DOGE, SHIB Surge 30% While BTC, ETH, XRP Lag-What's Happening?

Dogecoin (CRYPTO: DOGE) surged 30% over four days, while Shiba Inu (CRYPTO: SHIB) rallied 27% in its strongest January performance since 2023, outperforming Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and XRP (CRYPTO: XRP).

DOGE ETFs Drive Institutional Demand

The Grayscale DOGE Spot ETF (NYSE:GDOG) and Bitwise DOGE Spot ETF (NYSE:BWOW) saw explosive demand in early January after months of flat activity.

Daily net inflows spiked to $1.60 million on January 5 and $2.90 million on January 2, marking the first significant institutional buying since the ETFs launched in late 2025. 

Cumulative total net inflow across DOGE spot ETFs reached $6.24 million as of January 6, with nearly all of that capital flowing in during the first week of January.

Bloomberg analysts noted that the 2x Dogecoin ETF has become one of the best-performing ETFs in early 2026. 

The ETF launches mark a significant shift as institutional products bring legitimacy to assets previously dismissed as purely speculative memecoins.

DOGE posted a 20.60% gain over the past seven days after breaking through key technical resistance levels.

Dogecoin Technical Setup Shows Bullish Divergence

DOGE Price Analysis By TradingView

DOGE trades trapped below major EMAs, but the Supertrend indicator flipped bullish at $0.126, suggesting potential trend reversal despite bearish channel structure.

If DOGE holds above $0.126 support and reclaims the 20 EMA at $0.137, accelerated upside toward $0.16-$0.17 resistance zone becomes achievable. 

A break above $0.15 with volume would confirm the bullish signal, while failure to hold $0.126 invalidates the setup.

DOGE Netflows By Coinglass

Spot inflow/outflow data shows a net outflow of $9.28 million on January 7. 

While outflows typically suggest accumulation or movement to cold storage, the persistent downtrend suggests these movements may indicate capitulation or strategic exits rather than confident holding behavior.

SHIB Marks Strongest January Since 2023

SHIB Price Dynamics By TradingView

Shiba Inu climbed 27% in January and is up 26.30% over the past seven days, though it experienced a 3% pullback in the last 24 hours.

The Parabolic SAR at $0.00000734 flipped bullish (dots below price), suggesting building upside momentum despite price remaining below most EMAs.

The token sits above the 20 EMA at $0.00000806 but faces resistance at the 50 EMA at $0.00000828 and the channel midpoint.

A break above $0.00000914 (100 EMA) would confirm bullish continuation, while failure to hold $0.00000806 support invalidates the setup.

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