Shiba Inu Breaks Downtrend As Bitcoin Moves Towards $100K, Dogecoin Shows Gains Near 18 Cents

Find out what HUMINT and TECHINT have to say about the future of BTC prices and major meme coins.

Omkar Godbole, AI Boost | Edited by Parikshit Mishra Updated April 25, 2025, 4:02 PM Published April 25, 2025, 1:03 PM

What to consider:

• Bitcoin price briefly exceeded $95,000, setting its highest level since March, indicating an upward trend in the market.
• According to CoinDesk's market analysis bot, trading activity in the memecoin segment is on the rise, with SHIB and DOGE showing strong bullish signals.
• The bot notified that SHIB has broken out of the downtrend and is forming a support level, while DOGE is showing accumulation from investors.

The recent rise in Bitcoin (BTC) has likely set the stage for a six-figure price move, which in turn has become a catalyst for increased trading activity in the memecoin space, with DOGE and SHIB showing bullish trends.

BTC, the leading cryptocurrency by market cap, briefly topped $95,000 shortly before the news, its highest level since March 2, according to CoinDesk. The move came three days after prices crossed the Ichimoku Cloud momentum indicator, signaling a bullish shift in the market.

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Support for the constructive outlook comes from the consistent long-tailed daily candlesticks (boxed), which indicate a buying mentality on the downside, as well as the rising five- and ten-day simple moving averages (SMA). Moreover, the MACD histogram on the daily chart shows higher bars above the zero line, indicating increasing upside momentum.

In other words, the path of least resistance is likely to be on the higher side, pointing to a continuation of the move above $100,000, which is also the most popular call option strike on Deribit. The bullish outlook could be threatened by a drop below $88,800, a level that was previously resistance and has become support.

AI Analysis on SHIB and DOGE

Amid this bullish sentiment towards Bitcoin, CoinDesk AI Market Insight bot has recorded a breakout in SHIB, the world's second-largest meme coin, indicating an increase in risk appetite in the broader crypto market.

“Bitcoin’s rise above $92K has acted as a catalyst for increased memecoin trading, with SHIB breaking out of its current year-long downward channel and showing bullish technicals

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