Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO:SHIB) are gaining ground, with both cryptos seeing a sharp rise Tuesday morning.
| Cryptocurrency | Prix | Market capitalization | Evolution over 24 hours | Evolution over 7 days |
| Dogecoin (CRYPTO: DOGE) | 0,3475 $ | $51.3 billion | +9,7% | -10,1% |
| Shiba Inu (CRYPTO: SHIB) | 0,00002133 $ | $12.6 billion | +6% | -10,1% |
| Pepe (CRYPTO: PEPE) | 0,00001721 $ | $7.2 billion | +6,6% | -15,4% |
Trader’s Notes: Cryptocurrency trader Kevin pointed out that Dogecoin maintained strong price momentum as long as it held above $0.26, in its bullish downtrend channel.
He noted that a breakout could target a potential move towards $1.30, although reaching that level would require substantial progress.
Other traders, like Altcoin Sherpa and Scofield, shared a measured optimistic view.
Sherpa believes that DOGE has good potential, while Scofield emphasized that patience will pay off for Dogecoin holders.
Shiba Inu’s Relative Strength Index (RSI) sits at 50, indicating neutral market sentiment.
Benzinga’s technical analysis noted potential volatility based on simple moving averages (SMA).
The 200-day SMA has recently crossed above and below the 50-day and 100-day SMAs, signaling market indecision. Observing transaction volumes during these crossovers can provide additional information:
- High Volume: Indicates strong conviction in the price direction.
- Low volume: suggests weak tracking.
Statistics: According to Shibburn, Shiba Inu’s burnout rate increased by 2,229.01% in the last 24 hours, due to the destruction of 21.07 million tokens, including a single transaction involving 18.97 million tokens. .
Data from IntoTheBlock shows that Shiba Inu’s large transaction volume increased by 505.91% in a single day, with transactions over $100,000 increasing from 59 to 188.
Community News: In a recent post on X (formerly Twitter), Elon Musk expressed appreciation for Donald Trump and the US government’s support for Dogecoin, which may have contributed to the DOGE price surge.
Musk’s comments, coupled with Bitcoin’s bullish momentum, may have sparked investor enthusiasm.
Shiba Inu announced the launch of WHY Combinator, a decentralized program to foster meme cryptocurrency projects.
This initiative aims to improve the application of Shiba Inu technologies and reinforce the importance of the BONE token within the network.
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