A DOGE whale has drawn the crypto community’s attention following a recent transfer involving millions of the meme coin. This development comes as crypto analyst Master Kenobi predicted that a Dogecoin price breakout will happen “within hours.”
DOGE Whale Moves 478 Million Coins As Dogecoin Price Eyes Breakout
Whale Alert data shows a DOGE whale moved 478 million coins worth $72.9 million from an unknown wallet to another unknown wallet, hinting at active accumulation from this investor. Other whales also look to be actively accumulating, as crypto analyst Ali Martinez revealed that DOGE whales bought over 800 million coins in 48 hours.
This accumulation comes amid Master Kenobi’s prediction that a Dogecoin price breakout will happen within hours. His accompanying chart highlighted an ascending rectangle, from which the breakout could occur. The analyst further remarked that the breakout will also likely surpass the downtrend line.
The crypto analyst stated that this is arguably the most significant event for DOGE this year so far. He added that the Dogecoin price’s peak is anticipated around late May to early June, aligning with the BNB price and other major altcoins.
Meanwhile, his accompanying chart also showed that Dogecoin could rally to as high as $0.8 if it reaches the upper boundary of this rectangular channel.
Martinez also recently predicted that the top meme coin could soon reach $0.29. He stated that price needs to hold the key support at $0.13 and sustain a break above $0.17 to reach this level.
More Bullish Outlook For DOGE
In a series of X posts, crypto analyst Trader Tardigrade provided a bullish outlook for the Dogecoin price. In one post, he stated that DOGE is breaking out of a falling wedge pattern on the 1-hour chart. He added that DOGE’s Relative Strength Index (RSI) also shows a breakout after hitting the oversold zone.
In another post, the crypto analyst stated that Dogecoin is forming a prolonged symmetrical triangle. Trader Tardigrade remarked that the longer the consolidation within the triangle, the stronger the momentum builds, leading to a higher pump for the DOGE price.
His latest X post also showed that the Dogecoin price was eyeing a rally to the $0.8 target, just like Master Kenobi predicted.
Blockchain gaming network Immutable is charging ahead after the US SEC (Securities and Exchange Commission) closed its investigation into the platform’s native token, IMX, in late March.
Co-founder Robbie Ferguson shared key milestones on X (Twitter), signaling a turning point for the company and the broader Web3 gaming industry.
Immutable’s Ferguson Highlights Network’s Growth
Immutable executive Ferguson revealed that the blockchain-based gaming platform has made commendable strides despite a regulatory clampdown.
“Despite the SEC inquiry, this last year we’ve onboarded 5 million wallet users, partnered with 3 multi-billion dollar companies, and doubled our signed games to 500+. Now the investigations over, so lock in, because we’re only accelerating from here,” Ferguson wrote.
High-profile collaborations with firms such as Tencent and Temasek reinforce the company’s momentum, signaling growing institutional confidence in the Web3 gaming model. Its flagship tools, like Immutable Passport, simplify onboarding for mainstream users, allowing seamless access to decentralized game economies.
According to Ferguson’s post, Immutable’s ecosystem may be on track to become one of the most expansive in the space. With over 500 games now in development or live on its platform, it holds one of the largest libraries of blockchain-enabled titles.
Beyond volume, this growth reflects a shift in how games are built and played. By leveraging NFTs (non-fungible tokens), players gain actual ownership of their in-game assets. This represents a stark departure from major publishers’ traditional walled-garden approach.
Immutable’s Treeverse Season 1 Reward Campaign Starts April 19
A key part of this ecosystem is Treeverse, one of the most anticipated Web3 titles launching on Immutable. Backed by the END token and boosted by additional IMX and MON rewards, the game’s first season emphasizes merit-based progression and asset utility.
“Treeverse officially launched on all stores (iOS, Android & Windows) on March 18th. Almost a month later we are finally launching Season 1, beginning with a 30-day reward campaign…on 19th April [4 PM GST/1 PM BST/12 PM UTC/7 AM CT] Season 1 will commence,” a campaign breakdown on Endless Clouds articulated.
Treeverse rewards genuine engagement with NFT-based multipliers, exclusive gear, and a transparent reward model for real gamers.
“2 days until Treeverse Season 1 launches! – 2.76% of END token supply – Bonus IMX & MON token rewards – Packs, Boosts, and Exclusive Crowns available – Holder multipliers – up to 1.75x for NFTrees. Treeverse rewards real gamers on Immutable,” the network shared in a Thursday post.
Based on Ferguson’s highlights, industry voices are pushing back against the controversial crypto nemesis.
“Saw Gary Gensler’s talk today and how he was talking about 10-15k tokens besides Bitcoin not having fundamental value. When asked what he thinks about SEC charges being dropped, him still trying to go at it like every coin they pressed on had no fundamental value. Was some clown takes,” commented Meta Alchemist.
