Shiba Inu Shakes Off Bearish Chains as Bitcoin Charges Toward $100K—Dogecoin Whales Stack at 18¢

Shiba Inu finally snaps its downtrend—just as Bitcoin gathers momentum for a potential six-figure surge. Meanwhile, Dogecoin sees heavy accumulation at the 18-cent level, signaling traders might be betting on a meme coin revival.

Bitcoin’s bullish momentum could drag the entire crypto market up with it, though let’s be real—Wall Street will still find a way to call it ‘speculative’ while quietly hoarding bags.

Supporting the constructive outlook are the consecutive daily candles with long tails (marked by box), suggestive of buy the dip mentality, and the upward-sloping five- and 10-day simple moving averages (SMA). Additionally, the daily chart MACD histogram prints higher bars above the zero line to suggest strengthening upward momentum.

In other words, the path of least resistance is likely on the higher side, hinting at a continued move higher to $100,000, which is also the most popular call option strike on Deribit. The bullish outlook risks negation below $88,800, the former resistance-turned-support.

Amid this bullish backdrop for bitcoin, the CoinDesk AI market insight bot has identified a breakout in SHIB, the world’s second-largest meme coin, suggesting increased risk-taking in the broader crypto market.

"Bitcoin’s rise above $92K has triggered increased memecoin trading, with SHIB breaking out of a year-to-date falling channel and showing bullish technical indicators, " the bot said. "SHIB has demonstrated exceptional volatility with a 15.6% price fluctuation, establishing strong support at 0.00001225 after bottoming on April 21."

The chart shows that SHIB has topped the trendline, characterizing the year-to-date downtrend and is looking to establish a foothold above the Ichimoku cloud, following BTC’s lead. That would confirm the trend reversal higher.

Meanwhile, DOGE, the world’s leading cryptocurrency by market value, could soon follow suit, with the AI bot pointing to investor accumulation at around 18 cents.

"Recent price action shows consolidation above 0.180 with decreasing volatility, suggesting accumulation before [bullish] continuation," the bot said.

DOGE has risen over 35% since probing lows under 13 cents on April 7.