Shiba Inu Sees Mixed Performance, Dogwifhat Rises Sharply

• Santiment reports Shiba Inu and Dogwifhat trending with rising volumes.
• Trade Alerts notes potential price paths for WIF on technical analysis.
• Shiba Inu at $0.00002649, Dogwifhat at $3.51 as per CoinGecko analysis.

Notable fluctuations have been observed in meme-based digital assets, particularly Shiba Inu and Dogwifhat. Insights from market intelligence platform Santiment and additional analysis by Trade Alerts help shed light on the current dynamics and future possibilities of these popular tokens.

As of press time, Shiba Inu (SHIB) has seen a price decrease of 6% over the last 24 hours, settling at $0.00002649, as reported by CoinGecko. Despite this short-term decline, the token has posted a 4.1% increase over the past seven days. Its substantial trading volume, which reached $1,571,887,331.97 during this period, highlights the robust market activity surrounding this token. Shiba Inu boasts a market cap of approximately $16.35 billion, reflecting its significant circulation of 590 trillion tokens.

Further analysis provided by Trade Alerts focuses on the technical aspects affecting these tokens. For instance, a post from the “Trade Alerts, Trade Ideas and Crypto” account highlights ongoing technical analysis on the trading pair GATEIO, suggesting potential upward and downward price movements for WIF. The analysis includes trend lines and horizontal support and resistance levels, offering traders insights into possible future directions based on current market conditions.

Dogwifhat, referred to by its ticker WIF, is priced at $3.51 at press time, representing a 10.3% drop within the last 24 hours. However, like SHIB, WIF has experienced a notable 16.1% rise over the previous week. With a trading volume of $811,543,771.27, and a circulating supply of 1 billion WIF tokens, Dogwifhat’s market cap stands at about $3.74 billion.

Both Santiment and Trade Alerts note that meme coins continue to attract significant attention from traders. The often volatile price movements of these tokens frequently lead to sharp “Fear of Missing Out” (FOMO) peaks and “Fear, Uncertainty, and Doubt” (FUD) troughs. This pattern is indicative of the speculative nature inherent in trading such assets