Altcoin
DOGE Whales Scoop 530M Coins as Dogecoin Price Eyes $0.30 Rebound
DOGE whales have accumulated over 530 million Dogecoin (DOGE) within the past 72 hours. This surge in whale holdings has coincided with a decline in Dogecoin price, signaling strategic buying at lower levels. Analysts suggest that such accumulation may indicate confidence in the asset’s long-term potential and could drive Dogecoin price to $0.30 if demand persists.
DOGE Whales Accumulate 530M Coins, Dogecoin Price to $0.30?
According to a recent post on X, crypto analyst Ali Martinez reported that large investors have been actively accumulating Dogecoin in the past three days. On-chain data from analytics platform Santiment indicates that DOGE whales have acquired 530 million coins during this period. This accumulation trend suggests that institutional and high-net-worth investors are capitalizing on Dogecoin price dips to strengthen their positions.
Despite a declining trend in recent weeks, analysts see the top meme coin whale activity as a potential precursor to a price recovery. Historically, similar accumulation phases have preceded short-term rebounds, as reduced market supply creates bullish pressure. While some traders remain cautious, expecting further retracement, whale buying reinforces price optimism.
If current demand holds, analysts suggest that Dogecoin price could push toward $0.30 in the coming weeks. However, technical indicators also suggest the potential for another pullback before a sustainable uptrend can be established.
Will Price Retrace to $0.125?
While the recent accumulation by DOGE whales has sparked optimism, some analysts anticipate a price correction before any major recovery. Crypto analyst Dave Hunter, posting on TradingView, projected a retracement to $0.125, describing it as an accumulation zone. His analysis is based on Dogecoin price action, which has struggled to break key resistance levels.
Hunter identified $0.24 as a critical resistance zone where Dogecoin price is expected to react before moving lower. He cautioned that a failure to breach this resistance could trigger further declines, leading to additional selling pressure in the short term. Liquidity sweeps from lower levels could also accelerate downward movement.
Despite this bearish outlook, some traders view the projected retrace as a buying opportunity. Market participants who accumulate near $0.125 may benefit if Dogecoin price rebounds in alignment with historical patterns of whale-driven rallies.
TD Sequential Buy Signal Hints at Reversal
Moreover, the TD Sequential has flashed a buy signal for Dogecoin, suggesting that a price reversal could be on the horizon. According to Ali Martinez, the signal appeared on DOGE’s daily chart after a sequence of nine consecutive downward candles, a formation that historically precedes upward movements.
The TD Sequential indicator, often used to identify potential trend reversals, has been a reliable tool in past DOGE price movements. In addition to this signal, Martinez pointed out that an S13 pattern, represented by a green arrow on the chart, reinforces the possibility of a rebound. If this bullish signal holds, Dogecoin price could experience a sharp upward movement from its current levels.
Similarly, a recent CoinGape analysis supported the potential Dogecoin price rally to $3, citing strong whale accumulation and market resilience. According to the analyst, the top meme coin maintains support between $0.19 and $0.16, it will trigger a recovery toward key resistance levels, including $1 and $2, before testing the $3 mark.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
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.
Crypto prices today (February 28) continue to face severe heat, as indicated by Bitcoin (BTC) price briefly touching a $79K low in the past 24 hours. Simultaneously, Ethereum (ETH) price tanked below the $2,200 level during early Asian hours on Wednesday. Altcoins such as XRP and Solana (SOL) also backtracked nearly 8%. The broader sector continues to face pressure in light of global trade war speculations due to Donald Trump’s new tariffs and investors’ panic selling.
Crypto Prices Today: BTC, ETH, XRP, & SOL Continue To Fall
Notably, the crypto market lost nearly 4% in the past 24 hours, as indicated by a shredded market cap of $2.7 trillion. Further, the market volume was down by 10.5% over the past day, reaching $138.91 billion. This data indicated that market participants continue to exercise caution amid a volatile trend.
Simultaneously, cryptocurrency prices continue dealing with volatility amid over 177K traders liquidated for over $700 million intraday, per Coinglass.
Also, it’s worth keeping in mind that Donald Trump’s new import tariffs on EU, Canada, and Mexico are sparking trade war tensions, impacting global markets.
BTC Price Hits $79K Low Amid Crypto Market Volatility
As of press time, BTC price cracked by over 5% in the past 24 hours, exchanging hands at $80,470. The flagship coin hit a bottom of $79,523 in the past 24 hours, per CoinMarketCap data. This waning action aligns with an eye-catching $365.91 million worth of liquidations in the Bitcoin market. Nevertheless, the coin’s dominance managed to stay up by 0.07%, signaling altcoins continue to face more pressure.
ETH Price Slips Below $2,200
ETH price tanked over 7% in the past 24 hours, closing in at $2,152. The coin hit an intraday bottom and peak of $2,128.18 and $2,378.09, respectively. Ethereum recorded liquidations worth $166.28 million in the past 24 hours, rationalizing the slumping action.
XRP Price Nears $2 Mark
XRP price traded at $2.02 at the time of reporting, crashing 8% intraday. Ripple’s native coin hit a low and high of $2.02 and $2.25 over the past day. Liquidations for the same came in at $17.94 million in the past 24 hours. The crypto’s price faces heat in tandem with broader market trends.
SOL Price Plunges 8%
SOL price slumped 8% in the past 24 hours, closing in at $127.42. The coin hit a low and peak of $127.57 and $142.18 in the past 24 hours. Solana registered $31.69 million worth of liquidations in the past 24 hours. Nevertheless, market expert Raoul Pal shared a bullish outlook for the cryptocurrency amid market stats hinting at an oversold condition.
