Dogecoin’s ETF listing efforts and network activity give it a technical edge and make it a favorite for short-term bullish traders.
Shiba Inu’s long-term fundamentals are strengthening with aggressive token burns and increased derivatives interest.
Both coins show signs of bullish continuation, but DOGE currently holds stronger momentum; SHIB may outperform in future cycles as ecosystem upgrades kick in.
Cryptocurrency market has regained bullish momentum, and the memecoin segment is once again gaining momentum. Memecoins have a market cap of $72.5 billion and have been impacted by speculative hype and some fundamental growth in May 2025. Leading the charge are the two leading assets in this category, Dogecoin (DOGE) and Shiba Inu (SHIB).
While both tokens enjoy notable gains, retail and institutional investors are trying to determine which of the two offers better risk-reward in the months ahead.
Dogecoin is currently trading at $0.2253, having increased 14.83% in the last seven days. Dogecoin currently has a market cap of about $33.64 billion, which is close to half the market cap of the memecoin sector.
Recent developments have increased the interest in Dogecoin:
ETF developments: Earlier, Nasdaq filed a regulatory filing to list and trade shares of the 21Shares Dogecoin ETF, which may open another investment avenue for the popular cryptocurrency.
Network Activity: On May 13, Dogecoin saw 528% growth in active addresses. The large spike indicates a lot of network activity and investor interest.
Derivatives Market: DOGE futures open interest increased by 70% to $1.65 billion. This shows that speculative interest is strong.
The MACD is showing a positive crossover, with the MACD line now above the signal line. This usually indicates bullish momentum and an opportunity for an upward price move. The MACD histogram is also green and increasing, further confirming the bullish scenario.
Dogecoin has also reclaimed the 200-day EMA for support and is currently trading above all key EMAs, a strong signal of trend continuation. If bullish momentum continues, DOGE may test a resistance zone around $0.243, with a possible rally toward $0.2865.
Shiba Inu is currently trading at $0.00001511. SHIB has benefited from a return of positive fundamentals and the introduction of deflationary mechanics into the ecosystem.
SHIB is testing the resistance at $0.00001610 (200-day EMA).
RSI is now coming down from overbought levels and resting at around 58, indicating strong buyer interest.
Key support lies around $0.00001452, with some EMA clusters supporting it.
This suggests a bullish structure. If SHIB can break above the 200 EMA, it could rally towards $0.0000185.
Recent burn data from Shibburn indicates that over 410 trillion SHIB tokens have been burned, deleting just under half of the initial supply. In the last 24 hours, there have been 8 SHIB burn transactions, leading to deflationary pressure on the token. However, the burn rate has decreased to over 60% in a day, indicating that short-term momentum remains slow to low unless burn rates can increase again.
While currently Dogecoin and Shiba Inu have no direct spot ETF offerings, they are beginning to see indirect yields from crypto ETFs and index baskets such as the Grayscale Digital Large Cap Fund, which added both in small percentages.
According to Santiment, SHIB's derivatives open interest is up 15% this week, with slightly favorable funding rates, which means that there is a strong bullish opinion on SHIB for leveraged traders.
From a technical point of view, Dogecoin looks to have the edge based on whale accumulation and network activity. It is bullish on technicals, with a positive institutional sentiment, coupled with positive indicator readings.
Meanwhile, Shiba Inu's long-term potential in improving the ecosystem with an aggressive token burn program with active community support means SHIB could be a meaningful play in the future, with key resistance being broken, leading to it potentially closing the gap in performance differential to DOGE.
In conclusion, if you are looking for a short—to mid-term opportunity with less volatility, DOGE is the play. If you potentially see value long term with ecosystem development and a deflationary opportunity, then consider SHIB. Memecoins are still high-risk / high-reward assets, and traders should remember to closely watch volume, funding rates, and on-chain flow.