Today, the cryptocurrency market is showing signs of consolidation in preparation for a potential upward movement. Notably, cryptocurrencies like Dogecoin and Shiba Inu are indicating a possible breakout rally. Renowned cryptocurrency analyst Michael van de Poppe is optimistic, suggesting that the initial stage of the bull cycle could lead to a promising weekend for crypto enthusiasts.

Michael van de Poppe, a well-known figure in the crypto analysis world, commented that the market is performing well, especially over the weekend. He believes that we are at the beginning of a bull cycle which could soon turn into a dynamic and exciting phase, altering the current patterns of crypto trading. Despite a current shortage in market liquidity, he notes that the market is still resilient.

Another crypto analyst, Rekt Capital, has offered insights specifically on Dogecoin (DOGE) and Shiba Inu (SHIB). According to Rekt Capital, Dogecoin has successfully retested its position and is well-positioned for a breakout from its current trading channel. Recently, these coins have been attracting attention with significant activities, including whale alerts and upward price movements.

Over the past 24 hours, Dogecoin's value increased by 9%, with its current trading price at around $0.80. The coin's price fluctuated between a 24-hour low of $0.073 and a high of $0.081. Additionally, there's been an 18% increase in trading volume in the last day, signaling growing trader interest.

Shiba Inu also experienced a notable surge, increasing by 15% after retesting its support level at $0.0000080. Rekt Capital anticipates a rally for SHIB, potentially surpassing the $0.00001 mark. However, it must first surpass the $0.0000093 level to maintain its upward trajectory.

In the last 24 hours, SHIB's price rose by 13%, currently trading at $0.0000092. The coin's value ranged from a low of $0.00000815 to a high of $0.0000095 within the same period. Furthermore, there's been an 81% increase in trading volume, indicating heightened interest among traders.