Here’s Why The Dogecoin And Shiba Inu Prices Are Soaring Today

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As a seasoned crypto investor with over a decade of experience in this wild and unpredictable market, I must say that today’s surge in Dogecoin (DOGE) and Shiba Inu (SHIB) prices has caught my attention, and not just because they are meme coins. The convergence of several factors is pointing towards a bullish outlook for these digital assets, which I find quite intriguing.

Firstly, the impending inauguration of President-elect Donald Trump could potentially be a game-changer for DOGE, given his pro-crypto stance and the upcoming Department of Government Efficiency (DOGE) under Elon Musk’s leadership. This is a development that I would have never anticipated in my wildest dreams!

Secondly, the optimism surrounding a potential 2025 bull run, fueled by industry leaders like CZ Zhao, adds to the positive sentiment around these coins. If 2025 truly turns out to be the “send it” year, I might just retire early and spend more time playing with my actual Shiba Inu pup!

The rebound of Bitcoin (BTC) to over $98,000 also plays a significant role in the current price surge of DOGE and SHIB. As we all know too well, these meme coins often follow BTC’s footsteps. If BTC manages to breach the $100,000 mark, I can only imagine what kind of fireworks we might see in the DOGE and SHIB communities!

Historical trends also support this price surge, with both meme coins experiencing a bullish reversal following sell-offs in December 2020. If history repeats itself, we could be in for an exciting ride ahead!

As for what’s next for these coins, I believe that if Dogecoin manages to break above the $0.59 mark and Shiba Inu breaks through its strong resistance confluence, a new all-time high (ATH) is not just possible but imminent. In the meantime, I’ll be here, waiting with bated breath and my popcorn ready!

Lastly, let me leave you with a joke: Why did the Dogecoin cross the road? To reach the Shiba Inu on the other side and say, “Bullish!

Today, the values of Dogecoin and Shiba Inu have noticeably increased, offering hope to investors. This upturn can be attributed to various elements that suggest a positive trend for these popular meme cryptocurrencies.

Why The Dogecoin And Shiba Inu Prices Are Up

According to CoinMarketCap’s data, both Dogecoin and Shiba Inu have experienced significant growth within the past 24 hours – a rise of more than 14% for Dogecoin and nearly 8% for Shiba Inu. This price spike is attributed to several positive developments that suggest a promising future for these leading meme-based cryptocurrencies. One such development is the upcoming inauguration of the newly elected U.S. president, Donald Trump, which may have influenced this upward trend.

Trump’s inauguration creates optimism for the prices of Dogecoin and Shiba Inu due to his supportive attitude towards cryptocurrencies. Furthermore, Elon Musk’s Department of Government Efficiency (DOGE) is expected to be established upon Trump taking office. This department is likely to boost Dogecoin since Musk derived its name from the cryptocurrency’s ticker symbol ‘DOGE.’

One significant reason for the recent increase in Dogecoin and Shiba prices is the widespread belief that the year 2025 could witness the most significant cryptocurrency bull market yet. This positive sentiment has been further amplified by influential figures in the crypto community, such as Binance‘s former CEO, Changpeng “CZ” Zhao, who expressed his conviction that 2025 will be a breakout year, terming it the “send it” year on Reddit.

The spike in Bitcoin’s price up to $98,000 has also boosted the value of Dogecoin and Shiba Inu today. Since these meme coins tend to move together with Bitcoin, they have a good chance of increasing as long as Bitcoin does. If Bitcoin manages to rise above $100,000, further price increases may follow for these digital currencies.

Historical patterns suggest that the recent surge in Dogecoin and Shiba Inu prices is plausible. During the bull market of 2021, these popular meme coins experienced a bullish turnaround in January 2021, after a series of sell-offs in December 2020. This price recovery then set the stage for these coins to reach unprecedented highs.

What Next For These Coins

In a recent post, cryptocurrency expert Kevin Capital explained the steps required for Dogecoin’s price to hit a fresh record high. He noted that Dogecoin must first surpass the macro golden zone at approximately $0.49. Once this level is breached, it will need to clear the Fibonacci .703 resistance at around $53. If Dogecoin can manage to break above $0.59, a new all-time high is likely on the horizon, according to the analyst.

As a seasoned crypto analyst with years of experience under my belt, I’ve been closely monitoring the Shiba Inu price movements. Recently, I posted my insights about what lies ahead for this popular cryptocurrency. Based on my analysis, it appears that SHIB is in the process of completing a cup and handle formation, which suggests that it’s getting ready to break through the strong resistance confluence of key zones and descending resistance. With such potential price action on the horizon, I believe investors should keep a close eye on Shiba Inu as it could be poised for significant gains in the near future.

The analyst indicated that a strong upward trend (bull run) in the price of Shiba Inu is likely to start soon, and it might reach as high as $0.00013965 during this period.

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2025-01-04 22:12