Recent on-chain data indicates that leading meme coins like Dogecoin, Shiba Inu, and others are poised to rally in the coming days, sparking market optimism. IntoTheBlock has highlighted a trend suggesting that investors have yet to fully enter the crypto space, especially in the meme coin segment, which could lead to further rallies. With Dogecoin and Shiba Inu recording significant gains in recent months, there is a positive sentiment in the market. Despite rising market caps, meme coin activity remains lower than previous peaks, indicating that retail investors are still hesitant to re-engage with the market.
The divergence between meme coin activity and price surge suggests that top meme coins like DOGE, SHIB, and others could rally further as retail enthusiasm drives trading volumes higher. The bullish outlook for these tokens is fueled by growing confidence in the broader cryptocurrency market after Donald Trump’s election win. If retail investors increase their participation, DOGE and SHIB prices may climb to new heights alongside Bitcoin in another parabolic run. Dogecoin’s role as a pioneer in the meme coin space and Shiba Inu’s ecosystem developments position both tokens as favorites for another rally.
Analysts believe that the combination of untapped retail interest and growing market confidence could sustain the upward momentum for DOGE and SHIB. Dogecoin whales are on a buying spree, with predictions of the crypto hitting $2.40 in the coming days and potentially reaching $18. However, despite the optimism, the current trend shows a slight pause in investor activity. Dogecoin’s price today was down nearly 1.5%, trading at $0.3903, with a trading volume of $10.91 billion. Despite this, a recent analysis suggests a potential 5100% rally for DOGE, boosting market optimism.
Shiba Inu follows a similar path, with a decline of nearly 3% in price to $0.00002446, and a trading volume increase of 20% to $1.51 billion. A recent analysis indicates a potential rally for SHIB to $1 in the coming days. The withdrawal of 1.67 trillion SHIB from exchanges in the last 24 hours points towards strong market confidence in the crypto. The Shiba Inu burn rate has also seen a significant spike recently, indicating reduced supply in the market, which could push the asset’s prices higher.
Overall, the market sentiment for meme coins like Dogecoin and Shiba Inu is optimistic, with on-chain data suggesting potential rallies ahead. Retail investors are expected to increase their participation, further driving trading volumes higher. With growing confidence in the broader cryptocurrency market, meme coins like DOGE and SHIB could see sustained upward momentum in the coming days. As investor interest continues to grow, the prices of these top meme coins may reach new highs, marking another successful run in the market.
