Shiba Inu (SHIB) price continues its downtrend with decreasing investor numbers. There is a sharp decline in the owners of Dogecoin killers. On the other hand, Dogecoin price may seem to be experiencing selling pressure today as it recently surged to $0.14. Today’s price is currently just over $0.13. So, what levels are next?
Shiba Inu (SHIB) recovering from downtrend?
Analysis According to comments by Ekta Mourya, the Shiba Inu price recorded overnight losses in response to the drop in coin adoption. After a steady increase in the number of Shiba Inu owners for more than three months, there has been a significant drop in the last ten days, as we reported on Kriptokoin.com. In the last two days, the Shiba Inu community has burned 230 million tokens. According to analysts, a decrease in the supply of SHIB will increase the price of the meme coin. Analysts evaluated the Shiba Inu price trend and predicted a “reversal” in the meme coin.
Shiba Inu is on the way out of the downtrend and has set a target of $0.000032, according to FXStreet analysts. Analysts believe SHIB is ready to recover. Analysts point out that the Ichimoku cloud, which is a formation, is extremely thin as of March 25, 2022. This signals an increase in bullish potential in the Shiba Inu. Analysts have predicted a Shiba Inu price rally and they believe the meme coin will end its downtrend soon.
What’s next for Dogecoin (DOGE)?
Dogecoin’s price is showing bearish momentum as the bears form a major bearish candlestick on the 3-hour chart. This Monday’s rally indicated DOGE would see a 14% rally if the price is able to sustain a close above $0.12. A day later, the bulls came out in full force to confirm the technical analysis, and it ultimately took three days to reach the targeted 14 percent target at $0.14.
According to FXStreet analysts, Dogecoin price is currently experiencing some pressure. It is stated that the volume has changed in a way that will benefit those who foresee a decrease. The .5 Fibonacci level at $0.12 is thought to be where traders on the edge are waiting. If Dogecoin price can find support at 0.5 Fib, the price is likely to climb above $0.14, otherwise $0.115 is likely to be seen.
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