(Kiran News) – Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) continued to trade in narrow ranges this week, holding steady amid broader volatility in the cryptocurrency market.
Current Prices and Market Performance
Dogecoin (DOGE): $0.2115 | Market Cap: $31.9 billion | 7-Day Change: +0.5%
Shiba Inu (SHIB): $0.00001226 | Market Cap: $7.2 billion | 7-Day Change: +0.7%
Pepe (PEPE): $0.059607 | Market Cap: $4.03 billion | 7-Day Change: -3.6%
Trader Insights and Technical Analysis
Crypto trader Javon Marks pointed out that Shiba Inu has shown a bullish MACD divergence, a technical indicator that often signals the possibility of a major upward reversal. Marks projects that SHIB could rise by up to 163% in the short term, targeting $0.00003, with the breakout structure hinting at potential long-term gains of up to 570%, reaching near $0.000081.
Meanwhile, chart analyst Ali Martinez noted that Dogecoin has defended its crucial $0.208 support level five times, making this price point a key pivot for DOGE’s future direction.
Network and Volume Data
Activity on Shibarium, Shiba Inu’s Layer 2 blockchain, has declined, with daily transactions dropping below 1 million since August 26. The latest figures show volume at only 16,670, according to Shibariumscan.
Dogecoin’s trading volume increased by about 6% in the past day, while open interest has consistently remained above the $3 billion mark since early August, according to data from Coinglass.
Community and Mainstream Developments
In a notable community update, Alex Spiro—Elon Musk’s longtime lawyer—will chair a new Dogecoin Treasury company backed by the House of Doge. The firm reportedly aims to raise at least $200 million through a public offering. While details are still emerging, the initiative could mark Dogecoin’s first significant move into mainstream finance.
Outlook
As both meme coins maintain their positions in tight trading ranges, market participants are watching closely for any technical breakouts or new developments that could trigger the next major bull run.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
