Bitcoin (BTC) has experienced a substantial increase in value, reaching the $56,500 range, indicating a notable rebound in the worldwide cryptocurrency market. The upward trend in the market has had a beneficial effect on almost all crypto, resulting in significant gains across the whole spectrum.
Dogecoin (DOGE) and Shiba Inu (SHIB) have had substantial recoveries following an extended period of decline. DOGE, which experienced a 23% decrease on July 5th, has currently rebounded by 12%, reaching the $0.1097 level once again.
DOGE is now being traded at a price of $0.1091. It has a market capitalization of over $15 billion, which accounts for 0.79% of the total global cryptocurrency market. Nevertheless, the daily trading volume of the asset has experienced over 40% decline, reaching a value of $1 billion.
The hourly chart for DOGE shows a bullish pattern in the simple moving average (SMA) trend, assuming the momentum persists. Shiba Inu token has had a significant increase, with its value jumping by 16.2% from $0.00001355 to $0.00001572.
Additionally, its market capitalization has grown by over 15% to reach over $9 billion. Nevertheless, the daily trading volume of SHIB has experienced a 28% decline, currently amounting to $368 million.