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Although April 1st is known as April Fool’s Day, for Dogecoin it could turn into a day facing a significant reality. Even though LTC remained relatively weak, we observed double-digit gains in the last 24 hours in both BCH and DOGE prices due to the same reason. So, what is the reason for the rise in these three, and why is April 1st important?
Dogecoin (DOGE)
If the CFTC (U.S. Commodity Regulator) does not object to the derivative products applied for by the Coinbase exchange for DOGE, LTC, and BCH by April 1st, these three altcoins will be tagged as commodities on that date. Officially escaping the SEC’s control, these altcoins will come under the more lenient jurisdiction of the CFTC. This is shaping their potential to become a refuge for investors weary of endless securities lawsuits.
For example, XRP Coin has been battling with the SEC for years. Or dozens of cryptocurrencies like MATIC Coin are on the verge of being labeled as securities, depending on the outcome of ongoing Binance, Coinbase lawsuits. The fundamental reason for the price increase in Dogecoin and BCH is this.
As for the price outlook, at the time of writing, DOGE has finally overcome the psychological barrier of $0.2. If the resistance area of $0.225 can also be breached, investors’ target will be the $0.3 threshold, not seen since the week of November 8, 2021. Due to the lack of significant resistance in this range, rapid rallies dependent on the general market sentiment can be seen. Conversely, a return to $0.172 and $0.15 is possible.
REI Coin Price Prediction
REI became the highest rising altcoin on the Binance exchange today, with an increase of nearly 200%. This type of speculative rally, often seen in bull markets, has just begun. Investors should be cautious about a potential return to $0.17, as we are accustomed to seeing losses follow such rapid increases at the same pace.
The price at ATH level on the Binance exchange is currently facing strong sales above $0.3. If the $0.28 threshold can be maintained, $0.32 could be targeted again.
CLV Coin Price Prediction
The price increased by 114% in the last 14 days and today, with a gain exceeding 30%, it became one of the most profitable altcoins on the Binance exchange. Investors should be cautious about closing below $0.152, as we have seen how quickly gains can reverse in the previous week for CLV Coin.
However, if the current price region turns into support, new peaks at $0.213 and $0.252 could be seen. This would also mean a reversal of the excessive selling that has been ongoing for about 2 years.
