Co-founder of Dogecoin, Billy Markus, recently commented on his bullish outlook on the Shiba-Inu-themed memecoin. Markus believes Dogecoin is ready for a trend reversal as it inches closer to $0.15. Analysts predicted the Dogecoin price trend could get interesting in the midterm if it remains above support.
63 billion Shiba Inu tokens were accumulated by large wallet investors in the recent dip. Ethereum whales have accumulated Shiba Inu through recent crypto bloodbaths, diversifying their portfolio. Shiba Inu transaction count dropped by 50%, fueling a bearish outlook among investors.
The Bitcoin Fear & Greed Index has moved into the orange zone, implying that investor outlook on BTC is bullish. Jack Dorsey proposes Universal Basic Income powered by Bitcoin could boost demand for the asset. Bitcoin price crosses $41,000, adding $170 billion to the crypto market capitalization overnight.