CoinEfficiency

DOGE and SHIB Rally: Meme Coins Surge Amid Positive Market Sentiment

Dogecoin (DOGE) and Shiba Inu (SHIB) have seen significant price increases, with DOGE rallying over 6% and SHIB rising nearly 5% in the last 24 hours. The surge is linked to a positive shift in market sentiment and potential developments in crypto adoption.
Published on 2022-10-26

DOGE and SHIB See Significant Gains

Dogecoin (DOGE) and Shiba Inu (SHIB) have started their intraday trading session on a positive note, with both meme coins experiencing notable price increases. DOGE rallied over 6% yesterday, reversing a 1.53% decline from Monday. The coin reached a daily high of $0.06665 before retracing slightly to $0.06617. Its trading volume surged 181% over the past 24 hours, reaching $661,274,430.

SHIB also performed well, rising by 2.82% yesterday and reversing a 2.36% loss from Monday. The coin touched $0.00001058 during the session, its highest level since October 18. SHIB's price currently stands at $0.00001047, reflecting a 4.83% gain today.

Market Sentiment Shift and External Factors

The price movements of DOGE and SHIB appear to be influenced by a positive shift in sentiment toward the Federal Reserve's monetary policy, which has boosted the broader crypto market. Additionally, reports of Twitter developing a crypto wallet and expectations of Elon Musk driving crypto adoption have further fueled DOGE's rally.

Current Price Levels and Outlook

DOGE is currently trading at $0.06617, while SHIB is priced at $0.00001047. Both coins are closely tied to the broader crypto market, with no significant network updates influencing their prices. The recent gains may signal improving investor sentiment, but traders should remain cautious and conduct thorough research before making any investment decisions.

Disclaimer

The information provided is for general awareness and does not constitute financial advice. Readers should perform their own research and due diligence before taking any investment action. Coin Edition and its affiliates are not liable for any direct or indirect losses resulting from the use of this information.

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