The year 2022 was one of the worst years for crypto, but since the start of 2023, it looks like the crypto market will defy bearish sentiment. Today, as Bitcoin made a comeback with a $20,000 claim, the global crypto market cap also surpassed $1 trillion for the first time since November 2022.
Meanwhile, coins like Shiba Inu and Dogecoin have decided to follow the bullish trend of the crypto market. The king meme, Dogecoin is once again trading above $0.085 which was not seen after December 16, 2022. At press time, Dogecoin is selling at $0.886 with a gain of 10.82% in the last 24 hours.
The way DOGE is increasing its price rise, it seems that investor sentiment is positive. Amid the uncertainty of Dogecoin’s integration into Twitter, the Dogecoin Foundation launched a development fund. This fund is primarily focused on improving the Dogecoin network by helping to be one of the big cap cryptos.
SHIB and DOGE on a crucial move
Meanwhile, Shiba Inu broke strongly above its crucial resistance of $0.0000102 after a week-long rally. Currently, Shiba Inu has managed to gain 13.59% in the last 24 hours and is now trading at $0.00001076. The highly anticipated Shiba Inu upgrade, Shabarium is one of the main reasons for SHIB’s bullish momentum. Indeed, Shibarium aims to reduce Shiba Inu network transaction fees as well as SHIB burning on every Shibarium transaction. The burning mechanism will reduce the circulating supply of SHIB and in turn increase the demand for this token.
However, once the successful integration of Shiba Inu’s Shibarium and Dogecoin into Twitter is complete, the network is expected to grow even further. If that happens, Shiba Inu can easily break above $0.00001100 while Dogecoin will lead its price action above $0.0920.