Alchemist urged builders like Ferguson to keep pushing forward. In the same tone, Jason, CEO and founder of the Genome Protocol, lauded Web3 gaming.
Immutable’s resurgence comes when the Web3 gaming sector is poised for explosive growth. It is projected to expand from $4.6 billion in 2022 to nearly $65.7 billion by 2027.
With its regulatory hurdles cleared and infrastructure battle-tested, Immutable may be poised to go beyond just keeping pace.
A recent Cambridge report confirms that the United States now leads global Bitcoin mining, prompting questions about how China will respond. Though the country has long held an anti-crypto stance, Chinese mining pools have historically controlled a substantial portion of the global Bitcoin hashrate.
The US’s current competitive edge and renewed hostility over trade policy might motivate China to recapitulate. BeInCrypto spoke with representatives from The Coin Bureau and Wanchain to understand what might encourage China to change its stance toward digital assets.
US Overtakes China as Top Bitcoin Mining Hub
The US has firmly established itself as the world’s largest Bitcoin mining hub. A recent Cambridge Centre for Alternative Finance (CCAF) report revealed that the US accounts for 75.4% of the reported hashrate.
Global distribution of Bitcoin mining activity. Source: CCAF.
This newest development confirms a notable reversal of power over Bitcoin mining dominance. China emerged as the world’s leading Bitcoin mining nation as early as 2017, leveraging its extensive mining infrastructure and low electricity costs to contribute upwards of 75% of the global hash rate at one point.
Yet, the country would later crack down on the industry.
China’s Crypto Crackdown
In 2019, the National Development and Reform Commission of China (NDRC) signaled its intention to prohibit cryptocurrency mining by releasing a draft law categorizing it as an “undesirable industry.”
Two years later, at least four Chinese provinces began shutting down mining operations. These crackdowns intensified amid concerns over excessive energy consumption.
However, China possesses a proven capacity to adjust to geopolitical shifts that could jeopardize its economic dominance, and the current environment may present such a challenge.
Has Bitcoin Mining in China Truly Stopped?
Even with China’s official stance toward crypto, mining activity has not stopped within the region. In July 2024, Bitcoin environmental impact analyst Daniel Batten reported that the hashrate within China currently accounts for approximately 15% of the global total.
7/8
Bottom lines: 1. 15%+ hashrate still comes from China
2. If you have 200-500 miners and want to do renewable-energy mining, you’re welcome
3. This is particularly in Inner Mongolia, the Texas of China, which has a lot of wasted renewable power they want to monetize pic.twitter.com/r6QUgmLmjT
“Despite the official ban, the infrastructure is already in place: from offshore mining to cross-border trading hubs. With more global momentum behind crypto adoption and the US taking the lead, China may find itself incentivized to lean in more strategically, even if unofficially,” Nic Puckrin, Co-founder of the Coin Bureau, told BeInCrypto.
China also has a geographical advantage over the United States, especially regarding technological advancements.
Crypto mining, especially for proof-of-work cryptocurrencies like Bitcoin, depends on Application-Specific Integrated Circuit (ASIC) equipment to handle the necessary complex calculations for validation and mining.
China’s position as a top exporter of crypto mining hardware, particularly to the US, gives it a potential advantage should it decide to revive its mining sector.
Puckrin believes that the combination of trade friction and the US’s invigorated push for crypto dominance might be sufficient to make China reconsider its position.
“It’s unlikely China will make a public U-turn on its crypto mining and trading ban anytime soon. However, with US-based miners accounting for higher and higher proportions of Bitcoin’s hashrate, China is bound to be paying attention and may well be quietly reassessing its stance,” Puckrin told BeInCrypto.
However, China has strategies beyond restarting its Bitcoin mining industry to undermine the United States’ dominance.
China’s Nuanced Approach Beyond US Influence
Even though China opposes the widespread use of cryptocurrencies domestically, it may still see value in digital assets to counterbalance the US dollar’s global currency dominance.
Several countries worldwide have either adopted or are considering central bank digital currencies (CBDCs) to strengthen their domestic currencies. China is at the forefront of these developments.
“Despite the ban on Bitcoin mining, China has actively participated in the digital asset space, through initiatives like CDBC research and the digital yuan, or e-CNY,” Wanchain CEO Temujin Louie told BeInCrypto.
In fact, China’s efforts to create a digital yuan are partly driven by its desire to de-dollarize its economy and lessen its dependence on the US dollar.
Louie also suggested that whatever move China makes, it won’t solely base its decision on what the US does or does not do.
That said, China’s decisions about digital currency will, in turn, affect how its position on crypto continues to develop.
