Another cycle, XRP drained 200 billion, causing a market crash. XRP is what I fear the most; I vaguely remember the market crashes in 2017 and 2021 were accompanied by XRP's explosive rise. Fortunately, we are currently in the mid-stage of a bull market, and we have enough market confidence and recovery time. Once the 250 billion XRP farce ends, everything will return to normal, and the bull market will restart.
Regarding why XRP, an established mainstream coin, could achieve such significant growth in a short period, the project's strategy and timing played a crucial role. We have always believed that the success of a coin primarily depends on two aspects: one is technological strength and the construction of the ecosystem, and the other is the effectiveness of marketing and promotion. However, this leap for XRP also shows us another possibility: collaboration with strong supporters can stimulate market imagination and achieve substantial increases. During Harris's campaign, he invested $30 million in campaign funds, bringing XRP back into the public eye. Although the campaign was unsuccessful, he quickly negotiated with Trump regarding cryptocurrency-related matters, demonstrating adaptability and ultimately driving up XRP's price.
BTC once fell below $95,000.
But coincidentally, shortly after the U.S. government transferred a large amount of BTC, Bitcoin plummeted to a low of around $94,388 at about 01:45 this morning. There was a slight rebound before the press time, currently reported at $95,659, down 2.32% in the last 24 hours.
In the past 24 hours, the total liquidation across the network reached $540 million.
In the context of Bitcoin's downward fluctuations, according to Coinglass data, the total liquidation amount across the cryptocurrency network reached $547 million in the past 24 hours, with long positions liquidating $360 million and short positions liquidating $179 million, affecting over 190,000 people.
Recently, two large transfers have attracted market attention: 131 million DOGE (approximately $102 million) was transferred from an unknown wallet to Coinbase, while another 117 million DOGE was transferred from Binance to an undisclosed wallet. These transactions indicate that whales are preparing for potential market fluctuations and suggest an increasing interest in DOGE among market participants.
These large transactions are often signals of dynamic market changes, especially when the price of Dogecoin has crossed $0.40. Many market participants are paying attention to these transfers, thinking they may indicate a price breakout or pullback. Recently, DOGE's trading volume surged by 77%, further confirming the increasing demand for this cryptocurrency, potentially paving the way for the next upward movement.
During the previous bull market cycle, Dogecoin surged rapidly from the market bottom. In 2017, DOGE rose from $0.00009 to $0.8750, and in 2021, the price increased from $0.00168 to an all-time high of $0.73995. Marks expects DOGE to rise from the current bottom of $0.06004 to $2.28, indicating a potential increase of 457%.
In any case, this bull market is progressing step by step in levels and stages, from Bitcoin to the second place ETH, from the second place to mainstream and then to established sub-mainstream. NULS, which allowed everyone to position around 0.38, perfectly reached the VIP first target! There were also synchronized recommendations during the discussions, and those who kept up have reaped substantial rewards! This month's recommended gains include two double-up coins: CETUS and WIF, which were also recommended simultaneously! Many friends must have kept up!