Dogecoin and Shiba Inu Price Update: Rising to 0.00000974

Dogecoin chart analysis

At the beginning of this week, the price of Dogecoin was falling to support at the 0.07950 level. After consolidation at that level, there was a bullish impulse and a jump above the EMA200 and the 0.08000 level. By the end of the day, the price continued to recover, climbing to the 0.08300 level. Today, we first saw a pullback from that level to 0.08150, and then, with a new bullish impulse, we approached the 0.08300 level again.

A new test could see a breakout above and the formation of this week’s new high. Potential higher targets are 0.08350 and 0.08400 levels. We need a negative consolidation and pullback to the 0.08100 level for a bearish option. Thus, the price would fall to a new daily low and confirm that Dogecoin is under pressure. Down there,  we encounter the EMA200 again and expect its support. Potential lower targets are 0.08050 and 0.08000 levels.

Shiba Inu chart analysis

Over the weekend, the price of Shiba Inu rose to 0.00000962 levels. It encounters resistance there and pulls back to the 0.00000920 level on Monday. In this zone, we get support in the EMA200 moving average and start a recovery until this morning, forming a high at the 0.00000974 level. We fail to stay there and the price retreats to the 0.00000945 level. We get new support and start a recovery again, moving now to the 0.00000962 level.

If this bullish trend continues, the Shiba Inu could end up at a new higher high. Potential higher targets are 0.00000980 and 0.00000990 levels. A price pullback to the 0.00000950 support level is required for a bearish option. A break below will first form a daily low; thus, we get confirmation of bearish momentum. Potential lower targets are the 0.00000940 and 0.00000930 levels.

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