“meme”, “joking”, “community” coin mania, you name it.

The only fact is that Dogecoin (DOGE) and Shiba Inu (DOGE) have been making headlines in recent days due to the price action, which has resulted in many crypto holders moving towards these types of assets.

SHIB’s price rally coincided with Bitcoin’s rally, prompting the price of Ethereum to refresh all-time highs above $4,400.

Celebrities like Jason Derulo, famous financial journalists from major media like Bloomberg, crypto personalities, and fintech players have spoken extensively about how the nicknamed Dogecoin Killer managed to rise from $0.00015 to $0.00088 in a matter of minutes. days, more than a million tweets have been generated about her move.

Read:SXP cryptocurrency price up 30% after Binance acquisition announcement…Details here

SHIB Mania:

The meme craze was not limited to retail investors, but adoption increased as well, as restaurants began accepting “SHIB” as payment, as did one of the famous restaurants in Paris this week.

In addition, as we mentioned in Arab Bitcoin, one of the largest cinemas in the world is considering the possibility of accepting “Shiba Inu” coins as payment for the sale of their movie tickets.

What surprised the media recently was the $8000 “SHIB” investment that turned into $5.7 million in just 400 days due to the recent rise.

The massive profit taking maneuvers also led to another rally in “DOGE” which was able to breach the $0.30 level after breaking out of the triangle pattern.

With this scenario in place, the question arose as to how the meme craze could continue further, as some people believe that these coins are only backed by endorsement-related ads from famous people or by companies that accept them as payment.

Will DOGE Coin Reach $0.88?

Su Zhu, a former Deutsche Bank trader, hinted that Dogecoin could trade around $0.88 after SHIB rose.

Read:The difficulty of Bitcoin mining reaches an all-time high while the price is still below $40 thousand

However, SHIB could suffer a huge sell-off due to the amazing bullish movement it has seen over the past few days, and its holders could decide to put it up for sale to take a profit.

So far, in terms of on-chain metrics, institutions and whales are fueling the price action of DOGE, which means that meme is not just a cryptocurrency for people but a cryptocurrency for business nowadays.

Will SHIB become a business too?

Read also:

AMC theaters are studying the possibility of adding the digital currency “Shiba Inu” as a payment method

Financial Action Task Force “FATF” Provides Explanatory Guidance on “DeFi” and “NFT”