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

▲ Dogecoin (DOGE), Shiba Inu (SHIB)

Dogecoin (DOGE) has broken through $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 simultaneous upward trend, with investor sentiment recovering rapidly. Specifically, Dogecoin's price surged in a short period, reaching the $0.1 level, driven by buying pressure from the liquidation of short positions.

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

Shiba Inu also joined the upward trend with strengthening technical signals. With a golden cross formed, 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 seen as an instance where technical signals and changes in market structure are combined, going beyond mere speculative movement. Investors are watching closely to see if Dogecoin's breakthrough of a psychological resistance level and Shiba Inu's trend reversal signal will continue.

This trend signals that memecoins are once again emerging as key assets of interest in the cryptocurrency market, serving as an opportunity to reactivate investment strategies that leverage short-term volatility.

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