The recent surge in Bitcoin’s (BTC) price has led to a significant change in investor behavior. Long-term holders have started taking profits, causing the market’s realized value to reach a new all-time high. MVRV Ratio Signals Potential Bitcoin Sell-Off Data from Glassnode shows that BTC’s realized cap has surpassed $900 billion for the first time. This peak value indicates that investors are locking in gains after holding onto their assets for many months. Many long-term holders are in a strong profit position following the latest BTC price rally. Also, the market value to realized value (MVRV) ratio has entered what analysts call the “euphoria zone.” The ratio measures whether investors are sitting on unrealized gains, while this zone is a phase where investor profit-taking reaches extreme levels. This ratio is over 3.2 for long-term Bitcoin holders, like Michael Saylor’s Strategy, which just bought 4,020 BTC, suggesting that, on average, their… Read More at Coingape.com
Dogecoin price has recently experienced a notable decline after failing to clear key resistance levels. Despite this, several analysts are forecasting a potential rally, with some projections suggesting that Dogecoin’s price could reach $2 soon.
Dogecoin Price Key Support Levels
Dogecoin price has shown significant price fluctuations over the years. After failing to break past the $0.180 mark, the cryptocurrency dipped below several support levels, including $0.1750, $0.1720, and $0.1620. At one point, the DOGE price traded close to $0.1550, demonstrating the current bearish sentiment in the market.
However, analysts are closely watching Dogecoin’s behavior around the critical Fibonacci retracement levels. According to crypto analyst Tarder Tardigrade, the 0.5 and 0.618 levels are significant because it is usually on these levels that bulls and bears create their turning points. In the past, the Dogecoin price has always regained these levels, marking them as support levels. At the moment, Dogecoin is trading higher than these levels, which may signal a reversal.
Technical analysts believe that if the price of Dogecoin stays above these levels, it is capable of moving higher in months to come. This would be similar to past trends where at some levels, Dogecoin rises sharply after consolidating at those levels.
Analysts Project $2 Target for Dogecoin Price
Currently several analysts believe that the Dogecoin price will soon go to $2. Tarder Tardigrade, an analyst, has pointed out that the cryptocurrency is on the verge of a breakout. Based on his technical analysis, the current DOGE price formation has characteristics similar to the previous descending channel followed by a parabolic rise.
Tardigrade pointed out that the DOGE price could form an ascending triangle in the range of $0.1732 to $0.1740 where an upthrust could occur to set the bulls on the charge. If this occurs the next levels of resistance exist in the region of $0.1800 to $0.1850 and if the price is to breach this region then a bigger rally can follow. According to his observation, if it follows the same trend like past bull cycles, Dogecoin price could rise to $2.
In addition, another analyst, Dynamite Trade, opined that Dogecoin has maintained a bullish outlook in the long run. By his estimation, the cryptocurrency is in a cycle and could possibly go up to $5.00 in the next phase of the market. This forecast is based on the established rising support trend observed during previous cycles, which continues to indicate a positive long-term outlook for Dogecoin.
Potential Catalyst: Dogecoin ETF Approval
A significant potential catalyst for Dogecoin’s price could come from developments in the broader cryptocurrency market. Speculation is growing around the possibility of a Dogecoin exchange-traded fund (ETF) being approved by the end of 2025. Current projections, according to Polymarket, suggest a 69% chance that the Dogecoin ETF could be approved by December 31, 2025.
Source; Polymarket
If the Dogecoin ETF is approved, it would allow institutional investors to gain exposure to the cryptocurrency in a regulated manner. This could lead to a surge in demand for Dogecoin, further driving up the DOGE price. The approval of such a product would also bring additional legitimacy to Dogecoin as an asset, potentially attracting more retail and institutional investors.
While the Dogecoin ETF remains speculative at this stage, analysts believe that its approval could act as a significant catalyst for price growth, with some projecting that Dogecoin could reach new all-time highs. Should the ETF come to fruition, it could provide the momentum needed for Dogecoin to break past previous resistance levels and continue its upward trajectory.
Solana price may be poised for a parabolic rally after Wall Street giant VanEck hailed a new proposal to reduce the annual SOL inflation rate to 1.5%. This proposal will commence voting on March 6, 2025, and if implemented, it could reduce Solana’s supply significantly and drive price growth. As the Solana community votes on the proposal, will it ignite a parabolic rally for SOL to a new ATH?
