Dogecoin price shows a lack of momentum despite its competitor, Shiba Inu, rising over 200% in roughly a week. Moreover, the overall bearish structure of the market also indicates that DOGE could be due for a correction.

DOGE/USDT 1-day chart

XRP/USD 2-week chart

Bitcoin supply shocks have historically pushed the asset’s price higher. Bitcoin’s previous rallies have been triggered by a drop in supply across exchanges and a spike in whale accumulation. 

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