Bitcoin prices surged above $95,000 for the first time since March 2, signaling a shift in market sentiment towards a bullish trend. The recent price increase has sparked increased trading activity in the memecoin sector, particularly among SHIB and DOGE, which are showing strong bullish indicators.
SHIB (Shiba Inu) has broken out of its downtrend, establishing support at $0.00001225, while DOGE (Dogecoin) is seeing investor accumulation around 18 cents. The CoinDesk AI market insight bot attributes the recent price action to increased risk-taking in the broader crypto market.
The AI bot notes that SHIB’s rise above $92K has triggered increased memecoin trading, with the coin breaking out of a year-to-date falling channel and demonstrating bullish technical indicators. DOGE is expected to follow suit, with investor accumulation at around 18 cents indicating a potential continuation of the bullish trend.
Bitcoin’s recent uptrend is supported by consecutive daily candles with long tails and upward-sloping simple moving averages, suggesting strengthening upward momentum. The path of least resistance appears on the higher side, hinting at a continued move towards $100,000.
Source: https://www.coindesk.com/markets/2025/04/25/shiba-inu-breaks-free-from-downtrend-dogecoin-sees-accumulation-around-18-cents