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Ethereum Pectra Upgrade Nears Mainnet Launch After Successful Testnet Transition

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Ethereum’s long-awaited Pectra upgrade is one step closer to reality following a successful integration on the Sepolia testnet with a near-perfect proposal rate.

Ethereum core developer Terence disclosed this development in a tweet today. This marks a key milestone ahead of the planned mainnet launch in mid-March 2025.

The Pectra upgrade includes several significant Ethereum Improvement Proposals (EIPs). It aims to enhance validator efficiency, scalability, and network security.

Sepolia Testnet Successfully Implements Pectra Hard Fork

The smooth transition of the Sepolia testnet to the Pectra upgrade suggests that Ethereum is well-prepared for the upcoming mainnet launch.

The upgrade follows successful prior testing on the Holesky testnet in February 2025, which addressed issues such as chain splits to ensure stability ahead of deployment.

These modifications create the foundation for a more scalable and reliable blockchain by introducing features like account abstraction, better validator restrictions, and increased Ethereum consensus mechanism efficiency. 

What’s Inside the Pectra Upgrade?

Ethereum is putting itself in a position to handle higher transaction loads, improve user accessibility, and strengthen network security by incorporating these three key EIPs into its Pectra upgrade:

  • EIP-2935: Enhance history expiration mechanism, optimize storage, and for cross-chain applications and Rollups
  • EIP-7002: Enables stakers to trigger exits using their withdrawal keys, enhancing security and simplifying the exit process
  • EIP-7251: Increases the validator limit, enabling better decentralization and staking flexibility.

Market Sentiment and Price Volatility

Amid the anticipation of this upgrade, Ethereum’s market performance is showing signs of strength. Trading at $2,167, it saw a 24-hour trading volume of $32.85 billion, indicating that investor interest is high as the upgrade approaches.

However, Ethereum’s price remains volatile, having recently tested significant support levels. After a sharp decline, the cryptocurrency is approaching the psychological $2,000 threshold, raising concerns about a potential downturn.

With the successful testnet implementation, Ethereum developers are now preparing for the Pectra mainnet upgrade by mid-March 2025.

If all goes as planned, the Pectra upgrade will stand as one of Ethereum’s most significant improvements, enhancing network performance and further solidifying Ethereum’s position as the leading smart contract platform.

Analysts Say XRP is Attempting to Break the Largest Resistance in History Against Ethereum

XRP is approaching a key resistance level against Ethereum, a threshold that has historically triggered parabolic rallies.

Analyst Dom drew attention to this development in a post on X today. According to him, at the current price level, XRP is attempting to overcome the most significant resistance in history against Ethereum.

The XRP/ETH chart accompanying the update shows that every time XRP has broken above 0.0012 ETH, it has surged by at least 160%. Notably, XRP/ETH is currently at 0.0011233, suggesting that a major move could be on the horizon for XRP.

Historical Instances for XRP/ETH Breakout

An analysis of past cycles, including early 2017, late 2017, and early 2018, reveals a recurring pattern. Once XRP decisively cleared the 0.0012 ETH barrier, it experienced rapid gains within a short time frame.

Now, in 2025, XRP is again testing this level, raising speculation about whether history will repeat itself.

Analyst Dom highlighted this setup, emphasizing that breaking this resistance could see XRP outperform ETH significantly. He stressed that even a half-sized rally (80%) would still position XRP as a major market mover against Ethereum.

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XRP/ETH chart by Dom

XRP to Outperform Ethereum in Multi-Month Bullish Streak

The sentiment builds on Dom’s ongoing calls about XRP flipping Ethereum in this bull season. He pointed out that since November 2024, XRP has risen by 483% against Ethereum. Now, while XRP looks set to gain more ground against ETH, it is currently battling a historic resistance.

According to him, this could mark the beginning of a major shift, with ETH severely underperforming or XRP significantly outperforming. He believes that once the barrier is overcome, XRP will enter another multi-month streak of outperformance compared to Ethereum.

On the USD chart, Ethereum is already lagging massively compared to XRP. Since the start of this year, Ethereum’s price has dropped by 33%, while Bitcoin has only dipped by 3.7% over the same period. Meanwhile, XRP boasts an impressive year-to-date gain of 19%.

