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Hong Kong Approves First Wave of Spot Bitcoin and Ether ETFs for Trading

Bitcoin/Blockchain News/Crypto News Today

Hong Kong’s financial regulator, the Securities and Futures Commission (SFC), recently greenlit the debut of spot Bitcoin (BTC) and Ether exchange-traded funds (ETFs), scheduled to commence trading on April 30, as per a Cointelegraph report.

The approved ETFs, spearheaded by China Asset Management (ChinaAMC), are poised to offer investors, both retail and institutional, a regulated avenue for delving into the world of digital assets.

Thomas Zhu, head of digital assets and family office business at ChinaAMC, emphasized the allure of these ETFs, stating, “The in-kind feature also attracts coin holders by offering the ease of converting coins to fully regulated ETFs managed by professional fund managers and regulated custodians.”

Hong Kong’s approach stands in contrast to the cash-centric model seen in the United States, with a focus on in-kind creation models that facilitate the generation of new ETF shares through BTC and ETH.

Rebecca Sin, an ETF analyst at Bloomberg, highlighted the significance of this strategy, noting, “Hong Kong is aiming for in-kind creation of the ETF, unlike the US, where the transaction is cash only — in the US, it’s cash in, Bitcoin ETF out, while Hong Kong aims for Bitcoin in, ETF out.”

Anticipation surrounds the potential for a fee competition among ETF issuers in Hong Kong, with James Seyffart, another Bloomberg ETF analyst, suggesting, “A potential fee war could break out in Hong Kong over these Bitcoin and Ethereum ETFs.”

Harvest, in particular, is set to shake things up with a full fee waiver and a meager fee of 0.3% after the waiver.

Eric Balchunas, a senior ETF analyst at Bloomberg, expressed optimism regarding the lower-than-expected fees for the initial ETFs, deeming it a promising indicator.

He observed, “Fees are 30bps, 60bps, and 99bps which is on average lower than we thought, good sign.”

The impending debut of these ETFs in Hong Kong not only marks a milestone in the region’s financial landscape but also signals a significant step forward in the mainstream adoption of cryptocurrencies within a regulated framework.

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Robinhood Broadens Cryptocurrency Reach: New Yorkers Gain Access to SHIB, AVAX, and COMP Trading

Blockchain News/Crypto News Today

Starting Wednesday, New Yorkers gain access to trade Shiba Inu (SHIB), Avalanche (AVAX), and Compound (COMP) on Robinhood, expanding the platform’s offerings for Empire State residents to a total of 11 cryptocurrencies.

The move signifies Robinhood’s extension of trading opportunities for New York residents.

In a recent announcement, the platform unveiled the addition of Shiba Inu, Avalanche, and Compound to its list of tradable tokens in the Empire State, joining the existing options such as bitcoin (BTC), ether (ETH), dogecoin (DOGE), bitcoin cash (BCH), chainlink (LINK), litecoin (LTC), ethereum classic (ETC), and aave (AAVE).

The revelation came through an email sent to New York residents, as reported by The Block.

Robinhood’s decision to expand its cryptocurrency offerings in New York echoes its previous moves in the space.

Last June, the platform made headlines by delisting three token cryptocurrencies — Cardano (ADA), Polygon (MATIC), and Solana (SOL) — following a declaration by the U.S. Securities and Exchange Commission (SEC) regarding their status as securities.

Following the announcement, the prices of AVAX, SHIB, and COMP experienced slight declines, according to data from The Block.

AVAX is currently trading at $37.48, with SHIB and COMP priced at $0.000026 and $58.35, respectively.

Despite the minor dips, the addition of these tokens to Robinhood’s New York offerings opens up further avenues for trading and investment for Empire State residents.

In summary, Robinhood’s decision to enable trading of Shiba Inu, Avalanche, and Compound for New Yorkers marks an expansion of its cryptocurrency offerings in the state, providing investors with access to a wider range of digital assets on the platform.

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Australia Hits Milestone: 1,000 Active Bitcoin ATMs Now in Operation

Bitcoin/Blockchain News/Crypto News Today

Australia has reached a significant milestone in the realm of cryptocurrency, now boasting 1,000 active crypto-fiat machines, making it the third-largest hub for Bitcoin ATMs globally.

This achievement, as of April 24, marks a notable growth in the country’s crypto infrastructure.

Coin ATM Radar data reveals that Australia joins the ranks of the United States and Canada in surpassing the 1,000 mark for Bitcoin ATMs.

