Dogecoin (DOGE) and Shiba Inu (SHIB) posted the biggest gains over the weekend as market sentiment appears to have turned in favor of bullish sentiment.
After a weekend that finally saw Bitcoin rise over $ 45,000. Altcoins DOGE and SHIB appear to have been the biggest benefactors of market conditions over the weekend. Bitcoin rose to a nearly three-month high, hitting $ 45,300 on Sunday.
wave of bullish momentum spread to Ethereum, which also posted a nearly three-month high, hitting $ 3,195 on Sunday. total market capitalization increased to $ 1.8 trillion due to bullish purchases causing most of the top 100 currencies to increase in value.
However, the top winners over the weekend saw DOGE and SHIB go up in double digits. At the time of writing, DOGE is up 16%, and SHIB is also up double digits, gaining 10.3% in price.
Source: CoinGecko
DOGE has had a tumultuous run since hitting its all-time high of $ 0.74 on May 8, 2021. However, following a sustained correction, a bounce around the $ 0.15 support level was expected as reported. previously.
DOGE has seen a combined 43% gain since Friday. Rising from $ 0.198, climbing to a Sunday high of $ 0.287. DOGE had previously rebounded from its $ 0.16 resistance level on July 20.
Source: Tradingview
SHIB follows the older brother
correlation between DOGE and its little brother coin, SHIB, was evident over the weekend when the meme token followed DOGE’s price action. SHIB has also seen a price increase since Friday. SHIB went from $ 0.000000613 on Friday to $ 0.00000888 on Sunday. Seeing a 45% profit, similar to that of DOGE.
Also Read BTC, ETH, XRP, HBAR, BLZ, XMR, SC – Technical Analysis Aug 24 Source: Tradingview
DOGE’s recent price action is finally uninfluenced by Tesla CEO Elon Musk. Musk had previously added a profile photo of himself with the Dogecoin logo on his sunglasses. DOGE is up 20% since Musk’s profile update. However, this time it seems that the project is underway without the help of DOGE fans.
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