Economy 16-11-2023 09:05 2 Views

Dogecoin and Shiba Inu: Dogecoin bounced back to 0.08000

Dogecoin analysis

Dogecoin and Shiba Inu: Dogecoin bounced back to 0.08000

  • Wednesday was very bullish for the price of Dogecoin.
  • For the second day in a row, Shiba Inu’s price is in bullish consolidation from 0.00000801 to 0.00000900.

Dogecoin chart analysis

Wednesday was very bullish for the price of Dogecoin. The bullish trend continued today with the formation of this week’s new high price at the 0.07990 level. We are again very close to breaking the 0.08000 level and visiting the previous high at 0.08189 formed the previous weekend. As we can see, the current candlestick is very bullish and could easily break the 0.08000 level. Potential higher targets are 0.08100 and 0.08200 levels.

For a bearish option, we need a negative consolidation and pullback of the Dogecoin price to the 0.07700 support level. A price drop below this level could indicate a continuation of the pullback and a visit to lower support levels. Potential lower targets are 0.07600 and 0.07500 levels. Additional price support in the zone around 0.07500 is the EMA50 moving average.

Dogecoin chart analysis

Shiba Inu chart analysis

For the second day in a row, Shiba Inu’s price is in bullish consolidation from 0.00000801 to 0.00000900. We are currently testing the price since the beginning of this week. We need a breakthrough above this level so that we can proceed to further growth unhindered. Potential higher targets are 0.00000910 and 0.00000920, this week’s high price.

For a bearish option, we need a negative consolidation and price pullback to the 0.00000870 level. That way, we would fall below this morning’s support zone. After that, we could expect to see a further pullback and the formation of today’s new price low. Potential lower targets are the 0.00000860 and 0.00000850 levels. Additional support for the price could be found in the EMA50 moving average in the zone around the 0.00000860 level.

Shiba Inu chart analysis

 

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