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Will Dogecoin Price Crash 44% Amid DOGE Death Cross Pattern?

Published

2 months ago

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Dogecoin price is down 3% in the last 24 hours as the entire meme coin has come under pressure following the rug pull incident in LIBRA meme coin, launched by Argentinian President Javier Milei last weekend. Technical charts for DOGE flash warning signals amid the formation of a death cross pattern for DOGE MVRV. Confirming the bearish trend, a renowned analyst predicted a likely 44% crash in the top-meme coin’s value ahead.

Dogecoin Price Can Correct 44%, Says Analyst

Popular crypto analyst Ali Martinez noted that DOGE could be heading for a challenging period amid a bearish technical chart pattern. Martinez highlighted a “death cross” between Dogecoin’s Market Value to Realized Value (MVRV) ratio and its 200-day moving average (MA).

The analyst stated that historically, such chart patterns have led to significant declines, with Dogecoin price dropping 26% and 44% during the last two instances of this pattern. If this happens, DOGE could collapse all the way to $0.15 from the current levels.

Source: Ali Martinez

Meme Coins Take A Massive Hit

Over the past weekend, the Dogecoin price has corrected 7% as the broader meme coin sector takes a major hit following the launch of Argentina’s LIBRA meme coin, which faced a massive pump and dump. Apart from top players like Dogecoin and Shiba Inu (SHIB), celebrity meme coins have taken the most hit.

Furthermore, as per the Coinglass data, the DOGE futures open interest has tanked 5.27% to $2.41 billion while the 24-hour liquidations have shot up to $3.57 million of which, $3.1 million is in long liquidations.

Source: Coinglass

DOGE Traders Remain Optimistic

Despite the technical charts suggesting bearishness for Dogecoin price, traders continue to be optimistic about gains moving ahead. Furthermore, with developments around the SEC’s potential approval of a spot Dogecoin ETF, the optimism remains intact. Last week, the U.S. Securities and Exchange Commission (SEC) acknowledged the DOGE ETF filing by asset manager Grayscale raising further hopes within the crypto community.

Crypto analyst Bluntz has expressed optimism about Dogecoin (DOGE), highlighting its stability after two weeks of consolidation following a recent capitulation event. “$DOGE is looking pretty solid here, in my opinion,” Bluntz noted, adding, “If there’s one saying that’s always stuck with me, it’s never short a dull market.”

Source: Bluntz

The analyst’s remarks suggest that Dogecoin’s current quiet phase could indicate potential strength, with traders keeping a close watch for future price movements.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

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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CZ Honors Nearly $1 Billion Token Burn Promise

Published

6 hours ago

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April 17, 2025

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The BNB Foundation has reached its 31st quarterly token burn, taking 1,579,207 tokens out of circulation. This colossal decrease, valued at about $916 million at today’s prices, reaffirms the project’s long-standing dedication to reduce its overall supply.

Burn Size Records Marginal Decline From All-Time High

The latest burn is reported as a dip from the previous quarter’s all-time record. The 30th quarterly burn destroyed 1.634 million tokens worth approximately $1.16 billion. The earlier burn destroyed 1.524 million tokens via the Auto-Burn system and approximately 110,000 units via the Pioneer Burn Program. The latest burn didn’t see any tokens from the Pioneer program.

Token Supply Close To Halfway Point To Achieve Target Goal

By means of this last cut, BNB has collectively burned around 40.89 million tokens now. At a price of $581 per token, this equates to the value of some $23.75 billion eradicated from supply forever.

The original plan in the ecosystem as described in its whitepaper has been to halve the entire supply from 200 million down to 100 million tokens. The supply that exists now amounts to about 139.311 million tokens, leaving the token almost halfway toward its final mark.

BNB is currently trading at $583. Chart: TradingView

Market Position Continues Strong Even Amid Community Worries

The circulating supply continues to be the fifth-largest in market capitalization, with its value at around $81 billion. It is the leading exchange token in the market.

Some of the community members have raised the issue of whether it is rational to burn amounts this big when the money can be used to fund marketing initiatives instead.

Asked how these issues can be addressed, Binance founder Changpeng Zhao replied that the burn mechanism is a promise set forth in the token’s whitepaper, remarking simply: “A promise is a promise.”

Multiple Burning Methods Drive Systematic Supply Reduction

According to data from the foundation, BNB has two mechanisms in place to control its token supply. The first is the quarterly Auto-Burn which varies according to price and network usage. The second occurs real-time via BEP95, burning tokens within gas fees network-wide. All tokens burned are directed into a provable “black hole” address where they are irretrievable from circulation.

The Binance coin token has various roles in its ecosystem, fueling transactions on BNB Smart Chain, opBNB, and Greenfield networks. In addition to paying for transaction fees, it is used as a governance token and reserve asset and also fuels ecosystem growth.

Featured image from Pexels, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.





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Coinbase Reveals Efforts To Make Its Solana Infrastructure Faster, Here’s All

Published

7 hours ago

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April 17, 2025

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Coinbase exchange has made significant improvements to its Solana network infrastructure to enhance speed, resiliency, and scalability. The exchange further said that certain technical improvements have been implemented that have boosted performance numbers for Solana transactions on the exchange.

