Shiba Inu (SHIB) Gains Momentum, Dogecoin (DOGE) Sees Massive Surge: What’s Driving Both Coins?

Shiba Inu and Dogecoin Surge Amidst Altcoin Rally

Shiba Inu (SHIB) and Dogecoin (DOGE) have witnessed significant market movements, with SHIB's burn rate surging drastically and DOGE breaking free from a crucial support level.

Shiba Inu Burns Token Supply at Accelerated Rate

Shiba Inu's burn strategy aims to reduce the token's supply and increase its value. Over the past 24 hours, the burn rate has increased by a staggering 7,911%, resulting in the destruction of nearly 281.9 million SHIB tokens. This rapid burn has contributed to a 3.94% intraday increase in SHIB's price, which currently stands at $0.00001882.

Dogecoin Breaks Above Key Resistance

Dogecoin has recently exceeded the $0.11 support level, signaling a reversal in its downtrend. The token's on-chain transactions have also surged this week, suggesting strong buying pressure. Analysts anticipate a potential 300% rally for DOGE if the Q4 altseason predictions hold true. Currently, DOGE is trading at $0.1263, with an intraday gain of 10.48%.

Lunex Network Presale Nears $1M Milestone

Lunex Network's presale for its native LNEX token has gained significant traction, with investors eager to acquire the token at its current low price of $0.0015. Lunex Network aims to revolutionize the DeFi exchange market by offering non-custodial, multi-chain trading. Its cross-chain trading capabilities and attractive dApp development features have attracted both retail investors and Web3 developers. Analysts project a potential 1800% return on investment before the end of the presale, making Lunex Network a highly anticipated ICO for 2024.