- Ethereum analysts argue Dogecoin and Shiba Inu price rallies mark start of altseason when money flows from Bitcoin to altcoins.
- Dogecoin price is prepared for the next wave, analysts reveal bullish outlook.
- Analysts identify top signal in Dogecoin price chart – predict an extended rally in the meme coin.
Dogecoin and Shiba Inu prices break into a rally, offering holders gains. Dogecoin offered holders 16% gains over the past week, and competitor Shiba Inu yielded 30% profits. Dogecoin developers believe in the possibility of bigger development as Libdogecoin – a C-library of building blocks that enables integration of Dogecoin without requiring developers to have in-depth blockchain knowledge – tests on IOS Devices.
Developers can soon build apps on Dogecoin through Libdogecoin
Meme coins Dogecoin and Shiba Inu have offered holders massive gains over the past week. Despite a retracement over the weekend, Dogecoin price made a comeback, climbing to $0.081 level. DOGE touched a high of $0.084 over the weekend before a retracement.
Timothy Stebbing, the director of the Dogecoin Foundation announced that developers can build apps on DOGE using project Libdogecoin. The project, developed by Shafil Alam is the key to smart contract launches on the Dogecoin network.
The possibility of smart contract development on DOGE fueled a bullish sentiment among holders. Analysts have a bullish outlook on meme coins Dogecoin and Shiba Inu. A rally in meme coins is typically a precursor to the altseason.
Proponents have identified the market’s risk-on sentiment for the two meme coins in the current cycle. Therefore, as SHIB and DOGE offer holders double-digit gains, analysts have predicted an extended rally in the meme coins.
FXStreet analysts believe Shiba Inu’s price rally has lost momentum and predicted an incoming correction in the meme coin.
Analysts predict next wave of Dogecoin price rally
Dogecoin price flattened its gains over the weekend. This raised caution around the key level of $0.09. Analysts at Coinjournal identified strong bullish momentum in Dogecoin. The bullish scenario is supported by a breakout above resistance at $0.09. The target for Dogecoin is $0.10.
@Mangyek0, a leading crypto analyst and trader identified a top signal in Dogecoin price chart. The meme coin is closer to a breakout, as it offers 6.3% gains to DOGE holders overnight.
Analysts at FXStreet evaluated the possibility of exhaustion in the Dogecoin price rally. For more information, check the video below:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.