As Bitcoin Targets $100K, Shiba Inu Surges Beyond Year-to-Date Downtrend While Dogecoin Experiences Accumulation Near 18 Cents

Bitcoin (BTC) has recently begun a notable upward trend, potentially paving the way for a price surge that could reach six figures. This resurgence is stimulating active trading within the memecoin market, particularly with DOGE and SHIB experiencing a surge in interest.

The leading cryptocurrency, BTC, briefly crossed the $95,000 mark, reflecting its highest value since early March. This rise followed a significant market shift, occurring shortly after prices surpassed the Ichimoku cloud momentum indicator, indicating a favorable trend for traders.

The constructive outlook is reinforced by a series of daily candles featuring extended tails, indicative of a “buy the dip” sentiment. Additionally, the five- and ten-day simple moving averages are trending upwards. The MACD histogram on the daily chart also reflects increasing bars above the zero line, signaling a strengthening upward momentum.

This suggests that the market may continue to move towards higher levels, with a target of $100,000, which has become a popular strike price in current trading options. However, caution is warranted, as any decline below $88,800 could invalidate this bullish trend.

AI Insights on SHIB and DOGE

In light of this optimistic scenario for Bitcoin, the market analysis AI has observed a breakout in SHIB, the second-largest memecoin, indicating a renewed appetite for risk across the cryptocurrency landscape.

“The recent surge in Bitcoin past $92K has sparked increased trading in memecoins, with SHIB breaking free from a downward trend established earlier this year and exhibiting bullish technical patterns,” noted the AI. “SHIB has shown significant price volatility, with a fluctuation of 15.6%, and has established solid support at 0.00001225 after reaching a low on April 21.”

The chart indicates that SHIB has overcome its downward trendline and seeks to establish stability above the Ichimoku cloud, following Bitcoin’s upward movement. This would confirm a reversal of the previous trend.

Meanwhile, DOGE, the top memecoin by market capitalization, appears poised to follow a similar trajectory, as the AI indicates increasing accumulation around the 18-cent mark.

“Recent price movements show consolidation above 0.180 with dwindling volatility, suggesting accumulation before a potential bullish continuation,” the AI observed.

Since hitting lows below 13 cents on April 7, DOGE has surged over 35%.