Category: Cryptocurrency News

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In recent trading sessions, the price of Dogecoin has experienced an upward trend, surpassing a significant resistance level. Over the past 24 hours, DOGE recorded a 1.2% increase, and within the last week, the coin appreciated by 2%. The technical analysis suggests the possibility of upcoming bullish momentum as buying strength attempts to recover. However, demand and accumulation indicators have not yet entered the positive zone. Related Reading: Bitcoin Bulls Push BTC Back Up To $28K Amid Surging Address Activity To establish bullish control in subsequent sessions, DOGE must surpass a crucial resistance level. The broader market’s recovery, including Bitcoin’s rise above $27,500, may also contribute to the DOGE upward price movement. The upcoming trading sessions will be crucial in determining whether bulls or bears will dictate the price action. However, the decline in the Dogecoin market capitalization indicates current seller dominance over the asset. Dogecoin Price Analysis: One-Day Chart At the time of writing, DOGE was trading at $0.073 and has shown gradual gains since surpassing the $0.070 resistance line. However, a potential price correction could occur if it fails to breach its overhead resistance. The immediate resistance level for DOGE is set at $0.075. Surpassing this level would likely trigger a rally toward the $0.078 mark, strengthening the position of the bulls. Conversely, if DOGE fails to hold its current price level, it may decline to $0.071 and potentially drop below $0.070. The recent trading session indicated weak buying strength, as the amount of Dogecoin traded was in the red. Technical Analysis Throughout May and even April, Dogecoin faced challenges in attracting positive demand. At the current moment, buying strength remains low despite the ongoing recovery. The Relative Strength Index (RSI) indicates that buyers still lack confidence in the asset, as it is below the half-line. Furthermore, the DOGE price has fallen below the 20-Simple Moving Average (SMA) line, indicating that sellers are driving the price momentum in the market. However, if Dogecoin manages to surpass the $0.070 price level, it will move above the 20-SMA line, indicating increased demand and potentially reversing the current trend. On the one-day chart, DOGE exhibited diminishing buy signals in line with other technical indicators. The Moving Average Convergence Divergence (MACD), which indicates price momentum and trend reversal, showed declining green histograms associated with buy signals. Additionally, the Bollinger Bands, which reflect price volatility and fluctuation, displayed significant narrowing. This suggests that DOGE may experience heightened price volatility and fluctuations in the upcoming trading sessions. Related Reading: Ethereum Correction: Key Level Break Can Shift Price Course Currently, DOGE is positioned at a critical price level, and the next trading sessions will determine whether the price will break out to the upside or downside. Featured Image From UnSplash, Charts From TradingView.com

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The community expressed a range of opinions, with some individuals stating that the ban is reasonable, while others went as far as reconsidering their vacation plans.

The cryptocurrency exchange received “in-principle” approval to begin operations in Kazakhstan at the Astana International Financial Centre.

Bitcoin fundamentals are blasting ahead as May comes to an end, while traders remain torn over BTC price strength.

Floki Inu (FLOKI) entered the crypto landscape with a wave of enthusiasm, riding on the coattails of the meme coin trend that gained momentum through the success of Dogecoin. Its charismatic Shiba Inu mascot and an active community on social media platforms quickly attracted a dedicated following.  Floki Inu’s journey, however, has not been without its fair share of ups and downs. As the crypto market is known for its volatility, the question arises: Can Floki Inu rally strong enough to regain its coveted spot among the top 100 cryptocurrencies? Related Reading: Bitcoin Bulls Push BTC Back Up To $28K Level Amid Surging Address Activity Floki Inu Market Cap And Growth Analysis Floki Inu (FLOKI), despite previously achieving a significant rally that propelled it into the top 100 cryptocurrencies by market capitalization, has recently lost its position among the elite. Currently, FLOKI holds the 121st spot with a market capitalization of $332,037,915. Source: Coingecko Within the vast cryptocurrency market, Floki Inu (FLOKI) is currently priced at a modest $0.00003367, as per CoinGecko. Over the past 24 hours, the token experienced a slight 2.8% increase. However, it managed to tally a decent 8.8% over the past seven days. The coin is down 6.7% in the last two weeks. Despite being introduced in 2021, Floki Inu has not achieved the same extraordinary level of success as renowned meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB). However, it would be unjust to characterize FLOKI’s growth as disappointing. Since its launch, the token has experienced an impressive surge of 656.12%, illustrating its capacity for generating substantial returns. Potential Catalysts For Floki Inu’s Re-entry To Top 100 A pivotal factor in Floki Inu’s quest to reclaim its position among the top 100 cryptocurrencies is the cultivation of a more robust and engaged community. By fostering active participation, encouraging community-driven initiatives, and maintaining transparency through regular updates on the project’s development, FLOKI can significantly enhance its appeal to investors and crypto enthusiasts. Floki Inu also holds strong potential in the realm of non-fungible tokens (NFTs). Notably, the trade volume associated with FLOKI’s NFTs has achieved remarkable milestones, reaching millions of dollars.  Crypto total market inches up a bit at $1.12 trillion on the daily chart at TradingView.com Related Reading: Bitcoin Core 25.0 Hits The Market: A Sneak Peek Into The Future According to on-chain data, FLOKI’s total NFT volume surged to an impressive $16.25 million in April, illustrating the significant interest in non-fungible assets linked to the Floki Inu network. To regain its standing, Floki Inu must prioritize the enhancement of its token’s utility and innovative capabilities. By actively developing real-world use cases and forging strategic partnerships with businesses and platforms, FLOKI can establish a more solid foundation for long-term growth. This focus on utility will not only attract more users but also contribute to the token’s broader adoption and increased market capitalization. -Featured image from Science Photo Library