Dogecoin and Shiba Inu Are Moving Sideways
Even though the market is very unstable, Dogecoin and Shiba Inu are holding their ground. The two meme tokens are trading in very narrow ranges. This has been going on for the past week, which is worrying. The volatility of the larger market is still a factor.
Many investors are confused because there hasn’t been a clear move. Will they ever see another big bull run? This sideways movement is very different from what they used to do. Prices are now affected by a lot of new things.
A Look at Trader Notes and Important Signals
A well-known crypto trader has pointed out an important signal for Shiba Inu. He said that it has confirmed a new bullish MACD divergence. This difference often means that a big upside reversal could happen. He thinks there will be a big change in the near future.
A chart analyst said that Dogecoin has successfully defended a key support level five times. People now see this level as a key turning point. It will probably decide what the meme coin does next. A lot of traders think this level is very important.
Statistics and Activity on the Network
Shiba Inu’s on-chain stats are now showing a big drop. The number of transactions per day has dropped below one million. This has been going on since late August. This is a very clear sign that there is a lot less activity on the network.
On the other hand, Dogecoin’s trading volume is going up a little bit. The open interest in futures has also been holding a key level for a long time. This shows that there is still some new interest in the token that is not based on facts.
Recommended Article: Dogecoin Rebounds From $0.21 Key Support Level
Dogecoin’s Mainstream Push Led by Elon Musk’s Legal Counsel
There has been a new and very important change for Dogecoin. A lawyer who has worked with Elon Musk for a long time is now going to be in charge of a new Dogecoin Treasury company. The House of Doge supports this business. Reports say that the company wants to raise at least $200 million.
This plan could be the official start of Dogecoin’s entry into mainstream finance. This is a very important step for the token’s future. The effort to raise money is a strong sign. It shows that a lot of new institutions are now interested in the token.
Dogecoin Steps Into Mainstream Finance with New Treasury Company
A new Dogecoin Treasury company is about to start, which is a big step forward. A very well-known lawyer is in charge of this business. The House of Doge, a well-known group in the community, supports the company. The business wants to get a lot of money.
Dogecoin could be entering the world of mainstream finance with this move. This is a very important time for the token and a very important time. People in the community are now paying close attention to this. It shows that interest from institutions is growing.
The Future of a Possible Shiba Inu Rally
A few important things will now determine whether or not there will be a Shiba Inu rally. There is a lot of bullishness in the MACD divergence. But the drop in network activity is a big worry. The token needs to figure out how to get new users.
The price forecast for the near future is very high. It’s possible that it will move toward a new level of resistance. But the token needs to get past the problems it’s having right now. It’s still very unclear what will happen to Shiba Inu in the future.
Dogecoin and Shiba Inu Sideways Trend: A Call for Utility
The fact that Dogecoin and Shiba Inu prices are moving sideways shows a big theme. People in the market want more than just hype and guesswork right now. The future of meme coins will probably depend on how well they can find new uses.
Projects that can get money from institutions and come up with new ways to use it will do well. The new Dogecoin Treasury company is a good thing. This shows that the whole industry is growing up.
