Bitcoin Approaches $100K as Shiba Inu Breaks Downtrend and Dogecoin Accumulates
Bitcoin's (BTC) recent price surge has reached over $95,000, marking the highest level since March. This increase follows a bullish trend indicated by crossing above the Ichimoku cloud momentum indicator.
Key points include:
- Consecutive daily candles with long tails indicate a buy-the-dip mentality.
- Five- and 10-day simple moving averages are sloping upward.
- The MACD histogram shows strengthening upward momentum.
- Potential for BTC to reach $100,000, contingent on maintaining support above $88,800.
Memecoin Activity
In light of BTC's performance, trading activity in memecoins has increased. The CoinDesk AI market insight bot reports:
- SHIB has broken out of a year-to-date downtrend, showing bullish technical indicators.
- SHIB's price fluctuated by 15.6%, with strong support at 0.00001225.
- DOGE is experiencing accumulation around 18 cents, having risen over 35% since lows under 13 cents on April 7.
