Dogecoin Up 3%, Shiba Inu Up 4%: What Is Going On?

Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) are trading around 3% higher in a single day boosted by the optimism in the cryptocurrency market.

Cryptocurrency	Price	Market Cap	24-Hour Trend	7-Day Trend
Dogecoin	$0.3923	$57.6 Billion	+2.8%	+5.3%
Shiba Inu	$0.00002496	$14.7 Billion	+4.2%	+3.1%

Trader Notes: Analysts see bullish potential for the top two meme coins.

Crypto chart analyst Ali Martinez predicts a potential rally for Shiba Inu, suggesting SHIB could hit $0.00049 if it mirrors DOGE’s pattern.

#ShibaInu $SHIB looks like #Dogecoin $DOGE! If true, $0.00049 next! pic.twitter.com/MsNYhh3bNi

— Ali (@ali_charts) November 21, 2024

Trader Javon Marks highlights SHIB’s daily chart with a possible bull pattern confirmation. A breakout target of $0.000081—216% above current levels—could see SHIB surge more than 200%.

For Dogecoin, Altcoin Sherpa notes the recent correction as not bearish, seeing opportunities for buyers with another leg up expected soon.

Crypto Amsterdam observes DOGE hovering in a mid-range phase, suggesting $1 could be on the horizon.

Meanwhile, trader Kevin forecasts a DOGE breakout by Saturday.

Breakout for #Dogecoin by Saturday the latest pic.twitter.com/ekSBkZ8UAt

— Kevin (@Kev_Capital_TA) November 22, 2024

Statistics:  IntoTheBlock Data shows:

• Large transaction volume increasing for DOGE (+41.1%) and SHIB (+44.9%).





• Daily active addresses rising by 34.9% for DOGE and 10.7% for SHIB.





• SHIB transactions above $100,000 up from 332 to 399 in one day.

Shibarium Activity: Daily transactions climbed from 4.66 million on Nov. 20 to 4.75 million on Nov. 21.

Read Next: 

• ‘Dogecoin Millionaire’ Shares $50 Million Meme Coin Strategy For 2025: Pepe, Brett Are This Bull Run’s DOGE, Shiba Inu

Image: Shutterstock

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