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Solana Price Holds Above $180 Despite Recent Volatility and SEC Legal Updates

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4 months ago

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Solana price has experienced significant fluctuations, showing a notable upward trend. The token has been consistently hovering above the $180 support level after breaking through this threshold earlier in the week. This movement represents a robust recovery from its previous position, which saw the token navigating lower support levels.

Solana has peaked at around $193 this week, surging by more than 3%, demonstrating strong market momentum and investor confidence. However, since then, it has experienced a slight pullback, reflecting the typical volatility seen in cryptocurrency markets

Solana Price Fluctuations and Recent Performance

The SEC recently updated its legal action against Binance, excluding Solana from its previous claims identifying certain cryptos as securities. This revision was filed on July 30 in a joint status report with the U.S. District Court for the District of Columbia. 

This adjustment aligns with a court’s earlier decision, which concluded that secondary market sales of Binance’s BNB tokens are not securities transactions. This change might alter the U.S.’s regulatory landscape and influence the forthcoming launch of exchange-traded funds based on Solana.

As of the reporting time, SOL price is trading at $180.73, with a slight decrease of 2.74% during the U.S. trading session. Over the past 24 hours, the layer 1 crypto has fluctuated between a low of $179.30 and a high of $187.30. The 24-hour trading volume for Solana has reached $2.9 billion, indicating significant activity in the market.

Solana Price Holds Above $180 Despite Recent Volatility and SEC Legal UpdatesSolana Price Holds Above $180 Despite Recent Volatility and SEC Legal Updates
Solana Price Chart| Source: TradingView

The technical indicators of Solana reveal a consolidation pattern on the 4-hour chart, as observed on the OKX exchange. The Moving Average Convergence Divergence (MACD) is in the bearish zone, with the MACD line at 0.26, below the signal line of 1.68.

However, the histogram has shrunk, suggesting a decrease in bearish momentum, which may hint at a possible reversal or stabilization in the short term. The Relative Strength Index (RSI) stands at 37, positioning Solana in neutral territory but leaning towards oversold conditions. 

SOL price prediction is facing a strong rejection at the $193 level; if bullish momentum mounts, pressure could drive the price toward $200 and potentially up to $250 in the next bullish run.

TVL Surge 

According to DefiLlama, Solana has reported substantial activity in its financial ecosystem. The platform’s total value locked (TVL) stands impressively at $5.4 billion. The market capitalization of its stablecoins is also robust, amounting to $3.2 billion.

In terms of transaction fees, Solana has generated $1.88 million in the last 24 hours alone, contributing to revenue of $940,009 during the same period.

The 24-hour trading volume on Solana price has surged to $1.589 billion, with inflows totaling $4.15 million, underscoring the network’s continued investor confidence and financial health.

Support holds at $170, which is crucial for maintaining the current price structure. However, if bears gain more control and selling pressure increases, the price might drop to $160, breaking below the support. If the bearish momentum continues, further decline could be seen, potentially lowering the price to $150. 

Frequently Asked Questions (FAQs)

The SEC’s exclusion of Solana from its securities claims has positively impacted investor confidence, potentially influencing Solana’s market performance.

Solana’s TVL, which is $5.4 billion, indicates substantial activity and investor confidence, which can positively influence its price and market stability.

The current support level for Solana is $170. Maintaining this support is crucial to avoid further declines.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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BONK price

Crypto Rebound or New Bull Run? Analyzing 4 Altcoins Performance

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15 hours ago

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November 13, 2024

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As the global cryptocurrency market cap eyes $3 trillion, the recent increase in Bitcoin price to an all-time high of $89,000 has sparked excitement of a new bull run, preparing the stage for altcoin’s renewed optimism. Among the leading performers are Peanut the Squirrel (PNUT), Rexas Finance (RXS), Bonk (BONK), and XRP—all witnessing substantial price fluctuations. Here’s a breakdown of these four altcoins, examining the factors behind their increase and what investors could anticipate in the upcoming weeks.

Top Performing Altcoins for the Bull Run

1. XRP: Positive News Driving Investor Confidence

XRP is experiencing a surge of positivity, driven by recent events concerning Ripple’s interactions with regulators and its ongoing legal battle with the SEC. Reports of Ripple’s discussions with the advisors of President-elect Trump have ignited speculation regarding more favorable regulations, potentially opening the door for greater institutional interest in XRP and various other digital currencies.

Additionally, speculation about the potential resignation of SEC Chair Gary Gensler has boosted XRP price, as this might signal the conclusion of the lengthy legal struggle with the SEC that has constrained prices.

