Cryptocurrencies Price Prediction: Dogecoin, Ethereum & Crypto – European Wrap 19 March

FXStreet Team FXStreet

Dogecoin on-chain metrics signal a potential turning point once the crypto market stabilizes

Dogecoin (DOGE) price hovers around $0.168 on Wednesday after bouncing off its 200-week Exponential Moving Average (EMA) last week. Santiment’s data shows that DOGE’s utility and whale wallets are rising, hinting at a potential rally for the dog-themed memecoin.

Ethereum gives way

The crypto market remains in a downtrend. Its cap rose 0.2% over the past 24 hours to $2.72 trillion and generally remains in a very tight range with a short-term ceiling of $2.75 trillion. Just over a month ago, similar local resistance was half a trillion higher.

Nigeria turns to crypto as inflation surges and economy struggles

Nigeria’s economy is facing a severe crisis, with rising inflation and a weakened currency creating hardships for millions of citizens. As traditional financial systems struggle, many Nigerians have turned to cryptocurrency as a hedge against economic instability. Digital assets have provided an alternative for preserving value, particularly as the country’s local currency continues to decline.

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Dogecoin ticks lower as low Open Interest, funding rate weigh on buyers

Dogecoin extends its decline as risk-off sentiment dominates across the crypto market. DOGE’s derivatives market remains weak amid suppressed futures Open Interest and perpetual funding rate.

Crypto Today: Bitcoin, Ethereum, XRP decline as risk-off sentiment escalates

Bitcoin remains under pressure, trading above the $87,000 support at the time of writing on Tuesday. Selling pressure has continued to weigh on the broader cryptocurrency market since Monday, triggering declines across altcoins, including Ethereum and Ripple.