The original dog-themed memecoin is showing signs of a bullish reversal, says leading crypto analytics platform Santiment.

According to Santiment, Dogecoin (DOGE) is “signaling a potential turning point once crypto markets stabilize” as the number of wallets increases.

“Dogecoin, like most meme coins, has been hammered during the two-month crypto-wide retrace. However, we recommend keeping an eye on the rising level of wallets holding at least one million DOGE, which has recovered during the price dump. Active addresses are also at four-month highs.”

Santiment says that the number of Dogecoin wallets holding over one million DOGE has surged by over 1% since the start of February. In March, the largest memecoin by market cap has also recorded spikes in address activity, with the number rising to more than 150,000 active addresses per day severally.

Dogecoin is trading at $0.166 at time of writing, down by about 62% from the 2025 high of around $0.434.

Turning to development activity among the leading crypto projects, Santiment says there has been a decline in the number of contributors over the past month.

“And if we switch the perspective and zoom in to just the past one month, it’s a bit discouraging to see that every ecosystem in the top 10 has taken their foot off of the gas. Development activity events have declined across the board, with only Cosmos and Solana seeing a rise in contributors.”

Over the past six months, Santiment says the only ecosystem that has recorded a rise in the number of contributors is the layer-2 scaling solution Optimism (OP).

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Ethereum, like the broader crypto market, has experienced a sharp drop in price in recent weeks. From a high of $3,352 at the start of 2025, Ether now trades around $1,800 and $1,900, reflecting a sharp drop to the world’s second-biggest crypto by market cap. Looking at Ether’s bigger picture, it’s down 47% from last year’s value.

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If we go by the latest analyses and observations from commentators, Ether’s price correction will likely be extended. The altcoin is facing a huge bearish wave, with plenty of market factors undermining its price performance.

One significant factor is Standard Chartered’s recent decision to cut its price prediction by 60%, confirming market expectations.

News: Standard Chartered slashes ETH price target!

The bank cuts its 2025 ETH forecast from $10K to $4K, blaming Layer-2 networks like Base, which they say has drained $50B from Ethereum’s market value.#Ethereum #ETH #Crypto #Layer2 #Base #Blockchain

— Andres Meneses (@andreswifitv) March 17, 2025

Ethereum Faces A Descending Channel

Ethereum is currently in a price slump, and many experts expect a much deeper dive in the next few weeks. Ether’s price is currently floating above the $1,900 level as it continues its bearish price movements.

Analysts use the MACD indicator to verify and confirm the asset’s bearish sentiment. Also, the asset’s moving averages suggest a neutral trend and possible price consolidation.

Ethereum (ETH) remains in the correction zone today, trading around $1,874. The price continues to move in a descending channel, indicating a possible continuation of consolidation. Moving averages confirm the neutral trend: the price is holding below the 50-day and 200-day MA,… pic.twitter.com/R3vNqFBDkZ

— LVelarde (@0xvelarde) March 17, 2025

According to a crypto user named “LVelarde,” Ether’s price continues to follow the descending channel, suggesting price consolidation. The asset’s price is consolidating below its 5-day and 200-day moving averages, with traders looking for possible rejection or breakout. Since it fell below $2k, sentiments have been generally bearish, with many questioning its future price trends.

Standard Chartered Cuts Price Estimates For Ethereum

Even some of the biggest banks, like Standard Chartered Bank, are lowering their expectations of Ethereum. From a high of $10,000, the bank is reducing its price target to just $4,000, explaining that the Layer 2s are impacting its bottom line.

The bank added that changes and improvements to the blockchain affected its overall value, like its shift to the proof-of-stake and scaling roadmap.

Standard Chartered used Coinbase’s Base Layer 2 as an example, suggesting that the project has cost Ethereum $50 billion from its market cap. According to Geoff Kendrick, Standard Chartered analyst, Ethereum’s losses will continue as Base’s dominance in the industry continues.

Kendrick calls this the blockchain’s “midlife crisis”, adding that Ethereum’s chain has become a commodity with its Layer 2 framework.

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Things Ethereum Can Do To Address Its Slide

According to Kendrick, Ethereum can address its downturn in two ways. First, it can leverage its security-based dominance in the context of the tokenization of real-world assets (RWA). If Ethereum focuses on security, it can maintain its 80% market share.

Second, it can charge taxes for its Layer 2s, but it’s highly unlikely. Kendrick expects Ethereum to continue its underperformance in the short term.

Featured image from Bloomberg, chart from TradingView

A closely followed crypto analyst and trader is warning that the payments token XRP is at risk of a massive collapse.

In a new post, crypto trader Ali Martinez tells his 133,300 followers on the social media platform X that XRP may be forming a bearish head-and-shoulders pattern (H&S) on the daily chart.

A head-and-shoulders pattern typically suggests that an asset is losing momentum and could reverse its uptrend if the price breaks below the structure’s support.

“XRP is shaping up a head-and-shoulders on the weekly chart. It spotlights the $2 support. Holding it is crucial.”

Looking at the trader’s chart, he seems to predict that XRP will fall to $1.255 if crypto bears shatter support at $2.

XRP is trading for $2.38 at time of writing, up 2.3% in the last 24 hours.

Next up, the analyst suggests Solana (SOL) may soar to the upper bound of an ascending channel after respecting the pattern’s diagonal support around $126.

An ascending channel is traditionally seen as a bullish pattern, indicating that an asset is printing higher highs and higher lows.

“Solana set to bounce? Eyeing a climb from the channel’s base to the upper resistance at $140.”

Solana is trading for $129 at time of writing, up 1% in the last 24 hours.

Lastly, the trader says the smart contract project Qtum (QTUM) may be gearing up for a huge corrective move if it moves below a key support level that has remained intact since November 2022.

“QTUM could be on the verge of a breakout! Keep an eye on the $1.88 support level.”

Based on the trader’s chart, he appears to predict that QTUM may plunge to as low as $0.63.

QTUM is trading for $2.23 at time of writing, up 4.2% in the last 24 hours.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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