VanEck Says New Inflation Proposal Will Boost Solana Price Value
Solana price has been under bearish pressure due to FTX unlocks. However, VanEck believes that a new proposal could shift the market sentiment, In its recent monthly report, VanEck hailed the SIMD 0228 proposal whose vote is scheduled today. It noted that the proposal was the “most impactful” to Solana price as it would reduce the annual inflation rate from 4.7% to 1.5%. Per the asset manager,
“We believe lowering inflation is a worthy goal that strengthens Solana’s long-term sustainability. Maintaining a predictable and low inflation rate can support SOL’s value by reducing dilution and sell pressure.”
The head of digital assets research at VanEck, Matthew Sigel, had also supported the proposal, saying it could stabilize and strengthen Solana’s position in the crypto industry.
VanEck Head of Digital Assets Research
Despite the optimism, the upcoming upgrade has also received opposition. According to one member of the Solana community, this proposal would reduce the amount of Solana being staked and compromise network security.
Solana Technical Analysis – Is a New ATH in Sight?
If the Solana SIMD 0228 proposal passes the community vote, it could stir a parabolic rally for Solana price. At press time, SOL trades at $146 after a 3.3% rise in 24 hours.
According to analyst Crypto Rand, Solana price was forming a bull reversal on its daily chart. The altcoin was attempting to break from a descending trendline to confirm this reversal. Looking at past trends, a decisive breakout from this trendline has often preceded a parabolic price rally. This could set the stage for a surge to an all-time high.
SOL/USDT: 3-day Chart
Another analyst CryptoCurb has an even more bullish Solana price prediction. In his analysis, he noted that Solana had entered had entered a demand zone where buying pressure has previously been strong. If Solana were to bounce from this zone, it could make a massive rally towards $1,000.
SOL/USD: 2-Week Chart
Solana price is struggling to bounce past $150. However, the proposal to reduce inflation could bode well for SOL in the long term. If the proposal passes, it could also spike short-term volatility as traders anticipate the effects that it will have on the price.
The cryptocurrency market capitalization surpassed $3 trillion on Wednesday, with more money flowing into altcoins. Despite $1 billion inflows in BlackRock’s IBIT ETF, Bitcoin has stayed below $95,000.
After a week of holding steady, major altcoins broke key resistance levels on Tuesday. Ethereum and Cardano led the way with 2% gains, outpacing Bitcoin’s 0.6% rise. This shows growing momentum for altcoins, with many market watchers hinting that altcoin season could be here.
ADA Set For Major Breakout
After a strong recovery last week, Cardano is currently trading at $0.7019, up 0.4% in the past day. Analyst Mintern believes that ADA could be gearing up for a major breakout. The current setup mirrors the 2020 inverse head-and-shoulders pattern that led to an explosive rally. He believes that the real bull run hasn’t even started yet.
Analyst Ali Martinez also believes that Cardano is heading toward a crucial test at $0.74; if it breaks above, it could rally to $0.88.
Cardano Surpasses Ether in Developer Activity
Recently, Cardano has surpassed Ethereum in developer activity, which has sparked fresh excitement, hinting at a possible rally for Cardano. Data from Cryptometheus shows that Cardano has outpaced Ethereum in core developer activity over the past year, with 21,439 GitHub commits across 550 repositories.
The Cardano ecosystem thrives with 38 projects and 4,012 public repositories. However, developer engagement has decreased by 10.28% this month, with 262 developers making 1,845 commits, marking a 19.2% decline from the previous month.
Besides, Hoskinson recently announced that Cardano is set to integrate Bitcoin into its Lace wallet, which will allow BTC holders to access Cardano DeFi with a simple one-click feature. Hoskinson says Cardano’s ADA could hit $3, $5, or even $10 if the community backs the proposed development plan and budget.
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The cryptocurrency market capitalization surpassed $3 trillion on Wednesday, with more money flowing into altcoins. Despite $1 billion inflows in BlackRock’s IBIT ETF, Bitcoin has stayed below $95,000. After a week of holding steady, major altcoins broke key resistance levels on Tuesday. Ethereum and Cardano led the way with 2% gains, outpacing Bitcoin’s 0.6% rise. …
