Dogecoin has spent the better part of three years digesting its 2021 blow-off- 
top, yet the popular meme-coin may be about to leave the consolidation range 
behind, according to a fresh weekly chart shared on X by the pseudonymous 
analyst Maelius (@MaeliusCrypto). Dogecoin &#8216;Looks Incredible&#8217; The DOGE/USDT 
pair on Binance is printing a weekly candle at $0.1828 (open 0.1705, high 
0.1833, low 0.1643), up 7.2% on the week. Two long-term moving averages frame 
the current structure: the 50-week exponential moving average (EMA-50) at 
$0.203 in blue and the rising 200-week EMA (EMA-200) at $0.138 in red. Price 
sliced below the EMA-50 earlier this year, but—crucially in Maelius’ 
view—never lost the EMA-200, which now sits inside a broad, slate-coloured 
demand zone running roughly from $0.11 to $0.20. A second layer of support 
comes from an ascending red trend-line that links the October 2023, August 
2024 and April 2025 swing-lows. The most recent pullback, labelled “2” on the 
chart, bounced almost precisely where that diagonal meets the EMA-200 and the 
lower edge of demand—an area of triple confluence that technicians often see 
as a textbook springboard for the next advance. Related Reading: 72% Of 
Binance Traders Go Long On Dogecoin, What Does This Mean For Price? Maelius’ 
primary thesis rests on a nested 1-2, 1-2 Elliott Wave count. The first “1-2” 
sequence began with a thrust to ~$ 0.2288 in March 2024, retraced to $ 0.0805 
in August the same year, and then ignited a larger impulsive leg that topped 
near $0.4843 in December last year (labelled the second “1”). The corrective 
follow-through to $0.1298 in April completed the second “2”. In Elliott 
terminology, two consecutive 1-2 structures “wind the spring” for wave 3 of 
(3)—historically the longest and steepest portion of an impulse. Maelius 
places the coming third wave, its subsequent fourth-wave consolidation, and a 
final fifth wave in the blank area above current price. He predicts DOGE to 
reach roughly $1 as part of the third wave, followed by a correctional fourth 
wave below $0.70. The fifth wave is forecasted to reach its climax somewhere 
between $1.30 and $1.70. Related Reading: Dogecoin Bounce Expected By Analyst 
Who Called Bitcoin Bottom Beneath the price action sits the WaveTrend 
Oscillator (WTO), a momentum indicator closely related to the TSI that 
measures the distance between an asset’s price and its own smoothed values. 
The WTO prints two lines and a histogram; a bullish cycle begins when the 
faster line crosses above the slower one from oversold territory (–60/–53 in 
the standard settings). That cross has just fired on the 1-week timeframe for 
the first time since the August 2024 low. The histogram has shifted from deep 
red to neutral grey, echoing similar transitions that preceded Dogecoin’s 
previous vertical advances. Put together, the chart describes a market that is 
holding a multi-year demand block, trading above its 200-week EMA, 
testing—though not yet reclaiming—its 50-week EMA, and exhibiting a fresh 
bullish momentum cross. From a pure-chart standpoint, those ingredients 
satisfy many of the conditions technicians look for when hunting the start of 
a primary trend leg. Maelius concludes: “DOGE looks incredible here, despite 
the fact it went lower as I initially expected (was expecting EMA50 to 
hold).Respecting major demand area, EMA200 as well as diagonal support and it 
seems like 1,2,1,2 is completed and now we head for 3rd EW (within larger 
3rd). 1W WTO recently crossed, which is also supportive of bottom being in.” 
At press time, DOGE traded at $0.18445. Featured image created with DALL.E, 
chart from TradingView.com

Dogecoin ‘Looks Incredible Here,’ Says Crypto Analyst — Here’s Why

A crypto-skeptical commissioner at the US Securities and Exchange Commission 
has blasted her agency over its settlement letter that could finally end the 
Ripple legal saga.
The SEC and Ripple filed a joint settlement letter in a New York court asking 
for the August 2024 injunction against Ripple to be dissolved and $75 million 
of the $125 million in civil penalties held in escrow to be returned to the 
crypto firm, according to a May 8 statement from the SEC.
SEC Commissioner Caroline Crenshaw blasted the pending deal in a May 8 
statement, saying it would damage the regulators&#8217; ability to keep crypto firms 
in line and undermine the court&#8217;s ruling.
_Source:__James Filan_
&#8220;This settlement, alongside the programmatic disassembly of the SEC&#8217;s crypto 
enforcement program, does a tremendous disservice to the investing public and 
undermines the court&#8217;s role in interpreting our securities laws,&#8221; she said.
&#8220;In the meantime, the settlement joins a line of dismissals that collectively 
erode the credibility of our lawyers in court who are being asked to take 
legal positions today contrary to the ones taken just months ago.&#8221;
Under the Trump administration, the SEC has slowly been walking back its 
hardline stance toward crypto firms forged under former SEC Chair Gary 
Gensler&#8217;s reign, dismissing a growing number of enforcement actions against 
crypto firms.
At the same time, Crenshaw argues that if Judge Torres accepts the settlement, 
it would erase &#8220;the investor protections we already won&#8221; and leave a 
&#8220;regulatory vacuum,&#8221; until the crypto task force hammers out a regulatory 
framework.
&#8220;The settlement is not in the best interests of the investors and markets that 
our agency is tasked with serving and protecting. It creates more questions 
than answers.&#8221;
In August last year, a Judge ordered Ripple to pay $125 million in penalties 
after ruling the firm&#8217;s XRP (XRP) token was covered by securities laws only 
when sold to institutional investors.
## What&#8217;s next for the Ripple case? It&#8217;s not over yet
While the SEC and Ripple have agreed to a settlement, it&#8217;s still not a done 
deal, according to ex-federal prosecutor James Filan, because there are 
several steps before the long-running legal saga can conclude.
For a start, Judge Torres needs to provide an indicative ruling if she agrees 
to the settlement letter, Filan said in a May 8 analysis on X.
_Source:__James Filan_
If Torres provides an indicative ruling, the SEC and Ripple will ask the 
Second Circuit Court of Appeals for a limited remand back to Judge Torres, 
which, if granted, will result in another motion being filed for the agreed 
settlement, according to Filan.
_**Related:**__**Bitnomial drops SEC lawsuit ahead of XRP futures launch in 
the US**_
&#8220;After the injunction is dissolved and the funds distributed, the SEC and 
Ripple will ask the Court of Appeals to dismiss the SEC&#8217;s appeal and Ripple&#8217;s 
cross-appeal. Then it will be over,&#8221; he said.
The SEC initially launched legal action against Ripple Labs in December 2020, 
accusing the firm of illegally selling its token as an unregistered security.
_**Magazine:**__**SEC &#8216;s U-turn on crypto leaves key questions unanswered**_

