Altcoin
Vine Coin Price Surges 60% Amid This Binance Announcement, What’s Next?
Vine Coin has recently emerged as the talk of the crypto town by witnessing major price gains and a listing. Notably, VINE price shot up nearly 60% on Friday as Binance unveiled a futures listing for the token. Further, in light of recent events such as Elon Musk fueled speculation over the revival of the Vine social media app, this new token has gained significant traction across the broader crypto industry.
Vine Coin Price Bullish As Binance Launches Futures Listing
In an official Binance announcement dated January 24, the crypto exchange revealed a perpetual contract launch for Vine Coin. As per the announcement, the crypto exchange’s futures division is launching the VINEUSDT perpetual contract with a maximum of 75x leverage for users at 10:00 UTC today.
As a result, the coin’s price saw considerable gains amid enhanced trade offerings and heightened market exposure. Moreover, the capped funding rate for the asset was set at +2.00% / -2.00% by the exchange. Altogether, the new futures listing on one of the top crypto exchanges has sparked substantial investor enthusiasm over the token’s future movements amid its recent hype.
Crypto Trader Makes Huge Returns Amid Vine Coin Price Surge
It’s also noteworthy that a crypto trader has made massive profits with Vine Coin, CoinGape recently reported. Notably, the token aided a crypto trader in turning a $270K loss into a $4.5 million profit with its massive price surge earlier. This saga has garnered further market attention towards the crypto amid Binance’s listing.
Elon Musk Fuels Speculation With Recent Comments
Simultaneously, it’s also worth considering that American billionaire Elon Musk’s recent comments around the revival of the Vine social media app have brought additional attention to the token. Notably, the Tesla & SpaceX lead recently posted about ‘bringing back’ the social media app, which appears to have added fuel to the fire surrounding the crypto.
Also, it’s worth mentioning that Rus Yusupove, the creator of the social media app, recently announced this new coin on X. Overall, these chronicles revolving around American prominencies have further bolstered the market sentiment for Vine Coin amid its recent price breakout.
VINE Shoots Up 60%
At the time of reporting, VINE Coin price witnessed a phenomenal 60% uptick in value and is currently trading at $0.2702. The coin’s 24-hour low and high were $0.1264 and $0.4289, respectively. Notably, the recent upward trajectory aligns with the heightened market interest amid Binance futures listing and speculations of the revival of the social media app.
Further, market watchers remain bullish on future movements in light of the abovementioned factors. Given that the social media app comes back to life ahead, the market sentiment orbiting this crypto could be further uplifted. Meanwhile, the futures listing paves the way for further money inflow into the token’s ecosystem, indicating more price gains are possible.
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.
Solana price experienced a sharp decline, reaching a multi-month low of $126.15. This represented a 57% drop from its highest value this year. However, the cryptocurrency rebounded to $145 following a major purchase by SOL whales.
Solana Price Stabilizes After Crash – Is a Rally to $180 Possible?
Solana price saw a major decline, falling from its yearly peak of $295 to $126.15. This drop marked its lowest level since September 6. The decline also led to a breakdown below the $170 support level.
Meanwhile, a Solana whale purchased $14 million worth of SOL, withdrawing it from Binance and staking the tokens. The accumulation occurred before a $1.75 billion token unlock, a typically bearish event. The purchase helped ease sell pressure and contributed to the slight SOL price recovery.
Despite the rebound, Solana price remains below key resistance levels. If the bullish momentum continues, traders target the $170 level as a short-term target. A breakout beyond this level could push SOL toward the $180 mark.
Meanwhile, according to a recent report, CME Group announced plans to introduce Solana (SOL) futures on March 17, subject to regulatory approval. This move positions Solana alongside Bitcoin and Ethereum as one of the few cryptocurrencies with futures trading on the platform. Market analysts suggest that the launch could strengthen the case for a potential Solana ETF in the future.
Solana’s Total Value Locked Declines by Nearly 50%
Solana’s total value locked (TVL) has dropped significantly in recent weeks. The TVL, which peaked at $12.19 billion, has now declined to $6.94 billion. The drop reflects lower investor confidence and reduced capital inflow into Solana-based decentralized finance (DeFi) projects.
The decline in TVL has been linked to the crash of top Solana-based meme coins. The market cap of Solana meme coins fell from $25 billion in January to $8.9 billion. This shift in capital has negatively affected the Solana network’s liquidity and overall market position.
While TVL remains under pressure, some Solana-based meme coins have started to recover. The overall DeFi activity on the network will be a key factor in determining the future movement of Solana price.
Key Resistance Levels to Watch
Solana price is approaching a critical resistance zone between $147.09 and $166.42. This area represents a fair value gap in the market. If SOL breaks above this range, it could signal a stronger recovery toward the $180 resistance level.
Supporting the bullish move by SOL whales, technical indicators suggest increasing momentum in favor of buyers. The Parabolic SAR (Stop and Reverse) indicator, displayed as dots above and below the price action, has shifted below the recent candles. This shift indicates a potential reversal from the previous downtrend. As long as the dots remain below the price, it suggests that buyers are in control, and the uptrend may persist.
Similarly, the Moving Average Convergence Divergence (MACD) indicator and its histogram reinforce this bullish outlook by SOL whales. The MACD line has crossed above the signal line, which is a classic bullish crossover indicating strengthening upward momentum.
Additionally, the histogram bars have turned positive and are expanding, confirming buying pressure. If the momentum sustains, Solana price might break key resistance levels toward $180.
