Memecoins surge as Ethereum optimism infects crypto market

Dogecoin is up about 14% over the past five days, while Shiba Inu has gained almost 40%, according to pricing data compiled by Bloomberg.

“Dogecoin and Shiba Inu have both broken out over the weekend, clear evidence that the retail investor is back,” said Hayden Hughes, chief executive of social-trading platform Alpha Impact in a message Monday, noting that there is optimism both coins will gain like Ethereum as they’re each due for upgrades as well.

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