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US DOGE Launches with Meme Coin Dogecoin as Mascot…?

Okoya David
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US DOGE Launches with Meme Coin Dogecoin as Mascot…?

Dogecoin makes an appearance on the U.S. Department of Government Efficiency (DOGE) website only a day after its launch.

When President Donald Trump unveiled the Department of Government Efficiency, nicknamed DOGE, as part of his “Save America” initiative to reduce government bloat and named Tesla CEO Elon Musk one of its leaders, many in the Dogecoin community were excited. Why? They expected the move to bring significant attention to the doggy-themed meme coin with the ticker DOGE.

One day into the Trump administration, these Dogecoin proponents have not been disappointed.

DOGE Puts Dogecoin in the Limelight 

Dogecoin has made an appearance on the U.S. DOGE website only a day after its launch.

As of Tuesday, January 21, a day after Trump signed an executive order officially establishing DOGE as a non-governmental agency, visitors to its website are greeted by the Dogecoin logo with a caption that reads, “The people voted for major reform.”

Screengrab of US DOGE Official Website
Screenshot of US DOGE Official Website. Source: doge.gov

Savvy crypto community members have also pointed out that the Dogecoin logo is embedded in the website’s source code.

The move comes as Tesla CEO Elon Musk is now set to be the sole leader of the advisory agency as Roivant Sciences founder and former Republican presidential candidate Vivek Ramaswamy has stepped down to pursue the Ohio governorship. Both men were initially slated to head the body in November 2024.

From several mentions on X to accepting the meme coin as payment for merchandise across his companies, Musk has long been a Dogecoin champion. As such, the recent stunt may come as no surprise to crypto community members.

However, that did not stop the asset from staging a 17% rally from $0.34 to $0.40 as the news spread, though the meme coin has now given away most of these gains to trade at $0.37 at the time of writing.

What You Need to Know About DOGE

DOGE was unveiled in November 2024 by President Donald Trump, who promised to cut excessive spending, reduce regulations, and reform federal agencies.

At the time, Musk asserted that the agency would help cut a whopping $2 trillion in government spending, a target he has since reduced to about $1 trillion, dubbing the former an unlikely best-case scenario.

While DOGE’s promise has some excited, others, like outgoing Treasury Secretary Janet Yellen, have expressed doubt that it will be able to fulfill its mandate.

Meanwhile, DOGE is also facing a lawsuit over transparency concerns from the National Security Counselors, a legal advocacy group.

With Elon Musk increasingly tying DOGE’s fortunes to Dogecoin, investors in the meme coin will hope that the agency enjoys significant success.

Here is How High Shiba Inu Price May Go If Ethereum Market Cap Soars by 200%

Lele Jima
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Here is How High Shiba Inu Price May Go If Ethereum Market Cap Soars by 200%

Shiba Inu could witness a substantial price increase if it continues to mirror Ethereum’s performance, particularly in the event that ETH’s market cap soars by 200%. 

It is common knowledge that the price actions of major cryptocurrencies such as Ethereum often influence the trajectory of smaller tokens, like Shiba Inu (SHIB). 

Shiba Inu Correlation with Ethereum 

Data from IntoTheBlock shows that Shiba Inu has a close correlation with Ethereum, standing at 93% over the past 30 days. This suggests that Ethereum is more likely to influence Shiba Inu’s performance in the short term. 

This could be seen as an advantage or disadvantage for Shiba Inu, depending on Ethereum’s performance. An upsurge in Ethereum’s price could translate to a gain for SHIB. However, the price of the doggy-themed token could plunge during an Ethereum dip.  

Impact of 200% Increment on Ethereum  

We considered how Ethereum could impact Shiba Inu’s price if its market cap soars by 200%. The ripple effect of this increment is expected to be significant for Shiba Inu. 

For context, Ethereum is currently trading at $3,298 per token. Ethereum remains the second-biggest cryptocurrency, with its market cap standing at $389.77 billion at press time. A 200% increase in Ethereum’s market cap will take it to $1.16 trillion, cementing ETH’s position as the second-biggest cryptocurrency globally. 

