On the other hand, Shiba Inu (SHIB) continues to thrive as a coin with strong community support. While DOGE leads in utility advancements, SHIB leverages its ecosystem to stay relevant. SHIB is known for its robust tokenomics and ecosystem, including ShibaSwap. Users can stake, earn rewards, and participate in decentralized exchanges. Its performance reflects the growing appeal of the meme sector, as SHIB attracts new investors with its affordability and aggressive marketing. The coin’s consistent gains demonstrate its resilience in the competitive crypto market.
In the same way, Bonk (BONK) is a rising coin that is making major waves. Over the past 24 hours, Bonk has seen a volume increase of over 10%, indicating growing demand among traders. BONK price trends indicate bullish potential in the crypto sector.
Dogecoin (DOGE) Technical Analysis
Dogecoin Daily Chart – Breakout from the Cup Formation
The daily chart of Dogecoin shows that the price has broken out of a cup pattern. This breakout positioned the price for an upward move. The strong rally in November pushed the price into the overbought zone. This price surge increases the likelihood of a price correction.
At the time of the breakout above the cup pattern, the 50-day SMA exceeded the 200-day SMA. This golden cross indicates an uptrend and indicates bullish potential for Dogecoin. A price correction to the $0.22 level could present a compelling buy signal for long-term investors.