šš¶ Meme Coin Momentum: $DOGE & $SHIB Signal Bullish Breakout! šš„
The meme coin season is far from over! Both Dogecoin (DOGE) and Shiba Inu (SHIB) are showing strong signs of a potential bullish breakout, settling at crucial support levels and flashing positive on-chain indicators.
Here's why bulls are getting excited:
* Strong Support: Both DOGE and SHIB have retested and held key support levels, indicating a solid foundation for a rebound.
* Bullish Funding Rates: According to Coinglass, the OI-Weighted Funding Rate data shows that fewer traders are betting on a price drop for these meme coins. With positive metrics (DOGE: 0.0094%, SHIB: 0.0101%), longs are paying shorts ā a classic sign of bullish market sentiment!
* Historical Precedent: Past surges in funding rates for DOGE and SHIB have often been followed by price climbs, and the recent uptick suggests another upswing.
šÆ What's Next for DOGE?
Dogecoin has found consistent support around its 200-day EMA at $0.21 and is currently trading above $0.23. If this level holds, DOGE could see a 20% gain, aiming to retest the 50% price retracement mark at $0.27!
šÆ What's Next for SHIB?
Shiba Inu has successfully retested its 50-day EMA at $0.000013 and is holding above it, currently trading around $0.000014. This crucial level, near its previously broken descending trendline, could fuel a 30% rally, targeting $0.000019!
Keep these levels on your radar! Are you ready for the next leg up for the dog-themed duo?
