Dogecoin price is attracting renewed attention from technical analysts, with several chart formations pointing to a meme coin rally. According to multiple analysts, DOGE price is displaying a combination of technical indicators and structures that suggest the potential for a 10X rally. These include a breakout from a triangle pattern, a developing “cup and handle” formation, and historical pattern similarities to the 2017 bull market.
Dogecoin Price Prediction: Chart Patterns Point to 10X Meme Coin Rally
In a recent post on X, analyst Trader Tardigrade shared a chart showing the MACD indicator breaking out from a triangle formation. This setup has historically been linked with strong upward momentum in Dogecoin price. The MACD breakout is accompanied by a rounded bottom pattern, often seen as a preparatory phase before bullish moves.
Notably, during previous instances in September and March, similar MACD triangle breakouts occurred. In both cases, the breakout led to a rapid acceleration in Dogecoin price. These historical movements suggest that the current meme coin rally may lead to a new all-time high.
Source: X
The MACD lines have crossed again in recent sessions, with the indicator moving above the triangle’s downtrend line. Analysts are observing similar conditions that were present during previous rallies. The upward curl in the price structure reinforces the breakout narrative.
Meanwhile, following the recent move by House of Doge, market analysts are forecasting a 16% rise in Dogecoin price as bullish momentum builds.
Cup and Handle Pattern Suggests Upside Toward $2.00
Additionally, according to Crypto Elites, DOGE price is forming a cup and handle pattern, a technical formation often associated with bullish continuation. The rounded bottom of the cup has already developed, and the handle phase is underway. This formation typically leads to a breakout once the price surpasses the neckline resistance.
The key resistance level is positioned near $0.185. A confirmed break above this threshold could open the door to a sharp upward movement. Based on this chart pattern, the projected target is in the $1.85 to $2.00 range. The projection is calculated using the depth of the cup formation.
Source: X
However, the analyst noted that the current retracement to the handle’s lower range may act as a support zone. This area has historically been where momentum builds ahead of breakouts.
Historical Behavior Resembling 2017 Cycle
Concurrently, analyst KrissPax has identified similarities between the current Dogecoin price movement and the 2017 bull run. KrissPax posted a chart on X that compares both periods, showing the current phase aligning closely with the structure before DOGE price previous surge. According to the chart, the current meme coin cycle could extend beyond the previous all-time high.
KrissPax projected that the top meme coin could rise to $4 if the second major breakout occurs, similar to the 2017 pattern. While this is a longer-term scenario, it is based on recurring patterns observed in past market cycles.
A recent CoinGape report supports the bullish outlook on DOGE price, noting that a breakout above the $0.18 resistance could ignite a meme coin rally toward the $20 mark.
Ethereum price is facing selling pressure as major wallet holders are seen selling at a loss. ETH is facing selling pressure that has left many wondering whether ETH would return to the $1,500 mark in the foreseeable future.
Whale Movement Implies Uncoordinated Market Positioning
Latest blockchain data indicates that long-term holders are giving up even after they had held positions in earlier market cycles. Selling is happening when Ethereum is holding in the area of $1,550 to $1,700. This has given contradictory signals to analysts and traders who are divided on short-term price movement.
Blockchain monitoring firm Lookonchain has shown a huge capitulation by a single Ethereum investor who sold off 1,160 ETH at a huge loss recently for about $1.83 million.
According to their data, this investor had withdrawn the same amount from cryptocurrency exchange OKX about 11 months ago when Ethereum price was at $3,816. By selling at $1,580, the investor realized a 58.6% loss totaling $2.6 million.
However, not all large holders are exiting positions. CryptoGoos analyst stated that other large investors have recently purchased approximately 77,000 ETH valued at $125 million. This indicates high interest in purchasing at present ETH prices. This unusual behavior by large holders creates uncertainty in the market situation.
IncomeSharks highlighted the significance of profit-taking on rallies in price instead of accumulating every dip. He clarified that summing up continually doesn’t necessarily pay as a strategy. The analyst admitted to failing to take profits from their own ETH holdings and warned against taking cryptocurrency trades emotionally.
