The recent crypto market feels like a roller coaster - soaring high one moment, then suddenly making a sharp turn the next. Especially for Dogecoin (#DOGE ) and Solana (#sol ), these two hot coins are currently at the forefront, with one facing critical support at risk and the other seeing the ETF concept gaining momentum. So what exactly is happening? Let's briefly go through it 🧵👇
Dogecoin: Key support level of $0.168 is a life-and-death line!🐕
Dogecoin has not been doing well lately, hovering near the key support level of $0.168. This is the second test of this position since April. This line is very important; if it breaks, the consequences may not be good...
Why is it so critical? 🧃
According to crypto analyst Ali Charts, DOGE has fallen 30% from May's peak, and if the weekly closing price falls below $0.168, it may enter what traders call the 'price gap area' - meaning almost no one is willing to take over below, which could lead to a rapid decline ⚠️
According to CoinCodex data, Dogecoin has shown an upward trend on 13 out of the last 30 days, with an average price fluctuation of about 10.57%
Key interpretation: 🧾
👀 The market is closely watching a major event - the approval progress of the Dogecoin spot ETF. If US regulators give the green light, large institutional funds may flood in; but if it's denied or delayed, Dogecoin might face more selling pressure.
Solana: The ETF concept is heating up, can it ignite the price? 🌞
On the other hand, Solana has made a strong impression with the ETF concept 📈
📣 The Solana spot ETF proposed by VanEck (code VSOL) has appeared on the active list of DTCC!
Although this does not mean full approval yet, the 'entry' of DTCC is already a key step towards listing, indicating that trading is closer to realization.
The market response has been extremely enthusiastic 💥
According to the prediction platform Polymarket, the probability of Solana ETF approval by 2025 has skyrocketed to 91%!
Moreover, some analysts have stated that news could come as early as July, and it may be finalized by October at the latest.
However... the price of SOL has not 'bounced up' like the sentiment suggests, still fluctuating around $147, with a slight decline during the day.
From a technical perspective 📊
👉 While the ETF is a big positive, it currently appears that more funds are needed to truly drive the market out of a rebound.
To summarize: This is Dogecoin's 'defense battle' and Solana's 'shockwave'! ✅
Whether you are a holder or just observing, the current market is very critical:
Dogecoin needs to hold the $0.168 mark, otherwise it may continue to plunge in the short term.
Solana needs the news of the ETF to materialize in order to drive the price higher, but it still faces technical pressure.
📆 Next important time point:
The ETF approval developments in mid to late June, along with Dogecoin's weekly closing price, may directly determine the next direction!
💬 So the question arises: Are you optimistic about Dogecoin's strong rebound? Or do you bet on Solana to take advantage of the ETF benefits first? Leave a comment to discuss 👇
DYOR, manage risks well, and may everyone set sail in the crypto world!🌊
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