Are Dogecoin (DOGE) and Shiba Inu (SHIB) Ready for More Profits? Famous analyst Chips by

TL; DR

Dogecoin (DOGE) and Shiba Inu (SHIB) have seen significant price increases of 30% and 10%, analysts predict further growth. Key factors contributing to the Shiba Inu's future rally are the burn rates and advances associated with the L2 scaling solution Shibarium.

The cryptocurrency sector rebounded last week, with the two best performing assets being Dogecoin (DOGE) and Shiba Inu (SHIB). The largest Memcoins by market capitalization rose 30% and 10% on a 7-day scale.

According to some analysts, the rally is not close to ending and may lead to new highs in the near future. Such a brutal statement was made by popular X user Rect Capital.

The merchant proposed that That DOGE ended the “macro collapse” and started a new “macro rise”. Rect Capital believes a close above $0.20 in late March will fuel a rally to the $0.30 mark (a price not seen since October 2021).

Dogecoin's price increase has been linked to an increase in some important metrics related to the ecosystem. Like CryptoPotato reportedTotal daily volume (each transaction over $100K) jumped nearly 100%, while daily active addresses rose 13%.

According to IntoTheBlock, nearly 90% of all DOGE holders are currently sitting on paper profits. About 60% of Dogecoin investors time trend was very different in September of last year They were in the water.

The analyst also touched on SHIB. Predict If the asset price rises above the main resistance level of $0.000033285 to a new all-time high. “The retry was successful. SHIB's history is repeating itself,” argues Rekt Capital.

The meme coin rally coincides with the rise of the burning method. Yesterday (March 28), SHIB's burn rate It exploded by 1,200%, resulting in over 51 million tokens destroyed.

Another factor that can fuel the growth of Shiba Inu is the further development of the Layer-2 blockchain solution Shibarium. Earlier this month, total transactions on the network crossed the 400 million mark. For those who are willing to learn more about the feature and how it can boost the growth of Meme Coin, feel free to watch our video below.