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Dogecoin (DOGE) and Shiba Inu (SHIB) posted the biggest gains over the weekend as market sentiment appeared to have shifted in favor of bullish sentiment.
After a weekend that finally saw Bitcoin climb well above $ 45,000. The DOGE and SHIB Altcoins appear to have been the biggest benefactors of market conditions over the weekend. Bitcoin hit a nearly three-month high, hitting $ 45,300 on Sunday.
The surge in the bullish momentum spilled over to Ethereum, which also hit an almost three-month high, hitting $ 3,195 on Sunday. The total market cap rose to $ 1.8 trillion as bullish buys saw the majority of the top 100 coins rise in value.
However, the weekend’s most notable winners saw DOGE and SHIB both climb in double digits. As of this writing, DOGE has jumped 16%, with SHIB also climbing double digits, gaining 10.3% in price.
DOGE has had a tumultuous run since it hit its all-time high of $ 0.74 on May 8, 2021. However, after a prolonged correction, a rebound was expected around the support level of $ 0.15 as previously reported.
DOGE has recorded a combined 43% gain since Friday. Amount of $ 0.198 as it hit Sunday’s high of $ 0.287. DOGE had previously rebounded from its resistance level at $ 0.16 on July 20.
SHIB follows his big brother
The correlation between DOGE and its little brother coin, SHIB, was evident over the weekend as the token itself followed DOGE’s price action. SHIB has also seen a price spike since Friday. SHIB went from $ 0.00000613 on Friday to $ 0.00000888 on Sunday. Noting a gain of 45%, similar to that of DOGE.
DOGE’s recent price action ultimately has no influence from Tesla CEO Elon Musk. Musk previously added a profile photo of himself on Twitter with the Dogecoin logo in his sunglasses. DOGE is up 20% since Musk’s profile update. However, this time the project seems to be climbing without any help from the DOGE fan.
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