“Weakening USD dominance, whether exacerbated or caused by President Trump’s approach to tariffs, may embolden China to be more aggressive in [its] efforts to internationalise the yuan, including the digital yuan, or e-CNY. Any change to China’s broader strategy will be reflected in [its] stance towards crypto,” he concluded.
China’s activity in other areas of international trade already proves how nuanced its policy changes tend to be.
Could China’s Conflicting Crypto Policies Signal a Change?
Aside from its appreciation of digital currencies like the e-CNY, China’s stance on crypto has already proven somewhat contradictory. These discrepancies may fuel the belief that the country might just be willing to revert—or at least soften—its total ban on mining.
A month ago, investment firm VanEck confirmed that China and Russia –two countries particularly burdened by US sanctions– are reportedly settling some of their energy trades using Bitcoin.
Russia and China are settling oil trades in BTC. I’ve heard first hand accounts of similar transactions with Venezuela. Full tankers are settled in BTC on the “grey” market. The U.S. Government crossed the Rubicon in 2022 by seizing Russian assets at the Federal Reserve and… pic.twitter.com/Y8OwJROw9W
“With the US dollar increasingly being used as a political lever –particularly in tariffed economies– other nations are actively exploring alternatives. Indeed, many countries around the world, including China and Russia, are already using Bitcoin as an alternative for trading in commodities and energy, for example. This trend is only going to accelerate as digital assets become a more prominent part of the global economy,” Puckrin told BeInCrypto.
According to Puckrin’s analysis of these indicators, China’s “shadow crypto economy” is projected to expand this year, which could result in a reassertion of its power. This resurgence would be primarily in response to de-dollarization efforts, rather than a reaction to US dominance in mining.
“We’ll likely see this activity ramping up in the near future, especially as more countries use crypto to bypass dollar-dominated systems,” he concluded.
It will remain crucial to interpret China’s intentions, especially regarding cryptocurrency, by observing its actions rather than relying solely on its official statements.
Donald Trump’s long-awaited White House Crypto Summit disappointed the crypto space. Its promises were underwhelming, and the community was undervalued. Bitcoin’s price fell slightly instead of an anticipated jump.
Several Trump-aligned crypto executives praised the President’s attempts to curtail federal regulators and suggested the industry was “doomed” without his intervention. Still, this frustration hasn’t boiled over into an all-out schism yet.
“Welcome to the first ever White House Digital Assets Summit. I know that many of you have been fighting for years for this, and it’s an honor to be here with you. Last year, I promised to make America the Bitcoin capital of the world… and we’re taking historic action to deliver on that promise,” Trump claimed.
However, the most bullish expectations of Trump and the Crypto Summit quickly fell. He addressed his Crypto Reserve plans in brief detail, offhandedly suggested that he could help FIFA launch a token, and postponed his timetable for friendly regulations to become law.
Mostly, crypto executives praised him as a savior of the industry, sparking backlash:
“That Summit was the most embarrassing thing I’ve ever witnessed. This is really what we’ve come to? Is everyone just worshipping Trump? Meanwhile, he has no idea what he’s reading off of, he’s just riffing on what David Sacks wrote him. We used to be cypherpunks, we used to be anti-government, now we [just] want the price to go up,” popular NFT trader Clemente claimed.
Excessive Deference Causes Pushback
Specifically, the televised Crypto Summit only lasted a little over 20 minutes, most of which did not involve Trump himself speaking.
Several close allies, such as Coinbase CEO Brian Armstrong, excessively praised the President’s attempts to curtail the SEC and other regulators. They suggested that Trump saved the industry from excessive enforcement under Gary Gensler.
This deferential attitude towards Trump, the Summit’s short duration, and lack of substantial promises created an overall negative impression.
By suggesting that the industry was “doomed” without Trump’s help, these executives ignore the community’s strength, resilience, and innovative spirit. Is it any wonder Bitcoin’s price fell afterward?
Participants at Trump’s Crypto Summit lauded his attempts to totally defang financial regulators, which is already sparking unprecedented turmoil within the federal government.
“The Crypto Summit is a disgrace. It’s a national embarrassment. The crypto faction that has captured the White House is precisely what our Founding Fathers warned us about. It will be a blight on whatever legacy Trump leaves and marks a low point for the presidency and the USA,” wrote Peter Schiff, financial commentator and crypto critic.
Ultimately, it doesn’t look like this Crypto Summit will precipitate a real break between Trump and the community overnight. People are dissatisfied, true, but some may yet benefit.
For example, Armstrong already announced that Coinbase will hire 1,000 more employees. It may take real economic losses for this ambient frustration to boil over.
However, overall, the summit remained largely underwhelming. It did not offer any significant positive development signal for the industry outside of the US market.
