Market analysis hints at XRP and Solana price dip, Dogizen could be a safe haven
XRP has fallen below $2.50 while Solana has dipped under $200.
Dogizen’s DOGIZ token currently costs $0.000086 after six presale stage gains.
Dogizen offers stability amid XRP and Solana’s price volatility.
XRP and Solana (SOL) are navigating through turbulent waters, with both assets experiencing significant price drops. With market sentiment pointing at further potential downturns, investors are looking for safer havens.
Dogizen, a newcomer in the crypto space, is presenting itself as a potentially stable investment avenue, particularly with its unique proposition as the first Telegram ICO.
XRP price falls below $2.5
After hitting a high of $3.38 on January 16, 2025, just a few cents shy from its all-time high of $3.40, which it hit on January 7, 2018, XRP has seen a sharp decline over the past two weeks. Its price has fallen by 26% in the past two weeks, positioning it below $2.50.
The Relative Strength Index (RSI) for XRP sits at 43.12, suggesting a balanced market where neither buyers nor sellers are in clear control.
The nearest resistance level is at $2.5698 with a support at $2.3282. Investors are closely watching these levels since a surge above $2.5698 could result in a new ATH, while a fall below the $2.3282 support could lead to further declines.
Solana (SOL) drops below $200
Similarly, Solana’s price is also grappling sharp price drop, having decreased by 26% over the last two weeks and 9.28% over the past month to trade at $198.98 at press time.
The RSI at 41.42 places Solana in a neutral zone, suggesting that the market is neither overbought nor oversold, thus providing potential for significant price movement in either direction.
With resistance at $218 and support at $194, Solana’s trajectory could go either way. Breaking above resistance would signal a bullish trend, potentially yielding a 13% increase, but a slip below support could see Solana dip to $185.
Dogizen offers a compelling alternative to investors
In contrast to the rollercoaster ride of XRP and Solana, Dogizen emerges with a different narrative. With the presale of its DOGIZ token nearing its end on February 7th, 2025, Dogizen has already raised $4,028,605 out of a $4,760,000 goal, showing significant investor interest.
The DOGIZ token is currently going for $0.000089 after steady increments with each presale stage. In the next presale stage, the token’s price is expected to jump to $0.000094.
Positioned as the first Initial Coin Offering (ICO) on Telegram, Dogizen leverages the platform’s vast user base to redefine gaming and crypto interaction. With over 1 million users already engaged, the project’s foundation is built on community involvement and innovative gaming solutions.
Dogizen’s roadmap focuses on expanding its gaming ecosystem, which could offer stability in contrast to the more volatile trends seen in XRP and Solana. The project’s tokenomics are designed with a community-centric approach, allocating 40% of its total supply to its community, which could foster a more stable token price through shared incentives.
While XRP and Solana face immediate pressures from market corrections, Dogizen’s structured growth plan and community engagement might provide a safer investment environment. It’s not immune to market volatility, but its unique position in the Telegram ecosystem and its focus on gaming could make it a compelling alternative for those looking to diversify away from traditional crypto assets showing signs of bearish trends.
With market analysts predicting further dips for established cryptocurrencies like XRP and Solana, Dogizen stands out by offering a blend of innovation, community, and a new platform for growth in the Telegram environment.
Whether it will prove to be a ‘safe-haven’ remains to be seen, but for investors wary of current market dynamics, Dogizen presents an intriguing option to consider.
Why These Altcoins Are Trending Today — February 5
Why These Altcoins Are Trending Today — February 5
The cryptocurrency market has resumed its downtrend today, with the market cap losing $125 billion over the last 24 hours.
However, a few altcoins have defied the broader downtrend, attracting traders’ attention with their price movements.
Official Trump ($TRUMP )
The Donald-Trump-linked Solana-based meme coin TRUMP is one of the most searched altcoins today. This comes amid the double-digit surge in MELANIA’s value over the past 24 hours, which has caused it to rank as the market’s top gainer.
TRUMP trades at $18.33 at press time, registering a 6% price uptick in the past 24 hours. However, despite this rally, readings from its 12-hour chart suggest that bearish control over the meme coin remains significant.
For example, its Elder-Ray Index is at -7.09 as of this writing. This indicator measures the relationship between an asset’s buying and selling pressure in a market. When the index is negative, it suggests that sellers are in control, and the asset’s price is likely to face downward pressure.
Should this play out, TRUMP could shed its recent gains and fall toward $16.
TRUMP Price Analysis.
On the flip side, if the bulls regain market control, they could propel the meme coin’s value to $28.23.
Venice Token (vvv)
VVV is a trending altcoin today. Its price has jumped 44% in the past 24 hours despite allegations of misconduct against its developer team.
analyst claims the team illegally issued themselves $5.7 million worth of VVV tokens after the Coinbase listing, raising transparency concerns
According to analysis, the team allegedly sold $450,000 worth of these tokens via a fresh wallet linked to their multi-signature wallets.
However, these claims remain unverified as VVV notes a double-digit spike today. If the rally continues, the altcoin’s price could touch $6.75.
VVV Price Analysis.
Conversely, a price correction could cause VVV to drop below $5 to exchange hands at $3.65.
Solana ($SOL )
Layer-1 (L1) coin SOL is also a trending altcoin today. As of this writing, it is trading at $205.13, recording less than a 1% price fall. Over the past week, the coin’s value has plunged 12% due to a broader market decline and low activity on the Solana network.
On the SOL/USD one-day chart, readings from the coin’s Directional Movement Index (DMI) reflect the bearish outlook. At press time, the Positive Directional Index (+DI, blue) is below the Negative Directional Index (-DI, orange), confirming the strength of SOL bears.
This indicator measures trend strength and direction using two key lines: the Positive Directional Index and the Negative Directional Index. When the +DI is below the -DI, bearish momentum is stronger than bullish momentum, suggesting a prevailing downtrend.
If the downtrend continues, SOL’s price could fall below the critical $200 level to $187.71.
SOL Price Analysis.
However, if market sentiment shifts from negative to positive and SOL accumulation resumes, its price could climb to $229.03.
cryptocurrency market is experiencing a downward trend. Bitcoin (BTC) is trading at $98,166, reflecting a 1.2% decrease from the previous close, with an intraday high of $100,797 and a low of $96,026. Ethereum (ETH) stands at $2,774.39, down by 1.34%, with a high of $2,870.86 and a low of $2,634.37. Other major cryptocurrencies like BNB, Cardano (ADA), and Solana (SOL) have also seen declines of 2.2%, 0.72%, and 6.42% respectively.
The crypto market is down today, with BTC at $98,166 (-1.2%) and ETH at $2,774 (-1.34%). BNB, ADA, and SOL dropped 2.2%, 0.72%, and 6.42%, respectively. The downturn triggered $483M in liquidations, with BTC and ETH seeing the most impact.