Dogecoin Up 14%, Shiba Inu Up 8%—Why Are Meme Coins Suddenly Pumping?

Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) have climbed 14% and 8%, respectively over the past week.

Increasing burn rates and growing real-world use cases have market participants predict further upside.

Trader Notes: Crypto trader Mags aka TheScalpingPro predicts that Dogecoin is on the verge of a "god candle."

Trader Mikybull Crypto highlighted that Dogecoin appears primed to hit $1, citing a bullish setup and noting that historical moving average retests have often preceded major upward moves.

Crypto trader Shib Knight observed that the current accumulation zone for Shiba Inu may resemble only a minor dip once the token pumps.

Statistics: Shibburn data reveals that SHIB burn rates surged 644.9% in a single day, removing 30.4 million tokens from circulation.

This consistent rise in burns highlights the community's strength and suggests that increased scarcity could support higher meme coin prices.

CryptoQuant data shows Shiba Inu transactions jumping by 70%, signaling renewed activity among large holders and sparking speculation that traders may be positioning for a potential breakout.

For Dogecoin, Coinglass reports that open interest reached $5.03 billion—the highest since Sep. 22. In the past 24 hours, DOGE liquidations totaled $8.88 million, with $5 million coming from long positions.

Community News: On Oct 6, 2025, Bitwise Asset Management filed an amended S-1 registration statement with the U.S. SEC for the proposed Bitwise Dogecoin ETF. The initial filing occurred in March 2025, followed by a revised submission in June 2025.

In addition, Dogecoin launched the Cardinals Index Node, a significant technical upgrade aimed at improving transaction validation and network efficiency. This enhancement strengthens decentralization and broadens DOGE's functionality beyond simple payments.

Read Next: 

• Bitcoin Steady On $1 Billion ETF Inflows As XRP Dips Below $3 While Ethereum, Dogecoin Rise