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Vechain Hits 2-Year High of $0.07901, as Experts Set Timeline for Potential Surge to $0.1 

Lele Jima
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Vechain Hits 2-Year High of $0.07901, as Experts Set Timeline for Potential Surge to $0.1 

VeChain (VET) continues to rank among the major beneficiaries of the ongoing bull rally, as its price hits a two-year high of $0.07901.

VET’s price has surged by over 250% in the past 30 days, reaching a two-year high of $0.07901 in the early hours of today.

The last time VET hit this target was over two years ago when its price soared to over $0.08 in April 2022. However, VET’s price plunged shortly after, leaving the token to trade below the $0.07 level for more than two years.

Interestingly, VeChain finally broke the resistance today, as it surged to $0.07901. Although VET has dropped below the $0.072 mark since it achieved the milestone, the token is still up 253% over the past 30 days, 69.48% in the last week, and 6.3% in 24 hours.

Reason Behind VeChain Surge 

It bears mentioning that VeChain’s latest price surge coincides with the recent rally witnessed among large-cap altcoins. Assets like XRP, Cardano, Tron, and Dogecoin have recorded huge gains since November. 

For instance, while XRP surged to $2.85 on December 1 for the first time since January 2018, Tron hit an all-time high (ATH) of $0.4407 yesterday. 

Although VeChain did not set a new all-time high record like Tron, its price has surged more than threefold, from $0.01937 to a monthly high of $0.07901. 

VeChain Loses 27th Position in Global Crypto Ranking  

The asset briefly flipped Cronos and POL to become the 27th-biggest cryptocurrency by market cap earlier today after it surged to $0.07901. 

However, following its slight correction, it has dropped back to the 29th position in the global crypto ranking. At press time, VET boasts a market cap of $5.75 billion. Furthermore, VeChain’s volume has collapsed by 14.63% over the past 24 hours to $966.85 million.

Can VET Hit $0.1? 

Following VeChain’s recent surge, investors are closely observing whether it could hit the psychological mark of $0.1 in the near future. To do so, VET would need to soar by 40.82% from its current price of $0.07101. 

Data from market analytics platform Coincodex suggests that the $0.1 target for VET could become a reality by February 2025. Specifically, Coincodex expects VET to trade at an average price of $0.11 and a maximum price of $0.12 in the next three months. 

VeChain Price Prediction
VeChain Price Prediction

Furthermore, Telegaon expects VET to hit the $0.1 mark by next year, setting its minimum, average, and maximum price targets at $0.16, $0.31, and $0.54, respectively.

PancakeSwap Launches Protocol for Free Token Creation on BNB Chain

Elendu Benedict
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PancakeSwap Launches Protocol for Free Token Creation on BNB Chain

Popular decentralized exchange (DEX) PancakeSwap has announced the launch of a free token creator, mirroring those seen on Solana, Cardano, and Tron.

With demand for protocols that allow seamless token deployment on the rise, PancakeSwap has found the innovation appealing. Today, the decentralized exchange announced it has ventured into the innovation, launching a protocol that allows such on the Binance Chain (BNB Chain).

PancakeSwap Raises Free Deployment Antics

In a tweet today, PancakeSwap announced that its protocol, termed the PancakeSwap Springboard, would allow users to create tokens on the BNB Chain for free. Notably, other such existing platforms charge users certain amounts to launch their tokens.

For instance, Cardano’s Snek.fun charges 25 ADA for token creation, while Tron’s Sunpump requires a payment of around 20 TRX to launch a token. Meanwhile, Pump.fun recently shifted its launch fee to first buyers and even offers a 0.50 SOL reward for users who launch meme coins through the platform.

Notably, PancakeSwap’s free deployment antics would deepen the competition in the sector. The PancakeSwap Springboard also offers users multi-token pairings and liquidity boosts with CAKE.

No Coding, Automatic Liquidity Pool Integration

Furthermore, PancakeSwap mentioned that launching a token through the protocol does not require coding experience. The deployer is only required to choose the token name and ticker to create one on the platform.

