DOGE and SHIB price rallied along with the overall market momentum led by Bitcoin. At the same time, the correlation observed in the price of the two memecoins became evident and investors are still in profit despite the decline. Along with the price estimates of Analisdollarserin and experts, the details are as follows…
GIOM data shows DOGE investors are profiting now
Both memecoins witnessed a surge in momentum over the weekend. Gains were made, supporting the bullish expectation of traders and investors. Dogecoin is 18% in the last 7 days. 9 managed to make a comeback, with blockchain analytics firm IntoTheBlock noting to DOGE that the GIOM indicator, which their holders use to determine whether they are profitable at the current price level, is currently in the profits of 66% of wallets. This rate, which came out in the time frame when the current DOGE price was $0.24, means an increase for its investors. The result is as follows:
Investors are positive for Shiba Inu (SHIB)
On the other hand, the popular memecoin SHIB, also known as “Dogekiller,” continued to rise, similar to DOGE investors. 21% since last week. It is up 3 and is trading 80% below its ATH of $0.0000388. Meanwhile, traders’ bullish expectation continues due to the growing correlation between the two memecoins.
Ahead of the recent price rally at DOGE and SHIB, a panel of cryptocurrency experts predicted that DOGE could reach $0.42 (a 60% increase from the current price level) by the end of 2021. Finder, a price comparison website, asked 42 cryptocurrency experts and academics in its survey about what levels the DOGE price could reach in the future. Forrest Przybysz, a cryptocurrency investment analyst and panel member, noted:
I would expect DOGE to grow with the rest of the rapidly growing crypto market, but there will likely be long-term fixed price movements followed by violent speculative pumps as we have seen in the past.
Meanwhile, according to the survey, experts stated that they have seen Dogecoin reach $1.21 by 2025 and $3.60 by 2030. On the other hand, there were divergent opinions from experts such as John Hawkins, a senior lecturer at the University of Canberra, who thought DOGE would be worth $0.15 by the end of 2021. Hawkins explained the price prediction he predicted for 2030 as follows:
Dogecoin seems heavily dependent on Elon Musk’s erratic tweets.
However, the average price predictions of the participants are towards the DOGE price rally to $0.42 before the end of 2021. Popular Twitter accounts like Luke Martin, host of the “The Coinist” podcast, recently tweeted that they expected a bullish prospect for DOGE: