Elon Musk posted a Shiba Inu-related image on platform X in line with the US elections, where he is seen wearing a 'Make America Great Again' hat, raising his fist, and the Shiba Inu in the image mimics the same action. The US elections are currently ongoing, and Musk is a strong supporter of Trump, often appearing alongside him to speak. 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 daily level has stabilized above the moving average, with a short-term support level at 0.136. If the trend continues to rebound, the next target for DOGE will attempt to break through the daily resistance level at $0.165. If $0.165 is surpassed, DOGE will aim for the recent six-month high near $0.175. With Musk's continued popularity, the short-term increase in DOGE could persist, although the election results will also impact the coin's price movement.
According to Lookonchain's monitoring, several whale addresses have been continuously accumulating SOL recently, totaling $50 million in SOL, which is one of the reasons for the recent rise in SOL.
From the chart, it can be observed that after two days of rebound, the coin price has once again shown a V-shaped reversal, with prices stabilizing above the moving average, indicating strong bullish momentum. From the candlestick chart, SOL has repeatedly tested above $190 after pulling back from above $200 without stabilizing, suggesting significant selling pressure in the 187–194 range. Therefore, if SOL's price does not break through this selling pressure area with increased volume, it may continue to pull back. If the coin price breaks through this area with volume, SOL's price will quickly reach above $200. In the short term, SOL needs to focus on breaking through $190; if the price breaks through with volume and continues to rise, SOL above $200 will be imminent.
According to Bitcoin Magazine's post on platform X, Tether CEO Paolo Ardoino disclosed that the company holds 82,454 BTC, worth approximately $5.55 billion. Last week, net inflows for Bitcoin ETFs reached $997.7 million, showing positive growth for the third consecutive week. Aside from Bitcoin returning to $65,000 on Tuesday, the inflows for this week have all been positive.
After two days of rebound, the price has once again returned to above the daily moving average. The short-term support level is at $66,913. The daily trend of Bitcoin has been alternating between bullish and bearish, indicating significant divergence in recent trends. Additionally, Bitcoin's Bollinger Bands have recently narrowed to historical lows, suggesting that the market is about to experience significant price volatility. Recently, large holders and whales have accumulated a substantial amount of coins, but the coin price has not shown a significant increase, indicating that the market is poised for movement. Therefore, as long as Bitcoin does not fall below $66,913 in the short term, it will attempt to push towards $70,080. Conversely, if whales and large holders continue to accumulate, causing the price to drop below $66,193, then in the next phase, Bitcoin might find support above $62,457 before rebounding again.
There is about a week left until the US elections end. Currently, based on support rates, Trump's support is at 65.6%, while Harris's is at 34.6%. If there are no major changes, the next US president may likely 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 also a former president who supports the crypto market. Whether the peak bull market arrives after the election or ends the bull market will essentially be decided in this final week.
Recently, market enthusiasm seems high, but in reality, most are chasing meme coins. However, peak bull markets are often driven by secondary markets. If you are still hesitating whether to enter the market, you will likely chase high prices during the upward trend and get stuck 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~