Coinbase doubles down on Solana ecosystem commitment

As per Coinbase’s announcement, the enhancements comprise asynchronously processing transactions. This has seen block processing throughput increase five times. The company has also introduced bare metal machines that have seen RPC (Remote Procedure Call) performance improve four times. These enhancements come with better failover mechanisms, liquidity optimizations, and enhanced operating controls to enhance the overall system resilience.

Coinbase upgraded its infrastructure, which means it wants to improve its Solana features as more and more people use the blockchain. The exchange highlighted that these technology upgrades will enable it to process transactions more effectively and dependably for senders and receivers of SOL and Solana tokens.

Coinbase said that this work is part of their dedication to achieving the best performance for Solana transactions. The company said that they will keep working on it and plan to invest more in Solana infrastructure to keep up with the growing demand as the network grows.

The upgrades are happening now because more institutional investors and developers are becoming interested in Solana. Coinbase has changed how it manages Solana’s fast blockchain by processing transactions at the same time. The announcement comes as Canada is set to approve multiple spot Solana ETFs this week.

SOL price shows bullish indicators amid institutional interest

As Coinbase improves its technical infrastructure for Solana, analysts are noting positive price action for SOL. Analyst Andrew Griffiths has identified several bullish technical indicators in his recent analysis of Solana’s price movements.

According to Griffiths, Solana has broken out of a descending parallel channel on the daily chart, retouched the trendline, and begun moving upward. The price has remained above the 21-day exponential moving average (EMA) for several days and remains above solid support around the $117 level.

Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators are still in a bearish trend on daily charts but are moving closer to the positive axis.

MACD and RSI are both bullish on the 4-hour time frame. Price is over the 22-period EMA, and the 21-period EMA is over the 55-period EMA. The 200-period EMA has been stable with current price action, and current candles have closed over all EMAs.

Institutional interest in SOL also appears to be growing, with analyst Gordon reporting that real estate firm Janover has purchased an additional 80,567 SOL worth approximately $10.5 million. This acquisition brings Janover’s total Solana holdings to 163,651 SOL in its treasury.

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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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Analyst Claims Pi Network’s Momentum Is Building Fast As Pi Coin Looks To Reclaim $1

Published

8 hours ago

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April 17, 2025

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Crypto analyst Xia has claimed that Pi Network’s momentum is building rapidly, having recently surged past the $0.60 mark. Analysts have also predicted that the Pi Coin price could soon reclaim the $1 level, providing a bullish outlook for the coin, which has underperformed thus far.

Why Pi Network’s Momentum Is Building Fast

In an X post, Xia asserted that Pi Network’s momentum is building fast. The analyst noted that the Pi Coin price has surged past $0.63 with strong volume, reaching a high of $0.6441 before settling into a consolidation phase.

She added that the Relative Strength Index (RSI) is climbing while the Moving Average Convergence Divergence (MACD) is also turning bullish. Xia also alluded to Pi Network’s fundamentals, which are bullish for the Pi Coin price, stating that there were over 58,000 sellers and 1.8 million users on the Map of Pi during the Pi Fest adoption.

She remarked that these bullish fundamentals are undeniable and questioned why market participants were still fading Pi coin. While the analyst is bullish on the altcoin, experts like Dr Altcoin have discussed how to prevent a Pi Coin crash.

Dr. Altcoin recently called on the PiCoreTeam (PCT) to lay a proper foundation to prevent steep price drops for the token. The expert made this call in the wake of the OM price crash, with the altcoin dropping as much as 90%.

Three Factors That Could Stop Pi Coin From Falling

In another post, he outlined three factors that could stop Pi Network’s price from falling. First, he stated that there is a need to increase the number of KYB-approved exchanges for Pi Coin and expand the reach of already approved ones, such as OKX, into restricted markets, as this could grow the Pi user base and boost demand.

Secondly, he stated that Pi Coin needs more institutional buyers, with companies like BANXA purchasing up to 100 million Pi directly from Centralized Exchanges (CEXs) to help absorb the coin’s supply. A CoinGape market analysis recently revealed that Pi Coin could rally to as high as $30 if major US Banks start using Pi Network.

Lastly, Dr. Altcoin stated that there should be major updates from the Pi Core Team. These updates could include impactful announcements and product launches that significantly increase the demand for Pi and help stabilize Pi Network’s price.

A Rally To $1 Could Be On The Cards

Crypto analyst Moon Jeff recently predicted that the Pi Network price could soon reclaim $1. He remarked that Pi Coin is holding the support at $0.61 nicely. As such, he expects a pump towards the $1 resistance.

Crypto analyst PiNewsZone also asserted that the Pi Coin price will be unstoppable once it pumps above $1. The analyst urged market participants to be patient and continue accumulating as many coins as possible.

However, it is worth noting that CoinGape’s Pi Coin prediction page indicates that the altcoin may not reach $1 anytime soon and is likely to continue consolidating within this range.

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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.





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