Altcoin
Dogecoin Price May Crash To $0.015 If It Loses This Support, Says Analyst
Dogecoin (DOGE) is currently experiencing a downward trend, aligning with the broader crypto market trend. Despite this prevailing bearish period, analysts and experts remain bullish about the meme coin’s potential uptrend. However, the Dogecoin price could plummet to $0.015, if it fails to challenge the significant support level.
Will Dogecoin Price Slip to $0.015?
According to Ali Martinez’s analysis, Dogecoin’s price has been following an ascending channel since 2014. Historically, DOGE has bounced back from the channel’s lower support trendline to the upper resistance trendline, only to drop back down.
However, DOGE has now reached a critical juncture. If it breaks below the $0.19 support level, it may trigger a sharp correction to $0.015.
This bearish prediction aligns with DOGE’s current performance. As of press time, DOGE is trading at $0.2029, with a dip of 2.87% over the last day. Despite a 7-day increase of 7.5%, Dogecoin plummeted by 23% over the past month.
Is a Rebound Possible?
Though analyst Ali Martinez cautions traders about a possible pullback, others remain optimistic about Dogecoin price. Solbert Invest predicts a potential big move for DOGE, with $0.17 being the possible bottom. His notable forecasts for Dogecoin price include $0.57 and $0.82. He wrote on X, “DOGE is testing macro support—if it holds and we bounce, these targets could be in play.”
The surge in optimism for Dogecoin’s price is fueled by increased activity among DOGE “whales.” Recently, DOGE whales have snapped up over 150 million tokens, hinting at a potential price surge.
Furthermore, analyst Crypto Patel has identified the current levels as a key accumulation zone for DOGE, suggesting that investors are buying up the cryptocurrency in anticipation of a bullish rally.
Dogecoin Price May Reach $2.5 and Beyond
In Crypto Patel’s analysis, Dogecoin price is poised to reach $2.5 triggered by this accumulation zone. The technical analysis chart presented by Crypto Patel showcases Dogecoin repeating historical patterns. As per the chart, $0.320, $0.585, $1.501, and $2.5 are Dogecoin’s critical levels ahead.
Meanwhile, another popular platform, Crypto Daily Trade Signals, forecasted the DOGE’s bullish trajectory to $5. They presented an average directional index (ADX) chart for DOGE, highlighting the meme coin’s historical patterns that suggest a potential rebound. According to Dogecoin price prediction, the meme coin has the potential to hit $2020430 by 2025.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
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.
While Ethereum price charts appear gloomy at first glance, a pattern from 2020 is forming that can trigger fresh rallies for ETH. Crypto analyst Carl Moon says the difference between Ethereum’s price and its realized price is a setup for a parabolic rally in the future.
Ethereum Price To Recapture $2,000 Within Days
Crypto expert Carl Moon says that Ethereum’s poor run of form is reaching its end after prices mirrored a historical pattern. According to Moon’s post on X, the Ethereum price currently trades far below its realized price of $2,000.
Realized price, also known as true cost basis, is the average price of circulating assets at their last on-chain transaction.
Moon notes that this is the first time that the Ethereum price has fallen below its realized price in nearly five years. A previous occurrence in early 2020 saw the Ethereum price slump from $283 to almost $100, far below its realized price.
The crypto analyst highlights the impressive rally that followed the slump below the realized price back in 2020. At the time, the ETH price stage a short-term recovery to surge past the $283 mark before going on to cross the $4K mark.
“Ethereum is below the realized price of $2,000. This is a rare event,” said Moon. “The last time this happened was in March 2020, when ETH dropped from $283 to $109. Notice how quickly ETH recovered.”
As ETH grapples with $1,500, Moon says ETH’s price is far below its realized prize of $2,000, a clear signal of bottoming behavior.
Weakening Demand For ETH Despite Cyclical Pattern
Crypto analyst Vasu Crypto has taken swipes at Ethereum over its weakening demand in recent months. The analyst notes while the underlying technology is solid, low demand has negatively affected its price economy.
Per Vasu, new blockchains like Solana, Sui, and layer 2 protocols are aping into Ethereum’s market share. Their speed and lower transaction cost have cast doubt over Ethereum becoming deflationary again.
“The supply is increasing, but there’s no strong demand coming,” said Vasu.
World Liberty Financial is selling off its ETH holdings at a loss, signaling a loss of institutional appetite for the ETH. Standard Chartered lowered their prediction for Ethereum price to $4,000 from $10,000 after a shoddy performance in Q1.
