Altcoin
Dogecoin Price Fluctuates In Ascending Triangle, Why This Is Very Dangerous
Dogecoin’s price action is on a correction path in the weekly timeframe, with the cryptocurrency currently down by about 13% in the past seven days. Although the broader crypto market sentiment appears positive, the king of meme coins is yet to take advantage of this and push above the $0.4 mark.
Technical analysis of the DOGE price chart shows that the cryptocurrency is fluctuating in an ascending triangle, which could be dangerous for the price trajectory moving forward.
DOGE’s Ascending Triangle Pattern: Opportunity Or Risk?
Andrew Griffiths, a crypto analyst on social media platform X, noted that Dogecoin is currently fluctuating up and down in an ascending triangle pattern. This pattern has been in play since the middle of December, and Dogecoin has repeatedly bounced off both the upper and lower trendlines of this pattern.
In his analysis, Griffiths noted that the ascending triangle currently shaping DOGE’s price movement holds both promise and danger. Historically, this pattern is mostly known to eventually lead to a breakout to higher levels, but it also has the likelihood of sharp declines if the price breaches key support zones within the pattern.
Naturally, the bullish trajectory should be the case, but Dogecoin’s lingering flunctuation within the pattern suggests that the meme coin might initially trend downwards, even if it were to eventually go on another rally. Griffiths mentioned that optimism following Donald Trump’s election has created a positive broader market sentiment, which could support Dogecoin’s upward momentum. However, he emphasized that this optimism might not shield the meme coin from the potential volatility tied to its lingering price action within this setup.
Can Dogecoin Rebound Upwards From Here?
At the time of writing, DOGE is trading at $0.36, reflecting a 2.6% gain in the past 24 hours after rebounding from $0.34. However, this daily recovery has done little to offset its broader performance, as Dogecoin remains down 13.2% over the past week. Analysis of recent price movements reveals that the meme coin has faced repeated rejections at a downward-sloping trendline in the past seven days.
As it stands, DOGE is now looking to break above this downward sloping trendline again. Another rejection here will prolong the downward price movement. The opinion in this case is that Dogecoin may have already topped this cycle, which would lead to another prolonged correction towards the $0.22 mark.
The other outcome is that Dogecoin breaks out of the trend line and go on an upward move from here. This is the more bullish option. According to technical analysis by crypto analyst Kevin (@Kev_Capital_TA), this is the more likely scenario for Dogecoin. He noted that despite the downtrend, DOGE is still trading above the macro golden pocket. However, he did note that this scenario would depend mostly on Bitcoin making the bullish move first.
Featured image from Unsplash, chart from Tradingview.com
SUI, a Layer-1 blockchain developed by Mysten Labs, continues to dominate headlines with a 5% surge in just 24 hours. This follows a consistent bullish trend and the anticipation of unlocking 2% of its total supply in February. But while SUI impresses, another contender, Nebula Stride (NST), is emerging as a game-changer poised to revolutionize how we think about crypto and real-world assets.
SUI’s Recent Price Performance and Developments
SUI is at the forefront with the introduction of Mystceti V2 consensus and Remora scaling, innovations set to revolutionize blockchain efficiency by 2025. These developments aim to process up to 120,000 transactions per second, positioning SUI as a direct competitor to Solana. Additionally, privacy enhancements through zero-knowledge proofs are on the horizon, promising a more secure user experience.
The market has responded positively, with SUI hitting a new all-time high in stablecoins, up 25.78% within the last 30 days. SUI’s upward trajectory is hard to ignore.
Additionally, from $0.90 in August 2024 to an all-time high of $5.35 on Jan 06, 2025, the token has grown exponentially.
SUI has also achieved a significant milestone with 50 million accounts, solidifying its position as a leading Layer-1 blockchain. The Total Value Locked (TVL) in Sui’s ecosystem soared to $1.75 billion by December 2024, showcasing increased investor confidence and activity.
Despite retracing slightly to the current value of $4.17, recent charts show SUI printing a Hidden Bullish Divergence on the RSI, suggesting potential for continued upward movement. Analysts on X have noted SUI’s price movement mirroring Bitcoin’s during the 2017 bull market, indicating strong bullish momentum.