The decentralized exchange also teased automatically adding the created token to a liquidity pool when it hits the required liquidity on the bonding curve. Following the launch, PancakeSwap will list the token on its DEX, allowing easy trading.

Meanwhile, the Springboard protocol is the first of its kind on the BNB Chain. A similar platform boosted the activities on the Solana and Tron networks, pushing their prices up significantly.

If the platform gains traction, BNB and PancakeSwap’s CAKE could be massive beneficiaries of the launch. Notably, the BNB Chain’s native token broke to a new all-time high of $793.86 today, while CAKE surged to an eight-month high of $4.515.

Dogecoin to Reach $3-$5, Expert Predicts Timeline

Abdulkarim Abdulwahab
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Dogecoin to Reach $3-$5, Expert Predicts Timeline

Analysts have weighed in on when Dogecoin could experience a substantial price growth, citing the potential for XRP profits to drive the surge.

Despite recent gains, Dogecoin has lagged in the ongoing bull run. Its closest rivals, like BNB and Solana, have broken their all-time highs from the last bull season, while Dogecoin has largely consolidated in the $0.40 range.

Meanwhile, analysts are increasingly projecting the end of Dogecoin’s ongoing consolidation phase. In a recent post, analyst Professor Astrones highlighted a timeline for when he expects Dogecoin to reach between $3 and $5.

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Dogecoin impending breakout chart by Professor Astrones

Timeline for Dogecoin to Hit $3 to $5

Astrones first emphasized that $1 is his most immediate projection for Dogecoin, which he believes will happen faster than many imagine.

From there, he expects higher levels to follow more easily. Specifically, according to Astrones, after breaking $1, Dogecoin could trade between $3 and $5 “very easily” by next year.

Dogecoin is currently trading at $0.4221, with a 2% gain over the past day. The meme coin’s price needs to grow by 610% to reach $3 and 1,082% to hit $5. 

According to Professor Astrones, the drivers of this projected Dogecoin rally will be the profits market participants are currently enjoying from XRP.

XRP Money to Flow into Dogecoin 

XRP’s price has doubled over the past seven days. With this action, investors holding XRP for the last 30 days are seeing a massive 422% profit.

Amid XRP’s explosive rally, Dogecoin has largely remained stagnant, hovering around the $0.40 price range. This has allowed XRP to surpass Dogecoin in market cap, now commanding more than double Dogecoin’s valuation.

Analysts now project that XRP’s bullish momentum may soon fade, similar to Dogecoin’s previous performance, creating an opportunity for the meme coin to regain dominance.

Dogecoin Mirroring XRP Pattern

Interestingly, other analysts, like Jacob Canfield, have drawn similarities between the candlestick patterns of XRP and Dogecoin. Canfield observed that Dogecoin’s current movement closely resembles that of XRP on shorter time frames. 

His analysis revealed the formation of higher lows, with Dogecoin maintaining previous resistance levels as new support. This pattern points to the possibility of continued upward momentum.

When Dogecoin Will Trigger a Meme Coin Frenzy

In a different analysis, Rekt Capital highlighted the formation of a daily ascending triangle for Dogecoin. The chart illustrates Dogecoin breaking out of the pattern with horizontal resistance above $0.4368.

Rekt Capital noted that a daily close above $0.43 is crucial for DOGE to validate the breakout, which took place shortly after. Meanwhile, he noted that a dip from this point would merely be a post-breakout retest. Upon successful confirmation, another meme coin frenzy could follow.

SUI Price Eyes New All-Time High with Flag Breakout Rally

Albert Brown
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SUI Price Eyes New All-Time High with Flag Breakout Rally

SUI has surged by 17.57%, breaking through the $3.64 resistance level. Can the bullish flag breakout lead to a new all-time high beyond $4?

As one of the rising altcoins in the crypto market over the past 24 hours, SUI has increased by 4.36%. With this price surge, the altcoin has reached a market cap of $10.99 billion.

The SUI breakout rally is edging closer to a new all-time high above the $4 psychological milestone. Will the ongoing rally lead to an extension that crosses the $4 barrier? Let’s find out.