Currently, Australia represents 2.7% of the global Bitcoin ATM network, showcasing a steady rise in adoption and accessibility within the country.

The United States, leading the global landscape, hosts the majority share of Bitcoin ATMs, accounting for 82.8% with a staggering 31,170 machines.

Following closely, Canada holds 7.8% of the global market share with 2,918 crypto ATMs.

Australia’s journey to becoming a prominent player in the crypto ATM space wasn’t always evident.

Historically considered an inactive market, the country experienced a surge in adoption since the latter part of 2022, largely fueled by the involvement of private enterprises.

By April 2023, Australia had surpassed Asia in Bitcoin ATM count, a region encompassing major economies like China, Japan, Singapore, and India.

\With the current installation pace, Australia is on track to outpace Europe, which currently holds 4.3% of all active Bitcoin ATMs, totaling 1,617 machines.

Among other countries with notable crypto ATM presence are Spain (261 machines), El Salvador (215), Poland (211), Germany (194), and Hong Kong (157), showcasing a global trend towards increased accessibility to cryptocurrencies.

In a recent development reported by Cointelegraph, hackers who previously disclosed El Salvador’s Bitcoin ATM database have now released a portion of the source code for the country’s state-operated Chivo Bitcoin wallet.

The hacker group, CiberInteligenciaSV, shared the code on a public forum, emphasizing its origin from a government wallet and its availability for public scrutiny.

Local cybersecurity project VenariX issued a warning on April 22 regarding the impending leak, referencing announcements made by CiberInteligenciaSV’s Telegram channel regarding their plans to release the source code.

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Shiba Inu (SHIB) Burns Bright: Surge in Burn Rate Ignites Bullish Optimism in Crypto Market

Blockchain News/Crypto News Today

Shiba Inu (SHIB), hailed as the purported Dogecoin challenger in the meme coin arena, has sent ripples of excitement through the cryptocurrency market today, with its burn rate skyrocketing by approximately 2200%.

This surge in burn rate, occurring amidst a notable market uptrend reflected by the token, has set ablaze a bullish sentiment among crypto enthusiasts, sparking speculation about a potential upward trajectory in its price.

As of the latest update, SHIB has been trading positively, although it experienced brief dips into the red territory within the last day.

Nevertheless, buoyed by a significant increase in its burn rate, coupled with several other bullish indicators, SHIB has shone brightly with optimism on April 24.

Observers in the crypto community anticipate a strengthened price movement for SHIB, despite its recent sideways trading around the $0.000027 mark.

According to data from Shibburn, the burn rate of Shiba Inu surged by a staggering 2211.89% over the past 24 hours, resulting in the incineration of 1.84 million coins.

This surge is perceived as a bullish development, as it addresses SHIB’s supply concerns, thereby influencing the token’s market dynamics.

Remarkably, the Shiba crypto community has witnessed the destruction of an astonishing 410.726 trillion SHIB tokens to date, primarily attributable to the token’s burn mechanism.

Consequently, the current circulating supply stands at 582.86 trillion SHIB, underscoring the meme coin’s innovative cryptographic endeavor aimed at curbing excessive supply and enhancing demand and price.

At the time of writing, Shiba Inu has noted a 0.92% upswing in the past 24 hours, settling at $0.00002704.

Despite experiencing lows and highs of $0.00002629 and $0.00002796, respectively, SHIB has largely maintained a sideways trading pattern.

However, in conjunction with today’s price surge, derivatives data has reinforced a strong uptrend in the SHIB market.

Coinglass data reveals a 9.53% increase in the meme coin’s open interest, accompanied by a 29.04% rise in derivatives volume, indicating growing investor interest and bolstering SHIB’s optimistic outlook.

Furthermore, an analysis by CoinGape Media highlights key market dynamics for SHIB, suggesting a potential price target of $0.000036 should bullish sentiment persist.

Additionally, a significant on-chain whale transaction for Shiba Inu between unknown wallets today further supports the narrative of heightened investor interest in the asset, painting a positive outlook for SHIB’s future, albeit with a cautionary note on the volatile nature of the crypto market.

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Kadena Announces Annelise Osborne as Chief Business Officer

Press Releases

New York, New York, April 25th, 2024, Chainwire

Kadena, the only scalable Layer-1 Proof-of-Work blockchain, expands its leadership team by onboarding Annelise Osborne as Kadena’s new Chief Business Officer (CBO). With an illustrious career spanning over 20 years in finance, credit, real estate, and digital assets, Annelise will be responsible for developing and leading new business initiatives and partnerships across Web3 and beyond.

