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Dogecoin Price Slips But Dogeverse ICO Has Raised $800k in Two Days

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Dogecoin’s (DOGE) price has fallen 9% over the past two days, slipping back to $0.19 after briefly spiking above $0.20.

Despite DOGE’s cooldown, investor interest in newly-launched projects remains red-hot – with Dogeverse (DOGEVERSE) raising over $800,000 in the first 48 hours of its ICO.

Dogecoin Pulls Back as Buying Frenzy Fizzles Out

Over the past few days, DOGE has experienced a sharp sell-off as bullish momentum faded.

The selloff appears to be primarily technical in nature – DOGE spiked through $0.20 resistance on the 4-hour chart only to be immediately rejected.

It seems that retail investors were hunting for gains and likely got stopped out en masse.

However, over $2 billion worth of spot volume was traded on major exchanges yesterday, showing the intense two-way flows as the bulls and bears battled it out.

Now, Dogecoin is testing critical technical support in the form of its 20-day exponential moving average (EMA) on the daily chart.

A decisive break below that level could trigger a much deeper pullback in the latter half of the week.

On the other hand, if DOGE bounces from this EMA, it could fuel another attempt by buyers to challenge the $0.20 resistance.

Meme Coin Mania Cools as Investors Take Profits

While Dogecoin’s pullback has captured headlines, the selloff has been far broader across the entire meme coin universe.

After a rally to kick off the week, the retail crowd has taken profits and headed for the exits.

From Shiba Inu to dogwifhat to Pepe, almost every joke crypto has taken a hit in the past 48 hours.

SHIB and PEPE are both down 6%, while WIF has plunged almost 12%.

Even MEW, which had been performing exceptionally well last week, has experienced a 10% decline.

The only major meme coin that’s managed to stay in the green is BRETT on the Base blockchain.

While its 1% gain is relatively tame compared to the explosive pumps seen previously, any positive price action is noteworthy, given the dismal performance elsewhere.

However, the profit-taking hasn’t been contained in the meme coin space.

Even Bitcoin has slipped 6% since Monday as some of the bullish sentiment appears to be wearing off.

Whether this meme coin downturn proves to be a bout of profit-taking, or the start of a deeper pullback, remains to be seen.

Dogeverse ICO Defies Meme Coin Downturn & Raises $880k

While the meme coin market takes a breather, one project defying the negativity is Dogeverse and its wildly successful ICO.

Despite the bearish price action, investors have been snagging DOGEVERSE tokens at an impressive rate.

In just 48 hours since launching its token presale this week, Dogeverse has already raised a whopping $880,000 from buyers looking to get in on the ground floor.

And demand shows no signs of slowing, with DOGEVERSE tokens still being offered for the rate of just $0.000291 each.

But what’s fueling this enthusiasm even as the rest of the meme coin space cools off?

It likely comes down to Dogeverse’s multi-chain approach and stellar tokenomics, which have resonated with the retail crowd.

By using bridging tech to enable DOGEVERSE to exist on Ethereum, BNB, Solana, Polygon, Avalanche, and Base, this project has tapped into the “chain-agnostic” interoperability that gets crypto traders buzzing.

Combine that with its estimated staking rewards of 1,463% per year, and it’s easy to see why Dogeverse’s ICO has attracted so much attention.

The growth of Dogeverse’s social media channels also showcases the project’s traction.

In under three days, the project’s Twitter has received hundreds of new followers, while its Telegram group continues onboarding new members seeking more info on the development team’s ambitions.

With hype growing by the day, Dogeverse looks set to defy the bearishness and continue its ICO run.

Visit Dogeverse ICO

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Cryptocurrency

Ethereum Foundation, Whales, and Hackers: What’s Driving the ETH Sell-Off?

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TL;DR

  • Whales, hackers, and the Ethereum Foundation wallets moved over $500M in ETH through large sales and withdrawals.
  • Ethereum transfers rose to 4.6M ETH, nearing the monthly high of 5.2M recorded in July.
  • Staking inflows hit 247,900 ETH, the highest in a month, locking more supply from trading.

Large Withdrawals and Whale Activity

Ethereum (ETH) has seen heavy movement from major wallets over the past few days. On-chain data from Lookonchain shows a newly created wallet pulled 17,591 ETH, worth $81.62 million, from Kraken in just two hours. 

Over three days, two new wallets withdrew a combined 71,025 ETH, valued at $330 million, from the exchange.

One of these wallets, address 0x2A92, has withdrawn 53,434 ETH, worth $242.34 million, in two days. This includes a recent purchase of 30,069 ETH, valued at $138.46 million, during a market drop.

Major ETH Holders Offload Millions Amid Price Rally

In contrast, several separate entities have been disposing of some ETH holdings. A wallet tied to a hacker address 0x17E0 sold 4,958 ETH for $22.13 million at $4,463, securing a profit of $9.75 million. Earlier this year, the same address sold 12,282 ETH at $1,932 and later bought back part of the amount at higher prices.

A different whale sold 20,600 ETH for $96.55 million over the past two days, generating a profit of more than $26 million after holding the position for nine months. 

Meanwhile, an Ethereum Foundation-linked wallet, 0xF39d, sold 6,194 ETH worth $28.36 million in the last three days at an average price of $4,578. 

Recent sales from the same wallet included an additional 1,100 ETH and 1,695 ETH for over $12.7 million combined.