Technical Analysis Offers Both Possibilities For Ethereum Price
Analysts do not agree on the current Ethereum price action and the future trajectory. Analyst CrypNuevo pointed towards the $1,700 to $1,550 price level, stating that it looks like past price action. The analyst is bullish since Bitcoin is holding its 1-week 50 EMA support level for a bull run. He stated that this may be bullish for Ethereum. Because of this analysis, CrypNuevo mentioned that he executed significant spot purchases in this price zone.
This consolidation between $1700 and $1550 is looking familiar.
Given the context – Bitcoin holding the 1W50EMA bull market support, and BTC.D not having topped in this cycle yet- we’ll likely see a similar outcome.
Analyst Belle is more optimistic. She believes that Ethereum price is preparing for a huge transformation while others are focusing on other things. The analyst pointed to robust weekly trends, solid support levels, and growing momentum as indicators that are positive for ETH.
Crypto Rover analyst has indicated that there are strong possibilities of a bullish cross in Ethereum technical indicators. One analyst even predicted the most hated rally for Ethereum price as its market share slips.
China’s recent directive for its state-owned banks to decrease reliance on the US dollar has amplified a growing trend among countries seeking alternatives to the dominant reserve assets. In some instances, Bitcoin has emerged as a viable competitor.
BeInCrypto spoke with experts from VanEck, CoinGecko, Gate.io, HashKey Research, and Humanity Protocol to understand Bitcoin’s rise as an alternative to the US dollar and its potential for greater influence in global geopolitics.
The Push for De-Dollarization
Since the 2008 global financial crisis, China has gradually reduced its reliance on the US dollar. The People’s Bank of China (PBOC) has now instructed state-owned banks to reduce dollar purchases amid the heightened trade war with US President Donald Trump.
China is among many nations seeking to lessen its dependence on the dollar. Russia, like its southern neighbor, has received an increasing number of Western sanctions– especially following its invasion of Ukraine.
Furthermore, Rosneft, a major Russian commodities producer, has issued RMB-denominated bonds, indicating a shift towards RBM, the Chinese currency, and a move away from Western currencies due to sanctions.
This global shift away from predominant reserve currencies is not limited to countries affected by Western sanctions. Aiming to increase the Rupee’s international use, India has secured agreements for oil purchases in Indian Rupee (INR) and trade with Malaysia in INR.
The country has also pursued creating a local currency settlement system with nine other central banks.
As more nations consider alternatives to the US dollar’s dominance, Bitcoin has emerged as a functional monetary tool that can serve as an alternative reserve asset.
Why Nations Are Turning to Bitcoin for Trade Independence
Interest in using cryptocurrency for purposes beyond international trade has also grown. In a notable development, China and Russia have reportedly settled some energy transactions using Bitcoin and other digital assets.
“Sovereign adoption of Bitcoin is accelerating this year as demand grows for neutral payments rails that can circumvent USD sanctions,” Matthew Sigel, Head of Digital Assets Research at VanEck, told BeInCrypto.
Two weeks ago, France’s Minister of Digital Affairs proposed using the surplus production of EDF, the country’s state-owned energy giant, to mine Bitcoin.
Last week, Pakistan announced similar plans to allocate part of its surplus electricity to Bitcoin mining and AI data centers.
Meanwhile, on April 10, New Hampshire’s House passed HB302, a Bitcoin reserve bill, by a 192-179 vote, sending it to the Senate. This development makes New Hampshire the fourth state, after Arizona, Texas, and Oklahoma, to have such a bill pass a legislative chamber.
If HB302 is approved by the Senate and signed into law, the state treasurer could invest up to 10% of the general fund and other authorized funds in precious metals and specific digital assets like Bitcoin.
According to industry experts, this is only the beginning.
VanEck Predicts Bitcoin to Become a Future Reserve Asset
Sigel predicts Bitcoin will become a key medium of exchange by 2025 and, ultimately, one of the world’s reserve currencies.
