Home Blog Page 531

Analyst Says XRP Is Still Going to the Moon After It’s Done Testing All Your Patience

Abdulkarim Abdulwahab
-
0
Analyst Says XRP Is Still Going to the Moon After It’s Done Testing All Your Patience

Analyst Matt Hughes reaffirms his bullish stance, saying XRP remains set for a major breakout once it firmly conquers its “final boss” resistance.

In a tweet today, Hughes shared a fresh update regarding his earlier XRP moon call. He reminded the community that XRP is still going to the moon, but “after it’s done testing all your patience.”

This suggests XRP’s short-term performance could frustrate investors to the point of giving up. The commentary comes amid XRP’s latest volatility.

For context, XRP is trading at $3.03, down 2.65% today but still holding a 3.19% gain over the past week. The coin briefly touched $3.18 over the weekend before sliding back during today’s dip. Despite this short-term weakness, market sentiment remains broadly bullish, supported by long-term technical indicators.

XRP is “Back Above the Final Boss Angle”

In his post, Hughes noted that XRP is “back above the final boss angle,” a key resistance line within the Gann Fan framework that he has highlighted in earlier analyses.

Hughes previously pointed out that XRP’s multi-year chart shows a consistent pattern: historic resistance levels have flipped into support before each major rally. Also, peaks from 2018 and 2021, once capped by diagonal resistance, have already turned into support zones, strengthening the bullish structure.

XRP weekly chart by Matt Hughes
XRP weekly chart by Matt Hughes

To Hughes, the $3 zone represents the crucial “final boss” resistance. XRP briefly broke above $3.60 a few weeks ago. The coin has repeatedly dipped below $3 before attempting to reclaim this psychological level.

Essentially, Hughes believes the real test for XRP is converting the $3 area into solid support, forming a base for a parabolic breakout similar to past market cycles.

For XRP holders, the current phase of dipping after brief pumps may continue to test their patience. But the technical picture continues to favor a major rally once the “final boss” resistance finally falls.

Interestingly, Hughes is calling for XRP’s price to soar to $26 by the end of this cycle, delivering over 750% gains.

Broader Bullish Outlook

Other analysts echo Hughes’ long-term optimism. Raoul Pal, CEO of Real Vision, has highlighted that capital is rotating out of Bitcoin into other major crypto assets. He believes XRP is now set for a higher growth phase. However, Pal did not specify how high the coin could go.

Meanwhile, in a separate analysis, market watcher Ahmad Kazemii presented two bullish scenarios for XRP. In the base case, which he favors, a bullish wave could send XRP up to $9, roughly a 3X gain from here. Meanwhile, the alternative case calls for a stronger rally that might extend XRP’s rise to about $11.

In other words, both scenarios suggest significant upside. Other analysts also predict that XRP will reach $10, citing institutional demand and the upcoming DeFi platforms and ETFs.

Pundit Says XRP Circulating Supply Could Collapse Overnight

Sam Wisdom Raphael
-
0
Pundit Says XRP Circulating Supply Could Collapse Overnight

An XRP community commentator suggests the XRP circulating supply is lower than most think, presenting factors that could lead to further collapse overnight.

Notably, despite its recent price struggle, XRP has maintained a position above $3, boasting a market cap of around $180 billion. While Solana (SOL) and BNB trade for higher prices per token, their market caps are way below XRP’s due to the difference in circulating supplies.

Aljarrah: XRP Circulating Supply Could Collapse Overnight 

Specifically, CoinMarketCap data indicates that XRP has a circulating supply of 59.61 billion tokens at press time, lower than BNB’s 139.18 million tokens and Solana’s 542.56 million tokens. In addition to this, the CMC data suggests that 40.37 billion more tokens are yet to enter the market. 

Despite this reality, Versan Aljarrah, co-founder of the Black Swan Capitalist, insists that XRP’s circulating supply is actually lower than most market participants realize. He made this commentary in a recent post on X, looking to fuel the growing “supply shock” discussions within the XRP community.

