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TRON Price Climbs After 10 Million TRX Burn; What’s Next For TRX?

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TRON  (TRX) price has seen a recent price rebound, signaling a possible shift in market dynamics. For weeks, the cryptocurrency’s trading pattern showed limited movement as both bulls and bears battled for dominance. 

Despite a bearish trend, recent market activity suggests a potential recovery could be on the horizon. The recent 10 million TRX token burn has increased bullish sentiment, causing upward pressure on the price.

TRON Price Surges Amid Burn Signals Potential Future Growth.

TRON has made a significant move in its token economy by burning 10,136,282 TRX on October 11th. This burn underscores TRON’s commitment to deflationary mechanisms and potential value growth.

The recent burn resulted in a net negative production ratio of -5,069,243 TRX, indicating that the amount of TRX destroyed exceeded the new supply issued. Such burns often aim to decrease the token supply, potentially driving up its value over time by making it more scarce.

The crypto market is experiencing a significant surge, with Bitcoin maintaining a strong position above the $62,000 mark and Ethereum holding steady above its $2,400 support level. This momentum fuels optimism across the market, positively influencing other top altcoins.

Can TRON Price Hit $0.20 Soon?

TRX price has seen an upward trend in the last 24 hours, rising by 2.16% to $0.1637. After experiencing a slight dip earlier in the day to $0.1591, the cryptocurrency showed a strong recovery. The market has shown resilience, with a peak of $0.1638 recorded during the same time frame.

If TRON price prediction surpasses the $0.18 resistance, it could next target the psychological $0.20 level. However, if the bullish momentum weakens, the price could consolidate back to the $0.15 range or lower. On the downside, the key support levels remain at $0.15 and $0.12.

The MACD indicator on the daily chart reveals a potential bullish crossover. The MACD line has surpassed the signal line, a common indication of growing upward momentum. The histogram also moves into positive territory, supporting the view of bullish strength.

TRON Price Climbs After 10 Million TRX Burn; What’s Next For TRX?TRON Price Climbs After 10 Million TRX Burn; What’s Next For TRX?
TRON Price Chart| Source: TradingView

TRON  indicates a significant surge in trading activities. TRX volume has risen, highlighting the increasing interest and activity in the market. Open interest in TRX derivatives has also seen a notable rise. These volume and open interest increases suggest heightened market confidence and active participation.

TRON Price Climbs After 10 Million TRX Burn; What’s Next For TRX?TRON Price Climbs After 10 Million TRX Burn; What’s Next For TRX?
Source- Coinglass

The TRON’s token burn and positive technical indicators suggest the potential for further growth. However, the market remains volatile, and traders should watch key support and resistance levels closely.

Frequently Asked Questions (FAQs)

A TRON token burn is when a certain number of TRX tokens are permanently removed from circulation to decrease supply and potentially increase value.

Over 10 million TRX tokens were burned on October 11th, 2024.

The TRX burn created bullish momentum by reducing the token supply, which contributed to a price increase.

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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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Doge price

DOGE Positions surge $310M ahead of Trump Inauguration

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Dogecoin price continues to consolidate below $0.35 on January 12, as market sentiment hangs in the balance. Derivatives markets data shows DOGE traders reluctant to close out their positions with Trump’s inauguration now 1 week away.

Dogecoin price consolidates at $0.35 as traders await further clarity

Dogecoin (DOGE) remains under pressure as its price consolidates near $0.33 on January 12. The cryptocurrency’s price action reflects broader market concerns, with events such as FTX liquidations and the potential U.S. government sell-off of Silk Road-related Bitcoin holdings weighing heavily on investor sentiment.

Dogecoin Price Action | DOGEUSD
Dogecoin Price Action | DOGEUSD

DOGE price faced a steep 18% decline between January 5 and January 9, dropping from $0.39 to $0.32 during a period of heightened market sell-offs. However, the meme coin managed a modest 5% rebound, climbing to $0.35 before encountering resistance. At press time, DOGE has slipped back to $0.33, reflecting continued hesitancy among traders to commit to long positions amid prevailing uncertainty.

