As a seasoned researcher who has navigated through countless market fluctuations and trends over the years, I find myself observing with a mix of intrigue and caution as I analyze the recent movements of DOGE and SHIB. The increasing activity at the beginning of the week, according to CoinMarketCap, is not entirely unfamiliar territory for me. However, the steep fall of DOGE by 5.57% and SHIB by 8.43%, as per today’s data, does raise some eyebrows.
Sellers have become more active at the beginning of the week, according to CoinMarketCap.
DOGE/USD
DOGE is one of the biggest losers today, falling by 5.57% over the last day.
On the day-to-day graph, Dogecoin’s price has been consistently decreasing following a misleading breakout above the resistance point of $0.1307. If the daily closing price approaches its lowest point, this decline might extend down to the support level of $0.1154.
Such a scenario is relevant until the end of the week.
DOGE is trading at $0.1197 at press time.
SHIB/USD
SHIB has followed the drop of DOGE, going down by 8.43% since yesterday.
From a technical perspective, currently, the market is being dominated by bears (negative influences). But if there’s a false breakout in the $0.000017-$0.00001750 price range, it might lead to a rebound towards the $0.00001850 price level instead.
SHIB is trading at $0.00001813 at press time.
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2024-09-30 14:36