Dogecoin and Shiba Inu have not had the best couple of weeks so far. Both coins have seen continuous dips that have left their prices down below their all-time highs. With the hype around meme coins dying down, it is no surprise that this has been the case. Dog coins have continued to flood the market at an alarming rate. And it seems with each coin comes a new dip.
Now, though, it seems the dog coins are back at the top of their game. Top dog coins Shiba Inu and Dogecoin have been seeing tremendous gains in the market. Starting from the opening of the weekend when crypto coins saw a massive uptick in their prices.
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The market which had been speculated to be in a bear market already rose back up with a vengeance. With coins posting as much as 15% gains in a single day. And the meme coins have not been left out of this rally, it seems.
The Weekend With New Possibilities
Dogecoin had been trying to hold $0.20 throughout last week. But the coin price continues to struggle in the market as momentum slowed down. The week closed with what seemed to be a sustained low momentum. But the opening of the weekend came with new possibilities for the coin.
The price of Dogecoin started to see marked movement in the early hours of the morning. This saw the price of the coin move out of $0.20. Ending the first day of the weekend at over $0.25.
DOGE breaks out of $0.20 rut | Source: DOGEUSD on TradingView.com
The rally continues to rage on despite a dip in the price as the weekend drew to a close. The past 24 hours have seen the price of Dogecoin grow 1.07%. Hold sentiment continues to be the norm throughout the market. And this sentiment has been no different with the most popular meme coin.
Shiba Inu has fared just as well in the market. The price of the self-acclaimed “Doge killer” has surged the past weekend. In line with the price movement of Dogecoin. SHIB price grew from $0.000006 to over $0.00000885. Before correcting downwards towards the current price of $0.00000784.
Shiba Inu price up following weekend close | Source: SHIBUSD on TradingView.com
Shiba Inu And Dogecoin Are Not Going Anywhere
Both coins have been expected to be pump and dump coins that eventually die out. But the meme coins continue to show the market that they are here to stay. Although started as joke coins, both Shiba Inu and Dogecoin have seen significant work in the projects that are pulling them out of the joke territory.
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As the assets evolve, so have the sentiments around them also evolved. With passing time, investors are starting to view the coins as not just meme coins. But coins that might offer unique use cases in the future.
Furthermore, the price rally that saw the price of Dogecoin hit $0.80 has sparked hope in the coin. Investors continue to hold their coins believing that the even was not a one-off. Most believing if it happened once, then it can happen again.
Featured image from Markets Insider, chart from TradingView.com