Dogecoin Open Interest Crosses $3.5B as Traders take fresh Positions ahead of Trump Inauguration

Despite a period of price consolidation, speculative bets suggest that strategic Dogecoin traders are preparing for potential bullish triggers linked to upcoming events. Confirming this narrative, the Coinglass Open Interest chart below tracks the total value of capital currently invested in unsettled DOGE futures contracts.

Dogecoin Open Interest vs. DOGE Price | Source: CoinglassDogecoin Open Interest vs. DOGE Price | Source: Coinglass
Dogecoin Open Interest vs. DOGE Price | Source: Coinglass

DOGE price has risen by 7% over the past three days, climbing from $0.31 to $0.33. However, the 9.5% increase in Open Interest, from $3.24 billion to $3.55 billion, has significantly outpaced the price movement. This divergence suggests that traders are increasingly placing leveraged bets on potential upside rather than exiting positions despite stagnant price action.

Key narratives driving this surge in speculative positions include the newly established the Department of Government Efficiency (D.O.G.E.) initiative and Elon Musk’s continued involvement in Trump’s administration. With Trump’s Inauguration on January 20 now one week away, this 9.5% surge in Open Interest indicates renewed trader enthusiasm, as both long and short positions are being actively built in anticipation of a volatility spike.

If these speculative bets align with a bullish market response to Trump’s inauguration, DOGE could experience a breakout from its consolidation zone near $0.35.

DOGE Price Forecast: $0.40 Breakout Potential Hinges on Key Indicators

With Trump’s inauguration on the horizon, Dogecoin price forecast paints a positive outlook. Technical indicators show DOGE is currently consolidating near $0.34, with traders eying the upper Bollinger Band (BB) at $0.39 as a pivotal resistance level.

The BB width suggests reduced volatility, implying that DOGE may be coiling for a breakout. Trading volume at 456.11 million, coupled with a mild recovery in the Bull-Bear Power (BBP) indicator at -0.01235, hints at stabilizing market sentiment after DOGE’s recent plunge and subsequent 7% rebound.

Dogecoin price forecast | DOGEUSDDogecoin price forecast | DOGEUSD
Dogecoin price forecast | DOGEUSD

A bullish scenario could unfold if DOGE sustains momentum above the Volume Weighted Average Price (VWAP) of $0.3395. This would target the $0.39 resistance and potentially pave the way for a rally toward $0.40.

Increased volume and positive BBP movement would validate this breakout, aligning with market optimism surrounding upcoming events.
Conversely, a bearish breakdown below $0.33, accompanied by declining volume, could reintroduce selling pressure, potentially retesting the lower BB limit at $0.28. DOGE must hold its current consolidation to avoid a bearish reversal.

Frequently Asked Questions (FAQs)

Dogecoin is consolidating near $0.33 as traders await clarity from macroeconomic factors and potential market-moving events.

The 9.5% rise in Open Interest reflects growing speculative bets, signaling traders anticipate increased volatility ahead.

Yes, heightened speculation around political events, including Trump’s inauguration, could act as a potential catalyst for DOGE price movements.

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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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ETH Price

$175M Staking to spark $3,300 Breakout?

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Ethereum (ETH) price rebounded 4% to reach $3,220 on January 12, as the crypto market sell-off subsided. On-chain data shows investors making large deposits into ETH 2.0 staking contracts. Has ETH price formed a market bottom?

Ethereum (ETH) Price Gains 4% as Market Sell-off Wanes

Ethereum (ETH) experienced a volatile week, reflecting the broader crypto market dynamics. The recent turbulence was fueled by macroeconomic concerns and the ongoing effects of market-wide liquidations triggered earlier this month.

ETH price dropped by 10% between January 6 and January 9, falling from $3,150 to $2,835 as investors reacted to heightened uncertainty. The broader crypto sell-off was exacerbated by liquidity concerns, which intensified bearish sentiment across major altcoins.

