Home Blog Page 1054

Here’s How Much Holdings of 300M, 900M, and 1.5B Shiba Inu Would be Worth if SHIB Hits $0.000494 and $0.00632

0

Shiba Inu investors could make huge returns on their investment if SHIB surges to ambitious targets like $0.000494 and $0.00632. 

Shiba Inu has been struggling to recover from the recent downturn plaguing the broader crypto market. The doggy-themed token has lost 10.21% of its value over the past 30 days, with its price crashing to $0.00002095 yesterday. 

However, it rebounded above the $0.000022 mark, with a token currently priced at $0.00002214 at press time. 

While many investors have chosen to sell off their SHIB assets, others see the recent dip as an opportunity to increase their holdings in the doggy-themed token. They anticipate a potential price spike to ambitious targets like $0.000494 and $0.00632. 

300M, 900M, and 1.5B Shiba Inu Value at $0.000494 and $0.00632

Amid this optimism, we estimated the value of a portfolio of 300 million, 900 million, or 1.5 billion Shiba Inu tokens if SHIB reaches these ambitious targets. 

Value of 300M, 900M, and 1.5B Shiba Inu Tokens If SHIB Hits $0.000494 

At the current price of $0.00002214, investors can procure 300 million, 900 million, and 1.5 billion SHIB at $6,642, $19,926, and $33,210, respectively. 

The value of this investment will spike significantly if SHIB’s price surges by 2,131% to $0.000494 per token. Specifically, the 300 million tokens will be valued at $148,200 if SHIB eventually hits the $0.000494 target. 

Similarly, if the $0.000494 target becomes a reality, the 900 million and 1.5 billion SHIB portfolios will be worth $444,600 and $741,000, respectively. 

Worth of 300M, 900M, and 1.5B SHIB Tokens at $0.00632 Target 

As stated earlier, acquiring 300 million, 900 million, and 1.5 billion Shiba Inu tokens requires initial investments of $6,642, $19,926, and $33,210, respectively, based on the current price of $0.00002214. 

However, this investment will soar tremendously if SHIB increases to $0.00632, reflecting a 28,445%.surge from the current price. If this target materializes, the portfolio value of 300 million Shiba Inu will rise to $1.89 million, 900 million SHIB to $5.68 million, and 1.5 billion SHIB to $9.48 million. 

Can Shiba Inu Hit $0.000494 and $0.00632? 

The ambitious targets of $0.000494 and $0.00632 require SHIB to embark on jaw-dropping rallies of 2,131% and 28,445%, respectively, from the current price. 

Given the hefty growth rate required for this surge, investors are skeptical about whether these predictions will come true. However, several analysts have forecasted that Shiba Inu will soar to these price levels in its lifetime. 

While Changelly analysts speculate that Shiba Inu will soar to $0.000494 by April 2033, they expect the token to clinch the $0.00632 target seven years later, specifically in June 2040. 

Shiba Inu to $0.0004 and $0.006 Forecasts 

Besides Changelly experts, other crypto analysts still believe Shiba Inu will rally to the $0.0004 and $0.006 territories in the future. 

Earlier this month, popular market observer CryptoELITES forecasted that SHIB will rise to $0.000472 before the end of the 2024/2025 bull run. In October, another trading expert, Cantonese Cat, referenced several trading indicators to predict Shiba Inu’s potential surge to $0.00047. According to the expert, Shiba Inu might achieve this milestone in the ‘near term’

Earlier this year, Crypto Basic projected that Shiba Inu could witness a post-halving gain of 30,385% to $0.0065329 if it replicates its previous performance during the 2020 halving event. 

7 Reasons Why XRP Can Outperform Apple, Nvidia by 10X, According to Top Wealth Mentor

0

In her latest weekly newsletter, renowned wealth mentor Linda Jones shared an optimistic outlook for digital assets like XRP. 

Specifically, she predicted that crypto assets could outperform major tech stocks like Apple, Alphabet, Google, Tesla, Meta, Amazon, and Nvidia by as much as 10x. Jones attributes this potential surge to several key factors shaping the future of digital assets.

