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MOG Coin Uptrend Targets 126% as Cup-and-Handle Breakout Looms

Albert Brown
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MOG Coin Uptrend Targets 126% as Cup-and-Handle Breakout Looms

With a fresh recovery run gaining momentum for Mog Coin, will the uptrend scale beyond 100%?

With the Bitcoin price sustaining dominance above the $72,000 mark and an intra-week gain of 7.27%, meme coins are making a bullish comeback. As the meme coins market cap sustains above $63 billion, the MOG coin shows a promising trend. 

With four consecutive bullish days, the MOG Coin is inching closer to a significant breakout. Will this breakout rally lead to a new all-time high with a more than 100% price jump? Let’s find out. 

Cup and Handle Breakout For MOG

In the daily chart, the MOG coin shows a cup-and-handle pattern with a neckline at $0.000002355. In the last 7 days, the meme coin has increased by nearly 32% from the 7-day low of $0.000001599. 

MOG price chart
MOG price chart

Currently, the MOG coin is trading at $0.00000210459 with an intraday gain of 4.39%. As the meme coin has reclaimed a psychological mark of $0.0000020, the four consecutive bullish candles tease a completion of the cup-and-handle pattern. Hence, the chances of MOG coin testing the neckline have significantly increased. 

As the bearish histograms decline with increasing bullish influence, the MACD and Signal lines prepare for a bullish crossover. Meanwhile, the crucial 20, 50, 100, and 200-day EMA maintains bullish alignment. Hence, the momentum indicator and dynamic lines give a buy signal for MOG. 

Will MOG Reach $0.0000050?

Based on the Fibonacci levels, the neckline coincides with the 100% level at $0.000002355. A bullish breakout of the bullish pattern will likely reach the 1.618 Fibonacci level at $0.0000047623, accounting for a 126% rise. This increases the chances of the bull run reaching the $0.0000050 psychological mark in the ongoing bull trend. 

On the flip side, the downside risk for the meme coin remains at the $0.000001845 level. 

Cardano Founder Agrees ADA is the Main Character in the Market Right Now

Abdulkarim Abdulwahab
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Cardano Founder Agrees ADA is the Main Character in the Market Right Now

Cardano founder Charles Hoskinson has expressed agreement with the idea that ADA is “the main character” in the ongoing bull market.

Nebulor, an advocate of Cardano, recently took to X to share his sentiment about the ADA token, the 11th largest cryptocurrency with a market cap of $12.45 billion. He noted that, in his view, ADA seems to be emerging as the main character in the market at this time.

This opinion quickly gained traction within the community, especially among Cardano supporters. Some resonated with Nebulor’s view, noting that “something big” is on the horizon, while others found the claim amusing. Among the skeptics, one commenter suggested that Nebulor might just be hallucinating.

Cardano Founder Reacts

Meanwhile, Nebulor’s take on Cardano’s current market position received a nod of approval from the founder himself. In response to the post, Charles Hoskinson shared a humorous GIF, smiling and nodding in agreement.

Recent Developments Influencing Bullish Views About ADA

Hoskinson’s reaction further gained traction among enthusiasts, with some pointing to the recent Cardano-Bitcoin integration as a major development for ADA in this cycle.

Notably, last week, Cardano partnered with BitcoinOS (BOS) to become a smart contract layer for Bitcoin, aiming to unlock Bitcoin’s $1.3 trillion market.

This collaboration will enable DeFi developers to access Bitcoin’s liquidity without intermediaries. The integration will use the BOS Grail bridge, which employs zero-knowledge proofs to secure connections between the blockchains.

Hoskinson and Cardano community members have been excited since the announcement, seeing its potential for the Cardano network and ADA’s market value. The integration also enhances Cardano’s DeFi capabilities, allowing projects like Fluid Tokens to utilize Bitcoin assets. Notably, the partnership marks Cardano as the first Layer-1 chain to implement the BOS technology.

Additionally, just last month, the Cardano ecosystem welcomed its biggest upgrade ever, transitioning the network to be fully community-owned.

Essentially, given these crucial developments, community members like Nebulor hope that ADA will emerge as a trending crypto asset in this cycle.

