Microsoft should Buy $78 billion worth of Bitcoins

As a person who has used Microsoft products all my life, I watch with pain how they lose money on bitcoins. The company's cash reserves of $78 billion are depreciating daily. Meanwhile, they stubbornly refuse to follow the proven MicroStrategy strategy of converting melting dollars into scarce bitcoins!

A couple of months ago, Microsoft announced that it would buy back shares worth up to $60 billion; it doesn't seem to have had any effect on the stock price increase. Imagine if they bought Bitcoin instead. This money would be much more efficient if it were invested in bitcoin. The company's market capitalization would probably have grown by hundreds of billions.

Just take a look at MicroStrategy. In just four years, they turned their $1 billion company into a $100 billion company by accepting bitcoin as a reserve asset. Now they are the most attractive and successful company in the field of corporate finance, their shares have shown the best results in the last four years, ahead of all American companies, even NVIDIA.

However, Microsoft adheres to an outdated financial strategy that reduces the value of shares. Microsoft should follow its technological instincts, not erroneous financial logic. Storing cash is impractical in the long term.

Yesterday I listened to the X Spaces podcast, during which MicroStrategy CEO Michael Saylor revealed that he offered to explain the benefits of bitcoin in private, but Microsoft CEO Satya Nadella declined the offer. Now he's making one last attempt by presenting a 3-minute bitcoin proposal to Microsoft's board of directors.

Earlier, the board of directors had already recommended that shareholders abandon the assessment of the potential growth of bitcoin. Nevertheless, I wonder how this meeting will end. Saylor is an excellent teacher, so you never know for sure.

They should understand that no corporate asset, such as bitcoin, can increase the value of an enterprise. Even a small investment in bitcoin worth $5 billion can increase the market capitalization by tens of billions.

Listen, Microsoft, the choice is obvious: hoard melting dollars or accept uncensored digital gold. Your shareholders are begging you to buy Bitcoin. It's time to listen before these 78 billion dollars disappear. This is your fiduciary duty as Bitcoin continues to gain popularity.

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Solana (SOL) has updated the absolute maximum

The fourth largest cryptocurrency by capitalization, Solana (SOL), has updated the absolute maximum value. Earlier, analysts warned that the coin is on the threshold of ATH

We tell you what is happening with Solana and whether the cryptocurrency will be able to maintain a positive momentum.

On the morning of November 22, 2024, Solana updated the absolute maximum (ATH) at $263. After that, the cryptocurrency went into correction. As of the time of writing, Solana is trading at $260.

Earlier, Ryan Lee, chief analyst at Bitget Research, warned that Solana is on the verge of updating the maximum. According to our interlocutor, SOL was in a winning position due to the interest in the platform from speculators. The expert believes that the coin has every chance to continue growing.

The movement of Solana to a new maximum was supported by the overall positive of the crypto market, which is associated with the victory of Donald Trump in the US presidential election. The politician made many promises to the participants of the crypto community. For example, Trump plans to form a bitcoin reserve in the United States.

The politician also promised crypto investors to reduce regulatory pressure. To this end, he proposed firing the head of the U.S. Securities and Exchange Commission (SEC), Gary Gensler. Under his control, the regulator launched unprecedented repression against the crypto industry. On the evening of November 21, information appeared on the network that Gensler would leave his post in January 2025. The news was positive for the entire crypto market, including Solana.

Recall that the commissioners tried to prove that SOL is an unregistered security. A waiver and a change in SEC leadership could pave the way for the launch of Solana-ETFs and other derivatives.

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The memcoin index has reached ATH thanks to new listings

The GMCI Meme Meme index tracked by The Block increased by 8.8% over the week, setting a new high (537.99 p.). The catalyst was the addition of Pepe (PEPE) and Dogwifhat (WIF) to the list of instruments on Coinbase and Robinhood.

Memcoin listings are unprecedented and signal a change in the strategy of large platforms, the publication noted.

At the time of writing, PEPE is showing weekly growth of 8.4%, while WIF has turned negative (-4.1%). At the moment, the positive dynamics reached 70% and 32%, respectively.

Bonk (BONK) was another leader — its growth decreased by about half, from more than 100% to 51.8%.

Peanut the Squirrel (PNUT) also caused a stir. On November 13, the Peanut the Squirrel (PNUT) meme coin rose in price four times a day, but over the past seven days the asset has sunk by 27%.

The mascot of PNUT was a squirrel named Peanut, who lived with the owner in New York. On October 30, the authorities took the animal away and later euthanized it.

Due to the media popularity of Peanuts, the news caused a resonance in social networks and attracted the attention of influencers, including Elon Musk and Donald Trump Jr.

Over the past month, GMCI Meme has grown by 78.2%, outperforming indexes in other categories.

Recall that in October, the GOAT meme coin grew by almost 2000% in two days. The rise was accompanied by rumors that the project was created by the Andreessen Horowitz-funded AI bot Truth Terminal.

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The expert named the driver for bitcoin's growth to $100,000

The influx of $9.7 billion into stablecoins over the past 30 days will bring the rate of the first cryptocurrency to the $100,000 mark by the end of November. This was stated by Leon Weidman, head of The Onchain Foundation's research department.

"The largest monthly influx in history. [...] Speculative demand continues to grow!" he said.

A similar view is shared by Ryan Lee, chief analyst at Bitget Research.

"If history repeats itself, there remains a growth potential of 14.7%, which is much higher than the goal of $100,000. The trend of post—trading is very positive when predicting the future of bitcoin," the expert said.

Inflows into BTC-ETFs also provide support. On November 20, $773 million was received into products. The positive dynamics continued for the third day in a row.

The volume of assets in the instruments exceeded $100 billion (5.4% of the capitalization of digital gold).

Since the approval, investors have sent $29.35 billion to exchange-traded funds.

Earlier, the launch of options on the BTC-ETF threw bitcoin to ATH near $ 94,000.

Recall that Glassnode noted that the price of the first cryptocurrency did not reach the levels for profit-taking by hodlers.CryptoQuant stressed that so far only one of the five signals indicates the end of the bitcoin rally

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Open interest in Bitcoin futures has set a record high above $64 billion

-- Open interest in Bitcoin futures has updated ATH.
-- The figure exceeded $64 billion.
-- The rate of the first cryptocurrency is approaching the $100,000 mark.

