Zinger Key Points
- Shiba Inu burn rate surged 8,276.5% in 24 hours, with 1 billion SHIB burned in a single transaction.
- Dogecoin technical indicators suggest a breakout, with some traders predicting a 12x surge beyond $2.28.
- Markets are swinging wildly, but for Matt Maley, it's just another opportunity to trade. His clear, simple trade alerts have helped members lock in gains as high as 100% and 450%. Now, you can get his next trade signal—completely free.
Both Dogecoin DOGE/USD and Shiba Inu SHIB/USD are showing signs of a potential price rally, fueled by strong technical setups and aggressive token burns.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| Dogecoin DOGE/USD | $0.1769 | $26.3 billion | +3.3% | +2.3% |
| Shiba Inu SHIB/USD | $0.00001318 | $7.8 billion | +1.2% | +1.2% |
| Pepe PEPE/USD | $0.057627 | $3.2 billion | +4.1% | +7.7% |
Trader Notes: Crypto chart analyst Ali Martinez pointed out that DOGE's 12-hour chart is seeing a narrowing Bollinger Bands, a classic setup for a major move.
Trader Javon Marks highlighted that Dogecoin is entering its third major bull cycle, predicting a potential surge of 1,160%, which could send DOGE past $2.28—a more than 12x increase.
Statistics: Shibburn data shows 1.03 billion SHIB was burned in the last 24 hours, pushing the burn rate higher by 8,276.5%.
A single transaction involved the removal of 1 billion SHIB around 20 hours ago, while another transaction saw 23 million coins burned around two hours ago.
Aggressive token burns could imply an upcoming price movement for the meme coin by decreasing supply.
Shibariumscan data shows that daily transactions surged from 784,000 to 1.99 million in just one day, suggesting increased activity on Shiba Inu's Layer-2 network.
IntoTheBlock data signals a short-term slowdown, with Shiba Inu large transaction volume and daily active addresses dropping by 23.3% and 3.6% respectively in a single day.
Transactions greater than $100,000 are down from 29 to 23.
Community News: In a X post on Sunday, Shiba Inu marketing lead Lucie sparked discussions by advocating for a SHIB ETF.
She emphasized SHIB's availability on 110+ exchanges with 212 trading pairs and its decentralized and community-driven nature beyond being a meme coin.
What's Next: With DOGE showing technical strength and SHIB aggressively reducing supply, the meme coin sector could be gearing up for a major move.
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