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Hoskinson Predicts Cardano Will Return to Top 10 in 2026 Before Becoming a Rocket Ship in 2027

Lele Jima
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Hoskinson Predicts Cardano Will Return to Top 10 in 2026 Before Becoming a Rocket Ship in 2027

Cardano founder Charles Hoskinson has expressed strong confidence in the network’s long-term outlook, arguing that Cardano will end 2026 in a much stronger position than it is today.

According to Hoskinson, Cardano is on track to regain a spot among the top 10 cryptocurrencies by market capitalization and could climb even higher. Looking further ahead, he projected that the network will become a “rocket ship” heading into 2027, reflecting his optimism about Cardano’s growth trajectory.

Cardano Continues Climbing the Crypto Rankings

Although Cardano spent years among the top 10 cryptocurrencies, it currently sits outside that elite group. However, the token has recently regained momentum. Earlier this month, ADA ranked as the 18th-largest cryptocurrency by market cap. Since then, Cardano has steadily climbed the CoinMarketCap rankings. 

At press time, ADA is the 14th-largest cryptocurrency with a market cap of $6.11 billion. The token briefly overtook Stellar to claim the 13th position before slipping back to 14th. Meanwhile, Monero poses an immediate challenge, with a market capitalization of approximately $6.09 billion.

To re-enter the top 10, Cardano must surpass Dogecoin, which currently holds a market capitalization of $11.49 billion. Based on current valuations, ADA would need to rally by roughly 88% to exceed Dogecoin’s market cap, potentially lifting its price from about $0.1678 to $0.3154.

While such a move may appear ambitious given ADA’s recent underperformance, Hoskinson believes the ecosystem’s ongoing technological progress provides a solid foundation for long-term growth.

Ecosystem Upgrades Fuel Hoskinson’s Optimism

Hoskinson’s confidence largely stems from several major developments taking place across the Cardano ecosystem.

Last month, Cardano’s development team launched the testnet version of Ouroboros Leios, with the mainnet release expected later this year. According to Hoskinson, the upgrade could make Cardano up to 60 times faster by the end of 2026, significantly improving the network’s scalability and transaction throughput.

In addition, the team recently launched Phase 1 of the RealFi testnet. The initiative aims to expand financial services to underserved populations while attracting new users and developers to the Cardano ecosystem.

Together, these technological advancements underpin Hoskinson’s belief that Cardano will strengthen its competitive position, reclaim a place among the industry’s top cryptocurrencies, and enter 2027 with significant momentum. 

How Trader Turns $838 Into $1.04M Trading Robinhood Meme Coin CASHCAT

Abdulkarim Abdulwahab
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0
How Trader Turns $838 Into $1.04M Trading Robinhood Meme Coin CASHCAT

A crypto trader turned an $838 investment into more than $1 million by trading the community meme coin CASHCAT.

The massive on-chain gain sparked speculation that the wallet may belong to crypto YouTuber Brian Jung, who separately said he also made more than $1 million trading the token.

Trader Earns 1,183x Return on CASHCAT

Notably, the trader spent 0.49 ETH, worth about $838 at the time, to buy 15.04 million CASHCAT tokens. The trader later sold the position for 580 ETH, worth about $1.04 million.

The trade generated a profit of more than $1 million. That represents a 1,183x return on the initial investment.

Meanwhile, Lookonchain noted that the trader exited before the token reached its peak. If the position had been held longer, the unrealized profit would have risen to about $2.9 million.

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The analytics platform also questioned whether the wallet belongs to Brian Jung. However, there is no on-chain confirmation linking the address to him.

Brian Jung Says He Cashed Out Over $1M

Around the same time, Jung posted on X that he had cashed out more than $1 million from CASHCAT.

He said holding the tokens longer could have produced “multiple seven figures” in additional gains. Still, he argued that traders should be satisfied with taking profits instead of dwelling on missed upside.

Jung added that the trade shows significant gains are still possible in the crypto market. He also shared a photo taken when CASHCAT’s market capitalization was around $100 million.

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CASHCAT Rally Produces Multiple Million-Dollar Trades

Notably, CASHCAT is a community meme coin on Robinhood Chain, an Arbitrum Layer-2 network. The token has surged amid heavy trading activity and community excitement around the new chain.

