The bears came out stronger than the bulls on the last day of the week as most of the cryptocurrency market is in the red zone. The Fed’s announcement on Wednesday evening that it will tighten its interest rate policies had a harsh impact on the entire altcoin market, accompanied by Bitcoin, which gained downward momentum over $45 thousand. In this article, let’s take a look at how strong the popular meme coins Shiba Inu (SHIB) and Dogecoin (DOGE) compare to their competitors.
Bitcoin (BTC)
Bitcoin (BTC) is among the cryptocurrencies that continue to be traded in the green zone. However, while depreciating by 4.73% yesterday, it shrank by 10.90% compared to last week. It also failed to stabilize above $44,000, which means buyers may need more time to accumulate energy for further growth. In such a case, it is also confirmed by the decreasing sales transaction volume. According to analysts, if the bulls can hold the critical support level of $40,000, the bullish scenario will remain valid. Elsewhere, a drop to the support level at $32,871 is possible. Bitcoin is trading at $40,716.34 at the time of writing.
Dogecoin (DOGE)
DOGE was one of the top earners as it rose 3.62% on April 10. However, it broke down from $0.1731 today and its price dropped below another critical level of $0.1537. This signals that, according to analysts, a rapid growth in the price of Dogecoin should not be expected. Analysts think that by the end of the month, Dogecoin may trade sideways in the $0.14-0.16 range. DOGE, the 11th largest cryptocurrency by market capitalization, is trading at $0.1405 in the bottom zone of this region at the time of writing.
Shiba Inu (SHIB)
Shiba Inu (SHIB) on April 10, % DOGE in the last 24 hours Followed by the 2’s rise. Despite today’s 7% drop, SHIB is neither up nor down in the medium-term rankings as the rate is in the middle of a wide channel, between support at $0.00001695 and resistance at $0.00003523. The current weekly candle is about to close red, which means bears are currently controlling the situation. At the time of writing, SHIB is trading at $0.0000231, down 7.11% in the last 24 hours and 12.45% from last week.
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