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Bearish Clouds Over PEPE: Is a Drop to $0.000014 Inevitable?

The PEPE meme coin price is facing bearish pressure, testing support at $0.00001732. Can it recover, or will it retest the critical $0.000014451 level?

With Bitcoin’s price remaining under the $100,000 mark, the bearish influence on meme coins continues to grow. The market cap of meme coins has dropped to $97.83 billion, marking a 3.48% decline over the past 24 hours.

Amid this downturn, PEPE’s price has fallen by 6.62% in the same period, bringing its market cap down to $7.33 billion. With the increasing bearish pressure, will PEPE face a short-term pullback to the 7-day low of $0.000014451?

PEPE Price Analysis

On the 4-hour chart, PEPE’s price action shows a failed attempt at a rounding bottom breakout. The price failed to surpass the neckline at $0.00001988, and the higher price rejection kept the peak price below the 38.20% Fibonacci level.

PEPE Price Chart
PEPE Price Chart

The crucial Fibonacci resistance level is priced at $0.00001921. The bearish reversal in PEPE price is now testing the 23.60% Fibonacci level at $0.00001739. 

This accounts for a price drop of 10% and breaks below the 20 EMA line. Along with the crucial Fibonacci resistance, the dynamic average line of 50 EMA keeps the bullish growth under check. 

Moreover, the bearish turnaround results in a negative crossover in the MACD and signal lines. Furthermore, the 100 and 200 EMA lines are on the verge of giving a bearish crossover. Hence, the technical indicators are giving a sell signal for the PEPE meme coin.

PEPE Price Target

Based on the price action, the crucial support at $0.00001732 and the 23.60% Fibonacci level form a solid demand zone for PEPE. However, a close below this level on the 4-hour chart will likely lead to a retest of $0.000014451.

On the other hand, if the broader market recovers, a sharp reversal breaking above the 38.20% Fibonacci level could test the horizontal resistance at $0.00002232. This level is slightly above the 68.80% Fibonacci level at $0.000022155.

Bitcoin Path to Recapture $100K: Short-Term Volatility Increases Odds of Bullish Breakout

The price of Bitcoin recently reached a 24-hour high of $99,881, just shy of $100K. Will Bitcoin break through resistance for a potential surge to $102,557?

With Bitcoin nearing a $2 trillion market cap, short-term volatility is increasing the chances of a $100,000 breakout. If this happens, the ongoing Santa Rally in the crypto market suggests a BTC price target of $102,557.

Bitcoin Price Analysis

As mentioned in our previous Bitcoin price analysis article, Bitcoin’s price was approaching the $100,000 mark. However, the significant supply at the psychological resistance level of $100,000 triggered a quick pullback.

On the 4-hour chart, the BTC price is currently retesting the 50 EMA, priced at $98,043.

Bitcoin Price Chart
Bitcoin Price Chart

With a slight downward price movement, Bitcoin trades at $98,011, showing support from the dynamic average. As Bitcoin holds higher levels, the uptick in the 20 EMA projects a potential crossover with the 50 EMA, signaling a short-term reversal in the BTC price trend.

As previously noted, Bitcoin’s price action is forming a double-bottom reversal, and the current sideways movement reflects a battle at the neckline level.

Binance BTC Reserves Drop to Pre-2024 Bull Run Levels

Supporting the chances of a bullish recovery, Bitcoin (BTC) reserves on the Binance exchange have significantly dropped over the past few days. The current reserve stands at 579,545 BTC.

This level resembles those seen in January 2024 and during the Q1 2024 pullback phase. Given that history tends to repeat itself, Bitcoin will likely witness a surge similar to early 2024 when it surged from approximately $40K to $73K.  

Binance BTC reserve
Binance BTC reserve

BTC Price Targets

In case of a bullish closing above the $100,000 level, the Bitcoin price is likely to challenge the immediate resistance level of $102,557. On the flip side, a pullback below the 20 EMA line will test the 200 EMA at $96,427. 

Shiba Inu Lead Endorses These 25 Crypto Predictions for 2025

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Shiba Inu lead developer Shytoshi Kusama endorses bold 2025 crypto predictions from Binji Pande, an Optimism developer and former product manager at Coinbase.

