Dogecoin Flashes Buy Signal As Shiba Inu Burn Rate Surges 674% — What’s Next?

Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) are down around 10% over the past week as traders try to identify what could end the downturn.

CryptocurrencyTickerPriceMarket Cap7-Day TrendDogecoin(CRYPTO: DOGE)$0.1630$24.7 billion-13.6%Shiba Inu(CRYPTO: SHIB)$0.059007$5.3 billion-9.5%Pepe(CRYPTO: PEPE)$0.055620$2.4 billion-16.7%

Trader Notes:  Crypto chart analyst Ali Martinez flagged a TD Sequential buy signal on Dogecoin, hinting at a potential local bottom.

NekoZ noted DOGE is sitting at the lower support of a large weekly symmetrical triangle, near its apex, a setup often followed by major volatility. A breakout above the upper trendline could target $0.35, marking a new bullish impulse.

Statistics: Shibburn data shows SHIB’s burn rate spiked 674.3%, with 12.15 million SHIB permanently removed from circulation in the last 24 hours.

However, this hasn’t translated into price gains as Shibarium activity continues to slide, daily transactions now hover around 1,500, down sharply from the 4 million seen a few months ago.

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