Altcoin
This Crypto Analyst Correctly Called The Dogecoin Price Crash, Here Are His Targets
The Dogecoin price is currently correcting after two weeks of intense price upticks that saw it reach $0.426 for the first time since its massive 2021 bull run. However, as is normal after such a crazy rally, the Dogecoin price now seems to be undergoing a brief correction as a few holders start taking profits or exiting their positions overall. Notably, the Dogecoin price is down by 8.5% in the past 24 hours and 13% since it reached $0.426.
Interestingly, this correction was called by a crypto analyst on social media platform X. According to crypto analyst Kevin, recent Dogecoin price action has led to the creation of a weird Dogecoin symmetrical triangle pattern, which could either lead to a correction or a continued upside move.
Analyst Says Symmetrical Triangle Favors Price Correction
Dogecoin has begun consolidating, which is quite normal before the continuation of a rally. As crypto analyst Kevin noted using the 1-hour candlestick timeframe, Dogecoin has been consolidating since November 12. This consolidation has been characterized by the creation of lower highs and higher lows, giving rise to a symmetrical triangle pattern.
Considering that it is coming from a bullish move, the symmetrical triangle has the highest chance of breaking to the upside. However, the analyst noted that there’s a higher chance of correction, especially due to the daily Relative Strength Index (RSI) signalling an overbought condition above 90. At the time of his prediction, Dogecoin was trading around $0.39. Since then, its price has declined further, reinforcing the case of a correction.
In the event of continued downward movement, Kevin identified a key support zone between $0.30 and $0.26, which aligns with the golden pocket retracement levels. This range represents a potential 30-40% correction from Dogecoin’s recent top at $0.426. “That’s a 30-40% correction from the local top, which in a bull market is a perfect size correction,” he said.
Keeping in mind the lingering bullish sentiment, Kevin acknowledged in a follow-up post that the Dogecoin price could defy his expectations, and he might be wrong about the consolidation leading to a major correction.
He suggested the possibility that the symmetrical triangle might actually be a bull flag pattern, which is more typically associated with bullish breakouts. If this is the case, the pattern could pave the way for an upward breakout that would drive the Dogecoin price toward a guaranteed target of $0.90.
Current State Of Dogecoin Price
At the time of writing, Dogecoin is trading at $0.37, having decreased by 8.5% in the past 24 hours. Nevertheless, Dogecoin is still on track to finish November with the best monthly gains in over three years. The next few days will be crucial in determining how this plays out; whether the consolidation phase resolves with a sharp correction or a rally to new highs.
Featured image created with Dall.E, chart from Tradingview.com
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.
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.
Crypto expert PiMigrate recently predicted that the Pi Network price could reach a new all-time high (ATH) of $5. This comes amid recent whale movements, with these investors moving 41 million Pi Coins off exchanges.
Expert Predicts Pi Network To Reach $5
In an X post, PiMigrate stated that Pi Network’s journey to $5 has just begun. He remarked that the altcoin has very strong support at $0.6. As such, the expert believes that this $5 price target is a “very possible valuation.” PiMigrate added that good utilities will push the altcoin to this target.
Another expert, Moon Jeff, also predicted that the Pi Coin price can reach this $5 target. In an X post, the expert concluded that the altcoin can reach this price target following his analysis.
He alluded to his accompanying chart, which he described as being bullish, indicating that the Pi Network price can indeed reach this $5 target. The chart also showed that the altcoin has formed a strong support level at its current price.
Crypto analyst Xia also recently claimed that the Pi Coin’s momentum is building fast after it surged past the $0.63 mark with strong volume. She also noted that the RSI and MACD are turning bullish for the altcoin.
This bullish outlook for the Pi Coin comes amid recent huge whale accumulation. A Pi community page revealed that these investors moved a whopping 41 million coins (around $27 million) off exchanges in 48 hours. Specifically, these whales moved over 13 million Pi Coins from OKX to several wallets. This presents a bullish outlook for the coin since exchange supply is declining.
