Will Shiba Inu Coin hit $1 before Dogecoin surges in price?
Shiba Inu (SHIB) has been a standout in recent price performance. Its price has increased by over 29% over the past month and is trading around $0.000017. Despite the current weekly price decline, Shiba Inu’s daily trading volume has also increased as Shiba Inu news tweets hint at a possible all-time high.
SHIB technical indicators also suggest that the coin is trading above the 10-day and 20-day simple moving averages at $0.00001751 and $0.00001760 respectively. Strong resistance for the coin is found around $0.0000150 and $0.00001800, with Shiba Inu’s price facing rejections on several occasions in the past.
With an RSI of 59, if the Shiba Inu price can sustain above the trendline around $0.00001670, the probability of a price rally becomes higher as the meme coin aims to retest the $0.00001800 mark. A break above this point will also push the SHIB coin towards the $0.000019 mark, where it last faced rejection.
Throughout September, Dogecoin price has been steadily rising with only minor pullbacks. Dogecoin price has surged since the end of September, with monthly gains exceeding 4.5%, trading at around $0.11, and the uptrend is clear.
Dogecoin is giving a buy signal, having broken out of a multi-year descending triangle, a price pattern that always leads to a sharp rise.
In addition, the surge in Dogecoin trading volume indicates increased liquidity and interest. These two factors usually stabilize the market and may prevent Dogecoin holders, especially whales, from selling. In light of this, analysts believe that Dogecoin could see a significant rise, with the Dogecoin price prediction exceeding the $0.6 mark.