XRP price chart

With XRP currently at $0.65, its 21.66% gain over the past week is promising. XRP’s future largely hinges on regulatory clarity, which could significantly impact its market potential. If the optimism around its legal situation continues and favorable regulatory changes occur, XRP could experience a substantial rally, making it one of the more stable altcoins in this bull run.

2. Rexas Finance (RXS): The New Frontier in Real-World Asset Tokenization

Rexas Finance (RXS) is a unique player in the altcoin market, making waves with its approach to real-world asset (RWA) tokenization. Currently in its 5th presale stage at a price of $0.07, Rexas Finance aims to democratize access to high-value investments. It achieves this by enabling fractional ownership of traditionally illiquid assets such as real estate and collectibles.

With growing interest from traditional investors seeking diversification, RXS is attracting attention for its innovative DeFi approach to asset tokenization.

Rexas Finance TokecomicsRexas Finance Tokecomics

Analysts are optimistic about RXS, forecasting a potential climb to $17 by 2025, as the the early-stage cryptocurrency prepares for listings on major exchanges. This would represent significant gains for early investors. The recent crypto bull run has helped boost RXS’s profile, with increasing investor enthusiasm driven by its unique utility and the broader demand for DeFi solutions.

As tokenized markets continue to gain traction, the RWA tokens could see notable long-term growth, though it remains in a highly competitive and evolving sector.

3. Peanut the Squirrel (PNUT): Reaches New All-Time High Amid Bull Run

PNUT, one of Solana meme coins,  recently gained attention due to its remarkable increases, achieving an all-time peak of $0.9745. Achieving a 1647% increase in the past 30 days and 1632% over the last 90 days, PNUT’s performance stands out as one of the most extraordinary narratives in the cryptocurrency market this year.

A significant portion of this increase is linked to community-led viral campaigns like #JusticeForPeanut, in addition to the overall market uptrend.

Reaches New All-Time High Amid Bull RunReaches New All-Time High Amid Bull Run

Should the bullish trend persist, PNUT may experience an ongoing surge. Nonetheless, meme coins have a history of volatility, and a pullback could occur, particularly if the existing excitement wanes.

  1. Bonk (BONK): Meme Coin Revival in the Midst of a Bull Market

BONK, one of popular meme coins to buy, is making a resurgence with a rise to $0.000034, reaching its peak in more than five months. Initially considered by some as just another temporary meme coin, BONK’s recent performance has astonished the market, achieving a 46.5% increase in just the past week.

BONK price in the Bull RunBONK price in the Bull Run

Technical signals, like the “golden cross” created by its 50-day and 200-WMA, indicate a positive trend that might persist, as long as it maintains its support levels.

The coin has flipped previous resistance levels into support, signaling potential for further gains if the broader market trend remains bullish. However, with its current price, BONK faces a long climb to reach a speculative target of $0.1.

Conclusion: A Market Poised for a Bull Run or a Temporary Rally?

The performances of PNUT, RXS, BONK, and XRP highlight the current volatility and potential in the altcoin market. Each of these assets has unique drivers—whether community-driven hype, innovative DeFi applications, or regulatory developments—adding to the diversity of investment options. The approaching $3 trillion market cap milestone for the global crypto market suggests growing investor interest, which could lead to sustained growth for select altcoins. As the market approaches this milestone, these altcoins could continue to ride the bullish wave, but the inherent risks of the crypto market remain, if Bitcoin’s momentum wanes.

 

Frequently Asked Questions (FAQs)

Bitcoin’s rise to $89,000 enhances market sentiment, benefiting altcoins like PNUT, RXS, BONK, and XRP, each showcasing unique growth factors and potential.

Rexas Finance innovates fractional ownership in real estate and collectibles, democratizing access to traditionally illiquid assets through tokenization.

XRP’s rally is boosted by Ripple’s talks with Trump advisors, possibly leading to favorable regulations. Speculation on SEC Chair Gensler’s resignation also sparks optimism for Ripple’s legal outcomes.

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Jane Lubale

With over four years of experience in the cryptocurrency, Fintech, blockchain, and Web3 industries, I bring a wealth of knowledge and expertise to every piece I write. Backed by a Masters in Business Administration, my writing combines insightful analysis with a deep understanding of market trends, technological advancements, and regulatory landscapes. Whether crafting engaging articles, informative guides, or thought-provoking analyses, I strive to deliver content that informs, educates, and inspires readers in this rapidly evolving space.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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doge

Rare Indicator Hints $1 Dogecoin Price Is Inevitable In November?

