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🚀 Why Are Traders Heading Back to Dogecoin? Is This a Fleeting Drift? Dogecoin is again receiving attention, as the volume has soared by over 35% since the early trading hours. This has caused a marginal rise in the price, which has surged by nearly 5% above $0.16. Besides, the market sentiments have also flipped to bullish ever since the launch of the spot Ethereum ETF. Therefore, now the question arises of why traders have jumped in favour of the DOGE price rally. 🔸Does the price initiate a breakout above the critical resistance or just trap the bulls at the local highs? Ever since the beginning of the 2021 bear market, which kicked off following the SNL event where he termed DOGE as a ‘Hustle’, the traders have lost their interest in the token. Although the price received some bullish push, it remained a short-term rally. However, the trend appears to have changed in recent times as the volume has been surging since the beginning of March, which has raised the volatility of the token.  🔸 Will the bulls hold the DOGE price above the gains? Will it hit $0.2 before the end of the month? After the recent pullback from the yearly highs above $0.22, the DOGE price has been maintaining an ascending trend and could reach the edge of the consolidation soon. This has triggered a rebound from the average levels of the Gaussian channel, which is still under bearish influence. Besides, the RSI is maintaining a decent upswing, which may compel the prices to reach the upper resistance of the channel.  The technicals and the chart patterns do not indicate the recent breakout will be short-lived, but the price is expected to hit new yearly highs above $0.25. However, the traders usually remain impatient and squeeze profits following minor jumps. Hence, if the bulls receive the required pressure in the form of volume, then the Dogecoin (DOGE) price may keep up the bullish trend, withstanding all the bearish pressure. Therefore, a rise above $0.3 appears to be imminent in the first few weeks of H2, which may ensure a bullish close for the year 2024. $DOGE #DOGE

🚀 Why Are Traders Heading Back to Dogecoin? Is This a Fleeting Drift?

Dogecoin is again receiving attention, as the volume has soared by over 35% since the early trading hours. This has caused a marginal rise in the price, which has surged by nearly 5% above $0.16. Besides, the market sentiments have also flipped to bullish ever since the launch of the spot Ethereum ETF. Therefore, now the question arises of why traders have jumped in favour of the DOGE price rally.

🔸Does the price initiate a breakout above the critical resistance or just trap the bulls at the local highs?

Ever since the beginning of the 2021 bear market, which kicked off following the SNL event where he termed DOGE as a ‘Hustle’, the traders have lost their interest in the token. Although the price received some bullish push, it remained a short-term rally. However, the trend appears to have changed in recent times as the volume has been surging since the beginning of March, which has raised the volatility of the token. 

🔸 Will the bulls hold the DOGE price above the gains? Will it hit $0.2 before the end of the month?

After the recent pullback from the yearly highs above $0.22, the DOGE price has been maintaining an ascending trend and could reach the edge of the consolidation soon. This has triggered a rebound from the average levels of the Gaussian channel, which is still under bearish influence. Besides, the RSI is maintaining a decent upswing, which may compel the prices to reach the upper resistance of the channel. 

The technicals and the chart patterns do not indicate the recent breakout will be short-lived, but the price is expected to hit new yearly highs above $0.25. However, the traders usually remain impatient and squeeze profits following minor jumps. Hence, if the bulls receive the required pressure in the form of volume, then the Dogecoin (DOGE) price may keep up the bullish trend, withstanding all the bearish pressure.

Therefore, a rise above $0.3 appears to be imminent in the first few weeks of H2, which may ensure a bullish close for the year 2024.

