TL;DR

• Binance added XUSD, introduced BMT/USDT and MUBARAK/USDT perpetual contracts, and announced the removal of several margin trading pairs.

• Large investors offloaded over $70M in ADA, increasing selling pressure, though a spot ADA ETF approval could reverse the trend.

• Shiba Inu’s former lead developer remains inactive on X, but insiders are reassured that they are focused on the new ambassadorial role.

Binance’s Latest Listings/Delistings

Despite remaining silent on potential support for Pi Network’s native token, Binance has recently conducted numerous other amendments to its platform. Earlier this week, it revealed that it will list the stablecoin StraitsX USD (XUSD) on March 19. 

Shortly after the disclosure, the asset, which is pegged 1:1 to the American dollar, experienced a major rally to almost $1.80 before returning to its target. 

The world’s largest crypto exchange also introduced BMT/USDT and MUBARAK/USDT perpetual contracts with up to 25x leverage. The prices of both assets have soared by double digits due to the inclusion. 

Contrary to the new additions on the platform, Binance said it will remove some existing margin trading pairs on March 25. ALPHA/BTC, CTXC/BTC, DODO/BTC, IDEX/USDC, LISTA/FDUSD, NKN/BTC, and SAGA/BTC will be excluded from the cross margin section, whereas ALPHA/BTC, CTXC/BTC, DODO/BTC, FLM/BTC, IDEX/USDC, LISTA/FDUSD, and NKN/BTC will be scrapped from the isolated margin category.

The majority of the affected assets have witnessed minor losses, and their prices have remained relatively stable after the announcement. It is worth mentioning that a major pullback is usually observed when Binance terminates all services with a certain cryptocurrency. Such was the case in October last year when UNFI, OOKI, and other tokens crashed by double digits after the company withdrew its support.

ADA Whales on a Selling Spree

Cardano’s native token has lost some steam lately, and some important developments suggest that the correction might intensify in the short term.

According to the X user Ali Martinez, whales offloaded over 100 million ADA tokens last week. Similar continuous efforts increase the circulating supply of the asset, which could be a precursor of a further decline (if demand doesn’t catch up the pace). Additionally, large sell-offs coming from whales may scare other smaller investors and make them cash out, too.

On the other hand, a new resurgence of the cryptocurrency market or the potential approval of a spot ADA exchange-traded fund (ETF) in the US might significantly push the price in the opposite direction.

How’s SHIB Doing?

Lastly, we will touch upon the second-biggest meme coin, Shiba Inu (SHIB), whose former lead developer, using the pseudonym Shytoshi Kusama, has been surprisingly inactive on X lately. 

LUCIE (Shibarium’s marketing strategist) assured the community that this is not a cause for concern, reminding that Kusama has become an ambassador of the project and “is doing exactly what he announced he would.”

Many X users commenting on the post appreciated the information, with some predicting that the former leader may announce “groundbreaking” partnerships for Shiba Inu once they break their silence. 

XRP continues to hold above $2 which is a sign of strength.

Key Support levels: $2, $1.6

Key Resistance levels: $3, $3.4

1. Buyers Remains Firm

Even if the overall market was quite turbulent in the past few days, XRP managed to hold steady above the $2 support level. Most recently, buyers took the price to almost $2.5 before a shallow pullback. This shows that demand for XRP remains high.

2. Key Resistance at $3

To truly turn the chart bullish, XRP has to break the resistance at $3. This recent bounce on the $2 support is encouraging, but bulls will have to keep the pressure and move the price above $2.5 if they hope to test the key resistance.

3. Daily MACD Shows Promise

The daily MACD moving averages are making higher lows and the histogram is positive. This shows that the bullish momentum is building up. These are early signals that buyers may be waiting to return in force. If so, the price has a good shot to approach $3.

Dogecoin (DOGE), the world’s largest meme coin by market capitalization, is likely to rally when crypto market sentiment improves and the prices of digital assets stabilize, according to signals picked up by the on-chain analysis platform Santiment.

Santiment said Dogecoin’s utility and rising smart money signal a potential turning point and a bullish outlook for the asset.

Metrics Suggest Bullish Signals for DOGE

The market analytics platform urged investors to monitor the rising number of wallets holding at least 1 million DOGE. Since the start of February, these entities have grown by 1.24% (an additional 62 wallets).

Also, Dogecoin’s active addresses are at a four-month high. With over 150,000 active DOGE addresses per day, this metric is at a level not seen since mid-November 2024.

In addition to Santiment’s analysis, other market experts have identified signals that suggest DOGE is poised for a major reversal in the short term. A week ago, whales aggressively accumulated the meme coin, loading up 1.4 billion tokens in 24 hours on one occasion.

Historically, increased whale activity has caused a supply crunch that triggered a rally in prices. So, if whales continue accumulating DOGE, the meme coin may be on its way to a significant pump.

Moreover, the potential approval of a spot Dogecoin exchange-traded fund (ETF) in the United States could attract more capital into the ecosystem and push the asset’s value upward.

Dogecoin’s Price Outlook

While Dogecoin’s metrics are flashing positive signals, the cryptocurrency is down significantly due to the market-wide correction. After rallying to $0.41 on January 18, DOGE has tumbled by more than 63% to $0.15 in two months.

Data from CoinMarketCap shows DOGE is down 38% monthly. Although the asset has increased 5% in the last seven days, it is still down 2.5% daily. At the time of writing, DOGE was changing hands at $0.16, and its market cap was also down 2.5% daily.

Despite Dogecoin’s plunging value, some analysts are predicting that the asset could hit $1.1 in the next two months because it is showing a pattern similar to one seen in the 2017 bull run.