The latest trade is one of several remarkable CASHCAT stories. On July 8, Lookonchain reported that another trader turned just $86 into $1.6 million, a 19,061x return. The trader bought 17.5 million CASHCAT tokens and sold part of the position for $390,500. The remaining holdings were still worth about $1.24 million.

In another widely shared example, a trader spent just 0.04 ETH, or about $68, to buy 20 million CASHCAT tokens. The trader sold the entire position for only $711, locking in a 10x return.

However, those same tokens would later have been worth an estimated $3.5 million. The case highlights both the enormous upside and the timing risks of fast-rising meme coins.

Shiba Inu: Shibarium DEX Trading Volume Surges Over 1,500% as Network Activity Rebounds

Lele Jima
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0
Shiba Inu: Shibarium DEX Trading Volume Surges Over 1,500% as Network Activity Rebounds

Trading activity on Shibarium-based decentralized exchanges (DEXs) is showing signs of recovery after daily volume surged by more than 1,500% within 24 hours.

According to data from DeFiLlama, Shibarium’s DEX trading volume jumped 1,517%, rising from just $17 on July 9 to $275 on July 10. Notably, Shiba Inu’s native decentralized exchange, ShibaSwap, accounted for the entire $275 in trading volume.

Although the figure remains insignificant compared to rival blockchain ecosystems that process tens of millions of dollars in daily DEX volume, the increase represents a notable improvement from Shibarium’s recent performance.

Trading Volume Recovers After Weeks of Inactivity

The latest spike follows an extended period of minimal trading activity on the network.

Notably, Shibarium recorded no DEX trading volume from June 23 through the end of the month. Activity resumed at the beginning of July, but only $3 worth of trades were executed. Trading volume then climbed to $17 on July 9 before surging to $275 the following day, representing a 1,517% day-over-day increase.

While trading activity remains modest in absolute terms, the latest figures suggest that liquidity is gradually returning to the Shibarium ecosystem. 

Shibarium DEX Volume
Shibarium DEX Volume

Shibarium TVL and Transactions Soar

Meanwhile, Shibarium’s decentralized finance (DeFi) ecosystem has also expanded in recent weeks. At press time, the network’s total value locked (TVL) stood at $24,014, representing an 11.71% increase from its June 27 level. 

Additionally, TVL has risen by 1.50% over the past 24 hours, indicating continued growth in assets deposited across Shibarium-based protocols. Beyond decentralized exchange activity, overall network usage has also strengthened.

Data from Shibariumscan shows that daily transactions, which had remained below 2,000 since July 5, surged to 5,170 on July 10. This represents a 361% increase from the 1,120 transactions recorded on July 9.

Despite the recent slowdown, Shibarium has continued to process substantial on-chain activity throughout its lifetime. The network has now recorded more than 1.56 billion total transactions across approximately 18.06 million blocks.

The simultaneous rise in DEX trading volume, TVL, and daily transactions suggests that activity across the Shibarium ecosystem is gradually recovering after a prolonged period of weak on-chain engagement. 

Solana Flashes Fresh Buy Signal, One Massive Resistance Stands Before a Huge Rally to $100–$127

Abdulkarim Abdulwahab
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Solana Flashes Fresh Buy Signal, One Massive Resistance Stands Before a Huge Rally to $100–$127

Solana has flashed a new bullish technical signal after its SuperTrend indicator flipped to a “buy.”

The signal suggests the broader trend may have shifted in favor of buyers. However, the rally still faces a major test. SOL must break through a key resistance zone before it can target higher levels around $100 and $127.

At press time, Solana is trading at $78, down 5.54% over the past week but still up an impressive 20% on the monthly chart.

SuperTrend Flips Bullish Above $78

Notably, the bullish signal appeared after Solana broke above $78 on June 30. That move triggered a buy signal from the SuperTrend indicator on the three-day chart, and Solana subsequently posted a 16% gain, reaching $83.98.

Solana Chart Tradingview
Solana Chart TradingView

It is the first bullish flip since October 2025 and marks the end of a prolonged bearish trend. The previous SuperTrend sell signal came before a 74% decline in SOL’s price, making this reversal one that traders are watching closely.

The indicator now points to a broader bullish trend. If buying momentum continues, SOL could climb toward $100.

