{"id":30803,"date":"2024-04-01T00:38:21","date_gmt":"2024-04-01T00:38:21","guid":{"rendered":"http:\/\/icoinmarket.com\/are-dogecoin-doge-and-shiba-inu-shib-poised-for-further-gains-popular-analyst-chips-in\/"},"modified":"2024-04-01T00:38:21","modified_gmt":"2024-04-01T00:38:21","slug":"are-dogecoin-doge-and-shiba-inu-shib-poised-for-further-gains-popular-analyst-chips-in","status":"publish","type":"post","link":"https:\/\/icoinmarket.com\/are-dogecoin-doge-and-shiba-inu-shib-poised-for-further-gains-popular-analyst-chips-in\/","title":{"rendered":"Are Dogecoin (DOGE) and Shiba Inu (SHIB) Poised for Further Gains? Popular Analyst Chips in"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>TL;DR<\/p>\n<p>Dogecoin (DOGE) and Shiba Inu (SHIB) have experienced significant price increases of 30% and 10%, respectively, with analysts predicting further growth.<br \/>\nKey factors possibly contributing to Shiba Inu\u2019s future rally are the token burn rate and advancements related to the L2 scaling solution Shibarium.<\/p>\n<p><span data-preserver-spaces=\"true\"><\/span><\/p>\n<p>The cryptocurrency sector has rebounded in the past week, with two of the best-performing assets being Dogecoin (DOGE) and Shiba Inu (SHIB). The largest meme coins by market capitalization are up 30% and 10% on a 7-day scale, respectively.<\/p>\n<p><span data-preserver-spaces=\"true\">According to some analysts the upswing is nowhere near its end and might lead to new peaks in the near future. Such a bullish statement was presented by the popular X user Rekt Capital.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The trader\u00a0<\/span><span data-preserver-spaces=\"true\">suggested<\/span><span data-preserver-spaces=\"true\">\u00a0that DOGE has ended its \u201cmacro downtrend\u201d and begun a new \u201cmacro uptrend.\u201d Rekt Capital believes closing above the $0.20 at the end of March might fuel a rally towards the $0.30 mark (a valuation unseen since October 2021).<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Dogecoin\u2019s price surge coincided with the increase of some important metrics related to its ecosystem. As CryptoPotato\u00a0<\/span><span data-preserver-spaces=\"true\">reported<\/span><span data-preserver-spaces=\"true\">, aggregated daily volume (where each transaction is larger than $100K) jumped by nearly 100%, whereas daily active addresses spiked by 13%.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">According to IntoTheBlock, nearly 90% of all DOGE holders are currently sitting on paper profits. The trends were much different in September last year when almost 60% of Dogecoin investors\u00a0<\/span><span data-preserver-spaces=\"true\">were underwater<\/span><span data-preserver-spaces=\"true\">.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The analyst touched upon SHIB, too,\u00a0<\/span><span data-preserver-spaces=\"true\">predicting<\/span><span data-preserver-spaces=\"true\">\u00a0a rise to almost a new all-time high should the asset\u2019s price surpass the major resistance level of $0.000033285. \u201cRetest was successful. SHIB history is repeating itself,\u201d Rekt Capital argued.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The meme coin\u2019s rally is in tune with the increase of its burning mechanism. Yesterday (March 28), the SHIB burn rate <\/span><span data-preserver-spaces=\"true\">exploded<\/span><span data-preserver-spaces=\"true\">\u00a0by 1,200%, resulting in over 51 million tokens destroyed.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Another factor that could fuel a Shiba Inu uptrend is the further advancement of the layer-2 blockchain solution Shibarium. Earlier this month, total transactions on the network surpassed the 400 million mark. Those willing to learn more about the feature and how it can foster the development of the meme coin, feel free to watch our dedicated video below:<\/span><\/p>\n<\/p>\n<div class=\"code-block code-block-12\" style=\"margin: 8px 0; clear: both;\">\n<div><span style=\"font-size:11px; color: gray;\">SPECIAL OFFER (Sponsored)<\/span><br \/>\nLIMITED OFFER 2024 for CryptoPotato readers at Bybit: Use this link to register and open a $500 BTC-USDT position on Bybit Exchange for free!<\/div>\n<\/div><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/cryptopotato.com\/are-dogecoin-doge-and-shiba-inu-shib-poised-for-further-gains-popular-analyst-chips-in\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR Dogecoin (DOGE) and Shiba Inu (SHIB) have experienced significant price increases of 30% and&#8230;<\/p>\n","protected":false},"author":1,"featured_media":30804,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Are Dogecoin (DOGE) and Shiba Inu (SHIB) Poised for Further Gains? 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