Analyst predicts bullish momentum for Shiba Inu, but Dogecoin may dip
Amidst the general slump in the crypto market, memecoins have rallied significantly over the last week.
Both Dogecoin and Shiba Inu have surged over 18% over the last seven days. As per Kraken's price feeds, DOGE and SHIB were trading at $0.202 and $0.0000152 at press time.
While the former recently surpassed Cardano (ADA) to become the 8th largest cryptocurrency with a market capitalization of $30 billion, the latter is the 17th largest cryptocurrency with a market cap of $9 billion.
While the monthly price charts of both the meme coins nearly mirror each other, Intellectia AI — an artificial intelligence (AI)-driven financial intelligence platform — predicts diverging price actions for them during the upcoming month.
The platform predicts that DOGE is expected to slip 11.28% to the $0.155 price range in early April. On the other hand, SHIB is expected to jump over 8.61% to hit the $0.0000143 mark in early April.
Intellectia AI founder and CEO Fei Chen said, 'While Dogecoin continues to dominate in community activity, it's showing weaker short-term fundamentals. On the other hand, SHIB is demonstrating stronger technical signals, especially with utility growth via Shibarium and its DeFi ecosystem.'
In fact, SHIB is at its highest price within a month, and its impressive burn rates have already created buzz.
Other meme coins have also seen a reversal in their fortunes recently. Pepe has soared over 20% within a week to $0.058927. Bok has risen over 35% within a week to $0.00001479.
Fartcoin and SPX6900 have surged 84% and 63% respectively and were trading at $0.6096 and $0.6468 at press time.
Disclaimer: The content above is intended for informational purposes only and should not be taken as financial advice. Do your own research before investing.
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