Early Tech Cycle Advantage

According to Jones, digital assets are still in the early stages and are spearheading a new technology cycle, much like how the internet revolutionized communication. She believes digital assets, including XRP, are set to transform money and asset tokenization, paving the way for significant growth.

Record-Breaking Performance

Jones also pointed out that crypto assets are the best-performing asset class in history, making them an attractive option for forward-thinking investors. A recent study from CoinGecko further supports this observation.

It revealed that Bitcoin has seen an astonishing growth of 26,931% over the past ten years. XRP, too, has experienced a remarkable ten-year upside of 35,310%. Meanwhile, gold and stocks lag significantly behind, with gains of only 193% and 125%, respectively.

Untapped Market Potential

Another compelling reason for Jones’s bullish stance on crypto assets is their current low rate of adoption and untapped market potential. She noted that only 5% of people worldwide have invested in digital assets, signaling massive untapped growth potential.

Retail Advantage Over Institutions

Jones also highlighted that retail investors currently have an edge over institutional players. According to her, regulatory hurdles prevent institutions from significantly entering the crypto space. However, with crypto and stablecoin regulations anticipated in early 2025, institutional capital could flood the market.

Tax-Free Gains on the Horizon

Another enticing point cited by Jones is U.S. President-elect Donald Trump’s proposal to make capital gains on U.S.-based digital assets tax-free. This policy could attract significant investment into American projects like XRP and Cardano (ADA) if implemented.

Pro-Crypto Leadership

Jones further noted that the appointment of David Sacks as the Crypto and AI Czar, a known advocate for crypto, strengthens the favorable environment for digital assets. Sacks, a PayPal alum and prominent angel investor, brings pro-crypto energy to the administration, potentially accelerating supportive initiatives.

A Crypto-Friendly Congress

Lastly, Jones cited that the U.S. Congress is predominantly pro-crypto for the first time. This creates an environment conducive to regulatory clarity and growth for projects like XRP.

2025: A Defining Year for XRP

Ultimately, Jones believes 2025 will be a breakout year for digital assets, including XRP, as the regulatory framework solidifies and investor confidence soars. Other industry commentators, including the Bitstamp exchange, have publicly expressed that 2025 will be the year XRP makes history.

Highlighting PNUT And Notcoin: Cryptos To Watch

0

Launched just last month, PNUT is the latest meme coin to make waves with strong growth metrics but it faces stiff competition from Notcoin and 1FUEL, the viral cryptocurrency presale winning over whales from across the marketplace. Read on to find out why the privacy-focused cryptocurrency is tipped to gain 1091%.

PNUT is shaping up to follow in the footsteps of meme coin OGs like DOGE and SHIB

Despite only launching in November, PNUT is already cultivating a reputation as one of the cryptos to watch going into 2025. PNUT prices have soared in the last month, rising from $0.054 at launch to an all-time high of $2.47 on 14 November.

Further highlighting its potential, PNUT raced above a $1 billion market cap within a few weeks of its launch. PNUT is listed on multiple exchanges and is garnering significant viral social media attention – a strategy that Dogecoin has successfully used to push its prices higher and maintain support. As of 18 December, the PNUT price has dropped back from its ATH to $0.6225 but the sentiment is still bullish.

While there’s no doubt that PNUT is one to watch, it faces competition from 1FUEL. Now in stage two of its cryptocurrency presale, 1FUEL is expected to deliver returns of more than 500% to early investors and could see prices rising by more than 1091%.

Meme coin Notcoin is also showing price potential

The meme coin Notcoin is also showing price potential as we approach the end of 2024. Launched in May, it rose to $0.029 in June, making gains of more than 294%. One of the reasons that Notcoin stands out as a coin to watch next year is its pursuit of strategic partnerships. It recently paired with Helika Gaming to launch a Telegram Gaming Accelerator. This tactic is intended to increase Notcoin adoption – which should see prices move higher.

Notcoin has also launched a new ‘Earn’ feature which incentivizes users by allowing them to earn interest on locked tokens. Experts believe that this could be a game changer for Notcoin prices. Some say that if the Earn feature takes off, Notcoin prices could rise by as much as 100x.

