• Bitcoin price edges slightly lower on Thursday after rallying 4%  following the US Consumer Price Index (CPI) release on Wednesday.
• Traders should keep watch on US Retail Sales data on Thursday, as it could increase volatility to Bitcoin price.
• K33 report suggests that selling BTC at the inauguration is gradually becoming less compelling.

Bitcoin’s (BTC) price edges slightly lower and trades around $99,200 on Thursday after rallying 4% following the previous day’s US Consumer Price Index (CPI) release. Despite this recent rise in BTC prices, traders should keep watch on US Retail Sales data for December on Thursday, as it could provide more volatility to Bitcoin price. A K33 report suggests that selling BTC at the US President-elect Donald Trump’s inauguration is gradually becoming less compelling daily.

Bitcoin reclaims $100K mark following US CPI data release

Bitcoin’s price rose 4% and reclaimed its $100K mark following Wednesday’s release of the US Consumer Price Index (CPI) for December. On a yearly basis, the data showed that headline CPI came in line with expectations, while core inflation accelerated at a slower-than-expected pace and slower than the prior reading for November. This was perceived as disinflationary and favored risky assets like Bitcoin.

“Although it was not a stellar surprise as on Tuesday with the Producer Price Index (PPI), where all data points came in lower or at the lowest estimate, the CPI reading is enough to bring back that initial Federal Reserve rate cut for 2025 from September to July,” reports Filip Lagaart analyst at FXStreet.

Traders should keep watch on US Retail Sales data for December on Thursday, as it could increase volatility in the Bitcoin price. Last night’s release of the Federal Reserve’s (Fed) Beige book noted that most of the Fed’s 12 districts reported strong holiday sales, exceeding expectations. Some also think that the initial weekly jobless claims figures are very low. So far, the US Dollar (USD) is positive, ING’s FX analyst Chris Turner notes.

Moreover, Senior Analyst at FXStreet Yohay Elam reports about the US Retail Sales, “Generally, a strong report would support the US Dollar and weigh on Gold and Stocks – good news for the economy is bad news for equities.” Like Stocks,  risky assets like Bitcoin may suffer with a strong report. 

Bitcoin sell-off chances decrease ahead of Donald Trump’s inauguration

A K33 report states,  “Selling BTC at the inauguration is gradually becoming less compelling every day as we inch closer to the inauguration.” The market jumped the gun with Trump enthusiasm in November until mid-December, but conservatism and caution have since prevailed.

The report further explains that the S&P500’s early post-election reaction in 2024 closely mirrored that of 2016  However, following the December 18 Fed meeting, the index’s pattern diverged from 2016. In 2016, the S&P 500 stabilized at mid-December highs, saw low volatility until the inauguration, and then faced a yearlong uptrend as Trump entered the Oval Office.

“During Trump’s first term as president, he frequently referenced stock market indices to emphasize economic growth associated with policies, tax cuts, deregulation, and trade deals, a factor we expect to re-emerge throughout his second term,” says the report.

The report concluded that earlier this week, “the S&P 500 closed its post-election gap, and BTC reached 2-month lows. While our monthly outlook favored selling the inauguration, we’d like to rephrase this strategy as selling BTC at the inauguration is considerably less appealing unless the coming six days offer a substantial resurfacing of momentum. De-risking would be path-dependent on next week’s price action and short-lived as we hold bullish long-term expectations for Trump’s impact on BTC.”

S&P 500, Trump election performance comparisons  (2016 vs 2024) chart. Source: K33 Research

Jag Kooner, Head of Derivatives at Bitfinex, told FXStreet, “Markets typically see heightened volatility around major political events and Trump’s upcoming inauguration could spark short-term price swings for Bitcoin, with volatility possibly extending into the following weeks, depending on policy announcements and market reactions.”

Kooner continued, “However, it must be noted that historically, markets have trended up on a 1-3 month horizon after Presidential inaugurations.”

Bitcoin Price Forecast: BTC bulls aim for all-time highs

Bitcoin price reclaimed its $100K mark and closed at $100,497 on Wednesday. However, it edges slightly down on Thursday, trading around $99,200 at the time of writing.

