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‘Let the Santa Rally Begin’: Top Trader Predicts Massive Rally to New All-Time for Dogecoin – Here’s His Target

A widely followed crypto strategist believes it’s only a matter of time before top memecoin Dogecoin ( DOGE ) erupts. Pseudonymous analyst Bluntz tells his 301,200 followers on the social media platform X that DOGE only needs to take out its diagonal resistance at around $0.50 to ignite rallies to a fresh all-time high. “When DOGE finally breaks this three-week range, the upside move will be violent, just like the last one, in my opinion. Tick tock.” Source: Bluntz/X Looking at the trader’s chart, he seems to predict that DOGE can surge to a new record high above $0.90. At time of writing, DOGE is worth $0.422. Bluntz also thinks that December will be an incredibly bullish month for crypto with the top memecoins leading the charge. “Let the Santa rally begin… DOGE, PEPE and SHIB all doing more volume than Solana [Monday] despite being, in some cases, 1/10th of the market cap. If you think the meme meta is dead, I’m sorry but you’re not going to make it.” Source: Bluntz/X Bluntz also says that retail traders are now pouncing on crypto and are more interested in coins that emerged during the 2017 market cycle, known as “dino” coins. “After observing retail finally coming back and deciding to start bidding…. ‘drum roll’ the same cr*p they bid last cycle. Makes me think when the memecoin bid inevitably comes back on they’re going to bid on dino memes as well. Obviously DOGE, but ALSO SHIB, FLOKI, etc.” Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post ‘Let the Santa Rally Begin’: Top Trader Predicts Massive Rally to New All-Time for Dogecoin – Here’s His Target appeared first on The Daily Hodl . Coincu

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Market Crash Coming? US Government Transfers Nearly $2 Billion In Silk Road Bitcoin To Coinbase

Nearly $2 billion worth of Bitcoin (BTC) linked to the now-defunct dark web marketplace Silk Road were moved by the Feds to America’s largest crypto exchange Coinbase on Monday. This marks the latest high-profile transfer of the United States government’s Bitcoin holdings. Notably, even the indication that a gigantic Bitcoin whale such as a government is about to dump large amounts of the premier crypto is enough to send markets tumbling. Inside US Government’s Latest BTC Transfer According to data from on-chain intelligence firm Arkham Intelligence, a wallet tagged as “U.S. Government: Silk Road DOJ Confiscated Funds” sent some 19,800 BTC, worth around $1.92 billion, to a Coinbase Prime deposit address. U.S. authorities confiscated the BTC in a 2021 investigation of James Zhong, who last year pleaded guilty to wire fraud related to the Silk Road marketplace. Zhong manipulated the Silk Road transaction system in 2012 to steal 50,676 Bitcoins. The Department of Justice seized the stash in 2022 after BTC’s price had surged significantly, making it one of the biggest Bitcoin seizures in history. The Monday transfer likely signals that the government is preparing to sell the assets. Previous transfers by the Feds have triggered substantial sell-offs in Bitcoin. The BTC price is now up 0.4% over a 24-hour period, according to CoinGecko. Its price hovers at $95,389 at the publication time. The US government still held roughly $18 billion worth of Bitcoin at the time of writing this, meaning it is the largest geopolitical holder of the flagship cryptocurrency. U.S. Government Selling Its Bitcoin Holdings Is A “Huge Strategic Mistake” Crypto industry observers quickly reacted to the U.S. government’s decision to shift almost $2B in BTC to Coinbase. “This is a huge strategic mistake,” wrote Jason Lowery, the author of Softwar: A Novel Theory on Power Projection and the National Strategic Significance of Bitcoin. “There is no price where it makes sense for the US to sell any Bitcoin it has under its control. They have no idea what they own, and it shows.” Lowery added: “Remember this post when they inevitably try to justify a new version of EO 6102 to reclaim the Bitcoin they sold off due to their ignorance about the true significance of this technology.” For those unaware, EO 6102 authorized President Franklin D. Roosevelt to force American citizens to relinquish their gold coins, gold bullion, and gold certificates. The executive order was implemented so that the U.S. government could devalue the dollar more aggressively to stimulate the economy during the Great Depression. Coinbase CEO Brian Armstrong agreed with Lowery, noting that the government shouldn’t dump its BTC. Notably, US lawmakers like Senator Cynthia Lummis and the incoming president Donald Trump, have proposed passing legislation to create a strategic Bitcoin reserve in the United States. The Wyoming Republican officially introduced the Bitcoin Act in August for the government to purchase 1 million BTC — approximately 5% of the total circulating supply — for five years to match the country’s gold reserves. Coincu