On November 21, 2024, open interest (OI) in bitcoin futures updated the historical maximum, reaching $64.30 billion, according to CoinGlass.

Over the past 24 hours, the largest increase in OI for bitcoin futures was recorded on the BingX platform — 26.62%. On the Chicago Mercantile Exchange (CME), the index rose by 7.86%. The Binance and Bybit cryptocurrency exchanges recorded an increase in interest by 6.62% and 3.28%, respectively.

According to CoinGlass, open interest in bitcoin is the total number of active futures or options contracts for bitcoin that have not yet been executed. This indicator reflects the amount of funds invested in bitcoin derivatives at a particular moment.

Note that the open interest in bitcoin futures on CME has reached almost $ 21.25 billion, which is a historical maximum. The indicator increased by about a third after Donald Trump's victory in the US presidential election. On Binance, the level exceeded the $12 billion mark.

The rate of the first cryptocurrency is showing growth. Over the past 24 hours, the asset price has risen by 3.1% and at the time of writing is about $97,500. Since Trump's victory, the asset has grown by about $30,000.

Recall that on November 19, 2024, trading in options for bitcoin ETFs from IBIT began. On the first day, the trading volume for this product amounted to about $1.9 billion in nominal liability.

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FLOKI is eyeing a new ATH after a 128% increase. Will he be able to overcome the $0.0006 mark?

FLOKI's impressive 128% rise is now targeting the neck line at $0.00032049, aiming for a breakout that could push the price to a new historical high.

As the market recovers, and bitcoin recently reached a new historical high of $97,900, meme coins are making significant movements. Floki, in particular, stands out, showing a 7.21% jump and delivering a remarkable 700% return over the past year.

The market capitalization of meme coins rises above the $110 billion mark and is preparing for a bullish trend ahead. Will the ongoing recovery in the broader market, combined with the rise of meme coins, lift the Floki price to new historical highs? Let's take a closer look.

On the daily chart, FLOKI shows a powerful reversal growth, rising by 128% in just 17 days after rebounding from the support level of $0.000146.

FLOKI is currently trading at $0.00026, exceeding the key Fibonacci level of 78.60% at $0.00025. This marks an important psychological milestone, and the recent bullish engulfing candle reinforces the uptrend.

Supporting this bullish forecast, the overnight surge caused the growth of the lines of the VI DMI indicator. This delayed the negative crossing and contributed to the growth of the ADX line, signaling a stronger trend momentum.

In addition, the exponential moving averages (EMA) for the 50-day, 100-day and 200-day periods remain positively aligned, further supporting the bullish trend.

Will FLOKI reach the new ATH?

A slight intraday pullback of 1.30% serves as a small retest of the critical breakout zone. The price action involves rounding the reversal, which now positions FLOKI to test the neck line at the previous swing high of $0.00032049.

After this retest, a rebound could lead the price to target a new historical high above $0.003487. Fibonacci retracement levels suggest potential price targets of $0.00042 and $0.00062, which corresponds to Fibonacci extensions of 1.272 and 1.618, respectively.

On the other hand, a slide below the 78.60% Fibonacci level will lead to a decrease in the price before retesting the support levels at $0.000227 or $0.00020.

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The capitalization of SUI dropped by $900 million

There was a serious glitch in the Sui network today. According to Suivision and Suiscan, the blockchain stopped producing blocks at 12:15 Moscow time and has not yet restored its operation. This has caused serious concerns among the participants of the crypto community. Meanwhile, the quotes of the SUI cryptocurrency fell by 9.2% to $3.42. The capitalization of the project lost about $900 million and dropped to $9.76 billion.

The Sui team promptly responded to the incident. According to community representatives, the problem is related to errors in some validators. The developers are actively studying the situation and trying to restore the stability of the network. However, no specific time frame for the decision has yet been announced. The fall in the value of the native digital asset and the network failure is causing concern to investors, who are afraid of further problems and a possible decrease in confidence in the project.

It is worth noting that 2 days ago, the main Sui network was updated to version 1.37.3, and the protocol to version 68. The update was supposed to improve network performance and reliability. However, it is possible that the failure may be due to recent changes in the system.

Analysts believe that prolonged shutdowns of the blockchain can negatively affect Sui's position in the market. Competitors, including Ethereum and Solana, continue to develop their ecosystems and attract users. and Sui may lose part of the audience if it does not fix the problem promptly.

The situation remains tense. Investors are advised to keep an eye on updates from the project team. Returning the network to normal operation and a convincing explanation of the reasons for the failure can mitigate the consequences. However, if the problem drags on, it may lead to a deeper drop in the price of the token and a decrease in interest in the project.

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Bots could provide record figures in the Solana blockchain

According to Glassnode, on November 16, the volume of transactions in the Solana blockchain reached a record high of $318 billion. This is almost three times higher than the market capitalization of the Solana (SOL) cryptocurrency, which currently stands at about $112.5 billion. The number of active addresses on the network has also grown to a maximum of 22 million.

Experts from the analytical company Glassnode noted that at the same time, the average volume of transactions on the Solana network decreased. This raised questions among experts about the reliability of blockchain indicators, since organic growth is accompanied by an increase in average indicators.

Such dynamics of growth in network activity may indicate the activity of bots on the Solana network," Glassnode analysts wrote.

Another record indicator of Solana, which was doubted by experts, was the maximum trading volume of $6.93 billion on the network's DEX platforms. Thus, according to DefiLlama, on November 19, the Raydium exchange accounted for 74% of the total trading volume. However, a closer analysis of the exchange's liquidity pools shows that many of them have virtually no liquidity and generate unrealistic trading volumes.

For example, there was only $7 of liquidity in the SOL-HAT pool, but the trading volume per day was almost $400,000.

This is not the first time that Glassnode analysts have claimed the presence of inorganic activity in Solana. On November 4, they claimed that "the sharp increase in the volume of transactions on the network was caused by the high activity of wallets using multiple accounts."

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Cardano (ADA) may fall below $0.70 and here's why

Recently, the Cardano (ADA) exchange rate tried to break through the $0.80 mark, but failed. Since then, the price has rolled back and cannot recover in any way, which causes concern and pessimism among investors

We are looking into what is happening with Cardano (ADA) and how real the risks of further decline are.