Meme Crypto Prices In Downtrend
Dogecoin (DOGE) price plummeted 8% over the past day, exchanging hands at $0.1885. The meme coin soars despite massive DOGE whale buying, sparking market concerns.
Shiba Inu (SHIB) price fell 8% over the past day, reaching $0.00001332. The token drops despite an uptick in SHIB burn rate, as reported by CoinGape recently.
Pepe Coin (PEPE) and TRUMP coin prices fell 12%-16%, closing in at $0.000007419 and $11.24, respectively. The meme coin sector reflects a bearish trend in sync with broader market developments.
Top Gainers Crypto Prices Today
Berachain (BERA)
Price: $7.71
24-Hour Gains: +4%
Litecoin (LTC)
Price: $124.81
24-Hour Gains: +2%
UNUS SED LEO (LEO)
Price: $9.20
24-Hour Gains: +1%
Top Losers Crypto Market Today
Story (IP)
Price: $5.86
24-Hour Loss: -2%
Virtuals Protocol (VIRTUAL)
Price: $1.01
24-Hour Loss: -12%
Raydium (RAY)
Price: $2.13
24-Hour Loss: -12%
The crypto sector continues to face immense volatility amid macro heat and liquidity hurdles, keeping investors uncertain about future movements.
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.
With the broader digital currency experiencing drawdowns, Solana (SOL) price has remained in the spotlight, drawing analysts’ insights. Expert trader Raoul Pal shared a bullish comment regarding SOL price in a recent post on X. He believes the coin is at its oversold level and will likely plot a rebound soon.
State of the Solana Price
Considering his X account, Raoul Pal said SOL is at 2 standard deviations oversold on the log regression channel. He pointed out that Solana is showcasing the lowest Relative Strength Index (RSI) since the 2022 lows. Per the onchain data, the RSI dropped as low as 25.73 on February 26, way below the oversold level.
As Pal pointed out, Solana is likely to grow significantly higher in the coming month. While he is not taking new positions at the current level, he implied that this period marks the best area to buy the dip.
According to CoinMarketCap data, the price of Solana was trading for $137.16, up marginally by 0.47% in 24 hours. Although the volatility is yet to clear, SOL has recorded more than 1.2% against Bitcoin within the same period. With the current outlook, the coin has now pared off its price over the past week which has dropped by 21%.
SOL Price Historical Trend in March
The odds of Solana soaring in the coming month is high, as the coin has historically soared in March. Data from Cryptorank pegs the average growth rate in the price of Solana in March at 32.4%.
In March 2021, SOL price jumped by 49%, complemented by a 23.2% rally in 2022. While the coin saw a 3.25% retracement, growth peaked in March 2024 when it skyrocketed by 60.8%.
If historical trends play out again, the coin may pare off its losses over the past month, now pegged at 39.5%.
Potential Growth Drivers to Watch
With Coinbase’s lawsuit dismissed by the United States Securities and Exchange Commission (SEC), it implies that the claim Solana is an investment contract no longer holds. Current improving regulations in the country have indirectly placed altcoins in a positive light.
With the cases closed and the regulator clarifying that memecoins are not securities, innovators may re-ignite the meme hype. Notably, this marked one of the biggest catalysts that drove the coin’s price to an all-time high above $294.
Ultimately, the Solana ETF hype may also continue, pushing the asset into a position for adoption by institutional investors if approved. With Franklin Templeton’s SOL ETF filing submitted to the US SEC, the participation is high, pushing the approval odds higher.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
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.
BitBoy’s claim of resurrecting ADA from the dead has drawn “gratitude” from Cardano founder Charles Hoskinson. The outspoken founder took to X to wish BitBoy well in his future endeavors outside the Cardano ecosystem amid a flurry of activity.
Cardano Founder Thanks BitBoy For Saving ADA With A Smirk
Crypto influencer Ben Armstrong aka BitBoy says he single-handedly saved Cardano from extinction with repeated claims that the network was dead. BitBoy made the assertion in a livestream, claiming that his use of reverse psyschology contributed to renewed institutional interest for Cardano.
By claiming that Cardano was dead, BitBoy says institutional investors flooded the ecosystem in a bid to prove him wrong.
“I have singlehandedly saved the ADA project,” said BitBoy on the livestream.
While his claims have triggered reactions, a video from the Cardano founder appeared on X thanking BitBoy for his efforts. Hoskinson, with a smirk, expressed gratitude to the cryptocurrency influencer, hinting at renewed institutional interest in the project.
“We’re very excited and glad that you’ve gotten what you needed to get BitBoy,” said Hoskinson with a glint of sarcasm. “Thank you for the kind words about Cardano.”
Institutional Interest In Cardano Soars In Recent Months
After enduring claims of the network has zero institutional interest for years, institutions are wading into Cardano. Institutional investors are eyeing a potential ADA spot ETF in the coming weeks, sending volumes to new highs.
There are whispers of Hoskinson meeting with a VIP in Florida, triggering speculation for a massive announcement in the offing. The Cardano founder confirmed a trip to Florida “to go do a thing,” leaving community members watching in anticipation.
On-chain analysis reveals a steady accumulation, signaling an ADA bullish run to previous highs. At the moment, ADA is trading at $0.6 with a market capitalization of $22.95 billion as ecosystem activity surges.
Aliyu Pokima
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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