Last night, all three major US stock indices closed lower, with the Dow down 0.54%, the S&P 500 down 0.61%, and the Nasdaq down 0.62%. As a result, stocks related to cryptocurrencies also saw significant declines, with MicroStrategy (MSTR.O) down 7.5% and Coinbase (COIN.O) down over 9%. These factors may be one of the important reasons for the decline in the overall Bitcoin market.
In the past 24 hours, the cryptocurrency market experienced a massive liquidation event, with a total of 582,486 people liquidated, amounting to a total of $1.751 billion, setting a recent record. This serves as a warning to investors that during a bull market cycle, contract trading carries very high risks, with frequent occurrences of sharp rises and falls.
Regarding Bitcoin, the anticipated adjustment at the 4-hour level has arrived. Last night, driven by panic selling in the US stock market, Bitcoin dropped to around $9,400. Although it found support in the short term, it still needs to be validated repeatedly. It is expected that the market may continue to be in a state of adjustment and fluctuation over the next 1-2 weeks.
For the altcoin market, it is important to focus on strong-performing coins. Each significant drop often presents potential accumulation opportunities, but caution is still needed to manage risks.
Another 530,000 people have been liquidated across the network! Which altcoins can still be focused on after the spike?
PEPE
PEPE's performance in the cryptocurrency market is noteworthy, further solidifying its position as a leading meme coin. According to CoinMarketCap data, PEPE's price surged 27.97% in the past week, with a market capitalization reaching $10.91 billion, reflecting the market's growing interest and confidence in the token.
The technical indicators also support the bullish sentiment. According to TradingView data, PEPE's current trading price is above its 10-day EMA ($0.0000092) and 30-day EMA ($0.0000093), indicating strong upward momentum. Additionally, momentum indicators suggest that the token is in the buy zone, indicating that its bullish trend may continue. As the price approaches previous resistance levels, market expectations for a breakout are increasing.
Currently, the price of PEPE is stable at $0.00002325, up 2.93% for the day. However, its trading range shows some volatility, with a daily low of $0.00002455 and a high of $0.00002463.
In addition, the significant increase in whale activity has added more highlights to the market. In the past week, there have been over 244 large transactions involving amounts exceeding $100,000, which is directly linked to the surge in PEPE's price. The increase in these high-value transactions indicates strong interest from large investors in the token, which may also drive further market volatility. Additionally, the increase in trading volume could attract more capital inflows, further boosting market sentiment.
DOGS
In the past week, the DOGS (DOGS) token built on the TON Network has performed strongly, with its price soaring over 25%, attracting the attention of many traders and investors. This remarkable increase is mainly due to strong buying momentum in the market and bullish sentiment. Currently, DOGS has a market capitalization of $449 million, indicating further upside potential.
From a technical analysis perspective, DOGS' market performance is quite optimistic. The current trading price is above the critical 0.618 Fibonacci retracement level, providing strong support for the market. Traders are focusing on the target price of $0.0011343, corresponding to the 1.618 Fibonacci extension. If this level is broken, DOGS is expected to rise further to the next target price of $0.0015458.
Unlike many meme coins that rely solely on hype, DOGS stands out with its utility and innovation. Its deep integration with the Telegram platform aims to reward active and loyal users, enhancing ecological value. Additionally, of the total supply of 550 billion coins, 81.5% is specifically reserved for the community, with 73% allocated to the most active members, showcasing a strong community orientation.
Currently, the trading price of DOGS is $0.000673, with a weekly increase of 25.35%. This performance not only reflects its growing utility but also highlights the investment confidence brought by potential partnerships. Meanwhile, technical analysis shows that DOGS has broken through a significant resistance level, laying the foundation for further upward movement in the future.
For investors looking for entry opportunities, the support level around $0.0006565 is a key area to watch. If DOGS can break through the current resistance level, it will create favorable conditions for sustained upward movement in the short term.
LINK
Chainlink (LINK) is considered one of the most promising cryptocurrencies to watch in 2025. From a technical perspective, its weekly chart shows that the price has broken through the key resistance level of $22.85, which was the high on March 11 of this year. At the same time, LINK has successfully retested the 50% Fibonacci retracement level and gained strong support from the 50-week moving average.
Based on the current market trends, LINK is likely to rise further, with a target increase of 115%, aiming to retest the historical high of $52.95. If this level is successfully broken, it will lay the foundation for greater upward potential, further confirming its upward trend.
Market analysts also hold a positive outlook on LINK's long-term potential. As pointed out in last week's analysis, with the continued accumulation by whales, the demand for LINK is expected to rise further, and some experts predict its price could significantly increase in the future, with a potential rise of up to 500%.
