The meme coin market has been experiencing a period of stagnation, with Dogecoin and Shiba Inu failing to show any significant price movements despite other altcoins enjoying relief bounces. This phenomenon can be attributed to their strong correlation with Bitcoin, which has been experiencing a lackluster performance. Furthermore, on-chain metrics paint a bearish outlook for both coins, with declining net network growth and large transactions on the low. Despite this, analysts predict a potential upside for both coins in the long run, with Dogecoin expected to rise to as high as $2 and Shiba Inu predicted to shed another zero in this bull run. The stagnation in price movement has led to a decline in their market capitalization ranking, with Dogecoin dropping to the ninth position and Shiba Inu to the thirteenth position.

The correlation between Dogecoin and Shiba Inu's prices and that of Bitcoin is almost close to '1', indicating a strong positive correlation. This means that the price movement of Bitcoin has a significant impact on the prices of both coins. The recent uninspiring price movement of Bitcoin has therefore mirrored the lackluster performance of Dogecoin and Shiba Inu. Furthermore, on-chain metrics such as net network growth and large transactions also paint a bearish outlook for both coins.

Despite the current stagnation, analysts predict a potential upside for both coins in the long run. Crypto analyst Crypto Kaleo recently predicted that Dogecoin could still rise to as high as $2 in this bull run, based on his belief that this is a meme coin supercycle. Meanwhile, crypto analyst Captain Toblerone recently predicted that Shiba Inu would still shed another zero in this bull run and rise to as high as $0.00045000. On-chain analytics platform Santiment also hinted at an imminent price recovery for Shiba Inu as they revealed that the meme coin is one of the large-cap assets showing the most undervaluation.

The decline in price movement has led to a decline in the market capitalization ranking of both coins. According to data from CoinMarketCap, Dogecoin is now the ninth largest crypto token by market cap, dropping from the eighth position. Meanwhile, Shiba Inu is now the thirteenth largest crypto token by market cap, dropping from the eleventh spot. This decline in ranking is a reflection of the current bearish sentiment in the market.

Despite the current stagnation, both coins have a strong and dedicated community of supporters. Dogecoin's community is known for its charitable efforts, tipping culture, and social media campaigns. Tesla CEO Elon Musk's tweets have also fueled Dogecoin's popularity, with his support for the coin evident in his social media posts. Shiba Inu's community, on the other hand, is known for its passion and dedication to the coin, with many supporters believing in its potential for long-term growth.

In conclusion, the current stagnation in the price movement of Dogecoin and Shiba Inu is a reflection of the bearish sentiment in the market. However, analysts predict a potential upside for both coins in the long run, with Dogecoin expected to rise to as high as $2 and Shiba Inu predicted to shed another zero in this bull run. The strong and dedicated community of supporters for both coins is also a positive sign, with many believing in their potential for long-term growth. As the market continues to evolve, it will be interesting to see how both coins perform in the coming months.