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Two Bullish Pattern Hint Dogecoin Set for Over 30% Rally

Albert Brown
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Two Bullish Pattern Hint Dogecoin Set for Over 30% Rally

Market analyst “CobraVanguard” asserts that Dogecoin may be on the brink of a major rally.

Amid macroeconomic headwinds in recent weeks, doggy-themed crypto Dogecoin (DOGE) has dropped significantly from recent highs of $0.48. But if one analyst is to be believed, the asset may be on the verge of recouping the bulk of these losses.

Bullish 4-Hour Chart Patterns

Market analyst “CobraVanguard” has asserted that Dogecoin may be on the brink of a major rally.

In a TradingView idea published on Tuesday, January 14, the analyst contended that DOGE could be set to rally 34% from the current price of about $0.35 to $0.47. 

CobraVanguard disclosed this, citing “two bullish patterns” on the meme coin’s four-hour candle chart.

DOGEUSDT 4 hour candle chart
DOGEUSDT 4 hour candle chart. Source: CobraVanguard

The first pattern was an ascending triangle chart pattern DOGE entered in early December 2024 with resistance around the $0.40 price point. The pattern is often believed to be bullish as the asset’s price continues to record higher lows.

Meanwhile, CobraVanguard highlights that DOGE also appears to be forming a cup and handle pattern within this ascending triangle chart pattern. The analyst asserts that a breakout of either of these patterns was likely to spark a run to the $47 price point.

The recent analysis follows last week’s data suggesting that the average returns of DOGE traders had turned negative amid market struggles. At the time, however, Santiment Feed had noted that the decline could offer opportunities for savvy traders, especially as it anticipated a market recovery in the short to medium term.

Giant Whales Deploy $100M to Cardano as Price Climbs Above $1

Albert Brown
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Giant Whales Deploy $100M to Cardano as Price Climbs Above $1

Influential crypto investors are betting big on Cardano, with their activities positively reflecting on the price of the crypto asset.

In a tweet today, market watcher Ali Martinez informed the crypto community that crypto whales added 100 million ADA tokens to their portfolios over the past two days. Notably, these investors typically hold between 100 million and 1 billion ADA tokens.

With the latest investment, this tier of Cardano whales now controls a portfolio of over 3.44 billion ADA tokens. As of January 13, these whales had a collective holding of around 3.35 billion ADA.

Cardano Price Reacts

At that time, Cardano was trading at around $0.998, suggesting they deployed around $100 million in the Cardano market. However, as of today, the effects of the two-day accumulation have been felt, with the price of ADA rising to $1.06. At the time of reporting, Cardano continues to defend the $1 mark.

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Chart showing Cardano whale accumulation with ADA price

Historically, Cardano’s price has reacted to whale accumulation, and this latest observation is no different. In a tweet on January 12, Martinez revealed that Cardano whales added 90 million ADA tokens to their portfolios over a 96-hour window.

The buying spree began when ADA dipped to $0.8838 last Thursday. However, by the third day, Cardano’s price had improved to $1.03. The subsequent dip back to $0.8893 presented another opportunity for Cardano whales to further consolidate their holdings with an additional 100 million tokens.

It is worth mentioning that there have been instances where the ADA holdings of whales dropped slightly. A notable example was when they liquidated 70 million tokens between January 6 and 8. Nonetheless, despite this, the general trajectory of their holdings has been upward over the past eight weeks.

What’s Next for ADA?

With the latest $100 million deployment into the Cardano market by whales, community members are interpreting the move as an indication that they “know something.”

This view is strengthened when considering an earlier report by The Crypto Basic, which revealed that crypto bulls bought $6 billion worth of Cardano on Christmas Day. Essentially, these investors may be positioning themselves for even greater gains beyond the current levels of around $1.

According to commentators like Dan Gambardello, a $14 price for Cardano, aligning with a $500 billion market cap, is a realistic expectation for this bull cycle.

Will Dogecoin Rally to $0.39 as Open Interest Spikes to $4B?

Albert Brown
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Will Dogecoin Rally to $0.39 as Open Interest Spikes to $4B?

Will Dogecoin (DOGE) continue its breakout rally and experience a parabolic rise this week?

