Dogecoin (DOGE) and Shiba Inu (SHIB) both saw sharp rallies, fueled by heavy trading volume and speculation around potential U.S. ETF approvals, suggesting aggressive institutional positioning within the meme-coin sector.
MemeCoin Price Action Summary
- DOGE Rips Higher: Dogecoin surged 8.8% in 24 hours, climbing from $0.23 to a session high of $0.254. The move was driven by over one billion tokens traded(four times the average turnover).
- New Support: Following a breakout, support for DOGE has reset to $0.242.
- Key Resistance: Resistance is now hardened at the $0.254–$0.255 zone.
- SHIB Rallies in Parallel: Shiba Inu gained 6.2% during the same period, supported by record-high token turnover.
- Supply Squeeze: Traders noted SHIB's strength was underpinned by exchange balances hitting two-year lows, indicating a reduction in available supply and institutional accumulation.
Technical Outlook and Catalysts
The price action for DOGE has formed an ascending triangle, validated by higher lows and sustained volume. Technical analysts are watching for a decisive move:
- Bullish Target: A definitive break above the $0.255 resistance level is flagged as opening a path for DOGE to target $0.32.
- The Catalyst: The primary driver for this potential upward move is anticipated to be continued ETF-driven flows and aggressive bidding interest.
Traders are now focused on whether DOGE can flip $0.25 into firm support and if the ongoing SHIB exchange supply squeeze will provide a further tailwind for the broader meme-coin rotation.
October 2025, Cryptoniteuae