Are DOGE and SHIB Memecoins Poised for Massive Bullish Rally? Experts Signal Positive Momentum

The two biggest memecoins on the market Dogecoin (DOGE) and Shiba Inu (SHIB) Ready for a Massive Bullish Rally? Cryptocurrency experts have recently signaled a positive moment for cryptocurrencies.

DOGE has been on an impressive run this month. In its monthly development, the meme coin XRP has seen a price increase of 172.9%. analyze Given the recent price action of the largest memecoin, analyst known as “Basictradingtv” on TradingView highlighted that Dogecoin is still in its early bullish stages. According to the expert, a conservative approach would indicate an impressive 9,000% bullish rally.

Source: TradingView/Basictradingtv

At the time of publication, the price of Dogecoin was quoted at US$0,3806, down 7.4% in the last 24 hours.

It is worth remembering that Raoul Pal, CEO of Real Vision and former Goldman Sachs executive, highlighted Recently, Dogecoin (DOGE) has been performing remarkably well against Bitcoin (BTC). In a post on X (formerly Twitter), Pal noted that DOGE has outperformed BTC by 550% since its launch a decade ago, suggesting that this outperformance trend could continue.

What's next for Shiba Inu?

Market expert known as “MadWhale” on TradingView highlighted that more gains are coming for the Shiba Inu memecoin.

“As noted, a substantial influx of trading volume has entered the market for this asset, further bolstered by the strong support from one of the largest media platforms and communities within the global cryptocurrency space, which increases its market influence and visibility.”

According to analysis , even with the current bullish momentum, there is still a possibility of a price pullback of the SHIB meme towards the next lower Fibonacci support level. “However, after this potential drop, we anticipate a recovery and renewed upward movement, leading to a rebound and subsequent price increase.”

“Our team’s main view is that a strong influx of trading volume, backed by strong media support, suggests potential short-term pullbacks to lower Fibonacci levels, followed by a recovery and further price growth,” the analyst added.

As projected on the chart, the analyst estimates a bullish breakout for Shiba Inu towards $0.00003394. At the time of publication, the price of Shiba Inu was quoted at $0,00002408 with a 4.1% drop in the last 24 hours.