Dogecoin’s Dozen Years: King Of Meme Coins Marks 12th Birthday In Rough Markets

Twenty One Capital opened lower on its debut on the New York Stock Exchange (NYSE) as investors assessed its Bitcoin treasury model, which includes a significant holding of 43,500 BTC valued at approximately $4.5 billion. This debut follows a merger with Cantor Equity Partners and comes amidst concerns about potential sell-offs in the cryptocurrency market.

Dogecoin (DOGE) has stabilized above a key support level around $0.14, marking a period of consolidation as market participants assess technical indicators and adoption trends. Despite a muted response to its 12th anniversary, network activity has surged, with daily active addresses exceeding 67,000, reflecting increased engagement within the community.

The number of Bitcoin addresses holding over 0.1 BTC has not increased in the past two years, breaking a long-standing trend of growth that persisted through various market cycles. This stagnation suggests a shift in the engagement of smaller and mid-sized investors with Bitcoin, even as institutional interest in the cryptocurrency market continues to rise.

A prominent crypto investor has made headlines by selling all of his Bitcoin holdings, which he initially purchased at $3,000, to invest entirely in XRP. This decision comes amid a turbulent market where Bitcoin's price has dropped significantly, while XRP is also facing a downturn, with recent reports indicating a negative shift in social sentiment towards the token.

Standard Chartered and Bernstein have revised their Bitcoin price targets, with Standard Chartered lowering its forecast to $100,000 by year-end, while Bernstein maintains a long-term bullish outlook, predicting Bitcoin could reach $1 million by 2033. This adjustment comes amid recent declines in Bitcoin's price and ETF outflows, reflecting shifting institutional demand.

Bitcoin and Ethereum have shown positive price movements as traders anticipate an interest rate decision from the Federal Reserve, with Bitcoin recently trading above $94,000. This comes after a period of volatility where crypto prices generally react favorably to rate cuts, although the current market dynamics are complex.

A new Bitcoin ETF proposal named 'AfterDark' aims to capitalize on the observation that Bitcoin gains predominantly occur outside of regular U.S. trading hours. This fund would exclusively hold Bitcoin overnight, potentially offering investors a unique opportunity to benefit from after-hours price movements.

A new ETF proposal suggests that Bitcoin returns may be more favorable during after-hours trading, according to ETF analyst Eric Balchunas. This investment vehicle could potentially yield better returns based on the price movements of Bitcoin outside regular trading hours.