Notcoin isn’t the only coin that is expected to deliver triple-digit gains and above. The privacy-focused cryptocurrency, 1FUEL is expected to give early investors returns of more than 500%, currently in stage two of its cryptocurrency presale. Experts expect at least 100x returns on public launch. Some analysts are already projecting gains of 1091%.

1FUEL is a top contender for the title of best cryptocurrency to buy in 2025

1FUEL’s cryptocurrency presale is already winning over whales at a lightning pace thanks to one unprecedented feature: the ability to perform one-click, cross-chain transactions safely, securely, and without extensive prior technical or crypto knowledge.

1FUEL’s secure digital wallet makes the process of making cross-chain transactions easy. All that’s required is a coin selection. From there, 1FUEL takes care of the complexity, handling everything from navigating multiple wallets and exchanges to ensuring cost efficiency and faster transaction speeds. The advanced AI-powered system, secure peer-to-peer trading, and high levels of interoperability are paired with high levels of privacy and security.

Be a part of the future of crypto

Don’t miss your chance to be a part of one of the standout success stories set to shape crypto in 2025 and beyond. The 1FUEL presale is happening right now and is your chance to be part of something that is set to redefine crypto for good.

Elon Musk Reacts to Talks of SBF Receiving Presidential Pardon

0

Recent speculation on X has ignited discussions about the possibility of Sam Bankman-Fried (SBF), the embattled FTX founder, receiving an early pardon from the outgoing President Joe Biden.

The conversation gained traction when widely followed influencer Wall Street Mav tweeted, “The second-largest donor to the Democrats might receive an early pardon from President Biden,” referring to SBF.

Elon Musk Reacts

The tweet has garnered over 1.1 million views, attracting commentaries from various prominent figures like Elon Musk.

In response to the speculation, Musk remarked that the real surprise would be if the rumor were untrue. “I will be shocked if this doesn’t happen,” he stated.

Musk’s comment aligns with his skepticism toward the current administration. A vocal critic of several policies and decisions by the Biden administration, Musk has frequently expressed his distrust.

Notably, during the recent presidential election, Musk openly supported the opposition, led by Donald Trump, who ultimately secured the presidency. Trump will take office next month, promising significant policy shifts from the outgoing administration.

Bankman-Fried Crimes

Notably, Bankman-Fried orchestrated a multi-billion-dollar fraud involving misappropriating customer funds. He faced charges including wire fraud, securities fraud, commodities fraud, money laundering, and campaign finance violations. 

He received a sentence of 25 years in prison in March 2024, in addition to three years of supervised release, with the judge ordering him to forfeit $11 billion.

Now, due to his strong ties with the ruling class, particularly through his campaign donations, speculation is circulating in the crypto community that he could receive an early pardon.

Can President Biden Pardon SBF?

The U.S. president has the constitutional power to grant pardons for federal offenses. They include those related to drug offenses, financial crimes, tax evasion, and other violations of federal law.

Since SBF faced conviction for orchestrating a fraud involving the misappropriation of customer funds and other crimes under U.S. federal law, he would be eligible for a pardon.

Meanwhile, despite the online chatter, prediction markets paint a different picture. Polymarket, a decentralized platform for trading on real-world events, places the probability of President Biden pardoning SBF at only about 5%. This suggests that most market participants view this as a long shot.

Notably, just two weeks ago, President Joe Biden granted clemency, which included pardons for 39 individuals and reductions of sentences for 1,499 others.

How Key Ethereum Metrics Are Flashing Green Despite Price Correction

0

The Ethereum market still witnesses several bullish metrics despite previous struggles and the latest ongoing pullback.

Ethereum‘s price struggles in recent years have been well documented, from underperforming Bitcoin and Solana in 2023 to failing to match their run to new all-time highs in 2024. Despite these struggles and a recent price correction, a CryptoQuant report suggests that key metrics continue to paint a bullish outlook for the altcoin.

A Bullish Ethereum Storm Brewing?