SUI Price Analysis

On the 4-hour chart, SUI’s price surge surpasses the overhead trendline of a falling channel pattern. This falling channel has formed a bullish flag pattern, complementing the bull run.

As a result, the SUI price action shows strong upward momentum, signaling a bullish flag breakout rally. The price broke past the overhead resistance trendline and faced resistance near the $3.64 mark, resulting in a minor pullback.

However, after a successful post-test reversal, SUI’s price has risen from $3.18 to $3.7417, representing a rally of 17.57%. Moreover, the breakout rally has moved above the $3.64 resistance level, which aligns with the 23.60% Fibonacci level.

 

SUI Price Chart
SUI Price Chart

The SUI price action continues to show a post-test reversal from the Fibonacci resistance-turned-support level. The price is inching closer to its all-time high of $3.9433, forming higher highs.

Additionally, the highest price coincides with the supply zone, which ranges from $3.89 to $3.95, just below the 38.20% Fibonacci level. Therefore, the ongoing breakout rally is approaching a critical resistance zone.

The breakout rally has also caused an uptick in the 50-SMA line, which is on the verge of crossing over the 100-SMA. Furthermore, the 4-hour RSI has risen near the overbought boundary, indicating increased underlying buying pressure. As a result, technical indicators suggest a boost in buying pressure, increasing the likelihood of reaching a new all-time high.

SUI Price Targets

Using the trend-based Fibonacci levels, in case of a breakout rally above the 38.20% mark, the immediate resistance levels are at $4.467. Hence, the upside potential in SUI this week is nearly 20%. 

On the flip side, the dynamic support from the 50-SMA line at $3.45 and the 200-SMA line near the $3.00 psychological mark are likely to absorb any increase in supply. 

After Tron Hits $0.45, Will It Break $0.50 as Whales Take Profit?

Albert Brown
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After Tron Hits $0.45, Will It Break $0.50 as Whales Take Profit?

With a new all-time high, the parabolic rise in Tron (TRX) prices targets the $0.50 mark. Will the bullish trend break through this psychological milestone?

Tron has registered a massive surge of nearly 100% over the past 24 hours, becoming the 10th biggest cryptocurrency in the market.

Reaching a market cap of $33 billion, Tron’s price has hit a new all-time high. As the bullish trend gains momentum in the recovering market, will the TRX price reach the $0.50 psychological mark? Let’s find out.

Tron Price Analysis

Tron’s impressive parabolic rise is evident on the 4-hour chart, where it recently reached a new peak. The price spiked by 95.88% last night, climbing from an opening price of $0.2210 to close at $0.43293.

During this rally, TRX briefly touched a 24-hour high of $0.44948, setting a new all-time high.Tron Price Chart

Tron Price ChartCurrently, the bullish rally is experiencing a minor pullback after the formation of an impressive engulfing candle. With an intraday pullback of 10.54%, the TRX price has dropped from the opening price of $0.4330 to the current market price of $0.38726.

BitTorrent Takes Strategic Exit 

Amid Tron’s price reaching a new all-time high, long-term holders are beginning to book profits. Over the past hour, a BitTorrent wallet deposited 7 million TRX tokens on Binance.

Based on the current market price, these tokens are valued at approximately $2.72 million. Over the past 24 hours, the wallet has deposited 42 million TRX tokens worth around $11.5 million.

As Tron’s supply on the Binance exchange grows, a minor pullback in TRX prices is expected. Despite the significant sale, BitTorrent still holds 56.23 million TRX tokens, valued at approximately $44 million.

Tron Price Targets 

Following the massive surge in Tron’s market price, the MACD and signal lines have shown substantial bullish gaps, with skyrocketing positive histograms.

Additionally, the simple moving average lines have seen a significant uptick with the engulfing candle. This marks the fourth consecutive bullish candle, reflecting a release of bullish momentum.

The lower price rejection in the intraday candle from $0.366 shows strong support at the pivot point of $0.3685. Based on the pivot points, the immediate resistance is at the R1 level, around $0.51. Therefore, the price trend indicates the possibility of Tron crossing the $0.50 psychological milestone.

Binance Coin Hits New All-Time High Price: Is $920 Next?