ADA Price Action

However, the performance of ADA’s price has been disappointing. ADA is trading at $0.3550, up only 3% over the last seven days, while Bitcoin has grown by 8%. On a year-to-date scale, Cardano’s current value reflects a significant drop of 40%, while Bitcoin is up by 71%.

Meanwhile, top analysts have noted that ADA’s bull run could begin next month, as seen in the last cycle.

Expert Says This Time Will Not Be Different After Massive Bitcoin Rallies in Last Three US Elections

Elendu Benedict
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Expert Says This Time Will Not Be Different After Massive Bitcoin Rallies in Last Three US Elections

Seasoned market analyst Ali Martinez has teased a possible bullish explosion in the Bitcoin price, citing historical performance after the last three US presidential elections.

Bitcoin has turned the tides around following a slow start to Uptober. The asset dipped to $59,506 earlier in the month following rising geopolitical tensions in the Middle East.

However, the crypto firstborn has shown resilience, surging 17.7% from the recent low to its current price. It even pushed near its all-time high of around $73,700 on Tuesday but failed to break through the resistance.

Notably, a few factors have spurred Bitcoin’s recent resurgence, including growing hopes of a Federal Reserve rate cut and surging odds that pro-crypto candidate Donald Trump will win the November 5 US election.

Amid these bullish sentiments, market expert Ali Martinez has shared thought-provoking data on Bitcoin’s performance in the US presidential election years. With the analysis, he has asserted an impeding explosive uptick in the premier asset’s price.

Martinez Asserts an Explosive Bitcoin Rally

In his October 30 tweet, Martinez shares Bitcoin’s price performance after the past three election years. His data covered the asset’s behavioral pattern following the 2012, 2016, and 2020 US presidential elections.

The data shows that after the November 2012 election, Bitcoin rallied 10,640% to its peak price of $1,137 in early December 2013. A similar pattern occurred after the November 2016 election, as the premier crypto asset surged 2,698% to a cycle top of $18,970 on December 20, 2017.

Furthermore, the November 2020 election also heralded a considerable upside. Bitcoin surged 386% to a peak of $69,000 in November 2021. As a result, Martinez believes that this cycle will not be different, expecting Bitcoin to follow historical trends.

Bitcoin US Election Performance Chart
Bitcoin US Election Performance Chart

Bitcoin Peak Price Targets

With a Bitcoin surge after the US election established, the big question remains which price Bitcoin’s price will peak at this cycle. Notably, analysts have placed different price targets for 2025. 

For instance, leading bank Standard Chartered asserted that Bitcoin will hit $200,000 by the end of next year. Brokerage firm Bernstein shares the same price outlook for Bitcoin but noted that the $200,000 was a conservative target.

Veteran analyst Peter Brandt set a more ambitious price expectation for Bitcoin, asserting it would trade at $230,000. Notably, he based his prediction on logarithm projections from Bitcoin’s November 2022 to March 2024 upswing.

Meanwhile, market analyst Sina predicted Bitcoin will surge past $285,000 by 2025, citing a quantile regression model. Interestingly, he noted that the price target was not the top, suggesting BTC could trade past the price mark.

At the time of writing, Bitcoin trades at $72,424, up almost 8% in the past seven days.

SEC Acknowledges Grayscale Request to Convert Its GDLC Fund Containing XRP to an ETF

Lele Jima
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SEC Acknowledges Grayscale Request to Convert Its GDLC Fund Containing XRP to an ETF

XRP moves closer to having a basket spot ETF as the U.S. SEC acknowledges Grayscale’s request to convert its Digital Large Cap Fund (GDLC) into an ETF. 

The securities regulator recently confirmed that it received NYSE Arca’s proposed rule change, seeking to list and trade Grayscale’s multi-coin fund shares. According to the notice, NYSE submitted the filing under Section 19(b)(1) of the 1934 Securities Exchange Act and Rule 19b-4.

For context, both rules allow self-regulatory organizations like NYSE to propose rule changes as reflected in the firm’s request to list and trade shares of Grayscale’s GDLC. The rationale behind the notice is for informational purposes and to solicit public comments regarding the proposed rule change.

Nate Geraci, President of the ETF Store, shared the SEC notice yesterday, suggesting that the timeline for the fund’s approval has begun. If approved, Grayscale’s GDLC would become the first multi-fund spot crypto ETF in the United States. 

