Dogecoin and Shiba Inu Signal Simultaneous 15% Volatility—Will Both Rise?

▲ Shiba Inu (SHIB) and Dogecoin (DOGE)

Dogecoin (DOGE) and Shiba Inu (SHIB), two of the cryptocurrency market’s leading meme coins, are both compressing energy within symmetrical triangle patterns, heightening tensions ahead of a potential explosive move of more than 15% in either direction.

According to crypto media outlet Benzinga on Feb. 21 (local time), Dogecoin and Shiba Inu continue to move sideways near key support levels, but technical indicators suggest a strong breakout may be imminent. For Dogecoin, the Parabolic SAR indicator recently shifted below the price, signaling a meaningful rebound for the first time in weeks. Although the Supertrend indicator remains in bearish territory, the narrowing gap between support and resistance indicates that price compression has reached its peak.

Derivatives market data for Dogecoin supports expectations of heightened volatility. Open interest rose 2.30% to $1.08 billion, while trading volume surged 16.66% to $2.10 billion. Notably, long/short ratios on major exchanges such as Binance and OKX show a strong buying bias, raising the possibility of a short squeeze that could trigger a sharp rally if prices climb. Conversely, a breakdown below support could lead to cascading liquidations and further downside pressure.

Shiba Inu is also showing signs that its downtrend may be nearing its final phase, as major moving averages converge tightly. The token is forming a symmetrical triangle pattern between rising support and descending resistance, with a sharp price move of approximately 10% to 15% expected near the apex of the pattern. The key resistance level lies at the Supertrend indicator, and a breakout above it could open the path toward the 200-day moving average.

Positive developments are also emerging on the supply side. Shiba Inu’s token burn activity surged 1,900% over the past 24 hours, with multiple large-scale burn transactions exceeding 1 million SHIB. Although the burn amount may appear modest compared to the vast circulating supply of 585.47 trillion SHIB, continued supply reductions strengthen the token’s market fundamentals. Buyers are accumulating energy at the tip of the triangle pattern, eyeing an opportunity for a technical breakout.

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