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In spite of a recent decline to $0.209 due to considerable bearish influence, the future price trajectory of Dogecoin may be swayed by three primary support zones. Based on the current price chart, these support zones are derived from historical local peaks that acted as areas of significant demand during corrections. DOGE is presently lingering around $0.205, indicating the first notable support zone.
This support zone signifies a local peak prior to a substantial surge in DOGE at the close of 2024. If DOGE can sustain above this region, the price might bounce back to $0.25, initiating a short-term increase. Nevertheless, if DOGE fails to hold its immediate support, $0.185 will emerge as the next vital point of interest.
Prior to the market’s ascent, this price was another local peak, which may now offer support for buyers. If DOGE can recover from this region, it could reclaim lost territory, but a failure to maintain could result in additional declines. Before DOGE surpasses $0.40, the last significant resistance that became a support zone at $0.160 is now the ultimate major support level.
If the price descends to such low points, the asset may encounter difficulties. Losing this support could thrust DOGE into an extended bearish phase, dragging it to even lower points. However, if DOGE remains above $0, the market might potentially rebound to the $0.25-$0.28 range.
205 and emotional enhancement. Whale Notice: $3.1 Million USDC Sent to Hyperliquid for $HYPE Purchase
Nevertheless, if the bearish pressure continues, the asset might encounter a more significant correction, with DOGE possibly falling below $0.160. These essential support levels will be vital in determining its next major movement.
### Sudden Drop of Shiba Inu Coin
After undergoing a sudden drop of around 20%, Shiba Inu Coin is finding it difficult to recover the lost ground. Presently, SHIB is trading at roughly $0.00001470, displaying signs of short-term recovery. However, there is considerable resistance ahead that could influence the asset’s subsequent direction. Despite recent advancements, SHIB remains in a delicate condition.
The asset is nearing a declining trend line that has served as resistance during previous recovery efforts. If SHIB does not manage to surpass this level, it may instigate new sell-offs, bringing the price closer to the critical support zone of $0.00001300.
Conversely, if SHIB can break above the declining trend line, it may accelerate towards the next resistance levels of $0.00001596 and $0.00001793. However, due to the prevailing bearish sentiment in the overall market, substantial buying pressure will be required to reclaim those levels.
Should SHIB be rejected at the resistance level and revert to $0.00001300 or even $0.00001100, the downward trend may persist. Despite SHIB’s promising recovery attempts, further declines remain a possibility. Traders should vigilantly observe the forthcoming resistance levels to prevent another significant correction.
### SOL Whales Continue Acquiring
In spite of the recent fluctuations of Solana, large investors are discreetly gathering the asset at lower prices. One whale acquired 50,000 SOL for $6.77 million seven hours ago, indicating renewed enthusiasm for the long-term potential of the asset.
This marine mammal traded 122,921 SOL from November 20, 2024, to January 21, 2025, at a value fluctuating between roughly $28 million and $23 million, with an average cost of $230. In light of the considerable discount on SOL’s present market price, he initiated repurchases at a significantly lower price, suggesting a tactical buildup.
In spite of recent downturns, such considerable purchasing activity generally indicates that institutional investors and key players remain hopeful about SOL’s prospects. Historically, Solana has encountered various obstacles, including network failures, regulatory challenges, and an 80% decline from its peak during the most challenging market conditions.
Nonetheless, SOL has repeatedly bounced back from these hurdles, showcasing its durability and persistent relevance in the cryptocurrency landscape. Considering its robust fundamentals and the growing accumulation by whales, there is minimal reason to question SOL’s long-term sustainability. With a vibrant developer community and continuous enhancements boosting its functionalities, the network stays among the most favored in the blockchain arena.
Although whale accumulation reflects strength, price adjustments are always a possibility. Should selling pressure persist, SOL might retreat to a crucial support zone around $130 before starting a long-term recovery. However, if demand continues to increase, the likelihood of returning to $150 and beyond could be on the horizon. Overall, Solana seems to be in a phase of strategic money accumulation, which may set the stage for a strong recovery soon.
