Will Memecoins Dogecoin and Shiba Inu Mirror Bitcoin's Trajectory?

Dogecoin and Shiba Inu have enjoyed a boost thanks to Bitcoin's recent bullish momentum

Dogecoin saw a 6% increase in the last 24 hours, while Shiba Inu experienced a 2.75% rise

The broader cryptocurrency market has been on a meteoric rise in recent days, contributing to a 4.78% increase in the memecoin market cap within a day

Despite optimistic projections by a crypto analyst who anticipates Dogecoin hitting the $1 milestone, achieving this would require an impressive 100x surge from its current price

Currently, Dogecoin faces a notable obstacle at the $0.06434 resistance level, and the bulls must surpass this level to sustain the ongoing rally

On the other hand, Shiba Inu finds itself within a descending wedge formation.