With price action heating up, Dom disclosed setting alerts for a confirmed breakout in XRP/ETH.

Beyond the XRP/ETH chart, many now believe within the crypto community that XRP will overtake Ethereum’s position to become the biggest altcoin, trailing only Bitcoin.

Here’s How Key Ethereum Holders Behaved Amid the Latest Dip: Glassnode

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Ethereum investors have been actively managing their positions during recent price swings, according to blockchain analytics firm Glassnode. 

According to the firm, after a sharp rally to $2,500, Ethereum’s price retraced to $2,050, a price region the asset last witnessed in November 2023. Data shows that investors moved capital strategically across different price levels, looking to navigate the dip.  

How Key Ethereum Holders Behaved

Per a three-month analysis, investors who initially acquired ETH at $3,500 adjusted their exposure significantly in February. They entered the market at the peak of $2,500 and the recent low of $2,050. These investors now hold 1.75 million ETH at an average cost basis of $3,200, effectively reducing their initial entry price by around 10%.  

Glassnode
Glassnode

 

Glassnode also revealed that on March 1, investors amassed roughly 500,000 ETH at around $2,200. However, they quickly redistributed these holdings when the price touched $2,500. 

Additionally, a major resistance zone has emerged at $2,800, where market participants accumulated approximately 800,000 ETH. This suggests that if Ethereum’s price rebounds, $2,800 will be a crucial level for traders to watch.  

Other analyses confirm the growing accumulation among whales. Market pundit Ted pointed out today that a whale investor recently purchased 17,855 ETH, worth approximately $36 million, at an average price of $2,054. 

This whale’s total Ethereum holdings now exceed $2.5 billion. Notably, this reflects the accumulation trend, as large investors see the current price as an opportunity.  

Ethereum in a Favorable Position?

Moreover, CryptoQuant analyst MACD suggested that ETH might be in a favorable position despite the current price struggles. According to him, the MVRV ratio has dipped below 1, signaling an undervalued zone. In previous bull cycles, this level preceded significant price surges. 

Ethereum MVRV Ratio CryptoQuant
Ethereum MVRV Ratio | CryptoQuant

In addition, he noted that the number of Ethereum accumulation addresses, which receive ETH but never withdraw it, has also risen sharply. This suggests that institutional investors are building their positions during the current downturn.  

Despite these bullish signals, MACD stressed that broader economic conditions still influence the crypto market. He noted that U.S. liquidity policies, tariff measures, and monetary strategies could continue to create downward pressure on asset prices. 

Ideal Buy Opportunity 

Interestingly, looking at Ethereum’s technical patterns, market analyst Crypto Rover suggests the altcoin presents an attractive buy opportunity. Data from his chart shows that ETH has been trading within a horizontal channel since March 2024. 

Every retest of the trendline has led to a sharp move in the opposite direction. Since its surge to $4,097 in December 2024, Ethereum has been in a downward trend, recently touching the lower trendline again. If history repeats, a breakout to the upside could follow.  

Meanwhile, another analyst, Da Crypto General, highlighted Ethereum’s performance against Bitcoin. According to him, ETH/BTC has reached a major support level and is displaying bullish momentum after retesting the discount zone. 

He also believes this is an ideal buying opportunity, both for short-term traders looking for scalps and for long-term investors adding to their holdings.  

Top 15 Dogecoin Addresses: Who are the Top Holders of DOGE?

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The top 15 Dogecoin addresses account for nearly 50% of the token supply.

“Who are the top holders of Dogecoin?”

That’s one of the most asked questions around the leading doggy-themed memecoin.

The question is made more critical by BitInfoCharts data suggesting that almost 50% of the memecoin supply is controlled by just 15 addresses. Does this data tell the whole story?

We take a look at who controls these wallets using blockchain data.

Robinhood (DEgDVFa2DoW1533dxeDVdTxQFhMzs1pMke): This address holds the most Dogecoin of any wallet. Specifically, it has almost 29 billion DOGE worth nearly $6 billion or over 19% of the circulating supply. 

