Shiba Inu gains 40% on Dogecoin two months after record lows By Cointelegraph

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DOGE days of summer: Shiba Inu gains 40% on Dogecoin two months after record lows

Shiba Inu (SHIB) has grown stronger against its top “memecoin” rival Dogecoin (DOGE) in the last two months, in part due to the token’s periodic token burning events and a flurry of project announcements that promises to boost its utility.

In detail, SHIB/DOGE gained a little over 40% after bouncing from 0.0001120 on May 12, its lowest level on record.

four-hour price chart. Source: TradingView
Shiba Inu supply. Source: ShibBurn.com
SHIB/USD versus daily price chart. Source: TradingView
ShibaSwap trading volume. Source: Nomics.com
SHIB/DOGE daily price chart featuring ‘rising wedge’ breakdown setup. Source: TradingView