After sudden price movements, cryptocurrencies entered a consolidation process. Many popular cryptocurrencies are also moving with Bitcoin in this process. Let’s take a look at the latest situations in Dogecoin (DOGE) and Shiba Inu (SHIB), the most popular joke coins in the crypto money market…
Dogecoin Latest Status and Comments
DOGE, which has the title of being the first meme token of the market, is trading at $0.11 as of the writing of the article. According to analysts, DOGE, which is currently in a downtrend, seems to have been on a steady decline since February 28.
The 4-hour Dogecoin price chart shows DOGE bulls attempting to push the price towards the $0.1162 resistance zone. Looking at the 4-hour time frame, it looks like Dogecoin price could break the $0.1162 resistance and move higher.
However, if the bears continue to put pressure on prices and manage to push DOGE below the $0.1106 support, the DOGE/USD pair could dip towards the 0.1050 support zone.
Can You Buy Shiba Inu?
SHIB, which also has a large investor base in Turkey, is trading in the $0.000021 band as of the writing of the article. Currently among the top 20 cryptocurrencies by market cap, SHIB has a market cap of $11.7 billion.
Currently, $0.00022 and $0.000023 are forming two important resistance levels on the Shiba Inu, according to analysts. A volume break of these two resistance levels could prompt a test of $0.000025 in SHIB.
However, the downward deterioration of the consolidation in the market may cause the two joke coins to see lower levels. Therefore, it is beneficial for investors to be cautious.