Crypto Expert Forecasts Meme Coin Surge: Will Shiba Inu and Dogecoin Price Hit New Highs?

cryptonews.com:

As Dogecoin and Shiba Inu remain complacent amid the stir generated by the ongoing German and Mt.Gox Bitcoin sell-offs, one crypto expert foresees a meme coin surge on the horizon.

This comes as both Dogecoin and Shiba Inu have seen losses today, falling 0.43% and 0.52% respectively.

However, while Dogecoin has done little to recoup its losses since last Thursday, posting a 3.07% loss, Shiba Inu seems to be making headway at a 6.42% gain.

However, this small victory does not account for its losses over the past month, Dogecoin is down 22.80% while Shiba Inu is 25.62%.

But recent price action may be about to change.

Reputable Crypto expert Andrew Kang shared a bullish outlook on meme coins in a July 7th X thread, highlighting their potential to make “new highs.”

Throughout the posts, Kang shared an overall bearish view of the crypto space at large, citing his belief that “ 98%+ of altcoins topped for the cycle.”

However, he remains optimistic that a “handful of coins” may make some new highs in the last quarter of 2024 to the first quarter of 2025 . Specifically, he cited meme coins as the most likely candidates:

The most common mistake you see in crypto markets is buying too early when the trend has inflected from up to down

Corrections from big market structure breaks are always deeper and longer than most expect

You do not buy when a few people are bearish 10% off BTC highs. Some… https://t.co/8vLwKXBa4G

— Andrew Kang (@Rewkang) July 7, 2024

However, he urged traders to be “selective” in their meme coin investments, given the plethora of coins available.

Given this prospect, a closer look at the Dogecoin and Shiba Inu charts may suggest that they are not the play to make.

Looking at the bigger picture, the 1-day