Crypto Veteran Turns Bullish On Dogecoin, But What About Shiba Inu?

Bitcoinist
Updated
Mitrade
coverImg
Source: Shutterstock

Crypto veteran Peter Brant has become bullish on Dogecoin (DOGE). At the same time, Shiba Inu (SHIB), the second-largest meme coin’s outlook is also bullish. However, the on-chain analytics platform Santiment suggested that investors might have to wait a while to witness new highs. 


Crypto Veteran Turns Bullish On Dogecoin


Crypto veteran Peter Brandt has turned bullish on Dogecoin. In a recent X post, he suggested that the foremost meme coin could enjoy a massive rally soon enough. Brandt highlighted a channel breakout on the DOGE chart, which he shared. Based on the chart, Dogecoin could rise to its current all-time high (ATH) of $0.7 if it breaks above that channel. 

Dogecoin Shiba Inu 1

The trader also remarked that the longer term could be constructive. He highlighted a historical inverse head-and-shoulders pattern that had previously formed on DOGE’s chart before it broke out. Dogecoin looks to have completed this pattern again and is ready for a breakout to the upside. Based on his accompanying chart, the trader’s price target for the meme coin in the long term is $2.5. 

Shiba Inu 2

This provides a more bullish outlook for Dogecoin, considering that most crypto analysts like Crypto Kaleo have predicted that the meme coin would at least reach $1 in this bull run. Kaleo recently reaffirmed his prediction again, stating that DOGE to $1 isn’t a “meme.”

Crypto analyst Master Kenobi stated that Dogecoin’s rise to $1 could mirror Bitcoin’s 2017 rally from $10,000 to $20,000 in just under two weeks. However, he is confident DOGE’s rally from $0.10 to $1 could even be faster. Master Kenobi also believes that the meme coin could still rally to $2 or higher, just like Brandt predicts. He stated that Dogecoin’s rally from $1 to $2 could happen “in a single day, or two at most.”


Shiba Inu 3

Shiba Inu Is Also Gaining Attention


Shiba Inu’s outlook is also bullish. The meme coin has surged over 47% in the last seven days and is back above $0.00002. The on-chain analytics platform Santiment revealed that there has been a significant rise in SHIB’s discussion rate. These discussions have included the recent 33,000% surge in Shiba Inu’s burn rate, contributing to the price surge


Meanwhile, Santiment also revealed in an earlier X post that Shiba Inu’s on-chain activity is surging compared to other altcoins and meme coins. Metrics like volume, circulation, and social dominance have spike. Whale transactions also recently rose to a 10-week high. 

Dogecoin Shiba Inu 4

Santiment warned that this indicates that the FOMO toward Shiba Inu is currently high. Therefore, there is a considerable likelihood that a local top is near. The platform added that these bullish metrics might need to calm down slightly before SHIB surpasses its year-high of $0.000043, recorded earlier this February. 

Dogecoin price chart from Tradingview.com

* The content presented above, whether from a third party or not, is considered as general advice only.  This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.

goTop
quote
Do you find this article useful?
Related Articles
placeholder
Shiba Inu Price To $0.000081 Target: Analyst Forecasts The Catalyst Behind ItA new bullish price target has been set for the Shiba Inu price, with an analyst revealing the major trigger that could push this top meme coin to the $0.000081 level. This optimistic price forecast follows recent substantial gains experienced by Shiba Inu, indicating a potential for a major rally.
Author  Bitcoinist
Oct 30, Wed
A new bullish price target has been set for the Shiba Inu price, with an analyst revealing the major trigger that could push this top meme coin to the $0.000081 level. This optimistic price forecast follows recent substantial gains experienced by Shiba Inu, indicating a potential for a major rally.
placeholder
Dogecoin (DOGE) Price Shows Strong Bullish Sentiment as Buyers Gain ControlDogecoin (DOGE) price is showing signs of bullish momentum, as recent technical indicators point toward potential gains. The Ichimoku Cloud, EMA lines, and DMI all suggest positive movement, though the strength of the trend is still uncertain.
Author  Beincrypto
Oct 29, Tue
Dogecoin (DOGE) price is showing signs of bullish momentum, as recent technical indicators point toward potential gains. The Ichimoku Cloud, EMA lines, and DMI all suggest positive movement, though the strength of the trend is still uncertain.
placeholder
Shiba Inu Price Prediction: SHIB Poised to Hit a Wall as this Altcoin Alternative Blazes Ahead with a 3,000x RunSHIB took the crypto market by storm when the Shiba Inu price bolted to its peak in 2021. Initially created as a lighthearted alternative to DOGE, it caught investors’ attention and resulted in this meteoric rise.
Author  Bitcoinist
Oct 21, Mon
SHIB took the crypto market by storm when the Shiba Inu price bolted to its peak in 2021. Initially created as a lighthearted alternative to DOGE, it caught investors’ attention and resulted in this meteoric rise.
placeholder
Dogecoin Price To $10: Similar Patterns That Led To Previous Parabolic Breakout Have ReappearedThe Dogecoin price is once again gearing up for a significant move to the upside. In a recent price analysis of current price movement and previous price action, an analyst suggested Dogecoin is on track to repeat another parabolic run, potentially sending its price skyrocketing to $10.
Author  Bitcoinist
Oct 18, Fri
The Dogecoin price is once again gearing up for a significant move to the upside. In a recent price analysis of current price movement and previous price action, an analyst suggested Dogecoin is on track to repeat another parabolic run, potentially sending its price skyrocketing to $10.
placeholder
Donald Trump Soaring Election Odds Sends Kamala Harris Meme Coin Down By 28%Kamala Horris (KAMA), the meme coin linked to current US Vice President Kamala Harris, is down 28% in the last seven days. This development comes following rising odds that Republican candidate and former president Donald Trump could win the next elections.
Author  Beincrypto
Oct 17, Thu
Kamala Horris (KAMA), the meme coin linked to current US Vice President Kamala Harris, is down 28% in the last seven days. This development comes following rising odds that Republican candidate and former president Donald Trump could win the next elections.