Ripple’s XRP Hits $2.42: What’s Behind Its 7-Day Rally?
XRP has seen an impressive 12.2% price surge in the past week, reaching $2.42. The cryptocurrency’s market cap now stands at $139.1 billion, reflecting a modest 1.49% rise in the past 24 hours. Despite some fluctuations during the week, XRP closed strong, signaling bullish sentiment among investors. Price Movement Analysis Over the last seven days, XRP started at $2.15 and gradually built momentum. Midweek dips momentarily pushed prices below $2.20, yet buyers quickly regained control. On the final day of the period, XRP peaked at $2.47 before settling slightly lower at $2.42. Trading volume took a hit, dropping 46.84% to $5.85 billion, which indicates less aggressive trading despite the price increase. 7-days price chart- source: CoinMarketCap Compared to its all-time high of $3.84 from January 2018, XRP remains 36.94% lower. However, its growth since its all-time low of $0.0028 in 2014—a staggering 86,357%—continues to attract long-term investors. XRP’s Fully Diluted Valuation (FDV) reached $242.3 billion, while its circulating supply of 57.41 billion XRP nears its total supply cap of 99.98 billion XRP. Related article: Ripple’s Experiences 250% Growth With $8 Price Projection These figures reinforce its significant market position, ranking third in global cryptocurrency standings. Additionally, XRP’s 24-hour low stood at $2.37, while the high hit $2.47, a narrow range highlighting reduced volatility in the short term. The Vol/Market Cap ratio of 4.21% further supports the notion of less aggressive market behavior. What’s Driving the Rally? Ripple’s recent price gains could stem from renewed investor interest following favorable legal updates or partnerships. Additionally, overall market sentiment has leaned positive, likely contributing to XRP’s steady climb. Related article: Ripple’s Strategic Vision for Transforming XRP Holders’ Futures Although the cryptocurrency market remains unpredictable, XRP’s resilience in recovering from midweek lows signals confidence among traders. If bullish momentum persists, a retest of the $2.50 level might be imminent. While XRP’s price has yet to breach its all-time high, its 7-day rally has strengthened market confidence. If trading volume increases in the coming days, XRP could gain further traction. For now, investors remain watchful, hoping to ride the wave of Ripple’s upward momentum.
Shiba Inu Sees 105% Burn Rate Spike and Price Surge
The Shiba Inu community continues its push to reduce the SHIB meme coin supply, achieving a 105% increase in the burn rate. The second-largest canine-themed cryptocurrency saw its price rise by nearly 8% in the same period. The Shibburn tracking platform reported that the SHIB community burned 1,877,749 coins in the last 24 hours. A single transfer accounted for 1,000,707 SHIB, significantly impacting the overall burn rate. Over the past year, the community eliminated a staggering 44.6 billion SHIB, worth just under $1 million. Despite these efforts, many SHIB enthusiasts remain skeptical. They argue that the burns are too small to significantly reduce the circulating supply within a year or two. Source: Shibburn Burn Efforts and Goals Token burns aim to reduce the total supply, increasing scarcity and potentially driving up the price. However, SHIB still has a long way to go. Only half of its initial quadrillion supply has been burned so far. In 2021, Ethereum co-founder Vitalik Buterin burned a massive portion of SHIB after receiving it from SHIB’s founder, Ryoshi. Related article: Shiba Inu Market Stability Amid 99.5% Whale Activity Decline Last December, SHIB fans sent 2.67 billion coins to dead-end blockchain wallets. While these efforts contribute to the burn initiative, the pace needs acceleration to make a noticeable difference soon. SHIB Price Sees Unexpected Growth In the last 24 hours, SHIB’s price surged by nearly 10%, climbing from $0.00002084 to $0.00002270. The meme coin mirrored Bitcoin’s performance, as BTC rose 3.81% since January 1, reaching $96,520. Related article: Shiba Inu on Edge: Can It Survive Below 67 Trillion SHIB Level? SHIB, like many cryptocurrencies, closely follows Bitcoin’s price movements. This connection underscores the broader market’s influence on SHIB’s performance. While SHIB’s community-driven burn efforts continue, the coin’s price remains tied to the volatility of the larger crypto market. With both burns and price spikes drawing attention, the SHIB community remains hopeful for long-term growth.
Breaking Down Dogecoin’s Stunning Performance in 2024: 266% Growth?
