In recent weeks, both Dogecoin (DOGE/USD) and Shiba Inu (SHIB/USD) have experienced significant declines, each losing approximately 22% over the past month. Despite this downturn, analysts are observing signals of potential accumulation and setups for a rebound, indicating that the current market conditions may not be as dire as they appear.
According to Crypto Zeinab, a prominent trader, Dogecoin is reminiscent of its performance in 2024, currently forming a rounding bottom pattern. A crucial resistance level exists at $0.29; a breakout above this threshold could lead to a price surge similar to the previous rally from $0.18 to $0.49. The formation of a converging triangle suggests that a breakout is imminent, and if historical trends hold, a price target of $0.80 may be attainable by the fourth quarter of 2025.
Another trader, Galaxy, emphasized the cyclical nature of Dogecoin, asserting that the asset is currently in an accumulation phase before the anticipated hype phase returns. Osemka highlighted that Dogecoin has been making higher highs and lows throughout 2025, albeit facing resistance within the $0.25 to $0.26 supply zone. The recent pullback into demand zones, along with increasing trading volumes, could support a continuation of the upward trend if the support levels hold.
“The longer SHIB consolidates, the more powerful the next breakout could be,” noted Crypto Sheriff regarding Shiba Inu. This perspective suggests that the token has the potential to replicate its past explosive price movements.
Recent statistics from Shibburn indicate a remarkable 548.7% increase in Shiba Inu’s burn rate over a 24-hour period, with 1.45 million tokens being destroyed. However, the number of transactions on Shibarium has decreased from 4.69 million to 3.4 million. Notably, there was a spike in new account creations, with 695 new addresses registered on August 20, a substantial increase from just 64 the day before.
Data from Bitinfocharts further illustrates a growth in Dogecoin wallets among both small and large holders, suggesting a rising interest among investors as the market awaits a decision regarding a potential Dogecoin ETF. This sentiment points to a broader trend of accumulating interest in cryptocurrencies, particularly as market conditions evolve.
In conclusion, while both Dogecoin and Shiba Inu have faced notable price declines in the past month, the underlying metrics and trader sentiments indicate potential for recovery. As market dynamics shift and new developments unfold, both assets may see renewed interest and activity among investors.
For further insights on cryptocurrency trends and metrics, visit Benzinga. All information is accurate as of 2025, and Benzinga does not provide investment advice.
