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Bitcoin bulls have failed to step in, increasing the chance for a retest of the $29,500 support. Bitcoin (BTC) remains stuck inside a narrow range, making it difficult to predict the direction of the next possible breakout. The United States dollar index (DXY), which generally moves in inverse correlation to Bitcoin, dropped below 100 but that has failed to propel Bitcoin higher. This suggests that Bitcoin is charting its own course in the near term. Therefore, the earnings season from big companies this week may sway the U.S. equities markets but may not have the same effect on Bitcoin. It is becoming increasingly difficult to pinpoint the event or the news flow that will cause Bitcoin’s price to escape the range. Daily cryptocurrency market performance. Source: Coin360 The uncertainty about Bitcoin’s next directional move has not deterred the whales. CryptoQuant’s contributing analyst SignalQuant highlighted that the on-chain indicator, the unspent transaction outputs, has been risi...

PEPE quietly pulled off a 100% rally earlier this week, raising questions on whether the frog-themed memecoin will become a serious Dogecoin competitor. A few months ago Pepecoin came and went, bringing quick, unimaginable riches to early investors and turning latecomers into reluctant bag holders. While the chart resembles the standard crypto pump-and-dump scheme, Pepecoin’s (PEPE) price action this week suggests that the frog-themed token could be the newest contender to Dogecoin (DOGE) in the memecoin sector. Dogecoin has dominated the memecoin space for years. Many copycats of dog-themed tokens, like Shiba Inu (SHIB) and Floki (FLOKI), have challenged DOGE’s position over the years but eventually faded. SHIB briefly surpassed DOGE in market capitalization after rising 1,000% to a peak valuation of $41.1 billion on Oct. 28, 2021. At the time, Dogecoin’s market capitalization was $31.5 billion. However, the near-vertical rally faded in the following weeks, and Dogecoin reclaimed i...

When billionaire and Dogecoin evangelist Elon Musk changed Twitter’s logo to the doge mascot in April, no one was laughing but him. According to a group of investors suing Musk, it’s just another example of the world’s richest man manipulating the memecoin’s price to engage in insider trading. In a proposed third amended complaint filed on Wednesday in Manhattan federal court, investors say Musk sold about $124 million of dogecoin after Twitter’s logo change led to a 30% price jump. The court case, ongoing since last June, argues that Musk used social media posts, paid online influencers, a Saturday Night Live appearance, and other “publicity stunts” to pump doge and sell at a profit. Musk was able to defraud investors through a “deliberate course of carnival barking, market manipulation and insider trading,” the latest filing read. The Tesla chief is accused of driving up dogecoin’s price by over 36,000% over two years and letting it crash. At the end of 2021, Protos investigated...

The recent volatility in the market has made it critical to predicting the price of Dogecoin. DOGE, the first-ever meme cryptocurrency, has garnered significant attention due to the active promotion of the asset by multibillionaire businessman Elon Musk. As an outcome of Musk’s actions, the price of DOGE has been significantly affected, with the asset’s value experiencing a notable increase due to the Tesla CEO’s most recent Twitter acquisition. Also read: Shiba Inu: How High Can SHIB Rise in 2023? The potential rise of Dogecoin in 2023 to reach $100 is a topic of interest for both crypto enthusiasts and investors. Let’s explore the world of Dogecoin and analyze the path towards achieving the $100 milestone. Can DOGE hit $100 in 10 years? When predicting the future price of cryptocurrencies, a range of factors must be considered. Historical data and trends are commonly used by some analysts, while others prefer technical Analysis and market sentiment to evaluate poten...

