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Dogecoin's price, recently dipping to $0.209 due to bearish pressure, hinges on three key support levels. These levels, identified on the price chart, represent past local peaks that historically served as strong demand zones during corrections. Currently trading around $0.205 (the first significant support), DOGE could see a brief recovery to $0.25 if it holds above this level. However, a fall below this point brings the next crucial support level of $0.185 into focus.

This $0.185 level was a previous local high and could act as a buffer for bullish sentiment. Recovery from this area could signal a regained foothold, while a failure to hold it could lead to further losses. The final major support sits at $0.160, a previous resistance level before DOGE's surge past $0.40. A drop below this level could trigger a more extended bearish phase and lower lows. Conversely, maintaining above $0.205, coupled with improved sentiment, suggests a potential rebound towards $0.25-$0.28. Sustained bearish pressure and a break below $0.160, however, could signal a more significant correction. These support levels will be critical in determining DOGE's next major move.

Shiba Inu's Sharp Decline and Recovery Attempt

Shiba Inu is attempting a recovery after a sharp drop that saw its value decrease by approximately 20%. Currently trading around $0.00001470, this represents a short-term rebound. However, significant resistance could determine its next move. Despite the recent improvement, SHIB remains vulnerable.

The asset is nearing a descending trendline that has previously acted as resistance during recovery attempts. Failure to break above this trendline could trigger another sell-off, pushing the price back towards key support around $0.00001300.

Conversely, a successful break above the trendline could propel SHIB towards resistance levels at $0.00001596 and $0.00001793. However, given the prevailing bearish market sentiment, substantial buying pressure will be needed to reach these levels. Rejection at resistance and a subsequent decline towards $0.00001300 or even $0.00001100 could indicate a continuation of the downtrend. Despite the encouraging recovery attempt, the potential for further declines remains. Traders should closely monitor upcoming resistance levels to mitigate the risk of another significant correction.

Solana's Whale Accumulation

Despite Solana's recent volatility, large investors are accumulating the asset at lower prices. A whale recently purchased 50,000 SOL (approximately $6.77 million) at the bottom, signifying renewed confidence in SOL's long-term potential.

This same whale sold 122,921 SOL between November 20, 2024, and January 21, 2025, at an average price of $230 (approximately $28-$23 million total). The current discounted price has prompted this repurchase, indicating strategic accumulation.

Such large purchases often signal continued belief in SOL's value from institutional investors, despite past challenges including network disruptions, regulatory concerns, and an 80% decline from its peak. However, SOL has consistently rebounded from these setbacks, demonstrating resilience. Given its strong fundamentals and growing whale accumulation, SOL's long-term viability seems secure, particularly with a thriving developer community and ongoing improvements enhancing its functionality.

While whale accumulation is positive, a price retracement remains possible. Continued selling pressure could push SOL back to key support around $130 before a long-term recovery. However, sustained demand could lead to a return to $150 and beyond. Overall, Solana appears to be in a phase of strategic accumulation, potentially setting the stage for a substantial recovery. Read original article on U.Today