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Popular Crypto Analyst, Optimistic About 2 Altcoins to Outshine

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Is Dogecoin Still in Race? 3 Reasons Why Doge Price Can Surge High!

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Dogecoin, a meme-based cryptocurrency, dropped on Tuesday after reaching an all-time high in a crazy session that saw fans of the token, which was once ignored as a joke, use hashtags to fuel a rally before it fizzled out.

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People are starting to wonder, “Will DOGE price rise again?” as they consider their next move. There’s no justification to expect a definitive response from an asset that is based on celebrity tweets.

Top Catalyst That Can Drive Dogecoin Prices Again

Widespread Adoption

Newegg, an online electronics retailer, revealed late Monday that consumers would be able to pay for items using Dogecoin. Also, Slim Jim and Snickers have recently shared their own Doge and Dogecoin memes on Twitter. Dogecoin traders, on the other hand, are more concerned about sending the cryptocurrency “to the moon.

And ultimately if more people use Dogecoin, the currency has a better chance of surviving rather than disappearing.

Positive Momentum

The Meme token has proven to be incredibly durable over time. Since 2014, declines of 15% or more have been accompanied by an average return of 11.3% over the following month. In other words, anyone who bought the dip in the past would have profited. 

The plan, on the other hand, isn’t for the faint of heart. Dogecoin lost another 43% of its value after losing 17% in a single day in September 2017.

Despite this, momentum is still one of the best indicators of cryptocurrency success. In comparison, Dogecoin’s 25% loss on Tuesday seems to be a short-term trading opportunity rather than a total turn of events.

Doge Fans and their support

The adoption of bitcoin and other cryptocurrencies by businesses and mainstream investors has boosted Dogecoin’s popularity this year.

The altcoin has tapped into that force. Memes continue to go viral on Twitter, garnering thousands of “likes” and persuading newcomers to give it a try. If Dogecoin’s popularity continues to rise, the $38 billion gain since January may be just the beginning.

Fans also tried to boost its price by celebrating DogeDay on 4/20. It shows that people are still Doge friendly and are still trying to get Doge to the moon.

Setbacks

Coming to the drawbacks of dogecoin until now only four contributors have made any changes to Dogecoin in 2021. A significant reason is that DogeCoin developers lack money. Cryptocurrency developers work for free, unlike Cardano and other currencies.

Also as Dogecoin has risen, however, its upside has decreased. Increasing another 65x would make the coin worth $2.6 trillion. No current investor will repeat the winnings of early DOGE investors.Having said that there are alternative meme coins in the market that have quickly gained traction. SafeMoon, a coin launched less than a month ago, dethroned Doge coin.

Dogecoin fans have long focused on memes over development. But those looking for their first taste of cryptocurrency could do well to buy a couple of hundred dollars. Dogecoin might yet reach $1.

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Source: https://coinpedia.org/altcoin/dogecoin-doge-price-can-surge-high/

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After a Major Dip, XRP Price Seems to Be Crawling Its Way Back Up

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Since soaring to a year-to-date peak of $1.9680 a few days ago, the XRP price has struggled. XRP has fallen for six days in a row and is currently trading at $1.31. Its market capitalization has also plummeted to over $60 billion.

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Even as Ripple Labs and two of its executives face a big lawsuit brought by the SEC, XRP has had an exciting start to the year. In April, the currency increased by more than 140%, and it has increased by more than 630% since December, when it was at its lowest point.

The fourth-largest cryptocurrency has risen as a result of some traders’ defiance of the platform’s risks. Profit-taking by day traders and Ripple Labs’ problems are likely to be the main causes of the current decline.

The recent rally was fueled by the crypto universe’s overall strong results. In the last few months, all of CoinMarketCap’s top currencies have risen in value. Even, after a steep drop in December, XRP has recovered as investors hurry to buy the falls.

Recovery Mode for XRP Price:

The price of Ripple has been on a clear downward trend recently, as shown by the daily map. It has been falling for the past six days. The price has also fallen below the Fibonacci retracement level of 38.2%. The 25-day and 15-day moving averages are also supporting the price.

XRP Price

On a 4-hour chart, XRP has defended the 100 simple moving average (SMA) support level and now needs to rise above the 50 SMA resistance level at $1.56, which corresponds to the 50% Fibonacci level.