Dogecoin (DOGE), one of the most popular meme-inspired cryptocurrencies, has had an eventful 2024, marked by remarkable growth and notable volatility. With its price soaring by an astonishing 266.08% over the past year, DOGE has solidified its position as a top contender in the cryptocurrency market. Starting at approximately $0.08205 in early 2024, Dogecoin closed the year at $0.3419, representing significant gains for long-term holders. This analysis dives into the key price movements, historical comparisons, and market dynamics that shaped Dogecoin’s journey in 2024. Early Momentum and Mid-Year Consolidation The year began modestly for Dogecoin, as it traded around the $0.08 mark with relatively low market activity. However, as the broader cryptocurrency market gained momentum, DOGE began its ascent in the first quarter of 2024. By March, the coin’s price had nearly doubled, climbing to $0.16. This early surge was driven by renewed retail investor interest and growing mentions on social media platforms, particularly among Dogecoin’s dedicated community. Related article: DOGE Price Trends and Whale Activity: What’s Driving the Market? By mid-year, Dogecoin saw its price stabilize between $0.20 and $0.25, reflecting a period of consolidation. While other cryptocurrencies experienced sharp corrections during this phase, DOGE’s price resilience suggested a strong base of support. Market analysts credited this stability to increasing adoption, with Dogecoin being accepted as a payment method by several major retailers and online platforms. A Stunning Rally to Year-End Highs The most dramatic price action came in the latter half of 2024, particularly between September and November. During this period, Dogecoin surged to a yearly high of $0.40 before briefly touching $0.44. This rally was fueled by a mix of speculative interest, macroeconomic factors favoring cryptocurrencies, and high-profile endorsements from influential figures in the tech and entertainment industries. Notably, this spike propelled Dogecoin to the 7th position by market capitalization, reaffirming its relevance in the crypto space. Source: CoinMarketCap Despite this explosive growth, DOGE’s price faced some pullbacks in December, likely as investors took profits ahead of the new year. The coin’s closing price of $0.3419 still represented a remarkable gain, far exceeding the returns of many other cryptocurrencies over the same period. While 2024 was a standout year for Dogecoin, it’s worth comparing this performance to its historical highs and lows. DOGE reached an all-time high of $0.7376 on May 8, 2021, which remains a distant target for the coin. In contrast, its all-time low of $0.00008547, recorded on May 7, 2015, highlights the immense growth the cryptocurrency has achieved over the years. This year’s price performance, with its 266% annual increase, showcases Dogecoin’s enduring appeal as both an investment and a cultural phenomenon. Factors Behind the Surge Several factors contributed to Dogecoin’s impressive performance in 2024. First, the broader acceptance of cryptocurrencies as viable assets played a pivotal role. Additionally, Dogecoin’s community-driven nature and its appeal as an affordable entry point for new investors made it an attractive choice. Another key driver was the heightened media attention surrounding blockchain advancements, which often benefited DOGE disproportionately due to its meme status and mass appeal. Related article: Dogecoin Faces Key Resistance in Push for Historic Gains As 2025 begins, the outlook for Dogecoin remains optimistic yet cautious. The cryptocurrency’s ability to maintain its recent gains will likely depend on broader market conditions and the pace of adoption. With its price currently sitting at $0.3419 and a solid support base, Dogecoin has once again proven its staying power. Whether it can reclaim its 2021 highs remains uncertain, but one thing is clear: Dogecoin is far from fading into obscurity. 2024 was a transformative year for Dogecoin, marked by substantial growth and renewed interest. As the new year unfolds, DOGE investors and enthusiasts will undoubtedly keep a close eye on the factors that drive its next big move.
