 
 
Tesla CEO Elon Musk lately interviewed Republican Presidential Contender Donald Trump on X, a transfer that might spell main good points for canine-themed meme cash such as Dogecoin and Shiba Inu.
Musk has beforehand expressed his assist for the largest meme coin, DOGE. Furthermore, Tesla accepts payments for choose merchandise utilizing the meme coin.
On the different hand, Trump, in his pursuit of securing crypto votes, has turned out to be pro-crypto. As ZyCrypto reported, at the Bitcoin 2024 convention, the former US President pledged to set pleasant rules for the trade if elected in November.
How Excessive Can DOGE Rally?
In the final 24 hours, DOGE has dropped by 1.2% to commerce at $0.106 at the time of writing. Nevertheless, after recovering from the August 5 lows, DOGE has elevated by 27% in the final seven days.
Analyst Kevin on X says that DOGE might kind a golden cross in the coming weeks earlier than the worth explodes. Nevertheless, the optimistic worth motion will largely rely upon Bitcoin’s efficiency.
 
“Dogecoin remains to be buying and selling on this falling channel on the weekly, and we have now a pending weekly golden cross coming inside weeks. I believe one thing large is coming quickly. Simply want BTC to cooperate,” the analyst mentioned.
Knowledge from CoinMarketCap means that merchants could possibly be taking positions anticipating additional tailwinds. Buying and selling volumes have soared by 37%, hinting in direction of doable shopping for exercise.
Futures buying and selling exercise additionally reveals excessive investor curiosity in DOGE. Open Curiosity has elevated by 3% to $480M at the time of writing per Coinglass. Funding charges have additionally flipped optimistic, pointing in direction of a rise in lengthy positions as merchants guess on the worth enhance.
Shopping for Exercise Poised To Drive Additional SHIB Positive aspects
In accordance with CoinMarketCap knowledge, Shiba Inu can also be recording an uptick in exercise, with buying and selling volumes leaping by round 33% in the final 24 hours.
The SHIB Relative Energy Index (RSI) has bounced from 42 to 52, exhibiting patrons coming into the market and rising momentum. The Transferring Common Convergence Divergence (MACD) line has additionally shifted above the sign line, indicating a bullish development.
In accordance with dealer 0xKrisfi on X, the SHIB worth might quickly see an enormous upswing, hovering by over 150%.