Ethereum Price Action | ETHUSD
Ethereum Price Action | ETHUSD

However, Ethereum found support near the $2,850 mark on January 10, as selling pressure eased and on-chain activity indicated a shift in sentiment. Investors began making significant deposits into ETH 2.0 staking contracts, reflecting renewed confidence in the network’s long-term potential.

As of January 12, ETH has rebounded 4%, climbing back to $3,220. This recovery hints at the formation of a local bottom, with traders now closely monitoring key resistance levels and potential catalysts for further upward momentum.

Ethereum 2.0 Staking Inflows Surge By $175 Million in 3 Days

Ethereum’s rebound above $3,200 has fueled optimism that the cryptocurrency may consolidate within the $3,150–$3,400 range in the near term.

On-chain data reveals a considerable surge in Ethereum staking deposits, signaling growing confidence among long-term holders and network validators. According to the official data from the Beacon Chain, ETH staking inflows have seen a sharp uptick over since January 9, coinciding with the 4% price rebound.

Ethereum Staking Deposits vs. ETH Price | Source: StakingRewardsEthereum Staking Deposits vs. ETH Price | Source: StakingRewards
Ethereum Staking Deposits vs. ETH Price | Source: StakingRewards

As of January 9, the total staked value stood at 33.84 million ETH. Despite the broader market downturn that saw ETH dip below $3,200 earlier in the week, staking activity intensified. Over the past three days, investors staked an additional 53,000 ETH—valued at approximately $175 million at current prices— bringing the total staked to 33.89million ETH as of January 12.

This development offers two key insights into Ethereum’s short-term outlook. Firstly, increased staking cuts down short-term market supply, easing immediate sell-side pressure.

Secondly, the increased staking activity signals a shift in investor behavior. Rather than liquidate holdings during the recent market downturn, a significant cohort of ETH holders opted to lock their assets into staking contracts, leveraging passive rewards as a buffer against short-term price volatility.

While the broader crypto market sentiment remains cautious, Ethereum’s rising staking deposits, position the asset for a steady consolidation above the $3,200 mark in the coming days.

Etheruem Price Forecast: Bulls Set to Hold $3,200 Support

Ethereum price prediction paints an optimistic outlook, with staking deposits mopping up excess market supply from last week’s sell-off. From a technical standpoint, ETH is currently trading $3,271, consolidating near its lower Bollinger Band of $3,116, which offers immediate support.

Ethereum price forecast (ETHUSD)Ethereum price forecast (ETHUSD)
Ethereum price forecast (ETHUSD)

The Bollinger Bands indicate low volatility as they tighten, signaling a potential breakout ahead, if market sentiment flips positive. However, trading volume remains subdued at 27.72K, and the ADX trending at 20.77, market sentiment remains largely cautious. In essence, weak breakout attempts may struggle to breach the $3,300 resistance.

A bullish scenario could materialize if ETH reclaims the $3,419 midline of the Bollinger Bands, with increased volume supporting the uptrend. Conversely, failure to hold $3,200 may see ETH test the critical $3,116 support level.

Frequently Asked Questions (FAQs)

Ethereum’s price rebounded due to eased selling pressure, renewed investor confidence, and a surge in ETH 2.0 staking deposits.

Staking deposits reduce market supply and indicate long-term investor confidence, supporting Ethereum’s price stability and upward momentum.

Ethereum faces resistance at $3,419, while $3,200 and $3,116 serve as critical support levels to monitor.

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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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Dogecoin (DOGE)

Top 3 Reasons to be Bullish on Dogecoin (DOGE) Price

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Dogecoin (DOGE) price, a popular meme-based cryptocurrency, is attracting attention as it shows signs of a potential bullish flag pattern. Despite market corrections, Dogecoin’s performance remains promising, signaling potential gains ahead. Crypto enthusiasts anticipate a strong rally for Dogecoin during the 2025 bull market. Here are three compelling reasons driving optimism for Dogecoin’s price trajectory.