If BTC continues its upward momentum and finds support around the $100,000 level, it could extend the rally to retest the December 17, 2024, all-time high of $108,353.

The Relative Strength Index on the daily chart reads 55, above its neutral level of 50, indicating a rise in bullish momentum. Additionally, the Moving Average Convergence Divergence (MACD) indicator flipped a bullish crossover on Wednesday, giving a buy signal and suggesting an uptrend.

BTC/USDT daily chart

However, if BTC continues its correction and closes below $90,000, it will extend an additional decline to retest its next support level at $85,000.

Dogecoin (DOGE) has recently surged 12.7% this week, trading at $0.3797 after positive market sentiment driven by lower-than-expected U.S. inflation data.

This boost has reignited interest in DOGE, leaving many wondering: can Dogecoin’s price target $2? While past mentions from Elon Musk and other popular figures once fueled massive rallies, the meme coin market is currently undergoing massive changes, leaving Dogecoin fans on their toes as to what’s next.

In contrast, JetBolt (JBOLT) made a hot entry in the altcoin market. With zero-gas technology and utility harnessing the power of AI, JetBolt is generating interest—and its wonder whales are flocking to this next-gen disruptor.

Read on as we unpack the latest on Dogecoin price prediction as next-gen newcomers gain the spotlight this cycle.

Dogecoin Price Prediction: DOGE’s Road to $2?

Dogecoin (DOGE) is currently trading at $0.3797, marking a 12.7% gain over the past week. This surge followed the release of softer-than-expected U.S. Producer Price Index (PPI) data, which indicated a 3.3% year-over-year increase—lower than the anticipated 3.5%.

The unexpected dip in inflation data brought optimism to the broader crypto market, boosting cryptocurrencies like Dogecoin. While some have perceived the report as a sign that the Federal Reserve might ease interest rates in the future, this news has coincided with a renewed bullish interest in the meme coin sector and in particular in Dogecoin.

Dogecoin’s 7-day price chart from CoinGecko showing a recovery from $0.31.

Despite recent gains, many are curious: can Dogecoin target $2 anytime soon? The short answer seems to gravitate more towards a no. Rising to $2 would require the world’s largest meme coin to experience a 5.3x price increase which is a feat that does not take place over short time spans in the crypto market, particularly for large-cap coins.

However, many Dogecoin holders remain optimistic, but a price spike would likely depend on favorable technical breakouts and renewed enthusiasm—both of which seem distant for now. Doge has nonetheless gained new use cases, in particular it’s now an accepted form of payment by the likes of companies including Tesla motors.

JetBolt Steals the Spotlight as Crypto Market Bounces Back

JetBolt (JBOLT) is amongst the trending crypto entrants this January as the crypto market emerges from its post winter holiday slump. JetBolt is not just another new tokens, it’s a Zero Gas pioneer harnessing Skale network technology and making gas fees a thing of the past.

Not only that, JetBolt integrates another hot new technology, namely Artificial Intelligence. As the demand for AI in Web3, users and buyers are keen to explore JetBolt’s AI utility, a crypto content aggregator which displays an array of blockchain news, data, and trending stories along with bullish or bearish market tags.

Furthermore, JetBolt includes an integrated Web3 wallet, which utilizes state of the art WebAuthN tech, making the staking process more seamless and enjoyable. Speaking of staking, JetBolt also features its own unique form of staking with a social twist whereby users who stake can earn extra rewards when they also engage on the platform.

Finally, as JetBolt’s presale gains momentum, buyers are flocking to the early perks including the exclusive Alpha Boxes, allowing buyers to take advantage of discounts of up to 25% on batch purchases. As JetBolt’s presale undergoes daily price increases, it’s rapidly emerging as one of the trending altcoins that whales and enthusiasts are exploring as bullish momentum returns to the crypto scene in early 2025.

