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Dogecoin jumps 18% as trade deal boosts crypto market activity

  • The US-UK trade deal lifted investor sentiment across digital assets.
  • At the time of writing on Friday, DOGE was trading at approximately $0.206.
  • Open Interest rose 18% to $2.17 billion, driven by long positions.

Dogecoin (DOGE) surged 18% this week, reclaiming the $0.20 mark after breaking above key technical levels on Thursday.

The rally follows a new trade agreement signed between the United States and the United Kingdom, which triggered bullish momentum across the crypto market.

DOGE’s upward move mirrors broader investor optimism, with market-wide recoveries helping it clear the 50-day and 100-day exponential moving averages (EMAs), historically strong resistance zones for the meme coin.

At the time of writing on Friday, DOGE was trading at approximately $0.206, having established a support base above $0.20.

The renewed interest was accompanied by a sharp rise in trading volume and derivatives activity, suggesting increased participation from institutional and retail traders.

Source: CoinMarketCap

$13 million in liquidations

Dogecoin’s rally sparked a wave of liquidations in the futures market, with approximately $13 million worth of positions wiped out in the past 24 hours.

According to Coinglass data, short liquidations made up the majority at $11.3 million, while longs accounted for just $1.6 million.

This imbalance indicates a textbook short squeeze, where a sharp price increase forces traders with bearish positions to exit rapidly, pushing prices even higher in the process.

Open Interest (OI) in DOGE futures also jumped by 18% to $2.17 billion, a sign of growing trader appetite.

The surge in OI, particularly from long positions, suggests market participants are positioning for further upside.

Binance’s long-to-short ratio of 2.4602 reinforces this trend, showing more traders betting on DOGE to move higher.

Volume activity added to the bullish confirmation. DOGE’s 24-hour trading volume spiked 74.49% to reach $4.5 billion, with elevated volume during an uptrend generally viewed as a confirmation of momentum strength.

Inverse head and shoulders targets $0.24 breakout

Dogecoin has broken out from a classic inverse head and shoulders formation, often seen as a bullish reversal signal.

The structure, observed on the daily chart, projects a potential 33% move from the breakout level, which puts the next price target at around $0.24.

The projection is based on the pattern’s height measured from the head to the neckline and applied above the breakout point.

Currently, DOGE is attempting to stabilise above the 100-day EMA at $0.20.

If this support holds, the bullish momentum is likely to continue into the next sessions.

The MACD indicator also shows positive divergence, with green histogram bars above the centreline pointing to increasing upward pressure.

However, traders should remain cautious. The RSI has reached 70.31, entering the overbought zone.

While this does not immediately signal a reversal, it often precedes short-term corrections.

Should DOGE retreat from current levels, the 50-day EMA at $0.18 may serve as a key support and re-entry zone.

The post Dogecoin jumps 18% as trade deal boosts crypto market activity appeared first on CoinJournal.

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Steak ‘n Shake to start accepting Bitcoin at over 300 outlets in US from May 16

  • All 300+ US locations included in launch. Starbucks.
  • Chipotle use fiat-converted crypto.
  • Venezuela and El Salvador show mixed results.

Bitcoin is about to face one of its most practical tests yet.

American fast-food chain Steak ‘n Shake announced that it will begin accepting the world’s largest cryptocurrency at all of its US locations starting 16 May.

With more than 300 outlets and over 100 million customers annually, the rollout positions Steak ‘n Shake as a major player in the push to normalise crypto in everyday transactions.

The decision also comes at a time when mainstream retailers are under pressure to modernise payment systems.

For Bitcoin, long seen more as a store of value than a spendable currency, the partnership presents a real-world opportunity to demonstrate its utility—particularly in a low-margin, high-speed retail setting that will challenge its scalability and efficiency.

Thin margins, high volume

Fast food chains rely on speed, volume, and efficiency to remain profitable.

Unlike high-end retail, where large margins allow room to experiment with alternative payment methods, companies like Steak ‘n Shake must ensure any system change is reliable and cost-effective.

Bitcoin’s integration, therefore, becomes more than a gimmick—it is a stress test for how well the cryptocurrency can perform under retail pressure.

