Dogecoin (DOGE) has captured significant attention as its price trends within a crucial range.
Meanwhile, Cardano (ADA) has witnessed a massive inflow of new holders despite recent struggles.
This article explores Dogecoin’s potential to reach $1 by 2025 while highlighting the recent developments in ADA.
Dogecoin price trends indicate a critical phase
Dogecoin is currently priced near $0.32 after a 5% drop over the last 24 hours, according to TradingView data. The meme coin continues to test its support level of $0.31 while resistance remains at $0.35.
- Analysts observe that the asset is exchanging within a symmetrical triangle, which typically signals a consolidation phase before a significant price breakout or dip.
- On the mid-term chart, Dogecoin recently faced a false breakout near $0.34 and has struggled to maintain upward momentum. If the price sustains a level above the descending trendline of $0.35 bullish momentum could push DOGE toward its next target of $0.48.
- Conversely, a break below $0.30 may lead to a retracement toward the $0.24 mark, as indicated by Fibonacci levels.
Historical patterns add to the optimism for DOGE. Analysts have noted repeating fractals similar to Dogecoin’s 2021 bull run. If such trends hold, the meme coin could potentially rally beyond $1 by 2025, with some even projecting highs of $4 under favorable market conditions.
Cardano struggles amid declining market sentiment
Cardano (ADA), exchanging at approximately $0.86 has seen a price dip of 6.9% in the last 24 hours. It is currently at a crucial support level, and analysts warn that a breach below $0.85 could trigger further declines, potentially reaching $0.77.
- Despite bearish technical indicators, on-chain data reveals that ADA holders are still accumulating the token. Reports from analytics firms like Coinglass show a $4.7 million outflow from exchanges, indicating long-term optimism among buyers.
- However, the token faces resistance near the $1.28 level. ADA has rallied 133% over the past six months, but its current consolidation phase leaves room for speculation regarding future price movements.
- Analysts shared their analysis of Cardano on X indicating an incoming rise in price levels.
Cardano’s ecosystem remains active, with planned upgrades such as Hydra and Marlowe expected to enhance the blockchain’s scalability and utility. These developments could attract more holders as 2025 approaches, though the asset’s short-term trajectory remains uncertain.
What to Know
- Dogecoin was among the highest performers of the November bull run induced by Donald Trump. The memecoin remains the largest memecoin by market cap leading other memecoins in the category.
- Dogecoin was initially shilled by Elon Musk in its early days before a lawsuit stopped the billionaire from actively promoting the memecoin directly.