Over the past week, Ethereum’s price has dropped about 19% from highs around the $4,100 price point to trade around $3,300 at the time of writing amid a market wipeout led by the Federal Reserve’s hawkish pivot.

Still, Ethereum’s outlook remains significantly positive, at least according to a Monday, December 23 CryptoQuant report. Per the report, several key Ethereum metrics continue to paint a bullish picture of the asset. 

Estimated Leverage Ratio

One such metric is the estimated leverage ratio. The ratio measures the balance of open interest in futures contracts on an exchange to its balance to determine the amount of leverage in a market. It can often help investors to gauge risk appetite.

According to CryptoQuant’s report, Ethereum’s estimated leverage ratio remains near record highs at around 0.53, signifying a strong risk appetite among investors.

Ethereum estimated leverage ratio chart
Ethereum estimated leverage ratio chart: CryptoQuant

The high-risk appetite amongst investors suggests they are not looking to reduce exposure to the asset.

Funding Rates

Beyond the estimated leverage ratio, the recent CryptoQuant report highlighted funding rates as another key Ethereum metric flashing green.

Funding rates refer to a payment exchanged between perpetual contract holders designed to incentivize price stability by keeping the futures market price close to the spot price.

Notably, funding rates are positive when the futures contract price is higher than the spot price, with long traders paying short traders. On the other hand, funding rates are negative when the contract price is lower than the spot price, with short positions paying longs.

CryptoQuant highlighted that Ethereum’s funding rate is moderately positive at 0.01, highlighting the potential for continued price growth with minimal liquidation risk.

Ethereum funding rate chart
Ethereum funding rate chart. Source: CryptoQuant

Positive funding rates signify bullish market sentiment as it suggests that long traders are willing to pay a premium to hold their contracts.

Korea Premium Index

Another metric signaling bullish Ethereum momentum, according to CryptoQuant, is the Korea Premium Index.

The Korea Premium Index measures the difference between prices on Korean exchanges and other regions. It is often used as a yardstick to measure retail interest, as Korea is known for its large number of retail traders.

Retail interest is believed to be high when this index is at a premium and low when it is at a discount. The CryptoQuant report highlights that Ethereum’s Korea Premium Index is at a substantial premium, suggesting high retail interest.

Ethereum Korea Premium Index chart
Ethereum Korea Premium Index chart. Source: CryptoQuant

However, it is not only retail investors that appear interested in Ethereum at current prices.

Ethereum Fund Holdings on the Rise

The final metric cited by CryptoQuant in its recent report is the balance of Ethereum on global funds, including spot Ethereum ETFs.

The crypto analysis platform shared a chart indicating that this metric has been rising since November 2024 and has not plummeted despite the recent market dip. This suggests confidence in Ethereum’s potential among institutional investors.

Ethereum fund holdings chart
Ethereum fund holdings chart. Source: CryptoQuant

MicroStrategy Bags 5,262 Bitcoin Worth $561M, Takes Holdings to 444,262 BTC

0

Business intelligence firm MicroStrategy has further augmented its Bitcoin bag with a much-expected 5,262 BTC purchase on Monday.

MicroStrategy’s chairman, Michael Saylor, confirmed the latest acquisition in a tweet on Monday. The software development firm extended its weekly acquisition streak by purchasing 5,262 BTC ($561 million).

According to the announcement, MicroStrategy bought the bitcoins at an average price of $106,662 per coin, bringing its total to 442,262 BTC ($42 billion).

MicroStrategy Extends Its Weekly Bitcoin Purchase Streak

Meanwhile, MicroStrategy has announced Bitcoin acquisitions for seven consecutive weeks as its appetite for the premier asset reaches insane levels. The firm resumed the streak on November 11 with a purchase of 27,200 BTC ($2.03 billion) and has accrued 192,042 BTC since then.

MicroStrategy’s Bitcoin average cost now stands at $62,226, with the firm spending $27.64 billion to acquire its 442,262 BTC. This indicates that the pro-Bitcoin firm has a lifetime portfolio unrealized profit of $14.57 billion.

