• Mon. Mar 4th, 2024

Dogecoin and Shiba Inu Secure Morning Support, SHIB Targets $0.000011

Oct 14, 2022
  • Shiba Inu and Dogecoin appear in breakout mode today, following Thursday’s mixed session.
  • Exchange news supported SHIB price, whereas DOGE followed the broad market through the day.
  • Technical indicators stay bearish. Headwinds such as the Fed, economic uncertainty, and Ukraine continue to restrict upsides.

Thursday saw Dogecoin extending Wednesday’s 0.69% dip with a 0.29% slide to close the day near $0.05963. Nonetheless, early bearish had the original meme coin falling to $0.05501. DOGE lost massive support before climbing towards the $0.06026 late high.

Nevertheless, the initial resistance at $0.0608 pushed the alt towards a sub-$0.060. Shiba Inu gained 2.26% yesterday to reverse Wednesday’s 0.88%, closing the day at around the $0.00001039 level. Meanwhile, broad market cues saw the alt losing crucial support to the $0.0000925 morning low.

Shiba Inu secured reliable support, surging towards the $0.00001081 late high. Shiba Inu overcame the initial resistance at $0.00001036 and slightly beyond the 2nd one at $0.00001056 before sliding to close the day near $0.00001039.

The market response following the US consumer price index report saw DOGE and SHIB exploring the red sea. Nevertheless, softer US inflation data erased the fears of another inflation spike, supporting a broad crypto market rebound. News about the renowned Kraken exchange adding USDTSHIB bolstered Shiba Inu’s upside.

DOGE Price Action

While publishing this blog, DOGE traded at $0.06052, following a 1.48% surge. A bullish morning saw the meme coin surging from $0.05948 early low to $0.061106.

Dogecoin should avoid the pivot at $0.0583 to open the road toward the first resistance at $0.0616. Improved sentiment can support breakouts from the $ 0.06106-morning peak. Meanwhile, extended rallies would push DOGE to the 2nd massive resistance at $0.0636.

Nevertheless, losing the pivot would expose the first massive support at $0.0563. The second support stands at $0.05430.

SHIB Price Action

Shiba Inu changed hands at $0.00001056 during this publication, gaining 1.64%. A bullish morning saw the alt soaring from $0.00001037 to $0.00001075. A climb past the pivot at $0.00001015 would open the gates towards the first resistance at $0.00001105.

Improved market sentiment can see the alt overcoming the $0.00001081 Thursday peak. A dip from the pivot would see Shiba Inu exploring the initial support at $0.0000949. the second foothold stands near $0.00000859.

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