The impact of this increment will also be observed in Ethereum’s price, which will rise to $9,702 per token. This surge could start a bull run in the broader crypto market, elevating the prices of various assets like Shiba Inu. 

Shiba Inu’s Price If Ethereum Market Cap Soars 200% 

According to IntoTheBlock’s correlation data, Shiba Inu’s performance mirrors Ethereum’s to a large extent, so its market cap could grow proportionally by up to 200%. 

At press time, Shiba Inu has a market cap of $12.75 billion, making it the 15th-biggest token on CoinMarketCap’s global crypto ranking. It is currently trading at $0.0000207 per token. If Shiba Inu’s market cap grows 200% proportionally to Ethereum’s, its valuation could increase to $38.25 billion. This could push SHIB’s price to $0.00006492, close to its previous ATH of $0.0008845. 

SHIB Potential Surge to $0.00006 

Several crypto stakeholders, including the team behind the Shiba Inu ecosystem, have been forecasting SHIB’s potential surge to the $0.00006 territory. 

In November, Lucie, the marketing lead of the Shiba Inu ecosystem, emphasized that SHIB ‘is doing fine,’ projecting that the asset could rally to $0.00006861. 

Additionally, pseudonymous market observer TSLA Tracker expressed admiration for SHIB’s price setup in December, noting that the token is gearing up for a surge to $0.00006937.  

Earlier this month, a popular analyst who uses the pseudonym ‘Strong’ on X set a target of $0.000066651 for Shiba Inu, referencing the formation of a cup-and-handle pattern on the asset’s weekly chart. 

While Ethereum’s price actions could significantly impact Shiba Inu’s performance, certain factors like market sentiment, burns, and utility will determine the extent of SHIB’s price increase. 

XRP Path to Double Digits Has Little Resistance Beyond This Level: Analyst

Okoya David
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XRP Path to Double Digits Has Little Resistance Beyond This Level: Analyst

Highly followed crypto analyst “CasiTrades” suggests that XRP is unlikely to face much resistance on its potential path to double-digit price levels.

Over the past three months, XRP has undoubtedly been the breakout star of the crypto market as anticipated regulatory tailwinds from the President Donald Trump administration sent interest in the asset flying.

Amid the bullish sentiments, many now expect that the asset is set to enter unchartered price territory. One such analyst has suggested that double-digit prices are within reach, identifying a key level to watch.

Clear Skies Ahead for XRP?

Highly followed crypto analyst “CasiTrades” believes XRP is unlikely to face much resistance on its potential path to double-digit price levels, identifying the key level for investors to watch.

In an X post on Monday, January 20, CasiTrades asserted that XRP looked set to surge to a new all-time high of $3.80 following a strong bounce around the $2.8 price point, aligning with the 0.382 Fibonacci level on the one-hour candlestick chart.

Beyond this level, the analyst argued that there was unlikely to be much resistance, which could help propel the asset to double-digit price targets.

Chart showing Elliot Wave analysis of XRPUSD 1 hour candle chart
Chart showing Elliot Wave analysis of XRPUSD 1 hour candle chart. Source: CasiTrades

While CasiTrades has not specified what this double-digit target could be, analysts like Ali Martinez, Davinci Jeremie, and “EGRAG CRYPTO” have predicted the asset could hit $15, $24, and $27, respectively, this cycle.

Still, some have questioned the likelihood of XRP hitting such price levels amid the significant capital influx required. For context, XRP would likely need an over fourfold market cap increase from about $177.78 billion to about $864 billion to hit the $15 price point.

Meanwhile, XRP continues to trade around the $3 price point at the time of writing, down 5.36% over the past 24 hours.

Crypto Sell-Off Hits PEPE Hard: Will $0.00001 Support Hold?

Albert Brown
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Crypto Sell-Off Hits PEPE Hard: Will $0.00001 Support Hold?

Meme coins like PEPE face significant challenges amid declining crypto prices, breaking multiple support levels. Could this downtrend test the $0.000010 psychological mark?

Over the past 24 hours, the meme coin segment has dropped by 13% in valuation and stands at $102.28 billion. The newly launched official TRUMP token has flipped PEPE into the third-biggest meme coin.

