The year 2022 has been one of the worst years for cryptocurrencies, however, since 2023 started, it seems that the cryptocurrency market will defy the bearish sentiment. Today, when Bitcoin returned with a claim of $20,000, the global crypto market capitalization also surpassed $1 trillion for the first time since November 2022.
Meanwhile, meme coins like Shiba Inu and Dogecoin have decided to follow the bullish trend of the crypto market. The king of memes, Dogecoin is once again trading above $0.085, which was not seen after Dec 16, 2022. At press time, Dogecoin is selling at $0.886 with a profit of 10, 82% in the last 24 hours.
From the way DOGE is increasing its price rally, it seems that investor sentiment is positive. Amid the uncertainty of Dogecoin’s Twitter integration, the Dogecoin Foundation has launched a Development Fund. This fund is primarily focused on improving the Dogecoin network helping to make it one of the large-cap cryptocurrencies.
SHIB and DOGE in a crucial move
Meanwhile, Shiba Inu has rallied strongly above its crucial resistance of $0.0000102 after a week-long rally 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. This is because Shibarium aims to reduce the Shiba Inu network transaction fee along with burning SHIB on every Shibarium transaction. The burn mechanism will reduce the circulating supply of SHIB and, in turn, increase the demand for that token.
However, once the successful Shibarium integration of Shiba Inu and Dogecoin on Twitter is complete, the network is expected to grow even further. If that happens, Shiba Inu can easily make his move above $0.00001100, while Dogecoin will lead its price action above $0.0920.
This post These indicators will lead the next bull run of Shiba Inu and Dogecoin
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