Grayscale GDLC 

Grayscale officially introduced the Digital Large Cap Fund on February 1, 2018. The fund features a basket of assets such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP (XRP), and Avalanche (AVAX).

At press time, the fund boasts a total asset under management (AUM) of $558.84 million. BTC, ETH, SOL, XRP, and AVAX account for 76.26%, 17.20%, 4.38%, 1.59%, and 0.57% of GDLC’s valuation, respectively.

Grayscale GDLC holding
Grayscale GDLC holding

Potential Impact of GDLC ETF Approval on XRP 

Although XRP commands a minimal percentage of GDLC’s valuation, the fund’s approval for an ETF could attract institutional capital into the XRP ecosystem. It could also improve the likelihood of approval for other spot-based XRP ETF filings. 

As reported earlier, Canary Capitals and Bitwise seek to launch spot ETFs exclusively tied to XRP. Both firms submitted their applications to the SEC earlier this month.

However, the regulator has not acknowledged any of the filings though they were submitted before the Grayscale GDLC conversion request. This delay is expected and is likely due to the SEC v. Ripple lawsuit. The parties aim to overturn a district court ruling relating to Ripple’s XRP transactions and have submitted their pre-arguments.

Despite the speculation surrounding the potential launch of XRP ETFs, Ripple CEO Brad Garlinghouse remains confident that the SEC will eventually approve the funds. 

Can Shiba Inu Hit $0.0001 or $0.001 if It Reaches a $100B Market Cap

Sam Wisdom Raphael
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Can Shiba Inu Hit $0.0001 or $0.001 if It Reaches a $100B Market Cap

The Shiba Inu goal to reach new heights could materialize if its market cap grew to the $100 billion mark amid a rapid price rally.

Shiba Inu has had an impressive run since its inception in August 2020. The canine-themed meme coin secures the spot as one of the most successful assets in this decade, even outperforming industry giants such as Bitcoin (BTC) and Ethereum (ETH). 

Shiba Inu’s Historic Performance

Notably, among the top 100 cryptocurrencies, SHIB has recorded some of the highest all-time gains, with price tracking resource CoinMarketCap pegging this rate at 1,398,289%. Shiba Inu’s historic performance from 2020 to 2021 contributed largely to this figure, and has become the source of optimism among investors.

Amid the sustained optimism, several market experts have predicted ambitious price targets for Shiba Inu. For instance, market watcher Javon Marks insists a rally to a $0.000081 target looms. While Marks’ target is readily achievable, investors have also witnessed more audacious projections.

One such target is the $0.00017 goal from market commentator Oscar Ramos. In addition, another analyst LuckSide predicted last month that a Shiba Inu breakout could push the token to a massive $0.001 price level. Currently trading for $0.00001866, Shiba Inu would need to rally 436% to reach $0.0001 and 5,259% to clinch $0.001.

However, other market commentators have expressed doubt that some of these audacious targets could materialize. While analyst E Obez believes Bitcoin could clinch $90,000 next year, he argued that a Shiba Inu rise to $0.001 would not be happening.

Can SHIB Hit $0.001 or $0.0001 at a $100B Market Cap

The major reason behind the skepticism is the resulting market cap from certain high prices, with SHIB’s circulating supply currently sitting at 589 trillion tokens. They believe there would not be enough capital to sustain some of these resulting market valuations.

For context, Shiba Inu’s peak valuation was $39 billion attained in late 2021. Despite a drop to $10.91 billion at press time, Shiba Inu has the potential to claim a $100 billion market cap. Market analyst Jake Gagain echoed these sentiments in a commentary three months ago.

At a $100 billion market valuation, Shiba Inu’s price will have spiked to $0.0001697, close to the $0.00017 target set by Oscar Ramos. This assessment confirms that SHIB would surpass $0.0001 at a $100 billion market cap. 

However, the more ambitious $0.001 target would not be realized with this valuation. If Shiba Inu ever captured the $0.001 level, this would translate to a market cap of $589.2 billion, much higher than the current valuation of Ethereum (ETH), the second-largest crypto asset.

Ripple CTO Says He Likes This Trend on XRP Ledger

Abdulkarim Abdulwahab
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Ripple CTO Says He Likes This Trend on XRP Ledger

The Ripple CTO, David Schwartz, recently expressed his admiration for the growing trend of meme coins on the XRP Ledger (XRPL).

