• Dogecoin Up 3%, Shiba Inu Up 4%: What Is Going On?

    Source: Buzz FX / 22 Nov 2024 07:21:14   America/New_York


    Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) are trading around 3% higher in a single day boosted by the optimism in the cryptocurrency market.





    CryptocurrencyPrice             Market Cap24-Hour Trend7-Day Trend
    Dogecoin  $0.3923$57.6 Billion +2.8% +5.3%
    Shiba Inu  $0.00002496$14.7 Billion +4.2% +3.1%




    Trader Notes: Analysts see bullish potential for the top two meme coins.





    Crypto chart analyst Ali Martinez predicts a potential rally for Shiba Inu, suggesting SHIB could hit $0.00049 if it mirrors DOGE’s pattern.











    Trader Javon Marks highlights SHIB’s daily chart with a possible bull pattern confirmation. A breakout target of $0.000081—216% above current levels—could see SHIB surge more than 200%.





    For Dogecoin, Altcoin Sherpa notes the recent correction as not bearish, seeing opportunities for buyers with another leg up expected soon.





    Crypto Amsterdam observes DOGE hovering in a mid-range phase, suggesting $1 could be on the horizon.





    Meanwhile, trader Kevin forecasts a DOGE breakout by Saturday.











    Statistics:  IntoTheBlock Data shows:






    • Large transaction volume increasing for DOGE (+41.1%) and SHIB (+44.9%).




    • Daily active addresses rising by 34.9% for DOGE and 10.7% for SHIB.




    • SHIB transactions above $100,000 up from 332 to 399 in one day.





    Shibarium Activity: Daily transactions climbed from 4.66 million on Nov. 20 to 4.75 million on Nov. 21.





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    Image: Shutterstock


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