Solana Exchange Outflows and Network Growth Add Support

On-chain data also supports the improving technical picture. Between June 24 and July 3, investors withdrew about 1.5 million SOL, worth roughly $120 million, from cryptocurrency exchanges.

The outflows suggest investors are moving tokens into self-custody instead of leaving them on exchanges for sale. That could reduce near-term selling pressure.

Meanwhile, Solana added around 1.6 million new addresses over the past three weeks. The increase points to growing network activity and steady user participation.

Together, the exchange outflows, rising address count, and bullish SuperTrend signal suggest market conditions are improving.

$79–$85 Remains the Key Resistance Zone

Despite the stronger outlook, the $79–$85 range remains the biggest hurdle for bulls. According to UTXO Realized Price Distribution (URPD) data, around 105 million SOL changed hands within this range. That has created a dense supply zone where many holders may choose to sell once they break even.

A decisive move above $85 could clear this overhead resistance. It would also open the door to the next major target around $100, followed by $127.

If SOL fails to reclaim this zone, selling pressure could return as investors look to exit their positions.

A Drop Below $74 Would Weaken the Bullish Outlook

Downside risks remain. If SOL falls below $74, the SuperTrend indicator could flip back to a sell signal, invalidating the current bullish setup.

In that scenario, the chances of a deeper correction would increase. URPD data shows the next major support level sits near $53 if sellers regain control.

XRP Active Addresses Fall to Second-Lowest Level of 2026 as New Wallet Creation Hits 2024 Low

Mark Brennan
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XRP Active Addresses Fall to Second-Lowest Level of 2026 as New Wallet Creation Hits 2024 Low

The XRP Ledger has entered a period of noticeably weaker on-chain activity, as key network metrics fall to some of their lowest levels this year.

Data from Santiment shows that daily active addresses recently dropped to 25,350, marking the second-lowest level recorded this year. Meanwhile, new wallet creation fell to 2,130, its lowest point since November 2024. 

Notably, these figures show that activity on the network has slowed sharply, even though XRP continues to show resilience above the crucial $1 psychological mark.

This decline did not happen all at once, as active addresses gradually trended lower over several weeks after reaching stronger levels earlier in June. Each drop settled below the previous one until the latest reading, showing that participation on the network kept fading. 

The trend has also continued beyond the lows highlighted by Santiment. Specifically, daily active addresses have since fallen further to 22,888.

Mid-June Recovery Lost Momentum

While network activity saw a decline in early June, this trend briefly paused on June 15, when increased dip buying lifted XRP’s price and the number of active addresses. For a short time, the move suggested that interest in the network had returned and that activity could begin to recover.

XRP Network Activity Santiment
XRP Network Activity | Santiment

However, the momentum was short-lived. XRP soon corrected back to its familiar $1.05 to $1.15 trading range, while active addresses resumed their decline. The network never regained the activity levels seen before or during the brief rally.

Market data suggests that the rebound emerged as a result of short-term buying from existing holders rather than fresh demand entering the market. Notably, the network did not attract a noticeable wave of new users during that period. 

Data on XRP wallet creation supports this idea, as new address growth rose but failed to match the rally and uptick in wallet activity. Essentially, the increase in activity came mainly from users who were already on the network, not newcomers joining the XRP Ledger.

Stable Price Hides Falling Network Activity

Now, the XRP ecosystem is witnessing a widening gap between XRP’s price and XRPL on-chain activity. Specifically, while network participation has continued to weaken, XRP has held relatively steady around $1.0962. 

The token has avoided a major price breakdown below $1 even as active addresses and wallet creation have fallen to multi-month and year-to-date lows.

This gap suggests that existing liquidity and large holders have persistently supported the price despite fewer users actively engaging with the network. In a stronger market, price stability at these levels would usually come with growing network activity. 

XRP Still Needs a Strong Catalyst

Santiment believes several developments could help reverse the current trend and support a move toward $1.50. 

These include wider adoption of RLUSD, more tokenized assets on the XRP Ledger, increased institutional payment activity, continued expansion of the EVM sidechain, and the launch of lending tools. 

If these developments gain real traction, they could bring more users to the network and provide stronger support for higher prices. However, for now, the data shows little sign that those catalysts have started driving network activity.