In a post on X, Pande shared a set of predictions for the crypto industry in 2025. He highlighted transformative changes that could redefine the space.

Specifically, Pande outlined 25 key forecasts in the tweet, covering everything from token economics to AI integration and governance. Shiba Inu’s Shytoshi Kusama showed endorsement of the forecast by calling public attention to it.

DEXes Volume Will Surpass CEXes

One of the top predictions is the surge in block space demand, which Pande expects to increase tenfold in 2025. The widespread adoption of decentralized platforms will likely drive this growth.

In parallel, he predicted that in 2025, there would be at least one occasion when decentralized exchanges (DEXes) would flip centralized exchanges (CEXes) in 24-hour trading volume.

Projects to Eschew Speculative Models

Pande also anticipates significant changes in the way tokens are valued. According to him, most tokens will be forced to adopt value accrual mechanisms, moving away from speculative models reliant on seigniorage or phantom value.

This change could lead to a more sustainable crypto ecosystem where long-term utility drives token growth.

Cross-chain Interoperability and Web2 Airdrop

Meanwhile, cross-chain interoperability is another area that is set for a breakthrough in 2025. Pande predicts that cross-chain tokens will finally deliver on their promise of seamless interaction between different blockchain networks. 

Alongside this, he expects Web2 airdrops powered by Zero-Knowledge Token Layer Signatures (ZKTLS) to become a common practice. This would blend the traditional web with the decentralized future.

Furthermore, Pande projects that the rise of proof of personhood will address growing concerns over bot-driven ecosystems. At the same time, decentralized autonomous organizations (DAOs) will become more accessible and efficient. Recall that Shiba Inu currently eyes a DAO.

Pande also forecasts a pivotal role for community coins like memes and AI tokens. He expects them to transition into serious infrastructure plays with a strong focus on community-first infrastructure. The Shiba Inu ecosystem is already driving this push.

Crypto Revenue in Fortune 500, Stablecoin to Outpace PayPal

Furthermore, Pande predicts that blockchain-based revenue will become a key line item for over 10 Fortune 500 companies. Moreover, he foresees a surge in crypto cards, which will cater to digital nomads and travelers, facilitating easier cross-border payments.

Pande suggests that nation-states will begin accumulating ETH, marking a new era of institutional involvement in Ethereum.

At the same time, he expects stablecoins to outpace PayPal’s transaction volumes by 40-fold in 2025. He sees stablecoins becoming the backbone of outsourcing and contractor payments in the tech sector.

With so many innovations on the horizon, Pande’s predictions paint an optimistic picture of the crypto industry in 2025. However, he also warns that the space may experience significant governance disputes and a black swan event that will remind the community of the importance of decentralization.

“You Will Make It”

In closing, Pande presented a motivational note, stating, “You will make it.” This reminds crypto stakeholders that the future of crypto is wide open, and there’s room for established players and newcomers to thrive.

Japan Won’t Follow US to Establish Strategic Bitcoin Reserve, Says Cryptos Aren’t Foreign Exchange

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The Japanese federal government expresses caution about incorporating Bitcoin or any other crypto asset into its foreign currency reserves. 

The government recently stated this position while responding to a query from Satoshi Hamada, a member of Japan’s House of Councilors. In a recent letter, Senator Hamada quizzed Japan’s federal government about the United States’ plan to establish a strategic Bitcoin reserve. 

The senator urged the government to consider following the United States and other countries in adopting Bitcoin as part of its foreign currency reserves. 

Japanese Government Cautious About Creating National Bitcoin Stockpile 

Responding to the query in a letter seen by local media outlet CoinPost, the government emphasized that it does not sufficiently understand the U.S. Bitcoin reserve plans. 

Additionally, it stated that cryptocurrencies, like Bitcoin, cannot be categorized as foreign exchange based on legal frameworks for special accounting operations. 

According to the government, the current reserves are strategically positioned to stabilize foreign currency-denominated assets and foreign currency bond markets. 

Furthermore, the government expressed concerns about the volatility associated with cryptocurrencies, which is inconsistent with the current system’s priority for the security of the foreign reserve. 