Final Thoughts: Can Dogecoin Target $2 as Bullish momentum coincides with JetBolt emergence

Dogecoin’s recent price surge has sparked renewed interest, but its path to $2 remains unlikely due to wider market forces and the need for massive growth. Meanwhile, JetBolt has piqued the interest of whales with zero-gas technology, a user-friendly Web3 wallet, and engaging staking features. While Dogecoin certainly continues to remain popular, and may even witness a price rise in the coming months, rising to $2 in the near term may be challenging. All the while, as the meme coin sector warms up, young altcoins like JetBolt are also emerging as the blockchain space sees renewed interest.

Uncover JetBolt’s features by exploring their official website today.

This content in this piece should not be considered financial advice. Cryptocurrencies of all sorts are volatile, and the crypto market has a high degree of unpredictability. Be sure to take part in your own independent research before taking action in the crypto arena.

Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.

ADA is back at $1, but can it stay there?

Key Support levels: $0.90

Key Resistance levels: $1, $1.3

1. Price Consolidates

ADA is currently trying to stay above $1 which proved difficult to date. If it is successful, then buyers will be encouraged to press their advantage and push the price all the way to the key resistance at $1.3. The current price action favors bulls since yesterday.

2. Momentum is Returning

The price has been moving sideways for most of this week, but since Wednesday the bullish momentum has returned. This allowed ADA to go back to $1. While this is encouraging, bulls will have to turn $1 into a key support if they want to challenge the $1.3 resistance.

3. Daily MACD Bullish Again

After some hesitation and flat price action, the MACD did a bullish cross yesterday. This could be the start of a renewed rally that can see ADA both secure $1 as a key support and attempt a breakout above $1.3. The coming days are critical and can decide where this cryptocurrency is headed next.

The Ripple-affiliated XRP cryptocurrency has just hit new record highs on various spot cryptocurrency exchanges. 

It took the controversial token seven years to finally surpass the seemingly unbeatable all-time high that was recorded at the height of the crypto frenzy in early 2018. Back then, CNBC infamously aired a live click-by-click tutorial on how to “buy Ripple” on the Poloniex exchange.

XRP went on to experience an extremely brutal 91% correction in 2018. 

It then came close to dropping out of the CoinMarketCap top 10 in late 2020 after Ripple was sued by the SEC. 

However, XRP ended up emerging victorious, with the court determining that secondary sales of the token did not constitute securities offerings.

Related

Earlier this Thursday, the token surged to a lifetime peak of $3.38 on the Kraken exchange. 

XRP has now soared by more than 30% over the past four days alone, vastly outperforming other major cryptocurrencies.

The third-largest cryptocurrency is up more than 6% over the past 24 hours following a New York Post article stating that the U.S. might create a strategic reserve of American cryptocurrencies of the likes of Solana and XRP. While the idea might sound far-fetched, it nevertheless helped to propel the token to a new record peak. 

Related

XRP bulls appear to be unbothered by the SEC’s appeal since Ripple seems to be confident that the case will be dropped following the departure of SEC Chair Gary Gensler.

The cryptocurrency might be next in line to get its own cryptocurrency ETF in the U.S., with JPMorgan forecasting that the product could attract roughly $8 billion worth of inflows.

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Solana (SOL) has built a reputation for its fast and cost-efficient blockchain, which powers a rapidly expanding ecosystem of decentralized applications and NFTs. 

Binance analysts predict that SOL could reach $500 by 2025, thanks to the buzz around its potential ETF launch, growing adoption in DeFi, and increasing institutional interest. 

Meanwhile, PlutoChain ($PLUTO) could bring something new to the table such as transformative features like DeFi, NFTs, and AI-driven applications to Bitcoin’s network. 

With its 2-second block times and 43,200 daily testnet transactions, PlutoChain might become a favorite among whales and developers looking for scalable innovation. 

Let’s explore Solana’s price potential below.

Can Solana (SOL) Realistically Hit $500 by 2025?

Solana (SOL) is on many investors’ radar, with analysts suggesting it could hit $500 by 2025. 

One major factor driving this optimism is the recent ETF buzz surrounding Solana. The potential launch of a Solana-based ETF is increasing its visibility among institutional players, which opens doors for large-scale adoption and inflows of capital. 

