The post Dogecoin (DOGE) and Shiba Inu (SHIB) On The Brink Of A Bull Rally appeared first on Coinpedia Fintech News
Popular cryptocurrency analyst, Kaleo, is predicting a significant surge for Dogecoin (DOGE) and Shiba Inu (SHIB). The pseudonymous trader believes that both meme coins have the potential to grow further and recommends taking a long-term view of the crypto market.
DOGE’s Potential Breakout and SHIB’s Rally
Kaleo points out that DOGE is on the brink of breaking its diagonal resistance on the high timeframe at $0.10. Once this occurs, he believes that $0.25 is an attainable target for DOGE. At press time, the Dogecoin price is at $0.097, experiencing a slight drop of 1.2% on the day.
In addition, Kaleo is closely monitoring SHIB and suggests that it could rally alongside DOGE. According to him, SHIB’s rally may commence once it breaks its diagonal resistance at around $0.0000115. The meme token is worth $0.00001130 at the time this article was written. Kaleo contends that a breakout for SHIB could propel the coin to make gains of 50% to 100%.
Recent Developments In The MemeCoins
DOGE has recently gained adoption from major payment gateway Coinbase, increasing its exposure and legitimacy in the crypto market. Additionally, the DOGE community went into a frenzy of anticipation when Burger King UK hinted at a potential adoption of the coin in a tweet.
Meanwhile, Shiba Inu has been focused on developing a decentralized exchange (DEX) called ShibaSwap, which enables SHIB holders to trade their tokens for other cryptocurrencies and offers liquidity to the SHIB ecosystem. Although it initially excited fans and investors, optimism for the platform was short-lived due to a chain ID confusion, it was later clarified as an accident.