2 Veteran Meme Coins To Change The Outlook of $1000 Crypto Portfolio
Bitcoin price is settling above the $70,000 mark almost two weeks after dropping to test $60,000 support. The halving in April is helping to keep the crypto market steady, with BTC likely to rise to a new all-time high, targeting the $80,000 level pre-halving. In addition to booking early positions in Bitcoin, investors are also considering strategic altcoins to diversify their crypto portfolios, including leading meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB).
The crypto market boasts hundreds of meme coins, but DOGE and SHIB stand out not only as the biggest in their market capitalizations but also for having the most vibrant communities and ecosystems.
Based on their previous performance during bull markets, investors often diversify their portfolios with Dogecoin and Shiba Inu, ensuring that risk is minimized, as opposed to seeking exposure to newer tokens with no track record.
1. Dogecoin (DOGE)
DOGE, a leading digital currency renowned for its meme origins, has recently experienced a notable appreciation in value. This upturn is part of the broader positive momentum observed in the cryptocurrency sector.
In the last 24 hours alone, Dogecoin’s price soared by 18%, breaching the $0.21 mark for the first time since December 2021. Currently, the Dogecoin price hovers at $0.2124, indicating a growing interest among investors and traders alike.
This resurgence marks a significant departure from the prolonged period of stagnation that Dogecoin faced, hinting at a potential shift towards a long-term positive trend. The anticipation surrounding the upcoming halving event has contributed to this momentum, with many cryptocurrencies experiencing substantial gains since the start of the month.
Over the last month, Dogecoin’s price has skyrocketed by 123%, breaking through several resistance levels and setting the stage for further potential gains. This breakthrough has positioned Dogecoin as one of the standout performers in the market, with a staggering 44% increase in value over the past week.
If DOGE stabilizes above the crucial $0.23 resistance level, it may pave the way for a climb to $0.3 and, potentially, the eagerly awaited $1 mark. This optimistic scenario hinges on Dogecoin’s ability to overcome key resistance levels while sustaining its current momentum.
2. Shiba Inu (SHIB)
SHIB price has been trading in an ascending trend, breaking through critical resistance levels and reaching new heights. At present, the Shiba Inu Coin price is trading at $0.0000319, marking a 7% rise within the last day.
The Shiba Inu Coin currently boasts a market value of $18.76 billion, ranking it as the 11th most valuable cryptocurrency, according to CoinMarketCap. Despite experiencing a slight 2% decrease in its 24 hour trading volume, now at $1.72 billion, the coin continues to draw significant attention from both traders and investors, indicating a strong ongoing interest in its financial journey.
Currently, the Shiba Inu coin faces a critical resistance level at $0.000032. Breaking above this barrier might propel its price towards $0.00004, potentially setting the stage for it to achieve unprecedented heights of $0.01.
However, a downward trend could see the currency falling back to a support level of $0.00003. If the market’s sentiment turns more bearish, SHIB could further decline to $0.00002 and potentially even dip below $0.00001, indicating a challenging period ahead for the cryptocurrency.
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