This development has positioned Solana as a key contender for blockchain dominance, particularly as institutions explore assets with real-world utility.

Solana’s ecosystem continues to expand rapidly, with DeFi platforms and NFT marketplaces thriving on its network. 

Notable partnerships and innovative projects are strengthening its utility, which creates a solid ecosystem that appeals to both developers and users. 

These factors reinforce Solana’s long-term growth potential, which makes it an attractive option for whales looking to diversify their portfolios.

Whales have been actively accumulating SOL, as on-chain data reveals large transaction volumes and wallet growth. 

Solana’s appeal lies in its potential for significant gains, which is driven by its scalable technology and expanding adoption. Whale activity signals growing confidence in Solana’s ability to maintain its momentum and achieve new price milestones.

From a technical perspective, Solana’s Relative Strength Index (RSI) suggests room for further upward movement, with recent trading volumes pointing to strong buying interest. 

TradingView charts highlight clear breakout patterns, which aligns with the bullish sentiment surrounding Solana.

Macroeconomic factors, such as increasing institutional focus on blockchain and growing competition with Ethereum, are also shaping Solana’s path forward. 

Its low transaction costs and high-speed blockchain technology make it a strong competitor in the DeFi and NFT spaces. If these trends persist, Solana’s climb to $500 may be more realistic than many expect.

PlutoChain – A Project That Could Enhance Bitcoin’s Ecosystem with Advanced Features

PlutoChain ($PLUTO) could redefine what’s possible with Bitcoin by potentially enhancing its utility with advanced features. 

PlutoChain might transform it from a simple store of value to a dynamic platform for modern blockchain use cases simply by integrating DeFi, NFTs, and AI-powered applications into Bitcoin’s network—all while preserving Bitcoin’s renowned security. 

This added functionality could open up new opportunities for developers and businesses to explore innovative applications within the Bitcoin ecosystem.

One of PlutoChain’s standout features is its Ethereum Virtual Machine (EVM) compatibility. 

This may allow Ethereum-based dApps to integrate seamlessly into Bitcoin’s network, which bridges two powerful ecosystems. 

Developers can potentially now leverage Ethereum’s extensive toolkit while benefiting from Bitcoin’s security, which might create a unique blend of reliability and versatility.

From a technical standpoint, PlutoChain demonstrates exceptional performance. It processes 43,200 transactions daily during its testnet trials, which showcases its scalability and efficiency. 

Its independent Layer-2 blockchain achieves 2-second block times, which also makes transactions faster and more cost-effective. 

Additionally, PlutoChain has passed rigorous security audits by SolidProof, QuillAudits, and Assure DeFi. This alone could cement its position as a trustworthy and reliable network for large-scale applications.

PlutoChain’s appeal extends beyond its technical strengths. Its decentralized governance model may empower community members to influence network updates and key decisions, which also aims to promote inclusivity and trust. 

This governance approach, combined with its robust infrastructure, could catch the attention of whales and developers alike and potentially position PlutoChain as a game-changing project in the blockchain space. 

Final Words

At the same time, PlutoChain ($PLUTO) could become the next big Layer-2 blockchain that enhances Bitcoin with features like DeFi, NFTs, and seamless Ethereum integration. 

Its scalability, security, and community-driven governance may continue to draw attention from whales and developers alike.

Stay updated on PlutoChain’s journey by following its Twitter, Discord, and Telegram for the latest news.

This article does not offer financial advice. Cryptocurrencies can be unpredictable and carry risks. It is important to conduct thorough research before acquiring any crypto asset. Forward-looking statements carry risks and are not guaranteed to be updated.

Ripple CTO David Schwartz was engaged in a dialogue with an XRP enthusiast about whether the $3.84 price level achieved in January 2018 was indeed an all-time high for XRP or not.

The Ripple CTO confirmed that this “ATH” was not quite what it seemed and how it was reported by the media to the global cryptocurrency community. This discussion took place as the Ripple-affiliated XRP coin has surpassed the $3 level and is targeting its old “all-time high” as it keeps moving upwards.