Cardano's liquidity concentration is decreasing

According to Coinglass, the liquidation map is one of the key indicators suggesting that the price of ADA may decrease. This map shows the price levels at which mass liquidations can occur, and also identifies price zones with a high concentration of liquidity.

The Cardano liquidation map shows that the concentration area has shifted to $0.69. This means that the asset price may roll back from current levels to $0.69 in the near future. In general, this forecast is consistent with market conditions.

The drop in ADA trading volume also hints at a potential price drop. This figure has decreased from almost $6 billion on November 16 to $1.78 billion today. This means that the market's interest in Cardano is falling.

The combination of the two factors described above increases the likelihood of the cryptocurrency falling in the near future.

ADA Forecast: Next stop is $0.63

At the time of writing this analysis, ADA is trading at $0.7271, having not shown any strongly directional dynamics in the last 24 hours. Nevertheless, over the past seven and 14 days, cryptocurrencies have increased in price by 27% and 119%, respectively.

The daily chart (attached below) shows that the distance between the Bollinger Bands (BB) is increasing. This technical indicator helps to measure the level of volatility of the cryptocurrency, as well as the degree of its overbought/oversold.

In the case of Cardano, the location of the indicator suggests that the rate is in danger of a drawdown below $0.68. If the selling pressure increases further, the altcoin may fall in price to $ 0.63.

Under favorable conditions, however, ADA will get a chance to climb to the $0.82 mark. This will happen if the activity of buyers increases, and investors prefer to hold assets rather than sell them.

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This week's Top New tokens: Bitfinity, MicroGPT and MemeFi

New projects are constantly emerging in the world of cryptocurrencies, and the key event for any beginner blockchain project is the generation of tokens (TGE)

During the TGE, the crypto project creates tokens and distributes them to investors and users. This step is the next step after attracting investment and product development. We tell you which tokens attracted the attention of the crypto community this week.

Tokens worth paying attention to this week

After TGE, tokens become available for trading or use in the project ecosystem. A successful TGE can significantly increase the interest and liquidity of the project, determining its further growth.

For investors, this is a chance to purchase coins at an early stage, often at lower prices. Here are the projects releasing tokens this week.

Bitfinity (BTF)
Bitfinity is a second—tier network for the Bitcoin ecosystem, created on the basis of the Internet Computer Protocol (ICP) using the Ethereum Virtual Machine (EVM). In the latest round of financing, the project raised $130 million from companies such as Polychain Capital and ParaFi Capital.

Zyfi (ZFI)
Zyfi is a payment service with convenient integration. In the last round, the project received $2 million in financing, and its estimated cost rose to $20 million. The TGE of the ZFI token will be held on November 19 with the support of PancakeSwap. The exact time and exchange will be announced later.

MicroGPT (MICRO)
This is an artificial intelligence platform. It offers developers AI-based tools that will help improve development efficiency. MicroGPT is designed to optimize and democratize software development.

It is not yet known how much funds the project has managed to raise, but TGE will take place on November 20 at 19:00 UTC (22:00 Moscow time), and the MICRO token will appear on exchanges Gate.io and MEXC. In the last round of financing, the estimated cost of the project reached $3.5 million.

Ponder (PNDR)
Ponder is an AI engine for comparing web3 trends. It is powered by EigenLayer and offers a fully integrated tool for comparing cryptocurrency transactions.

The project attracted private financing in the amount of $1.1 million, and its estimated cost in the last round reached $10 million. The listing will take place on the KuCoin crypto exchange at a price of $0.10, and TGE is scheduled for November 20.

MemeFi (MEMEFI)
This is a web3 game combining PvP and PvE gameplay. The amount of private financing remains unknown, but the project reached an estimate of $125 million in the previous round. Exchanges for listing include OKX, Bitget, Bybit and Gate.io , and TGE is scheduled for November 22 at 13:00 UTC (16:00 Moscow time).

The TGE of these projects opens up interesting opportunities and helps to attract liquidity to the market. However, it is important for investors to conduct their own research.

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DOGE: Long-term investors continue to sell

The popular memcoin Dogecoin (DOGE) recently reached a three-year high of $0.43, but then dropped to $0.38

On-chain analysis shows that the sudden rise in price has forced many long-term holders to start taking profits. If this trend continues, DOGE may soon lose a significant portion of the points scored.

Long-term hodlers lock in profits

The on-chain indicator of Mean coin age has decreased by 1% over the past week, according to data from Santiment. The average age of the coins shows how long, on average, the coins are in possession before they are moved or sold. The decrease in this indicator indicates that coins that have been stored for a long time are starting to be sold more actively. This is often considered a bearish signal that long-term holders are starting to take profits.

High indicators of the market and realized value ratio (MVRV) indicate that memcoin may be overvalued now. This could encourage his long-term hodlers to sell tokens to lock in profits. According to Santiment, the current MVRV ratio for DOGE is 232.36%.

MVRV is a key indicator of an asset's profitability. He compares its current market value with the price at which the coins were last moved on the blockchain. This allows you to see how much the price differs from historical trends. A positive MVRV value indicates that the market value is higher than realized. This may indicate that the asset is overvalued. Many investors view this as a sell signal to lock in profits.

The MVRV value of 236.36% means that its current market value is 236% higher than realized. If all holders decide to sell their coins, they can earn an average of 236% profit. Such a high MVRV indicator may portend a period of price correction, as more investors will begin to take profits.

DOGE Forecast: Long-term investors should stop selling

DOGE is currently trading slightly below the $0.39 resistance level. Increased sales may push the price back to the $0.31 support level. If he does not stand, the coin may fall even lower, to $0.30, and potentially to $0.21.

This will significantly reduce the chances of memcoin rallying above $0.47 and returning to the $0.50 mark, which it has not visited since May 2021.

However, if the market mood improves and long-term hodlers hold their assets, increased demand for DOGE may push the price above $0.47. This will bring it closer to the $0.50 mark again.

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Italian lawmakers oppose raising the tax on cryptocurrencies

Italian lawmakers are opposed to the government's plans to raise taxes on capital gains and expand the scope of crypto assets. These proposals, which underpin Prime Minister Georgia Meloni's 2024 budget, have been criticized for potentially hindering innovation and affecting small businesses.

