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The cryptocurrency market witnessed a major carnage. A majority of cryptocurrencies dipped during the weekend. Dogecoin (DOGE), the OG meme cryptocurrency was one of the biggest losers of the day with a double-digit drop. While several were diving deep into the reason behind this fall a few others were wondering if DOGE still has the potential to reach $1 this month. Also Read: BRICS: 2 Countries Officially Agree To Ditch the US Dollar For Trade Dogecoin’s 24% Downfall Source: Watcher Guru The largest meme coin encountered a loss of nearly 24% over the past 24 hours. DOGE was trading at a high of $0.3061 earlier today and went on to fall to a low of $0.2117. During the time of writing, Dogecoin was trading at $0.2307. Amidst this, the trading volume of the meme coin surged by 349% pushing the final value to $9.59 billion. Considering the path that DOGE is currently taking, this could mean increased selling pressure in the market. Source: CoinMarketCap Also Read: What is the Ripple...

On December 17, 2024, Igloo, the digital asset incubation studio, and the team behind the popular pudgy penguins non-fungible token collection, launched its highly anticipated native token $PENGU on Binance, one of the largest cryptocurrency exchanges. Unfortunately, the Pudgy Penguins’ NFT coin $PENGU is down more than 30% several hours after launch. In this article, we shall explore what went wrong. Pudgy Penguins NFT Coin ‘$PENGU’ Explained Data compiled by CoinMarketCap.com, an on-chain cryptocurrency market data aggregator and non-fungible token explorer, shows that the Pudgy Penguins’ NFT coin $PENGU is down over 30% from its initial all-time high. $PENGU successfully launched on the Binance crypto exchange on December 17.2024 at around 5.00 ECT and rapidly rose from $0.0003375 to $0.05063. Unfortunately, the $PENGU price began dropping several hours later, dropping from $0.05063 to $0.02976. At the time of publishing, the $PENGU price is finding suppor...

The co-founders of the crypto analytics firm Glassnode are outlining two key conditions that could spark altcoin rallies just in time for Christmas. Jan Happel and Yann Allemann, who go by the handle Negentropic on the social media platform X, tell their 63,300 followers that altcoins could be on the verge of outperforming Bitcoin (BTC) in the next two weeks. The Glassnode co-founders are looking at the Bitcoin Dominance (BTC.D) chart, which tracks the percentage of the total crypto market cap that belongs to Bitcoin. The duo shares a chart suggesting that BTC.D has flipped bearish, opening the doors for altcoins to rise faster in value than Bitcoin. “Bitcoin dominance has been rejected at the upward trendline – is this the setup for a Christmas rally in altcoins? For this to happen: Bitcoin needs to consolidate above $100,000. A period of sideways movement could allow altcoins to gear up for a breakout. The second half of December and year-end could brin...