Per Arkham data, this is the cold wallet of the popular U.S. trading platform Robinhood. This implies that the wallet is primarily used to store assets on behalf of customers instead of actively trading, which is why it has unsurprisingly received over 36 billion DOGE since May 2023 and sent out only about 7 billion DOGE.

Upbit (D8ZEVbgf4yPs3MK8dMJJ7PpSyBKsbd66TX): This address boasts the second-largest DOGE holdings, with 8.9 billion DOGE worth $1.8 billion.

According to Arkham Intelligence data, this is the cold wallet of the leading Korean exchange, Upbit. It is unsurprising that Upbit holds a lot of Dogecoin, as the Korean crypto trading scene is widely regarded as retail-dominated and highly speculative.

Binance (DE5opaXjFgDhFBqL6tBDxTAQ56zkX6EToX): No surprise, in third place is a Binance cold wallet. This wallet holds nearly 8 billion DOGE worth about $1.6 billion. For the uninitiated, Binance is the world’s largest crypto exchange by volume.

Crypsty (DDTtqnuZ5kfRT5qh2c7sNtqrJmV3iXYdGG): This wallet belongs to the defunct crypto exchange Cryptsy. It boasts the fourth-largest holdings of any Dogecoin wallet, with 5 billion DOGE worth over $1 billion.

The fate of these holdings is unclear, as Cryptsy entered receivership in 2016 amid claims of fraud and mismanagement.

Binance (DU8gPC5mh4KxWJARQRxoESFark2jAguBr5): The fifth largest is another Binance cold wallet. This holds nearly 4.8 billion DOGE worth over $980 million.

OKX (ADNbM5fBujCRBW1vqezNeAWmnsLp19ki3n): The sixth largest DOGE wallet is an OKX hot wallet, according to Arkham data. This means the exchange uses this to satisfy regular trading liquidity needs on the exchange.

It holds 4 billion DOGE worth over $831 million.

Binance (DGmzv39riELTuigZCUD6sWoHEHPdSbxdUB): The seventh largest DOGE address is another Binance cold wallet. It holds over 2 billion DOGE worth about $430 million.

Dogeparty Burn Wallet (DDogepartyxxxxxxxxxxxxxxxxxxw1dfzr): This address holds nearly 1.9 billion DOGE worth over $376 million and is the eighth largest holder of the asset.

It is the burn address of the once-popular Dogecoin project Dogeparty. The DOGE it holds has been permanently removed from circulation due to its function as a burn address.

The rest of the top 15 address holders are as follows:

Robinhood (DDuXGMFNGpGjaAqyDunSMvceMBruc1wwKF): 1.5 billion DOGE worth over $307 million.

Bybit (D94tDRhr4X9Tjgr8MG1Nrd5ARpesPAM7ZB): 1.1 billion DOGE worth over $224 million.

Kraken (DBdiAmrND25pM7DW7awqiL696yx9x9q4dD): Over 1 billion DOGE worth over $215 million.

Gate.io (DAAhXpPfziaCcGweJMWE4RSucLcee7NcqL): Over 1 billion DOGE worth over $210 million.

Unknown (D9a1Ah7mUNAJwNqHPER4DN9zNLoqcYFDZW: 1 billion DOGE worth nearly $203 million.

Unknown (DM9mYjhphV4cvBE9yMdNU9fQC4KLuK5M33): 1 billion DOGE worth about $203 million.

Poloniex (D8WhgsmFUkf4imvsrwYjdhXL45LPz3bS1S): 1 billion DOGE worth nearly $203 million.

Bitcoin Sees Extended Extreme Fear as Open Interest Falls: 2X Rally Incoming?

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Several key Bitcoin metrics are in the dumps, but there may be a silver lining.

Amid Bitcoin‘s price struggles, which have seen it swing wildly between mid-$80,000 and the $100,000 level over the past few weeks, market sentiment has been in decline.

According to the Fear and Greed Index, this culminated in an extended Extreme Fear reading over the weekend as trade war fears and panic selling hit a fever pitch.

Fear and Greed Index
Fear and Greed Index. Source: Kronos Research

The Fear and Greed Index gauges market sentiment using volatility, market volume, social media mentions, Bitcoin dominance, and Google Trends.

