Dogecoin and Shiba Inu trading volumes were paddled, but the possibility of a correction remains imminent. SHIB trading volume reached $1.5 billion on the day it was listed on the world’s second largest exchange. Details Cryptocoin. com.

SHIB and DOGE analysis

Dogecoin (DOGE) trading volume increased in response to Elon Musk’s tweet and the bullish trend of traders. Dogecoin and Shiba Inu price have yet to recover after the drop recorded on September 7. Dogecoin and Shiba Inu price dropped after on-chain activity for Shiba-Inu-themed memecoins reached a high level. According to analyst Ekta Mourya, there are those who think that the price of the Shiba Inu will drop even more. Dogecoin price has yet to recover after the September 7 crash and the altcoin project has lost 23% last week. Dogecoin Foundation advisor and tech billionaire Elon Musk has sparked a surge in trading volume for two Shiba-Inu-themed cryptocurrencies.

Historically, Musk’s tweets have had an impact on investor and trader sentiment towards DOGE and SHIB. Cryptocurrency trader and analyst @itsALLrisky summarizes Musk’s influence on Dogecoin price in his latest tweet.

https://twitter. com/itsALLrisky/status/1437230499294900226

Ethereum influence on Dogecoin

Tesla CEO Elon Musk recently tweeted a picture of “Floki,” a Shiba Inu like the original Dogecoin dog “Kabosu.” This instantly caught the attention of the mainstream media; DOGE investors witnessed an increase in trading volume on spot exchanges. In the SHIB example, listing on Coinbase Pro resulted in a huge spike in trading volume. Over 1.5 billion dollars of SHIB tokens were traded and reached an all-time high in trading volume. Despite a rally, Shiba Inu price failed to recover to pre-collapse levels, and a bearish reversal created a pause in the upward climb.

The development updates proposed by Vitalik Buterin, who is also a consultant to the Dogecoin Foundation, are expected to positively impact the price of the altcoin project. According to the analyst, Dogecoin price may be subject to further consolidation until the Doge-Ethereum bridge is launched. FXStreet analisdollarseries evaluated the Shiba Inu and predicted a 10% correction as the SHIB has no momentum.

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Michael Lewis


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