Versan Aljarrah on X
Versan Aljarrah on X

According to Aljarrah, once market participants take out escrow holdings in Ripple’s accounts as well as balances held by large institutions, they will find that the XRP supply is lower than they think.

For context, Ripple holds 35.3 billion XRP tokens in escrow across 14 wallets, according to data from XRPL explorer XRPScan. Accordingly, XRPScan indicates that there are about 64.662 billion tokens in circulation, higher than the 59.61 billion presented by CoinMarketCap.

Possible Cause

Aljarrah’s recent comments suggest that while some may perceive XRP’s circulating supply to be on the high side, it actually pales in comparison to the utility of the token, which could lead to massive demand. Notably, such massive demand will likely require an even higher circulating supply, potentially leading to a supply shock and price appreciation.

According to Aljarrah, this demand could emerge from tokenized debt, stablecoins, and gold. For context, several commentaries have claimed that XRP may act as the settlement rail for tokenized versions of the real-world financial framework. 

Ripple CTO David Schwartz said in 2023 that the XRPL was pivoting to this sector. Moreover, a recent Bitwise report presented the XRPL as one of the networks that could battle for leadership in the growing tokenization market. Bitwise noted that buying XRP was one of the best ways of investing in tokenization.

Amid these discussions, Aljarrah insists that once the XRPL dominates the tokenization scene, the circulating supply, which many believe is high today, could be insufficient in powering the movement of funds, leading to what the market pundit calls an overnight collapse.

This is one of the reasons several community figures believe XRP could witness a supply shock in the future. In turn, such a development would lead to greater prices, especially when demand rises alongside the dwindling available supply.

XRP Needs to Close Above This Mark for a Space Mission

Elendu Benedict
-
0
XRP Needs to Close Above This Mark for a Space Mission

Prominent market analyst EGRAG Crypto has insisted that even the most optimistic XRP enthusiasts are not bullish enough for what is on the horizon.

He shared this in his recent analysis as XRP drops below the $3 support level. Currently priced at $2.98, XRP has failed to maintain bullish momentum, mirroring the trend of Bitcoin and several other major cryptocurrency assets.

What Lies Ahead for XRP Is Historic

Nonetheless, EGRAG Crypto has assured that what lies ahead for XRP is historical. He noted that even the most bullish bulls are not ready for the explosive price action that is on the cusp for XRP.

The analyst highlighted five distinct body candles for XRP within the 2-month timeframe, signaling building momentum. On each of them, the body of the candlestick enlarged progressively as XRP slowly captured higher prices.

Meanwhile, he also highlighted that the five candles formed an unprecedented structure following XRP’s breakout above the neckline of two parabolic curvatures. The twin U-shaped structures date back to January 2018, when XRP rallied to its all-time high of $3.84.

XRP Analysis/EGRAG Crypto

As a result, buying XRP now may still be early, as EGRAG Crypto noted that XRP could rally extensively from here. He compared an XRP dip below $2 to when Bitcoin traded at $200, insisting that those who bought XRP at $2 would become OGs.

Moreover, his strategy is simple: buy low and sell high. While many focus on catching short-term XRP price movements, EGRAG Crypto noted that his macro perspective is to acquire more XRP during the dips and resell at much higher targets.

Closing Above $3.70 Bullish for XRP

Notably, the analyst shared that things would escalate quickly for XRP above $3.70. According to him, a full-body candlestick close above the price mark on the 2-month chart could mark a “space mission moment” for XRP holders.

The $3.70 region aligns with an ascending trendline on the chart, which dates back to XRP’s high of $1.96 during the 2021 bull cycle. This resistance has prevented higher prices for XRP since then, with EGRAG Crypto asserting that a break above it could send the token higher. At the current market price of $2.98, this represents a 24% increase to reach the trendline.

Meanwhile, although he did not mention possible XRP targets in this commentary, EGRAG’s previous analysis has highlighted potential outcomes. For context, he said last month that XRP will rally to $27, debunking claims that the token would peak at $4 this cycle.