They insist on a compromise on the cryptocurrency tax

Economy Minister Giancarlo Giorgetti has proposed raising the capital gains tax on cryptocurrencies from 26% to 42%, bringing it in line with other financial income. However, some members of his ruling coalition reportedly oppose a sharp tax increase and propose limiting its increase to 28%, Reuters reports.

Against the background of the internal split, Giorgetti made it clear that he was ready to reconsider his position and explore alternative tax structures to resolve differences. The debate also focuses on the digital tax in Italy, a levy introduced in 2019 and aimed at tech giants such as Meta, Google and Amazon. This restriction is designed to find a balance between generating income and maintaining market competitiveness.

The current tax of 3% applies only to companies with annual income worldwide of more than 750 million euros and income in Italy of more than 5.5 million euros. The Ministry of Finance's proposal to abolish these thresholds has raised concerns about the impact on small and medium-sized enterprises. In response, the Forward Italy party, which is part of the ruling coalition, introduced an amendment to maintain these thresholds.

Legislators argue that the thresholds prevent excessive financial burden on small and medium-sized enterprises, while at the same time placing a tax burden on large multinational corporations. Proponents of the expansion of the digital tax argue that it can strengthen Italy's financial position. However, opponents warn of potential diplomatic tensions with the United States, which has criticized such fees as discriminatory against American companies.

Income balancing and diplomacy

Proponents of the expansion of the digital tax argue that it can strengthen Italy's financial position. However, opponents warn of potential diplomatic tensions with the United States, which has criticized such fees as discriminatory against American companies. Giorgetti acknowledged these problems and suggested that maintaining targeted measures could help avoid further controversy.

With more than 300 proposed amendments to the 2024 budget, the debate on taxes on cryptocurrencies and Internet resources now poses a serious problem for Prime Minister Meloni's government.

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The price of bitcoin has once again set a price high above $94,000

On the evening of November 19, bitcoin (BTC) rose by 3.3% and set a new price record at $94,040. However, its price quickly adjusted to the range of $92,000.

The daily price spike coincided with brisk trading activity: in just 24 hours, $84.79 billion worth of bitcoins changed hands. Sharp price fluctuations also triggered a wave of liquidations in the derivatives market, destroying $44.4 million of BTC short positions over the same period of time.

The growth of bitcoin indicates its emergence as a heavyweight in the financial arena, which attracts huge investments and arouses the interest of traders. Experts attribute this latest growth to the actions of organizations, as well as to the hype around regulated trading options aimed at the Blackrock IBIT exchange-traded fund (ETF).

It is possible that retail and institutional players finally saw bitcoin as a hedge against economic uncertainty, appreciating its independence from government actions, protection from censorship and inflation due to limited supply.

The longevity of this momentum remains unknown, but analysts predicting growth to a new record of $100,000 by the end of 2024 have found support for their assumptions.

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Michael Saylor will tell Microsoft Board about the Bitcoin purchase strategy

Bitcoin bull and chairman of the board of directors of MicroStrategy, Michael Saylor, says he has agreed to give a three-minute presentation to the Microsoft board of directors about investing in bitcoin.

"The activist who drafted this proposal contacted me to present it to the board of directors, and I agreed to make a three—minute presentation — that's all I'm allowed to do—and I'm going to present it to the board of directors," Saylor said at X Spaces hosted by VanEck on November 19.

Saylor said he had previously offered to meet with Microsoft CEO Satya Nadella "in private" to discuss the topic, but the offer was not accepted.

"So you'll see me putting together a three—minute proposal for Microsoft [...] and we'll send it to the board of directors," he added.

The proposal was put forward by the National Center for Public Policy Research (NCPPR), which drew attention to MicroStrategy's investment strategy for bitcoin and the fact that MicroStrategy's share price surpassed Microsoft's share price by more than 300% this year, "despite the fact that the company is engaged in only part of Microsoft's business."

"I think it's a good idea to put it on the agenda of every company. It should be on the agenda of Berkshire Hathaway, Apple, Google and Meta, because they all have huge amounts of money, and they all burn shareholder value," Saylor continued.

He claimed that 98.5% of Microsoft's enterprise value (the total value of the company) depends on quarterly profit, while 1.5% of the share price is accounted for by tangible assets.

"Stocks would be much more stable and less risky if half of their value was based on tangible assets or property such as bitcoin. So I think there are good arguments to be made. I think the shareholders should do it."

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Bitcoin (BTC) Reaches a Critical Price Level

In addition to exceeding previous highs, Bitcoin reached a critical price level of $92,000, which strengthened its position in the current bullish cycle. As Bitcoin has once again proven its resilience and growth potential, this milestone gives new hope to the market. A significant change in market sentiment is reflected in the chart, which shows that Bitcoin has decisively broken above the long descending channel. This breakthrough is accompanied by high volume, which indicates the active participation of both institutional and retail investors.

Once a difficult target, the $90,000 level is now a possible support area for the cryptocurrency. Investors expect the $100,000 mark to be the next significant psychological and technical barrier. Bitcoin can set the stage for a much bigger rally if it can maintain its current momentum and successfully break through this level. Such breakthroughs often lead to exponential growth, according to historical data, especially when combined with a robust macroeconomic environment and growing adoption. On the other hand, Bitcoin should remain above $85,000, the most important support level.

A short-term correction that tests lower support levels around $75,000 may result from any breakout of this level. However, the structure of the market as a whole is still optimistic, and a decrease may provide chances for additional accumulation. Since Bitcoin surpassed its previous peak, the market is overwhelmingly in a positive mood.

Given that the asset appears to be strengthening its position as a reliable means of saving in the long term, investors are particularly optimistic. The goal of Bitcoin traders should be to maintain current support levels and monitor the approach to the $100,000 mark, which can become a door to even greater heights.

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The price of Cardano has separated from other altcoins: an increase of 50% in 7 days

The price of Cardano (ADA) has increased by more than 50% over the past week, separating itself from the broader altcoin market. The Cardano price has shown impressive growth in all time intervals. It grew by 12.4% in 24 hours, by 128.3% in a month, and by 108.3% in a year.