This shift triggered a massive sell-off in PEPE, causing its price to drop nearly 13% within a day. With PEPE falling below the $0.000015 psychological threshold, selling pressure continues to mount.

Will this downfall result in a nosedive to the $0.000010 mark? Let’s find out.

PEPE Price Analysis

PEPE showcases a bullish failure to surpass the local resistance trendline in the daily chart. This results in four consecutive bearish candles, accounting for a price drop of 26.63%.

The ongoing correction has breached the 38.20% Fibonacci retracement level at $0.00001670, confirming a bearish head-and-shoulders pattern breakdown.

Pepe Price Chart
Pepe Price Chart

Now, PEPE is approaching a critical support zone comprising the 50% Fibonacci retracement level at $0.0000144 and the 200-day EMA line.

The breakdown rally has dropped the RSI line close to the oversold zone. Furthermore, it has influenced a bearish crossover between the 50 and 20 EMA lines.

Hence, technical indicators continue to give a sell signal for PEPE. Using the Fibonacci level, the ongoing rally will likely test the 78.60% Fibonacci level at $0.00001024 if the sellers break the 200-day EMA line.

On the positive side, if the broader market stabilizes, a turnaround from the 200-day EMA line will retest the broken neckline at $0.00001670.

On-chain Data Reveals Key Support for PEPE

Despite the ongoing selling spree, more than 64.38% of addresses holding PEPE are in the money. This accounts for 255.04k addresses.

PEPE on-chain levels
PEPE on-chain levels

However, weak support exists between $0.000013 and $0.000015, involving 7.28 trillion PEPE tokens held by 10,380 addresses. The next significant supply zone lies between $0.000011 and $0.000013, with 25.53 trillion PEPE tokens.

This suggests the ongoing correction could extend to the $0.000010 psychological level. However, this critical zone may be a strong support, possibly leading to a bullish reversal.

Overall, PEPE shows a high chance of nearing the $0.000010 psychological zone. However, the strong support at the psychological mark is likely to provide a bullish reversal.

Top Crypto Pundit Says XRP Below $5 is Cheap

Lele Jima
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Top Crypto Pundit Says XRP Below $5 is Cheap

Despite XRP’s remarkable rally over the past week, prominent crypto YouTuber DustyBC still believes the coin’s price below $5 is cheap.  

XRP has performed incredibly well over the past three months, ranking as the biggest gainer among the top 10 cryptos by market cap. 

An Outstanding Performance 

Recall that XRP began its price surge in mid-November following President Donald Trump’s reelection. The altcoin, which was trading at around $0.5 before the election, breached the $1 psychological target in mid-November. 

Even though XRP faced significant pullbacks, it successfully climbed to $2 in early December and subsequently clinched the $3 target last week. On January 16, 2025, XRP soared to a seven-year high of $3.39. 

XRP Below $5 Is Cheap 

Despite this remarkable rally, several crypto enthusiasts considered XRP below $5 to be cheap. Renowned crypto YouTuber DustBC is among the experts who share this sentiment, suggesting that the third-biggest cryptocurrency is undervalued at a price below $5. 

The crypto YouTuber made this suggestion recently while quoting his March 2021 tweet, in which he made a similar comment. At the time, he considered XRP’s price below $0.5 too cheap. 

Since DustyBC made the assertion in March 2021, the price of XRP has soared over 500% to above $3. Currently, the prominent crypto expert still thinks XRP is undervalued below $5. This suggests that DustyBC sees XRP below $5 as an opportunity for investors to acquire the altcoin at a discounted price compared to its real value. 

Potential Reasons Why DustyBC Thinks XRP Below $5 Is Cheap 

Meanwhile, the expert did not provide insights into why he believes XRP below $5 is cheap. It is noteworthy that XRP is designed to facilitate low-cost and fast cross-border payments. 

Specifically, leading crypto payments company Ripple Labs is fostering XRP’s payments utility by integrating the coin into ODL (now Ripple Payments), allowing users, particularly traditional financial institutions, to leverage it for cross-border settlements. 

It is expected that more financial institutions, especially those in the U.S., may adopt XRP, utilizing it for cross-border settlements in the future. This adoption will soar once the lawsuit between the SEC and Ripple is finally resolved. 