$DOGE #DOGE

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📈 BONK Price Rallies 15%, Why Further Rally Is Imminent BONK price rises 10.06% in 24 hours, with trading volume up 90.90%. Technical indicators show strong buying interest and bullish momentum. Bonk (BONK) has surged in the past 24 hours, rising by 10.06% and currently trading at $0.00003869. The trading volume increased by 90.90% to $755.74 million, indicating continued bullish sentiment. BONK price recorded trading lows and highs of $0.00003381 and $0.00003927, respectively. Over the past week, BONK’s price has increased by 53.65%. 🔸 BONK Price Gains Momentum from Coinbase Listing A significant factor driving BONK‘s recent price surge is a promotional giveaway announced by the project. Over the next two weeks, the Solana-based memecoin will distribute $10,000 worth of its tokens, split equally among ten users. Participants must share their ‘cards’ on social media to qualify, boosting user engagement. This marketing strategy has significantly increased BONK’s trading activity and visibility. The promotional giveaway has created a buzz on social media, leading to heightened interest in BONK. As more users participate, the trading volume has surged, contributing to the token’s upward price movement. The giveaway’s success highlights the effectiveness of strategic marketing in the cryptocurrency market. Another key development is Coinbase’s announcement that it will list perpetual future contracts for Shiba Inu, BONK, and Floki Inu. These contracts will be available on the Coinbase International Exchange and Coinbase Advanced platforms. The memecoin is set to begin trading on Coinbase on May 30th, signaling strong demand from investors and traders. The upcoming Coinbase listing is a significant milestone for the memecoin, enhancing its credibility and accessibility. This development has fueled bullish sentiment among investors, anticipating increased trading activity and further price appreciation. The listing aligns with BONK’s recent market momentum, reinforcing its positive outlook. $BONK #BONK
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🚀 FLOKI, WIF, BONK top gainers as meme coins take over markets The top gainer for today, rising 21%, is Floki (FLOKI), which currently sits at $0.0002813. The price surge for FLOKI followed the breakout of a horizontal level at the $0.00023 mark. Also, after breaking out from the $0.00023 level, FLOKI broke through a key resistance level at $0.00025. Now, FLOKI is heading toward its all-time high of $0.0003, according to CoinMarketCap. The price rise is due to Floki developers launching a Telegram-based trading bot for FLOKI holders on the BNB Chain network. The bot is anticipated to boost demand for FLOKI tokens and contribute to buying pressure. The bot will be charged a 1% transaction fee, half of which will be used to buy FLOKI on the open market. Upon writing this piece, dogwifhat (WIF) rose 23.25% and broke through its resistance level of $3.25. It is currently sitting at $3.33, pushing the market capitalization to approximately $3.35 billion, making it the 35th largest crypto by market cap, according to the data from CoinMarketCap. The token’s price increase has no external factor. It was just “due” to increase based on the market’s overall sentiment towards the token over the past three months. Today, BONK’s market activity included a price increase to $0.000039, reflecting a 13.11% change over the past 24 hours, reaching a new all-time high. The market capitalization rose 13.19%, reaching around $2.62 billion and positioning BONK as the 47th largest crypto by market cap. According to data from CoinMarketCap, the trading volume for BONK increased by 95.37% in the same period, totaling about $777 million. The BONK price, trading at $0.00003908, broke above the key resistance of $0.00003771. This is the closing price of the prior 2024 high when BONK reached $0.00004800 during the intra-day trading hours. Secondly, the above-mentioned factor might reduce the market’s bullishness, which could result in a consolidation. BONK could witness sideways movement between $0.00003939 and $0.00002833. $FLOKI $WIF $BONK #Memecoin #floki #wif #bonk
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⭐️ Ethena USDe Custodian Certificate Shows Skyrocketing Asset Value! Ethena’s May custodian certificate reveals $2.677 billion in assets, bolstering investor confidence.Copper, Ceffu, and Cobo verified holdings contribute significantly to the custodial assets.With $15.4 million for redemptions and $42.3 million in reserves, Ethena ensures liquidity and stability. Ethena USDe has released its highly anticipated USDe asset custodian certificate for May. The certificate, unveiled as of 18:00 (UTC+8) on May 24, showcases a remarkable $2.677 billion in custodial assets, further solidifying Ethena’s position in the digital asset market. Among the key highlights of the custodian certificate is the revelation that the supply of USDe stands at 2.673 billion. This substantial supply underscores the growing demand for stablecoin assets and reflects investor confidence in Ethena’s ecosystem. Copper verified holdings amount to an impressive $1.318 billion, followed closely by Ceffu verified holdings at $1.338 billion. Additionally, Cobo verified holdings contribute $5.52 million to the overall custodial assets. The verification of these holdings reaffirms Ethena’s commitment to transparency and accountability in managing digital assets. 🔸 Ethena’s Financial Infrastructure Highlights One notable aspect of the custodian certificate is the disclosure of unrealized gains and losses by all custodians. This transparency provides investors with valuable insights into the performance and stability of Ethena’s custodial assets, fostering trust and confidence in the platform. Ethena’s minting/redemption contracts boast $15.4 million available to meet redemption needs, ensuring liquidity and flexibility for USDe holders. Additionally, the reserve fund stands at an impressive $42.3 million, further strengthening Ethena’s financial position and resilience. The release of the USDe asset custodian certificate for May underscores Ethena’s commitment to transparency, reliability, and investor protection. $ENA #ENA #Ethena
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💥 Donald Trump-Inspired Meme Coins Skyrocket Over 500,000% Following Pro-Crypto Moves Former US President Donald Trump recently made headlines due to his bold political moves, particularly his continuous support for the crypto industry. This support sparked a surge in meme coins inspired by him, leading to fantastic gains in the market. 🔸 Meme Coins Inspired by Trump See Massive Gains MAGA (MAGA), a meme coin inspired by Trump’s campaign slogan “Make America Great Again,” increased by approximately 162% in the last 24 hours. DEX Screener data reveals it is now trading at $0.0006501. The on-chain tracker platform Lookonchain reported that a crypto trader made $2.7 million in just three days by trading MAGA. They achieved a return on investment (ROI) of 505%. The trader initially spent $537,500 to buy 6 billion MAGA on May 24 and 25, then sold 1.5 billion MAGA for 744,000 USDT to take profits. Currently, the trader holds 4.5 billion MAGA, valued at $2.51 million. Additionally, MAGA’s spinoff on the Solana network recorded an extraordinary increase of 534,000% over the same period. At the time of writing, it is trading at $0.1811 with a market capitalization of $8.5 million. A notable increase in these meme coins might be attributed to Trump’s latest political move. Trump made several pro-crypto statements before the upcoming election. He strongly supported the crypto industry, emphasizing that the US must strive to be a global leader in this growing sector. “I will ensure that the future of crypto and Bitcoin will be made in the USA. I will support the right to self-custody to the nation’s 50 million crypto holders,” he stated. Remarkably, the former US president also pledged to pardon Ross Ulbricht, the operator of Silk Road, if re-elected. Trump promised to commute Ulbricht’s sentence to time served on his first day in office. For the past months, Trump has been making crypto-focused political campaigns, such as hosting an exclusive dinner with the non-fungible token (NFT) community. #meme #memecoins #Trump
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