Dogecoin's Future, Altcoin Predictions And PayPal's Digital Currency: Top Crypto Stories This Week
Portfolio Pulse from Benzinga Neuro
The cryptocurrency market saw significant activity this week, with predictions, launches, and transfers. Crypto analyst Kaleo predicts a potential breakout for Dogecoin (DOGE), with gains exceeding 200%. Analyst Ali Martinez noted a positive correlation between Dogecoin and Shiba Inu (SHIB). PayPal Holdings Inc. (PYPL) unveiled a new U.S. dollar-denominated stablecoin, PayPal USD (PYUSD). Veteran trader Peter Brandt predicted that 99.8% of altcoins will meet a fate similar to the HEX coin. An unidentified wallet transferred 67.81 million Dogecoin to Coinbase.
August 13, 2023 | 12:08 pm
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NEUTRAL IMPACT
Analyst Ali Martinez noted a positive correlation between Dogecoin and Shiba Inu.
The noted correlation between Dogecoin and Shiba Inu could influence investor behavior, but it's unclear how this will impact Shiba Inu's price in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Crypto analyst Kaleo predicts a potential breakout for Dogecoin, with gains exceeding 200%.
The prediction of a significant breakout for Dogecoin by a crypto analyst could lead to increased investor interest and potential price increase in the short term.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
PayPal Holdings Inc. unveiled a new U.S. dollar-denominated stablecoin, PayPal USD.
The launch of PayPal's new stablecoin could potentially increase the company's relevance in the digital payments landscape, possibly positively impacting its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100