Elon Musk's Twitter removed the Dogecoin logo from its home button, pouring cold water on expectations that DOGE payments are coming. The price of Dogecoin (DOGE) dropped 4.6% to $0.0808 under the influence of a broader crypto market correction on April 12. This downside move preceded the release of the U.S. consumer price index (CPI), which showed inflation eased to its lowest level in two years. Dogecoin wipes out Elon Musk-led gains Dogecoin's latest price drop appeared also after Elon Musk-owned Twitter removed the token's official mascot — the Shiba Inu meme — from its home button to reinstate its original bluebird logo. Previously, DOGE price had surged by 30% to $0.104 on April 3 as speculations emerged that Musk is working on adding a Dogecoin payments on Twitter. DOGE/USD daily price chart. Source: TradingView Instead, the website removed the Dogecoin logo from its home button around April 7. Since then, DOGE price has lost 5.25% and has effectively wiped out i...

Bitcoin’s failure to clear the overhead resistance at $30,000 is attracting profit-booking in select altcoins. Bitcoin (BTC) has been trading below $29,000 for the past several days. The analyst community remains divided on the near-term prospects of Bitcoin. While some believe that Bitcoin could rise to $30,000, others are of the opinion that a local top has been made. Bloomberg Intelligence senior macro strategist Mike McGlone said that cryptocurrencies, along with the stock market, crude oil and copper may find it difficult to sustain the recent bounce because bank liquidity levels remain tight. Daily cryptocurrency market performance. Source: Coin360 On the other hand, SkyBridge Capital founder Anthony Scaramucci, while speaking with Yahoo Finance, said that Bitcoin’s bear market may be over, but he added that it was a guess. However, Scaramucci highlighted that Bitcoin has repeatedly outperformed other asset classes over the long term. Will Bitcoin turn down from the current leve...

Dogecoin (DOGE) has set off a meme coin rally after Elon Musk changed the Twitter logo to the famous Dogecoin meme. Now, DOGE has seen double-digit gains, reaching heights of plus 26% in the hours following the change. Conversely, the development has aided various meme coin s on the market. Despite its notoriety, Dogecoin has always seemingly depended on the influence of the Dogefather himself, Elon Musk. Subsequently, as the Tesla founder has placed the meme front and center of his social media platform, more than just DOGE has benefitted. Source: TheFace.com Floki, Shiba, and More Memes Rally Behind DOGE The prevalence of meme coins in the digital asset industry is difficult to understate. Moreover, their place in the market has been supported by some of the largest and most passionate communities that the entire consumer base has to offer. Now, Dogecoin has set off a meme coin rally after Elon Musk changed the Twitter logo. Specifically, Musk switched the tradit...

Technical charts are beginning to suggest that BTC is at the end of its bear market cycle, and traders believe this could yield positive results for most altcoins. Bitcoin (BTC) has been sustaining above the $25,000 level for the past few days, increasing the likelihood that the bear market may have ended. Generally, in the initial stages of a new bull phase, several analysts remain in a state of disbelief and expect the resumption of the downtrend. Another group of traders continue to wait for the dip to buy at lower levels but the price does not oblige. Finally, the traders sitting on the fence throw in the towel and buy and that is when the correction is likely to happen. Such a pullback shakes out the weak hands and transfers the asset into the hands of investors with conviction. Daily cryptocurrency market performance. Source: Coin360 When a new trend is getting established, certain events tend to cause a knee-jerk reaction but it is unlikely that the trend is reversed. In Bitco...

Bitcoin and U.S. equities markets are attempting to recover, but selling at overhead resistance could continue to weigh on the bullish momentum. Bitcoin (BTC) and the United States equities markets are trying to start the week on a positive note but some analysts are skeptical about the short-term prospects of the markets. According to Bloomberg Intelligence senior macro strategist Mike McGlone, Bitcoin will face significant resistance at $25,000. McGlone believes that it “may be a while before buy-and-hold types gain the upper hand.” It also looks like Bitcoin whales, unique entities owning 1,000 Bitcoin or more, are also not convinced of the recovery in the crypto markets. According to Glassnode, Bitcoin whale numbers have fallen to 1,663, which is well below the peak of 2,161 hit in February 2021. Daily cryptocurrency market performance. Source: Coin360 It is difficult to catch the bottom in any market. Hence, traders should try to build a portfolio when they believe that the downt...