Shiba Inu X Account Abandons SHIB for Two Meme Coin Rivals

Lele Jima
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0
Shiba Inu X Account Abandons SHIB for Two Meme Coin Rivals

Shiba Inu investors are questioning the project’s direction after the Shibtoken X account shifted its attention from SHIB to promoting other meme coins.

The broader cryptocurrency market has weighed heavily on Shiba Inu in recent weeks, pushing the token toward the bottom of the top 30 cryptocurrencies by market cap. 

Amid this prolonged downturn, many investors expected major ecosystem accounts to intensify SHIB-focused updates and strengthen community confidence. Instead, the Shibtoken account is once again promoting rival projects. 

Shibtoken Account Promotes Competing Meme Coins

Recently, the Shibtoken X account interacted with a post from a relatively unknown meme coin. It congratulated the project on its progress while praising its commitment to preserving meme culture through consistent development and community engagement.

Shortly afterward, the account commented on another little-known frog-themed meme coin, claiming it was superior to Pepe, one of the largest frog-themed cryptocurrencies. 

Since the original post prominently displayed the token’s contract address, many community members interpreted the interaction as an indirect endorsement that exposed Shibtoken’s 3.8 million followers to a competing asset. 

Shiba Inu X Account
Shiba Inu X Account

Community Questions the Purpose Behind the Promotions

The promotions quickly triggered backlash across the Shiba Inu community. Many holders openly questioned the account’s handler, asking why an account closely associated with Shiba Inu would promote rival meme coins while SHIB continues to struggle in the market.

Several community members argued that such promotions divert attention from SHIB at a time when the token needs stronger visibility and ecosystem support.

Although the Shiba Inu ecosystem has repeatedly stated that the Shibtoken X account is not the project’s official account, many investors still associate it closely with Shiba Inu.

When the account launched in February 2021, it focused almost exclusively on SHIB-related updates. That strategy helped it grow its audience to more than 3.8 million followers and established it as one of the largest accounts covering the Shiba Inu ecosystem.

However, as SHIB’s market performance has weakened, the account has gradually expanded its attention to other cryptocurrencies. It has promoted non-SHIB tokens on several previous occasions, drawing criticism from community members who believe the account should remain dedicated to the Shiba Inu ecosystem.

SHIB Remains Under Heavy Bearish Pressure

The latest controversy comes as Shiba Inu continues to face significant selling pressure.

SHIB currently ranks as the 30th-largest cryptocurrency, with a $2.59 billion market cap. The token trades at $0.000004398, while its 24-hour trading volume has fallen 3.83% to $48.63 million.

Market performance has also remained weak over longer timeframes. SHIB has declined 7.45% over the past month and 1.4% during the past week. Overall, the token remains 95.03% below its all-time high of $0.00008845.

Investors Call for Greater Focus on SHIB

Given SHIB’s prolonged downturn, many investors believe influential ecosystem accounts should concentrate on promoting Shiba Inu rather than other meme coins.

Critics argue that the Shibtoken account is directing the attention of its millions of followers toward rival projects at a time when SHIB needs stronger community support.

Meanwhile, some of Shiba Inu’s most prominent figures, including lead ambassador Shytoshi Kusama and marketing strategist Lucie, have remained inactive on X for several months. Their absence has left much of the ecosystem’s public engagement in the hands of the broader community, further fueling investor concerns about the project’s visibility and communication strategy. 

Swap Freedom Dollar (FUSD) On StealthEX. Fast & Secure!

PR DESK
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Swap Freedom Dollar (FUSD) On StealthEX. Fast & Secure!

StealthEX is excited to announce a new coin listing. Freedom Dollar (FUSD) is now available for instant exchanges on the platform. Users can seamlessly swap FUSD with hundreds of other cryptocurrencies in just a few clicks. Let’s explore what makes this privacy-focused stable asset unique and how StealthEX makes exchanging it simple and secure.

About FUSD

Freedom Dollar (FUSD) is a decentralized, overcollateralized stable asset built on the Zano blockchain. Designed to maintain a value close to one US dollar, FUSD combines price stability with the privacy features of the Zano network, offering users a censorship-resistant and confidential way to store and transfer value. Unlike traditional stablecoins, FUSD operates through open-source code and decentralized market-making mechanisms rather than a centralized issuer.

