The Blockchain Bulletin, Dec 24: Will DOGE Repeat its Parabolic Rally?

Hey folks, welcome back! Here is a recap of all that happened in the last 24 hours in the crypto community. Crypto critic Peter Schiff proposed the creation of ‘USAcoin’, a government-backed currency, as an alternative to Bitcoin. Schiff stated that the U.S. government could create a new token and save a lot of money rather than create a strategic Bitcoin reserve fund. 

Schiff further suggested that the supply could be capped at 21M like Bitcoin but with an upgraded blockchain to make it viable for payments. Considering his comments, crypto developers created an unofficial token, garnering attention. However, Schiff claimed that the comment was meant to be sarcastic but added that the government could benefit by creating such a token. 

In a major political development, Sriram Krishnan has been appointed as White House AI Policy Advisor under Trump. The role highlights the growing significance of AI and its overlap with blockchain technologies. With Krishnan’s deep understanding of technology and crypto, this move is seen as a strategic step toward integrating AI governance into blockchain and cryptocurrency policy frameworks.

On the other hand, Stuart Alderoty, Ripple’s Chief Legal Officer, has called for reforms at the SEC as the XRP case marks its fourth anniversary. Alderoty’s remarks emphasize the need for clearer regulatory guidelines to foster innovation in the crypto space. The prolonged legal battle has spotlighted the challenges of regulatory ambiguity, with Ripple urging for a balanced approach.

Speculations were rife in the crypto community after Elon Musk predicted that Joe Biden might forgive Sam Bankman-Fried (SBF), the founder of FTX, now a defunct crypto exchange. This controversial prediction has stirred discussions about the intersection of politics and crypto, especially as SBF’s legal troubles continue to unfold.

In the market sector, MOCA, a token under Animoca Brands, saw a notable price surge after founder Yat Siu announced a holiday reward for holders. The gesture underscores the rising trend of community-driven rewards in the crypto gaming ecosystem. With Animoca’s influential position, MOCA’s rally reflects a growing interest in the blockchain-based gaming sector.

Further, Dogecoin’s potential for another parabolic rally has become a topic of speculation, fueled by its history of surprising gains. Analysts debate whether DOGE will replicate its past performance, with social sentiment and whale activity being key factors to watch. As always, DOGE’s trajectory remains unpredictable but fascinating. As of press time, the meme coin is trading at $0.3238 with a market cap of $47.7B.

On the other hand, altcoins like ADA, SUI, DOT, HBAR, and UNI are showing signs of a Santa Claus rally. Analysts predict increased holiday season trading activity, driving these tokens toward potential gains. The anticipated rally highlights the seasonal patterns that often influence crypto markets.

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