The same coin-mania, the same coin-extravaganza, you name it. The point is that Dogecoin (DOGE) and Shiba Inu (DOGE) had been the headliners in recent days due to their price action, which had led several crypto holders to move towards this type of asset. .
The SHIB price spike has been accompanied by the Bitcoin (BTC) surge across the board, leading Ethereum (ETH) to refresh its all-time highs above $ 4,400.
Celebrities like Jason Derulo, renowned financial journalists from mainstream media like Bloomberg, crypto personalities and financial technology players have talked a lot about how the ‘Dogecoin killer’ managed to skyrocket from 0 , $ 000015 to $ 0.000088 in a matter of days, even generating over a million tweets. in a single day after the move.
SHIB-Mania
But that hadn’t been just the icing of the cake in the coin frenzy, as restaurants started accepting SHIB as a form of payment, like a Parisian restaurant this week. Additionally, one of the largest cinemas in the world is considering the possibility of accepting Shiba Inu coins as a form of payment to sell their movie tickets.
What surprised the mainstream media recently was an investment by SHIB that grew from $ 8,000 to $ 5.7 billion in just 400 days due to the recent rally. The massive profit-taking maneuvers also resulted in another bullish run seen in DOGE, which managed to break above $ 0.30 after breaking through a triangular pattern.
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With this scenario in place, the question arose as to how the meme coin mania could last longer, as some people believe that these coins are simply backed up by announcements about endorsements from key people or by companies accepting them. as a means of payment.
DOGE at $ 0.88?
Su Zhu, a former Deutsche Bank trader, to have a reference to to the possibility that Dogecoin is trading around $ 0.88 after the SHIB rally. That said, SHIB could experience a massive wave of shorts due to the astonishing bullish move it has had over the past few days, and such profits could enter DOGE, which is a coin that had been well consolidated. in the sphere.
In fact, Tesla CEO Elon Musk recently appointed Dogecoin as people’s crypto. This is why the crypto community is always wondering if the coins are just driven by the regular dynamics of the sphere or by Musk’s tweets.
So far, in terms of on-chain metrics, institutions and whales are fueling DOGE’s price action, implying that the coin is not just a popular crypto but a corporate crypto of our own. days. Will SHIB also become a crypto company? Time will tell us.