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#dogwifhat Dogwifhat Price Forecast: WIF Faces Critical Resistance Around $1, Is $2 Possible This Month? Dogwifhat (WIF) has once again climbed to the top of the meme coin leaderboard after gaining 182.5% in the past month. Solana meme coins have been favored during what seems to be the beginning of a new bullish cycle and WIF has emerged as one of the biggest winners. A short squeeze could be the main cause for this significant uptick as the market was too heavily one-sided by the end of April. Meme coins like WIF and Pudgy Penguins (PENGU), whose price has nearly tripled in the past 30 days, were the primary targets of short sellers this year. As prices climbed, thousands of short orders were blown up in the process, triggering some frantic buying pressure on the most heavily sold tokens like WIF.

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#Ehterium Is This the Reason Behind Ethereum’s Big Rally? A $500 Million ETH Purchase Is on the Table London-based asset management firm Abraxas Capital purchased nearly $500 million worth of Ethereum (ETH) in just six days, according to on-chain data. According to a post by on-chain analytics platform Lookonchain based on Arkham Intelligence data, the company has acquired an additional 33,482 ETH (approximately $84.7 million) in the last 12 hours, bringing the total to 211,030 ETH (approximately $477.6 million). Lookonchain also stated that Abraxas Capital borrowed 240 million USDT via Aave prior to these acquisitions and deposited these funds into Binance. Presto Research analyst Min Jung said, “ETH had lagged behind BTC throughout the year. However, we see some confidence returning after the Pectra update. The ETH/BTC parity had fallen 40 percent since the beginning of the year to 0.02 levels, and it is not surprising that buyers stepped in at these levels.”

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#Xrp🔥🔥 What to Expect for XRP Prices in the Coming Days? “Strong Price Movement…” Cryptocurrency analysis company CryptoQuant drew attention to the XRP market in its latest assessment. According to the company's analysis based on Binance futures data, speculative movements in XRP are increasing again. It was stated that this situation could be a harbinger of a strong price movement. XRP’s open interest volume once reached an all-time high of $1.5 billion. However, this figure has since fallen to $530 million, causing leveraged positions to be liquidated. According to CryptoQuant, open interest volume has been increasing again in recent days, indicating a revival of trader interest and the market could see higher volatility. Another important indicator in the report, the funding rate, is critical in terms of analyzing the direction in the market. The funding rate, which turned negative during the correction process, indicated that excessive short positions were opened and a potential short squeeze was prepared. Currently, the rate is at a neutral level, which reveals a balance between buyers and sellers. However, the decrease in the funding rate while short positions are increasing behind the scenes suggests that there is upward pressure on the XRP price and a mild short squeeze is ongoing. On the other hand, according to analysts, the Taker Buy/Sell ratio on Binance is at 0.91. This shows that there is strong selling pressure in the market. CryptoQuant states that retail investors are aggressively opening short positions, while the price remains strong and the selling pressure is absorbed in the market. This situation is considered as a preliminary signal of a possible rise.

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