Network Activity on the Rise

CryptoQuant data shows Ethereum’s total tokens transferred have been climbing since August 9. After ranging between 1 million and 3 million ETH through late July and early August, transfers have risen to 4.6 million ETH, approaching the monthly high of 5.2 million recorded in mid-July. This increase has occurred alongside a price rally from about $3,400 to $4,600.

Ethereum (ETH) Tokens Transferred (Total)
Source: CryptoQuant

Interestingly, staking inflows generally stayed between 20,000 and 80,000 ETH per day over the past month. On August 14, inflows jumped to 247,900 ETH, the highest in the period. 

At the time, ETH was trading near $4,600. Large staking deposits reduce the amount of ETH available for immediate trading, as staked coins are locked for a set period.

Ethereum (ETH) Staking Inflow Total
Source: CryptoQuant

In the meantime, ETH trades at $4,647 with a 24-hour volume of $68.25 billion, down 2% on the day but up 19% over the week.

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Massive DOGE Whale Activity Hints at $1 Breakout

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TL;DR

  • Whales bought two billion DOGE this week, lifting their combined holdings to 27.6 billion coins.
  • A single 900M DOGE transfer worth $208M to Binance drew attention to large exchange movements.
  • DOGE broke key resistance, with momentum building for a possible push toward the $1 price mark.

Price and Market Moves

Dogecoin (DOGE) traded at $0.23 at press time, slipping 4% over the past day but still showing a 2% gain for the week. Daily turnover came in at about $6.18 billion. 

Meanwhile, the broader crypto market saw over $1 billion in liquidations. Hotter-than-expected US Producer Price Index data pushed traders to scale back expectations of a near-term Federal Reserve rate cut. DOGE had roughly 290,500 coins liquidated during the sell-off.

On the two-week chart, analyst Trader Tardigrade notes that DOGE has cleared a downward-sloping resistance line after completing what appears to be a “wave V” in an Elliott Wave sequence. Similar setups in the past, where prolonged declines stayed within falling channels before breaking higher, have been followed by sharp rallies.

Momentum gauges are also turning up. The Stochastic RSI, which had dropped into oversold territory, is now heading higher. Previous reversals from this zone have coincided with sustained upward moves. The current formation points to a possible run that could carry DOGE past the $1 mark.

Heavy Whale Buying and Large Transfers

As reported by CryptoPotato, blockchain data shows large investors have added two billion DOGE in the past week, spending just under $500 million. That brings their holdings to about 27.6 billion coins, or 18% of the supply. The buying streak has prompted speculation within the community. 

Recently, Whale Alert flagged a 900 million DOGE transfer worth about $208 million into Binance. The tracking indicates that it originated from a wallet connected to the exchange, likely as an internal activity. The address involved holds 2.88 billion DOGE, one of the largest balances on the network.

Ali Martinez also reports that transactions above $1 million reached a one-month high, with activity building since early August and peaking as DOGE traded at $0.25.

Sentiment Building

Analyst Gordon described the current setup as “a nice bit of consolidation” before a potential breakout, adding, 

“This will be one of the first coins normies FLOCK to & the pump will be MASSIVE.”

With whale accumulation rising, high-value transfers increasing, and a bullish technical pattern in play, DOGE is positioned for a potential push toward $1 if momentum holds.

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Ripple Price Analysis: XRP at Risk as Key Support Levels Could Trigger Sharp Drop

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XRP has recently entered a consolidation phase after a strong rally earlier this summer, with the price action now hovering around key resistance levels on both its USDT and BTC pairs. Yet, while momentum has slowed, the charts still indicate a generally bullish structure, with multiple key support levels remaining firmly in place.

Technical Analysis

By ShayanMarkets

The USDT Pair

On the XRP/USDT daily chart, the price is currently trading near the $3.10 mark, facing a strong resistance zone around $3.40. This follows a breakout above the $2.70 range in July, which has now flipped into a support area.

Both the 100-day and 200-day moving averages are also trending upward and recently formed a bullish crossover around $2.45, reinforcing the medium-term bullish sentiment. If the $3.40 resistance breaks, a push toward the critical $4.00 range becomes likely.

However, the RSI hovering near the neutral 50 level suggests a lack of strong momentum for now, meaning a short-term pullback into the $2.80 support zone is still possible.

This zone will be key for maintaining the bullish structure. Losing it could open the door for a deeper correction toward the 200-day moving average located around the $2.40 mark. Yet, as long as the price stays above the moving averages, the broader trend remains bullish.

The BTC Pair

Looking at the XRP/BTC chart, the pair has recently pulled back after hitting the 3,000 SAT resistance, with the price currently around 2,600 SAT.

This follows a clean breakout above the long-term descending channel and a successful retest of its upper boundary, which coincided with the 200-day moving average and the 2,400 SAT support zone. This confluence remains a key bullish technical factor, as holding above it could attract renewed buying pressure.

That said, RSI levels around 48 show that momentum has cooled after the sharp July rally, meaning XRP may continue ranging between 2,400 SAT and 3,000 SAT in the near term. A decisive close above 3,000 SAT would likely open the path to the 3,400 SAT zone, while losing 2,400 SAT could shift the bias back toward 2,000 SAT support. For now, the structure still favors the bulls as long as higher lows remain intact.

 

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

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