- The Shiba-Inu-themed cryptocurrencies, Dogecoin and Shiba Inu have recovered from the recent drop in price.
- Dogecoin foundation shared the Shiba-Inu-themed cryptocurrency’s plan for 2022.
- Memecoins are making a comeback with the increasing interest from investors.
- Analysts are bullish on the price of the two memecoins, alongside other altcoins in the ongoing bull run.
Dogecoin and Shiba Inu prices have recovered from the crypto market crash in the first week of December 2021. The two memecoins are rallying and analysts have predicted a continuation of the uptrend.
Dogecoin and Shiba Inu recover from the crypto market crash and continue rally
The two Shiba-Inu-themed cryptocurrencies have recovered from the price drop in the first two weeks of December. Analysts have noted that in the ongoing altcoin rally, memecoins are making a comeback.
The Dogecoin Foundation has revealed its plan for 2022 and elaborated on its “trailmap.” This map explains the strategy that the memecoin plans to adopt in the community-driven future.
The memecoin was bullish until May 2021 and posted 15,000% year-to-date gains. The memecoin has now made a nearly complete recovery from the price drop.
The foundation has proposed a “GigaWallet project” for widespread adoption of the memecoin. The old desktop wallet was not sufficient for Dogecoin’s rising utility.
The announcement reads,
Dogecoin is a community-driven, consensus-based open-source project, and its direction is formed by the many individual and organisational contributors to the various projects of the Dogecoin blockchain & ecosystem.
Despite dropping out of the top 10 cryptocurrencies by market capitalization, over 58% of Dogecoin wallets are profitable. The Shiba-Inu-themed cryptocurrency is focused on becoming the currency of the people.
Pseudonymous cryptocurrency analyst @army_shiba has predicted a rally in Shiba Inu once the memecoin breaks resistance at $0.00003751.
$SHIB should break yellow resistance first!
— $SHIB KNIGHT (@army_shiba) December 25, 2021
Second resistance is top of the candle which is around 0.000040!
Charts are usually silent at weekends, so let's see!
My TG: https://t.co/MOAqqxE2IH pic.twitter.com/ei9BNGl2om
FXStreet analysts have evaluated Shiba Inu price trend and predicted that the token is likely to encounter heavy resistance after a 30% breakout.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Crypto Today: Cardano, XLM, FLOKI lead $3.1 trillion rally, Russia bans crypto mining, Bitcoin eyes $95K
Cardano (ADA) price action ADA’s ongoing rally has been attributed to rumors that the Trump administration could collaborate with the Cardano network to build a blockchain voting system.
Trump administration allegedly seeks to create new crypto position in White House
President-elect Donald Trump and his team are reportedly seeking to introduce a new White House position for crypto policy, Bloomberg reported on Wednesday.
Solana Price Forecast: Traders move 6.7B SOL as bulls target all-time highs
Solana price has succumbed to a 7% dip after rejecting the $250 resistance on Monday. Negative shifts in vital trading indicators suggest bears could delay the all-time high breakout target.
FLOKI to go live on Coinbase few days after the exchange listed PEPE and WIF
Floki Inu (FLOKI) is down 5% on Wednesday following crypto exchange Coinbase's announcement that the token will begin trading on its platform over the next 24 hours.
Bitcoin: New high of $100K or correction to $78K?
Bitcoin surged to a new all-time high of $93,265 in the first half of the week, followed by a slight decline in the latter half. Reports highlight that Bitcoin’s current level is still not overvalued and could target levels above $100,000 in the coming weeks.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.