Dogecoin Price Continuation Shows Rebound, But Resistance Is Mounting At $0.205

On May 9, blockchain monitoring firm Whale Alert identified a massive transfer of 29,532,534 XRP, worth $69,536,183, to leading U.S.-based crypto exchange Coinbase.

This large transaction has raised eyebrows as it coincides with the ongoing bull market run, prompting investors to closely monitor on-chain activities.

Whales already dumping?

According to the data, the massive transfer was executed by an unknown wallet address in a single transaction, suggesting a possible sell-off attempt.

Although the exact motive behind the transaction remains unclear, it has sparked concern within the XRP community, especially as it aligns with a period of bullish momentum for the token.

Despite the transfer, XRP continues to exhibit strong bullish indicators. Over the past 24 hours, CoinMarketCap data shows that XRP has experienced a 3% daily surge, following an 8% gain the day prior. As of press time, XRP is trading at $2.35.

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In addition to the price uptick, XRP has also recorded a 60.35% surge in trading volume, reflecting heightened activity among both retail and institutional traders.

While large transfers to exchanges are often associated with intent to sell, this specific transfer has the XRP community questioning whether whales are starting to take profits after the recent bull run.

What next for XRP?

XRP’s current positive price trend has fueled investor optimism, with expectations that the token could reach the $3 mark soon. Longer-term, some believe XRP could hit a new all-time high (ATH) before the onset of the next bear cycle.

However, if large holders begin to sell off holdings, this could stall XRP’s bullish trajectory. Whale profit-taking can lead to a spike in supply, outpacing demand and potentially driving prices down.

Such actions might also trigger panic selling among smaller, less experienced investors, leading to further downward pressure on the token’s price.

The newly launched DOOD token from Ethereum-based NFT project Doodles has seen a steep drop in market capitalization following its May 9 airdrop on the Solana network.

According to data from DEX Screener, DOOD’s market cap fell from over $100 million shortly after launch to around $60 million at the time of writing.

Overall, the much-anticipated airdrop was “[d]efinitely underwhelming,” a crypto commentator said in a May 9 X post.

Metaplex (MPLX) is holding a community vote on Proposal #17 from May 30 to June 5, 2025. Votes about changes or upgrades can be important for price, depending on what the proposal is. If the community supports big changes that help the project, MPLX could gain attention and price could rise. On the other hand, if the news is not exciting or causes worry, it may not help the price. The outcome and community mood are key. Follow updates about the proposal here.

Space and Time (SXT) will be listed on Bitrue exchange with SXT/USDT trading starting May 12, 2025. Token listings on new exchanges often help prices because more people can buy the token. Listing on Bitrue means new users and higher liquidity. Sometimes, prices move up before the listing as traders buy in early, but there can also be selling after. Bitrue’s user rewards could attract even more interest. Overall, this event could be a positive price driver in the short term. Read more here.

Casper Network will hold an AMA with KuCoin on Twitter Spaces, talking about Casper 2.0 on May 12, 2025. Such events can be good for price because more people hear about the project and new upgrades are shared. If the team shares big news or important updates, there could be strong buying. However, AMAs sometimes do not lead to big moves unless something unexpected is announced. Watch trading volumes around this time for signs of interest. KuCoin’s large user base also helps to bring attention. See details here.

Key Takeaways:

• Solana's 15% surge and potential close above the 50-week EMA signal strong bullish momentum, which previously led to a 515% rally in 2024.

• The $120 million in liquidity bridged to Solana reflects growing network confidence.

Solana (SOL) price gained 18% this week, signaling rising bullish momentum. The altcoin is approaching a pivotal point, with a potential close above the 50-week exponential moving average (EMA), a level that has historically catalyzed significant rallies.

In March, SOL dipped below the 50-week EMA and briefly dropped under $100 on April 7. Since then, Solana has staged a strong recovery, reclaiming key EMA levels (100W and 200W), with the 50-week EMA (blue line) now in focus.