Dogecoin and Shiba Inu Rise 5% as Excitement Builds Over Dogeverse Meme Coin ICO

The post Dogecoin and Shiba Inu Rise 5% as Excitement Builds Over Dogeverse Meme Coin ICO appeared first on Coinpedia Fintech News

After a week-long downtrend, the OG meme coins Dogecoin (DOGE) and Shiba Inu (SHIB) rallied by 5% in the past 24 hours from their respective support levels.

As the meme coin market gains momentum, a new player called Dogeverse is also making waves and has now raised over $13 million in its recently launched presale phase.

Dogecoin and Shiba Inu See Bullish Patterns

DOGE and SHIB recorded losses of around 10% over the last week. Both of these coins were now up by 5% in the last 24 hours, recovering nearly 50% of their weekly losses.

A popular crypto trader and technical analyst Ali Martinez recently pointed out that Dogecoin’s previous losses were a part of normal behavior before ‘massive bull runs.’

He went on to compare DOGE’s recent price action with its 2017 bull run that offered investors a 982% return.

Ali highlighted how DOGE broke out of a classic descending triangle pattern in 2017 and 2021, which saw a downtrend of nearly 40% to 50% followed by a rally to its then ATHs.

In 2024, DOGE is following a similar trend, where it has broken out of its descending triangle on the weekly chart again and corrected by over 45% since then. 

As a result, many traders now feel that Dogecoin is ready for a bull run. This belief was evident as Santiment data showed that addresses holding between 100K – 1 million DOGE were rising.

On the other hand, Shiba Inu also turned bullish and traded at $0.00002286 at press time with a market cap of over $13.4 billion. IntoTheBlock’s data showed how 58% of SHIB holders were in profit at the time of writing.

SHIB’s daily chart saw a classic bull flag after retracing from its March highs. The meme coin rebounded from its immediate support level at $0.0000206 and clocked in a 5% gain over the past day.

Any break above the $0.000025 level above the pattern can stir an uptrend in the coming weeks. Santiment data for SHIB showed a spike in social volumes for the meme coin, confirming the bullish sentiment.

Many traders now think a hot new meme token called Dogeverse could explode next, especially given its impressive presale performance– raising over $13 million in less than 4 weeks.

Is Dogeverse the Next Meme Coin to Explode? Presale Exceeds $13M

Aiming to leverage the recent meme coin market boom, Dogeverse ($DOGEVERSE) is the first-ever Doge token that can work on many different blockchains. 

It has a unique character called Cosmo, the Doge who can jump between blockchains. The platform is inspired by the popular Doge memes and wants to unite a diverse crypto community. 

$DOGEVERSE can work on several major blockchains, including Ethereum, Polygon, Solana, BNB Chain, Avalanche, and Base. Early buyers can get $DOGEVERSE for just $0.000305 at the time of writing.

By using advanced technologies called bridges (like Wormhole and Portal Bridge), $DOGEVERSE ensures that users can easily move between blockchains.

It also has a staking mechanism, where buyers can stake $DOGEVERSE and earn an APY of over 80% at press time.

Over 19 billion $DOGEVERSE tokens have already been staked on the platform, showing huge community support and trust.

Adding to the excitement, many popular crypto analysts like Jacob Bury have recognized the need and potential of a truly multi-chain meme token like Dogeverse.

In fact, Bury highlighted how early buyers have an excellent opportunity to compound their returns by staking $DOGEVERSE even before the presale ends.

You can follow Dogeverse on X (Twitter) and enter its Telegram group for the latest updates.

Visit Dogeverse Presale