The Ethereum Foundation has announced a significant shake-up in its leadership ranks, appointing two new co-executive directors as it embarks on a fresh strategic direction. Hsiao-Wei Wang and Tomasz Stańczak will jointly take the helm of the non-profit that stewards Ethereum’s development, replacing the sole executive role previously held by Aya Miyaguchi​.

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On the other hand, Miyaguchi, who served as Executive Director for seven years, is transitioning to the newly created position of Foundation President​. This interesting change in leadership comes as Ethereum’s price continues to undergo a decline towards the $2,000 mark.

Co-Executive Directors Take Helm Of The Ethereum Foundation

Ethereum’s new leaders bring a blend of deep protocol expertise and industry experience. Hsiao-Wei Wang, a seven-year veteran of the Ethereum Foundation’s research team, was a key contributor to core initiatives like the Ethereum 2.0 beacon chain and sharding research. She also earned respect as a community builder by organizing Ethereum developer events in Taiwan.

Tomasz Stańczak, meanwhile, is best known as the founder of Nethermind, one of Ethereum’s major software clients, which he grew from a small project into a global blockchain infrastructure company​. Stańczak’s expertise in engineering and talent development is expected to strengthen the Foundation’s technical teams, and he’s even in the process of stepping down as Nethermind’s CEO to focus on this new role​.

This leadership restructuring is a shift from Ethereum’s earlier setup, where decision-making often centered on a few figures like Miyaguchi and even Ethereum creator Vitalik Buterin. Buterin, who had hinted that changes were coming, took to social media platform X to publicly congratulate Wang and Stańczak on their appointments.

In practical terms, the new directors are expected to double down on technical R&D (like scaling improvements and protocol upgrades) and nurture the developer community, all while keeping Ethereum’s ethos of a permissionless and censorship-resistant financial platform intact.

Price Action More Bearish Than Bullish

Ethereum’s market performance has been on a full decline in recent weeks, which is an extension of its underperformance in the current market cycle. After a strong start to the year when the ETH price surged to about $3,700 in early January, the momentum has been of a decline for the past two months.

Notably, ETH’s lack of a bullish price momentum has been aggravated by Bitcoin’s price crash in the past week, which has flowed into the altcoin market. This fall in the price of Ethereum has been accompanied by a decline in on-chain activity and sentiment reaching a 12-month low.

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Transaction volumes in late February dropped about 15%, to roughly $12 billion per day, the lowest in two months, while the number of active Ethereum addresses fell by 10% over the same period​.

At the time of writing, Ethereum is trading at $2,210 and is at risk of breaking below $2,200 this week. 

Featured image from VOI, chart from TradingView

Dogecoin is holding firm above major support at $0.22 despite repeated threats to break below in the just concluded week. Amidst these fluctuations, an interesting technical indicator suggests that Dogecoin’s long-term rally is still intact.

This technical indicator’s outlook was pointed out by crypto analyst Trader Tardigrade, who used the Gaussian Channel, a popular momentum tool, as evidence that Dogecoin’s bullish momentum is still in play despite the current selling pressures.

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Gaussian Channel Shows Continued Bullish Strength For Dogecoin

Dogecoin’s price trajectory has been highlighted by a decline since mid-January. This decline has seen Dogecoin fall by as high as 47% from a lower high of $0.4159 on January 18. The price correction is even more pronounced when considering its multi-year high of $0.475, which it achieved on December 9, 2024, from which Dogecoin has now corrected by approximately 54%.

This notable correction has also seen the development of a few bearish signals on the Dogecoin price chart. One such bearish development is the rejection at a macro resistance and the failure to reclaim the macro golden pocket in the recent week. 

However, despite the notable correction in the Dogecoin price, the meme coin seems to be still trading in an uptrend in the longer term. This long-term outlook is revealed through the analysis of Dogecoin on the weekly candlestick timeframe using the Gaussian Channel.

The Gaussian Channel is a lesser-known technical analysis tool that helps identify trends and cycles in price movements by highlighting green and red zones in different market cycles. The green zones represent periods of upward momentum, where the price is expected to keep growing. On the other hand, red zones indicate periods of correction or consolidation, during which the market pauses before resuming its upward trajectory. 

According to a Dogecoin price chart shared by crypto analyst Trader Tardigrade on social media platform X, Dogecoin entered into its most recent green zone on the Gaussian Channel in 2024. However, despite the recent correction, it has remained in this green zone, indicating that Dogecoin’s uptrend is still active in the long term. 

Image From X: Trader Tardigrade

Long-Term Price Target For DOGE

With the Gaussian Channel still indicating the green zone for Dogecoin, the rally could resume anytime soon. According to Trader Tardigrade’s projection, this rally will be enough to push DOGE above multiple resistance levels at $0.3, $0.4, and the recent multi-year high of $0.475.

If momentum builds and buying pressure increases, Dogecoin may even retest its all-time high of $0.7316, which has remained unchallenged since the peak of the 2021 bull run. 

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Beyond these immediate targets, Tardigrade’s analysis suggests that the meme coin’s long-term trajectory could extend well beyond the $1 mark. The forecast envisions an even more aggressive rally that could see Dogecoin climbing as high as $4.1. At the time of writing, Dogecoin is trading at $0.247, up by 1.5% in the past 24 hours but down by 25% since the beginning of February.

Featured image from TheStreet, chart from TradingView