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Dogecoin Pumps 10% as Dogecoin20 Surges – Just 22 Days Until Doge Day IEO

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Dogecoin has outpaced the market today as its price pumps 10% and crosses the $0.21 mark.

Meanwhile, the next-generation meme coin Dogecoin20 surged past $10 million in the first week of presale and now looks ahead to its 4/20 Doge Day IEO.

Leading Analysts Back Dogecoin to Outperform Market With Massive Gains

A slew of renowned market analysts have provided bullish price forecasts for Dogecoin, suggesting the leading meme coin faces a bullish upcoming trajectory.

Currently, DOGE is trading at $0.21, up 10% today, 38% this week, 69% this month, and 187% this year.

Nevertheless, analysts anticipate much more upside to come.

“DOGE easily has another leg up left in it here. Send it higher,” said Kaelo in a recent tweet.

The analyst highlighted that Dogecoin recently broke and retested its November 2022 resistance, speculating the next “leg up” will catapult it toward $0.3.

Similarly, Rekt Capital anticipates a move toward $0.3, noting that Dogecoin has broken a long-term trendline resistance.

“Dogecoin has ended its macro downtrend and begun a new macro uptrend,” the analyst explained.

He continued, “If DOGE monthly closes above the red $0.20 level, it will reclaim historical support that could offer further fuel for a move towards the $0.30+ area.”

Last week, CryptoWizzardd, who goes by Wizz, said that Dogecoin could “pull numbers over the next 3-4 weeks.”

While the Wizz did not explicitly provide a price target, the analyst did depict a price chart with a marked level of $0.44. This represents a whopping 109% increase from its current price.

Indeed, these predictions illustrate a notably bullish outlook for Dogecoin in the coming weeks. However, prominent trader Jelle says that Dogecoin’s outlook also sets a bullish precedent for other dog-themed meme coins.

“DOGE is starting to move again, paving the way for another dog-themed rally. FLOKI & SHIB took most of the shine in the previous rally, and it looks like the Vikings are trying to claim that throne once more. Looks ripe for a breakout.”

Although Jelle is bullish on Floki and Shiba Inu, other analysts are venturing deeper into the realms of meme coin degeneracy, seeking new projects that present more room for growth.

One is Dogecoin20, a new ICO that has raised over $10 million in one week.

New Meme Coin Dogecoin20 Backed to Explode

Enter an enthralling paradigm of memetic excitement with Dogecoin20, a next-generation Dogecoin derivative with tangible benefits and unwavering community support.

While retaining the vibrant essence that exploded Dogecoin’s popularity, Dogecoin20 ushers in compelling financial innovations, retrofitting the legacy meme coin with mechanisms suitable for current market dynamics.

The project launched on the Ethereum network, ensuring widespread accessibility and boundless functionality.

Its flagship product is a Stake-to-Earn mechanism, enabling $DOGE20 holders to generate passive rewards on their investment. Currently, they can garner an 84% APY, but this will decrease as the staking pool grows.

So far, 33,274,003,895 DOGE are staked, reflecting a deep market appetite to acquire more tokens.

Another advantage is Dogecoin20’s capped supply. Dogecoin holds an infinite supply, making it inflationary and susceptible to price dilution.

Meanwhile, Dogecoin20 embraces the “sound money” principle pioneered by Satoshi Nakamoto in the creation of Bitcoin, holding a capped supply of 140 billion tokens.

These factors have drawn immense excitement among investors and leading analysts alike.

“New 100x potential meme coin – Next Shiba Inu or Dogecoin?” Said Jacob Bury in a recent YouTube video.

But those looking to buy must act fast. The project will launch on exchanges on 20 April (Doge Day).

Visit Dogecoin20 Presale

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Over $500M Ethereum (ETH) Left CEXs as Market Prepares for Impulsive Move: Data

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Data from IntoTheBlock revealed that investors withdrew approximately half a billion ETH from centralized exchanges last week, the highest the asset has seen since February.