At Kadena, Annelise’s role as Chief Business Officer is not just a new addition to the team but a strategic move to further propel Kadena’s growth within Web3 ecosystems and adoption with institutional opportunities. Her wealth of institutional experience will be instrumental in shaping Kadena’s future.

Osborne’s appointment is a testament to her exceptional leadership abilities and strategic acumen, honed during her tenure at Moody’s, where she spent 12 years, and her previous position as COO of Propellr. Her wealth of experience brings a unique perspective to Kadena, instilling confidence in her ability to drive the company’s growth and success.

Before joining Kadena, Annelise was the Head of Institutional with Arca Labs. She successfully led the team’s work with companies to drive blockchain innovation across strategic partnerships and advisory services.

“We are thrilled to welcome Annelise Osborne as Kadena’s Chief Business Officer. Her extensive leadership experience, years of university-level lectures, and deep involvement in both blockchain and traditional markets position her to bring continued excellence to Kadena’s business operations,” expressed Stuart Popejoy, Kadena’s CEO and Founder.

“As institutions search for secure and scalable blockchains to build regulated digital assets, I’m elated to join Kadena to offer the necessary technology at such a pivotal moment in time as Wall Street embraces the next frontier of finance,” said Annelise Osborne.

Annelise’s extensive experience in financial services is complemented by her upcoming book, “From Hoodies to Suits: Innovating Digital Assets for Traditional Finance” (Wiley Publishing), set to be released this summer. This book, which delves into the intersection of digital assets and traditional finance, is a testament to her thought leadership and her ability to anticipate and navigate industry trends.

About Kadena

Kadena is a blockchain technology company that was founded in 2017 by Stuart Popejoy and Will Martino, who created JP Morgan’s first blockchain and led the SEC’s Crypto Committee. Kadena is the industry’s only scalable layer-1 Proof of Work (PoW) blockchain. This scalability enables Kadena to deliver infrastructure-grade performance for any blockchain project. Along with our own smart contract language Pact, Kadena’s platform provides the world with the tools and environment to turn ideas and ambitions into reality. Kadena aims to allow for true blockchain mass adoption.

Contact

Kadena Press
Kadena
press@kadena.io

Proof of Pitch: Revolutionizing the Pitch Competition Landscape with AI-Driven Insights and Top Web3 VC

Press Releases

Paris, France, April 25th, 2024, Chainwire

Prize pool of over 1M€ value including media grant from Cointelegraph
Proof of Pitch is part of Proof of Talk, where All Global Leaders in Web3 Meet
10-11 June 2024, Museum of Decorative Arts (MAD), Louvre Palace, Paris

In a ground-breaking shift from traditional pitch competitions, Proof of Pitch emerges as a transformative platform uniquely combining Artificial Intelligence (AI) insights with the strategic acumen of the world’s leading Web3 venture capitalists. Proof of Pitch participants will showcase their presentation to an exclusive audience of speakers and VCs, including CEOs, founders of leading blockchain companies, and top Web3 VC partners.

Next to the competition’s main sponsor zkSync, distinguished partners and jurors are participating, including Pantera Capital, Borderless Capital, Binance Labs, Greenfield Capital, Arrington Capital, Animoca Brands, Spartan Group, X Ventures, Mechanism Capital and Cointelegraph.

The Proof of Pitch winner will be awarded a first-place grand prize award of 1M€ value in a combination of cash investments by participating VCs, Accelerator services, visibility (such as a 30k media grant from Cointelegraph), and many other value-adding elements.

All participants will also receive a detailed 12-page investment report to understand the strengths and weaknesses of their pitch, outlining strengths to focus on and weaknesses to improve. This is equivalent to a team of analysts spending weeks analyzing the participant’s startup.

Zohair Dehnadi, Co-Founder, Proof of Talk and Partner, X-Ventures: “Unlike conventional pitch competitions, Proof of Pitch enables global businesses and leadership to intelligently tap into the power of Web3, providing valuable and sustainable insights for investors and the startup community at large instead of having just another light-touch startup competition with glittering prizes which ultimately do not add any real business value. Be part of our prestigious Proof of Pitch experience and elevate yourself! See you in June!”