Cardano outlines strategic plans

Charles Hoskinson's recent high-profile meetings with industry leaders have revealed Cardano's ambitious expansion plans. The project held productive collaboration talks with Brad Garlinghouse of Ripple, and also met with Stellar founder Jed McCaleb to explore integration opportunities.

These discussions focused mainly on the development of the Midnight project and emphasized inter-network compatibility and ecosystem growth.

Hoskinson announced plans to hire specialists to make Cardano the "dominant platform for Bitcoin DeFi."

This initiative is consistent with what the Bitcoin OS analyst calls a "winning bet" — Cardano's positioning as Bitcoin's "best friend" in 2025. The strategy is aimed at using Bitcoin's brand and capital, as well as expanding the functionality of DeFi.

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Large investors have started investing in unpopular cryptocurrencies

This week, the activity of large investors has shifted from large-cap cryptocurrencies to less well-known projects. According to the analytical company Santiment, a significant increase in the number of crypto deposit transactions is observed in the cryptocurrencies Frax (FRAX), USDD and Axelar (AXL).

FRAX in the Arbitrum network recorded an 850% increase in the number of transactions of large market participants. The current price of the asset is at $0.995842, and the trading volume in 24 hours reached $15.57 million. Despite the fact that the price of Frax has risen by only 0.01% over the past day, this activity indicates a growing interest in the project from whales.

The activity of large holders in USDD on Ethereum also increased by 700%. The trading volume of the stablecoin amounted to $7.87 million. The number of whale transactions with First Digital USD (FDUSD), another Ethereum stablecoin, increased by 397.06%. Despite a slight decrease of 0.01% to $0.998021, trading volume rose to $9.94 billion.

Axelar (AXL), known for its compatibility solutions, has recorded a 300% increase in the number of large transactions. The current price of the asset is $0.699676, which is 2.09% lower than the day before. However, the trading volume rose to $20.48 million.

Among other cryptocurrencies that noted an increase in the activity of large holders, analysts at Santiment named MANTRA (OM), the FTX token (FTT), Sandbox (SAND), Rocket Pool ETH (RETH), Quant (QNT) and JasmyCoin (JASMY).

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The Sui rate recovered after the network resumed operation

The exchange rate of the digital currency Sui (SUI) quickly rose to $3.64 after a temporary network outage that occurred due to an error in the transaction planning logic. Less than an hour ago, the cryptocurrency quotes were barely above the value of $3.4, having lost almost 10% in a few hours. It is reported that for about 2 hours, users could not perform operations, which caused a short-term drop in the value of the asset. However, the development team and network validators promptly fixed the problem by restoring the functionality of the blockchain.

Earlier, the developers confirmed that the problem had been identified and the prepared fix was quickly implemented. This helped reduce the negative impact on users and maintain trust in the network, as well as stabilize the value of the cryptocurrency, which returned to the 17th place in terms of maximum capitalization in the market with a result of $10.31 billion.

The restoration of the network was accompanied by a sharp increase in trader activity, which was reflected in the price chart. Analysts suggest that confidence in Sui's technical support remains strong, which has encouraged investors to return.

Such incidents highlight the importance of stability in the blockchain. A quick solution to the problem strengthens the reputation of the network and demonstrates the professionalism of the developers. Sui continues to hold its position as one of the key players in the market.

Recall that a few days ago, the developers updated the main Sui network to version 1.37.3. In addition, they launched an update of the protocol to version 68. The upgrade is designed to increase performance, as well as the security of the blockchain. At the moment, it is possible that problems with the stable operation of the network could be caused by these updates.

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A Bloomberg analyst named the best date to apply for a Dogecoin ETF

Bloomberg senior ETF analyst Eric Balchunas recently predicted the filing date for the Dogecoin ETF as the idea is gaining momentum.

Dogecoin has been at the center of a bullish rally this cycle. In addition to the recent outstanding price figures, the token's ties to Elon Musk have contributed to the growing interest in the meme coin.

Interestingly, Elon Musk has stated that he is not serious about Dogecoin. However, his role in the creation of the parastatal Department of Government Efficiency (DOGE), named after the leading meme coin, represents one of his moves that inspires Dogecoin supporters.

Although Dogecoin remains a joke coin, its growing popularity has provoked speculation about an exchange-traded fund that tracks the performance of the asset. With the noise growing, Bloomberg senior analyst Eric Balchunas recently developed this idea.

The best date to Apply for a Dogecoin ETF

In response to X's message, Balchunas noted that December 31 is the best time to apply for a Dogecoin ETF.

In the context of his comment, the ETF expert seems to be repeating the words of the president of the ETF Store, Nate Geraci. For context, Geraci bluntly told the user who asked when the issuer would apply for the Dogecoin ETF that it was "obvious."

The president of the ETF Store argued that any issuer applying for a DOGE ETF could do so for brand promotion rather than financial gain, implying that submitting an application would be a marketing ploy to endear themselves to the Dogecoin community. It is noteworthy that the similarity of this step is the application for an XRP ETF from the recently debuted asset manager Canary Capitals.

Meanwhile, Balchunas previously stated that the Dogecoin ETF is not as unusual as it seems. Noting that he was surprised that no issuer had applied for the product, he hinted that the application might already be prepared.

The upcoming application for the Cardano ETF?

The update of applications from well-known ETF issuers preceded Geraci's comments on Dogecoin. The president mentioned crypto assets with an ETF application pending approval by the U.S. Securities and Exchange Commission (SEC), including Solana, XRP and most recently Hedera.

After the update, Geraci claims that at least one issuer will eventually apply for a Cardano or Avalanche ETF. These two heavyweights are notable assets in the crypto industry, ranking ninth and thirteenth in the market capitalization rankings, respectively.

The Trump administration is promising friendlier regulation of cryptocurrencies for digital assets, which is likely to lead to more ETF approvals. If this becomes a reality, analysts expect a flurry of applications for ETFs.

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The analyst says that Dogecoin will continue to grow, and defines a structure with a rounded bottom

Well-known cryptanalyst Cobra Vanguard has highlighted the bullish structure forming on the weekly Dogecoin chart.

His recent analysis suggests that the meme coin may be preparing for a rally towards the $1 mark, a psychological level that DOGE has been following for many years. The latest analysis is based on Dogecoin's recent uptrend, during which it rose to $0.44 before facing a pullback.

