$DOGE $SHIB

DOGE Pops 9% as SHIB Flows Confirm Memecoin Momentum

Synopsis

Dogecoin surged about 9% over a 24-hour period, breaking through key resistance, while Shiba Inu also posted gains. The moves coincide with on-chain signs of tightening supply (especially in SHIB) and growing investor interest in meme coins more broadly.

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What Happened?

DOGE rally

Over the 24 hours from Oct 1 to Oct 2 (UTC), DOGE climbed from around $0.23 into the $0.25 zone — a gain of roughly 8.8% to 9%.

The breakout came with heavy volume — over a billion DOGE changed hands — and a shift in support levels (notably ~$0.242).

SHIB also rises

Shiba Inu joined in the advance, rallying ~6%, with exchanges showing a drop in SHIB reserves — meaning less of the token is held on exchanges, which often signals reduced selling pressure.

Technical signals & institutional interest

Analysts point to a “Golden Cross” across major charts (shorter-term moving averages crossing above longer ones) as reinforcing bullish momentum.

Meanwhile, speculation about U.S. ETF approvals and institutional flows into memecoins is seen as a possible catalyst for continued upside.

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Interpreting the SHIB Flows

The SHIB side of the story offers a compelling narrative:

Exchange balance drop

SHIB’s holdings on exchanges have fallen to levels not seen in years — this suggests that holders are withdrawing SHIB from exchanges (perhaps into private wallets or long-term storage), thus reducing the supply that is readily liquid.

Turnover & activity

SHIB has seen record turnover (trillions of tokens changing hands), indicating elevated trading interest.

These on-chain metrics support the idea that accumulation is happening behind the scenes, providing a foundation for meme-coin strength beyond pure hype.

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What Traders Are Watching

Support / resistance zones for DOGE

The new support is seen near ~$0.242, with resistance between $0.254–$0.255. If DOGE can decisively clear and hold above that band, some analysts see a path toward $0.32.