TL;DR

• DOGE is down

• SHIB is down

• TRUMP Coin Surges 4.27%, Still Far From January Highs

• Solana App Revenues Surge 213% in Q4

• UAE Ministry Teams Up With Shiba Inu for Web3 Innovation

• Neptune Digital Assets Buys 1 Million Dogecoin

• Ulbricht-Tied Wallets Lose $12M in Memecoin Error

• Trump Accused of Soliciting Gifts with Memecoin

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Dogecoin Price

Crypto is down this week, with DOGE down 21.1% and SHIB down 14.7%:

Weekly Analysis

This weekly analysis is majorly on the top two MEME coin

Dogecoin has shown signs of a potential breakout despite market volatility. A bullish divergence on the daily RSI suggests growing momentum, but DOGE remains within a descending wedge.

The price is consolidating below a breached demand zone, needing to hold support at $0.25 to confirm a breakout. If DOGE clears key resistance, a significant rally could unfold.

The memecoin’s Total Value Locked (TVL) has risen slightly from $4.24 million to $4.68 million, indicating modest investor interest. However, this increase is not yet a strong signal of a broader shift in market sentiment.

Meanwhile, the MVRV ratio stands at 77.7%, suggesting DOGE is fairly valued but not overbought. Further gains require increased buying interest, and if the ratio climbs higher, a price correction could follow.

Technical indicators present a mixed picture. The RSI at 40.96 reflects neutral momentum, while the Directional Movement Index (DMI) shows a weak trend, with bearish pressure still dominant.

The Average Directional Index (ADX) at 24.53 suggests that the market lacks strong trend strength, but an uptick in buying momentum could push DOGE past its current consolidation phase.

Crypto analyst Bluntz sees potential for a memecoin comeback, predicting a 200% DOGE rally if it follows Elliott Wave theory.

He notes DOGE has completed an ABC correction against both USD and BTC, setting the stage for a fresh five-wave move upward.

FLOKI also shows a bullish divergence, reinforcing the idea that the meme token market could be rebounding.

Broader market trends add context to DOGE’s outlook. The TOTAL3 chart, which tracks altcoin market capitalization excluding Bitcoin and Ethereum, has reclaimed a breakdown level and could reach $1.3 trillion. If this momentum sustains, it could provide the necessary support for DOGE to break out and confirm its bullish trajectory.

Shiba Inu (SHIB) has gained attention this week after announcing a partnership with the UAE Ministry of Energy and Infrastructure.

This marks SHIB’s transition from a memecoin to a more prominent blockchain player, with ShibOS being integrated into federal operations focused on energy and infrastructure. The announcement has helped SHIB see a rebound over the past 24 hours.

Despite this positive news, SHIB is still recovering from a broader market correction affecting Bitcoin (BTC) and Ethereum (ETH), which are stabilizing after a selloff. SHIB has been trading within a year-long symmetrical triangle pattern, with recent declines triggered by rejection at $0.000033 resistance.

Following new trade tariffs announced by former U.S. President Donald Trump, SHIB dipped to $0.00001218 but has since bounced back to $0.000016, with support from the 100-day Simple Moving Average (SMA).

The MACD shows signs of a reversal, with the blue line attempting to cross above the signal line. If SHIB follows its historical trend, it could target the 50-day SMA, and a breakout above this level might push the price toward the upper resistance near $0.000024. Despite a 45% drop over the past 60 days, SHIB’s recent price action and technical indicators suggest a potential recovery ahead.

Financial News

TRUMP Coin Surges 4.27%, Still Far From January Highs

The Official TRUMP memecoin surged by 4.27% in the past 24 hours, reaching $18.50 with a $3.7 billion market cap. Despite this, it remains 75.36% down from its all-time high of $75.35 in January.

Initially launched by CIC Digital, linked to Trump’s campaign, TRUMP coin briefly reached a market cap of $75 billion but has since faced significant volatility, losing 42% in value in the past week. Still, it remains one of the top meme coins, outperforming Bitcoin, Ethereum, and Dogecoin in the last 24 hours, with real-world use cases like payments through Solana Pay.

Solana App Revenues Surge 213% in Q4

Solana’s application revenues saw a 213% increase in Q4 2024, reaching $840 million, driven by memecoin speculation. Revenues peaked in November at $367 million, with the memecoin launchpad Pump.fun generating $235 million, a 242% increase. Other platforms like Photon and Raydium also saw over 250% growth.

DeFi and AI-related coins contributed to this surge. Solana's decentralized exchange volume grew 150%, and the network became a leader for AI agent tokens. By the end of Q4, Solana's total value locked (TVL) reached $8.6 billion, making it the second-largest blockchain by TVL.

Shiba Inu Whale Move Sparks 18% Rally Potential

A massive transfer of 1.239 trillion Shiba Inu (SHIB), valued at $20.136 million, has been moved from Kraken to an unknown wallet, fueling speculation of accumulation despite recent market declines. SHIB's price has dropped over 35%, reaching a crucial support level of $0.000015.

If this support holds, SHIB could rally by 30% to $0.000020. Current market sentiment is bearish, but the price action could trigger significant liquidations at key levels. SHIB is trading below the 200 EMA, signaling a downtrend, but this could present a buying opportunity for traders anticipating a rebound.

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