Yesterday, the team behind the XRPL meme coin Drop (DROP) reached out to Schwartz to offer him a gift of DROP tokens as a token of appreciation for his contributions to the XRP Ledger blockchain. They requested his wallet address so they could send him the DROP tokens.

Remarkably, Ripple’s CTO obliged, sharing his wallet information and stating that he “likes this trend.” 

According to a screenshot shared later by the Drop team, 15 DROP tokens were sent to Schwartz. In a subsequent post, the team welcomed him to the “DROP Army.”

The Trend of Meme Coins on the XRPL

The trend of meme coins in the XRP ecosystem is rapidly expanding, with DROP emerging as one of the fastest-growing options. It is tradable on the First Ledger DEX and is worth 8.24 XRP or approximately $4.29 per token.

However, this price reflects a notable decrease of 13.35% over the past 24 hours. DROP has a supply of 989,000 tokens and a market cap currently at $4.24 million. The token boasts an army of 3,580 holders. It recorded a trading volume of 828,000 XRP in the past day, equivalent to around $430,000.

Five days ago, the DROP team celebrated reaching a market cap of $10 million, making it the first meme coin on the First Ledger DEX to achieve this milestone. This is particularly noteworthy for the meme coin, as it launched only two weeks ago. While the team initially aimed for a market cap of $100 million, it has since seen a decline of over 50%.

Currently, the BEAR meme coin holds the largest market cap on the First Ledger DEX, approximately $5 million, with 5,718 holders. This coin launched just a week ago.

In the meantime, Magnetic X, a leading DEX on the XRPL, also recently launched Memepad, a platform dedicated to meme coins.

Memepad aims to foster innovation within the meme coin space by allowing users to create and launch their tokens on the XRPL. Following the launch of Memepad, over 70 new meme coins were introduced on the platform.

Expert Predicts XRP Bottom 31 Weeks After Bitcoin Halving, Targeting $26 on Recovery

Sam Wisdom Raphael
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Expert Predicts XRP Bottom 31 Weeks After Bitcoin Halving, Targeting $26 on Recovery

In an analysis from crypto market analyst Cryptobilbuwoo, a bullish trend has emerged linking XRP price movements to the Bitcoin halving. 

The forecast suggests that XRP could reach a new high of $26 based on historical patterns observed around Bitcoin’s halving cycles and its subsequent impact on Bitcoin dominance (BTC.D) and XRP.

The chart from Cryptobilbuwoo tracks XRP’s price alongside Bitcoin dominance (BTC.D) over an extensive timeframe. The pattern shows a unique 31-week cycle after each Bitcoin halving, in which XRP hits its lowest point. 

XRP Price and BTC Dominance After Bitcoin Halving

Data from the chart shows that following each halving, XRP faces a consolidation for several weeks, and then bottoms out on the 31st week. At this 31-week mark, Bitcoin dominance typically reaches a peak while XRP starts an upward trend. 

XRP Price and Bitcoin Dominance Cryptobilbuwoo
XRP Price and Bitcoin Dominance | Cryptobilbuwoo

The pink areas on the chart signify the period in which Bitcoin dominance falls while XRP rises, creating an inverse relationship. As Bitcoin’s market control fades, XRP’s price has shown a tendency to climb, signaling the possibility of substantial growth in the post-halving period.

For context, this pattern played out after the Bitcoin halving in July 2016, with XRP eventually spiking to an all-time high of $3.31 in January 2018. This also occurred following the halving in May 2020, as XRP rallied to a $1.96 peak by April 2021.

Now, the pattern seems to be playing out again after the most recent Bitcoin halving in April 2024. Given that the next 31-week mark falls around late 2024, particularly mid next month, the stage could be set for XRP’s next massive uptrend.

Once this upsurge begins, the analyst expects XRP to skyrocket to a $26 price. Interestingly, another market commentator EGRAG also projected a $26 price for XRP,  using a linear regression theory.

XRP’s Immediate Outlook

Meanwhile, XRP’s immediate price outlook shows the altcoin XRP has been consistently forming higher lows since July 2024. This shows resilience amid market uncertainties. 

