2024-03-08 04:03:05 ET
The crypto market displayed stable momentum as Bitcoin (BTC) climbed towards its all-time highs. The upside steam seems to have cooled, and most tokens stare at slight dips before gathering upward momentum.
Dogecoin (DOGE) seems poised for profit-booking as addresses in profit hit peaks never seen since May 2021.
Ripple’s XRP will likely suffer weekly dips as investors take approximately $370M in profits. Meanwhile, AltSignals (ASI) flourishes as AI-centered trading signals experience surged demand.
Profitable investors might pressure Dogecoin
DOGE changed hands at $0.166 following a 9% uptick over the past day. The altcoin showcased steady bullish momentum over the past month, adding over 500K holders within two weeks.
Meanwhile, most players joined 14 days before Dogecoin price soared, explaining the surging percentage of investors currently in profit.
A massive number of 5.24M wallets are in returns, accounting for 84.75% of all Dogecoin holders.
These Dogecoin investors might decide to withdraw their returns, exerting substantial selling momentum on the meme token.
The last time the Dogecoin holder percentage exceeded 80% was during the May 2021 rally, which saw DOGE balances increasing by 93%.
The following developments saw the token losing 68% of its value within five weeks. The memecoin might repeat history, considering the latest over 95% upswing.
AltSignals ready for the next bull run
ASI maintained bullishness on Friday, hovering at $0.005474 after a 9.3% gain over the past day.
The project has attracted attention lately, with skyrocketed demand for trading signals as bulls rule the markets.
AltSignals mirrored the latest Bitcoin movements, and its focus on artificial intelligence will see ASI exploding amid BTC’s anticipated 2024 rally.
The project plans to capitalize on the ongoing AI boom by integrating natural language processing, predictive modeling, and machine learning to increase the accuracy of its trading signals from the current 65%.
ASI witnesses more adoption ahead of the upcoming bull run. The top crypto data site CoinGecko listed AltSignals on 5 March.
That means investors can now track the alt’s price, enabling them to make informed investment decisions.
XRP on declines amid massive profit-booking
The remittance token traded at $0.6217 on Friday, indicating a 1% dip in the past day. Increased profit-booking activities have triggered the bearish response, and XRP will likely endure weekly losses ahead of the key SEC vs. Ripple deadline .
Santiment data shows XRP investors have withdrawn profits consistently since March started, taking $370 million in the previous week.
Ripple experienced surges in whale transactions and active addresses within the past seven days.
While that could be optimistic or bearish, increased transfers after price hikes, like XRP’s latest action, could indicate potential selling by whales in profit.
The Awesome Oscillator and the Moving Average Convergence Divergence highlight potential declines to sweep the $0.57 support before XRP recovers.
You can find more information about AltSignals on their website .
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