SEC’s Crenshaw slams Ripple settlement, warns of ‘regulatory vacuum’

Bitcoin surges into state-level finance as two U.S. states legalize strategic 
bitcoin reserves within 48 hours, signaling unstoppable bipartisan momentum 
and a new financial era. Bitcoin Breaks Through Politics: Two States Flip in 
48 Hours With Explosive Moves Momentum behind strategic bitcoin reserves 
surged this week as two U.S. states enacted legislation within 48 hours […]

Within 48 Hours, 2 US States Enact Strategic Bitcoin Reserve Legislation

Crypto exchange Coinbase&#8217;s total revenue fell 10% quarter-over-quarter to $2 
billion in Q1, missing industry estimates by 4.1% as trading activity slowed 
across the market.
Coinbase&#8217;s net income was sliced by 95% from a near-company record $1.29 
billion in Q4 to $66 million, in a large part due to Coinbase marking a $596 
million paper loss on its crypto holdings.
The firm&#8217;s earnings per share of $1.94, however, managed to beat the Zacks 
Consensus Estimate of $1.85 for the quarter.
Coinbase&#8217;s May 8 results also showed that transaction revenue fell 18.9% 
quarter-on-quarter to $1.26 billion, as did trading volumes, which dipped 
10.5% to $393 billion as crypto market cap dropped by double digits over the 
quarter, partly attributed to the Trump administration&#8217;s tariffs.
In contrast, US President Donald Trump&#8217;s election win in November was 
considered one of the main catalysts behind the rising market prices in Q4.
_Key financial metrics for Coinbase in Q1. Source:__Coinbase_ 
Meanwhile, Coinbase&#8217;s subscription and services revenue rose 8.9% to $698.1 
million, with stablecoin revenue the most significant contributor.
Despite the fall in total revenue and trading volume, Coinbase said it gained 
more market share in global spot and derivatives trading while deepening its 
presence in emerging markets such as Argentina and India with &#8220;critical 
registrations.&#8221;
On the regulatory front, Coinbase said the dismissal of its lawsuit with the 
US securities regulator marked a &#8220;major judicial win for balanced, innovation- 
friendly regulation, and our efforts to make crypto mainstream.&#8221;
## Coinbase makes deal with major crypto derivatives platform
On May 8, Coinbase agreed to acquire crypto derivatives platform Deribit for 
$2.9 billion, marking the industry&#8217;s largest corporate acquisition to date.
The acquisition will expand Coinbase&#8217;s footprint in the crypto derivatives 
market immensely, which previously had been limited to its Bermuda-based 
platform.
Coinbase noted that Deribit facilitated over $1 trillion in trading volume in 
2024 and has around $30 billion of current open interest.
_**Related:**__**$45 million stolen from Coinbase users in the last week &#8212; 
ZachXBT**_
The deal now makes Coinbase the &#8220;global leader&#8221; in crypto derivatives trading, 
the firm said.
Competitor firm Kraken struck a similar deal in March when it agreed to 
acquire futures brokerage NinjaTrader for $1.5 billion.
Coinbase&#8217;s Deribit deal contributed to a 5.1% rise in Coinbase&#8217;s (COIN) share 
price during the May 8 trading day, though shares have pulled back 3.1% in 
after-hours since the crypto exchange posted its Q1 results.
_Coinbase &#8216;s change in share price on May 8, including after-hours. Source: 
__Google Finance_
 _**Magazine:**__**Crypto wanted to overthrow banks, now it &#8216;s becoming them 
in stablecoin fight**_

Coinbase revenue falls 10% in Q1, missing industry estimate

The SEC has finally filed its long-awaited settlement agreement with Ripple, 
signaling a pivotal moment that could unleash XRP’s momentum and reshape 
crypto regulation forever. SEC and Ripple File Final Settlement in XRP 
Case—Now All Eyes on Judge Torres The U.S. Securities and Exchange Commission 
(SEC) published a Litigation Release on May 8 announcing a […]

Cryptocurrency price in VND