His forecasts suggest Bitcoin could settle 10% of global international trade and 5% of global domestic trade. This scenario would lead to central banks holding 2.5% of their assets in BTC.
According to him, China’s recent de-dollarization will prompt other nations to follow suit and lessen their reliance on the US dollar.
“China’s de-dollarization efforts are already having second- and third-order effects that create opportunities for alternative assets like Bitcoin. When the world’s second-largest economy actively reduces its exposure to US Treasuries and promotes cross-border trade in yuan or through mechanisms like the mBridge project, it signals to other nations—especially those with strained ties to the West—that the dollar is no longer the only game in town,” Sigel said.
For Zhong Yang Chan, Head of Research at CoinGecko, these efforts could prove catastrophic for the United States’ dominance.
“Broader de-dollarization efforts by China, or other major economies, will threaten the status of the dollar’s global reserve currency status. This could have [a] profound impact on the US and its economy, as this would lead to nations reducing their holdings of US treasuries, which the US relies on to finance its national debt,” he told BeInCrypto.
However, the strength of the US dollar and other dominant currencies has already shown signs of weakening.
A General Wave of Currency Decline
Sigel’s research shows that the four strongest global currencies—the US dollar, Japanese yen, British pound, and European euro—have lost value over time, particularly in cross-border payments.
The decline of these currencies creates a void where Bitcoin can gain traction as a key alternative for international trade settlements.
“This shift isn’t purely about promoting the yuan. It’s also about minimizing vulnerability to US sanctions and the politicization of payment rails like SWIFT. That opens the door for neutral, non-sovereign assets—especially those that are digitally native, decentralized, and liquid,” Sigel added.
This lack of national allegiance also sets Bitcoin apart from traditional currencies.
Bitcoin’s Appeal: A Non-Sovereign Alternative
Unlike fiat money or central bank digital currencies (CBDCs), Bitcoin doesn’t respond to any one nation, which makes it appealing to some countries.
For Terence Kwok, CEO and Founder of Humanity Protocol, recent geopolitical tensions have heightened this belief.
For these same reasons, experts don’t expect Bitcoin to replace fiat currencies fully but rather provide a vital alternative for certain cases.
A Replacement or an Alternative?
While Bitcoin offers several advantages over traditional currencies, Gate.io’s Kevin Lee doesn’t foresee its eventual adoption causing a complete overhaul of the currency reserve system.
Recent data confirms this. The number of Bitcoin transactions has fallen significantly since the last quarter of 2024. Bitcoin registered over 610,684 transactions in November, but that number dropped to 376,369 in April, according to Glassnode data.
The number of Bitcoin active addresses paints a similar picture. In December, the network had nearly 891,623 addresses. Today, that number stands at 609,614.
Bitcoin number of active addresses. Source: Glassnode.
This decline suggests reduced demand for its blockchain in terms of transactions, usage, and adoption, meaning fewer people are actively using it for transfers, business, or Bitcoin-based applications.
Meanwhile, the Bitcoin network must also ensure its infrastructure is efficient enough to meet global demand.
Can Bitcoin Scale for Global Use?
In 2018, Lightning Labs launched the Lightning Network to reduce the cost and time required for cryptocurrency transactions. Currently, the Bitcoin network can only handle around seven transactions per second, while Visa, for example, handles around 65,000.
“If expansion solutions (such as the Lightning Network) fail to become popular, Bitcoin’s ability to process only about 7 transactions per second will be difficult to support global demand. At the same time, as Bitcoin block rewards are gradually halved, the decline in miners’ income may threaten the long-term security of the network,” Guo, Director of HashKey Research explained.
While the confluence of geopolitical shifts and Bitcoin’s inherent characteristics undeniably create a space for its increased adoption as an alternative to the US dollar and even a potential reserve asset, significant hurdles remain.
Achieving mainstream Bitcoin adoption hinges on overcoming scalability, volatility, regulatory hurdles, stablecoin competition, and ensuring network security.
The unfolding panorama suggests Bitcoin will carve out an important role in the global financial system, though a complete overhaul of established norms seems unlikely in the immediate future.