Notably, the crypto community expected the Monday announcement. Enthusiasts have uncovered a trend in which Saylor mentions a desire to add new dots to MicroStrategy’s portfolio tracker before making a buy announcement the following day.

Saylor’s MicroStrategy Vigorously Pursues Endgame

According to the announcement, MicroStrategy realized the funds used to buy the Bitcoin from share sales. The firm sold an aggregate of 1,317,841 class A common stocks to bonafide investors to raise $561 million.

Meanwhile, MicroStrategy disclosed that it still has more shares to auction. As of Dec. 22, it stated that $7.08 billion worth of class A shares were available for issuance and sales pursuants.

The debt leverage aligns with MicroStrategy’s endgame of ultimately becoming a Bitcoin bank. Saylor mentioned the plot earlier, noting it would become a bank that borrows money to buy Bitcoin rather than lend its stash out.

In the meantime, MicroStrategy has achieved a BTC yield of 47.4% and 73.7% on a quarter-to-date and year-to-date basis, respectively. Moreover, the MSTR stock has corrected 3.28% in the past 24 hours, mirroring Bitcoin’s choppy run.

Analyst Says XRP New Cheap Entry Price Is $2, Expects $3 and $5 Sooner Than Anticipated

0

Market commentator BarriC shares an optimistic forecast for XRP, stating that market participants will soon view $2 as the new “cheap entry point” for the cryptocurrency.

BarriC expressed this sentiment in a tweet, highlighting bold price predictions and various timelines for when these outlooks could materialize.

$3 XRP: Coming Sooner Than Expected

First, the analyst shared that XRP could reach the $3 mark much quicker than most analysts anticipate. The $3 level has been a major barrier for XRP for some time. It attempted to break this level earlier this month but stumbled at $2.90. Since then, it has retraced to the $1.90 level twice.

Currently, XRP is trading at $2.18, and reaching $3 would only require a 38% surge. As a result, commentators like BarriC believe the target is within reach.

$5 XRP by Early 2025

Meanwhile, BarriC predicts that XRP will hit the $5 mark by early 2025. This prediction suggests a continued upward trend in the price of digital assets, drawing more attention from retail and institutional investors, as seen in November.

Notably, attaining $5 would require a 130% increase from current levels.

Interestingly, BarriC suggested that while market participants might expect a retracement when XRP reaches $5, he believes the asset will rally to $10 without a correction. A similar scenario unfolded last month when XRP first surpassed $1 for the first time in three years.

While many expected a pullback below $1, XRP went on to hit $2 without a major correction. It even maintained momentum and approached $3 as FOMO kicked in. BarriC expects a similar scenario to unfold again.

$2 XRP: A “Cheap” Entry Point in Retrospect

In the scenario where XRP is finally trading in the double-digit range, BarriC suggests that market participants will look back and realize that $2 XRP was a “cheap” entry point into the market.

In his view, those waiting for XRP to dip further may regret not taking advantage of current levels once the price rises. According to BarriC, by the end of 2025, when XRP could be trading in the $15-$20 range, looking back at $2 will feel like a missed opportunity.

While he predicts bold price levels in the $15-$20 range by 2025, he also acknowledges that XRP could exceed those levels in the heat of the bull market next year.

With the year coming to a close, BarriC indicates that explosive price movement for XRP could begin in the next three weeks.

Bitcoin, Ethereum and XRP Lead as Crypto Products See $308M Inflows Despite Market Slump

0

Crypto investment products saw decent capital inflows last week, with Bitcoin, Ethereum and XRP leading, despite the market turbulence.

For context, the crypto market is grappling with a major correction, with Bitcoin tumbling from its all-time high of $108,000 to the current price of $94,980. This drop has reverberated across the scene, bringing the global market capitalization down to $3.28 trillion. 

Hawkish remarks from Federal Reserve Chair Jerome Powell fueled bearish sentiment. Despite this downturn, the latest fund flow report from CoinShares confirms that crypto investment products managed net inflows of $308 million last week.

This resilience contrasts with sharp outflows of $1 billion during the final two days of the week, including $576 million on December 19 alone. 

