Month: June 2024

Analyst Forecasts Meteoric 21,700% Rise To $17, Here’s When

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Crypto analyst Javon Marks has made an ultra-bullish prediction for the Dogecoin price in this bull run. The analyst claims that the foremost meme coin could attain such ambitious heights based on its performance in previous market cycles. Dogecoin To Rise As High As $17 In This Bull Run Marks shared a chart on his X (formerly Twitter) platform in which he predicted Dogecoin could enjoy a 21,700% price gain and rise to $17. The analyst made this forecast based on Dogecoin’s historical breakout trend, in which the meme coin…

Ripple CEO Expects SEC to Approve Spot XRP ETF Next Year

Ripple CEO Brad Garlinghouse believes that the U.S. Securities and Exchange Commission (SEC) will approve spot XRP ETFs next year, reiterating that they are inevitable. The executive discussed cryptocurrency regulations in the U.S., highlighting the SEC’s shift towards pragmatism after losing court battles. XRP ETFs Likely Approved Next Year, Ripple’s CEO Says Ripple CEO Brad […] Source CryptoX Portal

Meme coins drop over 10% following GameStop’s stock crash

Meme coins have experienced a notable decline alongside GameStop’s stock crash on June 7. Although the drop was smaller than GameStop’s, major meme coins like Pepe, Dogewheat, Floki, and Bonk fell by over 10%. The unpredictability of the market was evident as GameStop’s stock surged 47% the previous day in anticipation of a live broadcast by Keith Gill, known as ‘Roaring Kitty,’ who had led the GameStop rally. However, the stock price plummeted by as much as 40% after the 50-minute broadcast, which offered no new information. The unpredictability also…

Bitcoin ETFs see inflows despite crypto market fluctuation

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The U.S. spot Bitcoin (BTC) exchange-traded funds (ETFs) witnessed an influx of $131 million on June 7, marking 19 consecutive days of positive inflows.  This occurred even as the ARK 21Shares Bitcoin ETF (ARKB) saw net outflows totaling 1,364 valued at about $96.84 million, leaving its total holdings at 48,939 BTC, or $3.47 billion. According to Lookonchain, a notable 3,689 BTC, equivalent to $261.91 million, was added across nine different ETFs on June 7. The influx was primarily driven by BlackRock, which added 4,896 BTC worth $347.61 million to its…

Crypto market plunges $96b following strong US jobs report

In the last 24 hours, the crypto market lost more than $96 billion as major cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), faced corrections. Bitcoin, the leading cryptocurrency, saw a sharp drop to an intraday low of $68,507. At the time of going to press, the cryptocurrency was priced at $69,321 — a 2.57% dip from the previous 24 hours. Additionally, Bitcoin’s 24-hour trading volume went down by more than 4% to $28.1 billion. The correction came on the back of Bitcoin hitting a multi-week high of $72,000 on June…

Ethereum Drops Below 4-Hour SMA: Analyzing The Impact

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Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has recently seen its price fall below the 4-hour Simple Moving Average (SMA). This technical development is noteworthy for traders and investors, as the 4-hour SMA is often used to gauge short-term market momentum. When a cryptocurrency’s price drops below this moving average, it can signal a potential shift in market sentiment from bullish to bearish. This could imply increased selling pressure and a possible downward trend continuation. The implications of this price movement extend beyond technical analysis, as broader market conditions,…

Roaring Kitty Livestream Draws 700,000 Viewers Despite Gamestop’s Plunge

On Friday, the prominent investor Keith Gill, known by his online alias “Roaring Kitty,” conducted a livestream, arriving 25 minutes late and covered in bandages. Gamestop shares tumbled 39.38% on Friday after being halted multiple times during his broadcast. Keith Gill’s Late Appearance and Bandaged Look Coincide with Gamestop’s Sharp Drop Meme stocks ended the […] Source CryptoX Portal

Ripple’s 150 Million XRP Sale Keeps Price Surpressed Amid Bearish Headwinds

Ripple has again raised concerns in the XRP community following its recent XRP sale. This comes amid XRP’s unimpressive price action, which continues to paint a bearish outlook for the crypto token.  Ripple Sells 150 Million Tokens On-chain data shows that the crypto firm offloaded 150 million XRP tokens ($78 million) on June 7. These tokens formed part of the 1 billion XRP tokens, which were recently unlocked as part of its monthly escrow unlock, which is set to continue until 2027. As expected, this sale has raised concerns, considering…