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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 .
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
3BAY, XRP & SOL: A Comparison of Cross-Chain Innovations
Market Trends for XRP, Solana’s Recovery, & Web3Bay’s $1M Presale Among Hot Crypto Topics Cross-chain functionality and strategic flexibility are revolutionizing decentralized networks, with Web3Bay , XRP, and Solana each tackling distinct challenges and seizing new opportunities. Web3Bay enhances interoperability, connecting networks like Ethereum and BNB Chain to foster a cohesive e-commerce environment where users can effortlessly execute transactions across different blockchains. XRP capitalizes on institutional alliances and regulatory challenges to boost its cross-border payment capabilities. In contrast, Solana’s recent price drop underlines its technological advancements, with critical resistance levels suggesting a possible market recovery. Web3Bay’s approach to cross-chain integration stands out by offering unparalleled inclusivity, linking diverse networks to streamline transactions, and enhancing collaboration within the blockchain space. Web3Bay’s Blueprint for Interoperable Commerce Web3Bay is crafting the future of decentralized trade by focusing on interoperability and cross-chain functionality. By connecting with major blockchain ecosystems such as Ethereum and BNB Chain, Web3Bay facilitates transactions involving assets from various chains, enhancing liquidity, expanding user choices, and establishing a unified marketplace where individuals from different blockchain communities can easily engage. Additionally, Web3Bay addresses the significant issue of asset and user base fragmentation in the Web3 space. For example, a purchaser with Ethereum-based assets can conveniently deal with a seller using BNB Chain tokens. This adaptability not only improves user experience but also promotes broader inclusivity, nurturing a dynamic Web3 commerce environment. The effectiveness of Web3Bay’s strategy is evident in its successful presale outcomes. Notably, Stage 4 of the presale has garnered over $1 million, with 280 million tokens distributed at a current rate of $0.004562625. The anticipation of a high return on investment at launch, estimated at 6,430%, highlights investor confidence in Web3Bay’s potential to revolutionize e-commerce through its cross-chain approach. As the importance of interoperability grows, Web3Bay’s dedication to a seamlessly interconnected ecosystem positions it as a leader in the evolving shift, enabling users with exceptional flexibility and opportunities in the digital marketplace. XRP’s Recent Performance XRP, Ripple’s native cryptocurrency, recently reached a price of $3.14, showing a modest rise of 1% for the day but a drop of 6.93% over the last week, highlighting the ongoing market fluctuations. The trajectory of XRP is shaped by various elements, including Ripple’s ongoing legal issues with the U.S. Securities and Exchange Commission (SEC) about claims of selling unregistered securities. A positive resolution could lift investor confidence and increase XRP’s value. Market sentiment is also crucial and is swayed by wider cryptocurrency movements and regulatory updates. There has been a boost in optimism with talks of Paul Atkins, known for his positive stance on crypto, possibly heading the SEC. Ripple’s expanding partnerships with financial entities also boost XRP’s role in international payments, promoting its usage. Furthermore, the introduction of cryptocurrency ETFs focusing on XRP might attract significant institutional investments. Solana’s Recent Price Drop This past weekend, Solana (SOL) saw its value decrease by about 13%. This drop came after a significant five-wave surge that peaked at $294.50 on January 19. Solana is now in an ABC correction phase, with Wave C nearing the 0.618 Fibonacci retracement level, a crucial support point at $216.90. Technical analysis shows promising signs, with the Relative Strength Index (RSI) nearing oversold territory, indicating a possible upcoming reversal. Additionally, a bullish divergence on the 1-hour chart RSI points to a potential uptick soon. Important resistance levels to watch are $221.77 and $246.54, which align with the 0.5 and 0.382 Fibonacci retracement levels, respectively. Final Say Web3Bay, XRP, and Solana each offer unique solutions to the challenges within the decentralized digital economy. Web3Bay’s emphasis on cross-chain compatibility distinguishes it by promoting inclusivity and facilitating smooth transactions across different blockchain networks, aiming for a more unified e-commerce environment. XRP enhances its presence in international payments, supported by institutional backing and regulatory progress. Meanwhile, Solana shows potential for a market rebound, which could reaffirm confidence in its capabilities. Join Web3Bay Presale Now: Presale: https://web3bay.io/buy Website: https://web3bay.io/ Twitter: https://x.com/web3bayofficial Instagram: https://www.instagram.com/web3bayofficial/ Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here . Crypto Potato
Sol Strategies Expands SOL Holdings With 40,300 SOL Acquisition
Sol Strategies has strengthened its validator operations and SOL holdings, acquiring an additional 40,300 SOL worth $9.93 million. Expansion of SOL Holdings and Validator Operations Remain Key for Sol Strategies Sol Strategies Inc., a publicly traded Canadian firm focused on the Solana blockchain, has announced significant validator growth and expanded SOL holdings. Between Jan. 19-31, Crypto Potato
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