The rising interest is seen as Bitcoin (BTC) and Ethereum (ETH) rallies over psychological levels of $25k and $2k.
Dogecoin (DOGE) is up 15% in the last 24 hours, with the current price trading at $0.087, it rocketed 23% in a week and 36% in a month period. The upside momentum may likely push prices over 1 cent
Meanwhile, Shiba Inu (SHIB) price is trading at $0.0000160, up 3% in a 24 hours. SHIB has gained over 30% in a week and 47% in a 30 days. Th rally may likely reach prices over $$0.000018.
Experts believe Dogecoin (DOGE) and Shiba Inu (SHIB) might touch pre-crises prices if the the rally continues. Investors interest in meme coins DOGE and SHIB came as the Crypto Fear & Greed Index jumps to 45, indicating positive crypto market happenings.
The rally was also supported by really huge trading volumes, pushing the prices to a four month high of $0.088 and $0.0000177.
Lark Davis believes the major catalysts for both meme coins are the launch of Dogechain and the upcoming layer-2 solution Shibarium:
Dogecoin – the launch of #dogechain which requires wrapped DOGE for trading
Shiba Inu – the coming launch of their layer two Shibarium
Seems like every dog does have its day!
— Lark Davis (@TheCryptoLark) August 16, 2022
According to cryptocurrency top analyst Crypto Tony, the first target is “range high” at $0.95:
First target is the range high on DOGE. Due to the shear strength we may blast through, but i expect some resistance at least ..
Maybe i am just being a pussy who knows 🤪 pic.twitter.com/wcNtWEipM2
— Crypto Tony (@CryptoTony__) August 16, 2022
However, the strong momentum is likely to push the Dogecoin (DOGE) price over $0.1, expect some resistance in between.
The Bitcoin (BTC) price has skyrocketed over the $25000 level after lower-than-expected inflation data drove hopes of rate hike cuts by the Federal Reserve. Ethereum (ETH) price jumped over the $2k support level amid the upcoming Ethereum Merge in mid-September – bullish BTC and ETH price movements on this weekend support Dogecoin and Shiba Inu prices.
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