However, while SUI celebrates its achievements, another cryptocurrency, Nebula Stride (NST), is poised to potentially eclipse these gains with its unique proposition:
Nebula Stride (NST): Bridging the Gap Between Crypto and Real-World Assets
Nebula Stride (NST) is transforming the blockchain landscape by allowing fractional ownership of tangible assets like real estate, art, and commodities. This opens up a market previously inaccessible to the average investor, potentially fueling massive adoption and price surges for NST.
Emerging as one of the top RWA tokens and early-stage cryptocurrencies, NST is priced at a mere $0.02, offering a low entry barrier with significant upside potential as the tokenization of real-world assets gains traction. The platform’s focus on user-friendly infrastructure and tangible asset investment could lead to high returns for early investors.
NST supports both institutional and individual investors through a robust ecosystem that includes asset management tools, educational platforms, and microloans. This inclusivity broadens its appeal, aiming to create one of the pioneers in the RWA sector.
- Nebula Stride (NST) Tokenomics
Why NST Could Outshine SUI
While SUI excels in blockchain performance, NST’s focus on RWAs gives it a unique edge. Here’s why:
- Broader appeal: NST’s integration with real-world assets attracts a diverse audience, including traditional investors seeking exposure to tokenized assets.
- Mass adoption potential: By simplifying access to high-value investments, NST can drive widespread adoption beyond the crypto community.
- Market disruption: Tokenizing RWAs could disrupt traditional investment sectors, unlocking new opportunities for both individual and institutional investors.
- Tangible utility: Unlike SUI, which primarily enhances blockchain efficiency, NST offers a direct connection to the physical economy, fostering stability and long-term growth, as one of the best new cryptocurrencies to invest in.
Final Thoughts: The Road Ahead for SUI and Nebula Strides
SUI’s developments in technology and expanding ecosystem, position it as a strong contender in the blockchain arena. Nevertheless, Nebula Stride’s pioneering approach of tokenizing real-world assets makes it a significant competitor for future leadership. Thanks to its affordable entry cost, adaptable infrastructure, and practical uses, NST is set to not only support but possibly surpass SUI in the cryptocurrency arena.
As the industry evolves, both SUI and NST demonstrate the immense potential of blockchain technology. While SUI sets new standards for performance and scalability, NST’s focus on bridging digital and physical assets could redefine the crypto space. Investors should keep a close eye on both projects as they navigate the exciting and rapidly changing world of blockchain innovation.
Jane Lubale
With over four years of experience in the cryptocurrency, Fintech, blockchain, and Web3 industries, I bring a wealth of knowledge and expertise to every piece I write. Backed by a Masters in Business Administration, my writing combines insightful analysis with a deep understanding of market trends, technological advancements, and regulatory landscapes. Whether crafting engaging articles, informative guides, or thought-provoking analyses, I strive to deliver content that informs, educates, and inspires readers in this rapidly evolving space.
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 analyst Trader Tardigrade has raised the possibility of the Dogecoin price rallying to as high as $20 in this bull run. The $20 price prediction came into the picture as the crypto analyst revealed what would happen if DOGE repeated previous cycles.
Dogecoin To Rally To $20 If This Happens
In an X post, Trader Tardigrade predicted that the Dogecoin price could rise to as high as $20 if it replicates its historical performance. He noted that Dogecoin experienced bull rallies after surpassing the previous candle body high in 20217 and 2021, with gains of 3,000% and 8,000%, respectively.
In line with this, he predicted that the Dogeocoin price could rally to as high as $20.68 if DOGE follows a similar pattern. Interestingly, Trader Tardigrade previously predicted that DOGE could rally to as high as $8 if it mirrors the 2017 bull run and rally to as high as $30 if it mirrors the 2021 bull run.
Meanwhile, the crypto analyst also suggested that the foremost meme coin could soon begin the next leg of its bull run. In another X post, he stated that the Dogecoin price has broken out a converging triangle and the moving average convergence divergence (MACD) shows a bullish crossover. He added that DOGE may start a bull rally from here.