Here are some of the key features of FUSD:

  • Price stability. FUSD is designed to maintain a value close to 1 USD, making it suitable for payments, savings, and everyday crypto transactions.
  • Privacy by default. Built on the Zano blockchain, FUSD transactions utilize stealth addresses, ring signatures, and confidential transactions to keep transfers private.
  • The protocol has no central issuer or governing company. It is powered by open-source software and community participation.
  • Overcollateralized design. Every FUSD is backed by reserves of ZANO, providing additional security through overcollateralization while staking rewards help strengthen reserves over time.

There are many exchanges where users can swap BTC to FUSD, and StealthEX is one of the safest and most convenient options. StealthEX is a secure, instant crypto exchange service that allows users to buy and exchange FUSD without registration, hidden fees, or unnecessary delays. The platform offers competitive rates and supports fast swaps between Freedom Dollar and hundreds of other cryptocurrencies. You can exchange to and from FUSD in just a few minutes.

How to Buy FUSD: A Step-by-Step Guide

Getting FUSD on StealthEX is simple. Let’s imagine you want to exchange BTC for FUSD.

Step 1

Visit StealthEX.io and select Bitcoin (BTC) in the left drop-down menu. Then choose Freedom Dollar (FUSD) from the list of available cryptocurrencies on the right. Enter the amount of BTC you would like to exchange and click Start Exchange to continue.

Step 2

Provide your FUSD wallet address where you’d like to receive your coins. Make sure the recipient address is correct and double-check all the information before proceeding. Once everything looks good, click Next to move to the confirmation page.

Step 3

Review all exchange details, including your recipient address and the estimated amount of FUSD you will receive. Read and accept the Terms of Use and Privacy Policy, then click Next to proceed.

Step 4

You will now see the deposit address where you need to send your BTC. StealthEX will also generate an Exchange ID, which is recommended to save for tracking your transaction.

During the exchange, you’ll see several status updates:

  • Awaiting Deposit – waiting for your BTC transaction.
  • Confirming – your deposit is being confirmed on the blockchain.
  • Exchanging – your BTC is being exchanged for FUSD.
  • Sending to Your Wallet – your FUSD is on its way to your wallet.

Step 5

Once the exchange is complete, you’ll be redirected to the Finish page confirming that your swap has been successfully processed. You’ll also receive an Output Hash, allowing you to verify your transaction on the blockchain.

From there, you can either start another exchange or open your FUSD wallet to see your newly received funds. Most FUSD swaps on StealthEX are completed within just a few minutes. The same quick and straightforward process also works in reverse if you’d like to exchange FUSD for BTC or any other supported cryptocurrency.

Why Exchange FUSD on StealthEX?

StealthEX is a fast, secure, and non-custodial crypto exchange that supports over 2,000 digital assets and thousands of exchange pairs. The platform allows users to swap cryptocurrencies without creating an account, giving them full control over their funds throughout the entire exchange process. Thanks to its intuitive interface, competitive market rates, and reliable exchange partners, StealthEX makes swapping Freedom Dollar (FUSD) quick and hassle-free. Whether you’re adding FUSD to your portfolio or exchanging it for another cryptocurrency, StealthEX offers a seamless experience with transparent pricing and no hidden fees.

Disclaimer: This Press release article is provided by the Client. The Client is solely responsible for this page’s content, quality, accuracy, products, advertising, or other materials. Readers should conduct their own research before taking any actions related to the material available on this page. The Crypto Basic is not responsible for the accuracy of info and any damage or loss caused or alleged to be caused by the use of or reliance on any content, goods, or services mentioned in this press release article.

Please note that The Crypto Basic does not endorse or support any content or product on this page. We strongly advise readers to conduct their own research before acting on any information presented here and assume full responsibility for their decisions. This article should not be considered investment advice.

Why XRP to $7 This Year Remains in the Cards

Mark Brennan
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Why XRP to $7 This Year Remains in the Cards

While XRP has suffered significant losses this year, chart data indicates that a recovery toward new highs is not completely impossible.

XRP has remained under pressure in recent weeks, slipping to around $1.10 after posting a weekly loss of just over 5%. Despite the decline, the token still trades above one of the most important support areas on the weekly chart, which keeps the larger bullish setup intact.

