Solana News Today: Dogecoin Surpasses $0.24 Resistance Amid Rising Volume and Bullish Momentum

Dogecoin (DOGE) has recently broken through the crucial $0.24 resistance level, marking a significant shift in market sentiment and rekindling bullish momentum after several failed attempts to rise above this level in previous weeks. The breakout has been supported by an increase in trading volume, suggesting real buying pressure and reducing the likelihood of a false move. Technically, DOGE is now comfortably above its 50-, 100-, and 200-day EMAs, reinforcing the bullish structure. A continuation of this trend could lead to a target range of $0.27–$0.28, with the potential for a golden cross — where the 50-day EMA crosses above the 200-day EMA — if upward momentum persists [1].

Shiba Inu (SHIB) is showing signs of a strong recovery following its breakout from a descending triangle pattern, indicating the start of a new upward trend. This movement aligns with a recovery from an upward trendline that has provided support since early July. The 200-day EMA remains a key level to watch, as historically it has acted as a critical barrier for SHIB’s direction. A sustained move above this level could open the path toward $0.000015 and possibly even the $0.00002 region. Recent on-chain data also supports a bullish case, with SHIB experiencing a 30% increase in daily unique wallet activity earlier this month, suggesting renewed market interest and potential new liquidity [1].

Solana (SOL) has continued its bullish momentum, recently surging to just below the $205 resistance level. This rise follows a broader market trend observed since 2021, in which Ethereum’s initial price spike is often followed by a correction and a subsequent rally in Solana. The recent increase in SOL’s price has been supported by strong volume, indicating genuine buying pressure. Solana remains technically strong above its 200-day EMA and has benefited from renewed attention in the market as traders shift capital from Ethereum to high-performance layer-1 blockchains. The next major test for bulls will be a breakout above $205 with strong volume, which could lead to further gains toward $220 [1].

The movements in DOGE, SHIB, and SOL reflect broader technical and behavioral patterns commonly observed in the cryptocurrency market. The confirmation of key resistance levels, increasing volume, and positive on-chain metrics all contribute to a strengthening bullish case. However, the sustainability of these trends will depend on whether buying pressure remains consistent and whether other market forces — such as broader macroeconomic conditions or shifts in trading sentiment — continue to support the upward trajectory [1].

Source: [1] Dogecoin (DOGE) Destroyed Bears, Shiba Inu (SHIB) Set to Explode to $0.00002, Solana (SOL) Skyrockets to $200 (https://u.today/dogecoin-doge-destroyed-bears-shiba-inu-shib-set-to-explode-to-000002-solana-sol-skyrockets-to-200)