Elon Musk posted a Shiba Inu-related image on platform X to coincide with the U.S. elections, in which Elon Musk is wearing a 'Make America Great Again' hat and raising his fist, while the Shiba Inu in the image mimics a similar action. The U.S. elections are currently ongoing, and Musk is strongly supporting Trump while often speaking alongside him. Of course, DOGE is also one of Musk's favorite meme coins. As a result of this news, the price of Dogecoin has also risen.
From the chart, it can be seen that the $DOGE daily level has stabilized above the moving average, with a short-term support level at 0.136. If the market continues to rebound, the next target for DOGE will attempt to break through the resistance level of $0.165. If $0.165 is broken, DOGE will head towards the recent six-month high around $0.175. With Elon Musk's recent popularity remaining high, the short-term increase in DOGE may continue, although the election results will also affect the price trend.
According to Lookonchain monitoring, several whale addresses have recently continued to accumulate SOL, totaling $50 million worth of SOL, which is one of the reasons for the recent rise in SOL.
From the chart, it can be seen that $SOL after a two-day rebound, the price has once again shown a V-shaped reversal, with prices stabilizing above the moving average, indicating strong bullish momentum recently. From the candlestick chart, after a pullback from above $200, SOL has repeatedly struggled above $190 without stabilizing, indicating significant selling pressure in the range of $187–194. Therefore, if SOL's price does not break through this selling pressure area in the short term, it may continue to pull back. If the price breaks out of this area, SOL will quickly reach above $200. In the short term, SOL needs to focus on breaking through $190; if the price breaks out with volume and continues to rise, then SOL above $200 will be just around the corner.
According to a post by Bitcoin Magazine on platform X, Tether CEO Paolo Ardoino disclosed that the company holds 82,454 BTC, worth approximately $5.55 billion. Last week, the net inflow of Bitcoin ETFs reached $997.7 million, marking positive growth for the third consecutive week. In addition to Bitcoin returning to $65,000 on Tuesday, this week's inflows have all been positive.
After a two-day rebound, $BTC the price has once again returned above the daily moving average. The short-term support level is at $66,913. Recently, Bitcoin's daily level has been alternating between bull and bear trends, indicating considerable divergence in sentiment. Moreover, Bitcoin's Bollinger Bands have narrowed to historical lows, suggesting that the market is about to experience significant price volatility. During this period, large holders and whales have accumulated substantial positions, yet the price has not shown a significant increase, indicating that the market is poised for movement. Therefore, as long as Bitcoin does not drop below $66,913, it will aim for $70,080. Conversely, if whales and large holders continue to accumulate, causing the price to fall below $66,193, Bitcoin may find support above $62,457 before rebounding again.
There is about a week left until the end of the U.S. elections. Currently, based on support rates, Trump's support rate is 65.6%, while Harris's support rate is 34.6%. If there are no significant changes, the next U.S. president may be Trump. Musk is currently aligned with Trump, and he is also one of the most famous billionaires in the crypto space. The promotion of meme coins owes much to Musk, and Trump is a former president who supports the crypto market. Whether a peak bull market will come after the elections or the end of the bull market will essentially be determined in this last week.
Recently, the market appears to be very active, but most of it is chasing meme coins. However, peak bull markets are often driven by the secondary market. If you are still hesitating about entering the market, you will end up chasing highs during the rise and getting trapped at the peak, missing out on this bull market.
That's all for today, feel free to leave a message if you have any questions~
