Meme Coins Dogecoin (DOGE) and Shiba Inu (SHIB) Gain Momentum as Bitcoin (BTC) Surges

Meme coin veterans Dogecoin DOGE/USD and Shiba Inu SHIB/USD are gaining momentum on Thursday, fueled by Bitcoin BTC/USD surging above the $96,000 level.

Meme coins Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) are both rallying on Thursday evening.

Bitcoin (CRYPTO: BTC) crossed above the $96,000 level on Thursday evening.

Crypto trader BitGuru highlighted Shiba Inu's bullish momentum after breaking through resistance at $0.00002238, signaling a clear upward trend.

He noted that the recent pullback near $0.00002266 appears temporary, as buyers continue to dominate.

The trader forecasts a surge toward $0.00002280 or higher, with the setup aligning for a sustained breakout.

$SHIB is building strong bullish momentum after breaking resistance at $0.00002238, signaling a clear upward trend. The pullback near $0.00002266 looks temporary, as buyers maintain control.

I'm expecting another surge with the price aiming for $0.00002280 or higher. This setup… pic.twitter.com/9oJ4YCbkyZ

Trader Tardigrade highlighted Dogecoin breaking from a descending triangle, which could prompt an explosive surge.

See More: Live Updates From Benzinga Pro

Shiba Inu Technical Analysis: SHIB is trading above the $0.00002238 level, which has been acting as strong resistance for the past few days.

A clear breakout from this level and a retest of it as support could indicate a bullish trend continuation.

The Relative Strength Index (RSI) is also rising, indicating increasing buying pressure.

crucial Resistance Levels: $0.00002238, $0.00002266, $0.00002280

crucial Support Levels: $0.00002212, $0.00002194, $0.00002166

Shiba Inu Burn Rate Spikes 105.3%

Shiba Inu's burn rate has increased by 105.3%, according to Shibburn.

A large transaction burned 1 million SHIB coins about 21 hours ago.

Shiba Inu's burn rate has shown signs of slowing down recently; however, large burns, such as the one observed today, can significantly impact the overall burn rate.

Shiba Inu Community Highlights

Shiba Inu's burn rate increased by 105.3%, with a large burn noticed about 21 hours ago, removing 1,013,133 $SHIB from circulation.

Keep those candles burning! 😉candle

Shibburn is tracking the SHIB burned throughout the day and updating the total with each newịp.

Shiba Inu's price is displaying mixed signals from market dynamics.

IntoTheBlock data shows a decrease of 23.8% in Shiba Inu's large transaction volume, with transactions greater than $100,000 decreasing from 126 to 105 in a single day.

Additionally, around 43% SHIB holders are currently underwater, while 53% are in profit.

Shibariumscan data shows daily transactions increasing from 4.77 million to 4.78 million in a single day.

Shiba Inu Technical Analysis: SHIB is trading above the $0.00002238 level, which has been acting as strong resistance for the past few days.

A clear breakout from this level and a retest of it as support could indicate a bullish trend continuation.

The RSI is also rising, indicating increasing buying pressure.

crucial Resistance Levels: $0.00002238, $0.00002266, $0.00002280

crucial Support Levels: $0.00002212, $0.00002194, $0.00002166

Dogecoin Technical Analysis: After breaking out from the descending triangle pattern on Wednesday, Dogecoin is continuing to rally.

A strong bullish momentum is evident, and further gains could be expected.

However, keeping an eye on the crucial support and resistance levels is crucial.

crucial Resistance Levels: $0.222, $0.224, $0.226

crucial Support Levels: $0.22, $0.218, $0.216

Dogecoin's open interest is climbing by 11.3% to reach $2.2 billion, while derivatives data volume