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There is an expected significant increase in the values of Shiba Inu and Dogecoin in the month of June.

As June begins, many are closely watching meme coins Shiba Inu and Dogecoin in the cryptocurrency market. These coins have garnered the interest of both investors and enthusiasts due to their unpredictable price fluctuations and active communities. With the start of a new month, there is much speculation about the potential for a strong rally for these digital assets in June.

Various factors, including market sentiment, recent developments, and broader economic trends, could play crucial roles in shaping their prices. In this article, we explore the potential catalysts and market dynamics that might drive Shiba Inu and Dogecoin to new heights in the coming weeks. Investors have recently turned their attention to coins in the meme coin domain. The factors driving this move hinge on the ability of digital assets to achieve between 10x and 100x returns within a short period.

Shiba Inu (SHIB) Analysis

The current price of Shiba Inu (SHIB) is $0.00002531, with a 24-hour trading volume of $273,904,355.90. This indicates a 1.03% increase in price over the past 24 hours, and a 2.17% increase over the last 7 days. Shiba Inu’s market capitalization is $14,910,662,307, based on a circulating supply of 590 trillion SHIB. The SHIB price has recently been following an ascending triangle pattern and is close to reaching its peak. The Open Interest for SHIB has decreased by 3.58%, with a value of $59.4 million.

Investors’ interest and accumulation can be seen in ascending triangles, where the upper levels stay consistent while the lower levels increase. If this trend continues, Shiba Inu may experience a 32% increase in value to approximately $0.000036. Despite this, investors continue to have faith in Shiba Inu, with Coingecko data indicating that 72% of users are optimistically invested, compared to 28% who are pessimistic. As the SHIB price rises, it may encounter obstacles at important resistance levels including $0.000029, $0.000036, and $0.000041.

On the other hand, there is a solid foundation of support surrounding the current price of $0.000025, potentially stabilizing the price. The value of Shiba Inu remains strong due to its large community and popularity as a meme coin. On May 30, 2024, Coinbase Futures will add SHIB perpetual futures trading to its platform. Despite its origins as a meme, Shiba Inu has proven to be a resilient cryptocurrency in the midst of fluctuating market conditions.

Dogecoin (DOGE) Analysis

As of today, the value of Dogecoin (DOGE) is $0.1598. In the previous 24 hours, the trading volume was $542,675,879.61, resulting in a 2.52% increase in price. However, in the last 7 days, the price has decreased by -4.31%. With a circulating supply of 140 billion DOGE, the market cap for Dogecoin is $23,101,130,581. On June 1, the price of Dogecoin reached its highest point of $0.16. The Open Interest for Dogecoin (DOGE) has risen by 0.28%, now valued at $791.2 Million.

Based on the $208 million profit made by miners in May 2024, DOGE value may potentially increase by 30% and surpass the $0.20 mark in the coming days. In addition, IntoTheBlock’s GIOM information indicates that the next significant barrier for Dogecoin is at $0.18.