Notably, the latest pullback has brought XRP to a major technical level that could determine its next major move. With about six months left in 2026, the chart still leaves room for a substantial recovery if buyers continue to defend this zone.

XRP Fibonacci Levels Support the Trend

A major part of the bullish outlook comes from XRP’s position on the Fibonacci retracement chart. The price remains above the 0.382 retracement level at $1.05, a level that continues to support the broader upward structure.

Notably, the Fibonacci grid begins at the cycle low around $0.50 and extends to price targets above $11. Over the past few years, XRP has repeatedly reacted around these levels, confirming their importance. As long as the price stays above the 0.382 retracement, the long-term trend remains intact.

This support also sits within a wider demand zone that stretches from about $0.79 to $1.05. Holding above this range on the weekly chart suggests buyers still have the upper hand despite the weakness in XRP’s short-term price action.

The Current Position Resembles XRP’s Previous Breakout

The current chart shares several similarities with the setup that came before XRP’s November 2024 rally. At that time, the token spent months moving inside a descending wedge before breaking higher and gaining more than 500% in roughly a month.

The same structure has appeared again. XRP has spent another extended period trading within a descending wedge as it gradually builds support underneath. The price is approaching the point where breakouts often happen as the trading range continues to narrow.

XRP 1W Chart
XRP 1W Chart

Importantly, using the size of the previous rally as a guide places the next major target near the 1.414 Fibonacci extension at about $7.88. This projection puts the widely discussed $7 price target within reach if XRP follows a path similar to the last breakout.

Several Signals Point to the Same Area

The bullish case does not rely on Fibonacci levels alone. A long-term ascending trendline that has supported XRP since 2023 now meets the broader demand zone around the current price. Meanwhile, the descending resistance continues to squeeze the market into a tighter range.

When several signals come together in one area, the market responds with a larger move once price breaks in either direction. The horizontal support, Fibonacci levels, and the long-term trendline make the current zone one of the most important on the chart.

The area around $1.06 remains the key level to watch in the near term. Holding above it would keep the current structure intact and improve the chances of a breakout above the descending resistance rather than another leg lower.

Why a Move to $7 Still Looks Possible

Many investors continue to question whether XRP can reach $7 before the end of the year. However, the weekly chart has yet to weaken that outlook. Instead, it shows that XRP continues to build support as it stays above a critical long-term level.

If XRP holds its current structure and breaks above the descending wedge, the 1.414 Fibonacci extension around $7.88 could come within reach. Beyond that level, the chart points to the 1.618 Fibonacci extension near $11.74 as the next major upside target.

Whether XRP reaches those prices will depend on buying momentum over the coming months, but the current technical structure continues to support the idea that a move toward $7 remains a realistic possibility before the end of 2026.

Dogecoin Revisits Historical Buy Zone as Familiar Setup Targets Massive Gains

Elendu Benedict
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Dogecoin Revisits Historical Buy Zone as Familiar Setup Targets Massive Gains

Dogecoin is revisiting a historical accumulation zone, with the current setup mirroring earlier cycle bottoms that have previously preceded major rallies.

Dogecoin (DOGE) is once again trading in a price region that historically aligns with key accumulation areas. Data from the monthly chart shows that the current setup closely resembles previous market cycles where prolonged consolidation eventually gave way to massive upside moves.

Familiar Dogecoin Setup

The 1-month chart shows that DOGE has repeatedly found support after extended corrections before starting strong rallies. In each previous cycle, the asset’s price offers the first entry point, then stabilizes at a long-term support trendline. Dogecoin then provides the last entry point before it starts a massive expansion phase.

For context, DOGE gave the first entry when it bottomed at $0.000086 in May 2015. After that, the coin formed a support around $0.000198 in April 2016 and consolidated above it until February 2017. What followed was a 1,823% rise to $0.0040 in May 2017.

Dogecoin 1M Chart Analysis
Dogecoin 1M Chart Analysis

The same thing happened in the next cycle. Dogecoin gave its first sniper entry at the low of $0.00065 in September 2017. Subsequently, it found support around $0.0018 in February 2019 and consolidated around it until March 2020.

Between April 2020 and May 2021, DOGE rallied an impressive 41,011%, reaching its current all-time high of $0.74.

