Dogecoin (DOGE) is eying an imminent breakout as it tests critical resistance areas. After posting a significant gain of over 80% in the past week, crypto experts are projecting another 50% surge that might see the DOGE token hit the $0.34 mark. This impressive Dogecoin price performance has been highly attributed to Bitcoin surpassing the $81K mark—a move that has seen whales accumulate DOGE tokens.

On the other hand, Solana has joined the $100B club by market cap, having hit the over $212 price mark for the first time since the 2021 crypto bull market peak. The Solana price has also gained by over 30% in just a week as it continues to aim for its ATH of $260.

Dogecoin Price Eyes $0.5 Target

Dogecoin has continued to extend its gains, trading around the $0.29 mark. Its open interest hit a new ATH of over $2.26B, signaling a surge in new capital, as the trading volume surged to over $18.9B. The Dogecoin weekly chart has also broken and closed above the ascending trendline, which had acted as a resistance zone.

If Dogecoin’s ascending trendline holds as support, it might extend its rally by another 21% to retest its October 2021 high of $0.34. The RSI on the weekly chart is currently at 87, above the overbought threshold of 70, signaling caution of a likely pullback in the price of DOGE. However, Dogecoin’s on-chain data supports further bullish momentum, with an increasing open interest for the token.

An increase in OI usually represents new buying, which suggests a bullish outlook. The Dogecoin price could continue a bullish momentum, eyeing the $0.5 mark provided it remains above its resistance level of $0.29. The downside momentum could also prevail if the Dogecoin price breaks below $0.28, with support at the $0.27 mark.

Solana’s Price Prediction: What Are SOL’s Odds of $500?

Solana’s recent performance has stirred optimism. The SOL token gained over 48% in just a month, surpassing the $216 mark to become one of the top market performers. With such a strong potential, analysts predict that it could surge even higher to hit the $500 barrier in the near term.

The SOL token’s immediate resistance levels are around the $230 and $250 mark. A breakout above these levels could lead to further gains, with technical analysis pointing out critical support within the $200 level. The 100—and 200-day SMAs, currently below the Solana price, suggest a continuous bullish trend, with the RSI at 77.

Moreover, increasing institutional interest and potential collaboration within the NFT and DeFi spaces could also fuel Solana’s price growth momentum. While the $500 target might seem aspirational, Solana’s short-term prospects seem realistic given the incoming US administration’s pro-crypto stance.

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