Bitcoin Reserve Discussions Spike

Discussions about Bitcoin reserves have been gaining momentum in recent times. This comes after U.S. President-elect Donald Trump revealed that his administration will establish a strategic Bitcoin reserve, which could be used to pay off the country’s debt. 

Interestingly, Trump’s plan to set up a Bitcoin reserve prompted pro-Bitcoin Senator Cynthia Lummis to propose a Bitcoin Act Bill that requires the country to purchase 1 million BTC over the next five years. 

The bill proposes purchasing 200,000 BTC yearly, bringing the total to 1 million in five years. According to the proposal, the Secretary of State will hold the 1 million Bitcoin for 20 years without selling it. 

Since the bill’s introduction, several U.S. states, such as Pennsylvania, Ohio, and Texas, have indicated interest in launching their own Bitcoin stockpiles.      

Despite the growing debate about creating Bitcoin reserves internationally, Japan is not interested in pursuing such a measure. 

Dogecoin Still on Course for 600% Rally to $2.28, Analyst Insists

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Dogecoin is still on course to secure a 600% price increase from current levels, according to notable market analyst Javon Marks.

Over the past month, analysts have been harping on bullish expectations for Dogecoin (DOGE) in the current market cycle. These expectations do not appear to have been shaken by recent market uncertainty sparked by the Federal Reserve, as one analyst is doubling down on his prediction.

Nothing Has Changed

Prominent crypto analyst Javon Marks has asserted that nothing has changed about Dogecoin’s trajectory despite its recent 46% dip from highs of $0.48434.

In an X post on Wednesday, December 25, Marks asserted that DOGE was still on course to hit and surpass their $2.28 target he set at the beginning of the month, representing a 620% rally from current prices of $0.31687.

The analyst’s prediction bets on the doggy-themed meme coin replicating price action from previous bull market cycles. Using the Fibonacci expansion tool, Marks highlights that DOGE has typically surged from its bottom and extended beyond the 1.618 Fibonacci level in bull market cycles.

Javon Marks analysis of Dogecoins 2 week candle chart
Javon Marks analysis of Dogecoins 2 week candle chart. Source: Javon Marks

As highlighted by the analyst, in 2017, the meme coin surged to highs above $0.00748, aligning with the 1.618 Fibonacci level from a 2015 bottom of $0.00009.

In 2021, this pattern played out as the asset surged above the 1.618 Fibonacci level around $0.03912 to clinch its current all-time high of $0.73 from a 2020 bottom of $0.00168.

According to Marks’ analysis, the 1.618 Fibonacci level in DOGE’s current impulsive leg is around the $2.28 price point, suggesting a rally to this point and higher if history repeats itself.

Meanwhile, Marks is not the only analyst who suggests that DOGE’s bull market is still intact, citing historical price action. Prominent analysts Javier Santini and Ali Martinez have expressed similar views over the past few days, setting even more ambitious targets of $4 and $18, respectively.

Thailand Teases Bitcoin Adoption with Pilot Payment Program

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Thailand could become the next country to foray into Bitcoin payment after considering a proposal to launch a pilot program.

With most countries turning to cryptocurrencies as a means of settlement, Thailand could become the latest to adopt the nascent asset. According to Bangkok Post, a local Thai news outlet, the Asian country is considering launching a pilot Bitcoin payment platform.

The report confirmed that Thailand is considering the proposal its former prime minister, Thaksin Shinawatra, brought forward. The initiative would see Thailand enhance its competitiveness in the global landscape by allowing tourists to make payments using cryptocurrencies.

Pilot Program Attracts Binance

Notably, the proposed Bitcoin payment program has received support from Binance’s Thai subsidiary, Gulf Binance. The exchange’s CEO, Nirun Fuwattanankul, endorsed the pilot program, could be tested in Phutex City, a notable tourist attraction in the country.

Fuwattanankul insisted that the Phutex Bitcoin payment sandbox program is a positive step for the crypto industry and Thailand. Furthermore, the initiative demonstrates Thailand’s commitment to evolving with technological advancements.

