21Shares has submitted a proposal to list a spot Dogecoin (DOGE) ETF on Nasdaq, aiming to provide traditional investors with direct exposure to the popular cryptocurrency. If approved, this would be the first spot DOGE ETF in the U.S., signaling a broader acceptance of altcoins in mainstream finance. The move reflects increasing demand for diversified crypto investment products and could pave the way for more altcoin ETFs in the future, following the success of Bitcoin and Ethereum-based offerings.
Solana (SOL) has been up nearly 18% over the last 30 days. SOL’s bullish structure remains technically intact, although some key momentum indicators show signs of weakening.
At the same time, Solana continues to dominate DEX volume and blockchain revenue rankings, reinforcing its strong position in the broader ecosystem. Here’s a closer look at the latest technical and on-chain developments for Solana.
Bullish Structure Intact for Solana, But Key Momentum Signals Weaken
Solana’s Ichimoku Cloud chart shows the price testing support near the top of the green cloud.
The blue baseline (Kijun-sen) and red conversion line (Tenkan-sen) have flattened and run close to the candles, signaling a loss of short-term momentum.
The green leading span (Senkou Span A) remains above the red span (Senkou Span B), but the narrowing distance points to weakening bullish momentum.
Despite this, BBTrend has stayed positive for 17 days since April 11, showing that broader momentum remains.
The BBTrend measures trend strength through Bollinger Band expansion or contraction; a falling BBTrend often signals slowing momentum or consolidation.
If BBTrend keeps falling, SOL could lose more momentum, but a buyer recovery could still lead to a fresh breakout attempt.
Solana Continues To Dominate DEX Volume and App Fees
Beyond DEX activity, Solana-based applications dominate the charts regarding blockchain revenue and fees.
Six of the top 10 chains and protocols — excluding stablecoins like Tether (USDT) and Circle (USDC) — are directly tied to the Solana ecosystem, with Pump and Jito leading the charge.
SOL at Key Decision Zone With 23% Upside Potential on Breakout
Solana Exponential Moving Average (EMA) lines remain bullish, with the short-term EMAs still positioned above the long-term ones.
However, SOL is now trading very close to a critical support level at $145, which has become an important area to watch. If this support is tested and fails, Solana price could quickly drop to the next support zone around $133.82.
In a deeper selloff scenario, the downtrend could extend further toward $123.41, significantly weakening the current bullish structure.
On the other hand, if buyers step back in and reinforce the uptrend, SOL could rally to test the $157 resistance level.
A successful breakout above $157 would strengthen the bullish momentum and potentially open the way for a move toward $180, offering around 23% upside from current levels.
Dogecoin price is now touching important support and resistance levels with experts trying to determine the future direction. As the top meme coin fluctuates near the support and resistance levels, market analysts have predicted the higher and lower possibilities. Both the technical analysis and historical data suggest how the prices could reverse higher or further consolidate in days to come.
Dogecoin Price Faces Critical Test: Will Support Hold or Break?
Dogecoin price is facing strong resistance at $0.176, with a Bearish Tweezer candlestick pattern forming on the daily chart. According to Trader Alan, this pattern is a strong reversal signal, suggesting that selling pressure is increasing. The resistance level has already seen a false breakout, where Dogecoin price briefly moved above $0.176 but failed to hold. This failure indicates weak bullish momentum and a possible downward move.
The analyst suggests that if the price moves lower, Dogecoin price could retest the $0.143 support level. If selling pressure intensifies, the meme coin may trade within a range between $0.143 and $0.176. A break below this support could trigger further declines, pushing the top meme coin to a deeper correction phase.
However, if buyers step in and defend the $0.143 level, Dogecoin price may continue consolidating within this range. Analyst states that for a bullish breakout to occur, DOGE must establish higher lows and build momentum near the $0.176 resistance level. A sustained move above this resistance could invalidate the bearish outlook, leading to an upward trend.
Analyst Ali Martinez has identified an ascending triangle pattern on Dogecoin price charts, indicating the potential for a breakout. This bullish pattern forms when higher lows develop while the price repeatedly tests a horizontal resistance level. In this case, the key range for a breakout is between $0.16 and $0.18.
Martinez suggests that if DOGE price closes outside this range, either upward or downward, a 16% price move could follow. A breakout above $0.18 could lead to further bullish momentum, while a breakdown below $0.16 may result in a sharp decline.
Source: X
Trendline at $0.14269 Could Influence Meme Coin Rally
Moreover, analyst DOGE Capital noted that Dogecoin price is following a historical pattern observed in past market cycles. The analyst points to a repeating structure where DOGE accumulates within a triangular wedge before breaking out. The key support level to watch is around $0.14269, which has previously acted as a launchpad for the meme coin rally.
DOGE Capital’s analysis suggests that when DOGE price retests this historical trendline, it tends to rebound and initiate a strong upward move. If this pattern repeats, DOGE could see another bullish breakout in the coming weeks.
Source: X
Meanwhile, following the Fed’s FOMC meeting, the meme coin has shown strong upward momentum. Analysts have identified key price targets at $0.38, $0.48, and $0.60, citing bullish market conditions and increased trading volume as driving factors.
The final week of July has seen a noticeable pullback across the crypto market, with Bitcoin (BTC) trading within a tight consolidation range. This muted performance has dampened broader market sentiment, dragging many altcoins lower.
Despite the cautious tone, retail interest in Nigeria—one of Africa’s most active crypto markets—has remained resilient. On-chain and social data reveal that Bonk (BONK), Sui (SUI), and Pepe (PEPE) have emerged as the top three trending altcoins in the country during the final week of July.
BONK
According to Ayotunde Alabi, CEO of Luno Nigeria, Solana-based meme coin BONK is among the top trending assets in Nigeria this week. The recent resurgence in the demand for meme assets has pushed BONK’s value up by over 150% in the past 30 days.
Alabi told BeInCrypto that BONK’s surge in popularity may be tied to the wider altcoin rally. Still, its appeal among Nigerian investors is also driven by its affordability and perceived upside. In a market where many top coins appear overbought, low-cost tokens like BONK offer speculative traders a chance to enter early and ride potential momentum.
“Interest could be based on the broader altcoin momentum, but investors could also be drawn to the low price entry point and potential for long-term growth,” Alabi pointed out.
The meme coin trades at $0.00003 at press time, up 7% in the past 24 hours. BONK could extend its rally toward $0.000038 if buying pressure is sustained. A successful breach of that resistance could propel the altcoin to reclaim its year-to-date high of $0.000040.
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On the other hand, if demand weakens, BONK’s price could dip to $0.000034.
SUI
This week, layer-1 (L1) coin SUI is another altcoin trending among Nigerian traders. According to Alabi, SUI’s resilience and rising visibility in Nigeria can be linked to its expanding ecosystem and increasing institutional validation.
With big names like Grayscale and VanEck backing the token through new investment vehicles, the CEO mentioned that Nigerian investors are paying closer attention to its long-term potential.
He added that the increase in SUI’s total value locked (TVL) over the past month signals a growing adoption and capital confidence in the network’s infrastructure. According to DefiLlama, this currently stands at $2.148 billion, rising by 25% since the beginning of July.
This uptick in TVL reflects increased market-wide participation and suggests that more users and developers are actively engaging with the Sui ecosystem.
SUI currently trades for $3.99. If network activity remains high, demand for the SUI coin will increase, pushing its price toward $4.09. A break above this level could trigger a move to $4.29.
However, if profit-taking continues, the coin’s value could dip to $3.68.
PEPE
Despite a slight pullback over the past week, PEPE also remains on Nigerian traders’ radar. According to Alabi, the coin has benefited from the broader memecoin revival, with gains of around 18% over the last 30 days.
He explained that the strong performance of more established tokens like Dogecoin (DOGE)—which gained roughly 30% in the same period—has helped to renew market confidence in smaller memecoins like PEPE.
PEPE trades at $0.000012 at press time, noting a 5% uptick in the past 24 hours. If buy-side pressure strengthens, the meme coin’s rally could reach $0.000014.
