Despite recent declines to $0.209 due to intense bearish pressure, Dogecoin's price action may be determined by three key support levels in the future.

According to the current price chart, these levels are based on past local peaks, which have a history of serving as areas of high demand during corrections.

Dogecoin price may be determined by three key support levels in the future.

According to the current price chart, these levels are based on past local highs, which have a history of serving as areas of high demand during corrections.

Dogecoin price is currently trading around $0.205, which is the first significant support level. This level was a prior local high before DOGE’s spectacular rally in late 2024.

If DOGE is able to maintain above this zone, then price levels may return to $0.25, which could lead to a brief recovery.

The next crucial level to keep an eye on is $0.185 if DOGE loses its immediate support.

This price was another local high before the market took off and could now serve as a buffer for bulls.

If SHIB recovers from this area, then DOGE may regain lost ground, but if bulls do not hold, then more losses may result.

The final major support level is at $0.160, which was a significant resistance structure before DOGE jumped past $0.40.

Should prices drop this low, then the asset may be put to the test. If this level is lost, then DOGE may enter a longer bearish phase and fall to lower lows.

If DOGE stays above $0.205 and sentiment improves, then it is likely that the market will rebound toward $0.25-$0.28.

Nonetheless, the asset may experience a far more severe correction if bearish pressure continues and DOGE falls below $0.160.

These important support levels will be crucial in determining its next significant move.

Shiba Inu experiences sharp drop

Shiba Inu is attempting to recover lost ground following a sharp drop that caused the meme coin to lose about 20% of its value.

SHIB is currently trading at about $0.00001470, indicating a short-term recovery. However, there is strong resistance in the way that could dictate the assets' next move. In spite of the recent improvement, SHIB is still in a vulnerable position.

The asset is getting close to a trendline that has been descending and has served as resistance in past recovery attempts. A fresh sell-off might be initiated if SHIB is unable to rise above this level, which would force the price to decline once more toward important support areas around $0.00001300.

However, if SHIB is able to break through the downward trendline, it may pick up steam and advance toward the subsequent resistance levels at $0.00001596 and $0.00001793. However, since bearish sentiment continues to rule the overall market, it will take significant buying pressure to recover these levels.

The downtrend may continue if SHIB is rejected at resistance and declines back toward $0.00001300 or even $0.00001100. Despite SHIB's encouraging recovery attempt, there is still a chance for more declines. In order to avoid another severe correction, traders should keep a close eye on impending resistance levels.

SOL whales are not sleeping

Even as Solana encounters difficulties, major investors are amassing the asset at reduced prices behind the scenes. A whale specifically bought 50,000 SOL (worth $6.77 million) at the bottom seven hours ago, indicating a resurgence of interest in the asset's long-term prospects.

This same whale sold 122,921 SOL between Nov. 20, 2024, and Jan. 21, 2025, for about $28-$23 million at an average price of $230. Since SOL is currently trading at a substantial discount, he has begun repurchasing at a significantly reduced cost, indicating a phase of strategic accumulation.

Despite recent setbacks, these large purchases frequently show that institutional players and major investors still see value in SOL. In the past, Solana has encountered many difficulties, such as network disruptions, regulatory issues and a decline of 80% from its peak during its most difficult market times.

Nevertheless, SOL has continuously bounced back from these setbacks, demonstrating its tenacity and ongoing significance in the cryptocurrency ecosystem. There is little reason to question SOL's long-term viability given its solid fundamentals and growing whale accumulation. With a burgeoning developer community and ongoing improvements enhancing its functionality, the network continues to be among the most popular in the blockchain space.

Although whale accumulation is a sign of strength, a price retracement is always possible. SOL may return to important support levels around $130 if selling pressure continues before a long-term recovery. But a return to $1