Dogecoin Surpasses a Three-Year High of $0.28 As Solana Joins the 100B Club by Market Capitalization

With Dogecoin and Solana’s impressive price performance, Lunex Network aims to mirror this performance with higher gains expected in the coming days.

Dogecoin (DOGE) is eying an imminent breakout as it tests critical resistance areas. After posting a significant gain of over 80% in the past week, crypto experts are projecting another 50% surge that might see the DOGE token hit the $0.34 mark. This impressive Dogecoin price performance has been highly attributed to Bitcoin surpassing the $81K mark—a move that has seen whales accumulate DOGE tokens.

On the other hand, Solana has joined the $100B club by market cap, having hit the over $212 price mark for the first time since the 2021 crypto bull market peak. The Solana price has also gained by over 30% in just a week as it continues to aim for its ATH of $260.

Dogecoin Price Eyes $0.5 Target

Dogecoin has continued to extend its gains, trading around the $0.29 mark. Its open interest hit a new ATH of over $2.26B, signaling a surge in new capital, as the trading volume surged to over $18.9B. The Dogecoin weekly chart has also broken and closed above the ascending trendline, which had acted as a resistance zone.

If Dogecoin’s ascending trendline holds as support, it might extend its rally by another 21% to retest its October 2021 high of $0.34. The RSI on the weekly chart is currently at 87, above the overbought threshold of 70, signaling caution of a likely pullback in the price of DOGE. However, Dogecoin’s on-chain data supports further bullish momentum, with an increasing open interest for the token.

An increase in OI usually represents new buying, which suggests a bullish outlook. The Dogecoin price could continue a bullish momentum, eyeing the $0.5 mark provided it remains above its resistance level of $0.29. The downside momentum could also prevail if the Dogecoin price breaks below $0.28, with support at the $0.27 mark.

Solana’s Price Prediction: What Are SOL’s Odds of $500?

Solana’s recent performance has stirred optimism. The SOL token gained over 48% in just a month, surpassing the $216 mark to become one of the top market performers. With such a strong potential, analysts predict that it could surge even higher to hit the $500 barrier in the near term.

The SOL token’s immediate resistance levels are around the $230 and $250 mark. A breakout above these levels could lead to further gains, with technical analysis pointing out critical support within the $200 level. The 100—and 200-day SMAs, currently below the Solana price, suggest a continuous bullish trend, with the RSI at 77.

Moreover, increasing institutional interest and potential collaboration within the NFT and DeFi spaces could also fuel Solana’s price growth momentum. While the $500 target might seem aspirational, Solana’s short-term prospects seem realistic given the incoming US administration’s pro-crypto stance.

Unlock the Future of DeFi with Lunex Network

By offering a complete platform where users can trade, store, transfer, and stake their tokens in one place, Lunex Network is making DeFi relatively easier. Backed by its revenue-sharing model, Lunex Network has already raised over $2.1M in its presale stage while providing early investors over 66% ROI. Moreover, the LNEX price will surge further in the coming days, providing investors a better opportunity to enjoy more gains.

You can find more information about Lunex Network (LNEX) here:

Website: https://lunexnetwork.com
Socials:https://linktr.ee/lunexnetwork

This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article