SEC Chair Paul Atkins Pledges End to Surprise Crypto Crackdowns

Zabi
-
0
SEC Chair Paul Atkins Pledges End to Surprise Crypto Crackdowns

U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins has outlined a new enforcement philosophy, promising to replace surprise crypto crackdowns with clearer guidance for businesses.

His comments, published in a Financial Times interview on Monday, mark a sharp departure from the agency’s previous approach, which critics often described as overly aggressive.

Atkins stressed that firms should not fear regulators “bashing down their door” over technical violations. Instead, the SEC under his leadership intends to provide warnings, explanations, and opportunities for compliance before considering enforcement.

A Break from the Past

For years, Wall Street executives and compliance officers argued that the SEC had become unpredictable. Several enforcement cases were seen as lacking clear precedent, leaving companies uncertain about the rules. Atkins acknowledged these concerns, noting that the commission too often took action first and clarified later.

He emphasized that the new direction seeks to rebuild trust in the SEC’s processes. 

“Markets need both fairness and certainty,” Atkins explained. “We must enforce the law, but we must also ensure due process and respect for the rule of law.”

Regulatory Agenda in Focus

Earlier this month, the SEC unveiled its latest rule-making priorities. The agenda includes broad proposals to reduce regulations that financial institutions say are overly burdensome. More notably, it places cryptocurrency regulation near the top of the Commission’s list.

This reflects the growing political and economic importance of digital assets. Policymakers are under pressure to find a balance between promoting innovation and protecting investors. Atkins’ remarks suggest that the commission is preparing to adopt a more open stance toward the expanding crypto sector.

Crypto at the Center of Policy Shift

Atkins’ comments align closely with President Donald Trump’s stated ambition to be a “crypto president”. The administration has pledged to promote the adoption of digital assets while ensuring the U.S. remains competitive in financial technology.

Moreover, the SEC chairman argued that most tokens are not securities and outlined plans to create rules that would allow investors to trade tokenized versions of shares and bonds. These synthetic securities would carry the same legal rights as traditional assets but could be exchanged around the clock on blockchain networks.

Contrast With Biden-Era Crackdown

The shift under Atkins represents a clear reversal from policies introduced during President Joe Biden’s term. The Biden administration took a cautious line, ramping up enforcement against crypto firms in the name of investor protection, fraud prevention, and anti–money laundering safeguards.

That approach drew criticism from industry leaders, who argued that the heavy regulatory burden was driving innovation overseas. With the Trump administration taking a friendlier approach, the U.S. could become a more attractive hub for digital asset development.

Shiba Inu: Shibarium Bridge Hit by $3M Exploit

Albert Brown
-
0
Shiba Inu: Shibarium Bridge Hit by $3M Exploit

The Shibarium bridge, a key channel connecting the Shiba Inu Layer 2 network with Ethereum, was struck by a major security breach recently. 

In a flash loan attack, an exploiter drained assets worth nearly $3 million, mainly in ETH and SHIB. Consequently, Shiba Inu developers took emergency steps to protect the network.

PeckShield Sounds the Alarm

Notably, the incident first came to light when blockchain security firm PeckShield flagged suspicious activity. The company posted on X that the Shibarium bridge contract had been compromised and tagged Shiba Inu’s lead developer, Shytoshi Kusama, urging him to review the unusual BONE tokens transfer.

Within hours, another lead developer, Kaal Dhairya, confirmed the exploit. He also assured the community that the team had already launched a detailed investigation.

Shiba Inu Exploiter Seized Validator Control

Initial findings revealed a carefully planned attack. The exploiter took out a flash loan of 4.6 million BONE, the gas token of Shibarium, from Shibaswap, the network’s native DEX. This allowed them to compromise 10 of the 12 validator signing keys that were securing the network. Controlling more than two-thirds of the keys gave the exploiter de facto authority over the bridge.

Armed with this control, the attacker drained 224.57 ETH and 92.6 billion SHIB from the Shibarium bridge contract. At current market prices, these stolen assets are worth around $2.4 million, which the exploiter then transferred to their own wallet.

