Can FLOKI rise against the fall of DOGE and SHIB?
The market has faced a correction today as all of the top 10 coins have entered the red zone.
Top coins by CoinMarketCap
DOGE/USD
The rate of DOGE has gone down by 7.11% over the last day.
DOGE/USD chart by TradingView
DOGE is coming closer to the vital support level at $0.1940 on the daily chart. The fall is accompanied by increased trading volume, which means that the breakout may cause a huge drop.
If that happens and the meme coin fixes below the blue line, the decrease may get DOGE to $0.15 soon.
DOGE is trading at $0.2146 at press time.
SHIB/USD
SHIB has lost even more with a decline of more than 10%.
SHIB/USD chart by TradingView
SHIB is facing a similar price action as it is also approaching the crucial level of $0.00003528.
If bears break it, there is a good chance to see the continued decline to the zone of the most liquidity around $0.000030.
SHIB is trading at $0.00003808 at press time.
FLOKI/USD
FLOKI is not an exception to the rule as it is also going down.
FLOKI/USD chart by TradingView
Despite the fall, FLOKI remains trading in a wide channel. At the moment, neither bulls nor bears have seized the initiative so far. However, if sellers manage to fix below the support at $0.00013258 on the daily chart, that may be a prerequisite for a further price decline.
FLOKI is trading at $0.00016995 at press time.
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Author
Denys Serhiichuk
U.Today
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis.
