The market is showing renewed interest in meme coins, particularly Dogecoin (DOGE) and Shiba Inu (SHIB). The cryptocurrency market has shown a significant increase in performance, with both coins rising in value by more than 9% last week. As market conditions improve and attract investor interest, analysts emphasize meme coins as a potential investment opportunity for future income in the coming weeks.
According to analyst Ali Martinez, he predicts that if DOGE closes the month above $0.20, it will trigger a breakout towards a potential target of $0.74. The $0.20 level serves as a baseline indicator to monitor bullish momentum, attracting future market participants. The market is likely to experience upward momentum if there is a solid price increase beyond $0.20.
As of the time of this report, Dogecoin is trading at $0.1790, down 0.8% from the previous day. This cryptocurrency has significantly increased in value by 9.47% over the past week, as short-term market momentum remains positive. Dogecoin shows significant trading activity with a current daily market volume of $1.16 billion.
SHIB Breaks Initial 'Price Barrier'
Meanwhile, Shiba Inu is also attracting attention due to its strong technical indicators. Analysts predict that SHIB could soar by up to 124% by May 2025, targeting a price of $0.00003. This optimistic forecast is based on technical developments and the increasing strength of the SHIB ecosystem, which has garnered interest in recent weeks.
According to Charting Guy's analysis, he points out that Shiba Inu has broken through two major downtrend lines, previously marked as 'price barriers' in 2024 and early 2025. This new wave indicates that the market is likely to begin a new cycle for SHIB, thus increasing the potential price of this token.
Overall, a positive sentiment is emerging across the cryptocurrency market. The Fear & Greed Index is currently at 66, indicating "Greed," showing a shift in sentiment among investors. Low political and economic risks associated with this shift create a favorable environment for meme coins like DOGE and SHIB to thrive.
As meme coins continue to gain momentum in the market, improving conditions may pave the way for growth. The coming weeks show increasing opportunities for both DOGE and SHIB, as traders and investors await potential breakthroughs to reach new peak prices.