Revolutionizing Startup Evaluation: The AI Advantage

At the heart of Proof of Pitch, a pioneering AI-driven tool is redefining startup assessments, providing deep, nuanced insights at an unprecedented pace. Developed by XVentures through a rigorous, year-long collaboration involving top VCs and data scientists, this AI, known as Pitch Scan LLM tool, can scrutinize a start-up’s business model, conducting thorough due diligence, and evaluate the team behind the idea, market size, and competitive landscape—within minutes rather than weeks. Every participant will be furnished with a detailed 10-page report, with a strategic roadmap for success in the ever-evolving Web3 domain.

Beyond Funding: Prizes That Foster Growth

This initiative is a revolutionary approach aimed at identifying, nurturing, and elevating start-ups set to redefine the innovative horizons of Web3. Winning at Proof of Pitch extends well beyond obtaining financial support. Winners are embraced by a full spectrum of resources, from AI-powered analytics to mentorship by Web3 visionaries, alongside direct introductions to leading venture capitalists. This holistic support system is designed to refine strategies, accelerate growth, and establish market leadership.

Unprecedented Visibility Among the Elite

Gain exclusive exposure by standing among the top 10% of applicants, showcased to a distinguished audience including CEOs, founders of leading blockchain enterprises, and top-tier Web3 venture capitalists. This exposure is more than mere visibility—it’s a golden ticket to captivate the attention of the industry’s elite, secure pivotal investments, and forge transformative connections.

A Vanguard Call to Web3 Innovators

Proof of Pitch calls upon start-ups at the cutting edge of Web3 innovation to dazzle the industry’s titans, venture through the vanguard of technology, and stake a claim in the digital future. This unparalleled opportunity allows participants to showcase their visionary ideas, propel their start-ups forward, and create a lasting impact in the domain of digital innovation.

Proof of Pitch invites those who are interested to dive into this revolutionary journey, an avenue for transcending traditional pitch norms. Navigate through the forefront of Web3 innovation.

Proof of Talk seeks to welcome over 2500 participants. Combined with a stellar speaker line-up featuring CEOs, founders, and leaders of the Web3 and digital assets industry, the summit features impact-focused networking and a refined agenda. A few of the speakers include:

● Joseph Lubin, CEO and Founder at Consensys

● Jenny Johnson, CEO, Franklin Templeton

● Tim Draper, Founder, Draper Associates

● Ophelia Snyder, Cofounder President, 21Shares

● Mihailo Bjelic, Co-Founder, Polygon

● Raoul Pal, Crypto Macro Economist

● Yat Siu, Chairman, Animoca Brands

● Stani Kulechov, CEO, Avara

● Staci Warden, CEO, Algorand Foundation

● Tim Grant, CEO, Deus X Capital

● Digital asset leads from over 30 major TradFi banks

● Partners from 100+ attending VCs

The summit’s agenda also actively reflects Web3’s growing importance, with over 20 panels, 10+ workshops, and over a dozen keynotes and firesides on key topics shaping Web3’s future. These include real-world asset tokenization, AI-blockchain integration, gaming evolution, and smart contract security.

Participants in this year’s Proof of Pitch can showcase their innovative ideas and gain valuable exposure. Participants have the opportunity to connect with industry experts and potential investors who can help elevate their businesses to the next level. Those who are interested can apply here.

About Proof of Talk

Proof of Talk is setting a new standard in the Web3 conference landscape, positioning itself not just as another web3 conference but as a pivotal forum where the promise of decentralization comes to life. The summit uniquely combines the essence of traditional economic forums with the dynamic, decentralized Web3 community, fostering an innovative ecosystem of dialogue and action. It stands as a platform for change, where every voice, from the seasoned economist to the radical Web3 founder, contributes to a collective vision of a decentralized economic future. By facilitating engaging discussions and unparalleled networking, participants shape this new landscape. Learn more at www.proofoftalk.io

About X Ventures

X Ventures is a Germany-based digital assets investment fund dedicated to supporting and empowering entrepreneurs in the Web3 industry. Alongside its investment activities, X Ventures founded www.xschool.io, aiming to provide accessible education to future leaders worldwide. Website: https://www.xventures.de

Contact

Shanna Molina
Cognito
shanna.molina@cognitomedia.nl

DAO Maker Faces Backlash Over Unfulfilled Compensation Promises Following $7M Hack

Blockchain News/Crypto News Today/DeFi

DAO Maker, a crypto fundraising platform focused on Web3 projects, is distinct from the MakerDAO stablecoin protocol and aims to raise significant funds in 2024.