Crypto analyst Ali Martinez also hinted a bullish reversal for the Dogecoin price. In an X post, he stated that the TD Sequential has presented a buy signal on DOGE’s hourly chart. This indicates that the foremost meme coin could be well primed to record another move to the upside.
DOGE’s Outlook Is Far From Bearish
In an X post, crypto analyst Kevin Capital made a case for why the Dogecoin price is far from being bearish. He stated that DOGE is still seeing fast expansion on the 50 and 200 moving averages after its weekly golden cross occurred. He added that the meme coin is above the macro golden pocket at $0.26 and is battling the macro .786.
In line with this, he suggested that there was no reason for market participants to be bearish on the Dogecoin price. However, in the meantime, he mentioned that he wasn’t focus very much on DOGE or other altcoins because the Bitcoin price will determine the next move in the market. The crypto analyst reassured that nothing has changed regarding DOGE’s bull run, stating that cycle tops don’t occur when everyone is bearish.
Crypto analyst Javon Marks also recently made a bullish case for the Dogecoin price, predicting that it could witness at least a 5x increase from its current level.
At the time of writing, the Dogecoin price is trading at around $0.35, down over 3% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Unsplash, chart from Tradingview.com
Solana DEX Jupiter’s native coin JUP price jumped nearly 8% on Saturday, primarily riding the back of remarkable community developments. Notably, the DEX platform has marked monumental strides, acquiring a majority stake in the crypto trading platform Moonshot, among other advancements. As an upshot, the native token’s price soared remarkably intraday, with market watchers anticipating further gains amid recent developments.
JUP Price Bullish Amid Jupiter’s Moonshot & Sonarwatch Acquisition Plans
Jupiter co-founder, going by the pseudo-name Meow, posted on X as of January 25, revealing that the Solana DEX has acquired a majority stake in Moonshot. Intriguingly, Moonshot is a crypto trading platform that focuses on meme coin transactions, and it has recently gained a large number of new users in the wake of the Trump token event and soaring focus toward the top meme coins. Primarily, the stake acquisition sparked significant market discussions, paving the way for collaboration between the entities for the “future of memes,” as indicated by the co-founder on X.
Further, it’s also worth pointing out that DEX acquired Sonarwatch, a Solana on-chain portfolio tracker. Notably, with this acquisition, the DEX aims to launch a page where users can track Solana’s on-chain activity. Overall, these movers appear to have cemented a bullish market sentiment for the DEX’s native coin, as seen by the recent upswing in JUP price.
Jupiter Goes Back Into Beta: What’s Happening?
Meanwhile, another X post by the DEX’s community today revealed that the platform is going into the beta phase as its reinvented platform is now live. The Jupiter Spot V2 has been introduced, with key features likely to be rolled out over the next few weeks.
Notably, the new reinvented platform is set to offer features such as ultra Mode, RTSE, organic scoring, smart trigger orders, Jupiter Shield, magical mobile updates, and major changes to perps and JLP, a liquidity token for the DEX’s perpetual platform. Altogether, this monumental feat has further uplifted the market sentiment for JUP price.
It’s also worth mentioning that the Solana DEX today revealed a revolutionary idea, allowing users to deposit JLP and borrow USDC. This maneuver further supports the stablecoin by offering higher utilization rates whilst also enhancing APY for JLP holders. In turn, broader ecosystem perspectives for Jupiter and its native token remain optimistic amid the abovementioned advancements.
JUP Price Soars 10%
At the time of reporting, JUP price witnessed a staggering 10% pump and is sitting at $0.9425. The coin’s 24-hour low and high were $0.8208 and $0.968, respectively. As mentioned above, the latest ecosystem developments appear to have sparked a bullish sentiment for the native token as it defies the broader crypto market trend. Traders also reacted positively to the announcements, as flagged by a 13% rise in the intraday trading volume to $441.88 million.
Coinglass data showcased an 18% surge in the coin’s futures OI to $263.87 million. Further, even the derivatives volume shot up by 30% to $1.08 billion. This indicated that the asset enjoys a bullish trend amid rising market interest, primarily driven by the latest ecosystem developments.
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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