The rounded bottom of Dogecoin and the AB=CD pattern

Cobra Vanguard has shared a weekly chart showing the rounded bottom that has formed for Dogecoin since the beginning of 2021. This is a bullish structure that often indicates an impending price breakout after prolonged consolidation.

For reference, a rounded bottom indicates a growing accumulation of the market, where bearish momentum is fading, setting the stage for a bullish revival. On the Cobra Vanguard chart, the Dogecoin price recently broke through the rounded base at $0.35 and is currently at $0.39.

The analyst predicts a harmonic model AB=CD, where the price may rise to $0.68. This represents a Fibonacci projection of 1241% from the base of the model. Moreover, Fibonacci extensions suggest further resistance zones at $0.65 (85.54% of the breakout) and eventually $1.

Interestingly, the volume confirms this bullish forecast. An increase in buyer activity accompanies the breakout, confirming the strong momentum. If this trend continues, the completion of the model could send Dogecoin into uncharted territory, reflecting its rapid growth in early 2021.

Dogecoin's Short-term Prospects

Meanwhile, DOGE's daily chart shows the short-term prospects of the meme coin as it strives towards the $1 level. Dogecoin is currently consolidating at almost $0.39 after its significant rally. Fibonacci retracement levels from the recent low of $0.13 to the local high of $0.44 show support and resistance zones.

The current price is testing the 0.786 Fibonacci retracement level at $0.38, acting as a key short-term resistance. A sustained break above this level could push the price to $0.44 (a recent high).

A push above $0.44 could put Dogecoin face to face with resistance in the upper Bollinger band ($0.4832). A breakout of this level could potentially lead to $0.63, which coincides with a 1.618 Fibonacci extension. The last DOGE resistance below $1 is at the 2.618 Fibonacci level near $0.9484.

However, if a pullback occurs, the correction levels of 0.618 ($0.29) and 0.5 ($0.25) provide strong buying opportunities. The daily Bollinger bands are also narrowing, indicating that a breakout may be imminent. This indicates the indecision of the market, which often precedes a significant price change.

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BTC Updates Price records thanks to large investors

Today, the bitcoin exchange rate has reached a new historical high, rising to $97,890. This was stated by the researchers of the company Santiment. They stressed that the record was made possible by the activity of large holders, including "sharks" and "whales", who are increasing their BTC reserves. Over the past month, owners of wallets with more than 10 bitcoins have accumulated 56,397 coins, which is equivalent to $5.42 billion.

Interestingly, the total number of such wallets has decreased. According to the data, there were 1,256 fewer of them, which is a loss of 0.82% compared to last month. However, the decrease in the number of addresses does not prevent these large investors from holding an increasing number of digital coins.

Experts believe that this may be due to asset consolidation. Perhaps some owners are consolidating their investments by transferring funds to single addresses in order to manage assets more efficiently. It may also indicate high confidence in the growth of Bitcoin's value.

The activity of large holders is considered an important indicator for assessing the current state of the market. The accumulation of BTC by large investors in the face of rising prices may mean a continuation of the bullish trend. However, it is worth following these dynamics to understand how long a bullish rally can last.

Against the background of growth, analysts are paying attention to other metrics. For example, it is important to consider how many coins are held off exchanges. An increase in the number of bitcoins in cold wallets often indicates that investors are ready to move assets in the long term. With the rise in the price of Bitcoin, there is a global interest in the cryptocurrency market. This record once again underlines the importance of large investors in shaping the dynamics.

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SEC Postpones Decision on Franklin Crypto Index ETF, Dubbed EZPZ

Franklin Templeton, one of the issuers of exchange-traded funds (ETFs) in the field of cryptocurrencies, has expressed interest in issuing an exchange-traded fund based on a crypto index, but the authorities are still postponing its release.

The Securities and Exchange Commission (SEC) has postponed the deadline for approval of the Franklin Templeton crypto index exchange-traded fund. According to a November 20 statement, the authorities expressed concern about the sufficient amount of time needed to decide whether the fund would be approved or rejected.

"The Commission may indicate that if it considers such a longer period appropriate and publishes its reasons for such a decision, or if a self—regulatory organization agrees to this, the Commission will either approve the proposed rule change, reject it, or initiate a case to determine whether the proposed rule change should be rejected," the Commission documents say. Securities and Exchange Commission.

On August 17, based on their application, Franklin proposed creating a crypto index ETF by investing in bitcoin (BTC) and Ethereum (ETH) under the ticker EZPZ. The proposed fund will combine the two most popular cryptocurrencies in the world within the framework of one index in an unspecified ratio weighted by market capitalization.

If approved by the authorities, EZPZ will use the Coinbase repository and trade on the Cboe BZX exchange. Franklin can add another cryptocurrency to the index, but for this he needs to get approval from the Securities and Exchange Commission.

Franklin Templeton is Switching to Cryptocurrency

Franklin Templeton, based in New York, is one of the most flexible asset managers, which allows investors to make more profit from the movement of cryptocurrency prices. After receiving permission in January to create a spot bitcoin ETF, Franklin created another product related to cryptocurrency.

On October 31, they tokenized money market funds in several blockchains, including Base, Arbitrum, Polygon, Avalanche, Aptos and Stellar. The assets of the U.S. Government Money Market Fund (FOBXX) in this blockchain amount to $ 410 million.

Franklin is also working with SBI Group in Japan to prepare for the possibility of adopting a cryptocurrency fund in that country, but the results of this work have not yet been published.

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New Bitcoin records have prompted hodlers to take profits

This week, Bitcoin (BTC) shows increased volatility, setting several price records per day, followed by short-term pullbacks.

Given that the 50-day moving average remains above the 200-day moving average, it is highly likely that the long-term uptrend will continue in the future.

The Glassnode chart (see below) showed that the change in the net position of the hodlers revealed a significant shift in the behavior of long-term holders. After several months of accumulation (indicated by the green line), there was a sharp transition to distribution (red stripes).

On November 20, the hodler chart reflected the most negative trend since June, as more than 37,000 BTC worth more than $3.4 billion were sold. Thus, at the moment when bitcoin reached historical highs, long-term investors decided to lock in profits.