Furthermore, even grimmer predictions continue to hover around the Ethereum price. Bitcoin critic Peter Schiff predicts that an ETH drop below $1,000 is in play given cyclical behaviour from 2022.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
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.
Pepe Coin whales sent shockwaves across the broader crypto market by offloading over 1 trillion tokens recently. Data from numerous transaction trackers revealed that large-scale investors have embarked upon a PEPE-selling spree amid the ongoing crypto market slump. Particularly, whales are reflecting a panic-selling sentiment due to the broader market uncertainty caused by recent macro trends.
Pepe Coin Whales On Selling Spree Spark Concerns As Over 1T Tokens Sold
Lookonchain’s data on April 9 revealed that a whale sold 723.67 billion PEPE tokens for 4.63 million DAI. While this selloff sparked investor concerns, major institutional crypto liquidity providers also dumped massive amounts, adding to the market unease.
Spotonchain’s data suggested that market maker Cumberland deposited 247 billion coins to Robinhood recently. Also, renowned market maker B2C2 was recorded as depositing 163 billion tokens to Binance. Overall, Pepe Coin whales, including market makers, have offloaded nearly $7 million worth of tokens in just a day.
Why Are The Dumps Bearish?
Usual market sentiments remain highly negative in the wake of such whale dumps, underscoring the loss of market confidence and rising negative pressure on an asset’s dynamics. The dump transactions indicate potential selloffs, and thus bringing heightened token supply on exchanges. These aspects remain critically eyed by investors as they pose a severe risk to the price.
PEPE Price Action
As of press time, PEPE price continued its fall, dropping nearly 1% to $0.000006301. The coin swooped to a $0.000005814 low while also hitting a peak of $0.000006405 intraday. Notably, the weekly chart for the crypto shows a drop of over 14%. This broader waning action may be the catalyst for rising Pepe Coin whale dumps.
It’s worth pointing out that the frog-themed meme coin has lost nearly 70% since the start of this year, alongside broader market trends. The token that once traded at the $0.00002 price level in January is now down to unprecedented lows. As a result, broader market sentiments surrounding the meme coin remain uncertain. Further, the Trump tariff’s ripple effect has further swallowed hopes of a recovery in the short term.
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.
Cryptocurrency exchange Binance triggered a wave of market concerns this Wednesday by revealing plans to delist seven crypto trading pairs shortly ahead. The exchange announced on April 9 that it is delisting specific pairs for ACT, ALPHA, BLUR, CELR, PENGU, POND, and RUNE tokens as soon as this weekend. As a result, market onlookers are expecting additional heat on the assets’ prices amid an incessant broader market slump.
Binance To Delist 7 Crypto Trading Pairs This Week: Why Are Investors Cautious?
Binance’s recent announcement disclosed that the following spot trading pairs will be delisted on April 11 at 03:00 UTC:
- ACT/BRL,
- ALPHA/BTC
- BLUR/BTC
- CELR/BTC
- PENGU/BNB
- POND/BTC
- RUNE/BNB
The decision to delist these spot trading pairs comes as the exchange looks to protect its users from emerging market risks while also maintaining a high-quality trading experience despite broader volatile trends.
Notably, the delisting process also comes as these spot trading pairs exhibit poor liquidity and low trading volume, among other negative market reasons. However, “the delisting of a spot trading pair does not affect the availability of the tokens on Binance Spot,” the announcement added.
Additionally, the leading crypto exchange will also terminate spot trading bot services for the abovementioned pairs on the same date and time. Users can still trade the spot trading pair’s base and quote assets on the platform.
Overall, the delisting announcement ignited a bearish market wave, given that similar historical chronicles usually ushered in price volatility. CoinGape earlier reported that Binance announced plans to delist GALA, PERP, and two other crypto tokens, reverberating bearishness surrounding their prices.
GALA’s price lost over 30% in value since the delisting announcement on March 26 to date. Similarly, PERP price cracked nearly 50% since the same. These waning price actions have in turn garnered bearish sentiments toward the abovementioned tokens.
Further, the broader crypto market uncertainty due to macroeconomic trends has put additional pressure on crypto prices. As a result, market participants reflect a highly cautious approach when it comes to the seven tokens, whilst others may look to sell to avoid losses, bringing more heat to prices ahead.
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.
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