The launch of the REX-Osprey DOGE ETF marks an important event in the cryptocurrency market, driving interest and changes in prices, particularly for Dogecoin and Shiba Inu.
How Is Dogecoin Performing With the New ETF?
Dogecoin has seen a notable surge, climbing over 15% last week to reach $0.2494, with intraday trading peaking at $0.253. Market participants are eyeing the $0.2680 level closely. However, trading volume is down by more than 11% to $3.24 billion, a crucial factor for price fluctuations. The ETF’s launch aims to broaden Dogecoin’s accessibility, potentially increasing trading volume. Previously, Dogecoin shot up to $0.4672 in December 2024 and hit a record high of $0.7376 in May 2021. Market observers eagerly anticipate the influence of the ETF on Dogecoin’s valuation.
What’s Next for Shiba Inu’s Price Movement?
Shiba Inu has experienced a 1.53% rise in the past 24 hours, with its value reaching $0.00001310. Currently, it challenges resistance at $0.00001320 on the hourly chart and might target $0.00001350 if it breaks through. Over the medium term, SHIB is trading between significant support and resistance levels. It is likely to oscillate in the $0.00001250 to $0.00001350 range, and its ability to maintain this bracket will become clearer soon.
Key Conclusions and Observations
Noteworthy conclusions reveal:
* Dogecoin’s price rise aligns with the ETF introduction. * Trading volume decreases may affect Dogecoin’s future price surges. * Shiba Inu faces immediate resistance, with room for upward movement if surpassed.
The introduction of the DOGE ETF and the active monitoring of Shiba Inu’s resistance levels underscore a dynamic shift in cryptocurrency trading interest. Investors are gearing up to see how these instruments influence the broader market landscape.
