Elon’s Twitter Acquisition Has Pumped DOGE by 40+% This Week

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• DOGE is currently trading at $0.08534 after gaining 14.54%.
• SHIB is trading at $0.00001164 after a 10.82% gain over the last 24 hours.
• There is still momentum left for DOGE to continue its pump.

It has been a good week for the biggest meme coins by market cap, Dogecoin (DOGE) and Shiba Inu (SHIB), as both coins have printed decent gains over the last 7 days.

According to the crypto market tracking website, CoinMarketCap, DOGE is trading at $0.08534 at press time after its price rose 14.54% over the last 24 hours. This has added to the phenomenal price movement of the meme coin, currently ranked as the 10th biggest crypto by market cap, as its price is also up 44% for the week.

BTC and SHIB price and volume chart (Source: Santiment)

In addition, data from the blockchain intelligence firm, Santiment, shows that the DOGE/BTC Price Ratio is the highest it’s been since January this year.

Looking at SHIB, it is currently trading at $0.00001164 after its price also rose more than 10% over the last 24 hours. At press time, the price of SHIB is up 10.82%, which has taken its total weekly gain so far to 16.82%. SHIB is currently ranked just 3 positions below DOGE on CoinMarketCap’s list of crypto projects with the biggest market cap.

DOGE/USDT daily chart (Source: CoinMarketCap)

The daily chart for DOGE remains bullish and shows that there is still momentum left to support a continuation of this move. Two indicators that are bullish flags on DOGE’s charts are the 9 EMA line crossing bullishly above the 20 EMA line, and the MACD line crossing bullishly above the MACD signal line.

In addition to these lines crossing, the 9 EMA is breaking further away from the 20 EMA line and the same can be seen in the MACD and MACD signal lines, as the gap between the two lines increases.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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