The altcoin cryptocurrency market is seeing a significant 5% uptick. Amid this recovery, Dogecoin surpassed its $0.35 psychological resistance, with its market cap reaching $53 billion.

As the largest meme coin in the crypto market, Dogecoin holds a dominance of nearly 50% in its segment. Will this upward trend propel Dogecoin beyond the $0.40 mark?

Dogecoin Price Analysis

Despite a strong bearish influence earlier in the week, Dogecoin remains above its 23.62% Fibonacci support level at $0.31385.

Following the projected double-bottom reversal mentioned in our previous article, Dogecoin has regained bullish momentum.

Dogecoin Price Chart
Dogecoin Price Chart

With the bullish divergence in the RSI supporting the recovery, Dogecoin’s price has risen near the 50% Fibonacci level at $0.3675. Currently, Dogecoin is trading at $0.3625, marking a series of consecutive bullish candles.

The chances of positive crossovers have increased significantly after rising above the 200 EMA line and the 38.20% Fibonacci level at $0.34356. Additionally, the 4-hour RSI has reached its overbought boundary, further supporting the likelihood of continued upward momentum.

Optimistic Speculations Rise in Dogecoin

As Dogecoin’s recovery rally gains strength, open interest in the coin has also increased. With a 10.83% rise in the past 24 hours, Dogecoin’s open interest now stands at $4.39 billion.

Although the long-to-short ratio of 0.9964 indicates a slightly higher number of bearish positions, the volume-weighted funding rate for Dogecoin has surged to 0.0098%. This suggests traders are willing to pay a premium to maintain their bullish positions.

In particular, the derivatives data points to a potential uptrend continuation, supported by rising open interest, an increasing funding rate, and an improving long-to-short ratio.

Dogecoin Derivatives
Dogecoin Derivatives

DOGE Price Targets

The breakout at the neckline level of $0.34356 continues to gain momentum, raising the likelihood of a sustained bullish trend. Over the past 24 hours, Dogecoin has risen by 5.26%, reinforcing its position in an uptrend.

As bullish momentum builds, Dogecoin is likely to reach the $0.39159 mark at the 61.80% Fibonacci level. However, if the broader market experiences a slowdown, a potential retest of the 38.20% Fibonacci level at $0.34356 is also possible.

Bitcoin to $1M in 2025? Samson Mow Doubles Down on Bold Call

Okoya David
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Bitcoin to $1M in 2025? Samson Mow Doubles Down on Bold Call

JAN3 CEO Samson Mow doubles down on the “Bitcoin to $1 million in 2025” call.

No sooner had Bitcoin reached $100,000 than its proponents began setting even higher price milestones. Among the sea of predictions, however, JAN3 CEO Samson Mow’s prediction that Bitcoin will hit the $1 million mark stands out.

No, not because of the price—$1 million Bitcoin price predictions are now commonplace in crypto—but because of the timeline he anticipates for the asset to hit this target. Specifically, Mow has argued that Bitcoin will hit the $1 million price point in 2025, and he is doubling down.

Samson Mow Insists on 2025 $1M Bitcoin Call

In an X post on Wednesday, January 15, JAN3 CEO Samson Mow asserted that Bitcoin would hit $1 million in 2025, doubling down on the call he first made in December 2024 in an interview with finance YouTuber Rajat Soni.

Mow’s latest statement alluding to the ambitious prediction came in response to a comparison of Bitcoin’s current price action with the 2017 bull market by market analyst “Blackwidow.” Overlaying the 2017 price action on the chart set a price target of $1 million Bitcoin per coin.

Interestingly, this belief that Bitcoin would replicate its 2017 run was the basis for Mow’s argument for Bitcoin to $1 million. He argued that if Bitcoin could pull a 20x from $1,000 to $20,000 in 2017 despite negative narratives around the impact of the asset’s mining on the environment and a lack of institutional interest, it could more easily pull it off now.

But even staunch Bitcoin advocates are not convinced.

“Absolutely No Way”

Samson Mow’s $1 million Bitcoin target for 2025 has unsurprisingly been met with significant skepticism. Responding to the prediction, “yuppie.eth” quipped, “Absolutely no way.”

