Dogecoin Expands Network to Solana, Target Price of $0.355 Closer!

Jakarta, Pintu News – Dogecoin (DOGE), the popular cryptocurrency with a Shiba Inu dog mascot, is now expanding to the Solana (SOL) blockchain.

This strategic move is expected to push the price of Dogecoin (DOGE) up to $0.355, as the chart pattern formation indicates a bullish trend.

Check out the full analysis here!

Dogecoin (DOGE) integration into Solana (SOL)

Wormhole recently announced the integration of Dogecoin (DOGE) into the Solana (SOL) network through the Native Token Transfers (NTT) framework. With this technology, Dogecoin (DOGE) can operate as a native token on Solana (SOL).

NTT’s technology enables seamless interchain transfers while maintaining control over token supply and contract updates. The collaboration involves teams from Psy and RISC Zero that use zero-knowledge proofs to support secure and verified asset transfers between blockchains.

Wormhole states that this integration combines two major industry forces and they are proud to be the infrastructure provider that makes it happen.

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Dogecoin (DOGE) Price Analysis

According to crypto analysts, TraderTardigrade, the Dogecoin (DOGE) price chart shows a Cup and Handle pattern on the daily time frame, which is considered a bullish continuation pattern. The “cup” part of this pattern forms over several months, creating a rounded bottom, which often appears after a period of price consolidation.

After the “cup”, a smaller descending channel is formed, known as the “handle”. This segment shows a temporary price drop before a breakout occurs. This relatively shallow “handle” indicates stronger buyer interest and lower selling pressure.

Also read: Bitcoin (BTC) surpasses $110,000, what’s driving the price increase?

Dogecoin (DOGE) Open Interest and Trading Volume

Currently, Dogecoin (DOGE) is trading at $0.2418 with a market capitalization of $36.12 billion. In the last 24 hours, Dogecoin (DOGE) recorded a trading volume of $2.83 billion, an increase of more than 4%. This increase came despite the pending decision regarding the Dogecoin (DOGE) ETF from Grayscale Investments and 21Shares.

In addition, derivatives market activity also showed increased interest in Dogecoin (DOGE). Options volume increased by more than 130% to $349.57 million. Open interest in Dogecoin (DOGE) futures stood at $2.97 billion, up more than 11%. This growth suggests that more traders are positioning themselves for possible price movements.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Coingape. Dogecoin Expands to Solana as DOGE Price Eyes Breakout to $0.355. Accessed on May 23, 2025
• Featured Image: Generated by AI