Beyond market sentiment, open interest in the leading digital has also plummeted recently. Specifically, recent CryptoQuant data suggests that this metric, which can often be used to gauge speculative interest, has dropped 22% in the past ten days alone, from 327,000 BTC to 225,000 BTC.

Bitcoin open interest
Bitcoin open interest. Source: Axel Adler Jr

Despite the decline in these metrics, there may be a catch.

Rebound Incoming?

For one, leading crypto research firm Kronos Research has noted that the last time Bitcoin recorded extended Extreme Fear readings on the Fear and Greed Index like this was in September 2024, when it traded for about $53,000. As the firm highlighted, the asset’s price doubled to over $106,000 in the months that followed.

At the same time, prominent crypto analyst Axel Adler Jr has contended that the recent decline in Bitcoin OI may “indicate a clearing of overheated positions, potentially setting the stage for a new market impulse.”

The crypto market experienced a resurgence on Sunday as President Donald Trump reiterated crypto reserve plans. Bitcoin, in particular, surged over 9% to around the $94,000 price point.

But most of these gains were given away as markets panicked over trade war concerns on Monday. All eyes are now on the White House’s first crypto summit slated for Friday, which is expected to provide a market catalyst.

Meanwhile, Standard Chartered Head of Digital Assets Research Geoffrey Kendrick has warned that risk assets like Bitcoin may struggle to find a bottom till the market gains clarity on growing geopolitical concerns.

According to the analyst, a further drop in Bitcoin’s price to the $69,000 to $76,500 range is not out of the question.

Robinhood Lists Arbitrum, ARB Token Surges 15% Following Announcement

Prominent U.S.-based crypto exchange Robinhood has announced the listing of Arbitrum (ARB), an Ethereum Layer 2 solution with a market cap of $1.8 billion.

The exchange confirmed the listing via its social media handles, noting that the ARB token is now tradable on its platform. ARB joins 22 other crypto assets that Robinhood supports for trading activities.

Other supported tokens include XRP, Ethereum, Cardano, and even meme coins like Shiba Inu, BONK, and dogwifhat (WIF).

Meanwhile, there are still several notable coins that Robinhood has yet to list. Prominent names among them include TRON (TRX), BNB, and Algorand (ALGO). For these coins, the platform only provides real-time market data without supporting trading activities.

Robinhood’s Listing Approach

Robinhood is known for its cautious approach to listings. In the past, it has avoided listing even some of the most prominent crypto assets in the market, such as XRP and Cardano, due to regulatory concerns.

Despite its regulatory caution regarding crypto asset listings, the platform faced scrutiny from the U.S. SEC under the regulator’s previous leadership.

However, with a change in leadership, particularly the acting chair, Mark Uyeda, the SEC has dropped its investigations into Robinhood and pursued no enforcement actions after previously issuing a Wells notice.

According to Dan Gallagher, Chief Legal Officer, the investigations should never have occurred, stating that they were a pointless exercise as the platform has always aimed to be in good standing with regulators.

Nonetheless, Robinhood expressed gratitude for the formal closure of the investigation and voiced optimism about a return to fairness and clarity from the SEC.

Amid these changes, Robinhood is now welcoming more tokens, some of which it had previously distanced itself from due to fears of regulatory actions from the SEC.

ARB Price Soars

Following the announcement of ARB’s listing, the price of the token surged significantly. Specifically, the coin has risen by over 15%, trading at $0.4220, up from the earlier intraday low of $0.3519.

ARB pric soars amid listing annoccement
ARB price soars amid listing announcement

US Commerce Secretary Says Bitcoin Will Be Treated Differently From Other Crypto Reserve Assets

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President Donald Trump is expected to unveil the strategic digital asset reserve model at the upcoming White House Crypto Summit.  

Howard Lutnick, the U.S. Secretary of Commerce, stated this during an interview with Ksenija Pavlovic McAteer of Pavlovic Today. According to Lutnick, Trump will unveil the model of the U.S. crypto reserve at the Crypto Summit, slated for March 7 at 1:30 PM (ET). 

Recall that Trump recently ordered the Presidential Working Group on Digital Assets to move forward with the U.S. crypto reserve. He revealed plans for a multi-asset reserve instead of one focused on Bitcoin. 