However, a significant constraint persists. The Bank of Thailand, the nation’s central bank, prohibits using cryptocurrencies as a payment method. 

Thailand operates under a restricted currency system, which gives the central bank control of the means of settlement. Hence, the central bank sees digital asset payment as a ploy to deflect its ability to monitor the financial system and protect residents from bad actors. Meanwhile, the country’s Securities and Exchange Commission (SEC) regulates crypto assets.

As a result, the Bitcoin payment pilot program hinges on close collaboration between the Bank of Thailand and the SEC. The partnership would establish a framework for Thailand to embrace the emerging sector’s payment solutions.

Escalating Crypto Adoption

Notably, Thailand’s proposed foray into Bitcoin payment mirrors a broader warmth towards the sector. Countries worldwide are beginning to adopt Bitcoin as a store of value and a means of decentralized settlements.

For context, Russia recently confirmed the use of cryptocurrency as a means of cross-border payment despite Western sanctions. The world’s largest country by land mass has also allowed Bitcoin mining and is considering adopting the asset as a strategic reserve currency.

Other countries, including the United States, Canada, and Brazil, are also warming towards Bitcoin. The pioneering cryptocurrency surged to $108,000 earlier this month, spurred by US President-elect Donald Trump’s endorsement.

Analyst Says Buy XRP Now as XRP Shorts Will Face Liquidations by Friday

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Market commentator Crypto Bitlord advises market participants to buy XRP now ahead of a potential development expected on Friday.

According to him, those betting against XRP’s uptrend—known as short sellers—will likely be liquidated by tomorrow. Confident in his forecast, Bitlord even challenged community members to screenshot his bold claim and check later to see if it came to fruition.

“When it comes to XRP, I’ve never been wrong,” he proudly declared. In parallel, he urged market participants to buy XRP now or risk missing out on the current low prices.

At press time, XRP trades at $2.24, a 2.2% discount from the higher price it sold the day before. This decline has further worsened its weekly performance, showing a negative growth of 4.2% over the last seven days.

While Bitlord is confident that a price reversal could happen as soon as tomorrow, he provided no explanation for the factors driving his optimism about XRP’s price action heading into the weekend.

However, there is a significant event that could influence market movements: a record $14 billion worth of Bitcoin options will expire on Deribit this Friday.

Record $14B Options Expiry from Bears

This expiry, the largest ever on the exchange, has drawn attention due to its potential to trigger a market reaction. The put-call ratio for these Bitcoin options stands at 0.69. This indicates a relatively higher open interest in calls, which suggests that the market is positioned for bullish sentiment.

If Bitcoin experiences volatility during this event, it could trigger a similar reaction in XRP, potentially contributing to the price movement Bitlord anticipates. However, this remains speculative and unconfirmed.

Another potential reason for Bitlord’s optimism is XRP’s tendency to experience bull runs over weekends.

XRP Previous Weekend Bull Runs

In November, the asset saw significant price increases during weekends while consolidating during the week.

For instance, on Thursday, November 7, XRP traded at a low of $0.5384, but by Monday, November 11, it had risen to $0.63. While it continued its upward momentum during the week, it faced pullbacks.

Accordingly, XRP traded at a low of $0.6844 on Thursday, November 14, but broke the $1 mark by the weekend, eventually reaching $1.25 by Saturday, November 16.

After a brief consolidation, XRP’s bull run resumed the following weekend, reaching $1.62 on Sunday, November 23. XRP broke the $2 range during the subsequent weekend, maintaining the trend into the week before ultimately losing momentum, topping out at $2.90 by December 3.

Critics Disagree with XRP Weekend Bull Run

While Crypto Bitlord is confident that a turnaround is imminent this weekend, other market watchers are skeptical. 

One commenter challenged Bitlord, stating that his short position would remain intact every Friday for the next three months. This suggests he does not believe an XRP bull run will emerge anytime soon. 

This critic even predicted a major XRP sell-off on January 1, opposing the widespread belief that the first week of the year could be promising for the fourth-largest altcoin.

Analyst Predicts XRP Market Cap Surge Against BTC and ETH to $1.56T

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XRP market cap could be on the verge of a major breakthrough, which would see it outperform market leaders Bitcoin and Ethereum.

