Dogecoin (DOGE) enters the top 5 most profitable assets in the last 24 hours

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  • Outbreak everyone has been waiting for
  • Dogecoin’s biggest rival

The largest memecoin on the market, Dogecoin, entered the top 5 most profitable digital assets from CoinMarketCap’s Top 100, followed by another token, Shiba Inu, which surged ‌higher.

Outbreak everyone has been waiting for

As we have mentioned multiple times in U.Today articles, both Shiba Inu and Dogecoin were on the verge of a breakout or at least a spike in volatility in both directions as they have shown extremely weak performance over the past 30 trading days.

Source: Dogecoin

On August 14, DOGE successfully broke the symmetrical triangle that acted as a consolidation range for the coin, which has failed to show us any decent price action over the past few months.

In the medium or long term, there is no resistance that could stop Dogecoin from continuing higher unless the rally dies down due to the lack of trading volume, which remains at relatively low levels compared to bull market values.

To sue

Dogecoin’s biggest rival

When Shiba Inu launched, we saw a split in the memecoin industry as some preferred the old classic and others chose exposure to extremely volatile and risky SHIB tokens.

Today, the token’s volatility has dropped to an average level that exceeds that of Dogecoin. In the last 24 hours, Shiba Inu has gained more than 22% in value, becoming one of the best-performing assets in the cryptocurrency market.

The main question for investors now is how long will this rally last as we are yet to see an increase in trading volume or market inflows and a reversal is more than possible once the weekend trading session is over?

About Veronica Richards

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