At the same time, “J. Fong” highlighted the seemingly unrealistic nature of the call by pointing out that Bitcoin has only grown by about an average of $7,000 a year since its 2021 high of $69,000.

These sentiments come as Bitcoin’s current price of about $97,000 suggests that it would take significantly more capital than in 2017 to achieve such magnitude of gains, which may be difficult to accumulate in a year.

For context, Bitcoin would likely need a market cap of $19.8 trillion to hit the $1 million mark with its current circulating supply of 19.8 million coins. At the time of writing, the asset has a market cap of only $1.92 trillion.

Mow had also previously claimed that Bitcoin will hit $1 million in 2024.

Ethereum Price Analysis: Bulls Target $3,415 This Week

Albert Brown
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Ethereum Price Analysis: Bulls Target $3,415 This Week

Ethereum (ETH) price trend shows a rapid V-shaped recovery, gaining momentum that could push it beyond $3,250. Will this breakout rally reach $3,415?

Ethereum’s price is steadily gaining traction as Bitcoin (BTC) crosses $97k. After dipping below the $3,000 mark to a temporary low of $2,913, Ethereum has since regained ground above the $3,200 level.

This rebound reflects increasing market confidence. Could this recovery lead to a surge toward the $4,000 mark?

Ethereum Price Analysis

In the 4-hour price chart, the Ethereum price trend reveals a V-shaped reversal, accounting for a price surge of 11% from the recent low of $2,913. Currently, Ethereum is trading at $3,235 and has risen above the 20 EMA line, suggesting an early bullish signal. 

Ethereum Price Chart
Ethereum Price Chart

Meanwhile, Ethereum’s recovery is testing the resistance level at $3,244. The alignment of the 20, 50, 100, and 200 EMA lines on the 4-hour chart is bearish, indicating potential resistance ahead.

Thus, Ethereum’s recovery could face multiple dynamic resistance levels. However, the bullish divergence in the 4-hour RSI line suggests strong underlying support, leading to a swift turnaround.

This divergence underscores growing buyer interest, and as buying pressure increases, a breakout is more likely, especially with the broader market’s recovery.

Ethereum ETFs Conclude 4-Day Outflow Streak

On January 14, Ethereum ETFs recorded a net inflow of $1.15 million, led by Bitwise. This marks a positive shift after several days of selling pressure.

However, other listed ETFs experienced net-zero flows, reflecting market stagnation as the broader market stabilizes.

The positive inflow ends a four-day streak of outflows, which had amounted to nearly $260 million.

Ethereum ETFs
Ethereum ETFs

ETH Price Target

As Ethereum’s V-shaped recovery continues, bolstered by its movement above the 20 EMA, bullish expectations are rising. Based on recent price action, the next resistance level beyond $3,244 is $3,415.

However, the 50 and 100 EMA lines at $3,278 and $3,358, respectively, will act as dynamic resistance. On the downside, key support levels include the 20 EMA at $3,210 and the psychological $3,000 mark. These levels will be crucial in determining Ethereum’s short-term price trajectory.

10x Research Head Gives Timeline for Bitcoin Breakout

Elendu Benedict
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10x Research Head Gives Timeline for Bitcoin Breakout

Markus Thielen, head of research at 10x Research, predicts when Bitcoin will break out of its multi-week symmetrical triangle.

Bitcoin remains range-bound, consolidating within a symmetrical triangle on its daily chart. The structure started forming during the November bullish outburst, with the asset touching the tip with the surge to its current all-time high of $108,230.

With Bitcoin’s recent price action getting tighter due to the narrowing wedge, Thielen has suggested a breakout is on the horizon. In a recent analysis, he cited catalysts for the impending break of structure and gave a timeline for its realization.

Timeline for Breakout

Thielen noted that Bitcoin’s recent price action within the triangle suggests it will break out soon. However, he mentioned that it could push Bitcoin in either direction, suggesting that market users follow the trend and minimize risks.

Bitcoins Symmetrical Triangle
Bitcoins Symmetrical Triangle

Furthermore, the crypto analyst speculated that the largest cryptocurrency by market cap will breach the symmetrical structure no later than the January 29 FOMC meeting.