$500M ETH Leaves CEXs

The withdrawal of large amounts of ETH from centralized exchanges signals investor confidence in the long-term price trajectory of the asset. Market participants usually withdraw their cryptocurrencies from centralized trading platforms to hold the assets in their private wallets or cold storage in anticipation of higher prices.

Such large withdrawals have been considered an indicator of bullish sentiment and holding attitude among investors. Most of the time, ETH has recorded substantial gains in the weeks following large withdrawals from exchanges.

Anticipation for higher ETH prices could be attributed to the approval of spot Ethereum exchange-traded funds (ETFs) in Hong Kong and the just-completed Bitcoin halving event, which has historically triggered bull rallies across the market.

With huge amounts of ETH leaving exchanges, supply could decline on such trading platforms and high demand from large entities like the spot ETF issuers could propel the digital asset’s price upwards, per the laws of economics.

Futures Market Poised for Impulsive Move

While investors reduce their ETH holdings on centralized exchanges, the Ethereum Futures market shows that it is on the brink of a resurgence of long or short positions. A CryptoQuant Quicktake by pseudonymous analyst Shayan disclosed that the Ethereum market may be on the verge of a fresh and impulsive move either northwards or southwards.

Shayan explained that futures market sentiment significantly impacts price movements because the intensity of long and short positions, as well as the possibility of large liquidations, acts as a catalyst for volatility. This sentiment can be determined by the state of open interest, which indicates the number of open perpetual futures contracts across several cryptocurrency exchanges.

Notably, open interest in Ethereum declined during ether’s recent plunge to $2,900 amid escalated tensions in the Middle East. The fall suggested a pipedown of activities in the futures market.

“Consequently, the market appears poised for the resurgence of either long or short positions, potentially initiating a fresh and decisive market movement in either direction,” Shayan said.

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ChatGPT Gives Post-Halving Bitcoin Price Outlook, What About 99Bitcoins Token?

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The Bitcoin halving event has come and gone, leaving investors wondering what’s next for the world’s largest cryptocurrency.

However, in an exciting twist, the AI model ChatGPT has weighed in with its analysis – and provided a post-halving price prediction for BTC.

Bitcoin Shows Signs of Life After Halving Event

Bitcoin is showing signs of life after a bearish period last week.

The coin is now trading at $65,860, up over 4% since the halving and 10% from Friday’s lows.

This price point marks Bitcoin’s highest value in over a week as it tests dynamic resistance at the 20-day exponential moving average (EMA) on the daily chart.

Some technical analysts are also eyeing the potential formation of a huge bull flag pattern that could lead to further upside.

Bitcoin’s upswing has been accompanied by a surge in trading activity, with spot volumes up around 14% over the past 24 hours.

The increase in activity has also resulted in over $51 million worth of short positions being liquidated.

All in all, with Bitcoin’s price action heating up following the halving, traders and investors are watching to see if this could be the start of the next bull run.

ChatGPT Paints Bullish Picture on Bitcoin’s Future

According to ChatGPT’s analysis, Bitcoin’s post-halving price prospects look decidedly bullish.

ChatGPT believes several key factors could come together to fuel significant upside for the flagship crypto in the weeks ahead.

Chief among them is the potential for even more institutional adoption as big-money players continue to embrace Bitcoin as a legitimate asset class.

The AI model also cited Bitcoin’s growing status as a hedge against economic uncertainty in traditional markets.

With heightened geopolitical tensions and inflation concerns, everyday investors may flock to decentralized assets like BTC throughout 2024.

Finally, ChatGPT pointed to the role that ongoing technological advancements within Bitcoin’s ecosystem could play.

Improvements to scalability, and even new ideas like Runes, could enhance the network’s utility going forward.

Considering this potential convergence of positive forces, ChatGPT sees Bitcoin hitting the $100,000 mark in the near to medium-term.

While just a hypothetical forecast, this bullish target does align with Bitcoin’s historical pattern of setting new all-time highs after previous halvings.