Currently, XRP is trading at $0.5161, slightly below its 20-day moving average (MA) of $0.5426. For XRP to ignite further bullish momentum, it needs to break past this 20-day MA. Breaching this level could provide strength for testing the upper Bollinger Band at $0.6419.

XRP 1W Chart
XRP 1W Chart

Analysts speculate that surpassing the $0.6 resistance could act as a launchpad for a stronger rally. Meanwhile, XRP boasts support at the lower Bollinger Band around $0.4434. This level could help defend against any steeper declines.

On the directional movement index (DMI), the positive directional indicator (+DI) at 18.83 and the negative directional indicator (-DI) at 24.93 are both currently ranging. This suggests a lack of clear trend direction. The average directional index (ADX) stands at 11.35, indicating low trend strength.

Canary Capital Joins Solana ETF Race with Recent SEC Filing

Elendu Benedict
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Canary Capital Joins Solana ETF Race with Recent SEC Filing

Asset manager Canary Capital becomes the latest to submit a Solana spot exchange-traded fund (ETF) filing with the US Securities and Exchange Commission (SEC) amid growing traction.

The Tennessee-based asset manager submitted the filing on October 30, declaring its intention to offer clients indirect access to Solana, the fifth-largest crypto asset with a market cap of $82.4 billion. The filing stated that the investment vehicle would track the price of Solana using the Chicago Mercantile Exchange CF Index as a benchmark.

Notably, Canary did not indicate which exchange the Solana ETF will trade on or the ticker representing the fund in the filing.

Canary Joins Bandwagon

The asset manager becomes the latest to file for a Solana spot ETF with the SEC as institutional interest develops toward the crypto asset. Notable ETF issuers like VanEck and Ark Investment had already filed for the fund approval in September.

Although the other filings have not made significant progress, Canary’s entrance into the race establishes surging institutional traction toward a Solana spot ETF. Meanwhile, Bloomberg’s senior analyst Eric Balchunas noted that the filings may only see the light of day if the SEC hierarchy changes following Republican nominee Donald Trump’s win.

Furthermore, Canary has filed for three ETFs since its market debut in September. The asset manager, founded by former Valkyrie executive Steven McClurg, had filed for XRP and Litecoin ETFs earlier in the month.

Solana Gaining Institutional Traction

Notably, institutional investors and asset managers have started noticing the fifth-largest crypto asset by market cap. This was expected following the launch of the Bitcoin and Ethereum ETFs in January and July, respectively.

Solana’s chain properties and active usage have been an inviting point for asset managers. Canary noted in an October 29 post that Solana has eclipsed Ethereum and Binance Chain in active addresses and layer 2 chain accounting.

VanEck and Standard Chartered also share a similar sentiment with Canary, noting in different capacities that Solana has outpaced Ethereum in chain performance recently. The former expects the asset to reach half of Ethereum’s market cap in the near term.

However, regulatory uncertainties still impede Solana. The US SEC views the cryptocurrency as a security and has played hardballs since institutional traction for the asset resumed.

At the time of writing, Solana trades at $175.22, down 2.51% in the past 24 hours. Meanwhile, the altcoin has surged 12.79% in the past month and 384% over the last year.

Shiba Inu Lead Highlights New Prospect and Warning for This Upcoming Token, Says it Will Lead Memecoins Shift to Utility Tokens

Lele Jima
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Shiba Inu Lead Highlights New Prospect and Warning for This Upcoming Token, Says it Will Lead Memecoins Shift to Utility Tokens

Shiba Inu lead developer Shytoshi Kusama expresses optimism about TREAT’s potential to accelerate the transformation of memecoins into utility tokens. 

The Shiba Inu lead developer expressed this view today during an exchange with Simon Dedic, CEO of blockchain advisory and investment firm Moonrock Capital. 

In an X post yesterday, Dedic pointed out that memecoins are slowly transforming into “fundamentally strong utility tokens.” Amid this evolution, he suggested that this shift might continue in the coming months, leading to a complete transformation of the memecoin market. 

Kusama Reacts 

Interestingly, Dedic’s comment triggered a reaction from Kusama, who indicated that the transformation of memecoins to utility tokens is moving at a slower pace. Nonetheless, he expressed optimism that Shiba Inu ecosystem tokens, especially TREAT, are accelerating this shift. 

