Memecoin BREAKOUT Coming? After Outperforming Ethereum's Week By 300%, this Trend May be FAR From Over...

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SHIB Shiba Inu and DOGE Dogecoin

As the cryptocurrency market gains momentum, Dogecoin and Shiba Inu are poised for some potentially strong breakouts.

Officially the two most popular "meme coins," DOGE (Dogecoin) and SHIB (Shiba Inu) have a full week of building strength behind them, placing them on the radar of a larger number of traders.

DOGE's seven-day gain was 7.41%, while SHIB's seven-day run was an amazing 24.71%.

DOGE broke out of a symmetrical triangle and surpassed the $0.073 resistance level from a technical standpoint. As the Y-axis of the technical formation indicates a 34% goal, these developments could play a big impact in the price movement. If confirmed, Dogecoin might jump to $0.095 or possibly $10 per coin. The abrupt increase in upward pressure allowed it to overcome a crucial section of resistance. Currently, it appears that Dogecoin has the potential to advance further.

However, Dogecoin must maintain a price over $0.068 for the bullish view to be confirmed. If it breaks below this level, it may experience a sell-off that leads to a decline to $0.065 or $0.061.

While current market news largely focused on Ethereum's recent rise, SHIB outperformed ETH with gains of 24% - that's 3X higher than Ethereum's 7%!

The higher price movement of SHIB brought the price into the next area of resistance. As market sentiment improves, surpassing the current level is unquestionably within the realm of possibility.

Obviously, you should conduct your own research and make your own conclusions. - I'm not advocating for anyone to buy any coin, but rather advising you; "look into it".

Author: Justin Derbek
New York News Desk
Breaking Crypto News

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