Current DOGE Price Level Aligns with Previous Cycle Bottoms

The current market structure appears to be following a similar path. Dogecoin gave its first perfect entry at $0.056 in October 2023. The meme coin also formed a long-term support at $0.0805 in August 2024 and, in June, retested it.

While the pullback has taken it slightly below the horizontal support region, the structure remains intact. This is because it still trends above a broader ascending support line that has guided its price since October 2023.

Meanwhile, the current price level presents the last entry point to buy DOGE at a discount, according to history. What has followed this period is a strong price reversal and the start of an impulsive move to unprecedented price levels.

Dogecoin Target and Key Uptrend Requirement

If history repeats, Dogecoin could be nearing its bottom here. Since each rally from here has seen it surpass the previous high, the first target could be around $0.80, representing a 981% increase from the current price of $0.074.

In an ultra-bullish scenario, DOGE could finally break the $1 barrier and even target $2. This culminates in a 1,251% to 2,602% growth from here.

Nonetheless, while the historical comparison is encouraging for bulls, confirmation is still necessary. Dogecoin needs to maintain support around the current accumulation area and show signs of recovery to confirm this pattern.

If buyers defend this region around $0.066 successfully, the setup could produce massive gains like the previous cycles. However, a decisive move below the support zone would invalidate the pattern and force the token downwards.

Big Whales Reopen $22.5M SKHX Long Ahead of SK Hynix Nasdaq Debut

Abdulkarim Abdulwahab
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0
Big Whales Reopen $22.5M SKHX Long Ahead of SK Hynix Nasdaq Debut

A crypto whale has reopened a large leveraged position on Hyperliquid’s SKHX perpetual market. 

The move comes just days after the trader took a multi-million-dollar loss, as market participants continue positioning ahead of SK Hynix’s expected Nasdaq debut.

On-chain data shows wallet 0x66F4 deposited 20.32 million USDC into Hyperliquid. It then opened a 2x leveraged long position of 15,121 SKHX, worth about $22.5 million.

Onchain Lens Breaks Down the Trade

Blockchain tracker Onchain Lens also reported the latest transaction. It said this was the wallet’s first trade since May 23. The position was opened at $1,480.57, with a liquidation price of $145.24.

At the time of reporting, the trade showed an unrealized loss of about $123,555. Moreover, the wallet’s lifetime trading record remained down by roughly $89,700.

Source: https://hyperbot.network/trader/0x66F463866512FC337C89baD2032acBE38ee38836
Source: https://hyperbot.network/trader/0x66F463866512FC337C89baD2032acBE38ee38836

Whale Bets Again After $4.4M Loss

The latest trade comes about a week after a separate whale lost $4.4 million on a previous SKHX long position. Despite that setback, the trader returned with another 2x leveraged long.

The position covered 21,207 SKHX worth roughly $30.17 million. At the time of the update, it was showing an unrealized gain of about 1,322,707.

The renewed position suggests the whale remains bullish on the synthetic pre-IPO market despite recent losses.

Source: https://hyperbot.network/trader/0x9dcf1c87b82a35519a430457c1157f21e68f302d
Source: https://hyperbot.network/trader/0x9dcf1c87b82a35519a430457c1157f21e68f302d

Another Trader Keeps Accumulating

Onchain Lens also highlighted another trader, yixie (@yixie10), who has generated more than $9.42 million in lifetime profits. The trader currently holds 1,840 SKHX, valued at about $2.79 million. The position has an unrealized gain of roughly $324,300.

The trader has also placed a TWAP order to buy another $1.05 million worth of SKHX. The order targets a price range between $1,488 and $1,520, suggesting continued accumulation.

Open Interest Surges Before Listing

Interest in SKHX has continued to build ahead of SK Hynix’s expected Nasdaq listing on Friday.

According to data shared by GoldRush, open interest in SKHX perpetual contracts on Hyperliquid reached about $250 million. The contracts also recorded $880 million in 24-hour trading volume. SKHX was trading near $1,571.23, up 8.2% over the past 24 hours.

Fhenix contributor Zenonchain said the strong open interest ahead of the public listing reflects solid demand for pre-IPO exposure. He compared the activity to earlier synthetic markets tied to SpaceX and Cerebras.

Zenonchain also noted that the Hyperliquid Stocks sector gained 6.1%, highlighting growing interest in tokenized pre-IPO assets.

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