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Title: Avalanche (AVAX) and Dogecoin (DOGE): A Double-Sided Shift in the Crypto Market
The cryptocurrency market is witnessing a significant shift, with two assets, Avalanche (AVAX) and Dogecoin (DOGE), taking center stage. In this article, we will delve into the current market trends surrounding both tokens and explore the implications of these developments.
Avalanche (AVAX): A Potential Rebound
After a recent plunge, AVAX has found support at $15-$17 levels. The Point of Control remains at $18.70, which is crucial for bulls to hold their ground. If they succeed in pushing past the resistance level of $18.24, AVAX could potentially aim for $19-$20. Furthermore, the liquidation map indicates a tilt towards long positions, suggesting that upward movement may be more likely.
However, we should proceed with caution as the current price action suggests a wait-and-watch mode. The market’s next move will depend on how well support holds in the coming weeks.
Dogecoin (DOGE): A Game-Changer
In a surprising turn of events, 21Shares has filed for a U.S. spot Dogecoin ETF, marking a significant milestone for the token. This development comes as a result of recent SEC guidance stating that meme coins like DOGE are not considered securities.
The implications of this filing cannot be overstated. The partnership between 21Shares and the Dogecoin Foundation’s business arm, House of Doge, gives them an unprecedented advantage over other applicants. Grayscale and Bitwise, two prominent players in the crypto space, will need to catch up with this new development.
Moreover, DOGE could now transition from being a meme coin to a serious Wall Street asset, as institutional participation becomes more feasible.
The Convergence of Two Market Trends
As we navigate these shifting market dynamics, it’s essential to stay informed and adaptable. In the coming weeks, both AVAX and DOGE will be closely monitored for potential price movements.
On one hand, AVAX may be carving out a stable range between $15 and $17, offering a possible recovery path. On the other hand, DOGE is poised to enter a new era with institutional participation on the horizon.
As we continue to track these market trends, it’s crucial to recognize that there are more factors at play than just chart patterns and ETF filings. BlockDAG, for instance, offers an exclusive 600% bonus offer, transforming $1,000 into $7,000 instantly.
Stay ahead of the curve by following this and other groundbreaking developments in the crypto space.
Source: https://cryptonewsland.com/avax-finds-support-doges-etf-filing-surprises-markets-altcoins-600-bonus-offer-turns-1k-into-7k-instantly/
