Have DOGE or SHIB accumulated enough energy for a rise?

Denys Serhiichuk U.Today

The end of the week has turned out to be bullish for the cryptocurrency market.

Top coins by CoinMarketCap

DOGE/USD

DOGE could not follow most of the coins as the drop of the meme cryptocurrency has accounted for 0.92% over the last day.

DOGE/USD chart by Trading View

DOGE is trading sideways after the breakout of the $0.1251 level. Currently, the altcoin is accumulating energy for a further move based on the decreasing trading volume. All in all, one should not expect any fluctuations from DOGE soon.

In this case, trading between $0.14 and $0.15 is the more likely price action for the upcoming days.

DOGE is trading at $0.1438 at press time.

SHIB/USD

SHIB has lost less than DOGE with a drop of 0.20%.

SHIB/USD chart by TradingView

From the technical point of view, SHIB is neither bullish nor bearish as the price is in the middle of the wide channel. However, if buyers can get to $0.000026 and fix above it, the rise may lead the rate to the range of $0.000027-$0.000030 by the end of the month.

SHIB is trading at $0.00002591 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.

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