DOGE and SHIB See Biggest Gains in Top 100 Over Weekend

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In Brief
  • DOGE and SHIB both see double figure gains over the weekend.

  • DOGE soared 16% as SHIB followed with a 10% gain in price on Sunday.

  • The two meme coins see the biggest gains in the top 100 over the weekend.

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Dogecoin (DOGE) and Shiba Inu (SHIB) saw the biggest gains over the weekend as market sentiment appears to have shifted in favor of bullish sentiment.

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Following a weekend that finally saw Bitcoin climb well over $45,000. Altcoins DOGE and SHIB appear to have been the biggest benefactors of the market conditions over the weekend. Bitcoin rallied to a nearly three month high, touching $45,300 on Sunday. 

The surge in bullish momentum spilled over to ethereum, which also saw a nearly three month high, hitting $3,195 on Sunday. The total market capitalization increased to $1.8 trillion as bullish buying saw a majority of the top 100 coins increase in value. 

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However, the most notable gainers over the weekend saw DOGE and SHIB both climb by double figures. At the time of writing, DOGE has jumped 16%, with SHIB also climbing over double figures, gaining 10.3% in price. 

Source: CoinGecko

DOGE has had a tumultuous run since reaching its all-time high of $0.74 on May 8, 2021. However, following a drawn-out correction, a bounce was expected around the $0.15 support level as previously reported.  

DOGE has seen a combined 43% gain since Friday. Climbing from $0.198 as it surged to Sunday’s high of $0.287. DOGE had previously bounced off of its resistance level at $0.16 on July 20. 

Source: Tradingview

SHIB follows its big brother 

The correlation between DOGE and its baby brother coin, SHIB, was evident over the weekend as the meme token followed the price action of DOGE. SHIB also saw a surge in price since Friday. SHIB jumped from $0.00000613 from Friday, up to $0.00000888 on Sunday. Seeing a 45% gain, similar to that of DOGE. 

Source: Tradingview

The recent price action of DOGE finally has no influence from Tesla CEO Elon Musk. Musk had previously added a profile picture of himself on Twitter with the Dogecoin logo in his sunglasses. DOGE climbed 20% from Musk’s profile update. However, this time the project appears to be climbing without any assistance from the DOGE fan. 

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Ryan is a Fintech specialist with a passion for cryptocurrencies and blockchain adoption. A keen trader and investor in the market since 2016, he enjoys keeping up to date with the latest developments within the industry while finding the next 100x altcoin.

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