There are important announcements for DOGE and cryptocurrency today. Obviously, a parabolic rally is on the agenda. Let’s look at the details.
Description of Dogecoin DOGE from Poppe
Analyst Michael van de Poppe shared a Dogecoin chart. Accordingly, he stated that he expects the original meme coin DOGE to continue expanding towards the $0.10 level. He noted that at this time, DOGE remains within the “buy bottom” zones of the chart.
Well, $DOGE probably continues it's expansion towards $0.10 here.
Still buy the dip areas. pic.twitter.com/ODqGyYdlae
— Michaël van de Poppe (@CryptoMichNL) July 27, 2023
Over the past week, DOGE has risen about 15%. Dogecoin is the largest meme cryptocurrency by market cap. It is the first cryptocurrency launched as a Bitcoin joke in 2013. According to CoinMarketCap’s website, its market cap is currently $11,131,157,169. It is followed by SHIB with a market cap of $4,632,194,305.
Analyst: Altcoin Cardano will reach this level
Cryptocurrency analyst Dan Gambardello included Cardano (ADA) in his latest analysis. He predicted that the ADA price could rise to $7.80 in the next bull cycle. The video also compared ADA to Ethereum (ETH).
According to Gambardello, the Bitcoin (BTC) halving event is imminent. ADA’s Total Locked Value (TVL) stands at approximately $179 million. The analyst revealed that TVL for ETH was worth about $400 million until the previous halving. It then skyrocketed to $105 billion in November 2021. A rally is in question if Gambardello’s bullish thesis is confirmed. He estimates ADA’s market cap could cautiously rise to $275 billion. As a result, the altcoin could reach $7.80 per ADA token.
LINK on the eve of significant increase
According to a Twitter post shared yesterday by Michael van de Poppe, there is an interesting situation. A promising retest is underway for Chainlink, showing significant strength and potential. The question on everyone’s mind was whether this final retest would yield different results.
Very decent retest taking place on $LINK.
Is this time different?
We're still in the pre-FOMC fear period, which most likely will end up with upwards momentum after FOMC is over. pic.twitter.com/vujN7ZzEal
— Michaël van de Poppe (@CryptoMichNL) July 26, 2023
It should be noted that LINK is trading much closer to its daily high of $8.03 rather than the 24-hour low of $7.48. LINK’s 24-hour victory also made it stronger by around 5.37% and 5.12%, respectively, against both market leaders Bitcoin (BTC) and Ethereum (ETH).
Altcoin SHIB exhibits an interesting pattern
Popular meme coin Shiba Inu (SHIB) is currently displaying an interesting pattern on its price chart. Accordingly, it attracts the attention of both market analysts and individual investors. The cryptocurrency is forming an ascending triangle, a strong technical pattern that often precedes volatility spikes.
The ascending triangle is defined by a flat upper resistance line and an upward sloping lower trendline. As the price of SHIB approaches the apex of the triangle, traders eagerly await a potential breakout that could significantly change the token price. Interestingly, SHIB recently managed to surpass its 50-day moving average. This is a positive sign, often seen as a bullish indicator by traders. However, the real challenge lies in maintaining this momentum and getting above the upper resistance line of the triangle. If SHIB can achieve this, it could lead to a significant uptrend.
Expected performance of Worldcoin
The digital currency Worldcoin (WLD), backed by OpenAI CEO Sam Altman, has seen a significant drop in price recently. A hot topic in the crypto space, the cryptocurrency took a dip, defiant the initial positive sentiment surrounding its launch. Worldcoin’s price fell from a local high of $3.3 to a current trading value of $2.2. This is an almost 30% drop in value, in stark contrast to the optimistic forecasts that circulated after Worldcoin’s announcement.
Worldcoin’s goal of creating a decentralized proof-of-personality system where every individual in the world has a unique digital identity initially caught the attention of the crypto community. The project benefits from the efficiency and security of blockchain technology. Accordingly, he aimed to use this system to distribute a universal basic income.
The good news that the altcoin season has begun
As Bitcoin (BTC) dominance begins to shake, there are signs that a new alt season may be on the horizon, as Glassnode co-founder Yann Allemann reiterates. Other altcoins such as XRP and SOL are also seeing notable increases. Accordingly, each increased by more than 2%. This bullish trend of altcoins has pushed Altcoin Signal into alt season territory for a short time. Amid this move, Dogecoin (DOGE), an altcoin known for its strong narrative, is leading market gains following Elon Musk’s move to rebrand Twitter as X.
When we look at Kriptokoin.com, the performance of XRP stands out especially in the current altcoin rise. According to CoinGecko data, XRP is trading at $0.72, up 2.4%. The latest rally, Ripple. It came after a positive decision in the SEC case. The controversial token continues to attract significant investor interest, recording over $1.4 billion in 24-hour trading volume.
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