DOGE and SHIB Price Analysis for January 8

01/08/2024 22:20
DOGE and SHIB Price Analysis for January 8

How long is sideways trading of DOGE and SHIB going to last?

Original U.Today article

DOGE and SHIB Price Analysis for January 8

Cover image via www.tradingview.com

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Most of the coins are falling today; however, the top ones are exceptions to this rule.

Top coins by CoinMarketCap

DOGE/USD

The rate of DOGE has declined by 2.22% over the last day.

Image by TradingView

On the daily chart, the price of DOGE has made a false breakout of the support level. 

If the candle closes near the $0.08 zone, buyers have the chance to get back in the game, which might lead to a further rise to the $0.085 zone.

DOGE is trading at $0.0788 at press time.

SHIB/USD

SHIB is more of a loser than DOGE as its rate has decreased by almost 4% since yesterday.

Image by TradingView

From the technical point of view, SHIB is looking worse than DOGE as it is far from the key levels. In this case, ongoing sideways trading in the area of $0.000009-$0.00000950 is the more likely scenario for the next few days.

SHIB is trading at $0.00000921 at press time.

About the author

article image

Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at [email protected].

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