Several crypto stakeholders, including Ripple execs, are confident that the incoming administration will drop the multi-year lawsuit.  

Also, there are speculations that Donald Trump is receptive to the idea of creating a reserve that will allow the U.S. to buy and hold cryptos developed in the country, including XRP and Solana. If this happens, it could prompt other countries to adopt XRP as a reserve asset, potentially driving its price to unprecedented levels.

‘Sit Back, Relax’, Analyst Says XRP is Exceptionally Bullish

Sam Wisdom Raphael
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‘Sit Back, Relax’, Analyst Says XRP is Exceptionally Bullish

Market analyst Dark Defender suggests XRP is “exceptionally bullish,” urging market participants to sit back and relax. 

According to Dark Defender, it is imperative that XRP holders ignore the ongoing FUD. For context, this FUD campaign comes on the back of broader market uncertainty that has capped XRP’s market uptrend at the $3 price region.

XRP Claims $3 But Faces Resistance

Upon starting the year 2025 at the $2.07 price, XRP kicked off with a boom, surging 11.87% to $2.3. However, this momentum cooled as the year progressed, leading to consolidation. Nonetheless, a breakout last week led to a push beyond the $3 mark for the first time since January 2018.

After hitting a peak of $3.4 on Bitstamp last Thursday, Jan. 16, 2025, XRP has since witnessed a mild pullback. This persistent market uncertainty has triggered FUD among investors. Amid the bearish sentiment, Dark Defender remains positive, citing XRP’s price movements on the weekly chart.

XRP 1W Chart Dark Defender
XRP 1W Chart Dark Defender

Notably, data from the chart confirms that XRP slipped into a brief descending channel after it hit $2.9 on Dec. 3, 2024. The resistance at this level sparked a massive correction, leading to three weeks of persistent declines, with XRP dropping 21.16% during this period.

“Sit Back, Relax”

Dark Defender’s chart shows that XRP eventually broke above this descending channel in the second week of the new year. This breakout paved the way for a more substantial uptrend, which resulted in the rally to $3.4 last week. Now, despite the mild pullback, Dark Defender believes the uptrend is still intact.

“Sit back, relax, and ignore the FUD,” he charged XRP investors, suggesting that the close of the current weekly candle would make XRP “exceptionally bullish.” When the uptrend resumes, the analyst sets a target around the $6 price mark, particularly at $5.8.

Dark Defender on X
Dark Defender on X

Interestingly, Dark Defender has persistently championed the XRP to $5.8 narrative over the past few months. Last September, he called attention to XRP’s symmetrical triangle on the 3-month timeframe, predicting that the altcoin could break out to a price target of $5.8.

At the time, XRP traded for $0.53, requiring a 994% increase to claim the $5.8 mark. However, with XRP currently changing hands at $3.07, it now needs to rally by a mere 89% to reach $5.8. Market analyst EGRAG also asserted that XRP’s worst-case scenario could see it claim $6 this bull run. 

Circle CEO Predicts Trump Orders Could Ease Bank Crypto Ownership

Albert Brown
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Circle CEO Predicts Trump Orders Could Ease Bank Crypto Ownership

Circle CEO Jeremy Allaire has revived expectations for imminent executive orders from President Donald Trump to transform the crypto landscape. 

These orders could enable banks to trade, invest, and hold cryptocurrencies in their portfolios. The expectations align with Trump’s promise to champion cryptocurrency adoption during his presidency.

Desire for Regulatory Changes

According to a report from Reuters, Allaire has expressed a strong desire for regulatory changes, particularly the repeal of the SEC’s Staff Accounting Bulletin 121. He stated that the rule imposes punitive measures on banks and corporations holding crypto assets.

Allaire highlighted the potential impact of these executive orders during the Reuters Global Markets Forum. He underscored the importance of regulatory adjustments in encouraging broader financial institution participation.

Notably, Circle already collaborates with commercial banks, highlighting the company’s commitment to integrating crypto within the traditional financial ecosystem.

Circle, the issuer of the USDC stablecoin, has become a pivotal player in the digital asset sector. Its USDC pegged to the U.S. dollar is the second-largest stablecoin by market value and ranks as the eighth-largest crypto overall.

