Expectations that Dogecoin will experience a new wave of rise, after Elon Musk returns to the forefront following the end of his duties in the White House, suggesting that Musk will reactivate his old strategy of supporting cryptocurrencies, especially with the escalating dispute between him and Donald Trump.
Dogecoin had jumped by 196% last November following Trump's victory in the presidential elections, supported by Musk's appointment at the time as head of the 'Department of Government Efficiency' (DOGE). However, the currency lost most of its gains amid a decline in public support for the initiative, and it is currently trading at $0.1935.
In contrast, Solana is facing ongoing price pressure, having dropped about 13% over the last month, but it is still holding steady at the $160 level. Nevertheless, Matt Mina, senior research analyst at '21Shares', expects the currency to achieve a near jump if it can surpass the resistance level at $180.
Mina expects Solana to record peak levels that may exceed $300 by the end of the year, driven by key technical factors, most notably the anticipated 'Firedancer' upgrade during 2025.