Even with these withdrawals, weekly inflows remained positive, confirming investor optimism in leading assets like Bitcoin, Ethereum, and XRP. However, recent corrections shaved $17.7 billion off the total assets under management (AUM) for digital asset products.  

Bitcoin, Ethereum, and XRP Dominate Asset Flows  

Bitcoin emerged as the top choice for investors, recording $375 million in weekly inflows and $5.04 billion for the month. Ethereum followed, attracting $51.3 million over the week and $2.3 billion in December. Meanwhile, XRP secured $8.8 million in inflows for the week and $288.8 million for the month.  

Crypto Flows by Asset
Crypto Flows by Asset

However, multi-asset products suffered the largest weekly outflows of $121.4 million. This confirms a shift toward investments in individual crypto assets. Interestingly, Solana also recorded negative flows, with $8.7 million in weekly outflows despite positive reports around a staking ETP in Europe.

Investment Providers See Mixed Results  

Among providers, BlackRock’s iShares ETFs led with impressive weekly inflows of $1.59 billion and monthly inflows of $6.83 billion. In an interesting turn of events, BlackRock’s products were the only ones that recorded net inflows last week.

Crypto Flows by Provider
Crypto Flows by Provider

Notably, Fidelity ETFs led the weekly outflows with $293 million in net outflows but a positive $697 million for the month. CoinShares XBT and ARK 21Shares saw net weekly outflows of $44 million and $171 million, respectively.  

ARK 21Shares is also witnessing outflows in December, currently worth $149 million. Meanwhile, Grayscale Investments registered significant weekly outflows of $339 million, with monthly outflows amounting to $824 million.

Country-Specific Trends  

Regarding countries, the United States dominated investment flows, contributing $567 million in weekly inflows and $7.4 billion in December. 

Crypto Flows by Exchange Country
Crypto Flows by Exchange Country

Germany and Switzerland showed contrasting patterns. Notably, Germany saw outflows of $74.7 million last week but positive monthly inflows of $73.7 million. Switzerland recorded $95.1 million in weekly outflows but a $93.1 million inflow for the month.  

Canada and Sweden experienced significant weekly outflows, at $60.1 million and $42.3 million, respectively. Smaller markets, including Australia and Brazil, witnessed positive inflows of $10.2 million and $16.6 million for the week.  

Alliance Partners Reveal $60K as MicroStrategy Bitcoin Liquidation Price, but There’s a Catch

0

Partners at crypto accelerator resource Alliance express concerns around MicroStrategy’s Bitcoin liquidation event but overlook certain important details.

Over four years later, MicroStrategy‘s Bitcoin acquisition strategy continues to be a polarizing subject within the crypto space and broader financial circles.

Questions linger over how the company’s debt-backed Bitcoin purchases affect its health and whether they also pose a risk to the digital asset itself.

Debates around these questions have reached a fever pitch in recent weeks as the firm has ramped up purchases and unveiled plans to raise an additional $42 billion to buy Bitcoin in the next three years. 

In the latest instance, fears expressed by core contributors to leading crypto accelerator Alliance suggesting that the firm’s liquidation price may not be so far off and that such an event could lead to an outcome 100 times worse than Terra and FTX have surfaced. However, a key consideration appears to be missing from their analysis.

MicroStrategy Liquidation Price Around $60K?

Fears expressed by Alliance core contributors Imran Khan and Qiao Wang about MicroStrategy’s Bitcoin acquisition strategy in a November 27 episode of their Good Game podcast have recently made the rounds online, thanks to reporting from Wu Blockchain.

During the podcast, Wang asserted that Bitcoin could trigger a black swan event 100 times worse than Terra and FTX combined if it fell below the $60,000 price range, which he estimated to be MicroStrategy’s liquidation price for its now over 439,000 BTC worth over $42 billion purchased at an average price of $58,219 and backed by about $7.6 billion in loans.

For context, Terra and FTX are widely recognized as the two major collapses of the 2022 bear market. 

