Shiba Inu (SHIB)
Meme coins are back in the spotlight and Shiba Inu is no exceptions Its price exploded this week increasing by a mind blowing 34% This has put SHIB back on the map and buyers are rushing to get exposure
After the price found good support at $0.000014 buyers became confident and volume shot up to levels not seen since the bottom in August This has quickly taken the price down to just under the key resistance of $0.000020
Looking ahead SHIB has a good chance of testing this level next Once there sellers may return and take the price into a pullback The RSI on the daily timeframe is overbought at 81 points Itâs best to remain cautious
Dogecoin (DOGE)
DOGE also had an excellent week after closing with a 16% price increase Considering that its market capitalization is almost double that of SHIB DOGE needs many more buyers and more volume to achieve a similar performance
The price action has turned bullish and the current target is 13.5 cents Since buyers are dominating right now DOGE has a good chance to hit this key level before any major pullback
Looking ahead it appears meme coins are performing very well again and this could last as long as the overall market remains optimistic If so DOGE could aim to reach 20 cents in the medium term and revisit that level from March 2024
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