Published

21 hours ago

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November 13, 2024

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Dogecoin price has retraced by 12.2% in the last 24 hours after surging to a new yearly high of $0.4346. As traders book profit from Bitcoin and large caps, a rare indicator on the Dogecoin chart suggests the meme coin could hit $1 in November. This would constitute a 170% increase from the current price of $0.3679. Will DOGE pull this off and soar to a one-digit price tag this month?

Rare Technical Indicator Signals Major Dogecoin Breakout

A lesser-used onchain indicator called the Market Cap to its Realized Cap (MVRV) indicates that DOGE price still has room to rise. The MVRV Z-Score uses a z-score standard deviation between market value and realized value (MVRV) to identify DOGE market tops and bottoms. 

According to this metric, the Dogecoin price hit bottom exactly 2 years ago today and has risen. Historically, values over ‘5.38’ indicate the price is overbought, and values below -0.25 indicate the price was oversold.

Rare Indicator Hints $1 Dogecoin Price Is Inevitable In November?

Currently, the DOGE MVRV Z-score is at 2.7 and is headed up. This suggests that while dogecoin is fast approaching the overvalued zone, there is still room to move, which could catapult the price to $1 and beyond.

DOGE Price Surge: Is a $1 Target Achievable This Month?

Dogecoin price is currently 170% away from hitting the $1 mark, and on-chain metrics suggest that this target is achievable this month. 

Although the Relative Strength Index (RSI) is overbought at 83.85, the average directional index (ADX), which shows how volatile a market is, is currently at 26 and moving higher. Usually, a value above 25 suggests high market volatility, which can signal a continued price increase. 

Rare Indicator Hints $1 Dogecoin Price Is Inevitable In November?Rare Indicator Hints $1 Dogecoin Price Is Inevitable In November?

Crypto analyst Ali Charts also noted that while historically, Dogecoin price topped out after MVRV crossed 78%, today’s price correction reset the MVRV to 45.65%, suggesting that DOGE still has room to climb.

Key Resistance Levels Dogecoin Needs to Break for $1

Dogecoin’s price currently sports a gigantic cup and handle in the 1-week chart timeframe. Cup and handles are generally bullish reversal patterns, and this one hints at the DOGE price soaring as high as $1.5 before hitting a major resistance. 

However, on the way up, Dogecoin may encounter resistance levels of around $0.5 and $0.76, which coincides with its previous all-time high.

On the flip side, $0.35 is a local support level that the DOGE price may fall to if bears persist. Below that, the $0.2 resistance-turned-support is strong enough to hold the price up against high sell pressure.

Rare Indicator Hints $1 Dogecoin Price Is Inevitable In November?Rare Indicator Hints $1 Dogecoin Price Is Inevitable In November?
Dogecoin Price Analysis Chart

If the price falls below $0.2, the current bullish thesis would be invalidated, and the Dogecoin price forecast indicates the meme coin would enter a bear market.

DOGE price is currently retracing, taking a breather before the next leg up. After the Trump-Vance published a circular naming Elon Musk and Vivek Ramaswamy as the heads of the Department of Government Efficiency (DOGE), investors are watching the DOGE price closely as it could erupt to $1.

Frequently Asked Questions (FAQs)

Yes, it’s possible. On-chain metrics and technical indicators suggest room for growth. If the bullish momentum continues, DOGE could surge 170% to reach $1 in November.

The MVRV Z-Score is an on-chain metric that measures the difference between Dogecoin’s market cap and its realized cap. It helps identify tops and bottoms in the market. A rising MVRV Z-Score indicates the potential for further price gains.

Dogecoin price has pulled back by 12.2% after a strong rally to a yearly high of $0.4346 as traders are taking profits. However, a rare indicator suggests there is still potential for further gains.

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Evans Karanja

Evans Karanja is a crypto analyst and journalist with a deep focus on blockchain technology, cryptocurrency, and the video gaming industry. His extensive experience includes collaborating with various startups to deliver insightful and high-quality analyses that resonate with their target audiences. As an avid crypto trader and investor, Evans is passionate about the transformative potential of blockchain across diverse sectors. Outside of his professional pursuits, he enjoys playing video games and exploring scenic waterfalls.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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All-Time High

Cryptocurrencies That Soared to All-Time High, Rewarding Investors with Massive Returns

Published

1 day ago

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November 12, 2024

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The cryptocurrency market has displayed remarkable strength, with the overall global market capitalization soaring to $2.93 trillion, approaching the significant $3 trillion threshold. This achievement, as stated by the International Monetary Fund (IMF), positions the value of the crypto market higher than the GDP of whole countries, such as Spain. Fueled by this increase, Bitcoin (BTC), RabBitcoin (RBTC), and Sui (SUI) have recently reached all-time high, delivering remarkable gains to investors. Here’s an overview of these leading performers — along with an additional token creating notable excitement.

