As June begins, there's a lot of buzz around meme coins like Shiba Inu and Dogecoin. These cryptocurrencies, known for their wild price swings and loyal followers, are drawing attention from investors and fans alike. People are speculating if Shiba Inu and Dogecoin will see significant price increases this month.

Several factors, including market sentiment, recent news, and broader economic trends, could influence their prices. This article looks at what might drive Shiba Inu and Dogecoin higher in the coming weeks. Many investors are focusing on meme coins because these digital assets have the potential to deliver huge returns quickly.

Shiba Inu (SHIB) Analysis

Shiba Inu (SHIB) is currently priced at $0.00002531, with a 24-hour trading volume of $273,904,355.90. This marks a 1.03% increase in the last 24 hours and a 2.17% rise over the past week. With a circulating supply of 590 trillion SHIB, its market cap stands at $14.91 billion. SHIB is in an ascending triangle pattern, suggesting potential upward movement. Open Interest for SHIB has dropped by 3.58%, now valued at $59.4 million.

Ascending triangles indicate growing investor interest as prices stabilize with increasing lows. If this pattern holds, SHIB might break out and rally by 32% to approximately $0.000036. Coingecko data shows that 72% of users are optimistic about SHIB, while 28% are not. Key resistance points for SHIB are around $0.000029, $0.000036, and $0.000041. Strong support has formed around its current price, possibly preventing significant drops. Coinbase Futures recently started supporting SHIB perpetual futures, reinforcing its strength despite its meme coin origins.

**Dogecoin (DOGE) Analysis**

Dogecoin (DOGE) is priced at $0.1598, with a 24-hour trading volume of $542,675,879.61. This reflects a 2.52% increase in the last 24 hours, but a 4.31% decline over the past week. With a circulating supply of 140 billion DOGE, its market cap is $23.1 billion. DOGE hit a peak of $0.16 on June 1. Open Interest for DOGE has risen by 0.28%, now valued at $791.2 million.

Miners earned $208 million from DOGE in May 2024, hinting at a possible 30% price rebound above $0.20 soon. IntoTheBlock’s data shows significant resistance at $0.18, where many holders might sell to take profits. DOGE's price is currently around $0.1609, a slight increase from the day's low. If bearish trends continue and the price drops below $0.1549, support levels are at $0.152 and $0.150. If bulls regain control, resistance levels at $0.163 and $0.165 will be critical. The Relative Strength Index (RSI) of 56.83 indicates a neutral market, but a bearish trend may be forming. Tightening Bollinger bands suggest decreasing volatility, which often precedes a downward trend. However, with the price above the signal line, there may be bullish momentum for a breakout, possibly driving DOGE to $0.22.

In conclusion, Shiba Inu and Dogecoin have shown resilience and potential for significant gains, driven by their strong communities and recent developments. Investors are watching closely to see if these meme coins will surge this June.