Altcoin
Dogecoin Mirrors Ethereum As Social Sentiment Tanks, Is A Price Crash Brewing?
Dogecoin currently boasts a bearish outlook, having dropped below the $0.30 psychological level and is now at risk of losing the $0.20 level. This bearish outlook is further strengthened by a drop in DOGE’s social sentiment, mirroring Ethereum, which has also suffered significant price crashes.
Dogecoin Mirrors Ethereum As Social Sentiment Tanks
In an X post, on-chain analytics platform Santiment revealed that Dogecoin is mirroring Ethereum as social sentiment on these coins is “nearly non-existent.” This means that there has been a lack of significant social media interest in Dogecoin and Ethereum, with investors choosing to discuss other coins over them.
In this regard, Santiment revealed that Bitcoin is leading the way in cryptocurrency discussions on these social media platforms. Meanwhile, Cardano has also witnessed a massive rise compared to usual. On the other hand, Dogecoin and Ethereum are both basically non-existent in these crypto discussions.
This development provides a bearish outlook for Dogecoin and hints that a further price decline may be on the horizon. It is worth mentioning that the foremost meme coin has been one of the coins that has taken the most hit during the market downtrend, losing the $0.3 psychological level. This indicates that the negative social sentiment has also translated to a lack of buyers in the DOGE ecosystem to help defend certain support levels.
Besides the crash in social sentiment, on-chain metrics also paint a bearish picture for Dogecoin and hint at a price crash that could be brewing. IntoTheBlock data shows that there has been a dropping in ‘Hodlers Balance.’ These are investors who have held the meme coin for a year more. As such, long-term holders look to be losing their confidence in Dogecoin, which could spark a wave of sell-offs and lead to a massive crash for the foremost meme coin.
DOGE Is Still In An ‘Overall’ Bull Market
Despite the recent downtrend for Dogecoin, crypto analyst KrissPax has assured market participants that the foremost meme coin is still in an overall bull market. He noted that every falling wedge over the past year and a half has led to an upward trend breakout for DOGE. As such, despite the recent pullback due to inflation, fewer rate cuts, and Trump’s tariffs, the crypto analyst is confident that Dogecoin will eventually turn around and go higher.
Crypto analyst Trader Tardigrade also provided a bullish outlook for DOGE, stating that a price surge is imminent. He remarked that DOGE’s bullish falling wedge was nearing a breakout. The crypto analyst added that the meme coin often forms large falling wedge before it pumps. His accompanying chart showed that DOGE could finally pump to the much-anticipated $1 level when it breaks out to the upside.
At the time of writing, the Dogecoin price is trading at around $0.25, down almost 5% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Adobe Stock, chart from Tradingview.com
Altcoin
Analyst Says It’s Time To Buy Bitcoin Again After Cup And Handle Pattern, Reveals New ATH Target
After experiencing bearish declines and volatility, Bitcoin (BTC) is finally looking bullish, with a crypto analyst forecasting a breakout to a new all-time high target. After identifying a Cup and Handle pattern on the Bitcoin chart, the analyst announced to investors and traders that now may be the time to buy BTC.
Bitcoin Price Targets New All-Time Highs
In a detailed Bitcoin price chart, CobraVanguard, a TradingView crypto analyst, highlights the formation of a textbook Cup and Handle pattern. This technical pattern is a well-known bullish continuation indicator, signaling that momentum may be building up and that Bitcoin may be on the verge of a strong price rally.
Interestingly, the chart also shows other key technical indicators. An Ascending Triangle pattern, characterized by a flat upper resistance line and a rising lower trendline, was found. This technical pattern is another bullish formation often preceding a rally, signaling increased buying pressure.
Speaking of buying pressure, CobraVanguard highlights that the emergence of two bullish technical patterns on the Bitcoin chart may be an indication to buy and HODL. With the price below $100,000 and currently trading at $95,806, an impending price rally would mean that now may be the most optimal time to enter the market.
Based on these patterns, the TradingView analyst has set a new target for Bitcoin. He forecasts the pioneer cryptocurrency will reach $120,000 in the coming weeks. This would mark a new all-time high, surpassing previous market peaks obtained earlier this year.
Notably, CobraVanguard has also identified an AB=CD harmonic pattern on the chart in addition to a Cup and Handle and Ascending Triangle pattern. This AB=CD indicator suggests symmetry in the Bitcoin price movements and signals a measured move to the upside once the pattern is complete.
Although the TradingView analyst predicts that the asset could hit $120,000, he highlights that if its breakout from the aforementioned bullish patterns persists, a higher target of $124,619 could be reached.
Whales Go On Massive BTC Buying Spree
The Bitcoin buying pressure persists, as whales are snapping up as much BTC as they can during its current downtrend. These deep-pocketed investors are known for making strategic buys, often entering the market during volatile and declining periods and then selling at market peaks.
According to new reports from Coinvo on X (formerly Twitter), Bitcoin whales are currently buying “an insane” amount of BTC. Sharing a detailed chart depicting Bitcoin’s inflows to accumulation addresses, Coinvo highlights a sharp increase in inflows, suggesting that whales are actively buying BTC in large quantities.
This behaviour is often seen before potential price rallies, as accumulation tends to drive demand higher. As a result, Coinvo has indicated that the increased whale activity may be a sign to start buying BTC.