This is according to market analyst EGRAG Crypto. Notably, in his latest analysis, he presents predictions suggesting XRP market cap dominance could push the token’s valuation up to $1.56 trillion, corresponding with a price of $27.2.  

The analysis revealed that XRP market cap dominance, currently at 3.93%, is likely to surge. EGRAG noted that XRP has surpassed the Fibonacci 0.382 level and is moving toward Fibonacci 0.5 at 5.57%. If it breaks this level, the path to double-digit dominance could unfold.  

XRP Market Cap EGRAG Crypto
XRP Market Cap | EGRAG Crypto

Meanwhile, recall that Ripple CEO Brad Garlinghouse previously projected a $5 trillion total crypto market cap. While he anticipated this milestone by the end of 2024, recent market corrections have delayed this timeline. 

The current total crypto market cap stands at $3.41 trillion, leaving ample room for growth. EGRAG believes this figure could rally to a peak of $5.42 trillion (Fib. 1.414) or even up to $7.25 trillion (Fib. 1.618), with XRP taking up a large chunk of it.

XRP Market Cap Dominance Scenarios

He then presented several XRP market cap dominance levels and corresponding valuation scenarios for the altcoin. These levels could push XRP’s price to a range of $10.8 to $27.2.

If the total crypto market cap reaches $5.42 trillion and XRP boasts an 11.44% market dominance, XRP could command a valuation of $619.61 billion. This would translate to a price of $10.8. 

However, should the global crypto market cap expand further to $7.25 trillion, XRP’s valuation at the 11.44% dominance level would rise to $828.80 billion, pushing its price to $14.5.  

Meanwhile, a higher dominance level of 15.22% would elevate XRP market cap to $824.68 billion if the total crypto market cap sits at $5.42 trillion. This would bring the token’s price to $14.4. If the crypto market cap grows to $7.25 trillion, XRP’s valuation could reach $1.10 trillion, with a corresponding price of $19.2.  

Nonetheless, the most ambitious scenario involves XRP achieving 21.5% dominance. Under this condition, a $5.42 trillion total crypto market cap would result in an XRP market cap of $1.16 trillion, pricing the token at $20.26. 

However, if the global crypto market cap hits $7.25 trillion, XRP market cap could climb to $1.56 trillion with the 21.5% market dominance, equating to a price of $27.2. Interestingly, EGRAG has persistently predicted that XRP has the potential to reach the $27 level.

Reasons Behind Bullish XRP Outlook 

Notably, the ultimate prediction of a 21.5% market dominance still falls below XRP’s all-time peak dominance. During the 2017/2018 bull cycle, XRP’s dominance skyrocketed from 1.44% in January 2017 to a top of 31.33% by May 2017.

EGRAG noted several reasons why he expects a similar upsurge. For one, a smaller market cap allows XRP to grow more rapidly than BTC and ETH, making it a prime candidate for higher multipliers during a bull market. 

Also, the analyst stressed that the Visible Range Volume Profile (VRVP) shows a gap above 4.30%, indicating minimal resistance and a smoother path for XRP to reclaim its all-time high and beyond. With its 3.93% dominance, XRP currently trades for $2.24.

Shiba Inu Lead Teases Potential Launch of New Projects, Says Community ‘Will Need a Much Longer Checklist’

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Shiba Inu lead developer Shytoshi Kusama teases the potential launch of new and exciting projects, creating anticipation among SHIB holders.  

The latest teaser comes following the launch of SHIB: The Metaverse early access. Shiba Inu community members took to X to celebrate the feat in style. While some users focused on the metaverse project, others used the opportunity to outline a checklist of major accomplishments within the Shiba Inu ecosystem this year. 

Highlights of Shiba Inu Accomplishments 

In particular, a SHIB enthusiast who goes by the pseudonym “Go Forward Crypto” shared a checklist containing accomplished projects and partnerships within the Shiba Inu ecosystem. 

They include the launch of Shibarium and its integration with top blockchain wallets and exchanges, Shiba Eternity’s transition to the L2 blockchain, SHIB: The Metaverse early access launch, and the launch of ShibaSwap 2.0. 

