NewsletterDogecoin, Shiba Inu Price Prediction- Will These Meme Coins Remain Bullish In Coming Week?
Dogecoin, Shiba Inu price prediction- The bull run continued in the crypto market and pushed the major cryptocurrencies to higher ground. At 9:15 am EST Saturday, the global crypto market stood at $1.06 Trillion, a 2.18% rise over yesterday.
Moreover, the total crypto market volume has reached $101.85 Billion, representing a rise of 11.62%. The total volume in DeFi is currently $6.34 Billion, 6.23% of the total crypto market 24-hour volume.
Top Gainers and Losers
Source- Coin360
Today, Axie infinity and Algorand are the top gainers among the top 100 cryptocurrencies. By the press time, the AXS price moves at $10.8 with an 18.4% gain in the last 24 hours, while ALGO is trading at $0.45 with a 15.67% increase. Conversely, the top losers are UNUS SED LEO and Loopring, where the LEO price trades at $4.37, accounting for an 8.51% loss, while the LRC price is down to $0.3586 with a 3.94% loss.
Dogecoin Price
Source- Coinmarketcap
Following a perpendicular growth at the October end, the Dogecoin price initiates a correction phase from the $0.1518 resistance. The memecoin currently trades at $0.127, registering a 15.85 loss over the past four days.
However, the ongoing recovery in the crypto market stalls the bearish pullback at 0.328 Fibonacci retirement level($0.12). Nevertheless, the higher price rejection candle at local resistance of $0.135 indicates the supply pressure persists, and the correction phase could last longer.
Source- Tradingview
With sustained selling, the downward spiral may plunge the Dogecoin price 13.3% down to hit 0.5 FIB.
Shiba Inu price
Source- Coinmarketcap
Since last week, the Shiba Inu price has been in a consolidation phase between $0.000014 and $0.0000116. The multiple higher price rejection candle at $0.000014 resistance indicates the supply pressure is higher at this level.
However, the coin chart shows a double bottom pattern in the 4-hour time frame chart. Amid the recovery sentiment in the crypto market, a 4-hour candle closing above the $0.00001318 neckline resistance will accelerate the bullish momentum and assist buyers in surpassing $0.000014 barriers.
Source- Tradingview
Conversely, if the selling pressure at overhead resistance persists, the prices may revisit the $0.00001162 support.
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