Shiba inu surged to a multi-month high on Saturday, as the meme coin extended its recent run of bullish momentum. The rally began as a result of the hopes surrounding its upcoming layer 2 launch. Dogecoin also extended recent gains to start the weekend.
Shiba Inu (SHIB)
Shiba inu (SHIB) was one of the notable gainers during Saturday’s session, as price surged to a multi-month high.
Following a low of $0.00001001 on Friday, SHIB/USD rallied to a peak of $0.00001127 earlier in the day.
The move came as SHIB surged for a fifth straight day, climbing to its strongest point since April in the process.
SHIB/USD – Daily Chart
Looking at the chart, the latest rally occurred as the relative strength index (RSI) moved past a ceiling of 65.00.
Currently, price strength is at a reading of 74.27, with the next visible resistance zone at the 76.00 mark.
Should bulls hit this target, SHIB could possibly hit $0.00001200.
Dogecoin (DOGE)
Dogecoin (DOGE) also raced higher during the weekend, as it too remained in the green for a fifth consecutive session.
DOGE/USD jumped to an intraday high of $0.07715 on Saturday, which came after a low of $0.07517 the day prior.
This resulted in the cryptocurrency climbing to its strongest level since August 2, when price peaked at $0.0786.
DOGE/USD – Daily Chart
Similar to shiba inu, the dogecoin move came as price strength broke out of a resistance level of 55.00.
A ceiling of 60.00 now awaits bulls, in the event they are able to maintain this week’s momentum.
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Do you expect meme coins to maintain bullish sentiment this weekend? Let us know your thoughts in the comments.
