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Dogecoin soared recently by 29% amid renewed reports that the Elon Musk-led electric vehicle manufacturer Tesla incorporated DOGE as a payment instrument.
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#Dogecoin marks a bullish breakout as the House of DOGE launches an Official Dogecoin Reserve. Will this push DOGE prices to $0.25? Dogecoin trades at $0.1873, having surged nearly 5% over the past 24 hours. The bullish recovery is closing in on the $0.20 psychological mark. Furthermore, the DOGE price trend indicates a breakout event, signaling an extended rally ahead. Will this result in a price surge to the $0.25 mark? Dogecoin Channel Breakout Signals Post-Retest Reversal On the 4-hour price chart, the DOGE price trend shows a bullish comeback, gaining momentum with a 5% surge in 24 hours. The recovery led to a breakout of a long-standing resistance trendline. The resistance trendline had previously kept bullish growth under control within a parallel channel. After the bullish breakout, the DOGE price trend retested the broken trendline. This suggests a potential post-retest reversal for Dogecoin. The recovery rally has also surpassed the 50-day and 100-day EMA lines, increasing the likelihood of a positive crossover between the two. Additionally, the MACD and signal lines are maintaining a bullish alignment in positive territory. Thus, technical indicators suggest an optimistic outlook for Dogecoin. House of DOGE Launches Official Dogecoin Reserve Fueling the bullish trend in Dogecoin, the Dogecoin Foundation’s corporate arm, House of Doge, has recently announced the launch of the Official Dogecoin Reserve. This strategic reserve includes an initial purchase of 10 million DOGE, valued at nearly $1.8 million. The purpose of the strategic reserve is to support the global currency and payment vision of the Dogecoin Foundation. Dogecoin Price Targets According to the Fibonacci levels, the post-test reversal in Dogecoin is likely to target the 23.60% Fibonacci level at $0.1945. This is very close to the 200 EMA line and the $0.20 psychological mark. If the bullish momentum continues, the breakout rally could target the 50% Fibonacci level at $0.2536, indicating an upside potential of nearly 38%. #CryptoNewsCommunity
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The growing complexity in #Ethereum price trend over the $2,000 level warns of increased volatility. Will a post-retest reversal navigate a rally to $2,500? Amid the growing anticipation of the crypto market reclaiming a $3 trillion valuation, Ethereum maintains dominance above the $2,000 mark. After recently retesting the psychological $2,000 level, Ethereum is trading at $2,954, with an intraday pullback of 1.28%. However, a lower price rejection and a short-term recovery on the 4-hour chart suggest a potential bounce-back. Will this post-retest reversal help Ethereum reach the $2,500 mark? Ethereum Price Analysis Hints Extended Recovery On the 4-hour price chart, Ethereum’s price trend shows a reversal rally with a breakout from a consolidation range. Ethereum marked an upswing near the $2,100 level, crossing above the 100 EMA line. However, a higher price rejection has led to a retest of the 100 EMA line near the $2,000 psychological level. Despite this minor setback, the overall trend remains bullish, with the uptrend maintaining its bullish momentum. The short-term recovery also increases the likelihood of a positive crossover between the 50 and 100 EMA lines. Ethereum ETFs Mark Net Zero Flow As Ethereum’s price trend hints at a potential bounce-back, institutional investment in the token reported a net-zero flow on March 24. This marks the seventh day of net-zero flow since the inception of Ethereum ETFs in the U.S. market. Currently, the total net assets held by Ethereum ETFs amount to $7.17 billion, or 2.85% of Ethereum’s market cap. Meanwhile, the cumulative net inflow stands at $2.42 billion since inception. #CryptoNewsCommunity
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"XRP Lawsuit Nears End: Analyst Forecasts Final Verdict"
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#Ripple Chief Technology Officer David Schwartz has criticized suggestions that XRP is a security according to the IMF’s definition of a utility token. Last week, the International Monetary Fund (IMF) released the first update to its Balance of Payments and International Investment Manual since 2009, with the framework now including cryptocurrencies. While this update highlights the growing recognition of cryptocurrencies, the IMF’s classification of these assets has sparked debates. One such debate regarding XRP prompted a response from Ripple’s CTO, David Schwartz. Ripple CTO Reacts to IMF’s Classification of Utility Tokens Like XRP Schwartz has rejected suggestions that XRP qualifies as a security based on the IMF’s definition of a utility token. For context, the IMF’s new Balance of Payment Manual, BPM7, classifies crypto-assets according to whether or not they impose a financial claim or liability on the issuer. While the IMF argues that Bitcoin does not impose this liability due to the mining process, it suggests utility tokens—often referring to altcoins—do. It asserts that these assets are “debt securities” that offer holders future access to goods and services. This has led some to comment humorously, “XRP is about to be listed as a security permanently.” However, Schwartz counters that if XRP fits this definition of a utility token, then Bitcoin and Ethereum also fall within it. “If XRP is a utility token [or security per IMF] because you can use it to pay future transaction fees, then so are Bitcoin and Ethereum,” Schwartz asserted. Notably, if the IMF’s definition of utility tokens is taken literally, it could classify not only XRP but also other major assets like Ethereum and Solana as “debt securities.” Meanwhile, Ripple’s CTO stressed that he is not aware of any major token that fits the IMF’s security definition of a utility token. The latest debate over XRP’s classification comes as Ripple prepares to wrap up the legal battle in which the classification of XRP plays a central role.
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