More so, according to analysis, SOL price has shown signs of stabilization after crashing 40% and reaching extremely oversold levels. Historically, such deep RSI drops have often preceded price reversals, hinting that Solana price could regain upward momentum.
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 analyst DOGECAPITAL has predicted that the Dogecoin price can hit $10 in this market cycle. The analyst drew similarities between the DOGE’s current price action and that of the previous bull cycles to explain why the meme coin can reach this price target.
Why The Dogecoin Price Could Hit $10 In This Cycle
In an X post, DOGECAPITAL predicted that the Dogecoin price could hit $10 in this cycle and alluded to previous cycles as to why he is confident that DOGE can reach this price level. He remarked that the weekly Dogecoin chart highlights the price action of the previous two cycles.
As part of his analysis of this weekly chart, he noted that every fourth year, the top meme coin retests the same line (which he highlighted on his accompanying chart) before beginning the second phase of its parabolic move.
The Dogecoin price also looks to be performing better than previous bull cycles. The analyst mentioned that in 2024, DOGE had its best third-year performance, increasing 3.5 times in price, compared to 1.5 times in 2016 and 2.5 times in 2020.
DOGECAPITAL added that this explains why the current pullback for the Dogecoin price appears larger than the previous two cycles. However, based on history, the analyst opined that DOGE will hold around this line on the weekly timeframe, which is approximately $0.20.
Once this consolidation period is complete, the crypto analyst stated that Dogecoin is expected to move towards $1.70. This move will mirror previous cycles in which the meme coin hit the same parallel resistance level. DOGECAPITAL remarked that the second parabolic upward phase is likely to begin in the coming weeks.
DOGE’s Rally To $1 Could Happen Soon
Crypto analyst Trader Tardigrade also suggested that the Dogecoin price rally to $1 could happen soon. He noted that DOGE’s Relative Strength Index (RSI) has hit a critical level, potentially driving a massive rally. The analyst added that the next target of $1 remains unchanged.
In another X post, he revealed that Dogecoin was repeating a bullish historical pattern. In line with this, he assured market participants there is no reason to be bearish at this level. Instead, he advised them to focus on the big picture for the DOGE price.
DOGE whales look to be anticipating this Dogecoin price rally and are already accumulating more coins. Crypto analyst Ali Martinez revealed that these whales have bought 530 million DOGE in 72 hours.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. 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 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.
In a post on X, Shiba Inu marketing lead Lucie (@LucieSHIB) highlighted the potential impact of Ethereum’s forthcoming “Pectra” upgrade on Shibarium, the layer-2 (L2) solution built by the Shiba Inu ecosystem. Slated for release in April 2025, the Pectra upgrade merges two planned improvements—Prague (execution layer) and Electra (consensus layer)—into a single overhaul designed to enhance scalability, staking, and user experience on the Ethereum network.
How Shiba Inu Will Benefit From Pectra
Lucie underscored several benefits that Ethereum’s evolution could bring to L2 platforms like Shibarium. In her post, she noted that the upgrade “will make Layer 2 solutions faster, cheaper, and easier to use,” thanks in large part to innovative features aimed at reducing friction and improving accessibility. She elaborated: “Users won’t need ETH for gas fees when moving assets, reducing costs and friction.”
Moreover, there will be easier onboarding. New users can start using Layer 2 networks without first acquiring ETH, lowering entry barriers. Ultimately, the Pectra upgrade could result in a higher adoption of Shiba Inu.
“Flexible gas payments and better user experience mean more people will use L2s, driving growth and efficiency. This upgrade makes Ethereum’s ecosystem more accessible and affordable, giving Layer 2 solutions a huge boost,” Lucie concludes.
Ethereum’s Pectra upgrade combines multiple enhancements designed to streamline the blockchain’s core operations and bolster its efficiency. This includes account abstraction (ERC-4337) which enables gas fees to be paid in any ERC-20 token rather than just ETH.
According to Shibarium Updates (@Shibizens), this could open the possibility of using Shiba Inu ecosystem tokens—SHIB, BONE, or TREAT—for transaction fees on Ethereum, though actual adoption will hinge on wallet and protocol support.
Moreover, under Pectra, validators can stake up to 2,048 ETH—a major jump from the current 32 ETH requirement. While this increase could make large-scale staking more straightforward, it also raises questions about centralization if a smaller number of validators accumulate disproportionate amounts of stake.
Planned improvements to the Ethereum Virtual Machine (EVM) aim to reduce computational costs and accelerate execution times, making transactions cheaper for users. This, in turn, could enhance the affordability of L2 activity, benefitting Shibarium and other rollup-based solutions. A new data structure, Verkle Trees optimize how information is stored and validated on-chain, cutting down on node storage requirements and thus enabling smoother network operation.
PeerDAS (Peer Data Availability Sampling), designed to bolster L2 rollups by lowering costs and increasing throughput, could give solutions like Shibarium’s L2 an even stronger competitive advantage by improving how off-chain data is handled and secured.
While the potential for SHIB, BONE, or TREAT to become viable gas fee currencies exists, besides several performance improvements for Shibarium, experts caution that wide adoption of such functionality will rely on the active participation and support of wallet providers, decentralized applications (dApps), and broader Ethereum infrastructure. “[It] depends on adoption by wallets and protocols,” @Shibizens concludes.
At press time, SHIB traded at $0.00001329.
Featured image from Shutterstock, chart from TradingView.com
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