24 Hours Price Analysis: Jasmycoin (JASMY) Struggles to Maintains Stability as Market Decreases by 2.86% – What to Expect
Jasmycoin (JASMY) has demonstrated resilience in the past 24 hours, navigating a fluctuating crypto market with composure. As traders keep a close eye on this digital asset, its price movements and indicators reveal key insights about potential trends. JASMY Market Overview In the last day, JASMY’s price ranged between $0.035 and $0.042, with a slight decline of 2.86%. While the asset experienced a brief surge, it failed to maintain upward momentum, settling near $0.036 as of this writing. The chart reveals critical insights through the exponential moving averages (EMAs) for the 20, 50, 100, and 200 periods: Related article: Price Analysis: Jasmycoin (JASMY) Breaks Below Key Support Levels Amid Bearish Momentum, Plummets by 16.72% in 24 Hours – Is This Dip Ending Anytime Soon? RSI Divergence The RSI divergence indicator plays a pivotal role in identifying trend reversals. With a current value of 6.72, the RSI divergence remains in positive territory, hinting at bullish momentum despite the price’s sideways movement. However, the divergence’s modest scale suggests caution, as momentum may not yet be strong enough to catalyze a significant breakout. Key Takeaways JASMY’s price action highlights a balanced interplay between bullish and bearish forces. The convergence of short-term and mid-term EMAs signals potential consolidation, while the RSI divergence hints at an underlying bullish bias. Traders should watch for price movements above the $0.037 level to confirm a breakout or below $0.036 for a breakdown.
Shiba Inu Market Stability Amid 99.5% Whale Activity Decline
Shiba Inu (SHIB), a popular meme-based cryptocurrency, continues to face dramatic changes both in its market performance and on-chain activities. A notable event occurred recently with a 99.5% drop in bullish whale activity within just one day. Significant Whale Inflow Collapses Two days ago, large investors holding at least 0.1% of SHIB’s total supply saw their net inflow of tokens rise sharply. According to data from IntoTheBlock, this figure surged from 60.75 billion tokens to 2.97 trillion. Related article: Shiba Inu Price Drops: Can SHIB Regain Bullish Momentum? However, the inflow plummeted to a mere 14.8 billion tokens today, marking the lowest level of the week. The analysis shows minimal changes in token outflows from these wallets during the same period. Source: IntoTheBlock Despite this, inflow levels showed significant volatility. Initially, inflows jumped by nearly three trillion SHIB tokens daily before dropping to 760.82 billion tokens. Price Reacts to Whale Movements As whale inflows surged, SHIB’s price increased by over 6%, demonstrating the impact of large-scale buying activity. Once inflows normalized, the token’s price stabilized, trading with a slight decline of 2.32%. This stability suggests limited selling pressure from major investors, which helped avoid a severe price drop. Source: CoinMarketCap The sharp decline in net flows primarily reflects the correction of an unusual spike in inflows rather than a mass exodus of whale holdings. This indicates ongoing interest from large investors, with purchases reaching approximately $66 million daily. Related article: Shiba Inu on Edge: Can It Survive Below 67 Trillion SHIB Level? The lack of significant outflows further supports a positive outlook for SHIB, as it avoids the risk of a large-scale sell-off. While the on-chain activity of Shiba Inu whales has experienced fluctuations, the market impact remains manageable. With continued interest from prominent investors and limited selling pressure, SHIB’s price stability offers reassurance to its supporters.
Dogecoin Faces Key Resistance in Push for Historic Gains
Dogecoin (DOGE) is racing against time to repeat its historic growth pattern in December 2024. Cryptorank data highlights an average monthly growth rate of 22.2% for DOGE during this month over the past decade. However, DOGE is currently down by 23% this December, raising concerns about whether it can meet its historic benchmarks. To match its typical December performance, Dogecoin must achieve a remarkable rally of around 50% in the next few days. Historical data offers some perspective. For instance, in December 2017, DOGE recorded its best growth rate of 337.5% after surging by 81.9% in November. Analysts suggest that the coin’s impressive 161.5% growth in November 2024 could set the stage for a similar surprise rally this month. Source: Cryptorank Market Sentiment Hinges on Community and Ecosystem Support Analysts believe DOGE’s ability to stage a comeback depends heavily on ecosystem and community support. While a 50% rally appears daunting, market observers remain cautiously optimistic. Related article: Dogecoin Faces Resistance Amid Consolidation, Showing Minor 1.06% Decrease: 24-Hour Price Analysis The ongoing bullish cycle and DOGE’s historic track record fuel hopes of a recovery. Currently, DOGE trades at $0.3202, reflecting a modest 0.93% increase. Source: CoinMarketCap Despite this slight uptick, trading volume has dipped by 11.17%, settling at $2.31 billion. The fluctuating price trends have shaken investor confidence, particularly over the past 24 hours. Breaking Key Resistance Levels Is Crucial DOGE has shown signs of recovery from its recent low of $0.3103. Analysts note that breaching the 50-day Exponential Moving Average (EMA) at $0.36 is essential to reignite optimism among traders and investors. Without surpassing this resistance level, DOGE’s upward momentum may stall. Related article: DOGE Price Trends and Whale Activity: What’s Driving the Market? Historically, December has been a pivotal month for Dogecoin. Seven years ago, the meme coin surpassed a $1 billion market capitalization for the first time. This legacy, combined with the coin’s adoption momentum, raises the possibility of repeating past achievements. While challenges remain, the next few days will determine whether DOGE can reclaim its December growth legacy.
