Will Dogecoin & Shiba Inu Continue Their Parabolic Run Ahead?

Recent on-chain data indicates that the leading meme coins like Dogecoin, Shiba Inu, and others are poised to rally in the coming days, sparking market optimism. IntoTheBlock has recently highlighted a trend, saying that the investors haven’t fully entered the crypto space yet, especially in the meme coins segment, which suggests that these crypto could witness further rallies ahead. Besides, a flurry of other market trends also hints at a potential rally for DOGE and SHIB ahead.

Dogecoin & Shiba Inu Likely To Continue Rally

The latest rally in the top meme coins indicates that the investors are shifting their focus towards the sector. Notably, Dogecoin has noted monthly gains of nearly 175%, while Shiba Inu records around 33% gains in the same time frame, indicating the positive sentiment hovering in the market.

Amid this, leading on-chain analytics platform IntoTheBlock highlights that meme coin activity is still lower than previous peaks, despite rising market caps. In a recent post on X, the platform has witnessed this disparity. Notably, the data indicates that retail investors are yet to fully re-engage with the meme coin market.

Source: IntoTheBlock, X

Meanwhile, this divergence, coupled with the recent price surge, suggests that top meme coins like DOGE, SHIB, PEPE, and others, could rally further. As market sentiment continues to improve, retail enthusiasm is expected to drive trading volumes higher. This aligns with IntoTheBlock’s analysis, which views meme coin trends as strong indicators of retail investor activity.

Moreover, the growing confidence in the broader cryptocurrency market after Donald Trump’s election win adds fuel to the bullish outlook for these tokens. If retail investors increase their participation, DOGE and SHIB prices may climb to new heights alongside Bitcoin, marking another parabolic run.

What’s Next For DOGE & SHIB Prices?

Dogecoin’s role as a pioneer in the meme coin space, coupled with Shiba Inu’s ecosystem developments, positions both tokens as favorites for another rally. Analysts believe that the combination of untapped retail interest and growing market confidence could sustain the upward momentum for these top dog-themed meme coins.

DOGE Price

In a recent X post, Ali Martinez said that Dogecoin whales are on a buying spree, predicting the crypto to hit $2.40 in the coming days. Further fueling sentiments, he indicates that the crypto could hit $18 in the coming days.

Source: Ali Martinez, X

However, amid the optimism, it appears that the investors are taking a pause. DOGE price today was down nearly 1.5% and traded at $0.3903, while its trading volume soared 6% to $10.91 billion. Despite that, a recent Dogecoin price analysis hints at a potential 5100% rally for the meme coin, sparking market optimism.

SHIB Price

SHIB price today also followed the same path as DOGE, noting a decline of nearly 3% to $0.00002446, while its trading volume soared 20% to $1.51 billion. However, a recent Shiba Inu price analysis hints at a potential rally for the meme coin to $1 in the coming days.

In addition, Martinez in a recent X post said that 1.67 trillion SHIB has been withdrawn from exchanges in the last 24 hours. It indicates a strong market confidence in the crypto. Besides, Martinez cited historical trends, saying that a similar spike in transactions has previously sparked a 62% rally in SHIB price, boosting market optimism.

Source: Ali Martinez, X

Besides, the Shiba Inu burn rate has also noted a massive spike recently, further bolstering market confidence. Notably, the burning of tokens indicates reduced supply in the market, which in turn could push the assets’ prices higher.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.