Developers Freeze Staking Functions

To limit the damage, Shiba Inu ecosystem developers acted swiftly. They paused staking and unstaking functions on the network, effectively locking up the borrowed BONE tokens. This move prevented the exploiter from using their validator majority and stopped further misuse of network authority.

The attack also affected K9 Finance, a project that runs on Shibarium. The exploiter ended up holding a large volume of KNINE tokens worth approximately $700,000. Meanwhile, the K9 Finance DAO has blacklisted the wallet, making those tokens unsellable.

In addition, the investigators identified other tokens linked to the ecosystem, including LEASH and TREAT, as being at potential risk. However, at the time of writing, the exploiter has neither transferred nor liquidated these assets, and they remain untouched.

Shiba Inu Developer Calls It a Sophisticated Attack

Kaal Dhairya called the exploit “sophisticated” and suggested that hackers had likely worked on it for several months. In his statement on X, he confirmed that the Shiba Inu team had informed law enforcement. At the same time, he noted that the developers are open to offering a bounty if the attacker decides to return the stolen funds.

To strengthen the investigation and reinforce security, the Shiba Inu team has engaged multiple security partners, including PeckShield, Seal 911, and Hexens. Their role is to analyze the exploit and suggest measures to prevent similar incidents in the future.

Market Reacts with Volatility

The exploit caused sharp fluctuations across Shibarium-related tokens. BONE, the governance token directly linked to the breach, surged more than 122% in just one hour. Its price leapt from $0.166 to $0.37 on MEXC Global as traders reacted to the news. 

However, the sharp rally did not last long, with BONE quickly retreating to about $0.19 as profit-taking and risk concerns set in.

Meanwhile, SHIB, the popular meme token that anchors the ecosystem, fell by more than 5% in the past 24 hours, dropping to around $0.00001319.

Tom Lee Predicts 1 Ethereum Worth by 2035

Mark Brennan
-
0
Tom Lee Predicts 1 Ethereum Worth by 2035

Bitmine chairman Tom Lee has predicted that Ethereum has significant upside potential from its current price. Here’s how high it can go by 2035.

Since joining Bitmine Immersion Technologies, the largest Ethereum treasury company by holding, Lee has relentlessly pushed the bullish Ethereum narrative. He believes that the Ether ecosystem would benefit immensely from the developing trends in the financial market, predicting ambitious price targets for the altcoin leader.

Ethereum Supercycle: Here’s the Possible Target

In a recent commentary, Austin Arnold, the founder of Altcoin Daily, highlighted Lee’s bullish Ethereum outlook, predicting where the digital currency could end up over the next ten years.

He emphasized Lee’s view that Ethereum is in a super cycle similar to when the dollar left the gold standard in 1971 and will post staggering gains both in the near and long term. Furthermore, he spotlighted the Bitmine chairman’s prediction that Ethereum would hit $62,000 in a few years.

Notably, he projected that if Ethereum follows this predicted path, it would trade at $62,000 by 2035. This 10-year bullish outlook represents a 1,257% growth from its current market price of $4,570, taking its market cap to $7.48 trillion at a circulating supply of 120.7 million tokens.

Why Tom Lee Is Bullish on Ethereum

For context, Lee described stablecoins as the ChatGPT moment for the crypto industry, amid massive endorsement even from the US government. The GENIUS Act was passed by the US Congress in July, with Treasury Secretary Scott Bessent predicting the sector would grow to trillions of dollars in a few years.

Notably, Lee believes this would favor Ethereum, considering its pole position in the stablecoin sector. Recall that more than half of the circulating stablecoin supply exists on the Ethereum network, and he believes this places Ethereum in a good position to benefit from the increased traction.

The FundStrat CIO also noted that Wall Street and AI would converge on Ethereum. Remarkably, he does not share this sentiment alone; VanEck CEO Jan van Eck called Ether the “Wall Street” token in August, suggesting an impending mainstream recognition for the asset.