XRP Struggles at $2.30 Resistance: Can It Break Through?
XRP faces a critical resistance point that could shape its next price movement. After days of market fluctuations, traders closely watch whether the cryptocurrency can overcome its $2.30 resistance level. The current price of XRP stands at $2.20, reflecting a 4.9% drop over the past 24 hours. During this period, the price peaked at $2.31, further highlighting the challenge posed by the $2.30 resistance wall. Despite these fluctuations, XRP has managed to stay above the $2 mark, a testament to its resilience against bearish pressure. Source: CoinMarketCap Bearish Momentum and Declining Volume XRP’s daily chart reveals an absence of consolidation, which could provide the groundwork for a recovery. Instead, bearish sentiment dominates as sellers continue to exert downward pressure. Adding to the concerns, trading volume has dropped significantly by 14.16% within the last 24 hours, now at $4.6 billion. This decrease signals waning interest among traders, making a short-term recovery even more challenging. Related article: XRP Breakout Expected Above $20, Analyst Predicts Nevertheless, a potential reversal remains possible if bullish traders regain control. A successful attempt to push XRP past the $2.30 level could result in moderate price gains, though sharp movements seem unlikely in the near term. Whale Activity Raises Questions Meanwhile, a large-scale XRP transfer to Coinbase has captured market attention. Over 30.17 million XRP, valued at approximately $69.24 million, moved from an unknown wallet to the U.S.-based exchange. This transaction has sparked speculation about its implications for the market. Related article: XRP Consolidates Near $2.24: Is a Major Move Imminent? Some investors worry the transfer could signal a potential sell-off, which might add downward pressure on the token. However, others suggest the whale could be consolidating assets for personal custody rather than planning a sale. Despite current challenges, XRP remains at a critical juncture. A broader crypto market recovery could bolster its price, especially if significant developments within the XRP Ledger ecosystem provide additional support. For now, XRP’s path depends on breaking the $2.30 resistance and sustaining its momentum.
Dogecoin Battles Resistance: Can It Reignite Bullish Momentum?
Dogecoin appears to be stabilizing at its current price levels, hinting at a potential end to its recent downtrend. Analysts are speculating whether this stability signals the start of a recovery or if further declines are still likely. Currently, DOGE trades below its 50-day EMA (Exponential Moving Average), positioned at approximately $0.36, reflecting its struggle to regain bullish momentum. RSI Suggests Limited Selling Pressure The Relative Strength Index (RSI), hovering near 42, indicates limited selling pressure despite the recent price drops. While the RSI remains above oversold territory, the potential for further declines cannot be ignored. Earlier in December, DOGE’s price broke below its ascending channel, shifting into a descending structure. This breakdown has introduced a more bearish outlook for the asset in the short term. Related article: Can Dogecoin (DOGE) Hit $1 by 2025? DOGE is now approaching its 100 EMA, located near $0.28, which could act as a crucial support level. If the price breaks below this point, the 200 EMA, at around $0.22, becomes the next significant level to monitor. A breach at this level could signal a major trend reversal, causing further bearish sentiment in the market. Resistance Levels for a Bullish Rebound To trigger a bullish recovery, DOGE must surpass the 50 EMA at $0.36. Breaking this barrier could lead to a test of the upper resistance zone between $0.38 and $0.40. Historically, this range has been a significant hurdle for DOGE during previous rallies. Source: CoinMarketCap The RSI reflects a neutral stance, suggesting that DOGE is neither overbought nor oversold. This aligns with the market’s current sideways movement, indicating indecision and a wait for a clear directional signal. Traders should closely monitor the price’s interaction with the 100 EMA and the RSI. A bounce from the 100 EMA could spark recovery optimism, but failure to hold this level may invite renewed selling pressure. Related article: Dogecoin to Reach $4: Analyst Predicts End of Correction and Breakout Timeline Dogecoin’s price action remains at a critical juncture. While stabilization offers hope for recovery, key support and resistance levels will determine its next move. Traders must stay vigilant as DOGE navigates this pivotal phase.
