- DOGE is trading in the middle of a wide channel and the price may continue to remain flat.
- SHIB price faced rejection from an important resistance and may undergo a correction.
What is the current situation in the prices of the 2 most popular memecoins? DOGE and SHIB investors should carefully monitor these levels.
Dogecoin (DOGE) Price Analysis
DOGE, which experienced a significant rise with Twitter adding the Dogecoin logo to its logo and rapidly increasing in popularity, is experiencing sideways price movements. With Twitter removing the Dogecoin logo, DOGE price dropped by more than 12%.
The price of Dogecoin (DOGE), the 8th largest cryptocurrency with a market value of 12 billion dollars, experienced a 0.2% decrease in the last 24 hours.
DOGE/USDT Daily Price Chart
DOGE is trading in the middle of a wide channel between $0.08 support and $0.0998 resistance. As neither the support nor the resistance has taken the initiative, a scenario of sideways trading around the $0.09 region is more likely next week.
Shiba Inu (SHIB) Price Analysis
Shiba Inu, the second most popular memecoin, has risen by more than 40% since the beginning of the year. It recorded its highest level of 0.00001575$ on February 4, 2023.
The price of Shiba Inu (SHIB), the 13th largest cryptocurrency with a market value of 6.8 billion dollars, has undergone a 25% decrease since February 4. It showed a 3.6% increase in performance in the last 24 hours.
SHIB/USDT Daily Price Chart
Despite the rise in the last 24 hours, the SHIB price faced rejection from the 0.00001186$ resistance level. Investors should pay attention to the daily close. If it occurs far from this level, there is a high probability of a correction towards the $0.000011 region.
