Despite Silver Linings, Dogecoin and Shiba Inu Struggle to Match Bitcoin’s Rally.
While Bitcoin has seen double-digit gains in the last 24 hours, meme coins Dogecoin and Shiba Inu have only experienced conservative gains, with DOGE seeing a 4.4% increase and SHIB with just 4.3%. Both coins are still recording losses on the weekly chart, whereas Bitcoin has risen over 9%. However, this could be a good thing for the digital assets, as altcoins typically play catch-up to Bitcoin after it has found a comfortable level and settled. Historically, such catch-up rallies have seen digital assets record rallies of no less than 10%, possibly allowing DOGE to clear the $0.08 resistance and SHIB to reclaim the 14th spot on the list of largest cryptocurrencies. At the time of writing, DOGE is changing hands at $0.072, with a 1.21% decrease in trading volume bringing it to $482m. SHIB is trending at $0.00001105, while its trading volume is up 10% in the last day to $372.4m.
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