How Much Ethereum Do You Need to Become a Millionaire

Meanwhile, Arnold went a step further to calculate the amount of Ethereum an investor would need to become a millionaire if this Ethereum reaches $62,000 by 2035. He noted that one would need 16 ETH to be worth over $1 million. At the current price, one would spend $73,120 to buy that amount of Ether.

Moreover, he noted that even 14 ETH or 15 ETH could suffice if the holder stakes them. Recall that stakers receive value for staking their Ethereum to support the network’s security.

Here is Shiba Inu Best Shot at Reclaiming $0.00003

Albert Brown
-
0
Here is Shiba Inu Best Shot at Reclaiming $0.00003

Speculation is growing that a rate cut by the Federal Reserve could ignite a major crypto rally, boosting the prices of assets like Shiba Inu. 

Shiba Inu has struggled to mount a strong rally since December 2024, when it last traded above the $0.00003 mark. On December 8, the token reached a multi-month high of $0.00003329 following Donald Trump’s re-election. 

However, instead of sustaining the momentum, SHIB has steadily declined over the past nine months. It has fluctuated significantly between $0.00001 and $0.00002, losing over 60% of its value. 

Despite announcing several initiatives, including upgrading its decentralized exchange ShibaSwap, SHIB has yet to stage a rebound toward $0.00003. 

How a Potential Rate Cut Might Impact Shiba Inu 

Meanwhile, according to market commentators, Shiba Inu’s best shot at reclaiming the $0.00003 level may hinge on the U.S. Federal Reserve’s upcoming interest rate cut decisions. Market participants expect the Fed to slash interest rates later this week. 

Data from the CME FedWatch tool reflects this outlook, showing a 96.4% probability of a 25-basis-point rate cut to bring the target range down to 400–425 bps. However, the chances of a deeper 50-basis-point cut stand at just 3.6%. 

Fed rate cut prediction chart
Fed rate cut prediction chart

By cutting interest rates, borrowing becomes cheaper. Such a decision also encourages investments in riskier assets, like cryptocurrencies. Several industry commentators believe that a rate cut could spark the next wave of the 2025 bull run. 

For instance, popular investor ‘Merlijn the Trader’ predicted that the upcoming rate cut could propel Bitcoin to $150,000 and Ethereum to $10,000. 

The potential rally of the world’s two biggest cryptocurrencies could significantly lift the prices of other assets, with Shiba Inu expected to benefit from this move. If this happens, assets like Shiba Inu could benefit from a broader market rally, pushing its price to $0.00003 and beyond. 

Community-Driven Rally 

Despite the ecosystem team releasing projects like Shibarium to boost SHIB’s utility, the network’s adoption has stalled. Instead, Shiba Inu’s growth over the years has primarily been fueled by its dedicated community. 

Although momentum has waned in recent times following SHIB’s lackluster performance, some members have continued to promote the token across various social media platforms. 

With the Fed expected to cut interest rates, potentially making crypto investments more appealing, the Shiba Inu community’s enthusiasm could attract retail investors to allocate capital to SHIB. As demand soars, Shiba Inu’s price could revisit $0.00003 or surge beyond that level. 

Amid a broader market downturn, Shiba Inu has plunged 3.34% over the past 24 hours to $0.00001348. This comes hours after SHIB climbed above the $0.000014 mark. Therefore, hitting the $0.00003 would require SHIB to rally 122% from its current level.  

Uphold XRP Reserves Belong to Customers, Not Us, as This ‘Holding’ Is Built on Trust, Not Hype: Uphold CEO

Abdulkarim Abdulwahab
-
0
Uphold XRP Reserves Belong to Customers, Not Us, as This ‘Holding’ Is Built on Trust, Not Hype: Uphold CEO

Simon McLoughlin, CEO of the American exchange Uphold, has praised XRP holders for their trust and dedication to the platform.

He remarked that XRP holders are maintaining their position on Uphold solely based on trust, not hype.

McLoughlin expressed this view in a tweet over the weekend when clarifying a report about the massive amount of XRP tokens under Uphold’s custody.

