TL;DR

• DOGE is down

• SHIB is down

• Trump Memecoins Boost Solana's Pump.fun

• Dogecoin Poised for Double Bull Runs, Eyes $3 Target

• Bitwise Files for Dogecoin ETF

• Tuttle Capital Files Leveraged Crypto ETFs

• Balchunas Confirms Bonk 2x ETF Possibility

• Breaking Bad Actor's X Account Hacked for Memecoin Scam

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Dogecoin Price

Crypto is down this week, with DOGE down 5.5% and SHIB down 7.0%:

Weekly Analysis

This weekly analysis is majorly on the top two MEME coin

Dogecoin’s price action this week has been marked by volatility, with the memecoin experiencing a correction after closing below its ascending channel pattern on January 28.

While the drop tested lower support levels, bearish pressure has struggled to push DOGE significantly lower, keeping traders on edge. The 61.8% Fibonacci retracement level at $0.27 remains a key downside target if sellers regain control.

However, buyers are attempting to reclaim lost ground, with resistance forming at the moving averages. A successful break above could negate the recent decline and open the door to a rally toward $0.40.

Despite the correction, analysts remain optimistic about DOGE’s long-term outlook. Crypto expert Trader Tardigrade highlights a bullish Gaussian Channel pattern, which historically precedes major price surges. Based on this setup, DOGE could be on the verge of two consecutive rallies, potentially reaching as high as $3.

The first wave of this uptrend appears to be underway, reinforcing expectations for continued growth. A bullish MACD crossover on the 4-hour chart further supports a shift in momentum, with DOGE exiting bearish territory and eyeing key resistance levels.

Market sentiment is also influenced by institutional developments. Bitwise officially filed with the SEC for a spot Dogecoin ETF, following its earlier Delaware trust registration. If approved, the ETF could introduce new liquidity and broader adoption, aligning DOGE with other major cryptocurrencies like Bitcoin and Ethereum, which already have spot ETFs.

Additionally, the $0.35 level is in focus, with over $766 million in short positions set for liquidation if DOGE surpasses this mark.

The broader crypto market remains in a corrective phase, with Bitcoin and Ethereum also seeing declines. However, Dogecoin’s technical indicators and growing institutional interest suggest strong upside potential if key resistance levels are breached in the coming sessions.

Shiba Inu (SHIB) continues to face significant challenges in the market as it grapples with a correction that has seen its price decline over the past week. Despite a brief 2.7% rebound earlier in the week, SHIB’s price remains under pressure, hovering around $0.000018.

This comes after the cryptocurrency experienced a 9.5% drop over the last seven days, largely driven by the broader market's digesting of the US Federal Reserve's latest decision. While the rebound above $0.000018 marked a brief respite, it was not supported by strong buying volume, signaling potential weakness in the recovery.

On-chain data further highlights concerns for SHIB, as whale activity shows signs of stagnation. Large transactions, those valued over $100,000, plummeted by 61% in just 24 hours, signaling a retreat in investor confidence.

The number of such transactions dropped from 353 to 136, while the total volume of SHIB in these high-value trades fell 55%. This lack of whale participation has led to declines in SHIB’s price, with it struggling to hold support at $0.000020 and now sitting near the next key support at $0.000018.

If this downtrend continues without renewed whale interest or strong buy orders, SHIB could test lower levels.

Technical indicators also present a bearish outlook. A developing death cross, where the 50-day moving average crosses below the 100-day moving average, suggests further downside potential. Additionally, the Parabolic SAR remains above the price action, indicating resistance.

With weak bullish momentum and the overall market sentiment teetering on uncertainty, analysts warn that Shiba Inu may face continued pressure unless significant market shifts occur, particularly in whale activity and broader liquidity flows.

Financial News

Trump Memecoins Boost Solana's Pump.fun

Solana's Pump.fun platform set a new weekly trading volume record of $3.3 billion, driven by the launch of Trump-themed memecoins. On January 23, trading soared to over $544 million in a single day, surpassing previous records. Trump's TRUMP and MELANIA tokens triggered a wave of knockoff tokens, with at least 61 fraudulent coins emerging.

Memecoin speculation also led to dramatic price swings, as seen with the "Barron Trump" token. Despite the surge in volume, Pump.fun faces legal scrutiny over investor losses and controversial promotional tactics, with some questioning the platform’s sustainability.

Dogecoin Poised for Double Bull Runs, Eyes $3 Target

Dogecoin (DOGE) is showing signs of a dual bull run, with a promising chart pattern suggesting consecutive rallies. Crypto expert Trader Tardigrade forecasts that DOGE could reach new all-time highs, driven by a Gaussian Channel formation indicating strong upward momentum.

Following a market dip, DOGE is recovering, with a potential surge toward $3 by the end of the second bull run. The Moving Average Convergence Divergence (MACD) indicator also signals bullish momentum. Key resistance levels, such as the $0.35 mark, are crucial, as liquidation of short positions could further fuel DOGE’s rise.

Pump.fun User Nets $3.8M From Mass Token Minting

A Pump.fun user created 18,000 tokens, earning $3.8 million in profits, according to Coinbase’s Conor Grogan. The wallet, the largest deployer on the platform, maintains a 55.57% win rate on $6.8 million in trades. While Grogan suspects manual involvement, some believe it’s a “rug farm,” referencing similar schemes on Base that drained $600,000 from investors.

Scammers allegedly inflate liquidity to appear legitimate before swiftly removing funds. Critics argue that rug pulls have become normalized, while hackers face legal action for comparable exploits. If Pump.fun launches a token, Grogan estimates the wallet could make eight figures from an airdrop.

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