The price of Dogecoin has retreated sharply, falling 18% from Saturday's highs. Dogecoin's brief rally ended with this pullback, and the latest chart data shows that it is currently trading at around $109.09. But even with this decline, on-chain activity means that whales or large holders may still be involved in a large number of DOGE transactions, which indicates that bullish momentum may be making a comeback. The given chart shows a downward price trend, and DOGE has failed to hold support and fell below important moving averages. DOGE/USDT chart from TradingView While the 50 EMA struggled to provide some support, the 100 EMA acted as a resistance point during the recent rally. Indicators such as the 200-day moving average (EMA) help assess whether DOGE may fall further or if the meme coin can withstand the current losses.
On the positive side, on-chain data shows that whales, who have historically been the main drivers of Dogecoin's large price swings, have not completely left the market. Although they sold a significant portion of their holdings at the peak, their continued activity increases the likelihood that they are ready to take further action. Whale activity is known to affect Dogecoin's price, and high transaction volume on the network supports the potential for a rebound.
Toncoin is growing again Despite the recent turmoil in the TON ecosystem as a whole, Toncoin has shown its resilience. TON remains strong despite several ecosystem tokens including DOGS, HMSTR, and CATI falling sharply over the past 30 days (-38.77%, 47.08%, and 37.08%, respectively). The main benefit of these meme tokens is that they boost activity in the short term but do not help the ecosystem grow sustainably, despite having little value on their own.
This highlights how Toncoin differs from these riskier investments. Toncoin is backed by the thriving and expanding TON ecosystem, which is backed by Telegram, one of the world’s best messaging platforms, whereas meme coins exist primarily on hype and have limited utility. This fundamental advantage sets Toncoin apart from many other digital assets and gives it a unique edge. TON has a level of credibility and utility that speculative tokens like DOGS and CATI lack due to its connection to Telegram, which gives it access to an existing user base and the potential for widespread integration. As shown in the chart, Toncoin has been able to maintain a relatively stable position despite market volatility.
While the asset did decline from its peak, its robustness remains much higher than some of the more volatile ecosystem tokens. The 50-day EMA remains a key support level for TON, and as long as the price remains above this level, things will remain positive. With solid fundamentals and strategic support, the future should be bright for Toncoin. Solana Has Strong Momentum Solana recently bounced off two important support levels, indicating that the asset still has some bullish momentum. The 50-day EMA has historically been a reliable support level for Solana during retracement phases, and it is the first important level to watch on the daily chart. As shown in the chart, SOL has successfully tested this moving average, holding firm at around $145.95. This shows that traders are viewing it as a buy signal, highlighting the importance of this area in the current market structure. The relative strength index (RSI), currently hovering above the 50 mark, is the second key level to monitor. RSI values above 50 generally indicate bullish momentum, but values below this can suggest a move into bearish territory. With the RSI hovering above 50, Solana’s asset still seems to have strength in it and the uptrend is likely to continue as long as it remains above this level. Solana traders should keep an eye on the short-term price action at these levels. If SOL can hold the support of the 50-day EMA and RSI 50, a bullish breakout is more likely. The $160 range, which has historically acted as resistance, could be the next upside target for SOL. However, a break below these important support levels could see the price fall further to the $140 or even $130 range. All things considered, Solana is still in a consolidation phase. However, traders should keep an eye on these two key indicators to determine if SOL is ready to rise again or is about to enter a weakness phase.
