Price Analysis

Dogecoin & Shiba INU are Out of Top 10 Nowadays! Will They be Out of the Top-50 too?

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Feb 28, 2022

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The global markets including the crypto space are becoming extremely volatile amid the fresh tensions emerging within the Russia-Ukraine conflict. The crypto space witnessed a steep drop in the early trading hours which slashed the price to a larger extent. And hence trembled the markets including Dogecoin price and Shiba INU price too. Now when both stand out of the top 10, more worst scenarios may emerge if they failed to rebound. 

Dogecoin(DOGE) Price Analysis

Dogecoin’s price is constantly shedding its value for nearly 10 months and now approaches one of the crucial phases. While the asset is expected to break through the consolidated phase, the technicals suggest a diversified scenario. The DOGE price is feared to lose the $0.1 price zone as it kept on losing the $0.3 and $0.2 zones over time. Yet the uncertain market environment may somehow drag the price more.

The price after trending within a huge descending channel & is currently hovering close to the apex. Hence the possibilities of a massive drain surface while the external factors may fuel the plunge to a large extent. And now when the DOGE price slips from the support at $0.12, it may add up to another zero and visit the next support zone around $0.05. And when the price is almost halved the market capitalization may shrink below $10 billion, throwing it out of the top 20. 

Also Read: Ethereum Feared to Revisit $2500 Levels, How Will ETH Record A Bearish Monthly Close?

Shiba INU(SHIB) Price Analysis

Shiba INU on the other hand after faking out a breakout is yet again attempting to test the upper resistance. The rally appears to be considerably stronger with a decent amount of trading volume being accumulated. After the fresh slash in the prices, SHIB price had trembled down. But the buyers appear to be in a tough brawl with the seller from the past couple of hours. And hence despite the asset may not be extremely bullish but does not showcase a possibility of a deep bearish trend. 

As witnessed in the chart, the SHIB price since the recent flip from the lower support is hovering very close to the upper resistance. And nowhere it seems weak as it had attempted to close the previous day’s trade above the channel. However, the interim rejection does not seem to have suppressed the strength. As the asset tends to test and break through the upper resistance in a short while from now. And with a consolidated uptrend, Shiba INU(SHIB) price may steadily head towards the top 10.

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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