This behavior is typical for prolonged rallies, when the temptation of large profits tempts even the most persistent bitcoin holders.

CryptoQuant's chart of bitcoin exchange net flows further highlighted the ongoing sell-off. The growth of stock inflows suggests that holders are transferring their BTC to exchanges, probably for liquidation.

If the inflow on the exchange continues to outpace the outflow, this could create sustained selling pressure, which will make it difficult for bitcoin to restore its historical maximum in the near future.

However, the current decrease in inflows may indicate that most of the sales have already occurred.

Now technical and on-chain indicators indicate that the trend remains bullish, which does not exclude short-term corrections and consolidation.

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Elixir and Securitize have launched the RWA program for DeFi

Elixir, together with the Securitize platform, has introduced a new deUSD RWA Institutional Program, which simplifies the access of institutional holders of tokenized assets to decentralized finance (DeFi). The initiative makes it possible to use the deUSD digital currency as the main means for interacting with DeFi applications, while maintaining the current security structure and risk profile.

Now owners of tokenized assets issued through Securitize, such as BUIDL from BlackRock and SCOPE from Hamilton Lane, can freely receive isolated returns in DeFi. This was made possible thanks to the liquidity provided by deUSD, which already provides more than $110 million in digital assets on the blockchain.

The main advantage of the program is that it makes tokenized real assets (RWA) secured and more flexible. Previously, they often remained locked in institutional accounts, which limited their access to decentralized ecosystems. Now RWA can be quickly exchanged for USDC through existing liquidity mechanisms.

The program has already attracted significant interest from major investors. According to Elixir, the amount of registered capital for participation in the program exceeds $ 1 billion. This highlights the growing demand for solutions that combine traditional finance with blockchain capabilities.

The basis for deUSD is income from lending and treasury assets through USDS, which allows us to guarantee stability. Thanks to the new mechanism, holders of tokenized assets can take advantage of DeFi without changing their risk profile. According to experts, the launch of the program can be an important step towards integrating institutional investors into DeFi.

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ETH stabilizes amid record inflows in ETFs

Ethereum started November with an impressive 40% growth, but it turned out to be difficult for the altcoin king to maintain this momentum

Price stabilization above $3,000 and significant interest from institutional investors may help to resume the bullish trend. One of the pillars of this growth is Ethereum ETFs, which attract record amounts of investment.

Ethereum receives support from institutions

Last week, Ethereum ETFs recorded the largest weekly inflows since launch. BlackRock led the trend with an impressive $286 million, while total inflows across all ETFs reached $550 million. This influx reflects the growing confidence of institutional investors, driven by the recovery in the price of Ethereum and recent record highs for bitcoin.

The increase in activity in the ETF segment strengthens Ethereum's position in the crypto market as a diversified asset. This trend potentially provides the necessary momentum to overcome the current price stagnation. The market mood seems to be leaning towards a bullish outlook.

The institutional demand for Ethereum extends beyond ETFs. According to the latest CoinShares report on net ETP flows, in November, the capital inflow of institutions to Ethereum amounted to $789 million. These large-scale investments reflect renewed interest in ETH as a long-term asset. They also highlight its growing role in the investment portfolios of major players. Such investments can play a key role in price growth.

ETH Forecast: a look into the future

Ethereum is now confidently holding above the critical mark of $3,001. This Fibonacci level is 61.8%, which is the basis of the bull market and creates the basis for potential growth.

With continued institutional activity and a positive mood in the market, altcoin can overcome the resistance at $3,248 and continue to grow. This will strengthen his position and consolidate the bullish trend.

A decrease in the price may cast doubt on the bullish outlook and weaken investor confidence. Ethereum's ability to maintain momentum depends on maintaining key support levels and leveraging institutional support.

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QCP Capital announced the start date of the alctoin season

Experts at QCP Capital said that as soon as the bitcoin dominance index drops to 58%, the "real altcoin season" will begin on the market.

QCP Capital believes that some investors are not yet ready to abandon plans to invest in the first cryptocurrency.

"Historically, altcoins show growth whenever major cryptocurrencies consolidate after a significant rally — profits move into coins with a lower capitalization. But as soon as bitcoin's dominance drops below 58%, the altcoin season will begin," experts say.

In their opinion, before consolidation, bitcoin may have time to overcome the psychological milestone of $ 100,000, which is important for investors, and this will happen before the end of the year.

"We expect a pro—currency policy from the Donald Trump administration and a further reduction in interest rates by the US Federal Reserve, and we would not be surprised if the altcoin season is in full swing in the coming months," analysts said.

Now, despite the outflow of capital from spot ETFs to bitcoin and ether that occurred at the end of last week, the first cryptocurrency is showing positive dynamics, QCP Capital recalled.

Earlier, representatives of Glassnode and Fasanara Digital presented a report on the results of a joint study, assessing the dynamics and prospects of the crypto market in October — December. According to experts, the market is on the verge of moving from the "bullish enthusiasm" stage to the "bullish euphoria" phase.

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Michael Saylor of MicroStrategy does not recommend Ripple

In a recent interview, Michael Saylor, co-founder and executive chairman of MicroStrategy, reiterated his position on bitcoin, stating: "I'm 100% for Bitcoin." Saylor's commitment to bitcoin is well known, but his recent comments once again confirm his unwavering position regarding this token.

In an interview, Saylor expressed his desire for the digital asset industry to grow exponentially, increasing from the current estimate of $1 trillion to a whopping $500 trillion.

Michael Saylor will Never Recommend Ripple

During the discussion, the interviewer asked if there might ever come a time when Saylor would be able to support or recommend Ripple, a well-known digital asset that is often associated with cross-border payment solutions. Saylor immediately rejected the idea, stating: "I would not recommend securities because securities have a counterparty." He stressed that his investment philosophy is based on the belief that bitcoin is the only digital asset he fully trusts.

Diversification undermines the basic principles

Saylor further explained that his reluctance to support other cryptocurrencies or securities is due to his desire to adhere to a focused investment strategy. "You have to stay in your territory," he said, suggesting that diversifying into other digital assets could weaken his core principles.

Despite the growing number of digital assets and various blockchain projects, Saylor remains firmly convinced that bitcoin is the future of finance. His opinion coincides with the opinion of many representatives of the crypto community, who see bitcoin as a protection against inflation and a means of saving.

