As a seasoned researcher with years of market analysis under my belt, I must admit that this week has started with a familiar tune – a market correction. It seems like the top 10 coins are echoing the same melody, and it’s not quite the rhythm I hoped for at the start of the week.
This week kicked off with a market adjustment, as every coin among the top ten is showing losses, based on data from CoinMarketCap.
DOGE/USD
The rate of DOGE has fallen by 4.8% over the last 24 hours.
On the day-to-day graph, the Dogecoin price continues to decrease following an unsuccessful breach of the $0.48 resistance level. If today’s bar ends close to its lowest point, the decline might extend towards the $0.40 region as early as this week.
DOGE is trading at $0.4402 at press time.
SHIB/USD
SHIB has followed the decline of DOGE, going down by 6.36%.
As I analyze the market dynamics, it appears that Shiba Inu (SHIB) is mirroring Dogecoin (DOGE) from a technical standpoint. Following an apparent breach of its resistance level at $0.00003335, the rate has started to drop.
If purchasers fail to take control, a correction could cause the price to approach the $0.000028 region rather quickly.
SHIB is trading at $0.00003030 at press time.
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2024-12-09 18:27