3 Bullish Signals Pointing to Dogecoin (DOGE) Price Gaining Soon

Analyst Observes Bullish Signals for Dogecoin Amid Whale Accumulation and Market Metrics. Dogecoin’s market activity has shown promising signs as analysts highlight three bullish indicators driving optimism. Whales have reportedly accumulated 170 million Dogecoin price, signaling confidence in the cryptocurrency’s future prospects.

Recent data reveals a surge in large transactions exceeding $100,000, particularly during a market dip. This pattern indicates strategic accumulation by investors aiming to capitalize on lower prices.

Whale Activity Points to Confidence in Dogecoin Price

According to blockchain metrics, a sharp increase in whale activity is evident, with significant DOGE movements observed in the past week. Analysts emphasize that these transactions often precede price recoveries, showcasing strong interest from high-net-worth investors.

Charts show notable accumulation by wallets holding between 1 million and 10 million DOGE. This consistent accumulation trend suggests whales are confident about potential market upside.

Top 3 Reasons to be Bullish on Dogecoin (DOGE) PriceTop 3 Reasons to be Bullish on Dogecoin (DOGE) Price
Source: Santiment

MVRV Ratio Signals “Opportunity Zone” for Investors

Dogecoin’s 30-day Market Value to Realized Value (MVRV) ratio has entered what analysts describe as an “Opportunity Zone.” Historically, this zone reflects periods of underbought conditions, indicating that short-term holders are capitulating.

The current MVRV reading highlights a favorable entry point for new investors, reducing the risk of overvaluation. Analysts believe this metric further supports bullish sentiment for Dogecoin in the near term.

Top 3 Reasons to be Bullish on Dogecoin (DOGE) PriceTop 3 Reasons to be Bullish on Dogecoin (DOGE) Price
Source- Santiment

Supply Metrics Indicate Reduced Selling Pressure

Supply on exchanges has declined, indicating reduced selling pressure from traders. Lower exchange balances often correlate with a rise in long-term holding behavior, bolstering market stability.

Charts reveal a consistent reduction in exchange supply alongside the accumulation activity, reinforcing the notion of a bullish outlook. Analysts are closely monitoring this trend for potential price gains.

Top 3 Reasons to be Bullish on Dogecoin (DOGE) PriceTop 3 Reasons to be Bullish on Dogecoin (DOGE) Price
Source- Santiment

DOGE Technical Analysis

At the time of writing, the DOGE price is trading near $0.3340, showing mild bearish momentum. Dogecoin price has remained within a narrow consolidation range between $0.30 and $0.35. The Relative Strength Index (RSI) currently reads 44.21, hovering in the neutral zone. 

​​Dogecoin price prediction faces immediate resistance at $0.35, which aligns with recent failed attempts to sustain upward momentum. Breaking this level could pave the way toward $0.50, a key psychological target. Beyond this, the next major resistance lies at $0.7376, reflecting a historical pivot point from previous market cycles.

On the downside, $0.30 acts as a significant support level, helping to limit selling pressure. If bears breach this zone, the meme coin could revisit lower price levels, potentially retesting $0.20.

Top 3 Reasons to be Bullish on Dogecoin (DOGE) PriceTop 3 Reasons to be Bullish on Dogecoin (DOGE) Price
Source: TradingView

Dogecoin’s bullish signals, including whale accumulation, favorable MVRV ratios, and reduced exchange supply, indicate promising price action. Analysts remain optimistic about its future performance, with key resistance and support levels shaping its trajectory in the upcoming market cycles.

Frequently Asked Questions (FAQs)

Whales accumulating DOGE signals confidence and potential price recovery.

It shows DOGE is in an “Opportunity Zone,” signaling underbought conditions.

Dogecoin faces immediate resistance at $0.35, with potential targets at $0.50.

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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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