If the price of XRP breaks out at this stage, it will rocket to $1.66 and $1.77. However, if the XRP remains below the key resistance level of $1.23, it might easily fall to as low as $1.16. 

However, a positive sign is that XRP is seeing considerable buying pressure, as the number of large investors with 100,000 to 1 million coins has risen by 150 so far this month.

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Source: https://coinpedia.org/price-analysis/xrp-price-seems-to-be-crawling-up/

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Reason Behind SafeMoon’s Massive Rally! Is Safemoon the New Dogecoin?

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SafeMoon (SAFEMOON), a DeFi coin, has risen over 130% in the last 24 hours and over 2900% in the last three weeks, attracting the attention of a number of crypto investors

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Following the popularity of Dogecoin, Bitcoin, and Ripple XRP in recent weeks, it is the latest cryptocurrency to see a surge in interest since the turn of the year.

Safemoon is a decentralized finance (DeFi) token rather than a cryptocurrency in the same way as Bitcoin is. The newly introduced protocol aims to reward those who keep their tokens for a longer period of time while penalizing those who sell them quickly.

SafeMoon shows up as the most searched cryptocurrency

The slogan on its website is “Safely to the Moon,” a play on the term coined by WallStreetBets on Reddit to inflate the price of Dogecoin.

SafeMoon charges sellers a fee of 10% of the sum they want to sell, thus rewarding those who continue to keep the cryptocurrency with a 5% fee reduction. DeFi is also planning to launch an NFT exchange, for which it claims to have raised $ 700,000 in donations.

And, despite its lofty goals, its current market valuation is far below the $1 dollar mark – despite a steady rise in price since its inception. 

Owing to the unregulated existence of cryptocurrencies, its creators have been conducting ‘Ask Me Something’ sessions to convince potential investors of its legitimacy.Safemoon is also aiming to list on more crypto exchanges such as Coinbase Global Inc (NASDAQ:COIN) to increase its accessibility to investors.

A pseudonymous crypto trader called “Venizo Crypto” brought attention to a large trading group that recently spiked the price of DOGE by over 200%, which has now turned its attention to SafeMoon.

Safemoon, on the other hand, might follow Dogecoin’s trajectory if it can prove its validity and if its social media-focused promotion strategy pays off.

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Source: https://coinpedia.org/altcoin/safemoon-massive-rally/

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Reason Behind SafeMoon’s Massive Rally! Is Safemoon the New Dogecoin?

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SafeMoon (SAFEMOON), a DeFi coin, has risen over 130% in the last 24 hours and over 2900% in the last three weeks, attracting the attention of a number of crypto investors

Advertisement header-banner-ad

Following the popularity of Dogecoin, Bitcoin, and Ripple XRP in recent weeks, it is the latest cryptocurrency to see a surge in interest since the turn of the year.

Safemoon is a decentralized finance (DeFi) token rather than a cryptocurrency in the same way as Bitcoin is. The newly introduced protocol aims to reward those who keep their tokens for a longer period of time while penalizing those who sell them quickly.

SafeMoon shows up as the most searched cryptocurrency

The slogan on its website is “Safely to the Moon,” a play on the term coined by WallStreetBets on Reddit to inflate the price of Dogecoin.

SafeMoon charges sellers a fee of 10% of the sum they want to sell, thus rewarding those who continue to keep the cryptocurrency with a 5% fee reduction. DeFi is also planning to launch an NFT exchange, for which it claims to have raised $ 700,000 in donations.

And, despite its lofty goals, its current market valuation is far below the $1 dollar mark – despite a steady rise in price since its inception. 

Owing to the unregulated existence of cryptocurrencies, its creators have been conducting ‘Ask Me Something’ sessions to convince potential investors of its legitimacy.Safemoon is also aiming to list on more crypto exchanges such as Coinbase Global Inc (NASDAQ:COIN) to increase its accessibility to investors.

A pseudonymous crypto trader called “Venizo Crypto” brought attention to a large trading group that recently spiked the price of DOGE by over 200%, which has now turned its attention to SafeMoon.

Safemoon, on the other hand, might follow Dogecoin’s trajectory if it can prove its validity and if its social media-focused promotion strategy pays off.

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
Source: https://coinpedia.org/altcoin/safemoon-massive-rally/

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