DOGE becomes a native token on Solana using Wormhole’s Native Token Transfers and zero-knowledge proof technologies.
Cup and Handle chart pattern and strong volume hint at a DOGE breakout toward the $0.355 price range.
DOGE futures and options activity rises sharply, reflecting growing market interest despite a dip in spot trading volumes.
Dogecoin has officially launched on the Solana blockchain, utilizing Wormhole’s Native Token Transfers (NTT) technology. This integration allows DOGE to function as a native token within the Solana ecosystem, expanding its utility across blockchain networks.
The integration was developed with the support of blockchain teams Psy and RISC Zero, which used zero-knowledge proofs (ZKPs) to secure transactions across chains. Wormhole’s infrastructure ensures that DOGE’s supply and smart contract upgrades remain under control throughout multichain operations.
Wormhole Highlights Growth of Solana Ecosystem
Wormhole has reported over $11.5 billion in asset inflows to Solana, more than any other interoperability platform. With DOGE added, Solana further solidifies its position as a hub for diverse assets, including several major stablecoins and digital currencies.
Technical analysis points to a Cup and Handle formation on DOGE’s daily price chart. This pattern is widely considered a bullish signal. A rounded bottom followed by a shallow downward channel reflects strong buying interest and reduced selling pressure.
The DOGE token surpasses resistance and is now targeting higher levels.
DOGE has crossed the previous point of resistance at $0.245. The spike in trading and price action means there could be further progress toward the $0.355 level if the market keeps this energy up.
Derivatives data shows rising interest in DOGE. Open interest in DOGE futures climbed by more than 11%, now totaling $2.97 billion. Options volume also surged by over 130% to reach $349.57 million, suggesting anticipation of price movement among traders.
While derivative markets gained traction, spot volume across exchanges dropped by 3.93%. This may indicate that traders are focusing on leveraged products as they wait for confirmation of a breakout.
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