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Dogecoin (DOGE) Price Drops 4% Amid Meme Coin Slump, What’s Behind The Underperformance?

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11 months ago

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While the rest of meme coins within the sector such as PEPE Coin and Dogfiwhat have delivered massive gains in the past few weeks, the largest meme coin Dogecoin (DOGE) has been an underperformer. In the last 24 hours, the DOGE price has dropped by another 4% under $0.16 amid the slump in the broader meme coin sector.

What’s Behind the Dogecoin Underperformance?

Market analyst Ali Martinez has been closely monitoring Dogecoin’s price movements. He highlights a critical resistance zone for DOGE between $0.166 and $0.171. If DOGE bulls can break through this level, the meme coin could potentially double in value, targeting the next resistance around $0.322.

On the other hand, while PEPE coin and WIF have been rallying, the demand for Dogecoin (DOGE) has dropped in the last week. According to data from IntoTheBlock, the daily number of addresses completing transactions involving DOGE has plummeted by 18% over the past seven days. Additionally, new demand for the meme coin has also decreased, with the number of new addresses created to trade DOGE dropping by 21% during the same period.

Courtesy: IntoTheBlock

A decline in an asset’s daily active addresses and new addresses suggests a decrease in overall trading volume. According to Santiment’s data, DOGE’s daily trading volume peaked at $3.01 billion on May 24 and has since dropped by 53%.

Trade Buys 2 Million DOGE Call Options

On Wednesday, May 29, a cryptocurrency trader bought 2 million Dogecoin (DOGE) call options with a strike price of $0.22. These call options expire the next month on June 14 meaning that the popular meme coin will have to surge another 31% from the current levels in order to be profitable.

The trade follows a bullish day in the meme coin sector, spurred by a sudden increase in Gamestop’s (GME) share price. Dogecoin reached a local high of $0.22 on March 2024 but has not exceeded that level since then. Bernd Sischka, chief commercial officer at derivatives exchange PowerTrade. said:

“I think altcoins have been lagging the recent run-up in ethereum and for most traders look at what ETH is doing and imply potential moves for altcoins. The ETF apporval drove the ETH rally but I think with doge the wild card is that Elon Musk adds it to Twitter as some sort of payment currency.”

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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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Will Cardano Price Break Out Soon? Triangle Pattern Hints at 27% ADA Surge

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42 minutes ago

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April 21, 2025

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Cardano price appears to be inching towards a key breakpoint as it continues to consolidate within a symmetrical triangle pattern visible on its price chart. According to cryptocurrency analyst Ali, this formation could help ADA in a major price movement.

Cardano price predicted to surge 27%

In a recent tweet, Ali suggested that Cardano might be in the early stages of breaking out from this consolidation pattern. The symmetrical triangle visible on the price chart shows converging trendlines that have contained ADA’s price movement since early April 2025.

The symmetrical triangle pattern forming on Cardano’s chart is a period of consolidation where buyers and sellers reach a temporary equilibrium. According to technical analysis principles, symmetrical triangles often serve as continuation patterns, with the breakout direction typically following the prior trend.

In Cardano’s case, the breakout yields the potential 27% price movement mentioned by Ali. The analyst has pointed out that Cardano might be in the early stages of breaking out from this pattern. The analysis by Ali comes as Cardano bulls secure the most important signal to drive a price rally.

Cardano is currently trading at $0.6424 with a 4.3% increase over the past 24 hours. Despite this short-term gain, ADA remains down nearly 10% over the past 30 days.

ADA sentiment remains neutral

Current market sentiment surrounding Cardano is mixed despite the potentially bullish technical setup. According to data from CoinCodex, the overall sentiment toward ADA is currently classified as “Neutral.” However, the Fear & Greed Index shows a reading of 39 and places it in the “Fear” category.

Looking ahead, CoinCodex projects that Cardano’s price could rise by 18.55% to reach $0.765833 by May 21, 2025. While this forecast falls short of the full 27% move suggested by the triangle pattern analysis, it aligns with the general direction and timeframe for a potential upside breakout.

The platform’s analysis of Cardano’s recent performance shows that ADA recorded 14 green days out of the last 30, which is a 47% positive day ratio. Price volatility over this period also stood 7.31%.

Despite the current “Fear” reading and mixed sentiment indicators, CoinCodex concludes that it’s now a good time to buy Cardano based on their technical indicators. However, the next move by ADA could very well be based on the overall market conditions too.

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Vignesh Karunanidhi

Vignesh Karunanidhi is a seasoned crypto journalist with nearly 7 years of experience in the cryptocurrency industry. He has contributed to numerous publications, including WatcherGuru, BeInCrypto, Milkroad, and authored over 10,000 articles

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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Expert Reveals Why BlackRock Hasn’t Pushed for an XRP ETF

Published

6 hours ago

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April 21, 2025

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With Ripple’s XRP lawsuit settlement finally in place, the crypto community is abuzz with anticipation over a possible XRP ETF launch. Despite the growing frenzy over XRP exchange-traded funds, the world’s largest asset management company, BlackRock, remains silent, sparking significant attention.

Detailing BlackRock’s vision and possible reasons behind its silence, expert All Things XRP shared a series of X posts. Let’s explore the expert’s threads, reading through the key points that shed light on BlackRock’s strategic approach to crypto investments.