The announcement was teased in March with a post on X (formerly Twitter), where Steak ‘n Shake asked followers whether it should accept Bitcoin. That post drew attention from high-profile figures, including former Twitter CEO Jack Dorsey.

The company followed up with crypto-themed marketing, including a tweet referencing Elon Musk’s Mars ambitions and Robert F. Kennedy Jr.’s vocal support for both Bitcoin and beef tallow.

Past attempts and pilots

The upcoming rollout differs from earlier, limited experiments by other food chains.

Starbucks enabled BTC wallet top-ups in 2021 through the Bakkt app, though the crypto was converted to dollars before reaching the till.

Chipotle began accepting over 90 cryptocurrencies in 2022, including Bitcoin, Ether, and Solana, through Flexa—again with automatic conversion to fiat currency.

Subway was one of the first fast food chains to test Bitcoin payments back in 2013 at select franchises.

Although some stores in crypto-forward cities later revived the initiative, there was no national implementation.

Global rollouts and legal tender

Outside the US, crypto adoption in food retail has typically responded to local economic pressures.

In Venezuela, Burger King briefly accepted Bitcoin and other digital assets in 2020 via a partnership with Latin American platform Cryptobuyer.

However, this was limited in scope and short-lived.

El Salvador went further by declaring Bitcoin legal tender in 2021.

Major brands like Pizza Hut and Starbucks quickly offered crypto payments in the country.

Despite the fanfare, national usage has remained low, with some reports citing infrastructure gaps and inconsistent user experiences.

Native crypto or fiat?

Steak ‘n Shake has yet to confirm whether it will process Bitcoin natively or convert it to fiat at checkout.

Previous retail integrations have mostly favoured instant conversion tools to manage volatility.

The answer could define whether this rollout represents genuine on-chain adoption or simply another workaround.

If the rollout succeeds, it could prompt other national chains to reassess crypto payments.

If it fails, it may reinforce doubts about Bitcoin’s use in everyday commerce.

The post Steak ‘n Shake to start accepting Bitcoin at over 300 outlets in US from May 16 appeared first on CoinJournal.

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Pepe price jumps 40% amid memecoin rally driven by Bitcoin surge

  • Price broke resistance at $0.000009 amid 150% volume spike.
  • Whale accumulation triggered breakout to $0.000011 zone.
  • Target levels include $0.00001712, $0.00002118 and potentially $0.00006.

The memecoin market is back in focus after Pepe recorded a dramatic 40% surge in the past 24 hours, outperforming Dogecoin, Shiba Inu, and other top tokens.

The broader altcoin rally followed Bitcoin’s break past the $100,000 level and Ethereum crossing $2,200.

As a result, memecoins are now leading gains across decentralised finance, with some tokens recording double-digit increases in a matter of hours as renewed investor confidence returns.

Pepe, one of the more volatile assets in the segment, has just broken through a critical resistance at $0.000009 amid rising whale accumulation and a 150% jump in trading volumes.

Technical indicators suggest this breakout could lead to a major price discovery phase and potentially a new all-time high for the token.

Whale demand and volume boost fuel breakout

Trading volume for Pepe skyrocketed as larger investors, often called ‘whales’, began accumulating substantial amounts of the token.

The breakout above $0.000009 was seen as a major technical milestone, having acted as a stubborn resistance in the past.

The price move was accompanied by a 150% increase in volume, pointing to strong market interest.

Whale wallets reportedly bought millions of dollars’ worth of Pepe, which helped drive momentum past key price levels.

At the time of writing, Pepe is trading at $0.00001334, having surpassed the $0.000011 range that previously marked the token’s April high.

Source: CoinMarketCap

Technicals point to next leg of bull run

Pepe’s price chart shows a double-bottom reversal formation, with the neckline recently breached. Weekly technical indicators support a bullish continuation.

The Relative Strength Index (RSI) is showing a breakout into overbought territory, while the MACD has flipped bullish with a crossover above the signal line.

The token is currently testing its 200-day moving average on the weekly timeframe.

If it maintains support above this level, analysts suggest a move towards $0.00001712 is possible, followed by a run to $0.00002118.