The Federal Reserve meeting is its first for the year. Meanwhile, the crypto market has lowered expectations of an interest rate slash later this month due to hawkish disclosures from chair Jerome Powell on a reduced rate cut in 2025.

Brightening Macroeconomics Could Catalyse Bitcoin Rally

Meanwhile, Thielen hinted at a bullish break and a subsequent Bitcoin rally. The market expert based his assertion on growing expectations of higher Consumer Price Index (CPI) figures.

He suggested a higher CPI data release today could force a milder inflation reading on January 29, spurring a Bitcoin rally. Meanwhile, he stressed that the Fed rate decision will be pivotal to the crypto market’s direction in the near term.

In the meantime, Thielen stated that Bitcoin will remain range-bound even as pro-crypto Donald Trump’s tenure begins. Notably, this market disposition contrasts with the outlook of crypto pundit Lark Davis.

Incoming Post Inauguration Pump?

In a tweet, Davis pointed to a correlation between Bitcoin’s recent price action and its price movements four years ago. He shared a chart showing that the premier asset has closely followed its price action during the post-elections and pre-inauguration phases.

Bitcoin’s Price Action During Inauguration

For context, Bitcoin rallied from $13,594 on the November 3, 2021, election day to a high of $42,136. Furthermore, the asset corrected to $30,466 pre-inauguration before rallying to $65,000 after Joe Biden’s swearing-in.

Davies noted that while history may not repeat, it often rhymes. In the meantime, Bitcoin trades at $97,018, up 1.33% in the past seven days.

Outgoing SEC Chair on Bitcoin Global Appeal: “Like Gold, But for the Future”

Albert Brown
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Outgoing SEC Chair on Bitcoin Global Appeal: “Like Gold, But for the Future”

Gary Gensler calls Bitcoin a speculative, volatile asset, likening its global appeal to gold’s 10,000-year legacy.

During his appearance on Squawk Box, the outgoing SEC Chair Gary Gensler addressed several critical topics, including Bitcoin, crypto regulation, and his tenure at the agency.

He outlined his perspective on the crypto industry and acknowledged the speculative nature of the digital asset sector. This discussion comes amid his impending departure from the SEC and its implications for crypto regulation.

Bitcoin Future is Promising Like Gold: Gensler

In the interview, Gensler highlighted Bitcoin’s unique position, separating it from the broader crypto market. While he described Bitcoin as a highly volatile asset comparable to gold, he acknowledged its global appeal. 

“With seven billion people around the globe who want to trade BTC, just like we have gold for 10,000 years, we have Bitcoin. It might be something else in the future as well,” Gensler said.

However, he underlined that thousands of other crypto projects must demonstrate their use cases and prove they have solid fundamentals to ensure sustainability.

Addressing regulatory concerns, Gensler reiterated his view that most tokens fall under securities laws due to their investment characteristics. He stressed the importance of disclosure, fraud prevention, and compliance, citing previous enforcement actions under his leadership and his predecessor, Jay Clayton.

Moreover, Gensler criticized the practices of some crypto exchanges, accusing them of conflicts of interest and non-compliance with existing laws.

Focus on Enforcement and Fundamentals

In the discussion, Gensler emphasized that the SEC operates as a law enforcement agency to protect investors. He argued that the crypto market often relies on sentiment over fundamentals, making compliance with securities laws essential for fostering trust.

Gensler maintained that many projects within the space remain non-compliant, causing harm to the investing public.

Meanwhile, Gensler also addressed speculation regarding the role of crypto industry funding in the U.S. presidential election. He dismissed the notion that such contributions influenced the outcome. According to him, the broader economic and political factors hold more weight in determining the election’s direction.

Reactions to Gensler’s Exit

As reports of Gensler’s departure circulated, industry leaders offered reactions. Ripple CEO Brad Garlinghouse celebrated the news, anticipating a pro-crypto shift under a new administration. He also expressed optimism about the U.S. becoming a global leader in crypto under President-elect Donald Trump.

Likewise, MicroStrategy Chairman Michael Saylor viewed Gensler’s exit as a positive development for the digital asset industry. He described it as an opportunity for a regulatory framework more favorable to Bitcoin and other cryptocurrencies.

