Coinbase Warns XRP, DOGE, ADA Holders About New Wrapped Assets
On May 13, Coinbase Assets announced the upcoming launch of wrapped versions of Cardano (cbADA), Litecoin (cbLTC), XRP (cbXRP), and Dogecoin (cbDOGE). These assets are not yet live for trading, and Coinbase warned against potential fraud attempts. The exchange shared official contract addresses for verification upon launch.
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This follows Coinbase’s September 2024 introduction of cbBTC (wrapped Bitcoin), which later expanded to Solana. Investors should verify contracts cautiously to avoid scams.
Dogecoin’s Critical Price Zones: $0.21 Support vs. $0.36 Resistance
Analyst Ali Martinez identifies two pivotal levels for DOGE:
- Resistance at $0.36: Nearly 5.7 billion DOGE were moved here; retesting may trigger selling pressure.
- Support at $0.21: Over 11.1 billion DOGE (7.5% of supply) traded here, forming a strong demand zone.
Current Outlook:
- A breakout above $0.36 could signal a bull run.
- Falling below $0.21 may lead to deeper corrections.
SHIB’s Make-or-Break Moment: 459 Trillion Tokens in Focus
Shiba Inu faces a critical juncture:
- Resistance Zone ($0.000017–$0.000019): 459.04 trillion SHIB held by 47,780 addresses. A breakout could fuel rallies; rejection may cause pullbacks.
- Next Barrier ($0.000019–$0.000024): 177.63 trillion SHIB bought by 141,410 addresses.
- Support ($0.000014–$0.000016): 30.36 trillion SHIB held by 50,940 addresses.
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FAQ Section
1. What are wrapped tokens?
Wrapped tokens are blockchain assets pegged to another cryptocurrency’s value (e.g., cbDOGE represents DOGE on Ethereum/Solana), enabling cross-chain functionality.
2. Why is $0.21 crucial for DOGE?
It’s the largest accumulation zone outside ATH levels, acting as a psychological and transactional support.
3. How could SHIB’s resistance impact its price?
Overcoming it may attract bullish momentum; failure could reinforce consolidation or declines.
Keywords: XRP, Dogecoin, SHIB, Coinbase, wrapped tokens, crypto resistance, support levels
Note: Always verify official sources and consult financial advisors before trading.
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