Schwartz unveils truth about XRP ATH

The XRP enthusiast stated that $3.84 was not exactly a ATH for the XRP token, adding that such a high price was indicated due to “Korean exchange rates misleading people.” He recommended his audience to pick David Schwartz’s brain about this issue and then tagged the Ripple CTO in his X post.

Schwartz appeared in the comment thread to confirm what the X user stated. Schwartz said that $3.84 is indeed “often reported as the all-time high.” However, he said, “you could not actually sell XRP for $3.84 nor did you have to pay $3.84 to buy it.” He did not share any more details about the actual ATH reached in 2018.

The Ripple CTO explained that this high price contained the “inflated amounts due to the use of “official” currency exchange rates for Korean exchange rates.” And he attached a link that explains such a term as “Kimchi premium.”

The term “Kimchi” is about the dish made of cabbage that is highly popular in the South Korean cuisine. Since Bitcoin and are cryptos are decentralized assets, unlike equities, they can be traded at different prices at various platforms. Therefore, when it comes to South Korea, crypto prices are usually much higher than on exchanges in other parts of the world.

Related

XRP soars 16% to $3.19

Over the past 24 hours, XRP has surged, staging a massive 16% increase and touching on the $3.19 level. At the time of writing this material, the coin is changing hands at $3.10.

XRP soared on the rumors that following the departure of the current chairman Gary Gensler, the Securities and Exchange Commission may start dropping certain crypto cases pending in courts now, which are not considered to be about frauds. Gensler’s last day in the office is January 25.

The price of Dogecoin could increase by seven-fold if it mirrors the price trajectory of Solana reaching $1,500 or Ethereum attaining $10,000.

Leading altcoins like Solana (SOL) and Ethereum (ETH) have been making continuous efforts to set the pace for the 2025 bull market. Meanwhile, in the meme coin space, Dogecoin (DOGE) has also been a notable performer, although recent pullbacks have dented its uptrend.

While the bears currently dominate market sentiment, analysts remain confident in the performance of altcoin market leaders Ethereum and Solana. Should the uptrend in these altcoins gain momentum, it will likely spill over to the meme coin sector, where Dogecoin reigns.

This article examines the potential price of Dogecoin in the upcoming bull market, assuming Solana reaches $1,500 and Ethereum reaches $10,000, as widely predicted by numerous market commentators.

Dogecoin Price if Solana Reaches $1,500

At press time, Solana is trading at $190, boasting a 2% gain over the last 24 hours. At this price, SOL is trading at an 11% discount compared to its weekly high. To reach a lofty $1,500, Solana would need to increase by 7X or grow by 690%.

Currently, Dogecoin is trading at $0.3406, up by 1.8% over the past day. If Dogecoin follows a similar trajectory as Solana, with a 690% surge, it would reach $2.69.

This price projection aligns closely with the predictions of several analysts regarding Dogecoin’s outlook for this year. 

For example, popular influencer Ash Crypto has argued that Dogecoin could reach $3 by May. Interestingly, while some see this as Dogecoin’s peak for the current cycle, others have suggested that the meme coin could even grow more than ten times from this level.

Dogecoin Price if Ethereum Reaches $10,000

At press time, Ethereum is trading at $3,300, up by 1% over the past day. Numerous market experts have suggested that Ethereum could reach $10,000 this cycle. A few weeks ago, analyst Ali Martinez predicted a $10,000 Ethereum, citing its correlation with the S&P 500.

Reaching $10,000 would require a growth of 203% from Ethereum’s current price level. A similar 2X growth for Dogecoin would be enough to send the meme coin to the much-anticipated $1 price point.

Notably, a $10,000 price for Ethereum would elevate its market cap to over $1.2 trillion, up from its current market cap of $395 billion.

Historically, Dogecoin has outperformed Ethereum during bull runs. For instance, in the past 90 days, Ethereum has been up by 25%, while Dogecoin has seen a more impressive 195% gain.

