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Dogecoin’s Price Could Hit $1.25 by May, Analyst Predicts

The crypto market is showing signs of recovery following a rollercoaster for a few days, and thoughts are turning to how high some of the more popular assets could go in the coming days and months. One analyst has suggested that the largest meme coin by market cap, Dogecoin (DOGE), could shatter its current all-time high price and break past the $1 level by May, drawing from historical trends and technical patterns. Bullish Symmetry Pseudonymous crypto analyst Master Kenobi recently highlighted DOGE’s price symmetry over the past year. He noted that the OG meme coin followed a cyclical pattern of two major pumps, the first coming in February 2024 and the second following six months later in August. While the initial surge saw the coin’s value go up at least 3 times, the gains were all lost following a significant crash in August. However, it rallied a second time soon after, with its price multiplying six times. This particular pump also came to an abrupt end over the weekend when the entire crypto market shed more than $400 billion, triggered by a squabble over tariffs between the United States and three of its trading partners, Mexico, Canada, and China. Dogecoin holders saw about 57% of the profits they had gained over the last five months disappear within 24 hours as the market reacted to the tariff impasse. Despite the setback, Kenobi sees potential for another upswing. According to the analyst, DOGE’s green trendline support, which was a key level, has now turned into resistance. Consequently, if the meme coin breaks above that level again, it could trigger a strong rally. The analyst laid out two possible scenarios for the token’s price action: On one hand, it could repeat the rally from February last year, with a peak forming by the end of the month. The second possibility is that it could follow an extended consolidation period before hitting new highs by mid-April or early May. Kenobi is leaning more towards the latter case, estimating that if DOGE mirrors the August 2024 pattern, then a 6x rally from the current bottom could push its price to at least $1.25. Market Sentiment Divided The analyst’s prediction has come only a day after reports emerged that several Dogecoin whales had offloaded 270 million tokens worth about $70 million within 24 hours. This mass sell-off increased supply and raised concerns about further price declines if demand fails to keep up. Another well-regarded market watcher, Ali Martinez, previously flagged a bearish crossover between DOGE’s Market Value to Realized Value (MVRV) ratio and its 30-day Simple Moving Average. According to him, this signal could indicate further price drops in the near term. At the time of writing, the cryptocurrency was back in the green, jumping 5.9% in the last 24 hours. However, the current price is still 21% below its seven-day peak of $0.3398, underperforming the broader crypto market, which is down 5.7%. The post Dogecoin’s Price Could Hit $1.25 by May, Analyst Predicts appeared first on CryptoPotato . Finbold

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AI predicts Cardano (ADA) price for February 28 as whales go on a selling spree

The price of Cardano ( ADA ) is showing recovery in line with the general cryptocurrency market , but whale activity is signaling possible volatility in the coming days. ADA was trading at $0.75 as of press time, surging over 11% in the last 24 hours. However, the decentralized finance ( DeFi ) asset is down 20% on the weekly chart. ADA seven-day price chart. Source: Finbold Notably, ADA and other digital currencies have shown strength since President Donald Trump agreed to pause the 25% tariff imposed on Canada and Mexico for a month. Amid this market volatility, on-chain data indicates that whale investors have dumped over 330 million ADA in recent weeks, according to data shared by prominent on-chain cryptocurrency analyst Ali Martinez in an X post on January 4. ADA whale transactions. Source: Santiment/ Ali_charts This massive sell-off coincided with a steep decline in ADA’s price, raising concerns among investors about the cryptocurrency’s near-term trajectory. Notably, despite ADA’s sharp dip in recent days, these whales have refrained from buying back at lower levels, signaling potential caution in the market. AI predicts ADA price Typically, such moves point to the possibility of an asset dropping in value. To this end, Finbold turned to its artificial intelligence (AI) tool to determine how ADA might trade in the short term, specifically on February 28. The AI tool, leveraging several models, set an average price target of $0.83, suggesting a possible 9.2% increase. One of the bullish outlooks omitted from OpenAI’s Chat GPT-4o , which predicted ADA would surge to $0.95, a 25.4% jump. This bullish outlook is attributed to strong upward momentum, supported by ADA’s position above the 200-day simple moving average ( SMA ). Another forecast comes from Claude 3 Opus , which anticipates a rise to $0.92, marking a 21.4% increase. This projection highlights the influence of a bullish “ golden cross ” between the 50-day and 200-day moving averages. However, it notes the market remains cautiously optimistic, with potential volatility still a factor. On the more conservative side, ChatGPT-4o Mini predicts ADA could dip to $0.62, representing an 18.6% decrease. While it acknowledges some positive momentum, this forecast reflects a less optimistic view of short-term market dynamics. Meanwhile, GPT-3 Mini projects have climbed moderately to $0.81, a 6.2% increase. Finbold AI ADA price prediction. Source: Finbold ADA technical indicators Looking at the ADA chart setup, an analysis by pseudonymous cryptocurrency analyst BullishBanter highlighted the token’s path to the $1 mark. In an X post on February 4, the analyst pointed to Cardano’s recent dip to $0.75 as a potential turning point, with the liquidity sweep signaling a “Change of Character” (ChoCH) and a possible shift in market structure. The move taps into a high-liquidity zone, setting the stage for a reversal toward the $0.95 to $1.10 resistance range, supported by price imbalances and structural highs. For bulls to take control, ADA must reclaim $0.85 to $0.95 as support. Failure to do so risks renewed selling pressure below $0.75. ADA price analysis chart. Source: BullishBanter While ADA price remains below the 50-day SMA of $0.964543, it is above the 200-day Simple Moving Average (SMA) at $0.620169, indicating a longer-term bullish trend. The relative strength index ( RSI ) of 36.63 suggests ADA is slightly oversold, offering a possible buying opportunity. Market sentiment is mixed, with bearish signals contrasting a high Fear & Greed Index score of 72 (“Greed”). Featured image via Shutterstock The post AI predicts Cardano (ADA) price for February 28 as whales go on a selling spree appeared first on Finbold . Finbold