Per the announcement, the reserve will feature Bitcoin and four other altcoins, including Cardano, XRP, Ethereum, and Solana. 

Bitcoin Will Be Treated Differently From Other Reserve Cryptos 

With Trump expected to reveal more details about the reserve at the White House Crypto Summit, Lutnick provided hints on what investors should expect. 

Notably, the Secretary of Commerce emphasized that the U.S. government will treat Bitcoin differently than other supported crypto assets. He suggested that altcoins will receive favorable treatment but cannot be compared to how BTC will be treated. 

Since the presidential campaign, Trump has indicated an interest in establishing a Strategic Bitcoin Reserve. The initiative requires the United States to acquire and hold Bitcoin for a specific period. 

Following Trump’s reelection, several crypto stakeholders, including Ripple CEO Brad Garlinghouse, lobbied for a multi-asset reserve instead of a Bitcoin-only stockpile. 

Despite Trump’s support for the initiative, Lutnick believes Bitcoin will be treated differently from other crypto assets featured in the reserve. 

Trump to Unveil His Vision for Crypto Regulation 

It remains unclear what details about the crypto reserve will be unveiled at the White House Crypto Summit. Notably, White House AI and Crypto Czar David Sacks will chair the event, and Bo Hines will administer it.

About 25 participants are expected to attend the summit, including a few prominent figures from the crypto industry and members of the Presidential Working Group on Digital Assets. Notably, Lutnick is a member of this group, which was created in January. 

Besides the crypto reserve, Lutnick suggested that Trump will also outline his vision for crypto regulation. The U.S. President has signaled his commitment to providing clear and fair rules for crypto. In January, he tasked the Presidential Working Group to provide a federal regulatory framework for the crypto industry. 

Also, he appointed several pro-crypto advocates to sensitive federal agencies, ranging from the SEC to the Treasury, who are expected to provide the industry with much-needed clarity. 

Sygnum Bank Expands Off-Exchange Custody to Include Bitcoin and Crypto Options Platform Deribit

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Zurich-based digital asset bank Sygnum has added Bitcoin options and derivatives platform Deribit to its off-exchange crypto custody platform.

Amid growing cyberattacks on exchanges, Deribit has sought options that prevent its assets from hacks. To weather this trend, the prominent Bitcoin and crypto options platform has partnered with Sygnum to enjoy asset off-exchange solutions.

On Wednesday, Sygnum, the world’s first digital asset bank, announced Deribit’s integration into its off-exchange custody platform, Sygnum Protect. The platform will allow users of the leading derivatives platform to store their assets on the off-exchange solution while receiving the same liquidity on Deribit as though their funds were there.

Deribit Embraces Off-Exchange Solutions

Recall that on February 21, North Korea’s notorious hackers, Lazarus Group, hacked prominent crypto exchange Bybit for $1.46 billion. The sophisticated exploiters gained access to the exchange’s cold wallet after tricking the signers of the multi-signature address into giving them full authority. The attackers have since laundered all the stolen funds.

To avert a similar occurrence for Deribit, the options trading platform has forged an alliance with Sygnum to provide institutional-grade custody solutions. The duo will leverage Fireblock’s Off-Exchange technology to mirror funds custodied with Sygnum on Deribit.

Meanwhile, the new custody initiative would decimate counterparty risks while trading on Deribit and ensure funds are safe. Notably, Sygnum is the first digital bank to launch an off-exchange solution for institutional traders, debuting the service in 2024.

Innovation to Provide Extra Security

Luuk Strijers, Deribit’s CEO, lauded the recent collaboration, which he said brings an extra layer of security and transparency for its institutional traders. He added that Sygnum Protect provides institutional-grade protection and assurance to explore the platform’s derivative products.

The Zurich-based digital platform recently raised $58 million in a funding round in January, taking its valuation to $1 billion. In October, Sygnum predicted that Solana would contest Ethereum’s dominance amid growing institutional adoption.

Top Financial Analyst Says You Wanted Lower XRP Price – This is It, Don’t Miss This Opportunity

Popular financial author Linda Jones has urged the investing public to seize the opportunity of the current low XRP price to accumulate more of the token.