Ripple (XRP) price momentum has stalled below the $3 threshold after a volatile trading this week driven by conflicting market catalysts. While Trump’s proposal to include XRP in a U.S. strategic crypto reserve initially ignited a price rally, macroeconomic headwinds and skepticism from key financial institutions have cut gains in half
XRP Bulls Struggle to Hold Gains Amid Conflicting Catalysts
XRP price grazed the $3 mark on Monday as rallying 40% after Trump included XRP in the Crypto strategic reserver assets last weekend. However, traders digested multiple market-moving developments this week, those gains have been halved.
Trump’s push to establish a cryptocurrency strategic reserve, with XRP included alongside Bitcoin and Ethereum, Solana, and Cardano generated strong initial momentum at the start of the week. Further optimism came from the easing of tariffs imposed on Mexico and Canada, boosting broader market sentiment.
XRP Price Action
However, XRP bulls faced resistance as macroeconomic uncertainties dampened risk appetite. The latest U.S. Non-Farm Payroll (NFP) report revealed rising unemployment, fueling concerns about persistent inflation and a potentially more hawkish Federal Reserve. As a result, profit-taking emerged near the $3 mark, halting the upside breakout and forcing consolidation around $2.40.
The rejection at $3 suggests traders remain wary of overextending bullish positions amid policy uncertainty. Liquidity remains a key factor, with leveraged long positions likely facing liquidations if XRP fails to hold critical support levels.
JPMorgan Director Casts Doubt on Strategic Crypto Reserve Approval for Ripple
At press time on March 8, Ripple price was trading at $2.40, with a market capitalization of approximately $140 billion. Bull traders anticipate that a break above $3 could push XRP’s market cap toward $200 billion, especially if U.S. Treasury actions align with Trump’s strategic reserve proposal.
However, JPMorgan’s latest report has thrown cold water on Ripple’s ambitious valuation target, highlighting significant hurdles in gaining congressional approval for a U.S. strategic crypto reserve. According to Nikolaos Panigirtzoglou, managing director of global market strategy at JPMorgan, the probability of such a reserve materializing remains below 50%.
“We don’t believe an approval of a U.S. strategic crypto reserve is the most likely scenario (assuming congressional approval would be needed). So the chance is less than 50% in our mind. And if a U.S. strategic crypto reserve is eventually approved, it would be difficult to include smaller tokens outside Bitcoin and Ethereum, as the inclusion of such tokens would raise more concerns about risk and volatility”
– Nikolaos Panigirtzoglou, Maanaging director of global market strategy at JPMorgan
The report further noted that similar state-level Bitcoin reserve proposals have recently failed in Montana, North Dakota, South Dakota, and Wyoming due to concerns over volatility and regulatory hurdles.
Skepticsm around approval of Trump’s crypto strategic reserve plan added to the bearish sentiment keeping XRP price below the $2.50 mark on the daily candle. As traders await further clarity, XRP’s technical structure suggests a pivotal battle ahead.
XRP price is showing early signs of bullish exhaustion after failing to hold above $2.60, suggesting a potential retest of lower support levels. The 12-hour chart highlights a clear rejection near $2.99, coinciding with the upper Donchian Channel boundary, signaling strong resistance. Despite the recent breakout, the inability to sustain momentum above this zone raises the likelihood of profit-taking, particularly with the latest 5.84% decline.
XRP Price Forecast
The MACD histogram, while still in positive territory, has begun fading, hinting at waning bullish momentum. The MACD line remains above the signal line, supporting a bullish case, but the narrowing gap suggests that if selling pressure persists, bears could regain control. Key support is forming near $2.47, aligned with the midline of the Donchian Channel. A decisive break below this level would expose $2.39, a critical pivot where bulls must step in to prevent a slide toward $1.95.
Conversely, if XRP price holds above $2.47 and volume picks up, a renewed push toward $2.99 is likely, with $3.20 as the next bullish target. Leverage traders appear active, making sharp wicks and liquidity hunts a key risk in both directions.
BREAKING:
(@CrypNuevo) 
