Shiba Inu Breaks Free From Downtrend as Bitcoin Eyes $100K, Dogecoin Sees Accumulation Around 18 Cents

BTC $ 94,581.54 + 1.95 % ETH $ 1,774.02 + 1.26 % USDT $ 1.0004 + 0.01 % XRP $ 2.1932 + 0.55 % BNB $ 603.82 + 1.11 % SOL $ 153.75 + 3.50 % USDC $ 0.9998 - 0.00 % DOGE $ 0.1810 + 3.91 % ADA $ 0.7132 + 2.45 % TRX $ 0.2431 - 0.99 % SUI $ 3.6946 + 21.38 % LINK $ 15.00 + 3.33 % AVAX $ 22.31 + 1.54 % XLM $ 0.2844 + 6.21 % LEO $ 9.0377 - 2.01 % HBAR $ 0.1975 + 8.28 % SHIB $ 0.0₄1397 + 5.20 % TON $ 3.2038 + 2.72 % BCH $ 369.93 + 6.28 % LTC $ 85.78 + 5.16 % News Back to menu News Markets Finance Tech Policy Focus Prices Back to menu Prices Data Back to menu Data Trade Data Derivatives Order Book Data On-Chain Data API Research & Insights Data Catalogue AI & Machine Learning Indices Back to menu Indices Multi-Asset Indices Reference Rates Strategies and Services API Insights & Announcements Documentation & Governance Research Back to menu Research Consensus Back to menu Consensus Consensus Toronto Toronto Coverage Sponsored Back to menu Sponsored Thought Leadership Press Releases CoinW MEXC Phemex Advertise Videos Back to menu Videos CoinDesk Daily Shorts Editor's Picks Podcasts Back to menu Podcasts CoinDesk Podcast Network Markets Daily Gen C Unchained with Laura Shin The Mining Pod Newsletters Back to menu Newsletters The Node Crypto Daybook Americas State of Crypto Crypto Long & Short Crypto for Advisors Webinars & Events Back to menu Webinars & Events Consensus 2025 Policy & Regulation Conference English Select Language English en Español es Filipino fil Français fr Italiano it Português pt-br Русский ru Українська uk News Prices Data Indices Research Consensus Sponsored Sign In Sign Up Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Shiba Inu Breaks Free From Downtrend as Bitcoin Eyes $100K, Dogecoin Sees Accumulation Around 18 Cents Check what HUMINT and TECHINT has to say about the price trajectory of BTC and major meme coins. By Omkar Godbole | Edited by Parikshit Mishra Updated Apr 25, 2025, 1:05 p.m. Published Apr 25, 2025, 1:03 p.m. CoinDesk's Market bot points to SHIB breakout amid BTC rally. What to know : Bitcoin's price briefly surpassed $95,000, marking its highest level since March, and signaling a bullish market trend. Increased trading activity in the memecoin sector has been observed, with SHIB and DOGE showing strong bullish indicators, per CoinDesk's market insights bot. SHIB has broken out of a downtrend and is establishing support, while DOGE is seeing investor accumulation, the bot said. Bitcoin's (BTC) recent uptrend has likely set the stage for a six-figure price mark, catalyzing increased trading activity in the memecoin sector, where DOGE and SHIB are seeing bullish activity. BTC, the leading cryptocurrency by market value, briefly topped $95,000 soon before press time, the highest since March 2, CoinDesk data show. The move comes three days after prices crossed above the Ichimoku cloud momentum indicator, signaling a bullish shift in the market trend. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . BTC's daily chart. (TradingView/CoinDesk) Supporting the constructive outlook are the consecutive daily candles with long tails (marked by box), suggestive of buy the dip mentality, and the upward-sloping five- and 10-day simple moving averages (SMA). Additionally, the daily chart MACD histogram prints higher bars above the zero line to suggest strengthening upward momentum. In other words, the path of least resistance is likely on the higher side, hinting at a continued move higher to $100,000, which is also the most popular call option strike on Deribit. The bullish outlook risks negation below $88,800, the former resistance-turned-support. AI's take on SHIB and DOGE Amid this bullish backdrop for bitcoin, the CoinDesk AI market insight bot has identified a breakout in SHIB, the world's second-largest meme coin, suggesting increased risk-taking in the broader crypto market. "Bitcoin's rise above $92K has triggered increased memecoin trading, with SHIB breaking out of a year-to-date falling channel and showing bullish technical indicators, " the bot said. "SHIB has demonstrated exceptional volatility with a 15.6% price fluctuation, establishing strong support at 0.00001225 after bottoming on April 21." SHIB's daily price chart. (TradingView/CoinDesk) The chart shows that SHIB has topped the trendline, characterizing the year-to-date downtrend and is looking to establish a foothold above the Ichimoku cloud, following BTC's lead. That would confirm the trend reversal higher. Meanwhile, DOGE, the world's leading cryptocurrency by market value, could soon follow suit, with the AI bot pointing to investor accumulation at around 18 cents. "Recent price action shows consolidation above 0.180 with decreasing volatility, suggesting accumulation before [bullish] continuation," the bot said. DOGE has risen over 35% since probing lows under 13 cents on April 7. Bitcoin Markets SHIB DOGE Top Stories Omkar Godbole Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team based in Mumbai, holds a masters degree in Finance and a Chartered Market Technician (CMT) member. Omkar previously worked at FXStreet, writing research on currency markets and as fundamental analyst at currency and commodities desk at Mumbai-based brokerage houses. Omkar holds small amounts of bitcoin, ether, BitTorrent, tron and dot. 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