Jones made this call in a post on X (formerly Twitter) on Tuesday amid the fresh round of market downturns for the new month. She reminded those who had expressed concerns about XRP’s high prices that the market was experiencing a major correction.

Rather than panic and flee from the market, she urged investors to see it as an advantageous moment to buy XRP at a discount. “You wanted a lower XRP price. This is it,” the American wealth mentor wrote.

XRP Price Dip and Diverging Market Reactions

Between March 3 and 4, XRP price dropped by 26%, from $2.99 to $2.20, as the broader market turned bearish following the Trump-induced price pump.

This caused widespread panic, with some analysts pointing to a bearish head-and-shoulders pattern that warned of further price declines.

One analyst, Ali Martinez, even suggested that XRP could fall to $1 amid the Tuesday bearish market.

In the face of this panic, fear, and uncertainty, Jones urged the investing public to reject the bearish sentiment and buy more XRP. She warned market participants not to miss this opportunity, as she expects higher prices soon. In fact, her post included a GIF showing XRP on an explosive price moonshot.

XRP to the moon
XRP to the Moon

Other pro-XRP commentators, like Egrag, have expressed a similar view on XRP dips. In a post, he stated that the price at which one bought XRP won’t matter in the coming years. According to him, the only thing investors would wish for is that they bought more.

Already, XRP is rebounding impressively from yesterday’s price slump. As of today, XRP has hit an intraday high of $2.52, marking a recovery of around 14.55% from yesterday’s low.

Critics Say XRP Pump Means Time to Short

While optimism around XRP’s performance continues to run high among enthusiasts, critics remain skeptical. In a tweet today, an X user remarked that the ongoing relief rally could be a bull trap. He argued that every XRP pump is an opportunity to short the market.

“They manipulate you into believing it’s the right time to buy, creating a lasting attachment to XRP so they can sell,” he said.

Dogecoin Could See Massive Price Rebound Anytime Soon as Analyst Highlights Dragonfly Doji and Mean Reversion Theory

Dogecoin (DOGE) may be about to undergo a bullish reversal, according to crypto researcher Trader Tardigrade, who recently provided important technical insights on X. 

The appearance of a Dragonfly Doji candlestick and Dogecoin’s macro-level adherence to the Mean Reversion theory were two noteworthy patterns Tardigrade pointed out in his analysis. Following a protracted downward trend, both signs point to a potential upward advance for DOGE.

Dragonfly Doji Signals Potential Trend Reversal

Dogecoin’s daily candle ended with a Dragonfly Doji, a candlestick pattern frequently linked to trend reversals, as noted by trader Tardigrade. This pattern, characterized by a large lower shadow and little to no upper shadow, occurs when the opening, high, and closing prices are nearly identical.

When the Dragonfly Doji appears after a downtrend, technical analysts typically view it as a bullish reversal signal. It indicates that buyers may be stepping in to drive prices higher as selling pressure diminishes.

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Dogecoin Dragonfly Doji candlestick pattern observed by Trader Tardigrade

Mean Reversion Theory Suggests Dogecoin Could Climb Higher

Furthermore, Trader Tardigrade also pointed out that Dogecoin’s price movement is consistent with the Mean Reversion hypothesis. This financial concept suggests that asset prices tend to return to their long-term historical average. In addition to the candlestick pattern, the theory indicates a potential upward trend.

Despite recent price fluctuations, DOGE’s macro trend suggests a return to higher price levels, according to his analysis, which shows that the asset is tracking a yellow-dotted mean reversion line.

For traders seeking potential buy zones, the mean reversion theory can be a valuable tool.

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Cardano Founder Reignites Dogecoin-X Integration Talks

Even while technical signs point to a possible Dogecoin rebound, outside events could still have an impact on the asset’s future course.

Charles Hoskinson, the founder of Cardano, has once again extended an invitation to the Dogecoin community to “fix up” the network and establish DOGE as “the standard currency of X.”

Hoskinson’s latest proposal highlights the possibility of using Dogecoin for payments on the X social media platform, including tipping features and low-cost transactions.

At press time, Dogecoin (DOGE) is currently trading at $0.1998, with a 24-hour trading volume of $1.9 billion. This marks a 4.39% increase in price, raising hopes for a potential recovery.