Connect with us

Altcoin

Dogecoin Price Prepares For Monster Rally In Q1, Here’s The ATH Target

Published

on


The Dogecoin price has been on a major bullish trend lately, achieving new highs driven by political events and market sentiment. As the top meme coin navigates the volatile market, a crypto analyst projects that DOGE could be gearing up for a monster rally in the first quarter (Q1) of 2025. The analyst has set a new ATH target for Dogecoin, expecting it to surge past the $1 mark. 

Dogecoin Price Rally To New ATH Incoming

On January 22, TradingShot, a crypto analyst on TardingView, declared that Dogecoin is preparing to reach a new ATH of $1.6 in Q1 2025. The analyst shared a chart examining the meme coin price action daily and highlighting key technical indicators and patterns supporting his bullish forecast.

According to the TradingView expert, the 1-Day 50 Moving Average (MA) is an important blue trend line currently acting as a support level for Dogecoin. He disclosed that the meme coin had previously attempted to break above this trend line; however, a recent pullback had pushed its price back to this support zone. 

The analyst noted that during Dogecoin’s past price action, between September and November 2024, it broke above the MA50, successfully retesting this critical support level and triggering a major price rally. This significant bullish trend lasted about two months, pushing DOGE to the 3.0 Fibonacci extension level after it hit a price bottom on August 5, 2024. Based on this pattern, the market expert suggests that for a similar rally to occur in 2025, buyers must reclaim the 1-D MA50 as a support level.

Dogecoin
DOGE’s path to a new all-time high | Source: TradingShot on Tradingview

The TradingView analyst’s chart compares Dogecoin’s current price action with its historical fractals in 2024. In both years, the meme coin experienced a period of correction followed by a bottom, as seen in the red triangle in the chart. 

After bottoming out, DOGE traded within a Descending Channel, which acted as a precursor to a breakout, ultimately sparking a major bullish rally. On both occasions, as indicated on the chart, Dogecoin’s 1-Day Relative Strength Index (RSI) sequence followed a similar downtrend before breaking out and paving the way for the price rally. 

Adding to the bullish narrative, Dogecoin experienced a Golden Cross on the daily chart earlier in this cycle. Here, the 50-day MV crossed above the 200-day MA, which is historically viewed as a bullish signal. 

If Dogecoin’s 1D MA 50 and price action follow the same path as historical records, it could replicate 2024’s bull rally, pushing it to the projected 3.0 Fibonacci extension target, corresponding with the $1.6 price level. 

DOGE Bull Flag Suggests Higher Price Target

While other analysts project a surge to $1 for the Dogecoin price, Trader Tardigrade forecasted on X (formerly Twitter) that the popular meme coin is preparing for a higher rise to $2. The analyst has identified the emergence of a bull flag pattern on the DOGE 2-day price chart.

He reveals that this bull flag pattern measures a $2 target for Dogecoin, marking a potential 471% increase from its current market price. As of writing, DOGE is trading at $0.35, reflecting a slight 3.1% decline in the past 24 hours, according to CoinMarketCap.

Dogecoin
DOGE trading at $0.34 on the 1D chart | Source: DOGEUSDT on Tradingview.com

Featured image from Unsplash, chart from Tradingview.com



Source link

Altcoin

Charles Hoskinson Reveals How Cardano Will Boost Bitcoin’s Adoption

Published

on


Cardano founder Charles Hoskinson says the network will play a key role in Bitcoin DeFi transactions in the future. With several partnerships and innovations in the works, Hoskinson says Cardano is bracing itself to explore layer 2 solutions on the Bitcoin blockchain,

Cardano Positions Itself For Bitcoin DeFi

In an interview with Scott Melker, Cardano’s founder has revealed ambitious plans for the network to turbocharge Bitcoin’s adoption for DeFi applications. Hoskinson notes that large financial institutions will trigger a demand for Bitcoin DeFi given their fiduciary obligation to create yield.

He notes that a Bitcoin ETF providing DeFi yields will trigger shareholders to demand similar yields. Hoskinson eyes a three-year timeframe for institutions to plant their feet in Bitcoin DeFi and UTXO DeFi.

Hoskinson says Cardano will combine Hydra with the Bitcoin Lightning network and build a trustless recursive bridge between both networks. The founder adds that its Aiken programming language will enabled to write both Bitcoin and Cardano scripts.

Furthermore, a partnership with Maestro, an infrastructure provider allowing Bitcoin integration with UTXO-based blockchain will provide a “turn-key experience” for users.

“It’s still early days but we are making methodical progress every step of the way,” said Hoskinson.

Hoskinson is moving on from his absence from the Crypto Summit at the White House, doubling down on technical innovation. He notes that the Bitcoin-focused plays by Cardano will not adversely affect the network’s road map.

Is Bitcoin Ready For DeFi Applications?

Hoskinson revealed in the interview that Bitcoin is ready for DeFi utility following the Taproot and the Lightning Network advancements. According to the founder, Taproot added programmability features to the Bitcoin network and Cardano will push the frontiers.

He adds that Cardano will enable Bitcoin users to engage in DeFi transactions while transacting with only BTC. Hoskinson says a merger between Bitcoin is enough to make Cardano’s DeFi significantly larger than Ethereum and Solana combined.