Despite this initiative, the platform is under scrutiny from victims of a 2021 hack who claim they have not been fully compensated for their losses, despite promises from the development team.

The hack, resulting in a loss of approximately $7 million, was attributed to a compromised private key, which victims allege stemmed from developer negligence.

Initially, DAO Maker responded to the August 2021 breach by distributing 500 USD Coin per affected user and promising further compensation through a new IOU token named “USDR,” scheduled to be redeemable within a year for the platform’s native DAO token at enhanced rates.

However, victims told Cointelegraph that they were never able to redeem their USDR tokens, and the promised redemption process was reportedly canceled following a governance vote influenced by DAO Maker using its substantial token holdings.

Adding to the controversy, a decentralized finance (DeFi) researcher from SOMA Analytics reported that DAO Maker might have manipulated the governance vote to abandon the USDR redemption and attempted to erase evidence of this decision.

Victims of the hack remain uncompensated, and the USDR token has become nearly worthless, with no active market or exchange possibilities.

One investor, speaking under the pseudonym “Red Drac,” described receiving 500 USDT immediately after the hack and 1,500 USDR later, which they were unable to redeem or sell at full value.

They discovered a liquidity pool that offered the USDR tokens at a substantial discount but chose not to sell, leaving the tokens in their wallet.

Another affected user, “Zztelecom,” also highlighted the inability to redeem USDR, buying them at a discount in the hope of future gains that never materialized.

SOMA Analytics further detailed how a specific proposal on the DAO Maker platform to adjust the USDR redemption terms was passed by just six wallets, suggesting potential manipulation.

This proposal reduced the redemption value of USDR significantly, contradicting earlier commitments.

Despite the DAO vote favoring a 50% redemption rate, no compensation was distributed, and the tokens were made unredeemable for anything other than DAO Power on the platform, effectively rendering them useless in the secondary market.

The situation has left many investors with tokens that offer little more than the potential to participate in future token offerings without guarantee of profit.

As DAO Maker continues to operate, servicing Web3 startups and maintaining a significant market presence, the unresolved issues from the hack raise ongoing concerns about governance and compensation practices within the platform.

Cointelegraph’s inquiries to DAO Maker for comments remained unanswered at the time of publication.

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$60 Million in Tether Issued on The Open Network (TON) in First Days

Blockchain News/Crypto News Today/DeFi

Since Tether began supporting The Open Network (TON) on April 19, $60 million worth of Tether has been issued on the platform.

This places TON as the 11th-largest blockchain for Tether among the 16 that currently support the stablecoin.

The announcement of this initiative was made at the Token2049 crypto conference in Dubai, signifying a strategic collaboration between the stablecoin issuer and the TON Foundation.

Alongside Tether, the firm has also introduced the gold-pegged Tether Gold (XAUT) stablecoin on the TON blockchain.

The Open Network team emphasized the efficiency of this new offering, highlighting that cross-border payments can be made instantly and without fees, as simply as sending a text message to any of Telegram’s 900 million users.

Tether CEO Paolo Ardoino expressed optimism about the partnership’s early results, noting in a social media post on April 21 that $35 million in USDT had already been issued on TON within the first two days.

This figure has since increased to $60 million according to the latest Tether Transparency report.

The integration with Telegram allows users to send money seamlessly through direct messages without the need for blockchain addresses or additional applications.

The platform also supports fully integrated on-ramps for most global fiat currencies at launch, and plans are in place to introduce global off-ramps that will facilitate withdrawals directly to bank accounts or cards.

Despite these developments on TON, the majority of Tether’s $109.8 billion circulating supply remains on the Tron network, which hosts $57.8 billion.

Ethereum follows with $51 billion in circulation, although this figure has been decreasing as Tether expands to other blockchains to mitigate high network fees associated with Ethereum.

Other blockchains supporting Tether include Solana, which ranks third with $1.9 billion issued, and several others such as Avalanche, Omni, Cosmos, Tezos, Near, EOS, and Celo.

In the broader stablecoin market, Tether maintains a dominant position with a 69% market share of the total $159.5 billion stablecoin market capitalization, as per data from CoinGecko.

Circle’s USD Coin, the nearest competitor, holds a 21% market share with $33.7 billion in circulation.

Following the announcement, the price of Toncoin spiked by 22%, although it quickly reverted to its prior levels. As of the latest update, Toncoin is trading down 1.6% at $6.13.

