Dogecoin (DOGE) Price Prediction: 330M DOGE Whale Stack Pushes Toward $0.10 as Shorts Liquidate openPR.com
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Dogecoin (DOGE) Price Prediction: 330M DOGE Whale Stack Tests $0.10 Resistance After Apr 17 Push openPR.com
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Dogecoin Surges Over 6% as 330M DOGE Whale Buying Fuels Momentum Coinpaper
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- Open interest in SOL derivatives falls from $3.20B to $2.87B.
- Price faces resistance at 50-day EMA, $150 is key support.
- Polymarket shows 80% odds of Solana ETF approval.
Solana is under pressure as June begins, with its price down 18% over the past three weeks.
The latest trigger came on 30 May, when the US Securities and Exchange Commission (SEC) raised concerns over two proposed staking exchange-traded funds (ETFs) involving Solana and Ethereum.
The agency’s reaction sent a chill through the derivatives market, with total open interest (OI) in Solana futures dropping from $3.20 billion to $2.87 billion.
The funding rate also slipped into negative territory, indicating declining confidence among perpetual traders.
The ETFs in question were proposed by REX Shares and Osprey Funds.
While details of their structures were not fully disclosed, they aimed to provide exposure to staking-based returns through a regulated vehicle.
However, the SEC flagged “unresolved questions” around whether these funds qualify as legitimate investment companies under the Investment Company Act of 1940. The comment came via a filing attributed to Brent J. Fields, Associate Director at the SEC.
Solana faces resistance as bearish momentum builds
Solana was already showing signs of weakness before the SEC announcement.
The token faced consistent resistance near the 50-day exponential moving average (EMA), with prices unable to break past the $160–$170 range throughout the second half of May.
After hitting a high of $187.19 on 20 May, Solana reversed course and fell to $152.83 by the start of June.
On the intraday chart, SOL dropped by 3% as bears gained momentum.
Technical indicators point to further downside risk. The rejection from the 50-day EMA band has confirmed bearish control, with traders eyeing key support zones at $150, $140, and $120.
A sustained break below $150 could see SOL testing its multi-month support levels last seen in Q1 2024.
The derivatives data mirrors this sentiment. Funding rates, which reflect the cost of holding long positions in perpetual futures, turned negative at -0.0044%, down from +0.0033%.
Meanwhile, open interest—a measure of market activity—fell by over 10% within a week.
These changes show that leverage traders are unwinding their long positions amid increased regulatory uncertainty.
SEC staking ETF probe deepens regulatory uncertainty
The SEC’s concerns surrounding staking-based ETFs reflect a broader unease with crypto-native financial instruments entering traditional markets.
Although Ethereum futures ETFs have been approved in the past, no product has yet offered returns tied to staking rewards.
Solana, in particular, poses additional risks due to its more centralised validator set and history of network outages.
By raising objections now, the SEC may be signalling a tougher stance on newer ETF proposals, especially those involving yield-generating protocols.
For Solana, this creates additional headwinds, as any delay or rejection of staking ETFs could limit mainstream adoption and capital inflow.
Traders and analysts have also pointed to the lack of clarity on whether Solana is a security or commodity, a debate that has lingered since 2022.
Despite these short-term roadblocks, the longer-term sentiment appears more positive.
On prediction market platform Polymarket, odds of a Solana ETF approval have climbed to over 80%, suggesting that investors still see eventual regulatory clearance as likely.
However, the timing and scope of such an approval remain uncertain.
Solana’s June outlook hinges on key support levels
With SOL trading below its 50-day EMA and investor appetite dwindling in the derivatives space, much now depends on how the market reacts at key support levels.
A firm defence of the $150 mark could set the stage for a rebound later in the month, especially if broader crypto sentiment improves.
Conversely, failure to hold $150 may lead to further capitulation towards $140 or even $120.
While some on-chain data shows consistent activity within the Solana ecosystem, including growth in decentralised applications and daily transaction counts, price action remains largely dictated by macro and regulatory forces.
The SEC’s latest comments have injected a fresh dose of uncertainty, and for now, market participants appear to be de-risking.
As Solana enters June on a cautious note, its short-term trajectory will likely depend on two fronts—clarity from regulators and a return of speculative interest in high-beta altcoins. Until then, the path of least resistance appears to be downward.
Monero price has recorded an impressive 50% growth spurt out of the blue, but a scam is fuelling the rally. On-chain security expert ZachXBT says a Bitcoin heist and multiple XMR swaps to launder the stolen asset are responsible for the surge.
