XLM, DOGE, ADA holders warned by Coinbase; Here's why

On Tuesday, May 13, Coinbase Assets X account announced the upcoming launch of cbADA, cbLTC, cbXRP and cbDOGE

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XRP, DOGE, ADA holders warned by Coinbase; Here's why

On Tuesday, May 13, Coinbase Assets X account announced the upcoming launch of cbADA, cbLTC, cbXRP and cbDOGE, wrapped versions of Cardano, Litecoin, XRP and Dogecoin.

Announcing the upcoming launch of cbADA, cbLTC, cbXRP and cbDOGE. These will be wrapped versions of ADA, LTC, XRP and DOGE, respectively, and will be deployed on the Ethereum network. Once launched, these tokens will be available for use in Coinbase's DeFi and Web3 products.

To help prevent fraud, we are sharing the official contract addresses for each token. You can use these addresses to verify the authenticity of the tokens once they are launched.

The crypto exchange giant's move to expand its offerings comes as part of a broader trend in the industry to provide users with more choice and flexibility in how they interact with the DeFi ecosystem.

Earlier this year, Coinbase introduced cbBTC, Coinbase Wrapped BTC, in September 2024. Two months later, the product debuted on Solana to expand its use beyond the Ethereum ecosystem.

Coinbase's move to launch wrapped versions of other popular crypto tokens is sure to be welcomed by many in the crypto community. However, it is important to note that these tokens will not be available for trading until they are officially launched by Coinbase.

In the meantime, users are advised to be aware of any fraudulent actors who may try to sell fake tokens or solicit funds.

2 key price points for Dogecoin (DOGE) right now

Dogecoin (DOGE) is currently trapped between two price zones that could influence its next big move.

According to prominent analyst Ali Martinez, the first is a major resistance at $0.36, where nearly 5.7 billion DOGE were moved, and testing this level again could cause serious selling pressure.

The second is a key support zone at $0.21, which is also a crucial level to watch.

"This zone saw the largest cluster of realized price activity outside of all-time high zones, with 11.1 billion DOGE (7.5% of circulating supply) being traded within this $0.14-$0.21 range. If the price falls here, it will serve as the first strong support."

459,040,000,000,000 SHIB scenario imminent: What's next for SHIB?

Shiba Inu (SHIB) appears to be preparing for a significant move as it approaches a critical on-chain barrier.

According to IntoTheBlock's Global In/Out of Money indicator, a large amount of 459.04 trillion SHIB has been accumulated by 47,780 addresses in the $0.000017 to $0.000019 range.

This zone could act as resistance since many holders are out of the money and may sell if the price reaches their break-even point.

A breakout above this zone could spark bullish momentum and attract new buyers, while a rejection might cause a pullback.

If SHIB can surpass this zone, the next barrier range could be between $0.000019 and $0.000024, where 177.63 trillion SHIB were previously bought by 141,410 addresses.

However, support lies below Shiba Inu's current level, between $0.000014 and $0.000016, where 30.36 trillion SHIB were previously bought by 50,940 addresses.

Zoom out on the Bitcoin chart, and you'll notice that BTC has been forming a massive ascending triangle since the 2020 lows.

According to BitcoinCharts.com, the cryptocurrency is currently trading at around $66,000, and if it can break through the $70,000 resistance, it could clear the way for a move towards the $90,000 level.

This pessimistic price prediction for Bitcoin (BTC) comes from a recent analysis by crypto trader Ben Armstrong, who uses the alias "Bastacanali" on X, formerly known as Twitter.

In his post, Bastacanali shared a technical analysis of the BTC/USD chart, which indicates that Bitcoin could plummet to $30,000 by the end of the year.

According to his analysis,