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DOGE days of summer: Shiba Inu gains 40% on Dogecoin two months after record lows

Published 07/08/2022, 06:16 AM
Updated 07/09/2022, 08:20 AM
DOGE days of summer: Shiba Inu gains 40% on Dogecoin two months after record lows
DOGE/USD
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SHIB/USD
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Shiba Inu (SHIB) has grown stronger against its top "memecoin" rival Dogecoin (DOGE) in the last two months, in part due to the token's periodic token burning events and a flurry of project announcements that promises to boost its utility.

In detail, SHIB/DOGE gained a little over 40% after bouncing from 0.0001120 on May 12, its lowest level on record.

SHIB/USD four-hour price chart. Source: TradingView
Shiba Inu supply. Source: ShibBurn.com
SHIB/USD versus DOGE/USD daily price chart. Source: TradingView
ShibaSwap trading volume. Source: Nomics.com
SHIB/DOGE daily price chart featuring 'rising wedge' breakdown setup. Source: TradingView

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