Featured image from Unsplash, chart from Tradingview.com
The crypto prices on Thursday echoed considerable optimism among traders and investors globally, embarking on rising trajectories. Bitcoin (BTC) price pumped to regain a hold above $97K, whereas Ethereum (ETH), XRP, and Solana (SOL) also traded dominantly in the green territory intraday. Intriguingly, PancakeSwap (CAKE) led the market gains today, surging by a staggering 59%.
Here’s a brief collection of the most buzzworthy coins for the day and how they are performing in the market.
Crypto Prices On February 13: BTC & Altcoins Rise Despite Hot US CPI
Despite the U.S. CPI data coming in hotter than expected for January (at a 3% YoY basis), the crypto market has shown signs of recovery, sparking speculation among traders and investors globally. For context, usual market sentiments convey concerns surrounding risk assets like crypto amid rising inflation data.
However, BTC and altcoins took an upward trajectory, with the global cryptocurrency market cap rising 2.91% to $3.23 trillion. Further, even the global market volume saw a 24.91% increase to $130.06 billion.
Bitcoin Price Jumps 2% To $97K
BTC price witnessed a 2% uptick in the past 24 hours and is now trading at $97,539. The coin’s intraday low and high were $94,101.20 and $98,151.03, respectively. Bitcoin’s dominance over the past day witnessed a 0.54% decline, indicating that altcoins led the market gains today.
Ethereum Soars 6%
ETH price witnessed a 6% pump in value in the past 24 hours and is now trading at $2,742. The coin’s 24-hour low and high were $2,551.17 and $2,794.87, respectively. Intriguingly, the coin soars alongside the broader crypto market trend, while 21Shares’ recent proposal to offer services related to staking on spot ETH ETF products appears to have further boosted the market sentiment.
SOL & XRP Follow Crypto Market Trend
Simultaneously, SOL and XRP prices have mimicked the broader market trend, trading in the green zone today. XRP price gained nearly 4% in the past 24 hours and is now trading at $2.48. Its intraday bottom and peak were $2.35 and $2.49, respectively. SOL price jumped nearly 1% intraday and is now sitting at $197.55. The coin’s intraday low and peak were $189.61 and $198.45, respectively.
Meme Crypto Prices Today
Also, Dogecoin (DOGE) price surged above 5% over the past day, reaching $0.2646. Further, Shiba Inu (SHIB) rose by 8% to $0.00001682. Even PEPE & TRUMP prices increased by 2%-7%, reaching $0.00001012 and $15.60, respectively.
Top Crypto Gainer Prices Today
PancakeSwap (CAKE)
Price: $3.15
24-Hour Gains: +59.21%
Onyxcoin (XCN)
Price: $0.0253
24-Hour Gains: +22%
Jito (JTO)
Price: $3.07
24-Hour Gains: +17%
Top Crypto Loser Prices Today
Bitget Token (BGB)
Price: $5.93
24-Hour Loss: -5%
DeXe (DEXE)
Price: $18
24-Hour Loss: -4%
Helium (HNT)
Price: $3.77
24-Hour Loss: -1%
Overall, the broader crypto market today remains optimistic as prices show signs of a potential recovery. Besides, crypto analyst Ali Martinez highlights on X that the current resistance for BTC is at $97,530, although the coin traded above this level as of press time. A sustained momentum above this could result in further gains, driving broader market growth back near previous highs.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Technical analysis shows that Dogecoin is looking to break out from a key structure zone near $0.26, which could cause a change in market momentum. This technical outlook comes amidst a bearish week for DOGE, which has seen it breaking below support levels and erasing its gains throughout January.
According to a technical analysis of the TradingView platform, Dogecoin is about to break out of a robust pattern that could send it on further price increases.
Breakout From Structure Zone, Dogecoin To Rise Above $0.33
Crypto analyst Klejdi Cuni highlighted on TradingView that Dogecoin has moved beyond a robust structure zone, which theoretically opens the door for further price gains. According to the analysis, which is based on DOGE’s price action on the 4-hour candlestick timeframe, the asset had been consolidating in a robust zone between February 5 and February 10 before eventually breaking out of the upper trendline of this zone.
Notably, this zone arose after the meme coin’s decline between February 1 and February 3, which saw it break below $0.22 for the first time since November 2024. This decline was then followed by a brief recovery before Dogecoin eventually settled and started consolidating between $0.23 and $0.26.
According to crypto analyst Klejdi Cuni, this consolidation zone was a robust one. At the time of his analysis, Dogecoin managed to break above the upper trendline of this robust zone, with the analyst noting that it looked solid and a breakout might be next.
However, Cuni cautioned that while Dogecoin has breached this key level, the breakout might not immediately follow through with strong upward momentum. He pointed out that a temporary pause is possible as investors await the testimony from Federal Reserve Chair Jerome Powell, which could influence broader market sentiment before Dogecoin’s next potential move.
Short-Term Price Targets And What Needs To Happen Next
The analyst identified price targets at $0.286, $0.311, and $0.335 after the breakout is confirmed. Breaking above these targets in quick succession will open up the stage for another strong move above $0.335. However, looking at these, they are short-term price targets for Dogecoin in light of a bearish price action in the past two weeks. DOGE had already even traded above these price targets throughout last month, but this is the reality now, given the decline since the beginning of February.
Despite the lack of immediate bullish momentum, Dogecoin has not entered a full-fledged bear market. Many investors are on standby and watching for signs of renewed strength before making their move.
Long-term bullish targets, including the widely speculated $2 level, are still in play as long as Dogecoin can hold above the strong support level at $0.2.
At the time of writing, DOGE is trading at $0.2536, down by 5.3% in the past 24 hours.
Featured image from iStock, chart from Tradingview.com
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