Regarding the recent market, my observations and thoughts: 1. The Federal Reserve and the Bank of Japan's meetings next week are expected events, with the Fed likely to lower rates by 25 basis points and the BOJ delaying rate hikes. Continued rate cuts from the Fed and the BOJ's delay in rate hikes (if indeed implemented) would be favorable for the market (at least excluding the influence of the BOJ). In the crypto market, Bitcoin is consolidating at a high level, while smaller coins are entering a phase of differentiation where the strong get stronger (focusing on strong narratives or main narrative sectors). After Bitcoin's consolidation and adjustment, it seems that a significant catalyst is needed to push prices higher. The recent statement from the Sichuan delegation at the New York Stock Exchange clearly indicates an intention to advance both the U.S. stock market and crypto together. The market has anticipated a loose policy (here referring to industrial policy and regulatory policy), but I wonder how much strength this will have? How significant will the impact be? An unexpectedly strong impact could serve as a catalyst going forward.
It's worth positioning for 3 altcoins that could see a 100x increase in the future! 1. ENS
The creators of Ethereum Name Service (ENS), ENS Labs, are taking significant steps to improve scalability and accessibility. By the end of 2025, they plan to launch Namechain, a second-layer aggregation network designed to make ENS cheaper and more widely available in the second-layer ecosystem. This bold initiative highlights ENS Labs' commitment to innovation in decentralized naming systems that link human-readable names with cryptocurrency addresses.
ENS has consistently attracted attention with its forward-thinking approach. Despite facing challenges in breaking through key resistance levels this year, recent developments indicate it may be on the verge of a turnaround. If the current trend continues, ENS's price could soon see a significant increase.
The token recently experienced significant price volatility. Within 24 hours, it surged by 8.41% to $43.27, but due to weakening momentum, it then fell to $19.22. However, as of December 13, ENS has made significant strides. Over the past month, its price has increased by 154.41%, exceeding the 200-day average by 96.95%. Additionally, trading volume rose by 35.33%, reaching $878.2 million, while its market capitalization reached $1.48 billion, reflecting growing investor interest.
Moreover, the integration of ENS Labs with platforms like Venmo and PayPal is expected to revolutionize cryptocurrency transactions for over 270 million users in the U.S. Through this integration, users can send tokens using simple ENS names (e.g., 'yourname.eth') without complex wallet addresses. By reducing errors and streamlining transactions, ENS makes cryptocurrency transfers more convenient and user-friendly.
2.MKR
As traders prepare for a breakout above the downward trend line, Maker (MKR) is gaining attention. Increased confidence in MKR has sparked interest, and on-chain analysis and technical indicators suggest a positive outlook.
Currently, the trading price of Maker is $2,080.57, up 3% in the last 24 hours, making it one of the best-performing stocks of the day. A close look at the price chart reveals a double bottom pattern, which is a typical bullish reversal signal. With the formation of the second bottom, a price breakout above the neckline could confirm this trend change, opening the door for further gains.
Since April, MKR has faced bearish pressure, but recent performance tells a different story. Over the past month, the price of Maker has soared by 32.52%, while the 24-hour trading volume has increased by 4.34%. The Moving Average Convergence Divergence (MACD) indicator further enhances this optimism, showing an increasing green histogram that highlights rising buying pressure.
Additionally, moving averages support the bullish trend, with the simple moving average (SMA) on the daily chart indicating positive momentum. If this trend continues, MKR's price could test the resistance level of $2,080 over the weekend. On the other hand, if a reversal occurs, the token may drop to its key support level of $1,975.
3. DOGE
Dogecoin (DOGE) is the seventh-ranked cryptocurrency, wielding influence in the market. Its trading price is $0.4038, up 3.04% over the past month. Dogecoin has a total supply of 147.18 billion, with no maximum supply cap, and its circulating supply matches the total available tokens. Its market capitalization is $59.43 billion, recently growing by 2.06%. Meanwhile, the 24-hour trading volume is $4.31 billion, accounting for 7.42% of its market cap.
In the past year, Dogecoin has grown by 315%. It has outperformed 83% of the top 100 cryptocurrencies, including Bitcoin and Ethereum. Its trading price is 97.32% higher than the 200-day simple moving average of 0.204641. This indicates a sustained bullish momentum. Additionally, Dogecoin has shown stability, recording positive returns on 17 out of the past 30 days, which equates to 57%.
The market sentiment for DOGE remains neutral. However, the Fear and Greed Index stands at 76, indicating 'Extreme Greed'. Its liquidity is comparable to its market capitalization, making it available for trading.
