SHIB, DOGE Stumble Upon Hefty Resistance After Double-Digit Run
- The top dog coin duo SHIB DOGE picked up on the Bitcoin ETF rally.
- Shiba Inu Dogecoin see sustainable growth with $2B added to the market cap.
- Despite several bullish on-chain signals , two main factors point to recline.
While green dominates the top alternative crypto markets this week, memecoins Shiba Inu (SHIB) and Dogecoin (DOGE) stand out with double-digit gains after a long price consolidation phase.
Shiba Inu saw an 8.98% upsurge to reach $0.00000809 on Thursday but got rejected at the confluent resistance barrier and now trades at $0.00000787, according to independent cryptocurrency price aggregator CoinGecko.
To jump past the $0.000008 resistance again, SHIB needs to hold above the previous resistance at $0.0000072, even though two key on-chain factors, Chaikin Money Flow (CMF) and Relative Strength Index (RSI), are gradually descending since the highest point.
The leading Proof of Work blockchain Dogecoin (DOGE) also joined Bitcoin’s ETF-infused rally, fetching double-digit gains. DOGE inked 13.24% to change hands at $0.074775 at the pinnacle point of the day, later facing market correction to trade at $0.070972.
SHIB DOGE Whales on the Move Again?
Naturally, the surge past 7 cents for Dogecoin added a whopping $1.5 billion to the original memecoin’s global market cap in just seven days, while Shiba Inu enjoyed a $0.6 billion inflow during the same time. In contrast to Shiba Inu whales, large DOGE holders refrained from making too many large transactions during the BTC-infused bull run.
This happened as both canine coins significantly upped their correlation with Bitcoin. SHIB and DOGE hold a 0.68 and 0.80 positive correlation with the leading digital asset, according to the blockchain analytics enterprise IntoTheBlock.
Delving deeper into the real-time on-chain metrics, Shiba Inu’s large transactions have increased by 1.69% in the last 24 hours while concentration remains neutral. Usually, this technical setup hints at a favorable entry point for new whales, putting Shiba Inu once again on the pedestal at WhaleTracker as the top-held cryptocurrency among the largest Ethereum whales.
On the Flipside
- The most recent SHIB and DOGE bull runs are overshadowed by smaller-cap memecoin performance.
- Rival Viking canine coin FLOKI soared by 118% during the same time frame, while $PEPE inked 93.3% .
Why This Matters
Shiba Inu and Dogecoin are considered the largest market-cap memecoins, which often shine in the limelight of crypto-related social media.
Dig into DailyCoin’s latest crypto news:
BAYC Copycat Fined $1.6M In Yuga’s Trademark Infringement Case
CZ’s Crypto Fortune Shaken as Trading Slump Wipes $11.9B
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
EU tells Spain to raise defense spending to 3% as Trump pressures NATO
Share link:In this post: The European Union is pushing its members, including Spain, to increase defense spending. European defense commissioner Andrius Kubilius urges Spain to spend 3% of their GDP on defense. Trump wants NATO allies to step up and contribute as much as 5% of their GDP to defense expenditures.
Warren Buffett to step down as Berkshire Hathaway CEO by year’s end, leaving Greg Abel in charge
Share link:In this post: Warren Buffett will step down as Berkshire Hathaway CEO by the end of 2025 and Greg Abel will take over. He said he will keep all his shares and stay involved, but Abel will make the final decisions. Warren also criticized President Trump’s trade policies, calling tariffs a global risk.
Berkshire shareholders reject all DEI and AI oversight proposals
Share link:In this post: Berkshire Hathaway’s shareholders recently turned down seven DEI and AI-related proposals. They claimed the proposals violated “the firm’s decentralized culture and were superfluous.” Corporate America’s shift from DEI initiatives accelerated during Trump’s second term in office.
Trump’s tariff shock has lowered consumer sentiment and GDP in Q1
Share link:In this post: The economy shrank in early 2025 despite strong hiring, due largely to a tariff-driven import surge. Business and consumer confidence have slumped sharply amid rising uncertainty and inflation fears. Financial markets are underperforming as trade tensions and unpredictable policies rattle investors and executives.
Trending news
MoreCrypto prices
More
