Dogecoin and Shiba Inu Rise 5% as Excitement Builds Over Dogeverse Meme Coin ICO

Dogecoin and Shiba Inu Surge 5% Amidst Dogeverse Meme Coin ICO Hype

After a week-long downturn, the OG meme coins Dogecoin (DOGE) and Shiba Inu (SHIB) have rallied by 5% over the past 24 hours, rebounding from their respective support levels.

As the meme coin market regains momentum, a new player called Dogeverse has emerged, raising over $13 million in its recent presale phase.

Dogecoin and Shiba Inu Exhibit Bullish Patterns

DOGE and SHIB recorded losses of around 10% over the previous week. However, both coins have now gained 5% in the last 24 hours, recovering nearly 50% of their weekly losses.

Crypto analyst Ali Martinez suggests that Dogecoin's recent dip is typical before "massive bull runs." He compares DOGE's current price action to its 2017 bull run, which yielded a 982% return for investors.

Martinez highlights that DOGE broke out of a descending triangle pattern in 2017 and 2021, experiencing a downtrend of 40-50% followed by a rally to all-time highs.

In 2024, DOGE is exhibiting a similar trend, breaking out of its descending triangle on the weekly chart and correcting by over 45%. Many traders now anticipate a bull run for Dogecoin. This belief is supported by Santiment data, which shows an increase in addresses holding between 100K and 1 million DOGE.

Shiba Inu has also turned bullish, trading at $0.00002286 at press time with a market cap of over $13.4 billion. IntoTheBlock's data indicates that 58% of SHIB holders are currently in profit.

SHIB's daily chart reveals a classic bull flag after retracing from its March highs. The meme coin rebounded from its immediate support level at $0.0000206, gaining 5% over the past day.

A breakout above the $0.000025 level could trigger an uptrend in the coming weeks. Santiment data for SHIB shows a surge in social volumes, confirming the bullish sentiment.

Dogeverse: The Next Meme Coin to Explode? Presale Surpasses $13M

Capitalizing on the meme coin market boom, Dogeverse ($DOGEVERSE) is the first Doge token compatible with multiple blockchains. It features a unique character named Cosmo, the Doge who can traverse blockchains. The platform draws inspiration from popular Doge memes and aims to unite the diverse crypto community.

$DOGEVERSE is interoperable with major blockchains such as Ethereum, Polygon, Solana, BNB Chain, Avalanche, and Base. Early buyers can acquire $DOGEVERSE for $0.000305 at the time of writing.

Utilizing advanced bridge technologies (e.g., Wormhole and Portal Bridge), $DOGEVERSE enables users to seamlessly transfer between blockchains. It also offers a staking mechanism, allowing buyers to stake $DOGEVERSE and earn an APY of over 80% at press time.

Over 19 billion $DOGEVERSE tokens have been staked on the platform, reflecting significant community support and trust.

Prominent crypto analysts like Jacob Bury have acknowledged the need and potential for a truly multi-chain meme token like Dogeverse. Bury emphasizes the lucrative opportunity for early buyers to compound their returns by staking $DOGEVERSE before the presale concludes.

Follow Dogeverse on Twitter and join its Telegram group for the latest updates.

Visit the Dogeverse Presale