Dogecoin Rockets 22% in Two Weeks, Could Hit $0.1 This Week!

• Dogecoin (DOGE) has seen explosive growth in the past 14 days, increasing in value 22.2% to $0.088.
• Other popular meme coins have also seen a surge in value, with the total market capitalization of meme coins reaching $19 billion.
• Dogecoin is sitting on top of robust support at $0.0847 and is likely to continue its uptrend and hit prices above $0.1.

Dogecoin (DOGE) has been on a bullish run in the past two weeks, with its price increasing by 22.2% to $0.088 at the time of writing. This growth in DOGE’s price has been propelled by the increasing popularity of meme coins, with their total market capitalization hitting a whopping $19 billion.

Out of all the meme coins in the market, Dogecoin is the clear leader, with its market capitalization standing at $11.8 billion. Other popular meme coins include Shiba Inu, which has seen a 15.4% surge in the past 24 hours, bringing its market cap to $7.1 billion. Other top meme coins include Dogelon Mars, FLOKI, Kishu Inu, Shiba Predator, Hoge Finance, and Tamadoge (TAMA). While Dogelon Mars has seen a 15.7% increase in value in the past seven days, FLOKI, Kishu Inu, Shiba Predator, and Hoge Finance have all seen increases of 27%, 28.2%, 20%, and 31% respectively in the same period. Tamadoge (TAMA) has also had a good run, with its price increasing 6.6% in a week to trade at $0.0143.

The excitement for Dogecoin and other meme coins is likely to continue, with DOGE in particular sitting on top of robust support at $0.0847. This support has been reinforced by the 200-day Exponential Moving Average (EMA) (in purple). Just below this level is confluence support created by the 100-say EMA (in blue) and the 50-day EMA (in red) at $0.0806. The immediate downside of Dogecoin is also home to a critical falling trend line. All these support areas emphasize DOGE’s undeniable ability to continue with the uptrend and hit prices above $0.1. The Moving Average Convergence Divergence (MACD) indicator is also in a bullish crossover, indicating that prices could soon break out of the falling trend line and hit the resistance at $0.095.

It is likely that Dogecoin, and by extension other meme coins, will remain in the spotlight for the coming weeks. With the current support levels and bullish indicators, Dogecoin seems to be on track to obliterate one zero and close the week above $0.1.


Institutions Urged to Allocate Crypto Assets: Bernstein Predicts $400B Opportunity

• Brokerage firm Bernstein has advised institutions to start allocating crypto assets rather than adopt a “zero crypto allocation” strategy.
• The analysts at Bernstein expect institutional services‘ opportunity to reach a staggering $30 billion by 2033, a compound annual growth rate of 37%.
• Bernstein predicts that the cumulative crypto revenue will increase by sixteen fold in the next 10 years, from around $25 billion in 2023 to about $400 billion by 2033.

Brokerage firm Bernstein has offered advice to institutional investors, urging them to give up their “zero crypto allocation” strategy and start allocating crypto assets. According to a research report released by the asset manager on Monday, the development of cryptocurrencies is transitioning from a fat infrastructure thesis to a fat application thesis in 2023, paving the way for a decade-long “golden age” of innovation in the crypto space.

The report argued that 2023 will represent the ideal time for institutions to establish their crypto strategies. “Get off zero crypto allocation. For institutional investors with no allocation to crypto, 2023 might be the best time to start placing the building blocks for a long-term strategy,” Bernstein said.

Analysts Gautam Chhugani and Manas Agrawal of Bernstein noted that retail traders have been the primary drivers of crypto development thus far. Going forward, however, they anticipate that growth will be propelled by institutional investors who are participating in on-shore regulated structures. Consequently, the analysts believe there will be “massive opportunities” for institutional capital to flow into industries such as custody, market making, and prime broking.

Chhugani and Agrawal forecast that institutional services’ opportunity will reach a whopping $30 billion by 2033, with a compound annual growth rate of 37%. They predict that crypto-related custody solutions will become an $8 billion market, with market making and prime broking achieving $8 billion and $14 billion, respectively. Moreover, Bernstein anticipates that the cumulative crypto revenue will skyrocket sixteen fold in the next 10 years, from around $25 billion in 2023 to approximately $400 billion by 2033.

The asset manager concluded that with institutional capital set to take the driver’s seat in the crypto space, the industry is preparing to enter a new era of innovation. “As institutional investors move into the ecosystem, we expect a ‚golden age‘ of crypto applications to start in 2023 and last for the next decade. We are entering the era of ‚fat applications‘,” the report concluded.


Cryptocurrency: Magical Thinking or Financial Risk?

• Cryptocurrencies may be a manifestation of „magical thinking“ born out of a financial crisis.
• Mistakes and mediocrities made during a period of declining and zero-interest rates were obscured or forgiven, and speculative assets with low probabilities of far-off success inflated in value enormously.
• There are hawkers pitching shiny new vehicles, such as stablecoins and new ways of taking companies public without the usual regulatory scrutiny, promising greater returns while dismissing greater risks.

Cryptocurrencies have become an increasingly popular way to invest money, but this could be due to a form of „magical thinking“ born out of a financial crisis. Mihir A. Desai, a professor at Harvard Business School and Harvard Law School, wrote an opinion for The New York Times, stating that all of the new investors and crypto owners may have a grudge against capitalism, rather than understanding the world they were born into. Desai pointed out that during a period of declining and zero-interest rates, mistakes and mediocrities were obscured or forgiven and speculative assets with low probabilities of far-off success inflated in value enormously. This led to hawkers pitching shiny new vehicles, such as stablecoins and new ways of taking companies public without the usual regulatory scrutiny, that promised greater returns while dismissing greater risks.

Desai argued that this is a hallmark of the ignorance of trade-offs in magical thinking. He believes that investors should be more aware of the risks that come with investing in digital currencies, as well as the potential of them to be manipulated by those who are in control of the market. Despite the potential for disaster, Desai believes that the world of cryptocurrency is here to stay and that it is important for investors to be aware of the potential for financial losses. He concluded by stating that it is important to remember that the financial crisis is still present, with all its flaws and cracks, and that investing in cryptocurrencies or any other asset should be done with caution.