Crypto Markets Fall, Dogecoin and Shiba Inu Still Bullish Predictions

Cryptocurrency markets including Dogecoin and Shiba Inu have seen significant declines, with massive liquidations and price drops, CryptoPotato reports. However, bullish predictions for cryptocurrencies such as Shibarium, Dogecoin, and Shiba Inu continue due to increased transaction volumes and advancements in network development. The cryptocurrency industry has seen a significant decline over the past few hours, with the market cap falling below $26 billion. Major digital assets such as Bitcoin (BTC) and Ethereum (ETH) also experienced significant declines. This negative trend resulted in the liquidation of over $500 million, mostly in long positions, CryptoPotato reported. The situation is no different in the meme coin space. Dogecoin (DOGE) fell 12% in 24 hours, while Shiba Inu (SHIB) retraced 9%. Still, some metrics related to the largest meme coin by market cap have risen recently. According to IntoTheBlock, DOGE’s average daily trading volume (greater than $100,000 per trade) is approaching $5 billion (a 90% increase compared to data observed on April 1). Daily active addresses also rebounded, growing by nearly 40%. Shiba Inu’s numbers are even more astonishing, with SHIB’s average daily trading volume surging by more than 300%. Recent predictions suggest that both assets will enter a bull market in the near future. Prominent crypto analyst Rekt Capital predicts that DOGE may rise to $0.30 due to the onset of a new “macro trend.” The expert also said that a new all-time high price could be achieved if SHIB surpasses the main resistance level at 0.000033285. X user Captain Faibik also gave a bullish prediction, saying that self-proclaimed Dogecoin killer Shiba Inu is on the verge of a 2x price increase. Successful execution of the burn plan could help Shiba Inu return to green territory. According to CryptoPotato, the Meme coin team burned over 15.5 billion tokens last month (a 2,300% increase compared to February’s figures). Another factor is the development of Shibarium. Last month, the layer-2 scaling solution surpassed 400 million total transaction volume and nearly 1.4 million wallet addresses.