pullback was again observed before Dogecoin surged to its latest all-time high of $0.7390 in May 2021. Predictions for Dogecoin’s Target of $4 The current market trend suggests that a similar cycle is repeating. A breakout from the latest descending trendline in Q4 2024 resulted in a 161% rally during November. December’s correction is expected by Santini to last approximately one month. The uptrend is predicted to resume in the coming week, with a price target of $4 set by the analyst. This target is expected to be reached in under a week. Could DOGE Rally to $18 After a 46% Drop? Historical Trends Suggest It Might For Dogecoin to achieve this milestone, a surge of 1,168% from its current trading price of $0.3253 would be necessary. Santini’s confidence stems from Dogecoin’s historical consistency, where each breakout phase has led to new highs. Related Article: Dogecoin Faces Resistance Amid Consolidation, Showing Minor 1.06% Decrease: 24-Hour Price Analysis Santini’s prediction aligns with that of another analyst, @Degengambleh, who projects Dogecoin reaching $4.20. The 1,000-day accumulation trend highlighted in the analysis is viewed as a foundation for this major rally. Related Article:Could DOGE Rally to $18 After a 46% Drop? Historical Trends Suggest It Might This trend was noted when Dogecoin traded at $0.1713 in March 2024.
Could DOGE Rally to $18 After a 46% Drop? Historical Trends Suggest It Might
An analysis of Dogecoin’s (DOGE) price history indicates the possibility of a rally to $18, despite a recent 46% correction. Historical patterns from previous market cycles in 2017 and 2021 have been highlighted to support this claim. DOGE’s Resilience Amid Market Volatility Dogecoin has experienced significant gains in 2024, buoyed by favorable market sentiment. Despite broader market volatility triggered by comments from Federal Reserve Chair Jerome Powell, DOGE has maintained an upward trajectory. Although the recent rally has slowed, historical trends suggest the potential for another parabolic run. The Roadmap to $18: A Historical Perspective Prominent crypto analyst Ali Martinez has emphasized the possibility of a DOGE rally based on past market behaviors. In a recent analysis shared on December 23, Martinez pointed out that Dogecoin has historically posted massive gains after initial rallies followed by corrections of approximately 50%. In 2017, a 212% gain was followed by a 40% correction, leading to a 5,000% rally that peaked at $0.01857. Similarly, in 2021, a 476% gain was succeeded by a 56% correction and an astounding 12,000% surge to DOGE’s all-time high of $0.74. Martinez noted that DOGE’s recent correction from $0.48434 to $0.26216, representing a 46% decline, aligns with this pattern. With over 400% year-to-date (YTD) gains in 2024, the analyst suggested that another parabolic rally could follow, targeting $18. This price point reflects a 5,600% increase from DOGE’s current price of $0.31355. Key Catalysts for a DOGE Rally Historical rallies for DOGE have often been driven by significant market catalysts. For this rally, potential factors could include support from long-time DOGE advocate Elon Musk and his involvement in the Donald Trump-established Department of Government Efficiency (playfully referred to as D.O.G.E by Musk). Related Article: Dogecoin Faces Resistance Amid Consolidation, Showing Minor 1.06% Decrease: 24-Hour Price Analysis Additionally, the pro-crypto stance of the Trump administration and the ongoing global trend of quantitative easing are anticipated to create favorable conditions for DOGE’s price growth.