JPMorgan’s $4-8B XRP ETF Prediction Now Backed by Senior Bloomberg ETF Analyst

Okoya David
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JPMorgan’s $4-8B XRP ETF Prediction Now Backed by Senior Bloomberg ETF Analyst

Senior Bloomberg ETF Analyst Eric Balchunas supports JPMorgan’s estimations of first-year XRP and Solana ETF Inflows.

The ability of exchange-traded funds to easily unlock crypto exposure for everyday and institutional investors has made them a major crypto narrative in recent years as crypto investors drool at the thought of these inflows pumping their bags. 

This narrative has only intensified with the success of spot Bitcoin ETFs in 2024, with market participants now setting their sights on altcoins they believe to be next in line. Among the favorites are XRP and Solana.

While bids to launch investment products tied to these assets have yet to be approved, a major American bank has offered insight into how much success they could achieve. These insights have now received support from a senior Bloomberg ETF analyst.

A “Reasonable” Estimate

Senior Bloomberg ETF Analyst Eric Balchunas has shown support for JPMorgan’s estimations that XRP and Solana ETFs will rake in about $14 billion combined in their first year.

In an X post on Tuesday, January 14, he asserted that the estimate was “a pretty reasonable guess.”

 

In a Monday, January 13 report, analysts at JPMorgan contended that funds tied to XRP and Solana ETFs could rake in about $14 billion in combined inflows in their first year. This estimate was based on the adoption rate of Bitcoin and Ethereum ETFs.

At the time of the analysis, Bitcoin ETFs held about $108 billion worth of assets, representing 6% of the asset’s nearly $2 trillion market cap. On the other hand, Ethereum ETFs held about $12 billion, roughly 12% of the asset’s approximately $400 billion market cap.

Expecting a similar uptake, XRP ETFs are expected to rake in $4 billion to $8 billion at 3% to 6% penetration, respectively. Solana ETFs, on the other hand, are projected to pull $3 billion to $5 billion.

Wen XRP and Solana ETF Approval?

While JPMorgan notes that the looming administration change and present lack of regulatory clarity may delay the processing of applications to launch XRP and Solana ETFs, it contends approvals are still likely in 2025.

The optimistic view comes as President-elect Donald Trump has thrown his weight behind the crypto industry in the past year and has nominated crypto-friendly Paul Atkins for the role of SEC chair.

At least four asset managers have thrown their hats in the ring to launch an XRP ETF. These include Canary Capital, 21 Shares, Bitwise, and WisdomTree.

On the other hand, at least three firms have shown interest in launching Solana ETFs. They include VanEck, Ark Invest, and Canary Capital.

Pro-Crypto Tom Emmer Appointed Vice Chair of Digital Assets Subcommittee

Albert Brown
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Pro-Crypto Tom Emmer Appointed Vice Chair of Digital Assets Subcommittee

Rep. Tom Emmer, a pro-crypto advocate, has been appointed Vice Chairman of the House Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence. 

The appointment came as part of the subcommittee assignments for the 119th Congress. Notably, the assignments reflect Congress’s growing focus on digital assets and financial innovation. This role positions Emmer as an essential figure in shaping U.S. policy on digital assets.

Focus on Digital Asset Leadership

The Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence plays a role in crafting regulations for the rapidly evolving financial sector. Emmer, a vocal supporter of blockchain and crypto, has emphasized the importance of maintaining American leadership in digital asset innovation. 

In an X post, Emmer stated that the current political environment presents a unique opportunity to shape the future of digital assets. 

Emmer added that, with President Trump in office and Gary Gensler no longer influencing policy, the landscape has shifted. According to him, there is an excellent opportunity to ensure digital asset development aligns with American principles and values.

The subcommittee’s role extends to exploring how emerging technologies like artificial intelligence intersect with the financial system.

Meanwhile, in the announcement, Committee Chairman French Hill underscored the broader mission to ensure accountability. He also cited the importance of supporting community banks and protecting consumers within a balanced regulatory framework.

