Day: January 2, 2024

Dogecoin Is Bullish? Crypto Analyst Gives Reasons Why Investors Should Pay Attention

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Crypto analyst Jaydee has made a bullish case for Dogecoin (DOGE) as he outlined several reasons why a significant price breakout may be on the horizon for the foremost meme coin. DOGE’s price saw a 370x gain the last time the indicators Jaydee highlighted materialized.  Why Crypto Investors Should Pay Attention To DOGE In a post on his X (formerly Twitter) platform, Jaydee noted three things that usually happen on the charts prior to DOGE experiencing a price breakout. The first indicator he mentioned was the Moving Average Convergence Divergence…

Is This the Next Bonk in the Crypto Space?

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In the ever-evolving landscape of cryptocurrencies, where new projects emerge at lightning speed, one name has been buzzing across social media platforms: Eggdog. In a matter of weeks, Eggdog has skyrocketed, capturing the attention of investors and enthusiasts alike, almost mirroring the meteoric rise of Bonk not too long ago. Within just two weeks, Eggdog made headlines by reaching a staggering $20 million in market capitalization, a feat that left many in awe and sparked comparisons to the early days of Bonk. The similarities in branding, meme-centric approach, and promising…

$3,830 & $5,100 Next Major Ethereum Targets According To This Model

An analyst has explained that $3,830 and $5,100 could be the next major targets for Ethereum based on an on-chain pricing model. Ethereum MVRV Pricing Bands Have Next Targets At $3,830 And $5,100 In a new post on X, analyst Ali talked about the next key targets for Ethereum based on the “MVRV Pricing Bands.” The “Market Value to Realized Value” (MVRV) is a popular ratio in on-chain analysis calculated by dividing the Bitcoin market cap by its realized cap. The “realized cap” here refers to a capitalization model for…

Polymarket investors confident of spot Bitcoin ETF nod by Jan. 15

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Traders taking bets on the platform predict a 90% chance the SEC will approve spot Bitcoin ETFs by mid-January, while the minority is hedging against the converse outcome. Shares of a “Bitcoin ETF approved by Jan 15” contract on Polymarket, a decentralized prediction venue, traded for 90 cents as speculation for a forthcoming decision from the U.S. Securities and Exchange Commission (SEC) dominated market sentiment.  At press time, the contract had attracted $441,315 worth of “YES” bets, with just 10% of traders choosing “NO”. These investors also admitted their opposing…

Kyrgyzstan witnesses major boost in tax revenue from crypto mining

Kyrgyzstan, a country possessing a wealth of untapped hydroelectric resources, has witnessed a sharp rise in tax revenues from crypto-mining activities in 2023. Reports from the Finance Ministry, as covered by the local press on Jan. 1, reveal that the Kyrgyzstan government amassed 78.6 million soms (approximately $883,000) in taxes from cryptocurrency miners during the first 11 months of 2023. The latest tax figure marks a substantial rise compared to the 11.1 million soms ($133,200) collected in the same period last year. 2023 witnessed a volatile trajectory in the tax…

Analyst Predicts XRP Price Breakout To $22.39, Here’s When

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The XRP price has been languishing in a protracted consolidation phase recently. Yet, a recently presented technical forecast by chart specialist Egrag Crypto suggests an impending shift in this trend may be on the horizon. The 5-day XRP/USD chart shared by Egrag suggests a potential price breakout, with a long-term price target above $22. Egrag’s commentary is vivid and emphatic: “XRP: IT IS BREWING: The chart for XRP is tightening up like a pressure cooker ready to blow! An eruption seems inevitable, and the anticipation is rising faster than ever.…

Bitcoin Tops $45K for First Time in 21 Months

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The rise in popularity of EVM-compliant blockchains and the parallelization process is driving the growth of the Sei Network’s SEI token, which has gained over 75% in the past week. Sei Network launched in August as a trading-focused blockchain backed by prominent investors Jump Crypto and Multicoin Capital. It was designed with a focus on speed, low fees and other features tuned to support certain kinds of trading apps. The network’s SEI tokens reached a $400 million capitalization within the first 24 hours after issuance, but gained little in the…

Developer asks community not to underestimate Bitcoin Ordinals

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Famous Bitcoin (BTC) developer Udi Wertheimer advocated for the adoption of Bitcoin Ordinals, despite widespread industry criticism. In a post on X, Wertheimer noted that many people reject the concept of Bitcoin Ordinals. However, he supported the adoption of Bitcoin Ordinals and opposed those who have sought to eliminate them. HOW TO KILL ORDINALS I’ve been contacted by multiple laser-eye maxis, and some bitcoin developers, who tried to understand “what’s going on” and “how can we stop this”. Here’s my advice. 1. Start using it. The number 1 issue you…