Let me guess, you don’t already know? DOGE Day is that glorious occasion celebrated every April 20 (because, obviously, it’s also 4/20 — wink, wink) to honor Dogecoin. Initially started as a way to push DOGE to the $1 mark back in 2021 (lol, we tried), it’s now an annual tradition full of memes, online drama, and, most importantly, speculative trading — because why not?
Of course, as is customary, he acknowledged the little “hiccups” along the way, namely the ongoing U.S.-China trade dispute. But fear not, for in the magical land of Hoskinson’s mind, these issues will soon evaporate like morning mist under a rising sun. And with it, investor confidence will soar, and the markets will calm down faster than a caffeinated squirrel on a sugar rush.
The lower timeframe chart reveals that a pullback to $0.67 is a possibility, but it also displays a battlefield where traders are locking horns over key support/resistance levels. The drama!
Enter the oracle Timothy Peterson, casting his gaze upon the US High Yield Index Effective Yield soaring beyond 8%. “Since 2010,” he intones, “38 such episodes have flickered across the financial firmament.” Of these, Bitcoin has soared 71% of the time three months after—a median blossoming of 31%, yet not without the shadow of a 16% plunge to remind us of fate’s cruelty. Thus, in his somber prediction, Bitcoin shall wander a rugged path between $75,000 and $138,000 in the coming quarter. Fools rush in where angels fear to trade!
On April 18, the blockchain Sherlocks at Santiment uncovered the cryptic behavior of these crypto behemoths. Despite all the usual market jitterbugs, the whales, clutching anywhere from 10 to a whopping 10,000 BTC each, have been steadily gathering 53,600 Bitcoin since March 22. That means they now control about 68% of all Bitcoin like a toddler controls the TV remote — with absolute, unrelenting grip.
Our crypto clairvoyant Ali reports that a whopping 72.13% of Binance traders are long on Dogecoin futures. Meanwhile, only 27.87% are clinging to their short positions like it’s their last hope. Surf, another analyst probably working from a seaside bungalow, sees a volatile chart pattern — which is his polite way of saying “hold on to your hats.”
Volume jumped 16.31%, reaching a cool $118.4 million, which is basically like everyone showing up to the party but no one saying who invited the seller.
On the surface, XRP continues to dazzle with a 307% leap from its Election Day opening price. Quite the spectacle, wouldn’t you say? 👏
In the red corner, we have Jerome Powell, stoically guarding the Federal Reserve against the whims of political impulse, like a grumpy bouncer at the club of economic stability. In the blue corner, the President who might just rewrite the playbook—or the rulebook entirely—by firing him. Kevin Hassett, the White House’s economic equivalent of a hype man, says they’re “actively reviewing” this very fever dream. Traditions? Independence? Pfft. Who needs those when West Wing meets Wall Street? 🥊
And yet, the seemingly small dip in Bitcoin’s value is but a fleeting moment in the grand and tumultuous drama of the market. Underneath the surface, darker signs are starting to emerge, suggesting the dreaded crypto winter might be upon us. Don’t you just love a bit of impending doom?