Ethereum Outshines SHIB, DOGE with 2.4% Gain Above $3,700

• SHIB and DOGE see declining trading volumes, signaling weaker market activity.
• Ethereum gains 2.41%, with rising volume pushing price above $3,700.
• SHIB faces resistance near $0.0000140, DOGE struggles below $0.235.

Shiba Inu (SHIB) and Dogecoin (DOGE) recorded mixed performances at the time of writing, with both meme tokens showing signs of weaker market activity while Ethereum (ETH) advanced on higher trading volumes. According to CoinMarketCap data, SHIB and DOGE faced declining demand, compared to Ethereum’s stronger buying momentum that pushed its price above the $3,700 mark.

Shiba Inu, trading at $0.00001360, recorded a daily gain of 0.41%, while its market capitalization stood at $8.01 billion. However, with a dip in its trading activity, the 24-hour trading volume fell to $330.33 million, down 40.19%, bringing the volume-to-market-cap ratio to 4.15%.

Price action displayed that SHIB fluctuated between $0.0000132 and $0.0000139 throughout the day. The token surged in the evening session before declining into early morning, where it recorded lower lows around the $0.0000132–$0.0000133 range. Buyers returned by midday, lifting prices to $0.0000136, though resistance around $0.0000140 blocked further growth.

The supply remained fully unlocked, with a max supply of 589.55 trillion SHIB and a circulating supply of 589.24 trillion. Market observers noted that any move above $0.0000138–$0.0000140 on stronger volume would signal renewed upward momentum, while a drop below $0.0000133 could test liquidity levels.

Price and Volume Declines in Dogecoin

Dogecoin closed at $0.2320, down 1.53% over the past 24 hours, with its market cap at $34.85 billion. Trading volume fell 29.52% to $3.84 billion, leading to a volume-to-market-cap ratio of 11.01%. 

Intraday data shows that DOGE peaked at $0.2353 before reversing direction, dipping toward $0.225 in early trading. A small recovery later brought it back to $0.232 by midday. 

Related: Altcoin Market Prepares for Massive Inflow Amid Capital Rotation and Stablecoin Accumulation

Ethereum Gains on Rising Volume

Though the meme coin market witnessed slight ups, Ethereum outperformed them rising 2.41% to $3,714.41. The network’s market capitalization reached $448.37 billion. Additionally, the trading volume climbed by 11.15% to $46.64 billion, boosting the volume-to-market-cap ratio to 10.18%.

The asset moved between $3,600 and $3,750, with support near $3,650 and a breakout above $3,750 on strong volume could push prices toward recent highs. While SHIB and DOGE continue to face low demand and fading momentum, Ethereum stands out with stronger volume and price action, suggesting greater investor confidence. 

SHIB and DOGE remain vulnerable to further downside unless volume picks up. Meanwhile, Ethereum’s bullish signals and technical resilience may lead the next bull run if it breaks key resistance levels. Though meme coin rally is slowing, ETH remains firmly in the lead.

Related: Ethereum Faces Breakout Moment as Top Analyst Eyes $10K Bull Market Target