Crypto expert Ali says Dogecoin may surge 6770% if it remains in the rising parallel channel pattern.

Crypto analyst Ali took to X to express a positive analysis on Dec. 30, noting that the 6780% rally is likely in the cards if Dogecoin doge-2.54%Dogecoin stays in the ongoing ascending parallel channel pattern. While there is excitement about the future of DOGE, looking at the price action and technical indicators offers a more grounded overview of where cryptocurrency currently stands.

DOGE trades at $0.3215 after peaking at over $0.50 earlier this year and consolidating lower. Price seems to trade in a range with $0.30 being an important support and $0.35 to $0.40 being an important resistance. Those levels correspond with historical Fair Value Gaps (FVG), areas of unfilled liquidity, and future potential retracement zones.

The price was recently rejected near the $0.45 resistance zone, suggesting selling pressure at higher levels. The consolidation in the range of $0.30 to $0.32 indicates that DOGE is trying to find a bottom, but numerous FVGs below $0.30 might open up to lower targets if bears continue to hold the market down.

Moving Average Convergence Divergence shows a bearish crossover, with the MACD trending below the signal line. This suggests that the upward momentum for bears has been on the rise, especially after the decline from Nov. highs. There will be longer red bars in the histogram, which indicates the increased selling pressure as DOGE fails to tighten up above higher levels.

DOGE is in a consolidation phase, with $0.30 to $0.32 being the buy zone and $0.35 to $0.40 being key resistances. Bearish momentum remains according to technical indicators, such as MACD and open interest. However, downside risk is presented by the large liquidity gap currently below. To regain bullish momentum and continue its upward trajectory, DOGE must reclaim those key resistance zones and its bullish momentum.

Former German Finance Minister Christian Lindner has advocated for including cryptocurrencies like Bitcoin in the European Central Bank and Bundesbank reserves to strengthen financial resilience and keep pace with global trends.

According to the German media outlet Handelsblatt, Lindner pointed to the United States, where the incoming Donald Trump-led administration is looking to adopt a progressive approach towards crypto-assets, including discussions about incorporating Bitcoin into the Federal Reserve’s reserves alongside traditional assets like gold.

Lindner highlighted that cryptocurrencies now make up a significant share of global wealth growth and warned that Germany and Europe risk falling behind if they don’t take similar steps.

He believes adding Bitcoin to the country’s reserves could help fortify the financial stability of central bank holdings—an idea recently floated by many political figures around the globe.

Lindner, who leads the Free Democratic Party, made his remarks ahead of the German parliamentary elections in February. The FDP has long been lobbying for crypto adoption, with its latest election manifesto stressing the importance of digital assets.

At the time, the government ignored calls from German MP and Bitcoin advocate Joana Cotar, who instead pitched the idea of adopting BTC as a strategic reserve currency to protect against potential risks in the traditional financial system.

Cotar also spearheaded the “Bitcoin Strategies for Nation States” event, featuring Samson Mow, CEO of Bitcoin technology firm Jan3. The event brought together Members of Parliament and Bitcoin supporters to discuss the bellwether crypto asset’s potential as a financial tool for the country.

Yet, despite these efforts and growing advocacy, the current government has largely remained quiet on the matter.

Lindner highlighted that cryptocurrencies now make up a significant share of global wealth growth and warned that Germany and Europe risk falling behind if they don’t take similar steps.

He believes adding Bitcoin to the country’s reserves could help fortify the financial stability of central bank holdings—an idea recently floated by many political figures around the globe.

On the contrary, Germany’s approach to cryptocurrencies has been notably cautious and has faced criticism from industry stakeholders for its reluctance to fully embrace digital assets.

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Earlier this year, the German government sold around 50,000 BTC seized from the piracy movie site Movie2k.to, following which authorities transferred and sold the funds over a span of nearly four weeks, from mid-June to early July.

Yet, despite these efforts and growing advocacy, the current government has largely remained quiet on the matter.

Skepticism over bitcoin reserve plans

Policymakers in Germany aren’t the only ones reluctant to embrace Bitcoin as a reserve asset. Japan’s government recently dismissed calls to adopt Bitcoin as part of its foreign exchange reserves, citing concerns over volatility and a limited understanding of global adoption trends.

South Korea is also taking a similar approach, as hinted by Chairman of the Financial Services Commission, Kim Byung-hwan, who said the nation will monitor developments in the U.S. to assess how the adoption of Bitcoin as a reserve asset unfolds before making any definitive policy decisions.

However, some believe the U.S. might not follow through with its Bitcoin reserve plans even though a bill introduced by Senator Cynthia Lummis proposes that the government acquire approximately 5% of the total Bitcoin supply over a set period.

According to CryptoQuant analyst Ki Young Ju, it is unlikely that Bitcoin will be adopted as a reserve asset unless its global economic dominance is genuinely threatened.

With the dollar maintaining its status as the world’s primary reserve currency and U.S. economic strength remaining largely unchallenged, Young Ju believes there’s little incentive for policymakers to pivot toward Bitcoin.

Meanwhile, odds of whether the U.S. will approve a Strategic Bitcoin Reserve within Trump’s first 100 days have dropped to 29% on prediction platform Polymarket.

The Solana-based SEND Arcade has released the second season of its on-chain Squid Game inspired Squad Game. Players can mint entry passes on Magic Eden starting from Dec. 30.

According to the official X post, SEND Send send-2.83%Send Arcade has provided a total of 456 Squad Game Season 2 entry passes that users can mint on Magic Eden, starting from Dec. 30. Each entry pass is valued at 0.69 SOL, which is equal to $133,177 based on current prices.

The first phase is only open for whitelisted wallets, which are wallets that hold more than 50,000 SEND as of the teaser announcement. The Whitelist phase opens at 13:11 UTC until 16:11 UTC. Each wallet is limited to minting only two passes.

Meanwhile the second phase is made public, so all wallets are eligible. The public phase starts at 16:20 UTC. At the time of writing, around 48 out of 100 Squad Game passes have been minted according to the SEND Arcade site.