While the integration will send Cardano price soaring, ADA wallows at $0,6611 after losing 10% in a week. However, traders are targeting an ADA pump in May following the forming of a cyclical pattern.

An analyst argues that a price rally to $10 is not a crazy prediction given a streak of solid fundamentals and partnerships for Cardano.

 

✓ Share:

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.





Source link

Continue Reading

Altcoin

Ethereum Bitcoin Ratio Drops to Record Low, What Next for ETH?

Published

on


The world’s second-largest digital asset, Ethereum (ETH), struggles to keep up with Bitcoin. Market data shows that the ETH/BTC ratio has dropped to its lowest level in five years. Consequently, investors and analysts are now questioning whether Ethereum can recover in the coming quarter, considering Bitcoin may continue its long-standing domination in the digital assets market.

The Ethereum Bitcoin Ratio At New Lows

ETH performed poorly compared to Bitcoin in the first quarter of 2025. According to a recent update from The Kobeissi Letter, the Ethereum to Bitcoin ratio has dropped to 0.02, its lowest level since December 2020.

Historically, Ethereum has gained strength after Bitcoin halvings, but the trend has reversed. While Bitcoin price is going upward, Ethereum has struggled to gain traction.

Several factors have contributed to this decline. Bitcoin’s narrative as digital gold has strengthened, drawing more institutional investment. In addition, the coin has faced challenges, including relatively higher gas fees and competition from other blockchain networks. 

Unfortunately, the Ethereum Pectra upgrade, which experts believe could drive a price increase for the coin, faced some challenges. As reported by CoinGape, multiple testnet attempts failed before the Hoodi testnet that launched recently.

Some experts believe Ethereum’s transition to proof-of-stake has not delivered the expected market boost. 

Q1 Performance and ETF Downturn

The ETH price performance in the first quarter of 2025 has been disappointing. For context, data shows that the coin has dropped 46% this year, nearly 4 times more than Bitcoin’s decline of 12%.

Many investors expected a strong bull run, but Ethereum has remained weak. The adoption of spot Bitcoin ETFs earlier in the year attracted billions of dollars, but Ethereum has not seen the same level of interest for its potential ETF.

Market analysts suggest that institutional investors are still hesitant about Ethereum’s long-term value compared to Bitcoin. Bitcoin’s fixed supply and reputation as a hedge against inflation have made it a safer choice for institutional investors. 

Where is ETH Price Heading?

Some analysts believe ETH price could hit $10,000 if broader market conditions improve and the Ethereum Pectra upgrade launches on the mainnet. 

Others warn that if the coin continues to lose value against Bitcoin, investors may start shifting funds to other networks like Solana or Avalanche.

Even though short-term price predictions remain speculative, some traders expect Ethereum to rebound as Bitcoin stabilizes. Others believe the ETH/BTC ratio could drop even further. 

As of this publication, CoinMarketCap data shows that Ethereum’s price was $1,842.29, up 1.34% in the last 24 hours. Many experts believe that the coming days will determine whether Ethereum can regain strength or whether Bitcoin’s dominance will continue to grow.

✓ Share:

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.

Follow him on X, Linkedin

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.





Source link

Continue Reading

Altcoin

Elon Musk Rules Out The Use Of Dogecoin By The US Government

Published

on


Elon Musk has doused optimism for the US government to adopt Dogecoin at the America PAC town hall event. The head of the Department of Government Efficiency (DOGE) noted that the government agency only bears a nominal resemblance to the memecoin.

Elon Musk Dispels Rumors Of Dogecoin Adoption By The US Government

At a recent event, Tesla CEO Elon Musk cleared the air on the potential adoption of Dogecoin by the US government. In his keynote speech, Musk noted that the US government will not be adopting Dogecoin, contrary to swirling speculation.

Musk noted that the speculation gained traction following the launch of the Department of Government Efficiency (DOGE). Following the launch of DOGE and Musk tapped to lead the agency, enthusiasm for Dogecoin government utility reached new highs.

However, Musk clarified that the agency bears only a nominal resemblance to the memecoin, stemming from an internet trend. The Tesla CEO disclosed that the original intended name was the Government Efficiency Commission, opting for DOGE “because the internet is right.”

“The name is similar but they are two different things,” said Musk. “But there are no plans for the government to use Dogecoin as far as I know.”

Musk has a long and storied history with Dogecoin, famously shilling the memecoin and integrating DOGE payments for Tesla. Musk teased an anime-themed DOGE on X, setting the stage for a $2 rally for the memecoin.

DOGE Reacts Negatively To The News

Dogecoin price slumped by nearly 2% in the wake of the grim report. Currently, the memecoin is trading at 0.1660 as it eyes a push toward the $1 mark.

The negative fundamental adds pressure to reports of DOGE forming a falling wedge pattern, signaling a potential downward breakout. However, optimists are rippling with confidence that DOGE can shake off the negative sentiments to post new all-time highs.

One analysis claims that if the Dogecoin price breaks a 3-month trendline, an $8 valuation for the memecoin is in play. Others claim that the House of Doge Reserve launch will be a tailwind for Dogecoin price, sending the dog-themed coin on a strong rally.

✓ Share:

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.





Source link

Continue Reading

Trending

Copyright © 2024 coin2049.io