Beyond that, the chart suggests Pepe could test the resistance channel top at around $0.00006, which would mark a new all-time high and potentially attract fresh speculative capital.

Memecoin sector gains accelerate

The broader memecoin market has seen significant gains in the past day.

BOOK OF MEME jumped 30%, while Fartcoin, Mog Coin, FLOKI, and ApeCoin posted increases between 18% and 20%.

Several others, including popular tokens in the top 100 by market cap, registered 15% gains or more.

The rally is widely viewed as being fuelled by Bitcoin’s strength, which has historically served as a catalyst for speculative altcoins.

Ethereum’s move above $2,200 has also restored confidence in riskier crypto assets, especially tokens with strong community backing like Pepe and others that have experienced prior bull cycles.

Unlike some of the smaller tokens, Pepe has managed to break key resistance with strong on-chain activity.

The bullish divergence across technical indicators hints at sustained buying interest, particularly as the meme sector enters what some traders call a “parabolic” phase with high volatility.

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XRP rallies as Bitcoin breaks out and Fed pauses; Bitcoin Pepe targets 300% surge

  • XRP price is rising following Bitcoin’s breakout past $100K, with the SEC settlement boosting the outlook.
  • Bitcoin Pepe combines Bitcoin’s security with Solana’s speed for meme trading.
  • Bitcoin Pepe’s presale offers up to 300% gains for early participants.

The cryptocurrency market is buzzing with excitement due to Bitcoin’s recent breakout above $100,000 and the Federal Reserve’s decision to pause interest rate hikes, which has paved the way for altcoins like XRP to see significant price jumps.

At the same time, a new project, Bitcoin Pepe, is capturing attention with its potential for up to 300% gains as it nears its launch.

XRP price soars as Bitcoin breaks out above 100,000

XRP, the native token of the Ripple network, has seen its price soar by over 6% in just the past 24 hours.

This rally is fueled by Bitcoin’s climb past the $100,000 mark, lifting the broader altcoin market as the Federal Reserve’s pause on interest rate hikes also boosts investor confidence in risk assets like cryptocurrencies.

Another major catalyst for XRP is the news of a potential settlement in the SEC’s lawsuit against Ripple Labs.

The SEC’s proposed $50 million settlement is a fraction of the original $2 billion demand, signalling a positive turn for XRP.

These developments have played a vital role in pushing XRP’s price past a critical resistance level at $2.26.

The trading volume has also spiked, reflecting strong buying interest and market support for the current upward trend.

With the SEC case nearing resolution and a bullish crypto market, XRP’s outlook is increasingly optimistic.

Crypto analyst Ali Martinez predicts that a close above this level could send XRP toward $2.6.

Bitcoin pepe eyes 300% gains as Presale gains momentum

As XRP positions itself for what could be a major Bull Run, Bitcoin Pepe, a new layer 2 solution on the Bitcoin network, is generating hype with its bold vision.

Bitcoin Pepe aims to merge Solana’s speed and low fees with Bitcoin’s unmatched security and permanence.

This fusion could transform meme coin trading and draw huge interest to the Bitcoin ecosystem.

Bitcoin Pepe introduces a new token standard referred to as the PEP-20 token standard, which aims to allow anyone to create assets natively on Bitcoin, sparking potential for a meme coin boom.

Bitcoin Pepe is currently in its presale phase, and it has already raised over $7.7 million, showing strong investor enthusiasm.

Structured in 30 stages, each presale stage increases the token price by 5%, rewarding early buyers.

Those who bought in at $0.021 in the first stage could see over 300% gains by the time of launch, which is anticipated to happen in Q2 2025.

While the price has climbed by 47.61% to the current price of $0.031, investors can still capitalise on the rising presale prices in the remaining presale stages.

Post-presale, Bitcoin Pepe is poised to become the go-to platform for Bitcoin-based meme trading, which could propel the price of the BPEP token even higher.

Also, once the Bitcoin Pepe platform officially launches, it will feature a staking program with staking pools offering token holders passive income of up to 10,000% APY.

With Bitcoin’s breakout and the Fed’s stance fueling altcoin interest, Bitcoin Pepe is poised for big potential gains post-listing, offering a fresh, high-growth opportunity in the evolving crypto landscape.

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