Anticipated Crypto Regulatory Shifts

The crypto industry anticipates significant regulatory activity under the new Trump-led administration. Allaire expects Congress to address digital asset regulations in the coming weeks. 

Meanwhile, Coinbase’s Chief Policy Officer, Faryar Shirzad, foresees swift action from the SEC to facilitate broader crypto adoption. Shirzad emphasized the potential benefits of bringing more financial institutions into the custodial space, fostering growth in the ecosystem.

Crypto Purchases Mark Trump’s Inauguration

Meanwhile, World Liberty Financial (WLFI), a DeFi platform linked to President Trump, made high-profile crypto purchases during his inauguration. The platform acquired over $100 million in digital assets, excluding Bitcoin. 

Donald Trump Jr. announced the acquisitions, which included $47 million each in Ethereum (ETH) and Wrapped Bitcoin (WBTC), alongside $4.7 million allocations to Aave (AAVE), Chainlink (LINK), TRON (TRX), and Ethena (ENA).

It is also important to note that President Donald Trump issued a wave of executive orders addressing areas such as immigration, energy policy, and federal administration. Contrary to widespread expectations, the cryptocurrency sector was left untouched in this initial flurry of actions.

Dogecoin Price Drops Below $0.35: Is $0.30 Inevitable?

Albert Brown
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Dogecoin Price Drops Below $0.35: Is $0.30 Inevitable?

As the crypto market declines rapidly, Dogecoin is warning of a potential fall to $0.30. Will the $0.33 level provide a bounce-back opportunity?

Following a dip in the crypto market just hours after President Trump’s inauguration, meme coins are experiencing a sharp decline. Dogecoin has dropped 6.47% in the past 24 hours, with its market cap now at $50.39 billion.

As broader market liquidations surge to nearly $750 million, selling pressure has resulted in $500 million worth of liquidations from long positions. Amid this intense bearish phase, the key question remains: will Dogecoin hold above critical support levels?

Dogecoin Price Analysis

On the 4-hour chart, Dogecoin’s price action reveals an intense correction phase. After hitting a 7-day high of $0.43434, the meme coin has dropped by 21.57%. Currently, Dogecoin is trading at a market price of $0.34066.

Dogecoin price chart
Dogecoin price chart

A streak of five consecutive bearish candles has pushed Dogecoin below the 200 EMA line. Additionally, it has breached the 50% Fibonacci level at $0.35321. Due to heightened selling pressure, the 20 and 50 EMA lines are on the verge of a bearish crossover.

The 4-hour RSI line is nearing the oversold zone but reveals a minor bullish divergence, hinting at a potential reversal. Furthermore, lower price rejections in the consecutive bearish candles indicate a bullish struggle to absorb the supply pressure.

The upcoming support zone at the 38.20% Fibonacci level ($0.3303) will serve as a crucial crossroad for Dogecoin’s price trajectory.

Whale Transactions Surge

As Dogecoin’s price witnesses a massive drop, crypto analyst Ali Martinez highlights growth in the Dogecoin network. In a recent X post (formerly Twitter), the analyst pointed out a surge in whale transactions.

Dogecoin Whale Transactions
Dogecoin Whale Transactions

Based on data from Santiment, the number of transactions exceeding $1 million on the Dogecoin network has increased significantly. Over the past 24 hours, these transactions have peaked at 588, signaling network growth.

DOGE Price Targets

If the broader market stabilizes, the reduction in selling pressure and increased whale activity could fuel the Dogecoin reversal. Hence, if buyers regain momentum at the 38.20% Fibonacci level, the price may climb back to the 61.80% Fibonacci level near $0.37772.

Conversely, if the bearish trend continues, the next key level to test will be the $0.30 psychological support, close to the 23.60% Fibonacci level.

Trump Bullish on Ethereum? WLFI Move Sparks Excitement

Okoya David
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Ethereum (ETH) appears to have gained a new powerful supporter, as the Donald Trump-inspired World Liberty Financial project embarks on an accumulation spree.

Over the past year, Ethereum’s (ETH) potential has come under question as it has continued to underperform other leading crypto assets by market cap. Amid the doldrums, a recent move by World Liberty Financial (WLFI), a decentralized finance platform inspired by U.S. President Donald Trump, now appears to be sparking new hope among investors.

A Powerful Supporter?

Many Ethereum proponents now believe that the asset has gained a powerful new supporter in none other than President Donald Trump.

The sentiments come as World Liberty Financial (WLFI), the DeFi project inspired by Trump, not only purchased $47 million worth of ETH to celebrate his inauguration as the 47th president of the U.S. but has now gone ahead to stake some of these holdings.

Specifically, per Etherscan data, WLFI has staked nearly 5,000 ETH worth over $15 million on Ethereum liquid staking provider Lido. The move is significant as it makes the project a more involved contributor to the Ethereum network and suggests its willingness to tie its fortunes with the network long term.

For context, staking involves locking up one’s assets to participate in securing a network. This process typically involves verifying transactions for a reward with locked assets held to keep the network participants honest.

Meanwhile, Ethereum is not the only asset WLFI accumulated on inauguration day. The project also purchased copious amounts of Bitcoin, LINK, TRON, AAVE, and Ethena.

However, this WLFI interest has not been able to save these assets, including Ethereum, from the crypto market’s post-inauguration correction. Per CoinMarketCap data, ETH, for one, is trading just above the $3,250 price point at the time of writing, representing an over 4% decline over the past 24 hours.

As Gensler Officially Resigns, SEC and CFTC Welcome New Chairs: Here are Their Views on Crypto

Abdulkarim Abdulwahab
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As Gensler Officially Resigns, SEC and CFTC Welcome New Chairs: Here are Their Views on Crypto

Renowned pro-crypto commissioners at the SEC and CFTC have taken on acting roles amid the ongoing leadership restructuring under the new Trump administration.

Gary Gensler officially left his position as chairman of the U.S. SEC on Monday, January 20, following the inauguration of President Donald Trump. Similarly, Rostin Behnam, the chairman of the U.S. CFTC, vacated his office on the same day as Trump assumed the presidency.

With Trump now in office, he has appointed pro-crypto commissioners to serve in acting roles at the SEC and CFTC, pending full confirmation of permanent chairpersons.

According to a press release from the White House on Monday, Trump chose Mark Uyeda as the acting chairman of the SEC. Meanwhile, CFTC Commissioner Caroline Pham has stepped into an acting role at the CFTC following a vote and confirmation by President Trump.

With these significant leadership changes at the agencies overseeing the crypto industry, market participants are closely watching for pro-crypto initiatives from the new leadership.

Here Are Their Views on Crypto

The crypto community has resurfaced a pro-crypto statement from Mark Uyeda prior to his appointment as acting chairman of the SEC.

Acting SEC Chair Mark Uyeda’s Crypto View

In a Fox Business interview two months ago, Uyeda criticized the SEC’s policies in recent years, calling them detrimental to the crypto industry. He stated:

“Our policies and approach over the last several years have been a disaster for the whole industry. We’ve been sending this policy through enforcement, but we’ve done nothing to provide guidance on it.”

He further acknowledged that the lack of clear guidance had led to confusion and inconsistent court rulings.

Uyeda also pointed out that the SEC had provided no clear guidance on crucial issues, such as registration processes for securities offerings, broker-dealer regulations, and exchange registrations. He asserted that this absence of clarity had contributed to broader frustration within the industry.

In addition to his criticisms, Uyeda has contributed more to the crypto industry. During the lengthy approval process for the first Bitcoin spot ETFs, Uyeda was one of three commissioners who voted in favor of approval. Along with Commissioner Hester Peirce, his vote helped secure the ETF’s approval.

Acting CFTC Chair Caroline Pham’s Crypto View

Similarly, Acting CFTC Chair Caroline Pham is also a well-known advocate for crypto. In an interview following the collapse of Terra, she emphasized the urgent need for regulators to protect retail investors.

Pham advocated for public roundtables and the creation of a clear, comprehensive regulatory framework to prevent future issues. She has supported congressional efforts to expand the CFTC’s authority over crypto regulation.

Additionally, Pham discussed the challenges posed by crypto exchanges and stressed the importance of carefully considering how innovation in market structures should be approached.

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