 

Uphold Among Top XRP Holders

Notably, the exchange ranks among the top four largest XRP holders after Ripple. Specifically, one of Uphold’s wallets holds 1.579 billion XRP, worth close to $5 billion.

Aside from Ripple, the only wallets holding more XRP than Uphold’s are Binance and Bithumb, with 1.853 billion and 1.638 billion tokens, respectively.

Meanwhile, in his tweet, McLoughlin clarified that while it is usual for Uphold to secure a spot among large XRP holders, these holdings are not the exchange’s own portfolio but assets entrusted to it by users.

He went on to explain why XRP users have chosen Uphold’s services over many other centralized exchanges. According to him, people remember those who stood by them during difficult times.

For context, McLoughlin was referring to the late 2020 and early 2021 period when many U.S. exchanges distanced themselves from XRP. They delisted the coin after the SEC filed a lawsuit against Ripple.

Despite this, Uphold maintained its position and continued to support XRP throughout the lawsuit, never delisting the coin. It was the only major U.S. exchange that didn’t follow the trend. It continued to give U.S. investors exposure to the asset during tough legal times.

Why Uphold Never Delisted XRP

In a 2023 interview, the Uphold CEO explained their decision to continue listing XRP. He pointed to legal advice from Mike Zupon, former head of the SEC’s office, as the guide. When the SEC filed its complaint against Ripple in December 2020, Zupon advised that since the court had not yet adjudicated the case, they could still support XRP as it does not yet hold the status of a security.

Uphold believed it appropriate to maintain XRP trading until a court ruling said otherwise. Interestingly, when the SEC clarified it had never asked exchanges to delist XRP, this further reinforced their stance. This official statement further validated Uphold’s confidence in continuing to support XRP.

This commitment earned Uphold a strong reputation among XRP holders. To this day, XRP remains the most popular crypto asset on the platform.

“The Holding is Built on Trust, not hype”

In particular, the volume of XRP that users hold on the exchange supersedes their Bitcoin holdings by more than ten times, an unusual trend when considering other centralized exchanges.

Specifically, users’ Bitcoin on Uphold is worth $506.6 million, while users’ XRP on the exchange is worth over $6.19 billion, making it the largest crypto asset under its custody.

Commenting on this, McLoughlin said the building block is trust, not hype — and that makes a big difference.

Here’s Where XRP Could Land, If XRP Powers Same-Day Global Payroll

Abdulkarim Abdulwahab
-
0
Here’s Where XRP Could Land, If XRP Powers Same-Day Global Payroll

This article explores how XRP price could rise if it became the settlement layer for global payroll and gig economy payouts.

The global payroll and gig economy represent one of the largest untapped use cases for blockchain-based settlement. If XRP were to become the backbone of same-day global payroll and gig worker payments, the implications for its price could be transformative.

The Global Payroll and Gig Economy Market

Every year, the combined global payroll market, including both formal and informal wages, amounts to nearly $50 trillion. Within this, the gig economy alone accounts for over $455 billion in annual payouts today. Projections show it could exceed $1 trillion by 2030.

If XRP were adopted as a settlement rail for even a small fraction of these flows, its liquidity demand and market valuation could expand significantly.

Translating Adoption Into Capital Flows

At 1% adoption, XRP would be moving about $500 billion in payroll annually, or roughly $1.37 billion per day. At 3%, that figure rises to $1.5 trillion, and at 5%, nearly $2.5 trillion. For settlement to be seamless, XRP would need to maintain a liquidity float equal to about 5–10% of these flows.

That means $50 billion in float for 1% adoption, $150 billion for 3%, and $250 billion for 5%.

What This Means for XRP Market Cap and Price

With a circulating supply of 59.4 billion, these settlement flows translate into higher market capitalization and price projections.

At 1% adoption, XRP’s market cap could reach $222 billion by assuming a $50 billion float added to its market cap. This would place the price around $3.74.

At 3% adoption, using the same method, market cap rises to $322 billion with a price of $5.42.