In other words, Dogecoin could see a significantly higher price valuation should Ethereum rally to $10,000, one that exceeds a 2X gain.

The XRP price would only need to increase by this % for XRP to finally flip Ethereum on the path to becoming the second-largest crypto asset.

XRP is again outperforming the market, as it has recorded extraordinary gains over the past 24 hours. During this period, the XRP price claimed a new yearly peak of $3.10, its highest price since Dec. 3, 2024, before facing a mild pullback. Despite this, XRP is up 23% in the week.

Amid the impressive performance, discussions around XRP’s potential to flip Ethereum and become the second-largest crypto asset have regained momentum, with AI research platform Sistine Research spearheading it this time.

XRP Price Needed to Flip Ethereum

At the early stages of the upsurge, when XRP claimed the $2.57 mark, Sistine Research noted that XRP price would only need to reach $4 to overtake Ethereum and about $19 to dethrone Bitcoin (BTC) as the largest crypto.

However, it bears mentioning that Sistine’s assessment considered XRP’s fully diluted valuation, which takes into account the total supply of 100 billion tokens and not the circulating supply. Market analyst CryptoInsightUK pointed this out, providing a more practical outlook.

This is accurate hypothetically but not currently.

This is calculating using FDV – Full Diluted Value – ie including all the $XRP in escrow.

If we use circulating supply, we would be looking around $6.60 per $XRP to flip $ETH https://t.co/v3TXKfm8Sv

— Cryptoinsightuk (@Cryptoinsightuk) January 14, 2025

Considering the current circulating supply, the analyst identified that XRP would have to rise to around $6.6 to flip Ethereum. Market data supports this claim, with XRP’s circulating supply now sitting at 57.5 billion, according to CoinMarketCap data.

For context, Ethereum currently has a market cap of $387.5 billion, as its price rises to $3,216. For XRP to surpass this ETH market cap with a circulating supply of 57.5 billion, its price must rise to $6.74, aligning closely with the estimate presented by CryptoInsightUK. From the current price of $3.07, XRP would need to rise 137% to reach $6.74.

XRP Outperforms Bitcoin, Ethereum

Interestingly, several market analysts believe this price is readily attainable for XRP. Last October, following the SEC’s decision to appeal the ruling in the SEC vs. Ripple lawsuit, market watcher EGRAG Crypto insisted that XRP’s worst-case scenario in this bull cycle is around $6. 

Meanwhile, in September 2024, another notable analyst, Cryptobilbuwoo, suggested that XRP was looking to outperform Bitcoin. He predicted this bullish trend could push XRP price to above $6. The first part of his projection has materialized, as XRP outperforms Bitcoin and the rest of the market.

Notably, since September 2024, XRP has increased 203% against Bitcoin, with the XRPBTC ratio now sitting at 0.00002926. In addition, XRP has appreciated by a more substantial 334% against Ethereum since November 2024. This has further bolstered the belief that XRP is capable of flipping Ethereum in the near future.

Key events shaped the altcoin space. US President Donald Trump endorsed crypto after his victory. Ripple also won its case against the US SEC. These developments caused Solana’s price to rally by 200%. It reached an intra-year peak of $266 by the end of November 2024. In 2025, the cryptocurrency began with higher lows. This pattern often signals upward movement.

From Early Gains to New Heights

Solana, which initially was not high priced, only started growing earlier this year and reached $260 by year-end. That was its highest level until November 2024, when SOL/USD crossed that point and attained $266. Analysts estimate that the next upward target is $300 in Q1 of 2025, while a $500 per barrel is feasible in 2025.

Consequently, through most of 2023, Solana prices experienced significant volatility in 2022 after its extreme growth in 2021, ranging from around $20-$30. Interest in the market restarted at the end of 2023 in a market-wide pump in which Bitcoin and Solana made fresh all-time highs, with Bitcoin at $8000 and Solana price even hitting $120. This price level remained stable in 2024, although some regulatory insecurity is still linked to the SEC.

