What will happen next with the prices of DOGE and SHIB amidst the increased volatility?
Doge
Dogecoin and Shiba Inu coin, as leaders in the memecoin space, have fallen by 11.69% and 6.99% respectively in the past seven days, showing that these tokens may face negative prospects in the future.
Against the increased price volatility in the cryptocurrency market, will there be an upward rebound in memecoins in the coming week?
The price of Dogecoin has been fluctuating between $0.128 and $0.155, showing that investors are increasingly interested in it. Despite the high price volatility in the cryptocurrency market, the price of Dogecoin looks relatively stable.
In addition, the 50-day moving average on the price chart has some resistance to the price, indicating that there is still some uncertainty in the price trend of Dogecoin.
It is worth noting that DOGE Dogecoin has fallen by 0.10% in the past day, and the trading volume has reached $889.89 million, an increase of 49.56% from the previous day.
According to the Moving Average Convergence Divergence (MACD), the histogram continues to decline, showing an increase in selling pressure in the cryptocurrency market. In addition, the moving average in the one-dimensional time frame shows a bearish trend, indicating that the future market outlook is not optimistic.
If the market regains momentum, the bulls will try to break the $0.155 resistance level in the coming weekend. On the contrary, if the bears continue to control the market, the DOGE price will fall to the important support level of $0.128.
The price of SHIB has risen by 4.12% in the past day, showing that investors are increasingly interested in it. In addition, the moving averages show that there may be an upward trend, suggesting that the price may rise this week.
The MACD chart shows a horizontal line, indicating that the price trend of memecoin in the cryptocurrency market is not very good. In addition, the average price chart shows a neutral trend, indicating that the future price trend is uncertain.
If the market can push the SHIB token above the $0.00002375 resistance level, the bulls will be motivated and ready to test the overhead resistance level of $0.000030 this month.
But if the bulls are not strong enough, the price of this memecoin will fall to the $0.0000170 support level.
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