At 5% adoption, market cap could expand to $422 billion, pushing XRP toward $7.11.

For comparison, XRP’s current market cap is near $166 billion with a price of $3.00.

It is worth noting that these scenarios assume only the direct addition of liquidity demand into XRP’s market cap. 

In reality, an inflow of $50 billion to $250 billion in settlement float could trigger a much stronger multiplier effect, driving prices well beyond these modeled ranges as liquidity depth, investor positioning, and speculative flows compound the impact.

As analyst Zach Rector has often argued, XRP could theoretically reach $100 per coin (a $6 trillion market cap) on $100 billion to $300 billion in inflows precisely because of this multiplier effect.

Payroll as the Killer App for XRP?

XRP’s original vision was tied to bank-to-bank settlement, but payroll and gig economy payouts may present an equally powerful real-world application. For millions of workers worldwide, the ability to receive same-day pay in local currency via XRP off-ramps could shift the global financial landscape.

In 2023, goLance CEO Michael Brooks disclosed that the platform uses XRP to pay freelancers quickly and affordably, especially in underserved markets. By leveraging the XRP Ledger, goLance enables instant, low-fee payments, solving delays and high costs common in regions like the Philippines.

Essentially, if XRP thrives in this market, the next major leap in its valuation may not come from Wall Street, but from the everyday paychecks of workers worldwide.

Legendary Analyst Peter Brandt Calls Huge Breakthrough for Dogecoin

Elendu Benedict
-
0
Legendary Analyst Peter Brandt Calls Huge Breakthrough for Dogecoin

Experienced trader Peter Brandt has identified a bullish price trend for Dogecoin, the largest meme coin by market cap.

Brandt shared in a recent tweet that Dogecoin has recorded a massive price breakout. Despite his reputation for being extremely strict and cautious in his trading strategy and asset choices, he has maintained his bullish stance on the joke-themed token, as confirmed by his Saturday post.

Huge Dogecoin Breakout

Specifically, Brandt reacted to Dogecoin’s recent push past $0.30 over the weekend. The prominent meme coin surged 11% to an intraday high of $0.3074 on Saturday, mirroring a broader market trend.

Nonetheless, DOGE has retraced considerably from the high, posting a 3.67% decline the day after to close the week at $0.2781. Notably, the September 13 push adds to a string of recent price growth for Dogecoin in the past few days, bringing its gains over the last seven days to 21.55%.

Moreover, it made Dogecoin the best-performing cryptocurrency in the top 15 assets by market cap over the past seven days. DOGE’s over 21% increase surpassed Solana’s 17%, Sui’s 9.63%, and HYPE’s 10% surge, which were the biggest outside Dogecoin.

Dogecoin Rally Despite Delayed ETF Launch

Notably, the price uptick comes despite a delay in the launch of the Rex Osprey Dogecoin exchange-traded fund (ETF). Initially, analysts shared that the investment product would launch on Thursday, September 11, but faced a delay.

The launch was rescheduled for September 12, but a similar roadblock occurred. However, Bloomberg ETF analyst James Seyffart has announced that the DOGE ETF will likely go live on September 18.

Nonetheless, the delay did not slow down the buzz around the Dogecoin ecosystem, as it continued to rally. It recorded a 3.70% growth on Thursday, followed by a 7.80% increase on Friday, before a 4.94% rally on Saturday.

More Upsides for Dogecoin?

Meanwhile, the recent surge could mark the beginning of a bullish price trend for Dogecoin. According to Bitcoinsensus, a significant move is coming for DOGE, as he expects an expansion within a broadening ascending channel.

Dogecoin Analysis/Bitcoinsensus

Specifically, he predicted that the next target for Dogecoin is $1.40, representing a 402% growth from its current market price of $0.2785. 

Moreover, the analyst expects this week to be massive, particularly with the anticipated launch of the first-ever meme coin ETF. He emphasized that the fund could trigger a new influx of capital into the Dogecoin market, as seen with the Bitcoin and Ethereum ETFs.

1...530531532...2,634Page 531 of 2,634