SHIB Flow Frenzy 🐕 – DOGE Leads 10% Memecoin Rally
Dogecoin shot up about 9%, smashing past barrier with more than a billion tokens exchanged. After an early breakout, support went back to $0.242. Later in the session, flows pushed DOGE into the $0.254 zone before it settled down.
Traders said that SHIB's 6% rise, which was supported by record trillion-token turnover and exchange balances at two-year lows, was further proof that institutions are buying up meme-coins.
During the same time, SHIB rose 6.2%, while exchange reserves fell to their lowest levels in years. This shows that there is less supply available as meme-coins get more bids.
DOGE moved in a $0.02 range, which is 10% volatile.
Breakout pushed the price up from $0.234 to $0.242 on 1.03 billion tokens, which is four times the norm.
During the day, prices rose to $0.249 and $0.253 until sellers stopped at $0.254.
In the last hour, DOGE went up from $0.248 to $0.254 in two 40M+ surges, settling at $0.252.
Analysis of the technicals
After the breakthrough, support moved to $0.242 and resistance became stronger around $0.254–$0.255. The session formed an ascending triangle, which was confirmed by higher lows and steady turnover.
Technical desks saw Golden Cross signals across key markets, which added to the bullish trend. Analysts said that a clear break over $0.255 will lead to $0.32, with ETF-driven flows being the reason for this.
What are traders looking at?
If DOGE can turn $0.25 into strong support and go into $0.32.
If speculation about ETFs keeps supporting both DOGE and SHIB until the end of October.
SHIB's exchange supply crunch, which is at its lowest point in two years, might help meme coins move about.
The CD20 index reacted after both DOGE (+10%) and SHIB (+7%) made big jumps on high volume.
