The SHIB/DOGE ratio has formed a local bottom, suggesting that Shiba Inu price may be poised for significant gains if history rhymes. If a rally ensues, the next price targets for SHIB will be $0.0002 and $0.00003. Hitting these targets will pave the way for an all-time high price. However, how long would it take for Shiba Inu to achieve to reach $0.00002 and $0.00003? SHIB/DOGE Ratio Signals Bottom Formation The SHIB/DOGE ratio has plummeted significantly and recently reached 0.0000621. After falling to this two-month low, SHIB/DOGE quickly rebounded to 0.0000640 at press time. This bounce suggests that the ratio may have bottomed, giving Shiba Inu price room to recover. SHIB/DOGE: 1-day Chart As seen in the above chart, the first target for this ratio is 0.0000706. Once it reaches this price, SHIB will aim for the 2025 high of 0.0000815. However, for this bullish thesis to hold, Shiba Inu… Read More at Coingape.com
The U.S. Securities and Exchange Commission (SEC) has formally acknowledged the filing for Fidelity’s spot Solana (SOL) Exchange-Traded Fund (ETF).
This marks a key development in the financial industry, as Fidelity seeks to list its Solana ETF on the Cboe BZX Exchange. The acknowledgment comes after Fidelity submitted a proposed rule change, paving the way for the potential approval of the product.
Fidelity’s Spot Solana ETF Proposal
The SEC’s acknowledgment follows Fidelity’s filing to list and trade shares of the Fidelity Solana Fund under the Cboe BZX Exchange. The proposed rule change, initially submitted on March 25, was later amended on April 1, 2025, to clarify certain points and add additional details.
The amended proposal aims to list the Solana ETF under BZX Rule, which pertains to commodity-based trust shares. According to the Cboe BZX Exchange, Fidelity plans to register the shares with the SEC through a registration statement on Form S-1.
Fidelity’s experience with crypto ETFs, having launched the Fidelity Wise Origin Bitcoin Fund (FBTC) and the Fidelity Ethereum Fund (FETH), has prepared it for this new initiative. FBTC has drawn substantial interest, accumulating nearly $17 billion in assets, while FETH currently manages around $975 million.
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Layer-1 (L1) coin Cardano has recorded a 10% gain over the past week, positioning itself for an extended rally.
The altcoin is now trading close to its 20-day Exponential Moving Average (EMA), a key technical level that, if breached, could validate the ongoing rally and open the door to fresh highs.
ADA Approaches Key Breakout Zone Amid Surge in Buying Pressure
ADA currently trades near its 20-day EMA and is poised to climb above it. This key moving average measures an asset’s average price over the past 20 trading days, giving more weight to recent prices.
When an asset is about to rally above its 20-day EMA, it signals a shift in short-term momentum from bearish to bullish. This crossover signals that ADA buying pressure is increasing and confirms that the asset has entered an upward trend.
ADA’s successful break above the 20-day EMA would signal renewed momentum and act as a dynamic support level for the coin’s price, giving buyers more control.
On-chain metrics further support the bullish outlook. According to Santiment, ADA’s Network Realized Profit/Loss (NPL) has turned negative, indicating that most holders are currently at a loss.
Historically, this discourages selling pressure as traders are less willing to part with their assets at a loss. This behavior encourages longer holding periods, which in turn tightens supply and can drive up ADA’s price in the short term.
Cardano Bulls in Control
On the ADA/USD one-day chart, the coin’s positive Chaikin Money Flow (CMF) reinforces this bullish outlook. At press time, this indicator, which measures how money flows into and out of an asset, is at 0.04.
A positive CMF reading like this indicates that buying pressure outweighs selling pressure. It reflects strong capital inflows into ADA, suggesting that its investors are accumulating rather than offloading their positions. ADA could extend its rally and climb to $0.70 if this trend persists.