Other projects include the launch of the Shibarium burn portal ShibTorch, Shiba Inu tokens’ integration across 12 blockchains through the Chainlink partnership, and other partnerships. Notably, the user shifted focus to Shiba Inu’s plans, asking Kusama what innovations are planned for next year. 

Kusama Says More Projects and Initiatives in The Offing 

Interestingly, the Shiba Inu leader indicated that the community member will need a much longer checklist than the one highlighted. Kusama’s commentary teases the possibility of more partnerships, innovation, and projects that the team is working on to potentially unveil by 2025. 

More Surprise in Store 

Notably, the enigmatic Shiba Inu leader issued a similar comment yesterday following the launch of SHIB: The Metaverse early access. 

In an X post, Kusama noted that the Shiba Inu ecosystem team still has more ‘surprises in store’ for the community, hinting at ongoing developments of new projects. He emphasized that the SHIB: The Metaverse launch is ‘just the first of many things coming soon.’ 

However, he did not reveal the nature of the upcoming projects or potential partnerships the community should expect. 

Upcoming Shiba Inu Projects 

In the meantime, the community is anxiously anticipating the launch of several Shiba Inu-related projects, including TREAT. The token has been in development for over two years and has yet to launch for public use. 

As reported earlier, the team sold some portions of the token to venture capitalists (VCs) as part of a $12 million fundraiser for the development of a Layer-3 blockchain. 

Despite making necessary preparations for the TREAT launch, including creating an official X account for the token, the team has yet to announce a date for its public release.  

Additionally, the team is also developing an L3 blockchain, which is expected to be released soon alongside the TREAT token. Shiba Inu’s upcoming stablecoin, SHI, is another project the community is anticipating. 

Furthermore, the community is anticipating the mainnet launch of top Shiba Inu projects, including Shiba Eternity.  

Bitcoin Traders Flip Bullish After Christmas Jump: Is $110K Finally Within Reach?

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Bullish sentiments around Bitcoin appear to be flipping bullish following the latest recovery push from the industry firstborn.

Bitcoin, the leading crypto by market cap, has had a woeful showing over the past week amid market uncertainty sparked by statements from the Federal Reserve. But as the Christmas holiday festivities swing into high gear, the asset has shown flickers of strength, stirring optimism of a run to new highs at a potentially psychologically important level.

Bitcoin Traders Flip Bullish

On Christmas day, December 25, 2024, Bitcoin surged to highs just above $99,900 to cap off a 7% rally from Christmas Eve lows around $93,500.

Following the strong performance, traders are again significantly optimistic about the asset’s price in the short term, at least according to Santiment Feed data.

On Thursday, December 26, the prominent crypto analytics firm shared data showing that predictions that Bitcoin was on its way to clinch the $110,000 price point again flooded social media platforms with social dominance spiking from 0 to a high 0.056 per the analytics firm’s scale.

Is this psychologically important level finally within reach?

A Potential Contrarian Indicator

Despite the optimism, Santiment Feed warns that historically, the rally typically comes when the crowd does not expect it. To be sure, the chart shared by Santiment Feed on Thursday shows that Bitcoin price corrections have followed previous spikes in these $110,000 calls.

Chart showing dominance of Bitcoin price mentions across social media
Chart showing dominance of Bitcoin price mentions across social media. Source: Santiment Feed

Specifically, on December 15, calls that Bitcoin would hit $110,000 spiked as the asset hit $106,000. However, the price eventually topped out at $108,000 and reversed course.

Similarly, on December 18, $110,000 Bitcoin price predictions picked up again as the asset traded at $104,000, but these hopes were dashed following the Fed’s projection of fewer than expected interest rate cuts in 2025.

The asset tumbled from highs around $106,000 on the day to below the $100,000 price point and has languished there since.

At the time of writing, Bitcoin’s price appears to be facing rejection at the $100,000 price point again, as it has shed some of its Christmas gains to trade around the $98,000 price point.

As such, hopes of a Bitcoin rally to new highs in the short term may now depend on a potential Santa rally.