Monero Price Records 50% Rise In Valuation
While the rest of the cryptocurrency markets recorded modest gains, the Monero price has surged by a remarkable 50% in 24 hours. Data from CoinMarketCap confirmed the XMR rally as prices reached a daily high of $339 over the last day.
XMR’s trading volume mirrored the rise in Monero price to sit at an impressive $254 million within 24 hours. The spike in trading volumes translated to a staggering 380% increase, leaving investors puzzled over the numbers.
On-Chain Analyst Says Bitcoin Theft Triggered The Rally
According to on-chain security expert ZachXBT in an X post, the Monero price rally is not the product of usual market activity. ZachXBT says the rally is the result of a Bitcoin theft and subsequent attempt to launder the assets via the privacy coin.
Per ZachXBT, it all began with a suspicious transaction of 3,520 BTC worth $330.7 million from a potential victim. Minutes after the shady transfers, ZachXBT notes that bad actors began laundering the BTC on exchanges, swapping them for Monero to reduce traceability.
“Shortly after the funds began to be laundered via 6+ instant exchanges were swapped for XMR, causing the XMR price to spike 50%,” said ZachXBT.
ZachXBT noted that the theft address and other on-chain indicators provide further confirmation of a BTC heist. The on-chain security expert notes that the victim is a long-time BTC holder, using Gemini, Coinbase, or River.
Furthermore, the transfer of the funds in small batches to instant exchanges and creating hundreds of orders raises eyebrows. The movement of funds in this manner will trigger losses running into seven figures, pointing to increased scammer activity amid the Monero price spike.
However, ZachXBT clarifies that it is unlikely that North Korea had anything to do with the 3,520 Bitcoin heist. North Korean hackers have been fingered in a malware campaign against developers. He adds that the victim is potentially an OG Bitcoiner with BTC holdings older than 2015.
While Monero price spiked following the incident, Bitcoin price continues to trade sideways at $94,000. A Bitcoin price near $100K has stoked optimism for a bigger rally for the largest cryptocurrency, but macroeconomic uncertainties stand in the way.
The post Monero (XMR) Price Jumps 50% Amid $330M Suspicious Bitcoin Transfer appeared first on CoinGape.
]]>Whales Dump 330M ADA Tokens, Cardano Price Rebounds Strongly The Currency Analytics
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Crypto market saw another sudden market-wide selloff in the early US hours, with more than $30 million liquidated in an hour. Bitcoin price slipped from $63,340 to a low of $61,600, extending the intraday drop to 6%.
Ethereum price also briefly fell below $3,000 amid numerous liquidation orders, triggered by weak sentiment ahead of Bitcoin halving. Other top altcoins including BNB, SOL, XRP, DOGE, TON, ADA, and SHIB witnessed a 2-3% fall in prices within an hour. Solana and Toncoin prices have tumbled 14% and 15% in the last 24 hours.
Why Bitcoin Price Fell Suddenly
The pre-halving correction in Bitcoin price coupled with macro and geopolitical factors pulls down BTC price, with no major buying from whales and large investors.
Coinglass data shows more than $330 million were liquidated across the crypto market amid this strong correction. Of these, $260 million long positions were liquidated and nearly $70 million short positions were liquidated on Tuesday.
Over 109K traders were liquidated and the largest single liquidation order happened on crypto exchange OKX as someone swapped ETH to USD valued at $5.97 million.
Bollinger bands (blue) indicator reveals BTC price is in a downside trend, failing to break above the 20-simple moving average (orange). Ichimoku Cloud shows price continue to move under support and the selling pressure is rising as trend reversed, with the cloud widening.
Also Read: BlackRock Co-founder Predicts Market Comeback
CryptoQuant head of research Julio Moreno joined other experts such as analyst Markus Thielen to express bearish sentiment developing on BTC. “Bitcoin demand growth has slowed down significantly, both from ETFs and other permanent holders,” said Moreno. Bitcoin demand from accumulation addresses and ETFs has faded ahead halving.
Analyst Predicts A Fall to $55K
Popular analyst Michael van de Poppe predicts a $55K level is likely as BTC price holds up on support after a lower timeframe rejection. However, he believes Bitcoin will hold near current levels and start a slow upward momentum. The bearish divergence stays valid as consolidation for the post-halving rally builds up.
The global macroeconomic events caused US dollar index (DXY) to climb above 106.23, continuing to rise higher. Whereas, the US 10-year Treasury yield jumped to a high of 4.663% today on open. As Bitcoin moves opposite to DXY and Treasury yields, a rise in both DXY and 10-yr treasury yield has caused a sudden fall in Bitcoin price below $62k, triggering a crypto market selloff.
Also Read: Ripple Vs SEC Lawsuit — Settlement Debates & XRP Price Fall Concerns
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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