Dogecoin breaks $0.1, Shiba Inu forms a golden cross...Is the memecoin market reviving?

▲ Dogecoin (DOGE), Shiba Inu (SHIB)

Dogecoin (DOGE) has surpassed $0.1 due to a short squeeze, and Shiba Inu (SHIB) has formed a golden cross, indicating a strong upward trend across the memecoin market.

According to U.Today on April 29 (local time), the memecoin market has recently shown a concurrent upward trend, with investor sentiment rapidly recovering. Dogecoin, in particular, saw its price surge in a short period, reaching the $0.1 level due to buying pressure from the liquidation of short positions.

This surge is interpreted as a structural movement triggered by a short squeeze, rather than a simple technical rebound. As short sellers closed their positions, additional buying pressure was generated, which acted as a factor accelerating price increases.

Shiba Inu also joined the upward trend as technical signals strengthened. With the formation of a golden cross, where the short-term moving average crosses above the long-term moving average, the market is placing more weight on the possibility of further gains.

Given the high volatility characteristic of memecoins, rises and falls can repeat quickly. However, this rally is evaluated as a case combining technical signals and market structural changes, rather than a simple speculative movement. Investors are watching to see if Dogecoin's breakthrough of a psychological resistance level and Shiba Inu's trend reversal signals will continue.

This trend indicates that memecoins are once again emerging as key assets of interest in the cryptocurrency market, serving as an opportunity for investment strategies utilizing short-term volatility to be reactivated.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*