- Dogecoin and Shiba Inu surge over 9% amid improving market conditions and investor interest.
- Analyst predicts that Dogecoin could rally to $0.74 if it closes above $0.20 this month.
- Shiba Inu’s breakout signals potential for a 124% rise, targeting $0.00003 by May 2025.
The market is showing a renewed interest in meme coins, especially for Dogecoin (DOGE) and Shiba Inu (SHIB). The cryptocurrency market has shown a notable increase in performance, with both coins rising in value by more than 9% during the previous week. As market conditions improve and garner investor interest, analysts highlight meme coins as potential investment opportunities for future earnings in the upcoming weeks.
According to analyst Ali Martinez, he predicted that if DOGE closes the month above $0.20, it would trigger a breakout towards a potential target of $0.74. The $0.20 price level serves as a base indicator for bullish control, attracting future market participants. The market will likely experience upward traction if there is a solid price rise breaking through $0.20.
As of press time, Dogecoin is trading at $0.1790, showing a 0.8% decrease from the previous day. The cryptocurrency experienced a notable 9.47% value increase over the past week, as short-term market momentum remained positive. Dogecoin shows substantial trading activity through its current daily market volume of $1.16 billion.
SHIB Breaks Early ‘Price Barriers’
Meanwhile, Shiba Inu is also gaining attention due to its strong technical indicators. Analysts predict that SHIB could experience a surge of up to 124% by May 2025, targeting a price of $0.00003. This optimistic forecast is based on technical developments and the growing strength of SHIB’s ecosystem, which has drawn interest in recent weeks.
According to Charting Guy’s analysis, he pointed out that Shiba Inu broke through two key descending trendlines, previously marked as ‘price barrier’ in 2024 and early 2025. This new wave suggests that the market is likely to initiate a new cycle for SHIB, thereby increasing the likelihood of the token’s price.
Overall, a positive sentiment is emerging across the crypto market. The Fear & Greed index is currently at 66, which means “Greed,” indicating a psychological shift among investors. The resulting low political and economic risks associated with this shift offer a favorable environment for meme coins like DOGE and SHIB to thrive.
Related: Beyond the Bark: Charting Dogecoin’s Path Through Support & Resistance
As meme coins continue to gain market momentum, improving conditions could pave the way for growth. The next couple of weeks indicate increased opportunities for both DOGE and SHIB, as traders and investors await potential breakthroughs for achieving new price peaks.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