Shiba Inu Price Drops: Can SHIB Regain Bullish Momentum?
Shiba Inu (SHIB) faced a major setback after its recent recovery attempt failed to break through the crucial 100 EMA resistance level. The price, which currently trades around $0.00002215, reversed its upward movement, causing concern among traders and investors. The 100 EMA, positioned near $0.00002255, acted as a strong resistance and halted SHIB’s rally. This rejection highlights the persistence of bearish sentiment, with the market lacking the strength to sustain a long-term upward trend. Declining Volume Signals Waning Interest Adding to the challenges, SHIB’s trading volume has dropped significantly. A decline in volume during a failed recovery often indicates reduced market interest. This reduced participation makes it harder for the price to maintain bullish momentum. Related article: Analyst Predicts Shiba Inu’s Progression Toward $0.000081 Without notable market catalysts, speculative interest in SHIB has faded, further contributing to its lackluster performance. Looking ahead, SHIB finds immediate support near the 200 EMA, approximately at $0.00002055. A break below this support could trigger a steeper decline, possibly pushing the price toward the psychological support level of $0.00001900. Source: CoinMarketCap On the upside, reclaiming the 100 EMA at $0.00002255 remains critical for SHIB to regain bullish momentum. If successful, the price could aim for the next resistance level at $0.00002494. Challenges in Staying Relevant Despite overall market growth, SHIB struggles to stay relevant among investors. Its poor performance underscores the importance of finding new market participants and maintaining critical support levels. Related article: Shiba Inu on Edge: Can It Survive Below 67 Trillion SHIB Level? For SHIB to stage a recovery, traders should monitor volume and momentum indicators closely. These factors will likely determine whether the token can reverse its downward trend and regain investor confidence. With bearish pressure persisting, SHIB faces an uphill battle. Only a significant increase in volume or market catalysts can shift its trajectory and renew optimism among investors.
DOGE Price Trends and Whale Activity: What’s Driving the Market?
Crypto analyst Ali has reported that Dogecoin (DOGE) whales recently acquired 270 million DOGE within 96 hours. This purchase, valued at around $89.64 million at current prices, has ignited speculation about upcoming market movements. Whales often accumulate large amounts of cryptocurrency during consolidation phases or price dips. These periods allow them to buy at lower prices, potentially maximizing future gains. Dogecoin, currently consolidating after a significant market sell-off, dropped to $0.261 on December 20. This trend suggests that whales might be positioning for a potential price surge or reacting to anticipated developments within the Dogecoin ecosystem. Dogecoin Foundation Advances Ecosystem Development The Dogecoin Foundation has been actively working on initiatives to enhance Dogecoin’s adoption and functionality. These efforts include integrating software, libraries, and services to make Dogecoin a more viable payment option. Moreover, the foundation is focused on creating tools to support grassroots adoption, especially in emerging economies. Related article: Could DOGE Rally to $18 After a 46% Drop? Historical Trends Suggest It Might In its 2024 ecosystem report, the foundation revealed that open-source software for Dogecoin is nearing readiness for widespread adoption. This progress presents an opportunity for businesses to commercialize these tools, making Dogecoin payment solutions accessible to a broader, nontechnical audience. Dogecoin Price Trends and Key Levels Dogecoin has shown price fluctuations since rebounding from its low of $0.261 on December 20. Within two days, the price surged to $0.34 on December 24. As of now, Dogecoin trades at $0.332, reflecting a 3.93% increase in the last 24 hours but a 15% decline over the past week. Related article: Dogecoin Faces Resistance Amid Consolidation, Showing Minor 1.06% Decrease: 24-Hour Price Analysis On the upside, Dogecoin faces resistance at $0.349 and $0.373, its 50-day moving average. A further rise could push the price to $0.43, a strong resistance level. On the downside, support levels are expected at $0.27 and $0.23, with additional support at the 200-day moving average of $0.182. This accumulation by whales and ongoing development efforts indicate potential opportunities for Dogecoin in the near future. However, traders must monitor key price levels and market developments closely.
