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Dogecoin has surged 18% in the past 24 hours, trading at $0.3888 after hitting an intraday high of $0.395, marking five consecutive days of gains since December 31. The rally has pushed Dogecoin above its 50-day simple moving average, indicating bullish momentum, with potential targets of $0.42 and $0.48 if the upward trend continues. However, resistance at $0.42 may lead to a pullback to $0.34 if sellers intervene.
Justin Sun, founder of Tron, has denied allegations of selling his Ethereum holdings, clarifying that recent wallet transfers were merely inter-wallet movements. This comes amid concerns over Ethereum's price volatility, which recently dipped to $3,127 before rebounding to $3,391.20. Analysts remain optimistic, predicting a potential rally for Ethereum if it can breach the $3,540 resistance level.
Dogecoin (DOGE) surged 12% as the cryptocurrency market rebounded after a sharp sell-off, which saw $1.42 billion in liquidations. Cardano (ADA) also experienced a significant recovery, rising 15% to briefly hit the $1 mark, following a lower-than-expected inflation gauge from the Fed. The Fed's recent interest rate cut to a target range of 4.25%-4.5% has influenced market sentiment, despite a projected reduction in rate cuts for 2025.
Fifteen years ago, 15 Bitcoin were sold for just 1 cent, a stark contrast to today's price of $98,201. Bitcoin, launched in 2009, has evolved from a niche concept to a global financial asset with a market capitalization of $1.944 trillion. Recent data shows significant inflows into digital asset investment products, with Bitcoin alone attracting $2.5 billion last week.
Tomiwabold Olajide
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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