Which Other Coins Does ChatGPT Think Could Surge?

While ChatGPT appears optimistic about Bitcoin’s upside potential, the AI model also offered insights on under-the-radar cryptos that could surge.

One project that seems to have caught ChatGPT’s attention is 99Bitcoins Token (99BTC) – which has raised over $650,000 since its presale kicked off.

ChatGPT Believes “Learn-to-Earn” Premise Could Lead to Gains for 99BTC

99Bitcoins Token represents 99Bitcoins’ ambitious move to integrate crypto learning with blockchain-based rewards.

Through interactive modules, quizzes, and tutorials, users can earn 99BTC tokens simply by engaging with educational content.

According to 99Bitcoins Token’s whitepaper, it will also enable access to premium courses, expert trading signals, community channels, and more – creating an entire ecosystem focused on crypto education.

But what does ChatGPT think about 99Bitcoins Token’s prospects once it lists on exchanges?

According to ChatGPT’s analysis, 99BTC could be poised for significant price appreciation given its groundbreaking “Learn-to-Earn” premise and well-designed tokenomics.

ChatGPT highlighted the token’s unique value proposition of rewarding users for learning as a major bullish catalyst.

This novel concept could attract a “broad user base” eager to enhance their crypto knowledge.

The AI model was also optimistic about 99BTC’s integration with Bitcoin’s new BRC-20 token standard.

This standard unlocks new utility through NFTs and other digital assets built on the Bitcoin blockchain – and ChatGPT believes 99Bitcoins Token’s adoption of BRC-20 could further boost its price potential.

Considering these factors and the sustainable tokenomics setup, ChatGPT offered up some lofty price targets.

Visit 99Bitcoins Token Presale

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

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Bitcoin Layer 2 Tokens Outperform BTC Post-Halving

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Bitcoin layer 2 solution tokens have demonstrated superior performance to BTC following the highly anticipated halving of the mining reward on the blockchain.

Since the event, these tokens have surged by 5% to 20%, outpacing the top crypto by market cap.

Stacks (STX) Takes Center Stage

According to CoinGecko data, the market cap for Bitcoin layer 2 solutions is $4.3 billion, marking a 5.6% increase in the past 24 hours. Meanwhile, the trading volume is $184 million.

Stacks (STX), a Bitcoin layer 2 solution, has been among the top-performing cryptocurrencies in the past 24 hours, according to CoinGecko data. The STX token has surged almost 20% to $2.87 since the halving event.

Bitcoin, on the other hand, has not experienced significant growth. The token is up slightly over 4.5% to $66,046 since the halving event, 1.7% over the last 24 hours, and down 0.8% over the last 7 days.

Bitcoin’s price saw significant volatility last week, dropping from over $66,800 to below $60,000. However, it has since recovered.

Other layer 2 tokens, such as Elastos’ ELA token and SatoshiVM’s SAVM, have also experienced gains of 11% and 5%, respectively, since the halving.

Other altcoins have observed slight daily gains, except for TON, which has experienced a significant double-digit decline despite Tether’s announcement of expanding to the TON blockchain.

Notably, Bitcoin layer 2 solutions address blockchain scalability and transaction speed limitations. These projects operate on the Bitcoin blockchain, offering scalability by processing transactions off the main chain.

Bitcoin Fees Surge

On April 20, when the halving occurred and the Runes protocol launched, Bitcoin transaction fees reached an average of $128.45, according to ycharts data. This figure is over six times higher than the average fee rate the day prior and approximately double the previous record set three years ago.

The fee surge can be attributed to the launch of the Runes protocol, which enables users to “etch” and mint tokens on the Bitcoin blockchain. The introduction of Runes prompted speculators to rush into minting tokens and trading meme coins, leading to increased transaction activity and, subsequently, higher transaction costs.

Notably, the fees have since come down, and the transaction fees dropped to $34.8 on April 21. Meanwhile, according to data from Ord.io, the total number of Runes inscriptions on the Bitcoin blockchain has already reached 3,700.

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