Hill’s remarks about the subcommittee assignments emphasized readiness to tackle pressing challenges. These include addressing oversight gaps and developing policies to bolster U.S. competitiveness in the global digital economy.

Advancing Trump’s Policy Mandate

Rep. Tom Emmer previously outlined his commitment to advancing President Donald Trump’s policy agenda despite the narrow majority held by House Republicans. 

According to him, Trump’s election reflected a public mandate to address key issues, including excessive government spending, the national debt, and inflation concerns that arose early in the Biden administration.

Furthermore, Emmer highlighted public expectations for securing the southern border and fostering global peace and stability as priorities under Trump’s leadership.

Trump Administration’s Crypto Advisory Plans

Parallel to Emmer’s appointment, reports suggest the Trump administration is assembling a 24-member crypto advisory council. This move affirms the administration’s intent to involve industry leaders in policy formulation. 

The council will advise on strategies for digital assets, including the creation of a proposed Bitcoin reserve. According to reports, most appointees are expected to be established figures in the crypto sector. Additionally, many of these already have connections to Trump’s team.

SEC Sues Dogecoin Father Elon Musk Over His Twitter Deal

Lele Jima
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SEC Sues Dogecoin Father Elon Musk Over His Twitter Deal

The U.S. SEC has charged tech mogul and major Dogecoin supporter Elon Musk with failing to promptly disclose his stake in social media company Twitter (now X). 

In a Tuesday statement, the SEC claimed Musk violated the beneficial ownership reporting requirements under the Securities Exchange Act of 1934 while acquiring Twitter in 2022. 

For context, Musk splashed a whopping $44 billion to acquire Twitter in 2022 and later renamed the platform to X. Prior to completing the deal, Musk, the owner of Tesla, went on an accumulation spree to increase his Twitter shares. 

SEC Complaints 

The complaint alleged that Musk, who owned over 5% of Twitter’s stock in March 2022, failed to report his holdings in a timely manner by March 24, 2022. He subsequently acquired another $500 million worth of Twitter stock between March 25 and April 1, 2022. 

According to the complaint, Musk acquired these stocks at lower prices by failing to disclose his initial 5% holdings on time. The complaint alleged that this untimely disclosure helped Musk save $150 million, causing investors economic harm. 

The SEC filed its complaint in the U.S. District Court for the District of Columbia, seeking injunctive relief, disgorgement of the $150 million, and interest. The commission also wants the court to impose a civil penalty against Musk for violating the reporting requirements for beneficial ownership reporting. 

Musk Responds 

Responding to the allegation, Musk referred to the SEC as a “totally broken organization.” He further criticized the commission for “wasting its time” on trivial matters, like the lawsuit against him, instead of actual crimes that continuously go unpunished. 

His lawyer, Alex Spiro, also reacted to the lawsuit in a statement to the Associated Press, calling the case a ‘sham.’ Spiro said Musk has not committed any crime, highlighting the lawsuit as the SEC’s failure to bring an actual case against him. 

The recent filing comes a few days before SEC Chair Gary Gensler officially resigns on January 20.

Dogecoin founder and Elon Musk reacting to the SEC lawsuit
Dogecoin founder and Elon Musk reacting to the SEC lawsuit

Recent Lawsuits Against Musk 

Notably, this latest lawsuit adds to a series of enforcement actions the SEC has brought against Musk. Recall that the commission sued Musk in 2018 for making false statements about taking his electric car company Tesla private. 

In 2023, the SEC sued Musk in a San Francisco court to compel him to comply with its ongoing investigations into his Twitter purchase. 

The American billionaire has also faced several legal actions from different entities. One major case relates to crypto, in which a group of investors sued Musk in 2022 due to his support for Dogecoin.

They alleged that Musk manipulated the price of Dogecoin via his bullish tweets about the asset. However, U.S. District Judge Alvin Hellerstein dismissed the lawsuit in August 2024 for lacking admissible evidence.  

Meanwhile, the SEC’s recent lawsuit against Musk will unlikely continue under the incoming administration. Musk was instrumental in Donald Trump’s reelection, with the U.S. President-elect appointing him to head the Department of Government Efficiency (D.O.G.E), which focuses on reducing the federal government’s expenses. 

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