Albert Brown
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Binance Coin Hits New All-Time High Price: Is $920 Next?

Will the new all-time high in Binance Coin (BNB) price lead to a crossover above the $800 milestone?

Amid growing bullish sentiment in the crypto market, Binance Coin has reached a new all-time high. Surpassing the $750 mark, BNB now boasts a market cap of $109 billion.

With a 24-hour trading volume of $5.5 billion, the altcoin has surged by 16.65% over the past 24 hours. This drives the 30-day returns to 35.33%, increasing the likelihood of a continued bullish trend. Will this recovery rally push the price past the $800 barrier? Let’s find out.

Binance Coin BNB Price Analysis

In the daily chart, the BNB price action showcases a massive bullish engulfing candle formed last night. This accounts for a 13.50% surge from the opening price of $648 to the closing at $735.50. 

Binance Coin Price Chart
Binance Coin Price Chart

With the continuation of bullish momentum, the uptrend is marked by the formation of a second green candle, reflecting a 2.72% increase. Starting at $735.60, the price is currently trading at $755.00.

Breaking above the previous peak of $724.70, the bullish trend in BNB is approaching the 1.272 Fibonacci level, which is priced at $812.10—slightly above the $800 psychological level. As a result, a supply zone is expected to form between $800 and $812.

Meanwhile, the higher price rejection at the 24-hour high of $775.40 signals a potential retest. This retest could happen at the $724.70 peak before the bullish trend continues.

The 50, 100, and 200 EMA lines are positively aligned, supporting the uptrend. Additionally, the MACD and signal lines have seen a sharp increase in the bullish gap, with positive histograms. Both the dynamic average lines and the MACD indicator suggest that Binance Coin’s price may continue its upward trajectory.

Will Binance Coin Price Cross $800?

Supporting the bullish trend, the open interest of BNB coin has risen to $1.46 billion, a surge of 35.20% over the past 24 hours. Furthermore, the long-to-short ratio is at 1.006, reflecting a bullish sentiment among the traders.

Therefore, in the ongoing bull market, BNB’s price trend is likely to gain momentum and breach the $800 mark.

Based on Fibonacci levels, an uptrend beyond $812 will aim for the 1.618 level at $923.30. On the downside, support below $724.70 is found at the 78.60% Fibonacci level of $655.90.

Bitcoin Jesus Roger Ver Seeks Dismissal of $50 Million Tax Evasion Indictment

Albert Brown
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Bitcoin Jesus Roger Ver Seeks Dismissal of $50 Million Tax Evasion Indictment

Roger Ver, widely known as “Bitcoin Jesus,” is at the center of a contentious legal battle following an indictment on criminal charges related to alleged tax evasion.

The indictment, filed by U.S. authorities, accuses Ver of failing to pay nearly $50 million in taxes stemming from his sale of approximately $240 million worth of Bitcoin in 2017. Following his arrest in Spain earlier this year, Ver was released on bail and is awaiting possible extradition to the United States.

According to a Fox Business’ Eleanor Terrett, Ver’s legal team is vigorously contesting the charges, arguing that the case is politically motivated and based on flawed evidence.

Allegations and Indictment Details

The charges against Ver involve a series of alleged tax violations, including underreporting his Bitcoin holdings in 2014. The U.S. government claims that Ver intentionally misrepresented the value of his Bitcoin to avoid a higher “exit tax” when he renounced his U.S. citizenship and moved to Saint Kitts and Nevis. 

Additionally, the indictment accuses him of failing to report capital gains from the sale of his Bitcoin holdings in 2017. Ver’s legal team argues that these actions were based on professional legal advice and a lack of clear regulatory guidelines surrounding digital assets at the time. They assert that the tax obligations were complex, and Ver made every effort to comply with U.S. tax laws.

Legal Defense and Motion to Dismiss

In response to the indictment, Ver’s attorneys have filed a motion to dismiss the charges, citing government overreach and violations of Ver’s rights. The legal team claims that U.S. officials may have improperly obtained privileged attorney-client communications and withheld key information that could exonerate him. 

