• In the last 24 hours, DOGE and SHIB’s value has risen by 5% and 4%, respectively.
• However, in both markets, control remains in the hands of the bears.

Leading meme coins, Dogecoin [DOGE] and Shiba Inu [SHIB] recorded minor upswings of 5% and 4% in their prices over the past 24 hours. This uptick comes on the heels of the Securities and Exchange Commission’s (SEC) recent approval of a Bitcoin ETF.

At press time, DOGE exchanged hands at $0.08264, while SHIB traded at $0.00000994, according to data from CoinMarketCap. 

DOGE bulls beware

The positive sentiment surrounding the BTC ETF approval led to an upward intersection of DOGE’s MACD with its trend line on a 12-hour chart. This signaled a trend change as the approval news initiated an altcoin market rally. 

While this type of upward intersection suggests the commencement of a new bull cycle, it is key to note that the demand for DOGE remained low. At press time, key momentum indicators did not return any significant hike in value.

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