Dogecoin (DOGE) has risen 15% in the past 24 hours, with the current price trading at $0.087. DOGE prices have climbed 23% in a week and 36% in a month. The bullish momentum could push prices above $0.1.
Meanwhile, Shiba Inu (SHIB) is trading at $0.0000160, up 3% in one day. SHIB has gained more than 30% in a week and 47% in a month. The bullish rally could likely push prices above $0.000018.
Dogecoin and Shiba Inu near key resistance levels
Experts believe Dogecoin and Shiba Inu could touch pre-crisis prices if the resulting rally continues. Retail and whale investor interest in the DOGE and SHIB meme currencies has been on display as the Crypto Fear & Greed Index has risen to 45, indicating positive sentiments on the crypto market.
The rally was also supported by huge trading volumes, pushing the prices of Dogecoin and Shiba Inu to a 4-month high of $0.088 and $0.0000177, respectively.
Crypto expert Lark Davis believes that the main catalysts for the two meme currencies are the launch of Dogechain and the upcoming Layer 2 solution Shibarium.
Both top dog coins have major catalysts right now! #dogecoin #shibainu $shib $doge
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 Crypto analyst Tony, the first target is “range high” at $0.95. However, the strong momentum is likely to push the Dogecoin (DOGE) price above $0.1, expect some resistance in between.
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
The first target is the top of the range on DOGE. Due to the shear force, we could break through, but I expect at least some resistance.
Currently, the price of DOGE is facing resistance at $0.088. If the price manages to break through the resistance level, a massive rally will push Dogecoin to $0.1.
While Shiba Inu (SHIB) is experiencing a rally mainly due to whale accumulation. According to Santiment on-chain data, the number of Shiba Inu whale transactions reached a 4-month high and SHIB’s price surpassed $0.000017 for the first time since May 10.
Shiba Inu has been on the move this weekend, rising +34% in the last 24 hours while the crypto has remained fairly flat. It’s no coincidence that the whales have been very active on SHIB. There were 433 trades worth over $100,000, the most in 4 months.
Currently, the price of SHIB is facing resistance at $0.000018. If the price breaks above this resistance level, a massive rally will push Shiba Inu to the next key resistance level at $0.00002.
