Funds Exit 4 Weeks in a Row, Why Dogecoin Soared

Digital Asset Funds See Exit
Coinshares’ Digital Asset Funds report saw outflows of $6.5 million last week. This was the end of a 4-week series of fund inflows. During this period, a total inflow of 742 million dollars was realized into sovereign wealth funds. Bitcoin saw outflows of $13 million, with 5.5 million in Short Bitcoin funds and $13 million in Short Bitcoin funds. week after week. Ethereum assets saw 6.6 million inflows during this period. Ethereum, the product group with the weakest performance this year, is slowly starting to turn around.

Whale Movements in Ripple
In XRP, which experienced a great movement with the outcome of the lawsuit, it was seen that the volumes also grew considerably. In this process, the number of whales holding over 100 million tokens in XRP reached 199, reaching a 3-month high. Demand for XRP during the week of the lawsuit was very high and XRP volume was 21% of the entire market volume during that week and 1. we remember that he was next in line. It was also seen that the open position data in XRP reached a 2-year high and reached 1.2 billion dollars. XRP is currently seeing some selling pressure due to the uncertainty surrounding the SEC’s court challenge.

Why Dogecoin Soared?
Twitter owner Elon Musk recently announced that the platform, which has been serving as Twitter for nearly 15 years, will change its name by rebranding and will be called X. While many claims were made afterwards, Elon Musk’s putting the ?Ð symbol on his Twitter profile brought to mind the question of whether Twitter-Dogecoin integration is coming. While there is no official statement on this issue yet, Dogecoin was one of the rare coins that managed to diverge positively in the market yesterday.

Worldcoin Evaluation by Vitalik Buterin
Worldcoin, which started to be listed in the market yesterday, was the most remarkable event of yesterday. Worldcoin, which realized a very significant rise with its listing, rose over 1000%. In Worldcoin, co-founded by Sam Altman, the CEO of OpenAI, it is known that people who join the project and agree to have their eyes scanned (proof-of-personhood) are registered in the system. Vitalik Buterin stated that there are 4 major risks related to the project and that there may be problems under the titles of privacy, access, centrality and security.

Bitcoin is priced at $ 29,135 with a 0.14% loss in value as of today morning hours. We see that the volume in Bitcoin, which ended the channel movement with the downward breakout yesterday, has fallen well and this breakout occurred with an above-average volume. Bitcoin, which has fallen to its 50-day moving average with the decline, does not seem to have any buying power, although it has stayed here for now. Macroeconomic data and balance sheets this week will have a significant impact on Bitcoin pricing.

ETH, which lost 0.12% as of morning hours, is priced at $ 1852. In Ethereum, it fell to 1845, which was the channel support in 4 hours, and then saw a reaction from here and started to rise. In Ethereum, we can also say that we have fallen below the 50 and 100-day moving averages, so if the 1845 level breaks, we can say that the 1785 level is the first support zone that stands out. If Ethereum can break the 50 and 100-day MAs, our next target level will be the 1900 region.

DOGE, which gained 4.12% as of morning hours, is priced at $ 0.07657. DOGE is testing the resistance level of the channel movement. We see that the rising channel movement realized since the beginning of June has not been broken in the attempts for 2 days. Although Doge may break this zone, the long-term resistance level of 0.082 will be our primary target level. We can also say that the 200-day moving average, which it broke upwards during its rise, can also work as support in retracements.