Bitcoin dropped as much as 30% at the peak of the Terra collapse chaos, from highs of around $36,124 to lows of $25,401. Also, during the FTX collapse, the asset wiped off nearly 37% in value, dropping from about $21,364 to a low of $15,632. As such, the statements from Wang have sparked significant concern amongst some, especially considering Bitcoin’s historical tendency to drop around 70% during bear markets.

However, there is one problem with Wang’s analysis: MicroStrategy has no forced liquidation price for its Bitcoin holdings.

Understanding MicroStrategy’s Debt Structure 

MicroStrategy’s Bitcoin holdings are purchased by loans obtained from convertible senior notes instead of traditional loans secured by collateral. Simply put, lenders do not hold any of MicroStrategy’s Bitcoin as collateral and do not have the right to seize any assets to force repayment of the loan.

Convertible payments only allow lenders to convert their debt to equity stake at an agreed future price before a set deadline or accept cash repayments on the loans if the deadline elapses and the note is not converted. Until conversion, however, lenders receive interest payments on their notes.

In the case of MicroStrategy, most of its outstanding notes have maturation dates far into the future, between 2027 and 2029, at very low interest rates.

In this structure, there is no set price for MicroStrategy to be required to sell its Bitcoin to cover loans, though the firm could consider doing so in an unforeseen case of a cascade of redemptions in a market panic or cash crunch.

Redemptions happen when lenders decide to accept repayment in cash instead of equity in a sign that they lack confidence in the company’s future potential or when the company fails to hit the share price target at the maturation of the note.

Dogecoin to $4: Expert Says Ongoing Correction is Expected, Sets Timeline for Breakout

0

A market expert presents a timeline for Dogecoin to break out of the ongoing correction, citing historical data.

This comes as the pullback triggers massive declines for the meme coin. For context, Dogecoin previously experienced a rally following the U.S. presidential election on Nov. 5. 

The election saw pro-crypto candidate Donald Trump secure victory, creating excitement in the crypto community. Dogecoin soared to $0.48 by Dec. 8. However, as the broader market faced corrections, DOGE has dropped 36% in just two weeks.  

Despite this downturn, analysts believe the correction is part of a healthy market cycle and expect a substantial rebound. Javier Santini, a market analyst and founder of Elemento Cripto, has analyzed Dogecoin’s historical patterns and expects an explosive rally soon. 

DOGE’s 1-Month Pullbacks

According to Santini, pullbacks in Dogecoin’s price below the previous cycle’s all-time high often last about a month before the token resumes its upward momentum. Santini shared Dogecoin’s weekly chart, revealing that the asset has consistently followed a unique pattern since 2017. 

Particularly, in January 2014, Dogecoin achieved an all-time high of $0.00232 before entering a correction phase that lasted until March 2017. During this period, the price dropped to as low as $0.00022. 

After breaking out in March 2017, Dogecoin saw another pullback that lasted for exactly a month before surging to a new all-time high of $0.0187 in January 2018.  

Following this peak, Dogecoin experienced another extended correction, forming a descending trendline. This trendline broke in December 2020, leading to another rally. However, a pullback that lasted for a month occurred again before Dogecoin skyrocketed to its most recent all-time high of $0.7390 in May 2021.  

Dogecoin Targets $4 after Breakout 

The current market behavior suggests a similar cycle may be underway. After breaking out of the latest descending trendline in the fourth quarter of 2024, Dogecoin posted a remarkable 161% rally in November. 

However, December has brought a correction that Santini believes will also last about a month. He expects Dogecoin to resume its uptrend in the coming week. The analyst sets a price target of $4, expecting it to materialize in a week or less.  

A rally of this magnitude would require Dogecoin to surge by an impressive 1,168%, considering its current trading price of $0.3253. Santini’s optimism comes from the consistent patterns Dogecoin has exhibited since its inception, with each breakout phase leading to new highs.  

Santini is not alone in his prediction. Another analyst, @Degengambleh, projected that Dogecoin could reach $4.20. The analysis highlighted a 1,000-day accumulation trend that has laid the foundation for a major rally. He noted this pattern when Dogecoin traded for $0.1713 in March 2024.

Dogecoin 1W Chart Degengambleh
Dogecoin 1W Chart | Degengambleh