Cryptocurrencies spend the weekend on the rise, so investors took a deep breath in the last days of the week. Popular cryptocurrencies Shiba Inu (SHIB) and Dogecoin (DOGE) also get their share from this rise.
SHIB and DOGE Latest Status
At the time of writing, the Shiba Inu is trading at $0.000021, up approximately 4.7 percent. It can be stated that the joke coin, which has recently withdrawn to $0.000017, has recovered noticeably after the fall.
In addition to SHIB, we see that there are upward moves in Dogecoin as well. DOGE is trading at $0.14 at the time of writing and hovers above the low of $0.12. DOGE has performed slightly worse than SHIB in the last 24 hours, posting an increase of approximately 2.5%.
SHIB and DOGE Expectations
Analysts think that in order for Shiba Inu and Dogecoin, which are in all cryptocurrencies, to rise, Bitcoin must first break important technical and fundamental resistances. At this point, the $40,000 and then $43,000 levels must be broken first. However, in order for a rally in BTC to be certain, the psychological resistance of $ 50,000 must be broken.
If Bitcoin turns the direction up, meme tokens can also be affected by this situation and make rapid upward moves. At this point, the initial resistance for SIHB is thought to be $0.000025 and the initial resistance for DOGE is $0.20.
In addition, it is stated that the successive news about the adoption of SHIB and DOGE may trigger the acceleration of the increase, but investors should be cautious due to the mixed signals in the market.