Solana’s Strong Recovery in 2024

From 2024, the value of Solana price reached $94, and then a steady rise began as the general sentiment of the crypto assets improved. It came over $200 by mid-year but started trading below the level for some time, with $120 as a crucial support floor. The price recovery began in September as the 50-week SMA provided a floor, the same timeframe as Ripple’s legal victory and the democrats winning a super-majority in both houses of the US Congress for president Republicans and the sweeping electoral victory.

After a fantastic period in late November, Solana price was over $265, making a new record high. Even after a pullback below this level in December, the 20-week SMA remained atop, further endorsing the larger bullish narrative up to 2025.

Innovations Driving Solana’s Success

Solana’s friendly applications, millions of customers, and its extraordinary structure of thousands of nodes also provide censorship freedom. Regarding transaction costs, which is a major concern across other developing blockchain platforms, developers pay a transaction fee of about $0.00025, and the confirmation time takes only 400 milliseconds, thus making it a wonderful host for decentralized applications (dApps).

Solana is an open-source project that started operating in 2020 and was developed by Solana Labs, with Anatoly Yakovenko and Raj Gokal as its founders. The Consensus mechanism implemented here is proof of stake, and the architecture Sealevel allows for parallel transaction processing with a TPS of 20,000. Some prioritization fees are also charged on an optional basis to help maintain order during a period of congestion.

Solana Price Outlook for 2025

As Solana enters 2025, its strong technical foundation, growing adoption, and favorable market conditions suggest continued bullish momentum. With targets of $300 and beyond, Solana’s trajectory could further cement its position as a leading blockchain platform in the future. Solana price prediction shows a potential rebound and a bullish outlook as per the analyst prediction and market momentum.

SOL has remained relatively stable as investors observed DEX market movements similar to those in Bitcoin and other altcoins this month. It reversed slightly down from Monday but was back in the green as investors applauded its increased market share in the DEX segment. Experts have quickly begun questioning if not for these trends; the cryptocurrency could hit $300.

Defi Llama statistics show that Solana ranked as the busiest DEX system last week, with $27 billion in turnover. Solana’s valuation has grown even bigger, dwarfing Ethereum, valued at $16 billion in the same period. Major DEXs in the Solana ecosystem, including Raydium, Lifinity, Orca, and Stabble, are the major contributors to this growth.

According to Dune analytics data, solana weekly transactions are about 718.65 million, a 1 percent decrease in key metrics. There are around 25.22 million weekly active addresses, with a 4.67% difference. The total value locked (TVL) is around $8.19 billion, a 4.61% drop. These metrics show Solana’s network activity, user engagement, and the value invested in its decentralized finance (DeFi) protocols.

Solana’s ascend in the DEX sector has been boosted more by memecoins such as Bonk and Dogwifhat, among others. Altogether, these tokens have a market capitalization greater than $16 billion and 24-hour trading volume above $3 billion.

A higher incidence of DEX activity benefits Solana’s ecosystem because it generates higher network fees. Some of these fees are returned to SOL holders as staking rewards, making the token even more attractive to investors.

As the DEX industry grows and people become increasingly positive about the approval of ETFs, many market spectators are now waiting to see how Solana can take advantage of this opportunity and head toward the $300 level.

Solana ETFs to Attract Billions

The crypto and investment community are concerned about Solana’s (SOL) potential approval of an exchange-traded ETF. After the launch of Bitcoin and Ethereum ETFs, several asset managers have filed with the US Securities and Exchange Commission (SEC) to launch Solana-based ETFs. Companies such as Grayscale Investments, VanEck, 21Shares, Bitwise, and Canary Capital are among those seeking approval.

Initial decisions on these applications are expected in early 2025 as the SEC reviews this process. For example, Grayscale’s application with the SEC will be reviewed by January 23, 2025, and the other firms by January 25, 2025.

A Solana ETF approval has the potential to upbeat market analysts and industry experts. Strong institutional interest is signaled by JPMorgan’s projects that ETFs for Solana could draw at least $3bn to $6bn of net assets within the first year. Solana’s price is rising in anticipation of approval on the ETF front, supported by rising optimism and growing momentum in the DEX space.