Cryptocurrencies Hitting All-Time High

1. Bitcoin (BTC): All-Time High Nearing the $90,000 Mark

Bitcoin, one of the top cryptos to buy, continues to maintain its dominance, recently reaching an all-time high of $89,956.88 on November 12, 2024. This recent rise follows its largest daily surge ever, soaring over $8,400 in only one day.

Bitcoin price all-time high chartBitcoin price all-time high chart

This increase came after Donald Trump’s recent victory in the U.S. presidential election, which numerous experts associate with favorable cryptocurrency regulations and expected shifts in economic policy.

These factors have renewed investor confidence in Bitcoin price, leading multiple market analysts to predict a climb toward the $100,000 mark by year-end and possibly hitting $1 million over time. Boasting a market capitalization over $1.73 trillion, Bitcoin remains the cornerstone of the cryptocurrency landscape, offering significant returns to investors.

2. RabBitcoin (RBTC): A 379% Weekly Surge to All-Time High

RabBitcoin (RBTC), the native token of the Rocky Rabbit gaming platform, has captivated the market with remarkable growth. RBTC’s unique appeal lies in its integration with Rocky Rabbit’s blockchain-based gaming experience, offering players a play-to-earn model.

This innovation, combined with Bitcoin’s rally, has driven RBTC’s weekly growth by an impressive 379%, with its all-time high recently peaking at $0.00003269.  According to CoinMarketCap, RabBitcoin’s market cap of $150.7 million and 24-hour trading volume of $23.11 million illustrate its growing popularity and potential for continued growth.

RabBitcoin (RBTC) price chartRabBitcoin (RBTC) price chart

With gameplay tied to cryptocurrency rewards, RBTC provides both gamers and investors with promising opportunities.

3. Sui (SUI): Pioneering a User-Centric Blockchain Experience

Sui (SUI) has quickly established itself as a transformative force within the crypto landscape. As a layer-1 blockchain, Sui’s technical framework prioritizes scalability, security, and user accessibility, qualities that have driven its all-time high to $3.30.

Even though the value of the token has slightly retraced, the past seven days has seen SUI gain 54.31%, marking a steady climb and increasing investor interest. Through innovations like zkLogin and programmable transaction blocks, Sui offers users a streamlined experience that’s rare in the Web3 space.

With a market cap of $8.57 billion and strong community support, Sui stands out as a foundational blockchain project, rewarding early investors with substantial returns.

Sui (SUI) price chartSui (SUI) price chart

4. Minotaurus ($MTAUR): The Up-and-Comer

Amidst these major coins, Minotaurus ($MTAUR) is capturing attention as a promising newcomer, especially within the blockchain gaming space. MTAUR recently reached the 100K USDT milestone in its presale, attracting both participants and gamers alike.

Priced at 0.0000598 USDT — a 70% reduction from its listing price of 0.00020 USDT — Minotaurus offers substantial growth potential. Early supporters have already experienced an increase of around 50%, and with the token listing approaching, further progress is likely.

Minotaurus’s appeal goes beyond speculation. In the game, MTAUR tokens unlock special features, power-ups, and exclusive zones, creating intrinsic value. Additionally, Minotaurus leverages a cliff and vesting structure, ensuring long-term stability and fostering community engagement.

With its focus on casual gaming, a market worth $15 billion, Minotaurus is well-positioned to benefit from broader trends in both crypto and gaming. Plus, the project’s security has been validated through audits by SolidProof and Coinsult, offering participants additional peace of mind.

Minotaurus TokecomicsMinotaurus Tokecomics

Conclusion

As Bitcoin, RabBitcoin, and Sui reach all-time highs, the crypto market’s momentum seems unstoppable. These coins not only represent different aspects of the cryptocurrency ecosystem but also reward investors willing to navigate the market’s risks.

Meanwhile, Minotaurus (MTAUR) offers a unique opportunity with its strong fundamentals and growth potential, making it a project to watch in the blockchain gaming arena. For those ready to act, this diverse set of assets offers both stability and potential for massive returns in a rapidly expanding market.

Frequently Asked Questions (FAQs)

These cryptocurrencies hit all-time highs due to market optimism, tech advancements, and economic shifts, rewarding investors with significant returns.

Minotaurus boasts strong fundamentals and gaming utility, offering referral and vesting bonuses. Priced at a 70% discount, it attracts early investor interest.

Cryptocurrencies exhibit market risks due to volatility. Bitcoin offers high liquidity and adoption, while RBTC and SUI leverage unique gaming and blockchain features. MTAUR’s gaming utility and presale incentives promise upside but entail risks of new projects.

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Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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