Dogecoin and Shiba Inu price rises in response to positive investor sentiment


  • 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. 

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


Recommended Content

Editors’ Picks

Crypto bloodbath: $325 billion market cap vanishes amid selling pressure

Crypto bloodbath: $325 billion market cap vanishes amid selling pressure

The Kobeissi Letter reports on Tuesday a $325 billion wipeout in the crypto market capitalization since Friday. Additionally, Bloomberg reports that Citadel Securities, a firm with $65 billion in assets, is exploring a role as a Bitcoin and crypto liquidity provider.

More Cryptocurrencies News
Bitcoin edges below $90,000, ending its long streak of consolidation

Bitcoin edges below $90,000, ending its long streak of consolidation

Bitcoin (BTC) continues to trade in red, reaching a low of $88,200 during Tuesday’s early Europen trading session and hitting the lowest level since mid-November after falling 4.89% the previous day.

More Bitcoin News
Shiba Inu holders unload 61.5 billion tokens in the last ten days

Shiba Inu holders unload 61.5 billion tokens in the last ten days

Shiba Inu price hovers around $0.000013 on Tuesday after dropping nearly 12% the previous day. Supply Distribution data shows that whale wallets have decreased SHIB holdings in the last ten days.

More Shiba Inu News
XRP eyes further downside as Trump to implement tariffs on Mexico, Canada, in March

XRP eyes further downside as Trump to implement tariffs on Mexico, Canada, in March

Ripple's XRP joined the wider crypto market decline, plunging nearly 10% on Monday following President Donald Trump reiterating that the US will kick off tariffs on Mexico and Canada.

More Ripple News
Bitcoin: BTC demand and liquidity conditions remain weak

Bitcoin: BTC demand and liquidity conditions remain weak

Bitcoin price has been consolidating between $94,000 and $100,000 since early February, hovering around $98,000 at the time of writing on Friday. Despite this consolidation, US Bitcoin spot ETFs data recorded a total net outflow of $489.60 million until Thursday, hinting signs of weakness among institutional investors. 

Read full analysis
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

BTC

ETH

XRP