Moreover, Bitcoin ETFs like BlackRock’s iShares Bitcoin Trust (IBIT) have seen over $52 billion in assets, showing how investors seek to diversify their crypto investments.

The regulatory landscape may depend on changes in the political environment. When Donald Trump becomes the new president of the United States, his plans to appoint crypto-friendly officials in key regulatory positions have signaled a pro-crypto stance for the incoming administration. Such a twist could make the ground more accommodating for cryptocurrency ETFs, even though some are based on Solana.

Solana Price Analysis

In November 2023, Solana (SOL) reached an all-time high of $264.75 as the market increased. Since then, the price has dropped and entered a local bear market due to a shift in the cryptocurrency community’s mood.

Although the SOL has retested a significant support level at $188.15, this is a bright spot as it marks SOL’s highest swings last month and even last July. The price retest suggests forming a break-and-retest chart pattern and, therefore, price stabilization.

Moreover, the SOL has erected a double bottom pattern around $175, indicative of an upside reversal. A developing falling wedge pattern, formed when two descending and converging trendlines develop, would further support an upcoming bullish break. A breakout along these lines would set SOL up to retest its 2024 high of $265 and, with a move-through, potentially sail into the $300 region.

On the contrary, the price of SOL has dipped under the 50-day weighted moving average, which implies a bearish market. If bearish momentum continues, this movement may also signal a decline toward the $150 support level.

Currently, the SOL price is $198.75, a 6.24% increase from the previous day if a recent price drop of 1.94% is disregarded. 

The Dogecoin and Shiba Inu prices are surging today, recording significant gains in the process. This price surge for the foremost meme coins came following a recent development on the macro side, which provided some relief for the crypto market. 

Why The Dogecoin And Shiba Inu Prices Are Surging

CoinMarketCap data shows that the Dogecoin and Shiba Inu prices have recorded considerable gains today, marking a price rebound for the foremost meme coins. Dogecoin and Shiba Inu have enjoyed this price recovery following the release of the cooler-than-expected US Producer Price Index (PPI) data, which provided relief for the crypto market.  

The US PPI rose to 3.3% year-on-year (YoY), lower than the earlier projections of 3.5%. This inflation data provided a boost for risk assets including Dogecoin and Shiba Inu, seeing as they rebounded following the data release. The PPI is one of the economic indicators that the Federal Reserve considers when cutting rates. A cooler-than-expected figure suggests inflation is declining, which is bullish for risk assets like these meme coins. 

The Dogecoin and Shiba Inu prices were also bound to surge as the Bitcoin price recently broke above $97,000. These meme coins share a strong positive price correlation with the flagship crypto and are know to mirror its price movement. Bitcoin was also reacting to the positive inflation data and led the broader crypto market to this price rebound. 

The inflation data evidently provided some optimism for market participants who had been waiting on the sidelines due to market uncertainty. This is particularly true for Dogecoin investors, as IntoTheBlock data shows a 41% spike in DOGE’s large transactions in the last 24 hours, with $23.35 billion traded during this period. This surge in Whale transactions also contributed to the price rebound, as these investors are known to significantly influence the market. 

What Next For These Meme Coins?

Crypto analysts have provided insights into what could come next for the Dogecoin and Shiba Inu prices. In an X post, crypto analyst Kevin Capital stated that if the market remains bullish, then Dogecoin’s short-term goal is to clear the .415 Fibonacci level. The crypto analyst asserted that DOGE can head back to the macro golden pocket at $0.48 once it clears this Fib level. 

Crypto analyst Master Kenobi also recently provided a bullish outlook for Dogecoin. He predicted that the foremost meme coin could reach a new high around January 20, the day of Donald Trump’s inauguration. 

For Shiba Inu, crypto analyst CW stated that the meme coin did not break the previous low. As such, he remarked that the target price is still $0.00041. The crypto analyst added that SHIB is expected to reach this target price sooner than the pattern that he highlighted on his accompanying chart. 

Featured image created with Dall.E, chart from Tradingview.com