The Japanese dog breed Shiba Inu-themed meme coins posted double-digit gains in the crypto market recovery this week. The developers behind Shiba Inu (SHIB) have announced that the meme coin’s public layer 2 testnet will be released ‘very soon’. Dreaming Doge NFTs were launched and sparked interest in the meme coin. With these developments, analysts predict a massive price rally in Shiba Inu when the meme coin breaks the resistance at $0.000029. For details, continue reading Kriptokoin.com.
DOGE and SHIB lead crypto market recovery
Dog-themed cryptocurrencies posted double-digit gains in the crypto market recovery on Monday, while SHIB developers have launched the Dogecoin killer tier 2 solution. SHIB has rebounded from the recent crypto market bloodbath, posting double-digit gains overnight. Shiba Inu-themed cryptocurrencies led the market recovery.
Dogecoin and SHIB have announced several updates to their ecosystem. Shiba Inu developers have announced that the meme coin’s public testnet, its layer-2 solution, could be released ‘very soon’. According to experts, the release of tier-2 could drive Shiba Inu adoption among users.
Meanwhile, Dogecoin-based pixelated NFT collection Dreaming Doge was released and attracted a lot of attention among investors. Dogecoin creator Billy Markus shared his thoughts on the launch of NFTs on Twitter:
The last 3 “Dreaming” variants of my Dreaming Doge NFTs have been released. There are 88 pieces in total in the collection, 8 of which are of each type. These are pixel art NFTs of a little dog with big dreams. Feel free to dl, they work well as phone background!
Price predictions for Shiba Inu and Dogecoin
Analysts, evaluating dog-themed cryptocurrencies, predict that the bull trend will continue. Prominent trader ali_charts predicts that if it breaks the resistance, SHIB price could hit $0.000033:
SHIB is facing stiff resistance ahead. However, SHIB will clear the way for an impressive break towards $0.000033 once it surpasses $0.000024.
WalterCripto, a crypto analyst and trader, believes that the Dogecoin price is at the bullish or breaking point. Dogecoin price broke the $0.1469 resistance and things could get interesting in the medium term:
DOGE support held well, now fighting TR Ribbon. If it breaks the resistance, things could get interesting in the medium term. In the meantime, personally, I’m just waiting.
FXStreet analysts, on the other hand, think there is a hurdle that needs to be broken before DOGE rises to $0.20.
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