Pi Needs To Reclaim This Symmetrical Triangle
While analyzing the Pi Network’s price on the higher timeframe, analyst Alpha Crypto stated that the altcoin needs to reclaim its symmetrical triangle to resume its upward move.
The analyst remarked that once Pi reclaims this structure, market participants can look for a potential long setup. He added that on the flipside, if the price falls outside the triangle, it could open up a short opportunity. Alpha Crypto urged traders to wait for confirmation rather than rushing.
From a fundamentals perspective, top exchange listings could send the Pi Coin price higher. CoinGape recently reported that top exchange HTX had fueled listing speculations with a cryptic post on its X platform. Meanwhile, Pi community members remain hopeful that Binance will soon list the altcoin.
These community members will have their eyes on the Consensus 2025 conference, where Pi Network founder Nicolas Kokkalis will allegedly join an exclusive list of industry players to speak at the event.
Expert Dr. Altcoin described the event as a pivotal moment for Pi Network, as it will provide an opportunity for the Pi team to promote the network’s ecosystem.
At the time of writing, the Pi Coin price is trading at around $0.63, down almost 3% in the last 24 hours. Trading volume is also down over 36%, with $96.34 million traded during this period.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
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.
Dogecoin investors have high faith in the future of the meme currency despite its recent price fall, market data showed, Tuesday.
Dogecoin fell to $0.153 as of April 16 after its price reached a high of $0.168 on April 13, down by 3% in the last 24 hours. This is after the recent price hike following US President Trump’s tariff halt declaration on certain countries on April 10.
Long Positions Dominate Market Activity
The mood among traders on Binance is firmly bullish for the future prospects of Dogecoin. Data from Coinglass show that over 74% of trading accounts have long positions in the cryptocurrency, while only 25% going short. This places the long-to-short account ratio at 2.90, proving widespread optimism among traders.
Long positions increased quickly on April 12, which shows that investors expect Dogecoin to bounce back from its present correction period. They are willing to pay premiums to maintain their positions, as evidenced by positive OI-weighted funding rate signals that have remained above zero since April 7.
Long|Short DOGE by accounts. Source: Coinglass
Holder Patterns Indicate Diversified Strategies
IntoTheBlock statistics reveal substantial shifts in the manner by which people are holding Dogecoin. Investors holding DOGE for over a year increased by marginally 0.13%. These types of “hodlers” as they are called within cryptocurrency forums constitute a solid support base for the currency.
Source: IntoTheBlock
In the meantime, mid-term holders (holders of DOGE for one to 12 months) decreased by 2.50%. Short-term traders experienced the largest increase, with addresses holding for less than 30 days rising by 109%. This new trader surge reflects increasing demand for quick profit from Dogecoin price action.
Technical Analysis Points To Future Price Directions
One TradingView account, FuaCompany, has plotted Dogecoin’s movement in what analysts call a rising channel. On the basis of this trend, two general scenarios for Dogecoin’s future price are on offer.
The first scenario shows Dogecoin rebounding from the lower edge of this channel and continuing to trend upwards. This would comply with what occurred before when the price rebounded back from $0.05 to higher levels.
The second scenario entails a temporary drop below the bottom line of the channel, plunging to around $0.08 before surging higher, both scenarios ultimately carrying long term bullish signals, with some projections estimating Dogecoin to even reach $0.70.
Weekly Performance Still Positive Despite Slump
Despite the recent slump, Dogecoin is still positive overall on the week. In fact, the cryptocurrency has shown quite a hefty rise-on-week for about 7.40% during the past week in spite of that dip.
DOGE price up in the last week. Source: CoinMarketCap
The price started off in early April with an initial volatility before strengthening with the Presidential Tariff declaration by Trump. Following the monthly peak on April 13, reaching 0.168, Dogecoin encountered what traders know to be a consolidation phase, where prices continue to trend sideways while forming in preparation for another move.
According to market observers, this pattern of gains and then consolidation is typical in cryptocurrency markets. The strong level of long positions shows most traders view the current price drop as just a temporary hiccup and not the start of a larger bearish trend.
Featured image from CoinFlip, chart from TradingView
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