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ZKasino Faces Backlash for Misusing $33 Million in User Funds, Sparking Fraud Allegations and Investor Outrage

Blockchain News/Crypto News Today/Gambling

The blockchain gambling platform ZKasino has faced significant criticism after diverting $33 million in investor and user funds to the staking protocol Lido.

This move, disclosed in a blog post on April 20, deviated sharply from the initial promise to return these funds.

According to ZKasino’s announcement, its network had successfully launched, attracting over 10,000 users who transferred a total of 10,515 Ether in exchange for the platform’s native ZKasino (ZKAS) tokens.

Contrary to expectations, the platform converted the bridged ETH to ZKAS tokens at a “discounted rate of $0.055” on a 15-month vesting schedule, a change from the original plan.

ZKasino described these changes as “done as a favour” to ensure a “seamless transition” to its chain, which does not utilize ETH.

This led to user concerns, especially after the company altered its website to omit previous guarantees of ETH returns.

Further scrutiny arose after an on-chain analysis revealed that ZKasino had transferred all the user’s ETH to Lido. Adding to the controversy, an anonymous developer identified as “cygaar” criticized the technological underpinnings of ZKasino’s blockchain.

According to cygaar, the blockchain was merely an “Arbitrum Nitro chain that took 2 minutes to deploy” and did not incorporate the promised zero knowledge or EigenDA technologies.

Outraged users have voiced their concerns on X, with some accusing the project of being an exit scam and sharing personal details of ZKasino’s founder, known as “Derivatives Monke,” to push for legal actions.

The situation escalated with Venture capital firm Big Brain denouncing the project.

In an X post dated April 21, Big Brain clarified that it “never invested in ZKasino” despite previous claims by ZKasino of securing a Series A funding at a valuation of $350 million from notable firms including MEXC and Big Brain Holdings.

In response, MEXC, a crypto exchange implicated as an investor, distanced itself from ZKasino’s actions.

On April 21, TechFlow reported MEXC’s statement emphasizing that the exchange was “just one of the investors” and also a victim of ZKasino’s decisions.

Meanwhile, both ZKasino and its founder have remained largely silent on the backlash, except for minimal updates and responses to criticisms on X.

Despite the turmoil, Derivatives Monke continues to engage minimally on the platform, indicating a commitment to “keep building,” reflecting a possible attempt to maintain a facade of normalcy amidst the growing controversy.

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Crypto Analyst Credible Crypto Offers Mixed Outlook on Dogecoin: Forecasts Short-Term Decline with Long-Term Rally Potential

Blockchain News/Crypto News Today

The cryptocurrency market has experienced a significant bull run since October 2023, marked by a strong Bitcoin (BTC) rally.

This surge has propelled both old and new meme coins, with many achieving new highs or approaching their previous peaks.

Amidst this upbeat market atmosphere, Dogecoin (DOGE), the first meme coin ever created, has been the subject of many optimistic forecasts suggesting it could soon exceed $1.

However, a prominent crypto analyst known as Credible Crypto on YouTube and CrediBULL Crypto on X has a nuanced view on these bullish predictions.

He recently outlined a strategy for shorting DOGE, signaling a less optimistic short-term outlook for the coin.

According to him, Dogecoin has not yet established a clear uptrend as it lacks consecutive higher highs and higher lows, and seems to be at a distribution top.

Credible Crypto’s analysis suggests that while DOGE’s price might rise for a while, it is expected to reach a critical zone between $0.19 and $0.20, which it will likely fail to maintain.

He plans to take a short position once Dogecoin hits this price range, anticipating a drop to major support levels, likely around $0.09-$0.10, and possibly even as low as $0.05.

Despite his short-term bearish stance, Credible Crypto remains optimistic about the long-term prospects of meme coins, including Dogecoin.

He predicts that the broader crypto market’s current corrections are just part of a cycle that will eventually lead to a ‘meme coin megafinale’ featuring a significant Dogecoin rally above $1.

He suggests that the expected decline to $0.05 could provide an excellent entry point for a long position in anticipation of this rally.

This approach reflects the mixed performance of DOGE, which, while showing significant gains over the past year, has also experienced substantial volatility.

Over the last 52 weeks, Dogecoin has seen an impressive 100.27% increase, with a 77.68% rise in 2024 alone.

However, it has recently faced some resistance, with a notable 8.27% decrease over the past 30 days but remains slightly positive on the weekly chart with a 1.88% increase.

As of today, the price of DOGE stands at $0.1587, having dropped by 0.86% in the last 24 hours.

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