He emphasized that the upcoming TREAT token would combine its meme trait with its governance utility, potentially convincing wise investors about memecoins’ transformation to utility tokens. 

Shiba Inu Team Issues Fresh Warning About TREAT 

Kusama’s post about TREAT’s utility comes a few hours after he joined other Shiba Inu ecosystem team members to warn the general public that the token has not yet launched. 

According to Kusama, all existing TREAT tokens in the crypto market are nothing but ‘tricks.’ 

This suggests that the Shiba Inu ecosystem team has yet to launch the authentic TREAT token for public use. Hence, crypto investors should be vigilant and avoid trading or investing in any existing TREAT token until the official launch. 

In a follow-up post, Shiba Inu marketing lead, Lucie, issued a similar warning about the yet-to-be-released TREAT. She asserted that all TREAT imitations available in the market are not the ‘real deal.’ 

Lucie noted that while some investors may deliberately acquire the fake TREAT tokens, referred to as knock-offs, the team does not want unsuspecting investors to invest in the fake asset unknowingly. 

In the meantime, she urged potential investors to join the “Treats for Shib” community on X and ask the moderators anything relating to the token. 

The Shiba Inu ecosystem team has yet to set a date for the public release of TREAT. Upon its public launch, TREAT will serve as the official reward token for the Shiba Inu ecosystem. Specifically, people who stake SHIB on ShibaSwap decentralized exchange earn TREAT in return. 

Furthermore, TREAT would function as the official gas token of Shiba Inu’s upcoming Layer-3 privacy blockchain and serve as a governance token in SHIB DAO. These features will boost its utility within the ecosystem.

This Single Event Shows Bitcoin Bull Run to New Highs Might Have Already Begun

Sam Wisdom Raphael
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This Single Event Shows Bitcoin Bull Run to New Highs Might Have Already Begun

Lookonchain, a blockchain surveillance resource, has identified an event that suggests Bitcoin might be on its way to a new all-time high.

The on-chain intelligence platform disclosed this in a recent commentary amid Bitcoin’s ongoing recovery push. For context, BTC staged an impressive breakout over the past weekend, partly fueled by increasing demand as the U.S. presidential election looms.

Bitcoin Recovers to End October Bullish

Amid the uptrend, Bitcoin recorded four consecutive intraday gains from Oct. 26 to 29, soaring by 8.97% within this period. Interestingly, the firstborn crypto asset came close to breaching its March 2024 all-time high on Oct. 29 as it crossed the $73,500 mark. However, it faced resistance at this level.

Despite witnessing a pullback yesterday, Bitcoin has maintained its gains this week, holding strong above $72K. Remarkably, the recent rally has now put October in the green for Bitcoin, with the largest crypto asset up 14.27% this month despite starting the month with massive declines.

Before now, Lookonchain had identified a trend that Bitcoin has followed five separate times since 2013. The on-chain resource confirmed that Bitcoin has started five massive market rallies in October. This pattern played out in 2013, 2017, 2020, 2021 and 2023.

Notably, October, often dubbed “Uptober,” has historically been significant for leading to massive price uptrends. For instance, in the most recent case, the first phase of the ongoing bull market began in October 2023, after Bitcoin closed the month with a massive 28.54% gain. 

Following this rally, BTC witnessed five consecutive months of gains. The asset rallied from $26,965 at the start of October 2023 to the recent all-time peak above $73K in March 2024. This marked an impressive 173% increase in five months.

Ideal Setup for New Highs

Now, after the correction that ensued in the second and third quarters of this year, Bitcoin is looking to replicate a similar run by closing October with a bullish stand. In its latest disclosure, Lookonchain confirmed that Bitcoin will again close this month with gains. This could lead to new highs in the subsequent months.

With the forthcoming U.S. presidential election and BTC already knocking at the March 2024 all-time high, analysts believe a new peak could materialize in the coming days. Three days ago, when BTC traded for $68K, Michaël van de Poppe projected a retest of the ATH in two weeks. 

However, veteran trader Peter Brandt insists Bitcoin would remain in a bearish inverted broadening triangle until it witnesses a close above $76,000 on a Sunday. Following this breakout, Brandt has already set a new cycle top of $135,000 for Bitcoin. Meanwhile, CryptoQuant recently called for an $84K target next

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