Meme coin veterans Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) are gaining momentum on Thursday, fueled by Bitcoin (CRYPTO: BTC) surging above the $96,000 level.
Trader Notes: Crypto trader BitGuru highlighted Shiba Inu's bullish momentum after breaking through resistance at $0.00002238, signaling a clear upward trend.
He noted that the recent pullback near $0.00002266 appears temporary, as buyers continue to dominate.
The trader forecasts a surge toward $0.00002280 or higher, with the setup aligning for a sustained breakout.
Trader Tardigrade highlighted Dogecoin breaking from a descending triangle, which could prompt an explosive surge.
Notable Statistics: According to Shibburn data, Shiba Inu’s burn rate increased by 105.3%, with a notable transaction burning 1 million coins about 21 hours ago.
Despite the gains, market dynamics reflect mixed signals.
IntoTheBlock data shows a decrease of 23.8% in Shiba Inu's large transaction volume.
Transactions greater than $100,000 are down from 126 to 105 in a single day.
Around 43% SHIB holders are currently underwater, while 53% are in profit.
Shibariumscan data shows daily transactions increasing from 4.77 million to 4.78 million in a single day.
Coinglass data shows Dogecoin's open interest climbing by 11.3% to $2.2 billion, while derivatives data volume is up 47.2% to $4.4 billion.
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