TL;DR

• DOGE is down

• SHIB is down

• Pepe Memecoin Hits All-Time High, Surpasses Uniswap in Market Cap

• BONK Price Prediction: A Bullish Pattern Amidst Market Challenges

• Meme Coins Rally as GameStop Trader Keith Gill Returns to X

• HAWK Launch Sparks Legal Concerns Amid Allegations of Misconduct

• Coffeezilla Challenges Misleading Headlines About Hawk Tuah Memecoin

• FCA Blocks Pump.fun, Citing Unauthorized Operations in the UK

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Dogecoin Price

Crypto is up this week, with DOGE being down 1.93% and SHIB down 8.77%:

Dogecoin (DOGE) Weekly Update

Dogecoin faced a volatile week, with its price standing at $0.4064, reflecting an 8.92% drop over the last 24 hours. Despite this, market sentiment remains mixed, as bullish momentum earlier in the week attempted to push DOGE above $0.48 on December 8, only to encounter resistance from sellers. The live market capitalization is $59.78 billion, supported by a circulating supply of 147.10 billion DOGE and a maximum cap of 147.14 billion DOGE. Trading volumes remain strong, with a 24-hour volume of $12.32 billion indicating persistent investor interest.

DOGE’s price action is influenced by broader market trends and technical indicators. The upsloping 20-day EMA ($0.41) and the RSI in the positive zone suggest that bulls are still attempting to maintain control, positioning the path of least resistance toward the upside. However, near-term downward pressure has tempered optimism, as the price dipped below key levels after a failed breakout attempt.

DOGE Market Analysis

Dogecoin has been trading within a rising channel, and a successful push above $0.48 could signal a rally to $0.60, as per recent technical patterns. The 20-day EMA's bullish slope offers support to the price action, but failure to sustain these levels could lead to a downward acceleration, pulling DOGE to as low as $0.33.

On a short-term outlook, support remains critical at $0.41, with resistance firmly set at $0.48. A break below the channel's support line could trigger selling pressure, while sustained bullish momentum could position Dogecoin for higher highs.

Expected Trading Ranges

• Support: $0.41

• Resistance: $0.48

Market Outlook

Dogecoin continues to attract significant trading activity, showcasing its relevance in the cryptocurrency space. While current bearish sentiment has momentarily dampened enthusiasm, strong trading volume and a bullish technical setup indicate potential for recovery. Investors should closely watch key support and resistance levels, as any breakout or breakdown could determine DOGE’s trajectory in the coming weeks.

Financial News

Pepe Memecoin Hits All-Time High, Surpasses Uniswap in Market Cap

Pepe, the frog-themed memecoin, has achieved a significant milestone by overtaking Uniswap (UNI) in market capitalization. As of December 7, Pepe boasts a market cap of over $11 billion, compared to UNI’s $10.6 billion, marking an all-time high for the token. This surge represents an 18x growth from its market cap of $591 million at the beginning of 2024. In the past week alone, Pepe has climbed 26%, with a 16.8% gain in the last 24 hours. Its rise reflects growing interest from memecoin traders and market speculators, bolstered by Binance.US's recent decision to list the token on December 5.

Since its launch in 2023, Pepe has become a formidable competitor in the memecoin space, gaining over 7,000% since its inception. After months of price consolidation, the token began a historic rally in November, pushing past previous highs and securing its position as one of the top 20 cryptocurrencies by market cap. Despite having "no intrinsic value," Pepe has captured the attention of investors drawn to the speculative nature of memecoins, positioning it as a major player in the ongoing memecoin narrative.

BONK Price Prediction: A Bullish Pattern Amidst Market Challenges

BONK, the second-largest memecoin on the Solana blockchain, has shown promising signs of recovery despite recent market downtrends. Following a 4% drop in price and a 40% decrease in trading volumes, BONK formed a double-bottom pattern on its one-day chart—a classic signal of a bullish reversal. This pattern, with resistance at $0.000046, suggests that if BONK breaks through this level, it could ignite a rally surpassing its November 2024 all-time high (ATH) of $0.0000623. Technical indicators like the Money Flow Index (MFI), which indicates high buying pressure and rising capital inflows, reinforce the possibility of an uptrend. However, fading momentum in derivative markets highlights the need for renewed speculative activity to sustain these gains.

In derivatives trading, BONK’s open interest has dropped significantly, from $64 million to $26 million over the past three weeks, reflecting reduced market participation. The memecoin faces a critical juncture: either breach its current resistance to rally past its ATH or fall below its support level at $0.000040, invalidating the bullish trend. Despite these challenges, BONK remains a contender to regain its position as Solana’s top memecoin, potentially surpassing Dogwifhat (WIF) in market cap if it can sustain a strong rally into 2025.

Dogecoin: Testing Support for a Potential Bull Rally

Dogecoin (DOGE) experienced a 5% price drop in the last 24 hours, trading at $0.443 with a market capitalization of over $65.3 billion. Despite this, the decline could signify a bullish setup, as DOGE recently broke out of a symmetrical triangle pattern, indicating potential for an uptrend. This price correction may be testing the upper trendline support of the pattern, with a successful test paving the way for a fresh rally. Key metrics such as the Fear and Greed Index, currently at 37%, suggest a possible bullish reversal, though bearish sentiment persists with a declining long-short ratio and stagnant velocity.

To initiate a sustained rally, DOGE must surpass the $0.46 resistance level, potentially propelling it toward its all-time high. However, bearish factors like high open interest and dominant short positions hint at continued price pressure. An altcoin season could bolster DOGE’s chances of reaching a new peak, though failure to maintain current support might result in a decline to $0.36. The coming weeks will be pivotal for the memecoin’s trajectory.

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