Could It Be the Right Time to Add SHIB and DOGE as Prices Take a Dip?
Investor interest in meme coins has dwindled due to limited volatility and social prominence, but leading meme coins such as Dogecoin and Shiba Inu may be poised for resurgence. Recent whale activity suggests the possibility of a bull run in the coming week. A huge transfer of Dogecoin, amounting to 350 million DOGE or $26.6 million, took place between unknown wallets, indicating a possible buy order. Dogecoin is currently trading at $0.074, facing selling pressure near the resistance level of $0.076 but could break out if bulls continue their buying pressure. Similarly, Shiba Inu’s price stabilized after an alleged clone scandal but could ignite fresh surges as the number of wallet addresses entering the Shibarium beta protocol surpasses 100,000. Shiba Inu is currently trading at $0.0000106 and is facing a hurdle in surpassing the resistance of $0.000011. If it manages to break above the EMA-100 trend line, it may initiate a smooth rally to $0.0000122. Investors are now considering whether it is an opportune moment to shift their focus to meme coins or if a more bearish trend may still lie ahead.