They further argue that the exit tax itself is unconstitutional and that the 2014 tax guidelines for digital assets were insufficiently clear to make a definitive tax ruling. Ver’s lawyers maintain that he relied on the expertise of top-tier law firms when planning his expatriation and tax strategy, which they believe should demonstrate his intent to comply with the law.

Political Context and Future Prospects

The case comes amid heightened scrutiny of the crypto industry, with observers speculating that Ver’s outspoken criticism of U.S. government regulations on digital assets may have contributed to the charges. His legal team hopes that the incoming administration may dismiss the case as part of a broader shift in how the government approaches crypto regulation. 

Per Fox Business, civil rights attorney Robert Barnes, representing Ver, has expressed optimism that the new political landscape will reverse what he calls “selective harassment” of crypto figures. This change could also impact Ver’s extradition, with hopes that the new leadership will favor a more crypto-friendly stance.

US Government Moves 54,897,092,549 Shiba Inu to New Wallet

Lele Jima
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US Government Moves 54,897,092,549 Shiba Inu to New Wallet

A blockchain wallet linked to the United States government transfers over 54 billion Shiba Inu (SHIB) tokens to a newly created wallet. 

Popular blockchain analytics platform Arkham Intelligence indexed the transaction on December 3 at 19:30 (UTC).

US Moves Over 54B SHIB 

Specifically, the U.S. government transferred 54,897,092,549 (54.89 billion) SHIB tokens to the Ethereum wallet ‘0x9…Cb0’. With Shiba Inu currently trading at $0.00003058, the tokens are worth around $1.67 million. 

Following the transaction, the sending wallet, which had links to the United States government, no longer own any SHIB tokens. In the meantime, the recipient wallet, with a total crypto portfolio of $33 million, has retained the assets.

US Government Sees Huge Return on Shiba Inu Holding  

The U.S. government has been holding the 54.89 billion SHIB tokens since earlier this year. In August, The Crypto Basic reported that the tokens were valued at $729,581, each priced at $0.00001329. Interestingly, the value has skyrocketed by 128.89% in less than four months to $1.67 million. 

This follows a surge in Shiba Inu’s price, which began last month after the U.S. election. In particular, Shiba Inu has rallied by nearly 100% since the November 5 election, soaring from around $0.000017 to $0.000033 on December 1. 

Currently, Shiba Inu is trading above the $0.00003 mark, with a unit priced at $0.00003058. 

Other Crypto Transfers 

Data from Arkham suggests that the recipient wallet was newly created. Its first transaction occurred yesterday when it received $1.061 million AEGRO from the same wallet that moved the Shiba Inu tokens. 

The wallet received other crypto assets from the U.S. government-affiliated address in less than two hours. They include 4,815 ETH ($17.22 million), 13.58 million BUSD ($13.58 million), and 631,959 POWR ($199,250). 

Meanwhile, the U.S. government-linked blockchain wallet also moved some crypto assets to another wallet starting with ‘0X9cd’, including 138,984 RLC ($347,460) and 1,232 COMP ($106,430). Additionally, it also transferred 19,800 BTC worth $1.92 billion to Coinbase earlier this week. 

It is worth mentioning that the U.S. government seized some of these funds from the FTX case following the exchange’s epic collapse in 2022. 

Grayscale Files to Convert Its Solana Trust to an ETF

Elendu Benedict
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Grayscale Files to Convert Its Solana Trust to an ETF

Grayscale has filed for a Solana ETF as the investment products gain momentum following the remarkable successes of the Bitcoin and Ethereum ETFs.

Grayscale and the New York Stock Exchange (NYSE) have applied for a Solana exchange-traded fund (ETF). In a Tuesday filing, the asset manager filed with the US Securities and Exchange Commission (SEC) to convert its Solana Trust investment product to an ETF.

The $13 trillion asset management firm disclosed in the filing that it intends to list the ETF product on the NYSE Arca. Per the 19b-4 filing, the fund will track Solana’s price performance and reward its holders accordingly.