Why Is BlackRock Silent on XRP ETF?

In a series of X posts, expert All Things XRP shed light on BlackRock’s strategic moves that steer them away from an XRP ETF. According to the expert, BlackRock’s hesitation to launch an XRP exchange-traded fund is driven by many factors regulatory concerns, market dynamics, and strategic considerations.

BlackRock Focuses on Bitcoin and Ethereum

Notably, the asset manager’s focus on Bitcoin and Ethereum ETFs is one of the main reasons to shy away from XRP. BlackRock is currently riding the wave of success with Bitcoin and Ethereum.

Reportedly, iShares Bitcoin Trust boasts over $30 billion in Assets Under Management (AUM). In addition, BlackRock’s ETH ETF has reached $1 billion in AUM in just two months. In light of this success, the platform is cautious about exploring other altcoins to mitigate potential risks.

Moreover, XRP may not meet BlackRock’s internal thresholds for demand, liquidity, and legal clarity. According to the company’s ETF executives, only Bitcoin and Ethereum currently meet these requirements.

Regulatory Concerns

As noted by the expert, regulatory concerns play a major role in BlackRock’s hesitation to back Ripple. Although both Ripple and the SEC dropped their appeals in the XRP lawsuit, the case is not officially over, with the label of “security” still lingering around.  This uncertainty may deter the investment giant from applying for an XRP ETF.

Recently, All Things XRP shared insights on CEO Brad Garlinghouse’s crucial role in Ripple’s growth.

BlackRock’s Strategic Wait-and-See Approach

Interestingly, BlackRock is adopting a cautious approach, waiting for competitors like Grayscale and Franklin Templeton to launch their XRP ETFs. While these platforms will face the possible regulatory hurdles first, it will pave the way for BlackRock’s easy entry into the ETF space. This approach will also allow BlackRock to gauge institutional appetite for XRP products and assess the risk landscape.

Whoever takes the lead, an XRP ETF launch is poised for a significant price surge in the Ripple coin.

In addition, the asset manager’s fake XRP ETF filing in 2023 has further strengthened their cautious stance. Previously, the filing went viral and sparked ambiguity within the crypto market. The investment firm had to publicly deny involvement, potentially damaging their reputation. This incident might have made them cautious about pursuing an XRP ETF, at least for now, as they may want to avoid similar PR issues.

Will BlackRock Launch an XRP ETF?

Additional factors like lack of demand and XRP’s relatively small market share have also contributed to the asset manager’s decision. However, BlackRock is expected to push for an XRP ETF in the future after tackling all the possible hurdles.

BlackRock is known for launching products at the right moment, when the odds are in their favor. The strategic move is expected when XRP meets complete regulatory clarity and market stability. As per All Things XRP, BlackRock is envisioning dominating the market. The expert cited, “But if and when they do, it’ll be to dominate the space — not just participate.”

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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.





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Expert Says Solana Price To $2,000 Is Within Reach, Here’s How

Published

11 hours ago

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April 21, 2025

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While investors are scanning the horizon for a short-term Solana (SOL) rally, cryptocurrency expert CryptoCurb is predicting an ultra-bullish price movement. CryptoCurb argues that a Solana price of $2,000 is “absolutely realistic” given the current fundamentals and on-chain indicators.

Solana Price To $2,000 Is A Realistic Projection

Pseudonymous cryptocurrency analyst CryptoCurb is predicting a massive growth spurt for Solana in the near future. In an X post, the expert says the Solana price can achieve a valuation of $2,000 given its impressive network metrics.

He hinges his projection on several factors, including Ethereum’s previous price performance. Ethereum price spiked to a $600 billion market capitalization during the last cycle with its steep fees and scalability issues.

A $2K SOL price will translate to a $1 trillion market capitalization that will see it flip Ethereum as the largest altcoin. CryptoCurb notes that if Ethereum can post impressive figures during the last cycle, Solana has the capabilities to be valued at $2,000.

“2K is absolutely realistic if Solana keeps its global adoption pace with minimal disruptions and continues to scale,” said CryptoCurb.

Rising network inflows are expected to send the Solana price on a short-term rally to $150 before a big push to $2K. Currently, the Solana price is pegged at $140 with a market capitalization of $72.6 billion, making CryptoCurb’s prediction an uphill climb.

A Wave Of Impressive Metrics Around SOL

While CryptoCurb did not disclose an exact timeline for his $2,000 prediction, he points to a short-term seismic price increase. The expert his backing his predictions with a swathe of network metrics pointing to fresh bullishness.

Solana has the highest number of active addresses over the last seven days at 28.4 million. The network led the pack for transactions at 369 million, trouncing Tron, BNB Chain, Base, and Bitcoin.

Solana is finding application in several Web 3 verticals given its speed, low cost, and scalability. In the last week, the Solana price has risen by nearly 7% while 24-hour trade volume has risen by 36%.

Last week, Canada launched the first SOL ETF with prices projected to surpass $250, reversing a forming death cross. Solana open interest crossed 5.5 billion, climbing by 10% amid rising whale activity in the ecosystem.

Rising bullish metrics for the network suggest that SOL will reach $200 before ETH reclaims $3,000.

 

 

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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.





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