SHIB and DOGE Spike as Ethereum's Merge Is Drawing Near and Due to Some Other Factors

$SHIB and $DOGE spike as .ethereum's Merge is drawing near and over a few other factors: crypto

Dogecoin today demonstrated a rise by 11.82%, while Shiba Inu, its rival by market cap, saw its price increase by 33.4%. This happened as Ethereum chain is coming close to the date announced by Vitalik Buterin last week — the day on which the long-expected Merge upgrade is likely to take place, Sept. 15, a month out from today.

Overall, according to data shared by Bloomberg, Doge has gained 14% in the past week, with the major rise happening today, and SHIB soared by nearly 40% over the same time period. In the meantime, Ethereum itself has not been growing much, and its price has remained in the $1,830 zone so far after managing to break above $2,000 briefly on Saturday.

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