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

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.

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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