Why XRP May Never Achieve a $1,200 Price Target: Analyst Predicts
Speculation about XRP reaching $1,200 has sparked debates among crypto enthusiasts, but a major limitation could prevent such a rally. A detailed analysis by crypto commentators highlights why replicating Bitcoin’s meteoric rise between 2011 and 2013 may not be feasible for XRP. XRP’s Recent Price Surge Fuels Optimism XRP has experienced a remarkable upward trend since the U.S. elections in November 2024, which saw pro-crypto candidate Donald Trump secure victory. At the time of the elections, XRP traded at $0.5035. Since then, its price has surged 336% to $2.21, outperforming many top-tier cryptocurrencies. This price movement has reignited optimism among investors, with some forecasting ambitious future price targets ranging from $27 to $100. A recent commentary by market analyst Steph even proposed the possibility of XRP reaching $1,200, drawing comparisons to Bitcoin’s historic rally from late 2011 to 2013. Bitcoin’s Historical Performance as a Benchmark Steph referenced Bitcoin’s dramatic price increase during its early years as a potential blueprint for XRP. Bitcoin, which traded at $2 in November 2011, climbed to $16 by August 2012, marking a 700% gain. Despite a brief correction, it surged further to $259 in April 2013, representing a 12,850% gain. By November 2013, Bitcoin reached $1,200, achieving an overall increase of nearly 59,900% within two years. Steph pointed out that XRP has demonstrated substantial growth in the past, particularly during the 2017/2018 bull run, when it surged from $0.005 to $3.31. Supply Constraints Pose a Major Challenge However, Nathan Goldstein, a real estate investor and Bitcoin advocate, responded by outlining key differences between XRP and Bitcoin. He emphasized that XRP’s significantly larger supply is a critical limitation. XRP has a maximum supply of 100 billion tokens, with 57.25 billion currently in circulation. If XRP were to reach $1,200 per token, its fully diluted market capitalization would skyrocket to $120 trillion. Market Cap and Global Money Supply Comparison Goldstein highlighted that XRP’s potential market cap at $1,200 per token would exceed the global M2 money supply, which was approximately $104 trillion as of Q2 2024. This would make XRP’s fully diluted market cap 15% larger than all the money circulating in the world. Even if only the circulating supply is considered, XRP’s market cap at $1,200 would total $68.7 trillion, equivalent to 66% of the global money supply. By contrast, Bitcoin’s market cap at its $1,200 peak in 2013 was just $14.4 billion, a fraction of global currency at the time. Limitations Preventing $1,200 for XRP While XRP’s potential for growth remains significant, achieving a $1,200 price appears implausible under current conditions. Factors such as its large supply and the constraints of global money supply present significant challenges. Related Article: XRP Price Could Surge if SBI Allocates 20% of Assets to XRP Reserves, Says ChatGPT Although historical comparisons to Bitcoin’s early rally are intriguing, the unique circumstances surrounding XRP must be acknowledged, making such a monumental price target unlikely in the foreseeable future.
XRP Price Could Surge if SBI Allocates 20% of Assets to XRP Reserves, Says ChatGPT
Excitement has been generated in the XRP community following a bold proposal advocating for a substantial XRP buyback by SBI Holdings. The proposal, introduced by GAM Investments, suggests that SBI should allocate part of its assets to establish an XRP reserve. According to projections by AI tool ChatGPT, such a move could drive XRP prices into double digits, potentially reaching $15 in the most favorable scenario. GAM Investments Highlights Untapped Ripple Opportunities The proposal from GAM Investments raises concerns about the undervaluation of SBI’s Ripple-related assets. GAM, a stakeholder in SBI Holdings, criticized the company for not fully capitalizing on its Ripple and XRP investments to maximize shareholder value. It was observed by GAM that SBI’s unclear crypto strategy and inadequate investor communication have hindered the full potential of its Ripple holdings. SBI’s 8–9% ownership stake in Ripple, combined with its indirect control over a significant portion of XRP, was noted to represent a largely untapped opportunity. GAM even suggested that this stake could exceed SBI’s current market capitalization. To address these concerns, GAM proposed establishing an XRP reserve. It was argued by GAM that this approach could offer more substantial returns to shareholders than traditional methods like cash dividends. ChatGPT Predicts XRP Price Scenarios ChatGPT was used to evaluate the potential impact of an XRP reserve on the cryptocurrency’s price. The analysis considered scenarios where SBI allocates 5%, 10%, or 20% of its assets to XRP reserves. SBI’s total assets, valued at ¥27.2 trillion ($175.1 billion) as of March 2024, served as the basis for the projections. With XRP’s circulating supply of approximately 57.45 billion tokens and an average price of $2.35 per token, various outcomes were modeled. Challenges to Implementation and Market Uncertainty The proposal’s adoption by SBI remains uncertain and would depend on GAM’s ability to influence other stakeholders and convince SBI’s leadership. XRP community member WrathofKahneman noted that GAM’s stake in SBI could play a critical role in persuading other investors. However, even if the strategy is implemented, the price predictions provided by ChatGPT are not guaranteed. Factors such as market conditions, liquidity constraints, and seller resistance could significantly affect the outcomes. Related Articles: Why XRP Price Is Dropping Amid Broader Market Selloff While the prospect of a strategic XRP reserve has captured the attention of the XRP community, its potential impact on the market remains speculative.
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.
