How great is the potential of DOGE, SHIB and FLOKI?

Denys Serhiichuk U.Today

The week has begun in a neutral mode on the cryptocurrency market as some coins are in the red zone, while others are in green.

Top coins by CoinMarketCap

DOGE/USD

The rate of DOGE has fallen by 1.15% over the last 24 hours.

DOGE/USD chart by TradingView

DOGE is trading in a channel between the support at $0.1310 and the resistance at $0.2204. The trading volume remains low, which means that traders have not accumulated enough energy for a further sharp move.

In this case, continued sideways trading is the more likely scenario for the upcoming days.

DOGE is trading at $0.1713 at press time.

SHIB/USD

The price of SHIB is almost unchanged since yesterday. It has only grown by 0.12%.

SHIB/USD chart by TradingView

The volatility of SHIB is at its lowest levels against the falling trading volume. Currently, neither bulls nor bears are dominating as the rate is far away from its support and resistance areas.

If the bears' pressure continues, the price may test the zone of the most liquidity around $0.000028 shortly.

SHIB is trading at $0.00003392 at press time.

FLOKI/USD

FLOKI is the biggest gainer from the list today with a price change of +4.73%.

FLOKI/USD chart by TradingView

FLOKI made a false breakout of the resistance at $0.000115. If bulls cannot break this level and fix above it, bears will control the situation on the market. If they keep the pressure, there is a possibility of seeing a retest of the support at $0.00009675 soon.

FLOKI is trading at $0.00010786 at press time.

Read full original article on U.Today

Author

Denys Serhiichuk

U.Today

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

Solana dips as hawkish Fed cuts dampen market sentiment

Solana (SOL) price is trading below $130 at the time of writing on Thursday, after being rejected at the upper boundary of its falling wedge pattern. The broader market weakness following the Federal Reserve’s hawkish rate cut has added to downside momentum.

Pi Network Price Forecast: PI declines as core team offloads 2 million tokens

Pi Network (PI) edges lower by 3% at press time on Thursday, marking its fifth consecutive day of losses. A transfer of 2 million PI tokens from the liquidity reserve, part of the Pi core team wallets, bolsters the bearish sentiment.

Cardano Price Forecast: ADA flips bearish as derivatives markets flout network growth

Cardano (ADA) extends losses by 5% at press time on Thursday, following the 3% decline on the previous day and breaking the local resistance trendline. Derivatives data indicate a bearish shift in the narrative, as Open Interest and the number of active long positions decline.

Sei Price Forecast: SEI slips despite volume surge as Xiaomi partnership boosts adoption outlook

How great is the potential of DOGE, SHIB and FLOKI?