Notably, Grayscale launched the Grayscale Solana Trust (GSOL) in November 2021, with the fund recently accruing an asset under management (AUM) of $134 million. However, the fund is only traded on the over-the-counter (OTC) market, limiting its investor reach.

With the filing, the asset manager aims to broaden the fund’s reach to potential investors, providing alternative means of exposure to the fourth-largest cryptocurrency by market cap.

Grayscale Forays into Solana ETF

The Tuesday filing ensured that Grayscale became the fifth asset manager to file for a Solana ETF. Ark’s 21Shares and VanEck were the first to indicate interest in the product, with Bitwise and Canary Capital joining the bandwagon later.

Notably, Grayscale played an essential role in approving the Bitcoin spot ETF in January, with its lawsuit against the SEC catalyzing a change of heart among the agency’s hierarchy. The asset manager also has an Ethereum spot ETF, which started trading months back.

Meanwhile, analysts expect positive outcomes on the ETF approval front following Donald Trump’s win and Gary Gensler’s expected resignation. Bloomberg analyst Eric Balchunas earlier asserted that the Solana ETF would not see the light of day unless there is a change in the White House and the SEC hierarchy.

ETF Filing Boosts Solana’s Price

Following the filing, Solana surged considerably, reaching an intraday high of $240.9 today. However, the asset trades at $235.93 at the time of writing.

Standard Chartered analyst Geoff Kendrick earlier argued that the Solana ETF, which Trump’s win will facilitate, will spur a fivefold increase in Solana’s price. The market expert insisted that Solana would outperform Ethereum and Bitcoin in this cycle if the SEC approved the SOL ETF.

Hence, Grayscale’s entrance has steered the community, swelling bullish sentiments around the Solana ecosystem. Meanwhile, veteran Peter Brandt speculated that SOL would target $274 next

Celsius Founder Alex Mashinsky Pleads Guilty to Billion-Dollar Crypto Fraud

Albert Brown
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Celsius Founder Alex Mashinsky Pleads Guilty to Billion-Dollar Crypto Fraud

Alex Mashinsky, the founder of the ill-fated crypto lending platform Celsius, has pleaded guilty to two counts of fraud, admitting his role in misleading investors. 

Notably, Mashinsky was charged with artificially inflating the price of the CEL token, a scheme that allegedly helped him secure $42 million in personal gains. He admitted to misleading customers, particularly in December 2021, when he made false claims about the platform’s financial status. 

Mashinsky falsely suggested that Celsius had approval from regulators, a statement he later acknowledged was not true. This misrepresentation was tied to Celsius’ earn program, where customers exchanged Bitcoin for CEL tokens under the false belief that the platform was financially sound.

Furthermore, Mashinsky manipulated the CEL token’s price, which involved direct market intervention. Prosecutors argue that Celsius spent hundreds of millions of dollars purchasing its token to prop up its value, using funds from customer deposits without proper disclosure.

This strategy created a false sense of security for investors unaware of the company’s financial instability. Mashinsky’s actions contributed to the firm’s eventual collapse, which left Celsius with over $1 billion in debt.

Legal Proceedings and Guilty Plea

Mashinsky’s guilty plea marks a significant development in the legal battles surrounding Celsius. Initially facing five charges, he agreed to plead guilty to two key counts: commodities fraud and price manipulation. This decision avoids a trial that was scheduled for January 2025.

In his statement, Mashinsky took full responsibility for his actions, acknowledging the wrongfulness of his conduct. He also expressed a desire to make amends, although he will face sentencing. Prosecutors have stated that, depending on the sentencing, he could face up to 20 years in prison.

The legal proceedings surrounding Celsius have involved several key figures. Former Celsius executive Roni Cohen-Pavon, who played a role in the fraudulent activities, pleaded guilty in 2023 and agreed to cooperate with authorities. 

Celsius’s downfall in 2022 was one of the earliest indicators of the broader market downturn that would come to be known as “crypto winter.” This development cost stakeholders several billions of dollars.

In September 2022, Alex Mashinsky resigned as CEO of Celsius Network. He stepped down from all directorial positions within Celsius and its subsidiaries. However, he expressed a desire to retain his position as a director at Celsius Network Ltd.

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