Shiba Inu, Dogecoin Price Analysis Guide For The Coming Week
Shiba Inu, Dogecoin Price Analysis: the exhaustion of bullish momentum has stalled price recovery in the majority of cryptocurrencies, including meme coins. However, the resulting consolidation seems like a short break before the recovery shoots up again. Thus, today we’ll analyze the top two memecrypto, Dogecoin, and Shiba Inu coin, to identify their near future goal.
Market leaders
The Bitcoin price currency trades at $23630 with an intraday loss of 0.47%; meanwhile, the Ethereum price exchange hands at $1635, with an intraday loss of 0.57%.
Shiba Inu coin
Source- Coinmarketcap
Under the influence of a rounding bottom pattern, the Shiba Inu coin has witnessed steady growth in the first three weeks of 2023. This pattern formation itself is a sign of sustained recovery in the market and brings several entry opportunities for interested traders.
However, for the fourth week, the coin price is experiencing high volatility, causing a consolidation phase above the $0.000011 support. However, this consolidation should be temporary, and If the coin price shows sustainability above the mentioned support, the price is likely to resume a bullish recovery.
Source- Tradingview
With sustained buying, the Shiba Inu coin price could rise more 17.4% to hit the neckline resistance of the rounding bottom pattern. However, in ideal bullish conditions, this pattern breakout should lead to a price rally to $0.00002.
Dogecoin
Source- Coinmarketcap
The Dogecoin price witnessed a consolidation phase for the past two weeks showing a power struggle to surpass the $0.091 ceiling. However, after an explosive rally, a minor consolation is essential to stabilize the excessive buying.
However, in deeper analysis, this consolidation is part of a famous bullish reversal pattern called cup and handle. The prices have reached the handle portion of this pattern, and are waiting for the breakout of neckline resistance.
Source-Tradingview
By the press time, the DOGE coin trades at $0.088, with an intraday loss of 1.14%. Thus, a daily candle closing above the $0.0916 resistance will signal the resumption of the bullish recovery. This potential rally could drive the DOGE price 18% higher to hit the $0.108 mark.
- SEC Chair Paul Atkins Says Crypto Is Top Priority At SEC CFTC Roundtable
- Legal Expert Breaks Down XRP’s Appeal as Ripple SWIFT Debate Heats Up
- Crypto Stakeholders Push Back as Banks Seek Yield Ban Provision in CLARITY Act
- Crypto ETFs Approval Faces Uncertainty as Government Shutdown Looms, Bloomberg Analyst Says
- Fed’s Hammack Backs Restrictive Policy Over Rate Cuts Amid Inflation Concerns
- Dogecoin Price Prediction – Chart Set-Up Highlights Perfect Buying Opportunity With Outflows Backing $0.45
- Bitcoin Price Set to Rebound Ahead of US Government Shutdown, NFP Data
- XRP Price Prediction: How XRP Could React After October 2025 SEC ETF Decisions
- Aster Price Prediction as US President Adds $110M Worth of Tokens to His Portfolio
- Pepe Coin Price Bounce Likely as Support Zone Aligns With Rising Social Activity
- Solana Price Set for Recovery Amid Wyckoff Accumulation and Canary Capital ETF Filing
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