As the digital asset market continues to evolve, Saylor's ideas will undoubtedly influence investors who are looking for recommendations in this complex and rapidly changing environment.

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STX Coin is preparing for significant growth

Despite a sluggish October for cryptocurrency lovers, November promises to break records. Bitcoin has soared to unprecedented heights, pushing many altcoins to approach or reach record highs. Historical data suggests that past highs will often be surpassed, hinting at a bullish trend in the coming months.

What does the graph show about STX Coin?

A recent analysis conducted by Michael Poppe shows that STX Coin is most likely on the verge of a breakthrough. Since bitcoin is trading at $92,500, the expert believes that STX Coin is preparing for a significant price increase after a long period of consolidation lasting more than 200 days, especially after the successful Nakamoto update.

Can Altcoins experience a sharp increase soon?

Miles Deutscher analyzed the potential effectiveness of altcoins by examining the TOTAL3 chart, which does not take into account larger cryptocurrencies. He predicts a possible tripling of the altcoin market, while some altcoins may rise in price up to 30 times if they follow past market trends.

-- STX Coin is consolidating and may break previous price records.
-- The stability of bitcoin at a level above $92,500 may mean further growth of altcoins.
-- The altcoin market may witness a sharp increase if historical patterns persist.

The current market dynamics indicate the potential for significant growth, especially for STX Coin and other altcoins, as they seem to be preparing for favorable conditions in the future.

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Rumble shares rose 9% after the founder thought about buying Bitcoin

Rumble, a YouTube alternative popular with the far-right and conspiracy theorists, has become the latest company to consider adding bitcoin to its balance sheet.

Shares of Rumble Inc (RUM) rose 9%, reaching a high of $6.20 in over-the-counter trading on November 19 after the company's founder and CEO Chris Pavlovsky previously asked a question about X, which received widespread support from the crypto community.

"Should Rumble add Bitcoin to its balance?" asked Pawlowski in the X survey, to which about 29,000 people answered "Yes."

“yeah. I will be happy to help if necessary," said Jack Mullers, CEO and founder of Strike, a bitcoin payments company.

Michael Saylor, chairman of Bitcoin buying MicroStrategy, offered to discuss with Pawlowski how this could be done, and Pawlowski seemed to agree.

Rumble shares closed up 2.5% during the day at $5.68, and then peaked after hours at $6.20, which has now dropped to $5.78, marking a 1.76% increase since the market closed, according to Google Finance.

Rumble, based in Florida and Ontario, operates a video sharing platform of the same name, known for its soft content moderation policy. Its cloud services division also operates the social media platform Truth Social, owned by Donald Trump.

Rumble has approximately 67 million monthly active users, and in September 2022 it began public trading on the Nasdaq exchange.

As of September 30, 2024, Rumble's balance sheet in the form of cash, cash equivalents and liquid securities was approximately $132 million.

In the third quarter, the platform also generated about $25 million in revenue, which is 39% more than last year.

The company's shares fell in value after the results for the third quarter were published last week, according to which the company's revenue fell short of analysts' expectations by 14%, and earnings per share (EPS) fell below expectations by 20%.

If Rumble adds bitcoin to its balance sheet, it will join the growing list of companies that have made the move this year.

On November 18, the Genius Group, an artificial intelligence company, took the first steps as part of its "bitcoin first" strategy, buying 110 bitcoins for $ 10 million. Ultimately, the company wants to store 90% of its reserves in bitcoins.

Meanwhile, the Japanese company Metaplanet has just bought $11.3 million worth of bitcoins. According to Bitcoin Treasuries, as of November 19, the company owns 1,142.2 bitcoins.

Semler Scientific, a medical equipment manufacturer, also recently acquired $17.7 million worth of bitcoins, increasing its assets to 1,273.

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That's how high Dogecoin can grow if BTC reaches $250k, ETH - $15k, and XRP — $5

Over the past two weeks, the cryptocurrency market has been showing visible signs of huge potential. The conclusion of the US presidential election on November 5 has again caused optimism among market participants, as Bitcoin (BTC) declares a new ATH above $93 thousand, and altcoins show rapid jumps.

The Cryptocurrency market is in a Bullish Phase

Against the background of the prevailing bullish mood, numerous market speculators adjusted their price targets for most of the market. Well-known market analyst Ash Crypto is one such person.

In a recent disclosure, he presented new targets for Bitcoin and 15 other crypto assets, including Ethereum, XRP and Dogecoin (DOGE), for the next six to twelve months. The latest prediction appeared against the background of a consolidation phase, during which BTC fell by 3.52% on November 14, and DOGE collapsed by as much as 9.14%.

The analyst suggested that Bitcoin, which is currently trading at $91,165, could rise sharply to a price range of $150,000 to $250,000 from now until the fourth quarter of 2025. This will mean an increase from 65% to 174% for BTC.

In addition, his price target for Ethereum, the king of altcoins, is in the range of $10,000 to $15,000. At the current ETH price of $3,150, it will need to grow by 217% to 376% to reach this range. Ash also predicts that XRP could rise by 228% to 447% to reach a price of $3 to $5.

Dogecoin Price Forecast

Meanwhile, in a market scenario with such indicators, the analyst believes that Dogecoin can perform excellently. Dogecoin is currently trading at $0.377, up 137% since November 3. Ash Crypto expects DOGE to rise another 165% to $1 as the minimum maximum price for the ongoing bullish rally.

However, he also expects the meme coin to grow even more from $1 to a price of $3 if market conditions are favorable. In order for Dogecoin to qualify for the $3 level, it will need to grow by a huge 695%, which may make it one of the market leaders.

The noticeable growth of Dogecoin over the past two weeks suggests that such growth may be feasible for a meme coin. In addition, after the 2020 presidential election, which preceded the bull run at that time, DOGE rose from $0.00257 in November 2020 to its ATH of $0.7399 in May 2021, which means an increase of 28,456% in seven months.

If the meme coin repeats at least a tenth of the 2020/2021 rally, its price may exceed the target price of $3. However, Dogecoin will find it difficult to grow by that amount in this bull run due to its market size. For reference, a price of $3 would put DOGE at a market capitalization of $440 billion.

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